| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $383M | $249M | $263M | 53.9% | 46.0% |
| Op. Income | $73M | $69M | $62M | 5.3% | 16.1% |
| Gross Margin | 56.8% | 66.5% | 60.6% | -9.8pp | -3.9pp |
| Net Margin | 14.8% | 22.4% | 19.5% | -7.6pp | -4.7pp |
| EPS (Diluted) | $0.94 | $0.92 | $0.84 | 2.2% | 11.9% |
| Free Cash Flow | $76M | $32M | $49M | 136.4% | 54.3% |
| Item | Amount |
|---|---|
| REVENUE | $383M |
| Cost of Revenue | $166M |
| GROSS PROFIT | $218M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $145M |
| SG&A Expenses | $145M |
| Other Expenses | $0 |
| Operating Expenses | $145M |
| Cost & Expenses | $311M |
| OPERATING INCOME | $73M |
| Interest Income | $467M |
| Interest Expense | $140M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $73M |
| Income Tax Expense | $16M |
| Net Income from Continuing Ops | $57M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $57M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $57M |
| D&A | $13M |
| EBIT | $73M |
| EBITDA | $85M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| REVENUE | $383M |
| Cost of Revenue | $166M |
| GROSS PROFIT | $218M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $145M |
| SG&A Expenses | $145M |
| Other Expenses | $0 |
| Operating Expenses | $145M |
| Cost & Expenses | $311M |
| OPERATING INCOME | $73M |
| Interest Income | $467M |
| Interest Expense | $140M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $73M |
| Income Tax Expense | $16M |
| Net Income from Continuing Ops | $57M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $57M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $57M |
| D&A | $13M |
| EBIT | $73M |
| EBITDA | $85M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $57M |
| Depreciation & Amortization | $10M |
| Stock-Based Compensation | $5M |
| Deferred Income Tax | $343.0K |
| Other Non-Cash Items | $5M |
| Change in Working Capital | -$10M |
| OPERATING CASH FLOW | $66M |
| Capital Expenditure | $10M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$61M |
| Sales/Maturities of Investments | $3M |
| Other Investing Activities | -$18M |
| NET CASH FROM INVESTING | -$71M |
| Net Debt Issuance | -$386M |
| Common Stock Repurchased | -$11M |
| Common Dividends Paid | -$15M |
| Other Financing Activities | $515M |
| NET CASH FROM FINANCING | $103M |
| FREE CASH FLOW | $76M |
| Net Change in Cash | $98M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $733M |
| Short-Term Investments | $1.6B |
| Net Receivables | $0 |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $2.3B |
| PP&E (Net) | $261M |
| Goodwill | $335M |
| Intangible Assets | $132M |
| Long-Term Investments | $15.1B |
| Tax Assets | $0 |
| Other Non-Current Assets | $648M |
| TOTAL NON-CURRENT ASSETS | $16.5B |
| TOTAL ASSETS | $18.8B |
| Account Payables | $0 |
| Short-Term Debt | $420M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $15.6B |
| TOTAL CURRENT LIABILITIES | $16.1B |
| Long-Term Debt | $394M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $205M |
| TOTAL NON-CURRENT LIABILITIES | $636M |
| TOTAL LIABILITIES | $16.7B |
| Common Stock | $13M |
| Additional Paid-In Capital | $123M |
| Retained Earnings | $2.0B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$19M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $2.1B |
| Minority Interest | $0 |
| TOTAL EQUITY | $2.1B |
| TOTAL LIABILITIES & EQUITY | $18.8B |
| Total Debt | $851M |
| Net Debt | $118M |
