| Metric | Q1 2026 | Q4 2025 | Q1 2025 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $431M | $378M | $475M | 14.0% | -9.3% |
| Op. Income | -$62M | -$102M | -$9M | 39.2% | -580.8% |
| Gross Margin | -9.2% | -21.1% | 4.0% | 11.9pp | -13.2pp |
| Net Margin | -18.8% | -4.7% | 0.9% | -14.0pp | -19.7pp |
| EPS (Diluted) | $-0.75 | $-0.17 | $0.03 | -343.5% | -2327.1% |
| Free Cash Flow | -$99M | -$26M | -$63M | -287.7% | -57.7% |
| Item | Amount |
|---|---|
| REVENUE | $431M |
| Cost of Revenue | $470M |
| GROSS PROFIT | -$40M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $23M |
| SG&A Expenses | $23M |
| Other Expenses | -$219.2K |
| Operating Expenses | $23M |
| Cost & Expenses | $493M |
| OPERATING INCOME | -$62M |
| Interest Income | $1M |
| Interest Expense | $10M |
| Other Income/Expenses | -$46M |
| INCOME BEFORE TAX | -$108M |
| Income Tax Expense | -$27M |
| Net Income from Continuing Ops | -$81M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$81M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$81M |
| D&A | $28M |
| EBIT | -$92M |
| EBITDA | -$64M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$81M |
| Depreciation & Amortization | $28M |
| Stock-Based Compensation | $4M |
| Deferred Income Tax | $365.4K |
| Other Non-Cash Items | $72M |
| Change in Working Capital | -$51M |
| OPERATING CASH FLOW | -$28M |
| Capital Expenditure | -$71M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $11M |
| NET CASH FROM INVESTING | -$60M |
| Net Debt Issuance | $19M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | -$11M |
| Other Financing Activities | -$18M |
| NET CASH FROM FINANCING | -$9M |
| FREE CASH FLOW | -$99M |
| Net Change in Cash | -$105M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $60M |
| Short-Term Investments | $0 |
| Net Receivables | $270M |
| Inventory | $538M |
| Other Current Assets | $4M |
| TOTAL CURRENT ASSETS | $894M |
| PP&E (Net) | $1.2B |
| Goodwill | $0 |
| Intangible Assets | $292.3K |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $11M |
| TOTAL NON-CURRENT ASSETS | $1.3B |
| TOTAL ASSETS | $2.2B |
| Account Payables | $117M |
| Short-Term Debt | $30M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $39M |
| TOTAL CURRENT LIABILITIES | $364M |
| Long-Term Debt | $443M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $76M |
| Other Non-Current Liabilities | $325M |
| TOTAL NON-CURRENT LIABILITIES | $844M |
| TOTAL LIABILITIES | $1.2B |
| Common Stock | $713M |
| Additional Paid-In Capital | -$584.6K |
| Retained Earnings | -$35M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $268M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $945M |
| Minority Interest | $0 |
| TOTAL EQUITY | $945M |
| TOTAL LIABILITIES & EQUITY | $2.2B |
| Total Debt | $474M |
| Net Debt | $413M |
