FY 2025 Earnings

Reported December 30, 2025

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Metric	FY 2025	Prior Q	FY 2024	QoQ Change	YoY Change
Revenue	$1.1B	—	$858M	—	26.6%
Op. Income	$233M	—	$274M	—	-15.0%
Gross Margin	73.6%	—	66.6%	—	6.9pp
Net Margin	19.2%	—	26.2%	—	-7.1pp
EPS (Diluted)	$30.04	—	$27.62	—	8.8%

Revenue Flow

Item	Amount
REVENUE	$1.1B
Cost of Revenue	$287M
GROSS PROFIT	$799M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$566M
Operating Expenses	$566M
Cost & Expenses	$853M
OPERATING INCOME	$233M
Interest Income	$200M
Interest Expense	$0
Other Income/Expenses	$17M
INCOME BEFORE TAX	$250M
Income Tax Expense	$41M
Net Income from Continuing Ops	$208M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$208M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$208M
D&A	$0
EBIT	$250M
EBITDA	$250M
EPS	$31
EPS Diluted	$30

Income Statement

Item	Amount
REVENUE	$1.1B
Cost of Revenue	$287M
GROSS PROFIT	$799M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$566M
Operating Expenses	$566M
Cost & Expenses	$853M
OPERATING INCOME	$233M
Interest Income	$200M
Interest Expense	$0
Other Income/Expenses	$17M
INCOME BEFORE TAX	$250M
Income Tax Expense	$41M
Net Income from Continuing Ops	$208M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$208M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$208M
D&A	$0
EBIT	$250M
EBITDA	$250M
EPS	$31
EPS Diluted	$30

Balance Sheet

Item	Amount
Cash & Equivalents	$312M
Short-Term Investments	$182M
Net Receivables	$460M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$954M
PP&E (Net)	$3M
Goodwill	$0
Intangible Assets	$6M
Long-Term Investments	$850M
Tax Assets	$67M
Other Non-Current Assets	$265M
TOTAL NON-CURRENT ASSETS	$1.2B
TOTAL ASSETS	$2.1B
Account Payables	$0
Short-Term Debt	$60M
Deferred Revenue	$0
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$60M
Long-Term Debt	$0
Deferred Revenue NC	$68M
Deferred Tax Liabilities	$10M
Other Non-Current Liabilities	$858M
TOTAL NON-CURRENT LIABILITIES	$936M
TOTAL LIABILITIES	$996M
Common Stock	$30.3K
Additional Paid-In Capital	$476M
Retained Earnings	$802M
Treasury Stock	-$141M
Accum. Other Comp. Income	$9M
Other Equity	$1
TOTAL STOCKHOLDERS' EQUITY	$1.1B
Minority Interest	$0
TOTAL EQUITY	$1.1B
TOTAL LIABILITIES & EQUITY	$2.1B
Total Debt	$60M
Net Debt	-$252M