โ
๐ ๐๐๐ฌ๐ฎ๐ฅ๐ญ๐ฌ
โข GAAP EPS: $0.36 (Normalized Est. $0.46, not directly comparable).
โข Revenue: $3.742B (Est. $3.74B) ๐ฐ, +32% YoY.
โข GAAP Net Income: $462M (vs. $264M YoY).
โข Operating Income: $568M, +66% YoY.
โข Gross Profit: $1.781B, +28% YoY.
โข Free Cash Flow: $816M, +61% YoY.
โข Free Cash Flow Margin: 22%, +400 bps YoY.
โ
๐ฏ ๐๐ฎ๐ข๐๐๐ง๐๐
โข Q4 Revenue Growth: Low-30% YoY.
โข Q4 Gross Profit Growth: High-20% YoY.
โข Q4 Operating Expenses: 29%โ30% of revenue.
โข Q4 Stock-Based Compensation: ~$155M.
โข Q4 Free Cash Flow Margin: Consistent with Q4 2025.
โ
๐ ๐๐๐ฒ ๐๐๐ค๐๐๐ฐ๐๐ฒ๐ฌ
โข Q3 revenue was essentially in line with consensus, with 32% growth in both reported and constant currency terms.
โข Gross Merchandise Volume surged 29% YoY to $119.15B.
โข Monthly Recurring Revenue increased 19% YoY to $230M.
โข Operating income grew 66%, significantly outpacing revenue growth of 32%.
โข Free cash flow increased from $507M to $816M, with margin expanding from 18% to 22%.
โข GAAP net income increased 75% YoY to $462M.
โข Repurchased $562M in common shares during Q3.
โข Q4 guidance points to continued revenue growth above 30% YoY.
โ
๐ฌ ๐๐๐ง๐๐ ๐๐ฆ๐๐ง๐ญ ๐๐จ๐ฆ๐ฆ๐๐ง๐ญ๐๐ซ๐ฒ
โWe extended our track record of consistent execution, with 32% revenue growth and a 22% free cash flow margin.โ