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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 | $4.02B | $2.82B | $4.22B | $4.37B | $4.02B | $3.40B | $3.84B | $4.61B |
| Cost of revenue | $1.92B | $1.91B | $2.11B | $2.04B | $2.06B | $2.00B | $2.03B | $2.03B |
| Gross profit | $2.10B | $916.40M | $2.11B | $2.33B | $1.96B | $1.40B | $1.81B | $2.58B |
| Gross margin | 52.1% | 32.5% | 49.9% | 53.4% | 48.7% | 41.1% | 47.2% | 55.9% |
| Operating expenses | $3.63B | $3.10B | $3.42B | $3.36B | $3.50B | $3.12B | $3.25B | $3.24B |
| Operating income | $392.82M | −$273.33M | $795.15M | $1.01B | $527.12M | $282.52M | $595.47M | $1.37B |
| Operating margin | 9.8% | -9.7% | 18.8% | 23.1% | 13.1% | 8.3% | 15.5% | 29.7% |
| EBITDA | $392.82M | −$273.33M | $1.04B | $1.01B | $527.12M | $282.52M | $814.31M | $1.37B |
| Interest expense | −$52.39M | −$50.89M | $155.89M | −$50.68M | −$53.08M | −$52.14M | $151.51M | −$53.36M |
| Income before taxes | $1.52B | −$269.94M | $734.16M | $978.44M | $862.36M | $157.75M | $723.52M | $1.21B |
| Income taxes | $332.87M | −$65.58M | $152.07M | $214.66M | $185.17M | $28.40M | $162.08M | $259.41M |
| Net income | $1.19B | −$204.36M | $582.09M | $763.79M | $677.19M | $129.35M | $561.43M | $946.94M |
| Net margin | 29.5% | -7.2% | 13.8% | 17.5% | 16.8% | 3.8% | 14.6% | 20.5% |
| EPS, basic | $93.08 | −$18.90 | $48.99 | $59.44 | $49.80 | $12.11 | $38.84 | $66.40 |
| EPS, diluted | $92.76 | −$18.90 | $48.79 | $59.25 | $49.67 | $12.08 | $38.80 | $66.25 |
| Diluted shares | 12.59M | 12.63M | 12.42M | 12.60M | 12.73M | 12.84M | 12.91M | 13.02M |
Figures describe Markel shares, not any token. As of Jul 29, 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.