| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $425M | $419M | $395M | 1.5% | 7.6% |
| Op. Income | $285M | $284M | $264M | 0.2% | 8.0% |
| Gross Margin | 88.5% | 88.4% | 87.8% | 0.1pp | 0.7pp |
| Net Margin | 48.5% | 50.8% | 48.4% | -2.3pp | 0.1pp |
| EPS (Diluted) | $2.23 | $2.27 | $2.00 | -1.8% | 11.5% |
| Free Cash Flow | $285M | $303M | $222M | -5.9% | 28.4% |
| Item | Amount |
|---|---|
| REVENUE | $425M |
| Cost of Revenue | $49M |
| GROSS PROFIT | $376M |
| R&D Expenses | $27M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $65M |
| Other Expenses | $0 |
| Operating Expenses | $92M |
| Cost & Expenses | $141M |
| OPERATING INCOME | $285M |
| Interest Income | $6M |
| Interest Expense | $19M |
| Other Income/Expenses | -$14M |
| INCOME BEFORE TAX | $271M |
| Income Tax Expense | $65M |
| Net Income from Continuing Ops | $206M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $206M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $206M |
| D&A | $7M |
| EBIT | $285M |
| EBITDA | $292M |
| EPS | $2 |
| EPS Diluted | $2 |
| Item | Amount |
|---|---|
| REVENUE | $425M |
| Cost of Revenue | $49M |
| GROSS PROFIT | $376M |
| R&D Expenses | $27M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $65M |
| Other Expenses | $0 |
| Operating Expenses | $92M |
| Cost & Expenses | $141M |
| OPERATING INCOME | $285M |
| Interest Income | $6M |
| Interest Expense | $19M |
| Other Income/Expenses | -$14M |
| INCOME BEFORE TAX | $271M |
| Income Tax Expense | $65M |
| Net Income from Continuing Ops | $206M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $206M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $206M |
| D&A | $7M |
| EBIT | $285M |
| EBITDA | $292M |
| EPS | $2 |
| EPS Diluted | $2 |
| Item | Amount |
|---|---|
| Net Income | $206M |
| Depreciation & Amortization | $7M |
| Stock-Based Compensation | -$52M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $105M |
| Change in Working Capital | $24M |
| OPERATING CASH FLOW | $290M |
| Capital Expenditure | -$5M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$179M |
| Sales/Maturities of Investments | $292M |
| Other Investing Activities | -$200.0K |
| NET CASH FROM INVESTING | $109M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | -$254M |
| Common Dividends Paid | -$215M |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | -$326M |
| FREE CASH FLOW | $285M |
| Net Change in Cash | $73M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $308M |
| Short-Term Investments | $273M |
| Net Receivables | $15M |
| Inventory | $0 |
| Other Current Assets | $2M |
| TOTAL CURRENT ASSETS | $653M |
| PP&E (Net) | $224M |
| Goodwill | $53M |
| Intangible Assets | $145M |
| Long-Term Investments | $0 |
| Tax Assets | $233M |
| Other Non-Current Assets | $19M |
| TOTAL NON-CURRENT ASSETS | $673M |
| TOTAL ASSETS | $1.3B |
| Account Payables | $14M |
| Short-Term Debt | $0 |
| Deferred Revenue | $1.1B |
| Other Current Liabilities | $77M |
| TOTAL CURRENT LIABILITIES | $1.3B |
| Long-Term Debt | $1.8B |
| Deferred Revenue NC | $349M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $5M |
| TOTAL NON-CURRENT LIABILITIES | $2.1B |
| TOTAL LIABILITIES | $3.5B |
| Common Stock | $9.6B |
| Additional Paid-In Capital | $0 |
| Retained Earnings | -$11.8B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$3M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | -$2.2B |
| Minority Interest | $0 |
| TOTAL EQUITY | -$2.2B |
| TOTAL LIABILITIES & EQUITY | $1.3B |
| Total Debt | $1.8B |
| Net Debt | $1.5B |
