Income StatementBalance SheetCash FlowSegments
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Veeva Systems Income Statement

Revenue, expenses, and profitability over time

Veeva Systems generated $3.2B in trailing twelve-month revenue, up 0.3% year-over-year. Net income was $908.9M with a 28.44% net margin. Gross margin stands at 75.53% and operating margin at 28.68%. Diluted EPS is $5.44, which grew 0.5% year-over-year. Based on the Q1 2026 filing.

Total Revenue (TTM)$3.2BGross Profit (TTM)$2.4BOperating Income (TTM)$916.4MNet Income (TTM)$908.9MEps Diluted (TTM)$5.44
Latest FilingQ1 2026
Report Date2026-03-20
Market Cap$26.1B
P/E Ratio28.76
ROE13.93%

Other Income & Expense

MetricQ3 '25Q4 '25Q1 '26Q2 '26Q3 '26Q4 '26
Derivative Gain (Loss) Excluded from Effectiveness$52.0M$52.0M$66.8M$66.8M$66.8M$66.8M
Interest Income (Expense), Non-operating$52.0M$52.0M$66.8M$66.8M$66.8M$66.8M
Foreign Currency Transaction Gain (Loss)$0.0$7.0M-$7.0M$0.0$0.0-$2.0M
Investment Income Amortization of Discount and Premium$5.7M$5.7M$2.1M$2.1M$2.1M$2.1M
Unrealized foreign currency gain (loss)$0.0$7.0M-$7.0M$0.0$0.0-$2.0M
Realized Foreign Currency Gain (Loss)$0.0$7.0M-$7.0M$0.0$0.0-$2.0M
Other Charges$60.9M$21.5M$65.1M$69.5M$71.9M$71.7M
Interest expense$52.0M$52.0M$66.8M$66.8M$66.8M$66.8M
Net investment gains (losses)-$818.5K-$818.5K$383.8K$383.8K$383.8K$383.8K
Accretion (Amortization) of Investment Discounts and Premiums$2.1M$17.8M$2.5M———
Realized Investment Gains (Losses)-$818.5K-$818.5K$383.8K$383.8K$383.8K$383.8K
Change in Accounts Payable-$171.0K-$5.2M$7.7M———
Interest Income (Expense), Nonoperating$52.0M$52.0M$66.8M$66.8M$66.8M$66.8M
Other income (expense), net$60.9M$21.5M$65.1M$69.5M$71.9M$71.7M
Non-operating Interest Income (Expense)$52.0M$52.0M$66.8M$66.8M$66.8M$66.8M

Tax

MetricQ3 '25Q4 '25Q1 '26Q2 '26Q3 '26Q4 '26
Effective Tax Rate Statutory Reconciliation$0.1$0.1$0.1$0.1$0.1$0.1
Unrecognized Tax Benefits Current Period Increases$1.1M$1.1M$1.2M$1.2M$1.2M$1.2M
Unrecognized Tax Benefits Prior Period Decreases$25.3K$25.3K$7.3K$7.3K$7.3K$7.3K
Effective Tax Rate (Continuing Operations)$0.2—$0.2$0.2$0.2—
Effective Tax Rate$0.2—$0.2$0.2$0.2—
Cash Paid for Income Taxes$38.2M$157.1M$13.9M———
Current income tax expense (benefit)$79.4M$79.4M$55.1M$55.1M$55.1M$55.1M
Deferred Foreign Tax Expense (Benefit)-$917.3K-$917.3K-$886.8K-$886.8K-$886.8K-$886.8K
Effective Tax Rate, Continuing Operations$0.2—$0.2$0.2$0.2—
Income Tax at U.S. Statutory Rate$48.3M$48.3M$62.7M$62.7M$62.7M$62.7M
State and Local Income Taxes, Net$15.7M$15.7M$11.0M$11.0M$11.0M$11.0M
Tax Reconciliation: Other Adjustments——0.0%0.0%0.0%0.0%
Tax Reconciliation: Research and Other Credits——0.5%0.5%0.5%0.5%
Tax Reconciliation: Change in Valuation Allowance——-0.0%-0.0%-0.0%-0.0%
Current State Tax Expense$15.7M$15.7M$11.0M$11.0M$11.0M$11.0M
Deferred Foreign Tax Expense-$917.3K-$917.3K-$886.8K-$886.8K-$886.8K-$886.8K
Effective Income Tax Rate, Continuing Operations$0.2—$0.2$0.2$0.2—
Tax Reconciliation, Federal Statutory Amount$48.3M$48.3M$62.7M$62.7M$62.7M$62.7M
Tax Reconciliation, Foreign Rate Differential——0.0%0.0%0.0%0.0%
Tax Reconciliation, Other Items-$334.8K-$334.8K$0.0$0.0$0.0$0.0
Tax Reconciliation, State and Local Taxes$10.7M$10.7M$0.0$0.0$0.0$0.0
Tax Reconciliation, Tax Credits$8.9M$8.9M————
Tax Reconciliation, Valuation Allowance Change$931.5K$931.5K-$163.8K-$163.8K-$163.8K-$163.8K
Effective Tax Rate$0.2—$0.2$0.2$0.2—
Current State and Local Tax Expense (Benefit)$15.7M$15.7M$11.0M$11.0M$11.0M$11.0M
Deferred Foreign Tax Expense (Benefit)-$917.3K-$917.3K-$886.8K-$886.8K-$886.8K-$886.8K
Effective Tax Rate (Continuing Operations)$0.2—$0.2$0.2$0.2—
Income Taxes Paid, Net$38.2M$157.1M$13.9M———
Current State and Local Tax Expense$15.7M$15.7M$11.0M$11.0M$11.0M$11.0M
Deferred Foreign Tax Expense-$917.3K-$917.3K-$886.8K-$886.8K-$886.8K-$886.8K
Income tax expense$56.5M$49.5M$70.6M$65.1M$76.6M$73.3M
Effective Tax Rate (Continuing Operations)$0.2—$0.2$0.2$0.2—
Tax Reconciliation at Federal Statutory Rate$0.1$0.1$0.1$0.1$0.1$0.1
Unrecognized Tax Benefits Reevaluation (Statute Lapse)$1.1M$1.1M$762.8K$762.8K$762.8K$762.8K
Current Income Tax Expense$79.4M$79.4M$55.1M$55.1M$55.1M$55.1M
Current State and Local Tax Expense (Benefit)$15.7M$15.7M$11.0M$11.0M$11.0M$11.0M
Tax Reconciliation - Federal Statutory Rate$0.1$0.1$0.1$0.1$0.1$0.1
Current Federal Tax Expense$60.9M$60.9M$40.1M$40.1M$40.1M$40.1M
Current Foreign Tax Expense$2.7M$2.7M$4.0M$4.0M$4.0M$4.0M
Current State and Local Tax Expense$15.7M$15.7M$11.0M$11.0M$11.0M$11.0M
Deferred Federal Tax Expense-$22.5M-$22.5M$15.1M$15.1M$15.1M$15.1M
Deferred Foreign Tax Expense-$917.3K-$917.3K-$886.8K-$886.8K-$886.8K-$886.8K
Deferred Income Tax Expense (Benefit)$18.5M-$162.5M-$27.4M———
Deferred State and Local Tax Expense-$4.6M-$4.6M$2.0M$2.0M$2.0M$2.0M
Effective Tax Rate (Continuing Operations)$0.2—$0.2$0.2$0.2—
Income Taxes Paid, Net$38.2M$157.1M$13.9M———
Effective Income Tax Rate$0.2—$0.2$0.2$0.2—
Foreign Rate Differential——$376.3K$376.3K$376.3K$376.3K
Statutory Federal Income Tax Rate$0.1$0.1$0.1$0.1$0.1$0.1
Tax Reconciliation: Other Adjustments——-$110.8K-$110.8K-$110.8K-$110.8K
Tax Reconciliation: Tax Credits$8.9M$8.9M————
Change in Tax Valuation Allowance$931.5K$931.5K-$163.8K-$163.8K-$163.8K-$163.8K
Current State and Local Tax Expense (Benefit)$15.7M$15.7M$11.0M$11.0M$11.0M$11.0M
Deferred Foreign Tax Expense (Benefit)-$917.3K-$917.3K-$886.8K-$886.8K-$886.8K-$886.8K
Effective Tax Rate, Continuing Operations$0.2—$0.2$0.2$0.2—
Current State and Local Tax Expense (Benefit)$15.7M$15.7M$11.0M$11.0M$11.0M$11.0M
Deferred Foreign Tax Expense (Benefit)-$917.3K-$917.3K-$886.8K-$886.8K-$886.8K-$886.8K
Income and Other Taxes$38.2M$157.1M$13.9M———
Current State and Local Tax Expense$15.7M$15.7M$11.0M$11.0M$11.0M$11.0M
Deferred Foreign Tax Expense-$917.3K-$917.3K-$886.8K-$886.8K-$886.8K-$886.8K
Effective Tax Rate Continuing Operations$0.2—$0.2$0.2$0.2—
Tax Reconciliation Federal Statutory Rate$0.1$0.1$0.1$0.1$0.1$0.1
Tax Reconciliation Other Adjustments——$0.0$0.0$0.0$0.0
Tax Reconciliation State and Local Taxes——$0.0$0.0$0.0$0.0

Other

MetricQ3 '25Q4 '25Q1 '26Q2 '26Q3 '26Q4 '26
Foreign Currency Translation Adjustments-$146.0K-$1.9M-$38.0K$390.0K-$372.0K-$766.0K
OCI Foreign Currency Translation Adjustment-$146.0K-$1.9M-$38.0K$390.0K-$372.0K-$766.0K
Change in Accounts Receivable-$108.0M$865.6M-$522.7M———
Change in Deferred Revenue-$285.2M$694.0M-$41.4M———
Change in foreign currency translation-$146.0K-$1.9M-$38.0K$390.0K-$372.0K-$766.0K
Share-Based Payment Tax Withholding Decrease$17.8M$7.1M$20.4M$26.4M$25.2M$21.6M
Tax Withholding for Share-Based Payments$25.1M$8.1M$20.2M———
Foreign Currency Translation Adjustments, Net of Tax-$146.0K-$1.9M-$38.0K$390.0K-$372.0K-$766.0K
OCI - Foreign Currency Translation Adjustment-$146.0K-$1.9M-$38.0K$390.0K-$372.0K-$766.0K
Other Comprehensive Income (Loss), Net of Tax-$884.0K—$17.3M-$10.9M$11.9M—
Reclassifications Net of Tax$185.8M$49.4M$228.2M$200.3M$236.2M$244.2M
OCI Unrealized Holding Gain (Loss) on Securities, Net of Tax-$738.0K—$17.4M-$11.3M$12.3M$0.0
Unrealized Gain (Loss) on Securities-$738.0K—$17.4M-$11.3M$12.3M$0.0
Change in Income Taxes Payable——$82.3M———
Change in Prepaid Expenses and Other Assets—$10.6M$4.5M———
Effect of Exchange Rate on Cash (Continuing Operations)-$494.0K-$2.6M$766.0K———
Net Change in Cash and Restricted Cash——$846.2M———
Number of Operating Segments——1.00———
Operating Lease Payments$2.6M$2.9M$3.4M———
ROU Asset Obtained - Operating Lease$5.2M$11.6M$3.0M———
OCI Attributable to Parent-$884.0K—$17.3M-$10.9M$11.9M—
Number of reportable segments——1.00———
Payments to acquire available-for-sale debt securities$933.3M$195.8M$667.1M———
Income Taxes Paid, Net$38.2M$157.1M$13.9M———
OCI Unrealized Holding Gain (Loss) on Securities, Net of Tax-$738.0K—$17.4M-$11.3M$12.3M$0.0
Share-Based Payment Arrangement, Decrease for Tax Withholding Obligation$17.8M$7.1M$20.4M$26.4M$25.2M$21.6M
Share-based compensation expense related to employee stock plans$119.3M$87.5M$113.0M$122.7M$121.5M$119.3M
Amortization of deferred costs$4.0M$3.4M$4.0M———
Amortization of capitalized software and acquired intangible assets$5.0M$7.0M$4.0M$4.0M$4.0M$2.0M
Stock options excluded as their inclusion would be anti-dilutive (in shares)$10.2M$1.9M$7.1M$7.3M$2.6M—
Comprehensive Income (Loss), Net of Tax, Attributable to Parent$184.9M$33.3M$245.5M$189.4M$248.1M$242.5M
Federal$60.9M$60.9M$40.1M$40.1M$40.1M$40.1M
Foreign$2.7M$2.7M$4.0M$4.0M$4.0M$4.0M
Federal-$22.5M-$22.5M$15.1M$15.1M$15.1M$15.1M
Deferred taxes$18.5M-$162.5M-$27.4M———
Deferred Income Tax Expense Benefit1-$28.1M-$28.1M$16.3M$16.3M$16.3M$16.3M
State-$4.6M-$4.6M$2.0M$2.0M$2.0M$2.0M
Effective tax rates$0.2—$0.2$0.2$0.2—
Income taxes at U.S. statutory rate of 21%$0.1$0.1$0.1$0.1$0.1$0.1
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Percent——-$0.0-$0.0-$0.0-$0.0
Effective Income Tax Rate Reconciliation, Cross-Border, Other, Amount——$202.5K$202.5K$202.5K$202.5K
Other——0.0%0.0%0.0%0.0%
Effective Income Tax Rate Reconciliation, FDII, Amount$7.6M$7.6M$3.3M$3.3M$3.3M$3.3M
Effective Income Tax Rate Reconciliation, FDII, Percent——0.3%0.3%0.3%0.3%
Foreign operations——$0.0$0.0$0.0$0.0
162(m) limited executive compensation——0.3%0.3%0.3%0.3%
162(m) limited executive compensation——$3.6M$3.6M$3.6M$3.6M
Other——$0.0$0.0$0.0$0.0
Share-based compensation——0.7%0.7%0.7%0.7%
Effective Income Tax Rate Reconciliation, Release Of Income Tax Reserves$632.8K$632.8K————
Excess tax benefits associated with employee equity plans (in percent)——-0.4%-0.4%-0.4%-0.4%
State income taxes – net of federal income tax benefit——$0.0$0.0$0.0$0.0
Changes in unrecognized tax benefits——-0.0%-0.0%-0.0%-0.0%
Effective Income Tax Rate Reconciliation, Tax Credit, Other, Percent——0.0%0.0%0.0%0.0%
Excess tax benefits from employee stock plans$7.7M—$2.6M———
Goodwill impairment losses$0.0$0.0$0.0$0.0$0.0$0.0
Impairment Of Long Lived Assets Held For Use$0.0$0.0$0.0$0.0$0.0$0.0
Federal taxes——$39.9M$39.9M$39.9M$39.9M
Foreign——$4.0M$4.0M$4.0M$4.0M
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount$931.5K$931.5K-$163.8K-$163.8K-$163.8K-$163.8K
Effective Income Tax Rate Reconciliation at Federal Statutory Income Tax Rate, Amount$48.3M$48.3M$62.7M$62.7M$62.7M$62.7M
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Other, Amount——$76.5K$76.5K$76.5K$76.5K
Share-based compensation$8.9M$8.9M$8.0M$8.0M$8.0M$8.0M
Effective Income Tax Rate Reconciliation, Other Adjustments, Amount——-$110.8K-$110.8K-$110.8K-$110.8K
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Amount$10.7M$10.7M$10.3M$10.3M$10.3M$10.3M
Changes in unrecognized tax benefits——-$414.3K-$414.3K-$414.3K-$414.3K
Effective Income Tax Rate Reconciliation, Tax Credit, Other, Amount——$159.8K$159.8K$159.8K$159.8K
Effective Income Tax Rate Reconciliation, Tax Credit, Research, Amount——$5.7M$5.7M$5.7M$5.7M
Income Taxes Paid, Net$38.2M$157.1M$13.9M———
Accounts payable-$171.0K-$5.2M$7.7M———
Increase (Decrease) in Accounts Receivable-$108.0M$865.6M-$522.7M———
Increase Decrease In Accrued Income Taxes Payable——$82.3M———
Accrued liabilities-$27.0M—-$8.7M———
Short- and long-term operating lease liabilities-$870.0K-$3.7M-$2.5M———
Increase (decrease) in all other liabilities$1.4M—$1.3M———
Increase (Decrease) in Prepaid Expense and Other Assets—$10.6M$4.5M———
Increase Decrease In Unbilled Accounts Receivable$7.2M—$7.7M———
Cash Provided by (Used in) Financing Activity, Including Discontinued Operation$32.6M—$20.4M———
Cash Provided by (Used in) Investing Activity, Including Discontinued Operation-$495.2M—-$52.1M———
Cash Provided by (Used in) Operating Activity, Including Discontinued Operation$192.8M—$877.2M———
Number of operating segments——$1.0———
Number of reportable segments——$1.0———
Number of reporting units0.250.250.250.250.250.25
Occupancy and Related Charges$3.0M$1.0M$4.0M$4.0M$4.0M$5.0M
Operating Lease Payments$2.6M$2.9M$3.4M———
Operating lease right-of-use assets amortization expense$3.1M$2.1M$3.3M———
Foreign currency translation-$146.0K-$1.9M-$38.0K$390.0K-$372.0K-$766.0K
Other comprehensive income/(loss)-$884.0K—$17.3M-$10.9M$11.9M—
Net unrealized gains (losses) on securities still held-$738.0K—$17.4M-$11.3M$12.3M$0.0
Other Depreciation and Amortization$9.7M$9.7M$9.8M———
Miscellaneous income$152.8K$152.8K$233.5K$233.5K$233.5K$233.5K
Other income, net (Note 6)$60.9M$21.5M$65.1M$69.5M$71.9M$71.7M
All other operating activities$852.0K$1.8M$4.3M———
Payments for Repurchase of Common Stock$0.0$0.0$42.5M$42.5M$42.5M$42.5M
Payments for Software$9.9M$0.0$5.9M———
Payment, Tax Withholding, Share-Based Payment Arrangement$25.1M$8.1M$20.2M———
Payments to Acquire Debt Securities, Available-for-Sale$933.3M$195.8M$667.1M———
Proceeds from sales and redemptions of investments in debt securities classified as available for sale$448.0M$430.7M$620.9M———
Cash received from option exercises$57.7M—$40.6M———
Gross realized gains (losses)-$818.5K-$818.5K$383.8K$383.8K$383.8K$383.8K
Revenue From Contract With Customer Excluding Assessed Tax$699.2M$387.3M$759.0M$789.1M$811.2M$836.0M
Right Of Use Asset Obtained In Exchange For Operating Lease Liability$5.2M$11.6M$3.0M———
Stock-based compensation$120.3M$82.9M$112.2M———
Weighted-average grant date fair value of stock options (in dollars per share)$98.61—$96.83$122.04$126.62—
Granted (in shares)33.5K2.5M2.1M———
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Forfeitures in Period87.3K325.3K86.8K———
Intrinsic value of stock options exercised$7.0M$23.0M$16.0M$64.0M$34.0M$6.0M
Options canceled (in dollars per share)——$212.68———
Granted (in shares)$1.01$10.43$214.08———
Exercised (in shares)——$167.26———
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period312.7K—242.7K———
Stock Issued During Period, Value, Stock Options Exercised$30.3M$40.4M$40.6M$141.7M$57.7M$13.9M
Value of shares repurchased——$45.0M$45.0M$45.0M$45.0M
Average price paid (in dollars per share)——$56.11$56.11$56.11$56.11
Number of shares purchased (in shares)——200.4K200.4K200.4K200.4K
Treasury stock, value, acquired——$45.0M$45.0M$45.0M$45.0M
Additions for tax positions of prior years$500.0$500.0$146.0K$146.0K$146.0K$146.0K
Add: dilutive effect of potential common shares (in shares)$3.0M—$3.5M$4.2M$4.9M—
Currency Translation Adjustment, Net of Tax-$146.0K-$1.9M-$38.0K$390.0K-$372.0K-$766.0K
Other Comprehensive Income (Loss)$184.9M$33.3M$245.5M$189.4M$248.1M$242.5M
OCI Foreign Currency Translation-$146.0K-$1.9M-$38.0K$390.0K-$372.0K-$766.0K
Other Comprehensive Income (Loss), Net of Tax, Attributable to Parent-$884.0K—$17.3M-$10.9M$11.9M—
OCI Net of Tax, Parent-$884.0K—$17.3M-$10.9M$11.9M—
OCI Attributable to Parent-$884.0K—$17.3M-$10.9M$11.9M—
Stock Repurchased During Period, Value——$45.0M$45.0M$45.0M$45.0M

Operating Expenses

MetricQ3 '25Q4 '25Q1 '26Q2 '26Q3 '26Q4 '26
Stock-Based Compensation Expense$120.3M$82.9M$112.2M———
Amortization of Finite-Lived Intangible Assets$5.0M$7.0M$4.0M$4.0M$4.0M$2.0M
Share-Based Compensation Expense$120.3M$82.9M$112.2M———
Amortization expense$5.0M$7.0M$4.0M$4.0M$4.0M$2.0M
Defined Contribution Plan Cost$2.5M$2.5M$4.5M$4.5M$4.5M$4.5M
Compensation and benefits$120.3M$82.9M$112.2M———
General and administrative$72.4M$32.6M$68.8M$95.8M$68.5M$67.6M
Defined Contribution Plan Cost$2.5M$2.5M$4.5M$4.5M$4.5M$4.5M
Goodwill impairment$0.0$0.0$0.0$0.0$0.0$0.0
Defined Contribution Plan Cost$2.5M$2.5M$4.5M$4.5M$4.5M$4.5M
Operating Lease ROU Asset Amortization$3.1M$2.1M$3.3M———
Impairment charges$0.0$0.0$0.0$0.0$0.0$0.0
Stock-based compensation expense$117.9M$82.9M$112.2M$122.0M$120.3M$118.3M
Defined Contribution Plan Expense$2.5M$2.5M$4.5M$4.5M$4.5M$4.5M
Occupancy and equipment$3.0M$1.0M$4.0M$4.0M$4.0M$5.0M
Amortization Of Deferred Charges$4.0M$4.0M$4.0M$4.0M$4.0M$4.0M
Other operating expenses$343.5M$235.2M$351.5M$397.9M$370.9M$376.6M
Research and development$172.4M$124.5M$184.0M$192.7M$191.9M$198.8M
Selling and marketing$98.7M$78.1M$98.6M$109.4M$110.6M$110.2M
Share-Based Compensation$120.3M$82.9M$112.2M———
Amortization of Right-of-Use Assets$3.1M$2.1M$3.3M———
Impairment of Deferred Contract Costs$0.0$0.0$0.0$0.0$0.0$0.0
Total operating expenses$343.5M$235.2M$351.5M$397.9M$370.9M$376.6M

Earnings Per Share

MetricQ3 '25Q4 '25Q1 '26Q2 '26Q3 '26Q4 '26
Weighted Average Diluted Shares Adjustment$3.0M—$3.5M$4.2M$4.9M—
Basic earnings per share$1.15$0.35$1.40$1.23$1.44$1.48
Diluted earnings per share$1.13$0.36$1.37$1.19$1.40$1.48
Weighted Average Diluted Shares Adjustment$3.0M—$3.5M$4.2M$4.9M—
Antidilutive Securities Excluded from EPS10.2M1.9M7.1M7.3M2.6M—
Weighted average number diluted shares outstanding adjustment$3.0M—$3.5M$4.2M$4.9M—
Weighted-average shares, basic162M—162.7M163.5M164M—
Weighted-average shares, diluted165M—166.2M167.7M168.9M—

Revenue

MetricQ3 '25Q4 '25Q1 '26Q2 '26Q3 '26Q4 '26
Revenue Recognized from Contract Liability$492.0M—$518.0M$556.0M$581.0M—
Revenue Recognized from Contract Liabilities$492.0M—$518.0M$556.0M$581.0M—
Gift Card Revenue Recognized$492.0M—$518.0M$556.0M$581.0M—
Revenue Recognized from Contract Liability$492.0M—$518.0M$556.0M$581.0M—
Total revenue$699.2M$387.3M$759.0M$789.1M$811.2M$836.0M

Net Income

MetricQ3 '25Q4 '25Q1 '26Q2 '26Q3 '26Q4 '26
Net income applicable to common shareholders$185.8M$49.4M$228.2M$200.3M$236.2M$244.2M
Net earnings to common$185.8M$49.4M$228.2M$200.3M$236.2M$244.2M
Net Income Available to Common Shareholders$185.8M$49.4M$228.2M$200.3M$236.2M$244.2M
OCI Attributable to Parent-$884.0K—$17.3M-$10.9M$11.9M—
Net income$185.8M$49.4M$228.2M$200.3M$236.2M$244.2M
Net income attributable to common stock$185.8M$49.4M$228.2M$200.3M$236.2M$244.2M

Operating Income

MetricQ3 '25Q4 '25Q1 '26Q2 '26Q3 '26Q4 '26
Gross profit$524.8M$256.2M$585.2M$593.8M$611.8M$622.5M
Operating income$181.4M$20.9M$233.7M$195.9M$240.9M$245.9M

Income Before Tax

MetricQ3 '25Q4 '25Q1 '26Q2 '26Q3 '26Q4 '26
Income before income taxes$242.3M$42.4M$298.8M$265.4M$312.8M$317.5M
Income (Loss) from Continuing Operations Before Income Taxes, Domestic$222.5M$222.5M$285.1M$285.1M$285.1M$285.1M
Income (Loss) from Continuing Operations Before Income Taxes, Foreign$7.3M$7.3M$13.5M$13.5M$13.5M$13.5M
Income Before Tax, Domestic$222.5M$222.5M$285.1M$285.1M$285.1M$285.1M
Income Before Tax, Foreign$7.3M$7.3M$13.5M$13.5M$13.5M$13.5M

Cost of Revenue

MetricQ3 '25Q4 '25Q1 '26Q2 '26Q3 '26Q4 '26
Total cost of revenue$174.4M$131.1M$173.8M$195.3M$199.5M$213.5M