| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $3.5B | $3.6B | — | -3.1% | — |
| Op. Income | -$187M | -$193M | — | 3.0% | — |
| Gross Margin | 2.5% | 2.0% | — | 0.5pp | — |
| Net Margin | -0.2% | -1.5% | — | 1.3pp | — |
| EPS (Diluted) | $-0.01 | $-0.13 | — | 90.1% | — |
| Free Cash Flow | -$393M | -$188M | — | -109.1% | — |
| Item | Amount |
|---|---|
| REVENUE | $3.5B |
| Cost of Revenue | $3.4B |
| GROSS PROFIT | $88M |
| R&D Expenses | $24M |
| Selling & Marketing | $106M |
| General & Administrative | $118M |
| SG&A Expenses | $224M |
| Other Expenses | $26M |
| Operating Expenses | $275M |
| Cost & Expenses | $3.7B |
| OPERATING INCOME | -$187M |
| Interest Income | $7M |
| Interest Expense | $53M |
| Other Income/Expenses | -$335M |
| INCOME BEFORE TAX | -$522M |
| Income Tax Expense | -$487M |
| Net Income from Continuing Ops | -$35M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$5M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$5M |
| D&A | $316M |
| EBIT | -$522M |
| EBITDA | -$206M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$5M |
| Depreciation & Amortization | $200M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$466M |
| Change in Working Capital | $133M |
| OPERATING CASH FLOW | -$138M |
| Capital Expenditure | -$255M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $43M |
| NET CASH FROM INVESTING | -$213M |
| Net Debt Issuance | -$147M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | -$147M |
| FREE CASH FLOW | -$393M |
| Net Change in Cash | -$508M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $1.3B |
| Short-Term Investments | $150M |
| Net Receivables | $627M |
| Inventory | $2.5B |
| Other Current Assets | $625M |
| TOTAL CURRENT ASSETS | $5.3B |
| PP&E (Net) | $8.4B |
| Goodwill | $0 |
| Intangible Assets | $611M |
| Long-Term Investments | $104M |
| Tax Assets | $0 |
| Other Non-Current Assets | $3.2B |
| TOTAL NON-CURRENT ASSETS | $12.3B |
| TOTAL ASSETS | $17.6B |
| Account Payables | $2.8B |
| Short-Term Debt | $415M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $826M |
| TOTAL CURRENT LIABILITIES | $4.5B |
| Long-Term Debt | $11.5B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $1.6B |
| TOTAL NON-CURRENT LIABILITIES | $13.7B |
| TOTAL LIABILITIES | $18.2B |
| Common Stock | $1.6B |
| Additional Paid-In Capital | $0 |
| Retained Earnings | -$2.7B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $412M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | -$712M |
| Minority Interest | $73M |
| TOTAL EQUITY | -$639M |
| TOTAL LIABILITIES & EQUITY | $17.6B |
| Total Debt | $12.7B |
| Net Debt | $11.4B |
