| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $382M | $321M | $302M | 19.1% | 26.5% |
| Op. Income | $61M | $50M | $47M | 21.6% | 29.2% |
| Gross Margin | 31.2% | 29.6% | 31.2% | 1.6pp | 0.0pp |
| Net Margin | 12.0% | 12.1% | 12.1% | -0.1pp | -0.1pp |
| EPS (Diluted) | $1.10 | $0.93 | $0.89 | 18.3% | 23.6% |
| Free Cash Flow | $169M | $85M | $168M | 98.5% | 0.8% |
| Item | Amount |
|---|---|
| REVENUE | $382M |
| Cost of Revenue | $263M |
| GROSS PROFIT | $119M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $59M |
| Operating Expenses | $59M |
| Cost & Expenses | $322M |
| OPERATING INCOME | $61M |
| Interest Income | $0 |
| Interest Expense | $2M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $61M |
| Income Tax Expense | $15M |
| Net Income from Continuing Ops | $46M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $46M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $46M |
| D&A | $455.0K |
| EBIT | $62M |
| EBITDA | $63M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| REVENUE | $382M |
| Cost of Revenue | $263M |
| GROSS PROFIT | $119M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $59M |
| Operating Expenses | $59M |
| Cost & Expenses | $322M |
| OPERATING INCOME | $61M |
| Interest Income | $0 |
| Interest Expense | $2M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $61M |
| Income Tax Expense | $15M |
| Net Income from Continuing Ops | $46M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $46M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $46M |
| D&A | $455.0K |
| EBIT | $62M |
| EBITDA | $63M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $46M |
| Depreciation & Amortization | $0 |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $125M |
| Change in Working Capital | $0 |
| OPERATING CASH FLOW | $171M |
| Capital Expenditure | -$2M |
| Acquisitions (Net) | $161.0K |
| Purchases of Investments | -$259M |
| Sales/Maturities of Investments | $124M |
| Other Investing Activities | -$9M |
| NET CASH FROM INVESTING | -$146M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $0 |
| FREE CASH FLOW | $169M |
| Net Change in Cash | $25M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $160M |
| Short-Term Investments | $1.3B |
| Net Receivables | $1.5B |
| Inventory | $0 |
| Other Current Assets | -$714M |
| TOTAL CURRENT ASSETS | $2.5B |
| PP&E (Net) | $0 |
| Goodwill | $0 |
| Intangible Assets | $88M |
| Long-Term Investments | $915M |
| Tax Assets | $0 |
| Other Non-Current Assets | -$915M |
| TOTAL NON-CURRENT ASSETS | $88M |
| TOTAL ASSETS | $4.6B |
| Account Payables | $391M |
| Short-Term Debt | $43M |
| Deferred Revenue | $0 |
| Other Current Liabilities | -$434M |
| TOTAL CURRENT LIABILITIES | $0 |
| Long-Term Debt | $120M |
| Deferred Revenue NC | $51M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $2.2B |
| TOTAL NON-CURRENT LIABILITIES | $2.4B |
| TOTAL LIABILITIES | $3.6B |
| Common Stock | $405.0K |
| Additional Paid-In Capital | $728M |
| Retained Earnings | $224M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $10M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $961M |
| Minority Interest | $0 |
| TOTAL EQUITY | $961M |
| TOTAL LIABILITIES & EQUITY | $4.6B |
| Total Debt | $120M |
| Net Debt | -$41M |
