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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 | $1.92B | $1.85B | $2.03B | $1.96B | $1.58B | $1.46B | $1.61B | $1.53B |
| Cost of revenue | $1.23B | $1.30B | $1.45B | $1.52B | $1.13B | $1.03B | $1.11B | $1.03B |
| Gross profit | $688.00M | $549.00M | $579.00M | $445.00M | $451.00M | $426.00M | $502.00M | $495.00M |
| Gross margin | 35.8% | 29.7% | 28.6% | 22.7% | 28.6% | 29.2% | 31.1% | 32.4% |
| Research and development | $67.00M | $64.00M | $71.00M | $74.00M | $43.00M | $42.00M | $47.00M | $45.00M |
| Selling, general and administrative | $432.00M | $430.00M | $431.00M | $477.00M | $368.00M | $378.00M | $377.00M | $370.00M |
| Operating expenses | $552.00M | $569.00M | $537.00M | $640.00M | $431.00M | $429.00M | $421.00M | $1.54B |
| Operating income | $136.00M | −$20.00M | $42.00M | −$195.00M | $20.00M | −$3.00M | $81.00M | −$1.04B |
| Operating margin | 7.1% | -1.1% | 2.1% | -9.9% | 1.3% | -0.2% | 5.0% | -68.3% |
| EBITDA | $260.00M | $125.00M | $147.00M | −$29.00M | $87.00M | $56.00M | $183.00M | $129.00M |
| Interest expense | −$100.00M | −$84.00M | $0 | — | −$55.00M | −$33.00M | $0 | — |
| Income before taxes | $31.00M | −$73.00M | −$61.00M | −$300.00M | −$60.00M | −$67.00M | −$4.00M | −$1.09B |
| Income taxes | $18.00M | $32.00M | $12.00M | $460.00M | $46.00M | $23.00M | $17.00M | $118.00M |
| Net income | $13.00M | −$105.00M | −$73.00M | −$760.00M | −$106.00M | −$90.00M | −$21.00M | −$1.21B |
| Net margin | 0.7% | -5.7% | -3.6% | -38.8% | -6.7% | -6.2% | -1.3% | -78.9% |
| EPS, basic | $0.07 | −$0.84 | −$0.59 | −$4.01 | −$0.87 | −$0.75 | −$0.19 | −$6.47 |
| EPS, diluted | $0.07 | −$0.84 | −$0.59 | −$4.01 | −$0.87 | −$0.75 | −$0.20 | −$6.47 |
| Diluted shares | 134.79M | 128.99M | 127.99M | 190.38M | 125.79M | 125.19M | 123.02M | 186.52M |
Figures describe Xerox 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.