| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $454M | $608M | $388M | -25.4% | 16.8% |
| Op. Income | $50M | $99M | $38M | -50.0% | 29.9% |
| Gross Margin | 37.2% | 39.3% | 35.9% | -2.1pp | 1.3pp |
| Net Margin | 8.3% | 12.3% | 7.6% | -4.1pp | 0.7pp |
| EPS (Diluted) | $1.22 | $2.43 | $0.96 | -49.8% | 27.1% |
| Free Cash Flow | -$83M | $114M | -$32M | -172.8% | -160.7% |
| Item | Amount |
|---|---|
| REVENUE | $454M |
| Cost of Revenue | $285M |
| GROSS PROFIT | $169M |
| R&D Expenses | $0 |
| Selling & Marketing | $51M |
| General & Administrative | $68M |
| SG&A Expenses | $119M |
| Other Expenses | $0 |
| Operating Expenses | $119M |
| Cost & Expenses | $404M |
| OPERATING INCOME | $50M |
| Interest Income | $0 |
| Interest Expense | $346.0K |
| Other Income/Expenses | $261.0K |
| INCOME BEFORE TAX | $50M |
| Income Tax Expense | $12M |
| Net Income from Continuing Ops | $38M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $38M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $38M |
| D&A | $17M |
| EBIT | $50M |
| EBITDA | $67M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| REVENUE | $454M |
| Cost of Revenue | $285M |
| GROSS PROFIT | $169M |
| R&D Expenses | $0 |
| Selling & Marketing | $51M |
| General & Administrative | $68M |
| SG&A Expenses | $119M |
| Other Expenses | $0 |
| Operating Expenses | $119M |
| Cost & Expenses | $404M |
| OPERATING INCOME | $50M |
| Interest Income | $0 |
| Interest Expense | $346.0K |
| Other Income/Expenses | $261.0K |
| INCOME BEFORE TAX | $50M |
| Income Tax Expense | $12M |
| Net Income from Continuing Ops | $38M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $38M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $38M |
| D&A | $17M |
| EBIT | $50M |
| EBITDA | $67M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $38M |
| Depreciation & Amortization | $17M |
| Stock-Based Compensation | $3M |
| Deferred Income Tax | $2M |
| Other Non-Cash Items | $18M |
| Change in Working Capital | -$120M |
| OPERATING CASH FLOW | -$43M |
| Capital Expenditure | -$40M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$40M |
| Net Debt Issuance | -$227.0K |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | -$65.0K |
| FREE CASH FLOW | -$83M |
| Net Change in Cash | -$83M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $70M |
| Short-Term Investments | $0 |
| Net Receivables | $19M |
| Inventory | $747M |
| Other Current Assets | $11M |
| TOTAL CURRENT ASSETS | $864M |
| PP&E (Net) | $892M |
| Goodwill | $198M |
| Intangible Assets | $59M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $6M |
| TOTAL NON-CURRENT ASSETS | $1.2B |
| TOTAL ASSETS | $2.0B |
| Account Payables | $134M |
| Short-Term Debt | $0 |
| Deferred Revenue | $31M |
| Other Current Liabilities | $47M |
| TOTAL CURRENT LIABILITIES | $353M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $39M |
| Other Non-Current Liabilities | $4M |
| TOTAL NON-CURRENT LIABILITIES | $534M |
| TOTAL LIABILITIES | $887M |
| Common Stock | $3.0K |
| Additional Paid-In Capital | $247M |
| Retained Earnings | $904M |
| Treasury Stock | -$20M |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $1.1B |
| Minority Interest | $0 |
| TOTAL EQUITY | $1.1B |
| TOTAL LIABILITIES & EQUITY | $2.0B |
| Total Debt | $563M |
| Net Debt | $493M |
