| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $719M | $678M | $593M | 6.1% | 21.3% |
| Op. Income | -$32M | -$22M | -$26M | -43.8% | -25.6% |
| Gross Margin | 76.1% | 77.0% | 77.9% | -0.9pp | -1.8pp |
| Net Margin | -2.4% | -0.6% | -2.5% | -1.8pp | 0.1pp |
| EPS (Diluted) | $-0.11 | $-0.03 | $-0.10 | -313.5% | -12.0% |
| Free Cash Flow | $172M | $119M | $136M | 43.9% | 26.1% |
| Item | Amount |
|---|---|
| REVENUE | $719M |
| Cost of Revenue | $172M |
| GROSS PROFIT | $548M |
| R&D Expenses | $178M |
| Selling & Marketing | $331M |
| General & Administrative | $71M |
| SG&A Expenses | $402M |
| Other Expenses | $0 |
| Operating Expenses | $579M |
| Cost & Expenses | $751M |
| OPERATING INCOME | -$32M |
| Interest Income | $33M |
| Interest Expense | $2M |
| Other Income/Expenses | $30M |
| INCOME BEFORE TAX | -$2M |
| Income Tax Expense | $16M |
| Net Income from Continuing Ops | -$18M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$18M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$18M |
| D&A | $18M |
| EBIT | $17M |
| EBITDA | $35M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$18M |
| Depreciation & Amortization | $34M |
| Stock-Based Compensation | $173M |
| Deferred Income Tax | $3M |
| Other Non-Cash Items | $60M |
| Change in Working Capital | -$3M |
| OPERATING CASH FLOW | $251M |
| Capital Expenditure | -$79M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$394M |
| Sales/Maturities of Investments | $225M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$248M |
| Net Debt Issuance | $354M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$352.0K |
| NET CASH FROM FINANCING | $395M |
| FREE CASH FLOW | $172M |
| Net Change in Cash | $398M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $2.4B |
| Short-Term Investments | $1.2B |
| Net Receivables | $992M |
| Inventory | $0 |
| Other Current Assets | $330M |
| TOTAL CURRENT ASSETS | $4.9B |
| PP&E (Net) | $633M |
| Goodwill | $418M |
| Intangible Assets | $47M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $427M |
| TOTAL NON-CURRENT ASSETS | $1.5B |
| TOTAL ASSETS | $6.4B |
| Account Payables | $47M |
| Short-Term Debt | $0 |
| Deferred Revenue | $2.1B |
| Other Current Liabilities | $61M |
| TOTAL CURRENT LIABILITIES | $2.4B |
| Long-Term Debt | $1.7B |
| Deferred Revenue NC | $414M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $33M |
| TOTAL NON-CURRENT LIABILITIES | $2.2B |
| TOTAL LIABILITIES | $4.6B |
| Common Stock | $159.0K |
| Additional Paid-In Capital | $3.0B |
| Retained Earnings | -$1.2B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $8M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $1.8B |
| Minority Interest | $0 |
| TOTAL EQUITY | $1.8B |
| TOTAL LIABILITIES & EQUITY | $6.4B |
| Total Debt | $1.8B |
| Net Debt | -$592M |
