| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $1.1B | $1.1B | $1.0B | 0.3% | 8.1% |
| Op. Income | $321M | $332M | $257M | -3.3% | 24.8% |
| Gross Margin | 62.2% | 61.0% | 57.0% | 1.2pp | 5.1pp |
| Net Margin | 22.6% | 23.1% | 17.0% | -0.5pp | 5.6pp |
| EPS (Diluted) | $1.55 | $1.54 | $1.01 | 0.6% | 53.5% |
| Free Cash Flow | $302M | $363M | $879M | -16.7% | -65.7% |
| Item | Amount |
|---|---|
| REVENUE | $1.1B |
| Cost of Revenue | $428M |
| GROSS PROFIT | $704M |
| R&D Expenses | $0 |
| Selling & Marketing | $19M |
| General & Administrative | $214M |
| SG&A Expenses | $233M |
| Other Expenses | $150M |
| Operating Expenses | $383M |
| Cost & Expenses | $812M |
| OPERATING INCOME | $321M |
| Interest Income | $1.0B |
| Interest Expense | $386M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $321M |
| Income Tax Expense | $65M |
| Net Income from Continuing Ops | $256M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $256M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $256M |
| D&A | $55M |
| EBIT | $321M |
| EBITDA | $376M |
| EPS | $2 |
| EPS Diluted | $2 |
| Item | Amount |
|---|---|
| REVENUE | $1.1B |
| Cost of Revenue | $428M |
| GROSS PROFIT | $704M |
| R&D Expenses | $0 |
| Selling & Marketing | $19M |
| General & Administrative | $214M |
| SG&A Expenses | $233M |
| Other Expenses | $150M |
| Operating Expenses | $383M |
| Cost & Expenses | $812M |
| OPERATING INCOME | $321M |
| Interest Income | $1.0B |
| Interest Expense | $386M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $321M |
| Income Tax Expense | $65M |
| Net Income from Continuing Ops | $256M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $256M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $256M |
| D&A | $55M |
| EBIT | $321M |
| EBITDA | $376M |
| EPS | $2 |
| EPS Diluted | $2 |
| Item | Amount |
|---|---|
| Net Income | $256M |
| Depreciation & Amortization | $19M |
| Stock-Based Compensation | $15M |
| Deferred Income Tax | $16M |
| Other Non-Cash Items | $6M |
| Change in Working Capital | $6M |
| OPERATING CASH FLOW | $318M |
| Capital Expenditure | -$16M |
| Acquisitions (Net) | -$24M |
| Purchases of Investments | -$655M |
| Sales/Maturities of Investments | $597M |
| Other Investing Activities | -$1.6B |
| NET CASH FROM INVESTING | -$1.7B |
| Net Debt Issuance | -$79M |
| Common Stock Repurchased | -$204M |
| Common Dividends Paid | -$65M |
| Other Financing Activities | $1.1B |
| NET CASH FROM FINANCING | $729M |
| FREE CASH FLOW | $302M |
| Net Change in Cash | -$613M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $371M |
| Short-Term Investments | $18.0B |
| Net Receivables | $348M |
| Inventory | $0 |
| Other Current Assets | -$348M |
| TOTAL CURRENT ASSETS | $18.3B |
| PP&E (Net) | $432M |
| Goodwill | $2.9B |
| Intangible Assets | $313M |
| Long-Term Investments | $72.6B |
| Tax Assets | $196M |
| Other Non-Current Assets | -$72.6B |
| TOTAL NON-CURRENT ASSETS | $3.8B |
| TOTAL ASSETS | $84.1B |
| Account Payables | $0 |
| Short-Term Debt | $597M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $44.0B |
| TOTAL CURRENT LIABILITIES | $44.6B |
| Long-Term Debt | $3.7B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $26.2B |
| TOTAL NON-CURRENT LIABILITIES | $29.9B |
| TOTAL LIABILITIES | $74.6B |
| Common Stock | $2M |
| Additional Paid-In Capital | $6.2B |
| Retained Earnings | $4.5B |
| Treasury Stock | -$1.1B |
| Accum. Other Comp. Income | -$351M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $9.5B |
| Minority Interest | $0 |
| TOTAL EQUITY | $9.5B |
| TOTAL LIABILITIES & EQUITY | $84.1B |
| Total Debt | $4.3B |
| Net Debt | $3.9B |
