| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $259M | $277M | $263M | -6.4% | -1.4% |
| Op. Income | $67M | $98M | $101M | -31.5% | -33.4% |
| Gross Margin | 31.4% | 40.1% | 86.4% | -8.6pp | -55.0pp |
| Net Margin | -0.4% | 11.1% | 10.0% | -11.5pp | -10.4pp |
| EPS (Diluted) | $-0.00 | $0.10 | $0.09 | -103.4% | -103.7% |
| Free Cash Flow | -$19M | $40M | -$205M | -148.1% | 90.7% |
| Item | Amount |
|---|---|
| REVENUE | $259M |
| Cost of Revenue | $178M |
| GROSS PROFIT | $82M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $14M |
| Other Expenses | $0 |
| Operating Expenses | $14M |
| Cost & Expenses | $192M |
| OPERATING INCOME | $67M |
| Interest Income | $2M |
| Interest Expense | $57M |
| Other Income/Expenses | -$56M |
| INCOME BEFORE TAX | $11M |
| Income Tax Expense | $12M |
| Net Income from Continuing Ops | -$1M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$1M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$1M |
| D&A | $38M |
| EBIT | $68M |
| EBITDA | $106M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$1M |
| Depreciation & Amortization | $38M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $2M |
| Other Non-Cash Items | $7M |
| Change in Working Capital | -$12M |
| OPERATING CASH FLOW | $34M |
| Capital Expenditure | -$53M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$53M |
| Net Debt Issuance | $92M |
| Common Stock Repurchased | $1.8K |
| Common Dividends Paid | $43.4K |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $174M |
| FREE CASH FLOW | -$19M |
| Net Change in Cash | $152M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $381M |
| Short-Term Investments | $0 |
| Net Receivables | $327M |
| Inventory | $0 |
| Other Current Assets | $23M |
| TOTAL CURRENT ASSETS | $739M |
| PP&E (Net) | $2.7B |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $12M |
| Tax Assets | $0 |
| Other Non-Current Assets | $130M |
| TOTAL NON-CURRENT ASSETS | $2.9B |
| TOTAL ASSETS | $3.6B |
| Account Payables | $34M |
| Short-Term Debt | $129M |
| Deferred Revenue | $24M |
| Other Current Liabilities | $163M |
| TOTAL CURRENT LIABILITIES | $351M |
| Long-Term Debt | $2.0B |
| Deferred Revenue NC | $30M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $2M |
| TOTAL NON-CURRENT LIABILITIES | $2.1B |
| TOTAL LIABILITIES | $2.4B |
| Common Stock | $32M |
| Additional Paid-In Capital | $2.4B |
| Retained Earnings | -$1.2B |
| Treasury Stock | -$18M |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $1.2B |
| Minority Interest | $0 |
| TOTAL EQUITY | $1.2B |
| TOTAL LIABILITIES & EQUITY | $3.6B |
| Total Debt | $2.2B |
| Net Debt | $1.8B |
