| Metric | Q1 2026 | Q4 2025 | Q1 2025 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $3.3B | $3.6B | $3.1B | -9.1% | 5.2% |
| Op. Income | -$279M | $75M | -$197M | -472.0% | -41.6% |
| Gross Margin | 100.0% | 94.3% | 16.3% | 5.7pp | 83.7pp |
| Net Margin | -5.8% | 0.6% | -5.3% | -6.4pp | -0.6pp |
| EPS (Diluted) | $-1.69 | $0.18 | $-1.35 | -1038.9% | -25.2% |
| Free Cash Flow | $83M | -$440M | $221M | 118.9% | -62.4% |
| Item | Amount |
|---|---|
| REVENUE | $3.3B |
| Cost of Revenue | $0 |
| GROSS PROFIT | $3.3B |
| R&D Expenses | $0 |
| Selling & Marketing | $99M |
| General & Administrative | $0 |
| SG&A Expenses | $99M |
| Other Expenses | $3.5B |
| Operating Expenses | $3.6B |
| Cost & Expenses | $3.6B |
| OPERATING INCOME | -$279M |
| Interest Income | $19M |
| Interest Expense | $76M |
| Other Income/Expenses | -$38M |
| INCOME BEFORE TAX | -$317M |
| Income Tax Expense | -$124M |
| Net Income from Continuing Ops | -$193M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$193M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$193M |
| D&A | $204M |
| EBIT | -$298M |
| EBITDA | -$94M |
| EPS | -$2 |
| EPS Diluted | -$2 |
| Item | Amount |
|---|---|
| Net Income | -$193M |
| Depreciation & Amortization | $204M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $25M |
| Change in Working Capital | $385M |
| OPERATING CASH FLOW | $421M |
| Capital Expenditure | -$338M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $169M |
| NET CASH FROM INVESTING | -$169M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$428M |
| NET CASH FROM FINANCING | -$428M |
| FREE CASH FLOW | $83M |
| Net Change in Cash | -$176M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $451M |
| Short-Term Investments | $1.3B |
| Net Receivables | $630M |
| Inventory | $232M |
| Other Current Assets | $106M |
| TOTAL CURRENT ASSETS | $3.0B |
| PP&E (Net) | $12.0B |
| Goodwill | $2.7B |
| Intangible Assets | $801M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $1.7B |
| TOTAL NON-CURRENT ASSETS | $17.3B |
| TOTAL ASSETS | $20.3B |
| Account Payables | $409M |
| Short-Term Debt | $498M |
| Deferred Revenue | $4.2B |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $7.1B |
| Long-Term Debt | $4.8B |
| Deferred Revenue NC | $1.7B |
| Deferred Tax Liabilities | $879M |
| Other Non-Current Liabilities | $974M |
| TOTAL NON-CURRENT LIABILITIES | $9.5B |
| TOTAL LIABILITIES | $16.6B |
| Common Stock | $1M |
| Additional Paid-In Capital | $973M |
| Retained Earnings | $4.8B |
| Treasury Stock | -$1.9B |
| Accum. Other Comp. Income | -$176M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $3.7B |
| Minority Interest | $0 |
| TOTAL EQUITY | $3.7B |
| TOTAL LIABILITIES & EQUITY | $20.3B |
| Total Debt | $6.7B |
| Net Debt | $6.2B |
