| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $622M | $590M | $509M | 5.5% | 22.2% |
| Op. Income | $56M | $80M | $34M | -29.7% | 65.4% |
| Gross Margin | 32.2% | 35.8% | 31.4% | -3.6pp | 0.8pp |
| Net Margin | 2.3% | 4.6% | -8.4% | -2.3pp | 10.7pp |
| EPS (Diluted) | $0.06 | $0.13 | $-0.22 | -51.3% | 128.8% |
| Free Cash Flow | $31M | $50M | $27M | -38.2% | 14.7% |
| Item | Amount |
|---|---|
| REVENUE | $622M |
| Cost of Revenue | $422M |
| GROSS PROFIT | $200M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $144M |
| SG&A Expenses | $144M |
| Other Expenses | $418.0K |
| Operating Expenses | $144M |
| Cost & Expenses | $566M |
| OPERATING INCOME | $56M |
| Interest Income | $826.0K |
| Interest Expense | $35M |
| Other Income/Expenses | -$43M |
| INCOME BEFORE TAX | $13M |
| Income Tax Expense | -$647.0K |
| Net Income from Continuing Ops | $14M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $14M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $14M |
| D&A | $7M |
| EBIT | $49M |
| EBITDA | $56M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $622M |
| Cost of Revenue | $422M |
| GROSS PROFIT | $200M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $144M |
| SG&A Expenses | $144M |
| Other Expenses | $418.0K |
| Operating Expenses | $144M |
| Cost & Expenses | $566M |
| OPERATING INCOME | $56M |
| Interest Income | $826.0K |
| Interest Expense | $35M |
| Other Income/Expenses | -$43M |
| INCOME BEFORE TAX | $13M |
| Income Tax Expense | -$647.0K |
| Net Income from Continuing Ops | $14M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $14M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $14M |
| D&A | $7M |
| EBIT | $49M |
| EBITDA | $56M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $14M |
| Depreciation & Amortization | $7M |
| Stock-Based Compensation | $5M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $14M |
| Change in Working Capital | -$7M |
| OPERATING CASH FLOW | $33M |
| Capital Expenditure | -$2M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$2M |
| Net Debt Issuance | $11M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $520.0K |
| NET CASH FROM FINANCING | $14M |
| FREE CASH FLOW | $31M |
| Net Change in Cash | $45M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $146M |
| Short-Term Investments | $0 |
| Net Receivables | $317M |
| Inventory | $0 |
| Other Current Assets | $25M |
| TOTAL CURRENT ASSETS | $503M |
| PP&E (Net) | $55M |
| Goodwill | $1.1B |
| Intangible Assets | $94M |
| Long-Term Investments | $37M |
| Tax Assets | $0 |
| Other Non-Current Assets | $6M |
| TOTAL NON-CURRENT ASSETS | $1.3B |
| TOTAL ASSETS | $1.8B |
| Account Payables | $27M |
| Short-Term Debt | $13M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $244M |
| TOTAL CURRENT LIABILITIES | $410M |
| Long-Term Debt | $1.3B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $7M |
| Other Non-Current Liabilities | $68M |
| TOTAL NON-CURRENT LIABILITIES | $1.4B |
| TOTAL LIABILITIES | $1.8B |
| Common Stock | $2M |
| Additional Paid-In Capital | $1.3B |
| Retained Earnings | -$1.3B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $730.0K |
| TOTAL STOCKHOLDERS' EQUITY | $10M |
| Minority Interest | $0 |
| TOTAL EQUITY | $10M |
| TOTAL LIABILITIES & EQUITY | $1.8B |
| Total Debt | $1.3B |
| Net Debt | $1.2B |
