| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $654M | $676M | $554M | -3.3% | 18.1% |
| Op. Income | -$11M | -$3M | -$69M | -266.7% | 84.1% |
| Gross Margin | 72.8% | 72.6% | 75.8% | 0.1pp | -3.0pp |
| Net Margin | 0.5% | 1.5% | -9.4% | -1.0pp | 9.8pp |
| EPS (Diluted) | $0.01 | $0.04 | $-0.22 | -69.5% | 105.4% |
| Free Cash Flow | $51M | $73M | $81M | -30.1% | -37.0% |
| Item | Amount |
|---|---|
| REVENUE | $654M |
| Cost of Revenue | $178M |
| GROSS PROFIT | $476M |
| R&D Expenses | $154M |
| Selling & Marketing | $205M |
| General & Administrative | $128M |
| SG&A Expenses | $333M |
| Other Expenses | $0 |
| Operating Expenses | $487M |
| Cost & Expenses | $665M |
| OPERATING INCOME | -$11M |
| Interest Income | $0 |
| Interest Expense | $5M |
| Other Income/Expenses | $14M |
| INCOME BEFORE TAX | $3M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | $3M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $3M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $3M |
| D&A | $72M |
| EBIT | -$11M |
| EBITDA | $61M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $3M |
| Depreciation & Amortization | $67M |
| Stock-Based Compensation | $95M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $14M |
| Change in Working Capital | -$107M |
| OPERATING CASH FLOW | $72M |
| Capital Expenditure | -$21M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$84M |
| Sales/Maturities of Investments | $73M |
| Other Investing Activities | -$11M |
| NET CASH FROM INVESTING | -$50M |
| Net Debt Issuance | $92M |
| Common Stock Repurchased | -$232M |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | -$128M |
| FREE CASH FLOW | $51M |
| Net Change in Cash | -$106M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $773M |
| Short-Term Investments | $527M |
| Net Receivables | $176M |
| Inventory | $0 |
| Other Current Assets | $651M |
| TOTAL CURRENT ASSETS | $2.1B |
| PP&E (Net) | $406M |
| Goodwill | $2.8B |
| Intangible Assets | $279M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $55M |
| TOTAL NON-CURRENT ASSETS | $3.6B |
| TOTAL ASSETS | $5.7B |
| Account Payables | $36M |
| Short-Term Debt | $378M |
| Deferred Revenue | $69M |
| Other Current Liabilities | $134M |
| TOTAL CURRENT LIABILITIES | $679M |
| Long-Term Debt | $79M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | -$36M |
| TOTAL NON-CURRENT LIABILITIES | $122M |
| TOTAL LIABILITIES | $801M |
| Common Stock | $0 |
| Additional Paid-In Capital | $6.7B |
| Retained Earnings | -$1.9B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $2M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $4.9B |
| Minority Interest | $0 |
| TOTAL EQUITY | $4.9B |
| TOTAL LIABILITIES & EQUITY | $5.7B |
| Total Debt | $536M |
| Net Debt | -$237M |
