| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $255M | — | $135M | — | 89.5% |
| Op. Income | $107M | — | $32M | — | 234.3% |
| Gross Margin | 47.4% | — | 31.5% | — | 15.9pp |
| Net Margin | 16.3% | — | -1.5% | — | 17.8pp |
| EPS (Diluted) | $0.21 | — | $-0.01 | — | 1821.3% |
| Free Cash Flow | $38M | — | -$27M | — | 242.2% |
| Item | Amount |
|---|---|
| REVENUE | $255M |
| Cost of Revenue | $134M |
| GROSS PROFIT | $121M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $14M |
| Other Expenses | $0 |
| Operating Expenses | $14M |
| Cost & Expenses | $149M |
| OPERATING INCOME | $107M |
| Interest Income | $2M |
| Interest Expense | $9M |
| Other Income/Expenses | -$31M |
| INCOME BEFORE TAX | $75M |
| Income Tax Expense | $34M |
| Net Income from Continuing Ops | $42M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $42M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $42M |
| D&A | $14M |
| EBIT | $84M |
| EBITDA | $98M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $255M |
| Cost of Revenue | $134M |
| GROSS PROFIT | $121M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $14M |
| Other Expenses | $0 |
| Operating Expenses | $14M |
| Cost & Expenses | $149M |
| OPERATING INCOME | $107M |
| Interest Income | $2M |
| Interest Expense | $9M |
| Other Income/Expenses | -$31M |
| INCOME BEFORE TAX | $75M |
| Income Tax Expense | $34M |
| Net Income from Continuing Ops | $42M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $42M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $42M |
| D&A | $14M |
| EBIT | $84M |
| EBITDA | $98M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $42M |
| Depreciation & Amortization | $14M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | -$6M |
| Other Non-Cash Items | $61M |
| Change in Working Capital | -$11M |
| OPERATING CASH FLOW | $99M |
| Capital Expenditure | -$61M |
| Acquisitions (Net) | $13M |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$48M |
| Net Debt Issuance | -$4M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$277.2K |
| NET CASH FROM FINANCING | $55M |
| FREE CASH FLOW | $38M |
| Net Change in Cash | $107M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $417M |
| Short-Term Investments | $0 |
| Net Receivables | $53M |
| Inventory | $57M |
| Other Current Assets | $7M |
| TOTAL CURRENT ASSETS | $535M |
| PP&E (Net) | $1.8B |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $3M |
| Tax Assets | $0 |
| Other Non-Current Assets | $23M |
| TOTAL NON-CURRENT ASSETS | $1.9B |
| TOTAL ASSETS | $2.4B |
| Account Payables | $86M |
| Short-Term Debt | $55M |
| Deferred Revenue | $6M |
| Other Current Liabilities | $12M |
| TOTAL CURRENT LIABILITIES | $222M |
| Long-Term Debt | $460M |
| Deferred Revenue NC | $198M |
| Deferred Tax Liabilities | $57M |
| Other Non-Current Liabilities | $38M |
| TOTAL NON-CURRENT LIABILITIES | $756M |
| TOTAL LIABILITIES | $977M |
| Common Stock | $1.1B |
| Additional Paid-In Capital | $203M |
| Retained Earnings | -$163M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$49M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $1.1B |
| Minority Interest | $291M |
| TOTAL EQUITY | $1.4B |
| TOTAL LIABILITIES & EQUITY | $2.4B |
| Total Debt | $517M |
| Net Debt | $100M |
