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Where the tokens are
Standardised from the company’s filings, newest period first, labelled with the company’s own fiscal calendar. A line the company does not report is left off rather than shown as zero; margins and free cash flow are worked out here, and only where every input is present.
| Line item | Q2 FY262026-06-30 | Q1 FY262026-03-31 | Q4 FY252025-12-31 | Q3 FY252025-09-30 | Q2 FY252025-06-30 | Q1 FY252025-03-31 | Q4 FY242024-12-31 | Q3 FY242024-09-30 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $12.09B | $9.79B | $9.46B | $9.97B | $10.10B | $10.43B | $10.41B | $10.88B |
| Cost of revenue | $9.93B | $9.15B | $8.91B | $9.24B | $9.52B | $9.76B | $9.47B | $9.81B |
| Gross profit | $2.17B | $640.00M | $548.00M | $731.00M | $583.00M | $671.00M | $935.00M | $1.07B |
| Gross margin | 17.9% | 6.5% | 5.8% | 7.3% | 5.8% | 6.4% | 9.0% | 9.8% |
| Research and development | $207.00M | $181.00M | $173.00M | $191.00M | $188.00M | $200.00M | $202.00M | $208.00M |
| Selling, general and administrative | $535.00M | $417.00M | $339.00M | $340.00M | $347.00M | $366.00M | $353.00M | $396.00M |
| Operating expenses | $1.29B | $671.00M | $1.59B | $600.00M | $1.19B | $850.00M | $665.00M | $704.00M |
| Operating income | $882.00M | −$31.00M | −$1.04B | $131.00M | −$606.00M | −$179.00M | $270.00M | $366.00M |
| Operating margin | 7.3% | -0.3% | -11.0% | 1.3% | -6.0% | -1.7% | 2.6% | 3.4% |
| EBITDA | $2.05B | $715.00M | $698.00M | $842.00M | $709.00M | $743.00M | $1.06B | $1.13B |
| Interest income | $38.00M | $42.00M | $38.00M | $47.00M | $39.00M | $28.00M | $57.00M | $36.00M |
| Interest expense | −$210.00M | −$219.00M | −$219.00M | −$221.00M | −$209.00M | −$216.00M | −$216.00M | −$199.00M |
| Income before taxes | $871.00M | −$390.00M | −$1.55B | $70.00M | −$659.00M | −$374.00M | $219.00M | $324.00M |
| Income taxes | $69.00M | $55.00M | −$71.00M | −$54.00M | $142.00M | −$84.00M | $254.00M | $84.00M |
| Net income | $802.00M | −$445.00M | −$1.48B | $124.00M | −$801.00M | −$290.00M | −$35.00M | $240.00M |
| Net margin | 6.6% | -4.5% | -15.6% | 1.2% | -7.9% | -2.8% | -0.3% | 2.2% |
| EPS, basic | $0.99 | −$0.74 | −$2.16 | $0.08 | −$1.18 | −$0.44 | −$0.09 | $0.30 |
| EPS, diluted | $0.99 | −$0.74 | −$2.17 | $0.08 | −$1.18 | −$0.44 | −$0.09 | $0.30 |
| Diluted shares | 725.10M | 721.20M | 716.80M | 713.20M | 709.50M | 706.90M | 706.00M | 703.60M |
Figures describe Dow shares, not any token. As of Jul 24, 2026, from Massive's standardised financials. The company reports these figures; a token's issuer holds the shares and reports nothing of its own here.