“we continue to expect GAAP operating income and net income in each quarter of this year.”

In context

“he end of the quarter, we had $899 million remaining of the original authorization. We ended the quarter with $6 billion in cash, cash equivalents and short-term U.S. Treasury securities. Now turning to our outlook. For Q3 2025, we expect revenue of between $1.083 billion and $1.087 billion and adjusted income from operations of between $493 million and $497 million. For full year 2025, we are raising our revenue guidance to between $4.142 billion and $4.150 billion. We are raising our U.S. commercial revenue guidance to an excess of $1.302 billion, representing a growth rate of at least 85%. We are raising our adjusted income from operations guidance to between $1.912 billion and 1.920 billion. We're raising our adjusted free cash flow guidance to between $1.8 billion and $2 billion, and we continue to expect GAAP operating income and net income in each quarter of this year. With that, I'll turn it over to Alex for a few remarks, and then Ana will kick off the Q&A. Alexander C. Karp: Well, as usual, I've been cautioned to be a little modest about our bombastic numbers, but honestly, there's no authentic way to be anything, but have enormous pride and gratefulness about these extraordinary numbers. Now when you look -- obviously, looking at numbers, there's numbers and what do they mean? So if you take, I would say, the truly once in a generation number of 93% growth in U.S. com off of a large base or even 53% growth in USG, which is astonishing even though, obviously, it shows where the government is downstream from general trends in AI or the 68% growth in the U.S., you still have to say, why are these numbers even more astonishing than they appear. Well, ob”