| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $1.4B | — | $2.0B | — | -29.5% |
| Op. Income | -$407M | — | $120M | — | -439.2% |
| Gross Margin | 46.5% | — | 43.4% | — | 3.1pp |
| Net Margin | 9.9% | — | 4.8% | — | 5.0pp |
| EPS (Diluted) | $1.44 | — | $0.94 | — | 53.2% |
| Free Cash Flow | $557M | — | $79M | — | 605.1% |
| Item | Amount |
|---|---|
| REVENUE | $1.4B |
| Cost of Revenue | $758M |
| GROSS PROFIT | $660M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | -$2.6B |
| Other Expenses | $3.6B |
| Operating Expenses | $1.1B |
| Cost & Expenses | $1.8B |
| OPERATING INCOME | -$407M |
| Interest Income | $0 |
| Interest Expense | $38M |
| Other Income/Expenses | $576M |
| INCOME BEFORE TAX | $169M |
| Income Tax Expense | $20M |
| Net Income from Continuing Ops | $149M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $140M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $136M |
| D&A | $0 |
| EBIT | -$597M |
| EBITDA | -$597M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $140M |
| Depreciation & Amortization | $0 |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $257M |
| Change in Working Capital | $160M |
| OPERATING CASH FLOW | $557M |
| Capital Expenditure | $0 |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$3.2B |
| Sales/Maturities of Investments | $2.8B |
| Other Investing Activities | -$16M |
| NET CASH FROM INVESTING | -$372M |
| Net Debt Issuance | $51M |
| Common Stock Repurchased | -$100M |
| Common Dividends Paid | -$45M |
| Other Financing Activities | -$15M |
| NET CASH FROM FINANCING | -$113M |
| FREE CASH FLOW | $557M |
| Net Change in Cash | $72M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $1.2B |
| Short-Term Investments | $0 |
| Net Receivables | $10.7B |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $11.9B |
| PP&E (Net) | $0 |
| Goodwill | $0 |
| Intangible Assets | $7.2B |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $159.7B |
| TOTAL NON-CURRENT ASSETS | $166.9B |
| TOTAL ASSETS | $178.9B |
| Account Payables | $0 |
| Short-Term Debt | $586M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $586M |
| Long-Term Debt | $1.5B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $169.7B |
| TOTAL NON-CURRENT LIABILITIES | $171.2B |
| TOTAL LIABILITIES | $171.8B |
| Common Stock | $1M |
| Additional Paid-In Capital | $6.4B |
| Retained Earnings | $1.4B |
| Treasury Stock | -$1.0B |
| Accum. Other Comp. Income | -$1.8B |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $5.0B |
| Minority Interest | $2.1B |
| TOTAL EQUITY | $7.0B |
| TOTAL LIABILITIES & EQUITY | $178.6B |
| Total Debt | $2.1B |
| Net Debt | $876M |
