| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $1.5B | $1.0B | $674M | 46.7% | 121.2% |
| Op. Income | $237M | $275M | $136M | -14.0% | 74.4% |
| Gross Margin | 44.3% | 60.2% | 51.3% | -15.9pp | -7.0pp |
| Net Margin | 12.6% | 21.4% | 16.3% | -8.8pp | -3.6pp |
| EPS (Diluted) | $2.36 | $2.82 | $2.23 | -16.3% | 5.8% |
| Free Cash Flow | $258M | $271M | $118M | -4.8% | 119.1% |
| Item | Amount |
|---|---|
| REVENUE | $1.5B |
| Cost of Revenue | $831M |
| GROSS PROFIT | $660M |
| R&D Expenses | $0 |
| Selling & Marketing | $11M |
| General & Administrative | $435M |
| SG&A Expenses | $446M |
| Other Expenses | -$22M |
| Operating Expenses | $424M |
| Cost & Expenses | $1.3B |
| OPERATING INCOME | $237M |
| Interest Income | $1.6B |
| Interest Expense | $404M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $237M |
| Income Tax Expense | $48M |
| Net Income from Continuing Ops | $188M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $188M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $180M |
| D&A | $67M |
| EBIT | $237M |
| EBITDA | $304M |
| EPS | $2 |
| EPS Diluted | $2 |
| Item | Amount |
|---|---|
| REVENUE | $1.5B |
| Cost of Revenue | $831M |
| GROSS PROFIT | $660M |
| R&D Expenses | $0 |
| Selling & Marketing | $11M |
| General & Administrative | $435M |
| SG&A Expenses | $446M |
| Other Expenses | -$22M |
| Operating Expenses | $424M |
| Cost & Expenses | $1.3B |
| OPERATING INCOME | $237M |
| Interest Income | $1.6B |
| Interest Expense | $404M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $237M |
| Income Tax Expense | $48M |
| Net Income from Continuing Ops | $188M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $188M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $180M |
| D&A | $67M |
| EBIT | $237M |
| EBITDA | $304M |
| EPS | $2 |
| EPS Diluted | $2 |
| Item | Amount |
|---|---|
| Net Income | $188M |
| Depreciation & Amortization | $37M |
| Stock-Based Compensation | $8M |
| Deferred Income Tax | $1M |
| Other Non-Cash Items | -$19M |
| Change in Working Capital | $57M |
| OPERATING CASH FLOW | $272M |
| Capital Expenditure | -$14M |
| Acquisitions (Net) | -$5M |
| Purchases of Investments | -$1.8B |
| Sales/Maturities of Investments | $555M |
| Other Investing Activities | -$913M |
| NET CASH FROM INVESTING | -$2.1B |
| Net Debt Issuance | -$189M |
| Common Stock Repurchased | -$1M |
| Common Dividends Paid | -$33M |
| Other Financing Activities | $54M |
| NET CASH FROM FINANCING | -$284M |
| FREE CASH FLOW | $258M |
| Net Change in Cash | -$2.2B |
| Item | Amount |
|---|---|
| Cash & Equivalents | $9.0B |
| Short-Term Investments | $8.4B |
| Net Receivables | $439M |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $17.8B |
| PP&E (Net) | $399M |
| Goodwill | $1.8B |
| Intangible Assets | $511M |
| Long-Term Investments | $48.4B |
| Tax Assets | $0 |
| Other Non-Current Assets | $2.9B |
| TOTAL NON-CURRENT ASSETS | $54.1B |
| TOTAL ASSETS | $71.9B |
| Account Payables | $0 |
| Short-Term Debt | $2.8B |
| Deferred Revenue | $0 |
| Other Current Liabilities | $60.1B |
| TOTAL CURRENT LIABILITIES | $63.4B |
| Long-Term Debt | $252M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $757M |
| TOTAL NON-CURRENT LIABILITIES | $1.0B |
| TOTAL LIABILITIES | $64.4B |
| Common Stock | $79M |
| Additional Paid-In Capital | $4.0B |
| Retained Earnings | $3.6B |
| Treasury Stock | -$165M |
| Accum. Other Comp. Income | -$325M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $7.4B |
| Minority Interest | $0 |
| TOTAL EQUITY | $7.4B |
| TOTAL LIABILITIES & EQUITY | $71.9B |
| Total Debt | $3.1B |
| Net Debt | -$5.9B |
