| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $322M | $248M | $172M | 29.8% | 87.5% |
| Op. Income | $185M | $134M | $67M | 37.8% | 174.9% |
| Gross Margin | 62.3% | 58.2% | 47.3% | 4.1pp | 15.0pp |
| Net Margin | -6.2% | 2.3% | 9.7% | -8.4pp | -15.9pp |
| EPS (Diluted) | $-0.24 | $0.07 | $0.23 | -452.9% | -204.3% |
| Free Cash Flow | $27M | $54M | -$813.0K | -50.3% | 3399.1% |
| Item | Amount |
|---|---|
| REVENUE | $322M |
| Cost of Revenue | $121M |
| GROSS PROFIT | $200M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $19M |
| Other Expenses | -$3M |
| Operating Expenses | $16M |
| Cost & Expenses | $137M |
| OPERATING INCOME | $185M |
| Interest Income | $4M |
| Interest Expense | $13M |
| Other Income/Expenses | -$143M |
| INCOME BEFORE TAX | $42M |
| Income Tax Expense | $62M |
| Net Income from Continuing Ops | -$20M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$20M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$20M |
| D&A | $28M |
| EBIT | $55M |
| EBITDA | $83M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$20M |
| Depreciation & Amortization | $26M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $55M |
| Change in Working Capital | $10M |
| OPERATING CASH FLOW | $71M |
| Capital Expenditure | -$44M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$55M |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$100M |
| Net Debt Issuance | -$8M |
| Common Stock Repurchased | $866.7K |
| Common Dividends Paid | -$39M |
| Other Financing Activities | $7M |
| NET CASH FROM FINANCING | -$42M |
| FREE CASH FLOW | $27M |
| Net Change in Cash | $136M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $286M |
| Short-Term Investments | $0 |
| Net Receivables | $103M |
| Inventory | $116M |
| Other Current Assets | $7M |
| TOTAL CURRENT ASSETS | $512M |
| PP&E (Net) | $945M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $35M |
| Other Non-Current Assets | $116M |
| TOTAL NON-CURRENT ASSETS | $1.1B |
| TOTAL ASSETS | $1.6B |
| Account Payables | $190M |
| Short-Term Debt | $100M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $170M |
| TOTAL CURRENT LIABILITIES | $526M |
| Long-Term Debt | $312M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $37M |
| Other Non-Current Liabilities | $468M |
| TOTAL NON-CURRENT LIABILITIES | $817M |
| TOTAL LIABILITIES | $1.3B |
| Common Stock | $834M |
| Additional Paid-In Capital | $58M |
| Retained Earnings | -$626M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$178.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $266M |
| Minority Interest | $0 |
| TOTAL EQUITY | $266M |
| TOTAL LIABILITIES & EQUITY | $1.6B |
| Total Debt | $411M |
| Net Debt | $125M |
