| Metric | Q3 2026 | Q2 2026 | Q3 2025 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $332M | $383M | $431M | -13.2% | -23.0% |
| Op. Income | -$295M | -$476M | -$91M | 38.1% | -223.4% |
| Gross Margin | -84.6% | -20.5% | -14.8% | -64.1pp | -69.9pp |
| Net Margin | -80.2% | -92.6% | -11.3% | 12.4pp | -68.9pp |
| EPS (Diluted) | $-2.54 | $-3.26 | $-0.45 | 22.2% | -468.9% |
| Free Cash Flow | -$45M | -$140M | -$138M | 67.9% | 67.6% |
| Item | Amount |
|---|---|
| REVENUE | $332M |
| Cost of Revenue | $613M |
| GROSS PROFIT | -$281M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $14M |
| Other Expenses | $0 |
| Operating Expenses | $14M |
| Cost & Expenses | $627M |
| OPERATING INCOME | -$295M |
| Interest Income | $146.0K |
| Interest Expense | $14M |
| Other Income/Expenses | -$49M |
| INCOME BEFORE TAX | -$344M |
| Income Tax Expense | -$78M |
| Net Income from Continuing Ops | -$266M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$266M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$266M |
| D&A | $175M |
| EBIT | -$295M |
| EBITDA | -$120M |
| EPS | -$3 |
| EPS Diluted | -$3 |
| Item | Amount |
|---|---|
| Net Income | -$266M |
| Depreciation & Amortization | $175M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | -$1M |
| Other Non-Cash Items | $45M |
| Change in Working Capital | $28M |
| OPERATING CASH FLOW | -$20M |
| Capital Expenditure | -$25M |
| Acquisitions (Net) | $874.4K |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $142.7K |
| NET CASH FROM INVESTING | -$24M |
| Net Debt Issuance | $112M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | -$140.8K |
| Other Financing Activities | -$17M |
| NET CASH FROM FINANCING | $95M |
| FREE CASH FLOW | -$45M |
| Net Change in Cash | $53M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $57M |
| Short-Term Investments | $0 |
| Net Receivables | $292M |
| Inventory | $416M |
| Other Current Assets | $26M |
| TOTAL CURRENT ASSETS | $790M |
| PP&E (Net) | $752M |
| Goodwill | $0 |
| Intangible Assets | $219.1K |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $2M |
| TOTAL NON-CURRENT ASSETS | $755M |
| TOTAL ASSETS | $1.5B |
| Account Payables | $35M |
| Short-Term Debt | $136M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $148M |
| TOTAL CURRENT LIABILITIES | $363M |
| Long-Term Debt | $532M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $290M |
| TOTAL NON-CURRENT LIABILITIES | $823M |
| TOTAL LIABILITIES | $1.2B |
| Common Stock | $712M |
| Additional Paid-In Capital | -$657.2K |
| Retained Earnings | -$656M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $303M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $359M |
| Minority Interest | $0 |
| TOTAL EQUITY | $359M |
| TOTAL LIABILITIES & EQUITY | $1.5B |
| Total Debt | $670M |
| Net Debt | $613M |
