| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $3.0B | $3.5B | — | -15.0% | — |
| Op. Income | $23M | -$187M | — | 112.2% | — |
| Gross Margin | -4.0% | 2.5% | — | -6.5pp | — |
| Net Margin | -71.0% | -0.2% | — | -70.8pp | — |
| EPS (Diluted) | $-5.27 | $-0.01 | — | -40053.4% | — |
| Free Cash Flow | -$299M | -$393M | — | 23.9% | — |
| Item | Amount |
|---|---|
| REVENUE | $3.0B |
| Cost of Revenue | $3.1B |
| GROSS PROFIT | -$117M |
| R&D Expenses | $21M |
| Selling & Marketing | $102M |
| General & Administrative | $135M |
| SG&A Expenses | $237M |
| Other Expenses | $60M |
| Operating Expenses | $318M |
| Cost & Expenses | $3.4B |
| OPERATING INCOME | $23M |
| Interest Income | $38M |
| Interest Expense | $536M |
| Other Income/Expenses | -$132M |
| INCOME BEFORE TAX | -$109M |
| Income Tax Expense | $2.1B |
| Net Income from Continuing Ops | -$2.2B |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$2.1B |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$2.1B |
| D&A | $237M |
| EBIT | -$439M |
| EBITDA | -$202M |
| EPS | -$5 |
| EPS Diluted | -$5 |
| Item | Amount |
|---|---|
| Net Income | -$2.1B |
| Depreciation & Amortization | $237M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $1.8B |
| Change in Working Capital | -$158M |
| OPERATING CASH FLOW | -$182M |
| Capital Expenditure | -$117M |
| Acquisitions (Net) | $34.7K |
| Purchases of Investments | -$16M |
| Sales/Maturities of Investments | $244.6K |
| Other Investing Activities | $196.3K |
| NET CASH FROM INVESTING | -$133M |
| Net Debt Issuance | $1.1B |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$40M |
| NET CASH FROM FINANCING | $1.0B |
| FREE CASH FLOW | -$299M |
| Net Change in Cash | $734M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $2.1B |
| Short-Term Investments | $269M |
| Net Receivables | $1.6B |
| Inventory | $2.1B |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $6.1B |
| PP&E (Net) | $8.3B |
| Goodwill | $391M |
| Intangible Assets | $226M |
| Long-Term Investments | $200M |
| Tax Assets | $314M |
| Other Non-Current Assets | $877M |
| TOTAL NON-CURRENT ASSETS | $10.4B |
| TOTAL ASSETS | $16.5B |
| Account Payables | $2.7B |
| Short-Term Debt | $4.4B |
| Deferred Revenue | $0 |
| Other Current Liabilities | $1.1B |
| TOTAL CURRENT LIABILITIES | $8.1B |
| Long-Term Debt | $9.3B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $296M |
| Other Non-Current Liabilities | $1.4B |
| TOTAL NON-CURRENT LIABILITIES | $11.7B |
| TOTAL LIABILITIES | $19.8B |
| Common Stock | $1.6B |
| Additional Paid-In Capital | $0 |
| Retained Earnings | -$4.9B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $40M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | -$3.3B |
| Minority Interest | -$71M |
| TOTAL EQUITY | -$3.3B |
| TOTAL LIABILITIES & EQUITY | $16.5B |
| Total Debt | $14.4B |
| Net Debt | $12.2B |
