| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $536M | $571M | $590M | -6.3% | -9.2% |
| Op. Income | $97M | $105M | $15M | -7.3% | 534.3% |
| Gross Margin | 22.1% | 22.1% | 10.9% | -0.1pp | 11.2pp |
| Net Margin | 15.4% | 16.6% | 2.8% | -1.2pp | 12.7pp |
| EPS (Diluted) | $0.64 | $0.74 | $0.13 | -13.5% | 392.3% |
| Free Cash Flow | $99M | $145M | $75M | -31.7% | 31.7% |
| Item | Amount |
|---|---|
| REVENUE | $536M |
| Cost of Revenue | $417M |
| GROSS PROFIT | $118M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $20.8B |
| SG&A Expenses | $20.8B |
| Other Expenses | -$20.8B |
| Operating Expenses | $21M |
| Cost & Expenses | $438M |
| OPERATING INCOME | $97M |
| Interest Income | $632.0K |
| Interest Expense | $11M |
| Other Income/Expenses | -$10M |
| INCOME BEFORE TAX | $87M |
| Income Tax Expense | $3M |
| Net Income from Continuing Ops | $84M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $83M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $83M |
| D&A | $76M |
| EBIT | $98M |
| EBITDA | $174M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| REVENUE | $536M |
| Cost of Revenue | $417M |
| GROSS PROFIT | $118M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $20.8B |
| SG&A Expenses | $20.8B |
| Other Expenses | -$20.8B |
| Operating Expenses | $21M |
| Cost & Expenses | $438M |
| OPERATING INCOME | $97M |
| Interest Income | $632.0K |
| Interest Expense | $11M |
| Other Income/Expenses | -$10M |
| INCOME BEFORE TAX | $87M |
| Income Tax Expense | $3M |
| Net Income from Continuing Ops | $84M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $83M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $83M |
| D&A | $76M |
| EBIT | $98M |
| EBITDA | $174M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $82M |
| Depreciation & Amortization | $76M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$14M |
| Change in Working Capital | $0 |
| OPERATING CASH FLOW | $144M |
| Capital Expenditure | -$45M |
| Acquisitions (Net) | -$10M |
| Purchases of Investments | -$16M |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$5M |
| NET CASH FROM INVESTING | -$80M |
| Net Debt Issuance | -$7M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | -$78M |
| Other Financing Activities | -$2M |
| NET CASH FROM FINANCING | -$87M |
| FREE CASH FLOW | $99M |
| Net Change in Cash | -$23M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $71M |
| Short-Term Investments | $0 |
| Net Receivables | $132M |
| Inventory | $143M |
| Other Current Assets | $74M |
| TOTAL CURRENT ASSETS | $430M |
| PP&E (Net) | $2.2B |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $152M |
| Tax Assets | $0 |
| Other Non-Current Assets | $116M |
| TOTAL NON-CURRENT ASSETS | $2.4B |
| TOTAL ASSETS | $2.9B |
| Account Payables | $82M |
| Short-Term Debt | $24M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $52M |
| TOTAL CURRENT LIABILITIES | $204M |
| Long-Term Debt | $442M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $28M |
| Other Non-Current Liabilities | $305M |
| TOTAL NON-CURRENT LIABILITIES | $789M |
| TOTAL LIABILITIES | $994M |
| Common Stock | $1.8B |
| Additional Paid-In Capital | $0 |
| Retained Earnings | $0 |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$1M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $1.8B |
| Minority Interest | $18M |
| TOTAL EQUITY | $1.9B |
| TOTAL LIABILITIES & EQUITY | $2.9B |
| Total Debt | $480M |
| Net Debt | $409M |
