| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $505M | $490M | $445M | 3.1% | 13.6% |
| Op. Income | -$7M | $44M | $26M | -116.6% | -128.5% |
| Gross Margin | 68.3% | 68.7% | 68.1% | -0.4pp | 0.3pp |
| Net Margin | -0.1% | 11.8% | 6.0% | -11.9pp | -6.1pp |
| EPS (Diluted) | $-0.01 | $0.97 | $0.46 | -101.1% | -102.3% |
| Free Cash Flow | $145M | $148M | $128M | -1.6% | 13.7% |
| Item | Amount |
|---|---|
| REVENUE | $505M |
| Cost of Revenue | $160M |
| GROSS PROFIT | $345M |
| R&D Expenses | $172M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $181M |
| Other Expenses | $0 |
| Operating Expenses | $353M |
| Cost & Expenses | $513M |
| OPERATING INCOME | -$7M |
| Interest Income | $15M |
| Interest Expense | $0 |
| Other Income/Expenses | $19M |
| INCOME BEFORE TAX | $12M |
| Income Tax Expense | $12M |
| Net Income from Continuing Ops | -$589.0K |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$589.0K |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$589.0K |
| D&A | $8M |
| EBIT | -$7M |
| EBITDA | $189.0K |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$589.0K |
| Depreciation & Amortization | $8M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | -$70M |
| Other Non-Cash Items | $66M |
| Change in Working Capital | $144M |
| OPERATING CASH FLOW | $147M |
| Capital Expenditure | -$1M |
| Acquisitions (Net) | -$757.0K |
| Purchases of Investments | -$466M |
| Sales/Maturities of Investments | $188M |
| Other Investing Activities | -$10M |
| NET CASH FROM INVESTING | -$281M |
| Net Debt Issuance | $574M |
| Common Stock Repurchased | -$195M |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$75M |
| NET CASH FROM FINANCING | $338M |
| FREE CASH FLOW | $145M |
| Net Change in Cash | $194M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $899M |
| Short-Term Investments | $695M |
| Net Receivables | $55M |
| Inventory | $0 |
| Other Current Assets | $102M |
| TOTAL CURRENT ASSETS | $1.8B |
| PP&E (Net) | $516M |
| Goodwill | $0 |
| Intangible Assets | $174M |
| Long-Term Investments | $5M |
| Tax Assets | $72M |
| Other Non-Current Assets | $40M |
| TOTAL NON-CURRENT ASSETS | $808M |
| TOTAL ASSETS | $2.6B |
| Account Payables | $33M |
| Short-Term Debt | $42M |
| Deferred Revenue | $729M |
| Other Current Liabilities | $162M |
| TOTAL CURRENT LIABILITIES | $1.1B |
| Long-Term Debt | $1.1B |
| Deferred Revenue NC | $111M |
| Deferred Tax Liabilities | $5M |
| Other Non-Current Liabilities | $115M |
| TOTAL NON-CURRENT LIABILITIES | $1.8B |
| TOTAL LIABILITIES | $2.8B |
| Common Stock | $105.0K |
| Additional Paid-In Capital | $2.0B |
| Retained Earnings | -$811M |
| Treasury Stock | -$1.5B |
| Accum. Other Comp. Income | $24M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | -$279M |
| Minority Interest | $0 |
| TOTAL EQUITY | -$279M |
| TOTAL LIABILITIES & EQUITY | $2.6B |
| Total Debt | $1.6B |
| Net Debt | $672M |
