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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 | $934.00M | $711.00M | $1.61B | $1.09B | $1.34B | $447.00M | $1.17B | $911.00M |
| Cost of revenue | $605.00M | $413.00M | $1.12B | $664.00M | $867.00M | $325.00M | $855.00M | $595.00M |
| Gross profit | $329.00M | $298.00M | $494.00M | $421.00M | $474.00M | $122.00M | $312.00M | $316.00M |
| Gross margin | 35.2% | 41.9% | 30.7% | 38.8% | 35.3% | 27.3% | 26.7% | 34.7% |
| Selling, general and administrative | $129.00M | $122.00M | $151.00M | $140.00M | $111.00M | $101.00M | $111.00M | $118.00M |
| Operating expenses | $241.00M | $234.00M | $268.00M | $272.00M | $194.00M | $189.00M | $282.00M | $209.00M |
| Operating income | $88.00M | $64.00M | $226.00M | $149.00M | $280.00M | −$67.00M | $30.00M | $107.00M |
| Operating margin | 9.4% | 9.0% | 14.0% | 13.7% | 20.9% | -15.0% | 2.6% | 11.7% |
| EBITDA | $200.00M | $176.00M | $343.00M | $281.00M | $363.00M | $21.00M | $201.00M | $198.00M |
| Interest expense | −$68.00M | −$68.00M | −$51.00M | −$86.00M | −$49.00M | −$48.00M | −$24.00M | −$62.00M |
| Income before taxes | $33.00M | $58.00M | $506.00M | $23.00M | $459.00M | −$9.00M | −$335.00M | $135.00M |
| Income taxes | $25.00M | $5.00M | $132.00M | $10.00M | $73.00M | −$26.00M | $3.00M | $3.00M |
| Net income | $8.00M | $53.00M | $333.00M | $13.00M | $204.00M | $5.00M | −$357.00M | −$2.87B |
| Net margin | 0.9% | 7.5% | 20.7% | 1.2% | 15.2% | 1.1% | -30.6% | -315.0% |
| EPS, basic | $0.02 | $0.23 | — | $0.26 | $1.18 | $0.02 | — | $0.48 |
| EPS, diluted | $0.02 | $0.03 | — | $0.24 | $1.18 | −$0.01 | — | $0.48 |
| Diluted shares | 252.00M | 261.00M | — | 261.00M | 252.00M | 257.00M | — | 244.00M |
Figures describe Liberty Media shares, not any token. As of Aug 6, 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.