| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $1.4B | $1.4B | $1.3B | 0.6% | 9.0% |
| Op. Income | $356M | $314M | $259M | 13.4% | 37.1% |
| Gross Margin | 62.7% | 60.3% | 59.0% | 2.4pp | 3.8pp |
| Net Margin | 20.3% | 18.1% | 16.8% | 2.2pp | 3.5pp |
| EPS (Diluted) | $2.59 | $2.28 | $1.95 | 13.6% | 32.8% |
| Free Cash Flow | -$118M | -$626M | -$648M | 81.1% | 81.8% |
| Item | Amount |
|---|---|
| REVENUE | $1.4B |
| Cost of Revenue | $524M |
| GROSS PROFIT | $882M |
| R&D Expenses | $0 |
| Selling & Marketing | $11M |
| General & Administrative | $34M |
| SG&A Expenses | $45M |
| Other Expenses | $482M |
| Operating Expenses | $527M |
| Cost & Expenses | $1.1B |
| OPERATING INCOME | $356M |
| Interest Income | $1.2B |
| Interest Expense | $451M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $356M |
| Income Tax Expense | $63M |
| Net Income from Continuing Ops | $293M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $286M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $283M |
| D&A | $0 |
| EBIT | $356M |
| EBITDA | $356M |
| EPS | $3 |
| EPS Diluted | $3 |
| Item | Amount |
|---|---|
| REVENUE | $1.4B |
| Cost of Revenue | $524M |
| GROSS PROFIT | $882M |
| R&D Expenses | $0 |
| Selling & Marketing | $11M |
| General & Administrative | $34M |
| SG&A Expenses | $45M |
| Other Expenses | $482M |
| Operating Expenses | $527M |
| Cost & Expenses | $1.1B |
| OPERATING INCOME | $356M |
| Interest Income | $1.2B |
| Interest Expense | $451M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $356M |
| Income Tax Expense | $63M |
| Net Income from Continuing Ops | $293M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $286M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $283M |
| D&A | $0 |
| EBIT | $356M |
| EBITDA | $356M |
| EPS | $3 |
| EPS Diluted | $3 |
| Item | Amount |
|---|---|
| Net Income | $286M |
| Depreciation & Amortization | -$79M |
| Stock-Based Compensation | -$39M |
| Deferred Income Tax | $100M |
| Other Non-Cash Items | -$1.3B |
| Change in Working Capital | $996M |
| OPERATING CASH FLOW | -$70M |
| Capital Expenditure | -$48M |
| Acquisitions (Net) | -$7M |
| Purchases of Investments | -$4.3B |
| Sales/Maturities of Investments | $2.6B |
| Other Investing Activities | -$2.1B |
| NET CASH FROM INVESTING | -$3.8B |
| Net Debt Issuance | $1.9B |
| Common Stock Repurchased | -$58M |
| Common Dividends Paid | -$49M |
| Other Financing Activities | -$90M |
| NET CASH FROM FINANCING | $1.7B |
| FREE CASH FLOW | -$118M |
| Net Change in Cash | -$2.2B |
| Item | Amount |
|---|---|
| Cash & Equivalents | $3.6B |
| Short-Term Investments | $10.4B |
| Net Receivables | $0 |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $14.0B |
| PP&E (Net) | $573M |
| Goodwill | $527M |
| Intangible Assets | $1.6B |
| Long-Term Investments | $72.4B |
| Tax Assets | $349M |
| Other Non-Current Assets | $3.4B |
| TOTAL NON-CURRENT ASSETS | $78.8B |
| TOTAL ASSETS | $92.8B |
| Account Payables | $0 |
| Short-Term Debt | $3.9B |
| Deferred Revenue | $0 |
| Other Current Liabilities | $77.2B |
| TOTAL CURRENT LIABILITIES | $81.0B |
| Long-Term Debt | $2.5B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $1.2B |
| TOTAL NON-CURRENT LIABILITIES | $3.8B |
| TOTAL LIABILITIES | $84.8B |
| Common Stock | $2.2B |
| Additional Paid-In Capital | $0 |
| Retained Earnings | $5.6B |
| Treasury Stock | -$137M |
| Accum. Other Comp. Income | -$344M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $7.7B |
| Minority Interest | $293M |
| TOTAL EQUITY | $7.9B |
| TOTAL LIABILITIES & EQUITY | $92.8B |
| Total Debt | $6.5B |
| Net Debt | $2.9B |
