| Metric | Q2 2025 | Q1 2025 | Q2 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $684M | $862M | $783M | -20.7% | -12.7% |
| Op. Income | $88M | $403M | $339M | -78.3% | -74.1% |
| Gross Margin | 37.3% | 64.7% | 63.5% | -27.4pp | -26.2pp |
| Net Margin | 10.4% | 35.3% | 32.2% | -24.9pp | -21.7pp |
| EPS (Diluted) | $0.32 | $1.40 | $1.11 | -77.1% | -71.2% |
| Free Cash Flow | -$139M | -$146M | -$145M | 5.0% | 4.3% |
| Item | Amount |
|---|---|
| REVENUE | $684M |
| Cost of Revenue | $429M |
| GROSS PROFIT | $255M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $95M |
| SG&A Expenses | $95M |
| Other Expenses | $73M |
| Operating Expenses | $167M |
| Cost & Expenses | $596M |
| OPERATING INCOME | $88M |
| Interest Income | $657M |
| Interest Expense | $280M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $88M |
| Income Tax Expense | $16M |
| Net Income from Continuing Ops | $71M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $71M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $67M |
| D&A | $5M |
| EBIT | $88M |
| EBITDA | $93M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $684M |
| Cost of Revenue | $429M |
| GROSS PROFIT | $255M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $95M |
| SG&A Expenses | $95M |
| Other Expenses | $73M |
| Operating Expenses | $167M |
| Cost & Expenses | $596M |
| OPERATING INCOME | $88M |
| Interest Income | $657M |
| Interest Expense | $280M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $88M |
| Income Tax Expense | $16M |
| Net Income from Continuing Ops | $71M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $71M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $67M |
| D&A | $5M |
| EBIT | $88M |
| EBITDA | $93M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $71M |
| Depreciation & Amortization | $7M |
| Stock-Based Compensation | $9M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$651M |
| Change in Working Capital | $424M |
| OPERATING CASH FLOW | -$139M |
| Capital Expenditure | $0 |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$32M |
| Sales/Maturities of Investments | $3.7B |
| Other Investing Activities | -$3.7B |
| NET CASH FROM INVESTING | -$35M |
| Net Debt Issuance | $258M |
| Common Stock Repurchased | -$72M |
| Common Dividends Paid | -$27M |
| Other Financing Activities | $406M |
| NET CASH FROM FINANCING | $561M |
| FREE CASH FLOW | -$139M |
| Net Change in Cash | $388M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $4.1B |
| Short-Term Investments | $50M |
| Net Receivables | $1.7B |
| Inventory | $0 |
| Other Current Assets | $164M |
| TOTAL CURRENT ASSETS | $6.0B |
| PP&E (Net) | $118M |
| Goodwill | $56M |
| Intangible Assets | $6M |
| Long-Term Investments | $22.9B |
| Tax Assets | $0 |
| Other Non-Current Assets | $516M |
| TOTAL NON-CURRENT ASSETS | $23.6B |
| TOTAL ASSETS | $29.6B |
| Account Payables | $0 |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $20.5B |
| TOTAL CURRENT LIABILITIES | $20.5B |
| Long-Term Debt | $6.4B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $335M |
| TOTAL NON-CURRENT LIABILITIES | $6.7B |
| TOTAL LIABILITIES | $27.2B |
| Common Stock | $89M |
| Additional Paid-In Capital | $1.2B |
| Retained Earnings | $4.4B |
| Treasury Stock | -$3.5B |
| Accum. Other Comp. Income | -$61M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $2.4B |
| Minority Interest | $0 |
| TOTAL EQUITY | $2.4B |
| TOTAL LIABILITIES & EQUITY | $29.6B |
| Total Debt | $6.4B |
| Net Debt | $2.3B |
