| Metric | Q2 2025 | Q1 2025 | Q2 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $257M | $212M | $138M | 21.3% | 86.4% |
| Op. Income | $97M | $81M | $66M | 19.8% | 48.3% |
| Gross Margin | 40.7% | 41.8% | 51.8% | -1.1pp | -11.1pp |
| Net Margin | 30.0% | 31.6% | 44.0% | -1.6pp | -14.0pp |
| EPS (Diluted) | $10.52 | $9.26 | $7.26 | 13.6% | 44.9% |
| Free Cash Flow | $0 | $0 | $0 | — | — |
| Item | Amount |
|---|---|
| REVENUE | $257M |
| Cost of Revenue | $153M |
| GROSS PROFIT | $105M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $7M |
| SG&A Expenses | $7M |
| Other Expenses | -$32.3K |
| Operating Expenses | $7M |
| Cost & Expenses | $160M |
| OPERATING INCOME | $97M |
| Interest Income | $47M |
| Interest Expense | $111M |
| Other Income/Expenses | -$4M |
| INCOME BEFORE TAX | $93M |
| Income Tax Expense | $16M |
| Net Income from Continuing Ops | $77M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $77M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $77M |
| D&A | $0 |
| EBIT | $97M |
| EBITDA | $97M |
| EPS | $11 |
| EPS Diluted | $11 |
| Item | Amount |
|---|---|
| REVENUE | $257M |
| Cost of Revenue | $153M |
| GROSS PROFIT | $105M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $7M |
| SG&A Expenses | $7M |
| Other Expenses | -$32.3K |
| Operating Expenses | $7M |
| Cost & Expenses | $160M |
| OPERATING INCOME | $97M |
| Interest Income | $47M |
| Interest Expense | $111M |
| Other Income/Expenses | -$4M |
| INCOME BEFORE TAX | $93M |
| Income Tax Expense | $16M |
| Net Income from Continuing Ops | $77M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $77M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $77M |
| D&A | $0 |
| EBIT | $97M |
| EBITDA | $97M |
| EPS | $11 |
| EPS Diluted | $11 |
| Item | Amount |
|---|---|
| Net Income | $77M |
| Depreciation & Amortization | $0 |
| Stock-Based Compensation | $2M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$79M |
| Change in Working Capital | $0 |
| OPERATING CASH FLOW | $0 |
| Capital Expenditure | $0 |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $0 |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $0 |
| FREE CASH FLOW | $0 |
| Net Change in Cash | $0 |
| Item | Amount |
|---|---|
| Cash & Equivalents | $481M |
| Short-Term Investments | $0 |
| Net Receivables | $462M |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $943M |
| PP&E (Net) | $3M |
| Goodwill | $0 |
| Intangible Assets | $5M |
| Long-Term Investments | $871M |
| Tax Assets | $38M |
| Other Non-Current Assets | $139M |
| TOTAL NON-CURRENT ASSETS | $1.1B |
| TOTAL ASSETS | $2.0B |
| Account Payables | $0 |
| Short-Term Debt | $59M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $70M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $47M |
| Deferred Tax Liabilities | $8M |
| Other Non-Current Liabilities | $746M |
| TOTAL NON-CURRENT LIABILITIES | $802M |
| TOTAL LIABILITIES | $872M |
| Common Stock | $30.2K |
| Additional Paid-In Capital | $474M |
| Retained Earnings | $743M |
| Treasury Stock | -$100M |
| Accum. Other Comp. Income | $11M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $1.1B |
| Minority Interest | $0 |
| TOTAL EQUITY | $1.1B |
| TOTAL LIABILITIES & EQUITY | $2.0B |
| Total Debt | $59M |
| Net Debt | -$423M |
