Also trades as: 0HCH.L (LSE) · $vol 0M

$40.86

-2.54 (-5.85%)

After Hours: $41.40 (+0.54, +1.32%)

Weekly Expected Move ±5.0%

$39 $41 $43 $45 $47

NYSE · Real Estate · REIT - Office · Tech Score Strong Sell · Power 38 · $7.1B mcap · 155M float · 1.28% daily turnover · Short 50% of daily vol

Credit Risk of going bust: not rated, financial company (lending is its business) Bonds: $347.0M held by 294 funds, 97 bp over Treasuries → details ▾

Not rated: lending and leverage are a financial company's business, which the model misreads.
Bond figures are fund-reported marks (SEC N-PORT) as of Jul 2026. How these are computed.

Revenue Segmentation

By Product / Service

By Geography

Revenue by Segment (5-Year Trend)

Income Trends

Revenue

$3.0B -2.6% ▼

5Y CAGR: +9.4%

Gross Profit

$2.0B -4.3% ▼

5Y CAGR: +8.5%

Operating Income

-$1.2B -256.2% ▼

Net Income

-$1.4B -543.0% ▼

EPS (Diluted)

$-8.44 -568.9% ▼

EBITDA

$360M -81.0% ▼

5Y CAGR: -21.0%

Profit Margins

Year-over-Year Growth

View Full Income Statement

Line Item	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	$2.1B	$2.6B	$2.8B	$3.0B	$3.0B
YoY Growth	+12.1%	+22.5%	+9.8%	+7.3%	-2.6%
Cost of Revenue	$624M	$783M	$859M	$909M	$923M
Gross Profit	$1.5B	$1.8B	$2.0B	$2.1B	$2.0B
Gross Margin	70.4%	69.6%	69.8%	70.2%	68.9%
R&D Expenses	$0	$0	$0	$0	$0
SG&A Expenses	$151M	$177M	$199M	$168M	$117M
Operating Expenses	$973M	$1.2B	$1.3B	$1.4B	$3.3B
Operating Income	$512M	$613M	$690M	$770M	-$1.2B
Operating Margin	24.3%	23.8%	24.3%	25.2%	-40.5%
Interest Expense	$142M	$94M	$74M	$186M	$227M
Income Before Tax	$654M	$671M	$281M	$511M	-$1.2B
Tax Expense	$0	$0	$0	$0	$0
Net Income	$571M	$522M	$104M	$323M	-$1.4B
Net Margin	27.1%	20.3%	3.6%	10.6%	-48.2%
EPS (Diluted)	$2.83	$3.18	$0.54	$1.80	$-8.44
EBITDA	$1.6B	$1.8B	$1.4B	$1.9B	$360M
Shares Outstanding	147M	162M	171M	172M	170M

Line Item	FY2024 Q4	FY2025 Q1	FY2025 Q2	FY2025 Q3	FY2025 Q4	FY2026 Q1	FY2026 Q2	FY2026 Q3
Revenue	$763M	$743M	$737M	$736M	$754M	$671M	$796M	$671M
Cost of Revenue	$240M	$226M	$224M	$239M	$233M	$224M	$207M	$228M
Gross Profit	$523M	$517M	$513M	$497M	$522M	$447M	$589M	$443M
Gross Margin	68.5%	69.5%	69.6%	67.5%	69.2%	66.6%	74.0%	66.0%
R&D Expenses	$0	$0	$0	$0	$0	$0	$0	$0
SG&A Expenses	$33M	$31M	$29M	$29M	$28M	$35M	$37M	$41M
Operating Expenses	$363M	$373M	$375M	$369M	$2.1B	$340M	$564M	$983M
Operating Income	$160M	$144M	$138M	$127M	-$1.6B	$107M	$25M	-$540M
Operating Margin	21.0%	19.4%	18.7%	17.3%	-213.6%	15.9%	3.1%	-80.5%
Interest Expense	$56M	$51M	$55M	$55M	$66M	$65M	$64M	$80M
Income Before Tax	-$16M	$39M	-$62M	-$198M	-$995M	$171M	$55M	-$599M
Tax Expense	$0	$0	$0	$0	$0	$0	$9M	$0
Net Income	-$62M	-$9M	-$107M	-$233M	-$1.1B	$398M	$12M	-$638M
Net Margin	-8.2%	-1.2%	-14.5%	-31.6%	-143.4%	59.4%	1.5%	-95.0%
EPS (Diluted)	$-0.38	$-0.07	$-0.64	$-1.38	$-6.35	$2.10	$0.07	$-3.74
EBITDA	$370M	$432M	$339M	$197M	-$608M	$477M	$359M	-$215M
Shares Outstanding	172M	171M	170M	170M	170M	188M	188M	171M

ARE NYSE