| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $847M | $739M | $741M | 14.5% | 14.3% |
| Op. Income | $257M | $161M | $195M | 59.3% | 31.5% |
| Gross Margin | 80.7% | 78.1% | 81.7% | 2.7pp | -1.0pp |
| Net Margin | 22.1% | 15.6% | 24.6% | 6.5pp | -2.5pp |
| EPS (Diluted) | $0.40 | $0.23 | $0.36 | 73.9% | 11.1% |
| Free Cash Flow | $277M | $164M | $177M | 68.7% | 56.3% |
| Item | Amount |
|---|---|
| REVENUE | $847M |
| Cost of Revenue | $163M |
| GROSS PROFIT | $684M |
| R&D Expenses | $131M |
| Selling & Marketing | $174M |
| General & Administrative | $123M |
| SG&A Expenses | $296M |
| Other Expenses | $0 |
| Operating Expenses | $427M |
| Cost & Expenses | $590M |
| OPERATING INCOME | $257M |
| Interest Income | $0 |
| Interest Expense | $0 |
| Other Income/Expenses | $13M |
| INCOME BEFORE TAX | $270M |
| Income Tax Expense | $83M |
| Net Income from Continuing Ops | $187M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $187M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $187M |
| D&A | $32M |
| EBIT | $270M |
| EBITDA | $302M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $847M |
| Cost of Revenue | $163M |
| GROSS PROFIT | $684M |
| R&D Expenses | $131M |
| Selling & Marketing | $174M |
| General & Administrative | $123M |
| SG&A Expenses | $296M |
| Other Expenses | $0 |
| Operating Expenses | $427M |
| Cost & Expenses | $590M |
| OPERATING INCOME | $257M |
| Interest Income | $0 |
| Interest Expense | $0 |
| Other Income/Expenses | $13M |
| INCOME BEFORE TAX | $270M |
| Income Tax Expense | $83M |
| Net Income from Continuing Ops | $187M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $187M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $187M |
| D&A | $32M |
| EBIT | $270M |
| EBITDA | $302M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $187M |
| Depreciation & Amortization | $32M |
| Stock-Based Compensation | $112M |
| Deferred Income Tax | $50M |
| Other Non-Cash Items | $12M |
| Change in Working Capital | -$81M |
| OPERATING CASH FLOW | $312M |
| Capital Expenditure | -$35M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$128M |
| Sales/Maturities of Investments | $278M |
| Other Investing Activities | -$4M |
| NET CASH FROM INVESTING | $120M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | -$423M |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$18M |
| NET CASH FROM FINANCING | -$427M |
| FREE CASH FLOW | $277M |
| Net Change in Cash | $5M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $658M |
| Short-Term Investments | $645M |
| Net Receivables | $3.9B |
| Inventory | $0 |
| Other Current Assets | $13M |
| TOTAL CURRENT ASSETS | $5.3B |
| PP&E (Net) | $739M |
| Goodwill | $0 |
| Intangible Assets | $20M |
| Long-Term Investments | $0 |
| Tax Assets | $56M |
| Other Non-Current Assets | $78M |
| TOTAL NON-CURRENT ASSETS | $892M |
| TOTAL ASSETS | $6.2B |
| Account Payables | $3.0B |
| Short-Term Debt | $76M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $182M |
| TOTAL CURRENT LIABILITIES | $3.3B |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $43M |
| TOTAL NON-CURRENT LIABILITIES | $403M |
| TOTAL LIABILITIES | $3.7B |
| Common Stock | $0 |
| Additional Paid-In Capital | $3.1B |
| Retained Earnings | -$591M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $2.5B |
| Minority Interest | $0 |
| TOTAL EQUITY | $2.5B |
| TOTAL LIABILITIES & EQUITY | $6.2B |
| Total Debt | $436M |
| Net Debt | -$222M |
