| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $2.0B | $1.9B | $1.7B | 6.3% | 19.1% |
| Op. Income | $605M | $546M | $490M | 10.8% | 23.5% |
| Gross Margin | 43.6% | 42.2% | 42.2% | 1.4pp | 1.4pp |
| Net Margin | 25.7% | 23.3% | 22.3% | 2.4pp | 3.4pp |
| EPS (Diluted) | $1.15 | $0.99 | $0.86 | 16.2% | 33.7% |
| Free Cash Flow | $609M | -$197M | $715M | 408.7% | -14.7% |
| Item | Amount |
|---|---|
| REVENUE | $2.0B |
| Cost of Revenue | $1.1B |
| GROSS PROFIT | $872M |
| R&D Expenses | $0 |
| Selling & Marketing | $267M |
| General & Administrative | $0 |
| SG&A Expenses | $267M |
| Other Expenses | $0 |
| Operating Expenses | $267M |
| Cost & Expenses | $1.4B |
| OPERATING INCOME | $605M |
| Interest Income | $18M |
| Interest Expense | $107M |
| Other Income/Expenses | -$84M |
| INCOME BEFORE TAX | $521M |
| Income Tax Expense | $7M |
| Net Income from Continuing Ops | $514M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $514M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $514M |
| D&A | $70M |
| EBIT | $628M |
| EBITDA | $698M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| REVENUE | $2.0B |
| Cost of Revenue | $1.1B |
| GROSS PROFIT | $872M |
| R&D Expenses | $0 |
| Selling & Marketing | $267M |
| General & Administrative | $0 |
| SG&A Expenses | $267M |
| Other Expenses | $0 |
| Operating Expenses | $267M |
| Cost & Expenses | $1.4B |
| OPERATING INCOME | $605M |
| Interest Income | $18M |
| Interest Expense | $107M |
| Other Income/Expenses | -$84M |
| INCOME BEFORE TAX | $521M |
| Income Tax Expense | $7M |
| Net Income from Continuing Ops | $514M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $514M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $514M |
| D&A | $70M |
| EBIT | $628M |
| EBITDA | $698M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $514M |
| Depreciation & Amortization | $78M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $41M |
| Change in Working Capital | $31M |
| OPERATING CASH FLOW | $664M |
| Capital Expenditure | -$55M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $25M |
| NET CASH FROM INVESTING | -$30M |
| Net Debt Issuance | -$78M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$127M |
| NET CASH FROM FINANCING | -$202M |
| FREE CASH FLOW | $609M |
| Net Change in Cash | $432M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $3.0B |
| Short-Term Investments | $10M |
| Net Receivables | $130M |
| Inventory | $99M |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $3.9B |
| PP&E (Net) | $7.4B |
| Goodwill | $0 |
| Intangible Assets | $68M |
| Long-Term Investments | $4M |
| Tax Assets | $54M |
| Other Non-Current Assets | $163M |
| TOTAL NON-CURRENT ASSETS | $7.7B |
| TOTAL ASSETS | $11.5B |
| Account Payables | $263M |
| Short-Term Debt | $1.1B |
| Deferred Revenue | $4.3B |
| Other Current Liabilities | $56M |
| TOTAL CURRENT LIABILITIES | $6.1B |
| Long-Term Debt | $4.3B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $46M |
| TOTAL NON-CURRENT LIABILITIES | $4.6B |
| TOTAL LIABILITIES | $10.7B |
| Common Stock | $4M |
| Additional Paid-In Capital | $5.0B |
| Retained Earnings | -$4.4B |
| Treasury Stock | -$124M |
| Accum. Other Comp. Income | $56M |
| Other Equity | $284M |
| TOTAL STOCKHOLDERS' EQUITY | $800M |
| Minority Interest | $3M |
| TOTAL EQUITY | $804M |
| TOTAL LIABILITIES & EQUITY | $11.5B |
| Total Debt | $5.6B |
| Net Debt | $2.6B |
