| Metric | Q1 2026 | Q4 2025 | Q1 2025 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $3.2B | $3.9B | $3.4B | -17.5% | -5.2% |
| Op. Income | $138M | $135M | $132M | 2.2% | 4.5% |
| Gross Margin | 10.1% | 10.6% | 10.6% | -0.6pp | -0.5pp |
| Net Margin | 1.4% | 1.0% | 0.4% | 0.3pp | 1.0pp |
| EPS (Diluted) | $0.18 | $0.16 | $0.05 | 12.5% | 260.0% |
| Free Cash Flow | -$142M | $261M | $102M | -154.4% | -239.2% |
| Item | Amount |
|---|---|
| REVENUE | $3.2B |
| Cost of Revenue | $2.9B |
| GROSS PROFIT | $326M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $115M |
| Other Expenses | $73M |
| Operating Expenses | $188M |
| Cost & Expenses | $3.1B |
| OPERATING INCOME | $138M |
| Interest Income | $0 |
| Interest Expense | $74M |
| Other Income/Expenses | -$74M |
| INCOME BEFORE TAX | $64M |
| Income Tax Expense | $20M |
| Net Income from Continuing Ops | $44M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $44M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $44M |
| D&A | $106M |
| EBIT | $138M |
| EBITDA | $244M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $3.2B |
| Cost of Revenue | $2.9B |
| GROSS PROFIT | $326M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $115M |
| Other Expenses | $73M |
| Operating Expenses | $188M |
| Cost & Expenses | $3.1B |
| OPERATING INCOME | $138M |
| Interest Income | $0 |
| Interest Expense | $74M |
| Other Income/Expenses | -$74M |
| INCOME BEFORE TAX | $64M |
| Income Tax Expense | $20M |
| Net Income from Continuing Ops | $44M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $44M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $44M |
| D&A | $106M |
| EBIT | $138M |
| EBITDA | $244M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $44M |
| Depreciation & Amortization | $106M |
| Stock-Based Compensation | $7M |
| Deferred Income Tax | -$3M |
| Other Non-Cash Items | $6M |
| Change in Working Capital | -$296M |
| OPERATING CASH FLOW | -$136M |
| Capital Expenditure | -$6M |
| Acquisitions (Net) | -$27M |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$33M |
| Net Debt Issuance | -$9M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$11M |
| NET CASH FROM FINANCING | -$20M |
| FREE CASH FLOW | -$142M |
| Net Change in Cash | -$190M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $247M |
| Short-Term Investments | $0 |
| Net Receivables | $2.5B |
| Inventory | $0 |
| Other Current Assets | $187M |
| TOTAL CURRENT ASSETS | $3.0B |
| PP&E (Net) | $108M |
| Goodwill | $5.7B |
| Intangible Assets | $1.9B |
| Long-Term Investments | $218M |
| Tax Assets | $0 |
| Other Non-Current Assets | $348M |
| TOTAL NON-CURRENT ASSETS | $8.2B |
| TOTAL ASSETS | $11.2B |
| Account Payables | $871M |
| Short-Term Debt | $41M |
| Deferred Revenue | $203M |
| Other Current Liabilities | $973M |
| TOTAL CURRENT LIABILITIES | $2.1B |
| Long-Term Debt | $3.9B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $257M |
| Other Non-Current Liabilities | $297M |
| TOTAL NON-CURRENT LIABILITIES | $4.4B |
| TOTAL LIABILITIES | $6.5B |
| Common Stock | $2M |
| Additional Paid-In Capital | $4.9B |
| Retained Earnings | -$417M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $40M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $4.6B |
| Minority Interest | $106M |
| TOTAL EQUITY | $4.7B |
| TOTAL LIABILITIES & EQUITY | $11.2B |
| Total Debt | $3.9B |
| Net Debt | $3.7B |
