| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $1.4B | $1.4B | $1.1B | 2.0% | 22.3% |
| Op. Income | -$28M | -$12M | -$67M | -128.6% | 57.5% |
| Gross Margin | 83.1% | 83.8% | 80.8% | -0.7pp | 2.3pp |
| Net Margin | -1.7% | -5.2% | -17.4% | 3.5pp | 15.7pp |
| EPS (Diluted) | $-0.09 | $-0.27 | $-0.76 | 66.3% | 88.0% |
| Free Cash Flow | $360M | $625M | $413M | -42.3% | -12.7% |
| Item | Amount |
|---|---|
| REVENUE | $1.4B |
| Cost of Revenue | $234M |
| GROSS PROFIT | $1.1B |
| R&D Expenses | $701M |
| Selling & Marketing | $314M |
| General & Administrative | $163M |
| SG&A Expenses | $478M |
| Other Expenses | $0 |
| Operating Expenses | $1.2B |
| Cost & Expenses | $1.4B |
| OPERATING INCOME | -$28M |
| Interest Income | $30M |
| Interest Expense | $8M |
| Other Income/Expenses | $14M |
| INCOME BEFORE TAX | -$14M |
| Income Tax Expense | $10M |
| Net Income from Continuing Ops | -$24M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$24M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$24M |
| D&A | $23M |
| EBIT | -$6M |
| EBITDA | $17M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$24M |
| Depreciation & Amortization | $23M |
| Stock-Based Compensation | $351M |
| Deferred Income Tax | $5M |
| Other Non-Cash Items | -$15M |
| Change in Working Capital | $35M |
| OPERATING CASH FLOW | $375M |
| Capital Expenditure | -$15M |
| Acquisitions (Net) | -$8M |
| Purchases of Investments | -$135M |
| Sales/Maturities of Investments | $24M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$135M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | -$424M |
| Common Dividends Paid | $0 |
| Other Financing Activities | $31M |
| NET CASH FROM FINANCING | -$392M |
| FREE CASH FLOW | $360M |
| Net Change in Cash | -$148M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $2.5B |
| Short-Term Investments | $424M |
| Net Receivables | $778M |
| Inventory | $0 |
| Other Current Assets | $176M |
| TOTAL CURRENT ASSETS | $3.9B |
| PP&E (Net) | $274M |
| Goodwill | $1.3B |
| Intangible Assets | $245M |
| Long-Term Investments | $222M |
| Tax Assets | $4M |
| Other Non-Current Assets | $101M |
| TOTAL NON-CURRENT ASSETS | $2.2B |
| TOTAL ASSETS | $6.0B |
| Account Payables | $222M |
| Short-Term Debt | $0 |
| Deferred Revenue | $2.2B |
| Other Current Liabilities | $423M |
| TOTAL CURRENT LIABILITIES | $3.2B |
| Long-Term Debt | $988M |
| Deferred Revenue NC | $254M |
| Deferred Tax Liabilities | $24M |
| Other Non-Current Liabilities | $48M |
| TOTAL NON-CURRENT LIABILITIES | $1.5B |
| TOTAL LIABILITIES | $4.7B |
| Common Stock | $3.0K |
| Additional Paid-In Capital | $5.6B |
| Retained Earnings | -$4.2B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $13M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $1.3B |
| Minority Interest | $0 |
| TOTAL EQUITY | $1.3B |
| TOTAL LIABILITIES & EQUITY | $6.0B |
| Total Debt | $1.2B |
| Net Debt | -$1.3B |
