| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $249M | $260M | $271M | -3.9% | -8.1% |
| Op. Income | -$20M | -$18M | $31M | -11.4% | -164.7% |
| Gross Margin | 4.9% | 6.3% | 18.4% | -1.4pp | -13.5pp |
| Net Margin | -8.9% | -9.1% | 5.3% | 0.2pp | -14.2pp |
| EPS (Diluted) | $-0.18 | $-0.19 | $0.13 | 5.3% | -238.5% |
| Free Cash Flow | -$18M | -$1M | -$6M | -1231.9% | -224.5% |
| Item | Amount |
|---|---|
| REVENUE | $249M |
| Cost of Revenue | $237M |
| GROSS PROFIT | $12M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $32M |
| Other Expenses | $0 |
| Operating Expenses | $32M |
| Cost & Expenses | $269M |
| OPERATING INCOME | -$20M |
| Interest Income | $0 |
| Interest Expense | $16M |
| Other Income/Expenses | -$11M |
| INCOME BEFORE TAX | -$31M |
| Income Tax Expense | -$9M |
| Net Income from Continuing Ops | -$22M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$22M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$22M |
| D&A | $50M |
| EBIT | -$15M |
| EBITDA | $35M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$22M |
| Depreciation & Amortization | $5M |
| Stock-Based Compensation | $9M |
| Deferred Income Tax | -$7M |
| Other Non-Cash Items | $18M |
| Change in Working Capital | $0 |
| OPERATING CASH FLOW | $4M |
| Capital Expenditure | -$22M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $2M |
| NET CASH FROM INVESTING | -$20M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $15M |
| NET CASH FROM FINANCING | $15M |
| FREE CASH FLOW | -$18M |
| Net Change in Cash | -$717.0K |
| Item | Amount |
|---|---|
| Cash & Equivalents | $41M |
| Short-Term Investments | $0 |
| Net Receivables | $181M |
| Inventory | $86M |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $308M |
| PP&E (Net) | $1.6B |
| Goodwill | $153M |
| Intangible Assets | $182M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $1M |
| TOTAL NON-CURRENT ASSETS | $1.9B |
| TOTAL ASSETS | $2.2B |
| Account Payables | $69M |
| Short-Term Debt | $41M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $101M |
| TOTAL CURRENT LIABILITIES | $211M |
| Long-Term Debt | $538M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $222M |
| Other Non-Current Liabilities | $49M |
| TOTAL NON-CURRENT LIABILITIES | $808M |
| TOTAL LIABILITIES | $1.0B |
| Common Stock | $1M |
| Additional Paid-In Capital | $0 |
| Retained Earnings | $0 |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $1.2B |
| TOTAL STOCKHOLDERS' EQUITY | $1.2B |
| Minority Interest | $0 |
| TOTAL EQUITY | $1.2B |
| TOTAL LIABILITIES & EQUITY | $2.2B |
| Total Debt | $579M |
| Net Debt | $538M |
