| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $892M | $868M | $914M | 2.8% | -2.4% |
| Op. Income | $210M | $173M | $127M | 21.3% | 65.7% |
| Gross Margin | 55.2% | 52.7% | 42.5% | 2.5pp | 12.6pp |
| Net Margin | 18.3% | 15.3% | 10.7% | 3.0pp | 7.6pp |
| EPS (Diluted) | $0.28 | $0.22 | $0.18 | 27.3% | 55.6% |
| Free Cash Flow | -$758.0K | $159M | -$157M | -100.5% | 99.5% |
| Item | Amount |
|---|---|
| REVENUE | $892M |
| Cost of Revenue | $400M |
| GROSS PROFIT | $492M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $155M |
| SG&A Expenses | $155M |
| Other Expenses | $127M |
| Operating Expenses | $282M |
| Cost & Expenses | $682M |
| OPERATING INCOME | $210M |
| Interest Income | $827M |
| Interest Expense | $381M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $210M |
| Income Tax Expense | $47M |
| Net Income from Continuing Ops | $163M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $163M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $156M |
| D&A | $16M |
| EBIT | $210M |
| EBITDA | $226M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $892M |
| Cost of Revenue | $400M |
| GROSS PROFIT | $492M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $155M |
| SG&A Expenses | $155M |
| Other Expenses | $127M |
| Operating Expenses | $282M |
| Cost & Expenses | $682M |
| OPERATING INCOME | $210M |
| Interest Income | $827M |
| Interest Expense | $381M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $210M |
| Income Tax Expense | $47M |
| Net Income from Continuing Ops | $163M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $163M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $156M |
| D&A | $16M |
| EBIT | $210M |
| EBITDA | $226M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $163M |
| Depreciation & Amortization | $16M |
| Stock-Based Compensation | $4M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $21M |
| Change in Working Capital | -$200M |
| OPERATING CASH FLOW | $5M |
| Capital Expenditure | -$6M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$433M |
| Sales/Maturities of Investments | $232M |
| Other Investing Activities | $108M |
| NET CASH FROM INVESTING | -$93M |
| Net Debt Issuance | -$111M |
| Common Stock Repurchased | -$13M |
| Common Dividends Paid | -$62M |
| Other Financing Activities | $451M |
| NET CASH FROM FINANCING | $272M |
| FREE CASH FLOW | -$758.0K |
| Net Change in Cash | $184M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $1.4B |
| Short-Term Investments | $238M |
| Net Receivables | $243M |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $1.9B |
| PP&E (Net) | $650M |
| Goodwill | $1.9B |
| Intangible Assets | $108M |
| Long-Term Investments | $56.2B |
| Tax Assets | $0 |
| Other Non-Current Assets | $2.3B |
| TOTAL NON-CURRENT ASSETS | $61.2B |
| TOTAL ASSETS | $63.0B |
| Account Payables | $0 |
| Short-Term Debt | $51M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $51.2B |
| TOTAL CURRENT LIABILITIES | $51.2B |
| Long-Term Debt | $3.0B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $755M |
| TOTAL NON-CURRENT LIABILITIES | $4.1B |
| TOTAL LIABILITIES | $55.3B |
| Common Stock | $197M |
| Additional Paid-In Capital | $5.5B |
| Retained Earnings | $1.8B |
| Treasury Stock | -$985.0K |
| Accum. Other Comp. Income | -$99M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $7.7B |
| Minority Interest | $0 |
| TOTAL EQUITY | $7.7B |
| TOTAL LIABILITIES & EQUITY | $63.0B |
| Total Debt | $3.4B |
| Net Debt | $2.0B |
