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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 | Q1 FY272026-06-27 | Q4 FY262026-03-28 | Q3 FY262025-12-27 | Q2 FY262025-09-27 | Q1 FY262025-06-28 | Q4 FY252025-03-29 | Q3 FY252024-12-28 | Q2 FY252024-09-28 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.67B | $2.17B | $2.88B | $2.80B | $1.76B | $2.14B | $2.83B | $2.76B |
| Cost of revenue | $752.34M | $944.11M | $1.25B | $1.34B | $811.66M | $1.00B | $1.24B | $1.32B |
| Gross profit | $917.04M | $1.22B | $1.63B | $1.46B | $949.00M | $1.14B | $1.60B | $1.44B |
| Gross margin | 54.9% | 56.4% | 56.6% | 52.2% | 53.9% | 53.3% | 56.3% | 52.2% |
| Selling, general and administrative | $1.00B | $1.16B | $1.31B | $1.15B | $1.04B | $1.18B | $1.32B | $1.17B |
| Operating expenses | $1.00B | $1.16B | $1.34B | $1.15B | $1.04B | $1.22B | $1.37B | $1.17B |
| Operating income | −$83.07M | $61.50M | $289.05M | $312.62M | −$86.61M | −$72.89M | $225.78M | $273.90M |
| Operating margin | -5.0% | 2.8% | 10.1% | 11.2% | -4.9% | -3.4% | 8.0% | 9.9% |
| EBITDA | −$25.29M | $128.99M | $398.65M | $382.42M | −$22.25M | $38.50M | $336.85M | $335.67M |
| Interest income | $5.81M | $6.97M | $5.14M | $3.41M | $2.52M | $10.99M | $6.83M | $3.68M |
| Interest expense | −$30.42M | −$33.77M | −$39.75M | −$49.62M | −$43.64M | −$40.09M | −$43.34M | −$46.37M |
| Income before taxes | −$106.89M | −$163.33M | $362.86M | $268.28M | −$126.59M | −$116.61M | $196.67M | $230.56M |
| Income taxes | −$9.74M | −$44.05M | $62.01M | $78.52M | −$10.19M | $33.66M | $27.56M | $28.05M |
| Net income | −$97.15M | −$119.28M | $300.85M | $189.77M | −$116.41M | −$150.79M | $167.78M | $52.18M |
| Net margin | -5.8% | -5.5% | 10.5% | 6.8% | -6.6% | -7.0% | 5.9% | 1.9% |
| EPS, basic | −$0.25 | −$0.30 | $0.77 | $0.49 | −$0.30 | −$0.39 | $0.43 | $0.13 |
| EPS, diluted | −$0.25 | −$0.30 | $0.76 | $0.48 | −$0.30 | −$0.38 | $0.43 | $0.13 |
| Diluted shares | 392.11M | 402.33M | 397.16M | 393.99M | 390.02M | 396.69M | 393.91M | 390.95M |
Figures describe VF 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.