| Metric | Q1 2026 | Q4 2025 | Q1 2025 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $1.0B | — | $829M | — | 25.7% |
| Op. Income | -$447M | — | -$349M | — | -28.3% |
| Gross Margin | 66.5% | — | 67.1% | — | -0.6pp |
| Net Margin | -41.3% | — | -38.3% | — | -3.0pp |
| EPS (Diluted) | $-1.29 | — | $-0.95 | — | -35.8% |
| Free Cash Flow | $183M | — | $339M | — | -45.9% |
| Item | Amount |
|---|---|
| REVENUE | $1.0B |
| Cost of Revenue | $349M |
| GROSS PROFIT | $693M |
| R&D Expenses | $472M |
| Selling & Marketing | $459M |
| General & Administrative | $210M |
| SG&A Expenses | $668M |
| Other Expenses | $0 |
| Operating Expenses | $1.1B |
| Cost & Expenses | $1.5B |
| OPERATING INCOME | -$447M |
| Interest Income | $53M |
| Interest Expense | $2M |
| Other Income/Expenses | $23M |
| INCOME BEFORE TAX | -$424M |
| Income Tax Expense | $6M |
| Net Income from Continuing Ops | -$430M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$430M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$430M |
| D&A | $49M |
| EBIT | -$422M |
| EBITDA | -$373M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$430M |
| Depreciation & Amortization | $49M |
| Stock-Based Compensation | $379M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $169M |
| Change in Working Capital | $61M |
| OPERATING CASH FLOW | $228M |
| Capital Expenditure | -$45M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$1.0B |
| Sales/Maturities of Investments | $1.0B |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$56M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | -$491M |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$133M |
| NET CASH FROM FINANCING | -$564M |
| FREE CASH FLOW | $183M |
| Net Change in Cash | -$386M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $2.2B |
| Short-Term Investments | $1.7B |
| Net Receivables | $553M |
| Inventory | $0 |
| Other Current Assets | $218M |
| TOTAL CURRENT ASSETS | $4.7B |
| PP&E (Net) | $552M |
| Goodwill | $1.1B |
| Intangible Assets | $254M |
| Long-Term Investments | $1.3B |
| Tax Assets | $0 |
| Other Non-Current Assets | $326M |
| TOTAL NON-CURRENT ASSETS | $3.5B |
| TOTAL ASSETS | $8.2B |
| Account Payables | $155M |
| Short-Term Debt | $0 |
| Deferred Revenue | $2.3B |
| Other Current Liabilities | $307M |
| TOTAL CURRENT LIABILITIES | $3.0B |
| Long-Term Debt | $2.3B |
| Deferred Revenue NC | $14M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $48M |
| TOTAL NON-CURRENT LIABILITIES | $2.7B |
| TOTAL LIABILITIES | $5.7B |
| Common Stock | $34.0K |
| Additional Paid-In Capital | $10.7B |
| Retained Earnings | -$8.2B |
| Treasury Stock | -$58M |
| Accum. Other Comp. Income | $8M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $2.4B |
| Minority Interest | $7M |
| TOTAL EQUITY | $2.4B |
| TOTAL LIABILITIES & EQUITY | $8.2B |
| Total Debt | $2.7B |
| Net Debt | $445M |
