| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $878M | $476M | $381M | 84.4% | 130.7% |
| Op. Income | $660M | $316M | $118M | 109.2% | 461.1% |
| Gross Margin | 76.7% | 84.4% | 65.0% | -7.7pp | 11.7pp |
| Net Margin | 64.6% | 77.1% | 23.2% | -12.5pp | 41.4pp |
| EPS (Diluted) | $1.25 | $0.81 | $0.19 | 54.3% | 557.9% |
| Free Cash Flow | $101M | $132M | $201M | -23.7% | -49.7% |
| Item | Amount |
|---|---|
| REVENUE | $878M |
| Cost of Revenue | $205M |
| GROSS PROFIT | $673M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $13M |
| Other Expenses | $0 |
| Operating Expenses | $13M |
| Cost & Expenses | $218M |
| OPERATING INCOME | $660M |
| Interest Income | $10M |
| Interest Expense | $1M |
| Other Income/Expenses | $662.0K |
| INCOME BEFORE TAX | $661M |
| Income Tax Expense | $94M |
| Net Income from Continuing Ops | $567M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $567M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $567M |
| D&A | $88M |
| EBIT | $660M |
| EBITDA | $748M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| REVENUE | $878M |
| Cost of Revenue | $205M |
| GROSS PROFIT | $673M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $13M |
| Other Expenses | $0 |
| Operating Expenses | $13M |
| Cost & Expenses | $218M |
| OPERATING INCOME | $660M |
| Interest Income | $10M |
| Interest Expense | $1M |
| Other Income/Expenses | $662.0K |
| INCOME BEFORE TAX | $661M |
| Income Tax Expense | $94M |
| Net Income from Continuing Ops | $567M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $567M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $567M |
| D&A | $88M |
| EBIT | $660M |
| EBITDA | $748M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $567M |
| Depreciation & Amortization | $88M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | -$2M |
| Other Non-Cash Items | $104M |
| Change in Working Capital | $2M |
| OPERATING CASH FLOW | $759M |
| Capital Expenditure | -$658M |
| Acquisitions (Net) | -$104M |
| Purchases of Investments | -$31M |
| Sales/Maturities of Investments | $104M |
| Other Investing Activities | $41.2K |
| NET CASH FROM INVESTING | -$689M |
| Net Debt Issuance | -$167.0K |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | -$75M |
| Other Financing Activities | -$2.7K |
| NET CASH FROM FINANCING | -$75M |
| FREE CASH FLOW | $101M |
| Net Change in Cash | -$5M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $1.2B |
| Short-Term Investments | $0 |
| Net Receivables | $47M |
| Inventory | $0 |
| Other Current Assets | $4M |
| TOTAL CURRENT ASSETS | $1.2B |
| PP&E (Net) | $7.4B |
| Goodwill | $0 |
| Intangible Assets | $1M |
| Long-Term Investments | $457M |
| Tax Assets | $44M |
| Other Non-Current Assets | $15M |
| TOTAL NON-CURRENT ASSETS | $8.0B |
| TOTAL ASSETS | $9.2B |
| Account Payables | $23M |
| Short-Term Debt | $574.0K |
| Deferred Revenue | $0 |
| Other Current Liabilities | $22M |
| TOTAL CURRENT LIABILITIES | $154M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $46M |
| Other Non-Current Liabilities | $271M |
| TOTAL NON-CURRENT LIABILITIES | $324M |
| TOTAL LIABILITIES | $479M |
| Common Stock | $3.8B |
| Additional Paid-In Capital | $0 |
| Retained Earnings | $4.7B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $32M |
| Other Equity | $144M |
| TOTAL STOCKHOLDERS' EQUITY | $8.7B |
| Minority Interest | $0 |
| TOTAL EQUITY | $8.7B |
| TOTAL LIABILITIES & EQUITY | $9.2B |
| Total Debt | $8M |
| Net Debt | -$1.1B |
