| Metric | Q1 2026 | Q4 2025 | Q1 2025 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $537M | $648M | $533M | -17.1% | 0.8% |
| Op. Income | $80M | $102M | $115M | -21.4% | -30.4% |
| Gross Margin | 29.5% | 28.9% | 37.5% | 0.6pp | -8.0pp |
| Net Margin | 8.1% | 9.2% | 14.4% | -1.1pp | -6.3pp |
| EPS (Diluted) | $0.36 | $0.48 | $0.59 | -25.0% | -39.0% |
| Free Cash Flow | -$7M | $168M | $2M | -104.3% | -529.4% |
| Item | Amount |
|---|---|
| REVENUE | $537M |
| Cost of Revenue | $379M |
| GROSS PROFIT | $158M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $78M |
| Other Expenses | $0 |
| Operating Expenses | $78M |
| Cost & Expenses | $457M |
| OPERATING INCOME | $80M |
| Interest Income | $0 |
| Interest Expense | $20M |
| Other Income/Expenses | -$22M |
| INCOME BEFORE TAX | $59M |
| Income Tax Expense | $15M |
| Net Income from Continuing Ops | $44M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $44M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $44M |
| D&A | $5M |
| EBIT | $79M |
| EBITDA | $83M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $537M |
| Cost of Revenue | $379M |
| GROSS PROFIT | $158M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $78M |
| Other Expenses | $0 |
| Operating Expenses | $78M |
| Cost & Expenses | $457M |
| OPERATING INCOME | $80M |
| Interest Income | $0 |
| Interest Expense | $20M |
| Other Income/Expenses | -$22M |
| INCOME BEFORE TAX | $59M |
| Income Tax Expense | $15M |
| Net Income from Continuing Ops | $44M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $44M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $44M |
| D&A | $5M |
| EBIT | $79M |
| EBITDA | $83M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $44M |
| Depreciation & Amortization | $5M |
| Stock-Based Compensation | $5M |
| Deferred Income Tax | $5M |
| Other Non-Cash Items | $0 |
| Change in Working Capital | -$62M |
| OPERATING CASH FLOW | -$3M |
| Capital Expenditure | -$4M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$4M |
| Net Debt Issuance | $100M |
| Common Stock Repurchased | -$97M |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$8M |
| NET CASH FROM FINANCING | -$5M |
| FREE CASH FLOW | -$7M |
| Net Change in Cash | -$12M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $64M |
| Short-Term Investments | $0 |
| Net Receivables | $246M |
| Inventory | $435M |
| Other Current Assets | $41M |
| TOTAL CURRENT ASSETS | $786M |
| PP&E (Net) | $27M |
| Goodwill | $66M |
| Intangible Assets | $121M |
| Long-Term Investments | $0 |
| Tax Assets | $28M |
| Other Non-Current Assets | $33M |
| TOTAL NON-CURRENT ASSETS | $274M |
| TOTAL ASSETS | $1.1B |
| Account Payables | $179M |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $173M |
| TOTAL CURRENT LIABILITIES | $352M |
| Long-Term Debt | $1.2B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $400.0K |
| Other Non-Current Liabilities | $34M |
| TOTAL NON-CURRENT LIABILITIES | $1.2B |
| TOTAL LIABILITIES | $1.6B |
| Common Stock | $1M |
| Additional Paid-In Capital | $46M |
| Retained Earnings | $316M |
| Treasury Stock | -$873M |
| Accum. Other Comp. Income | -$1M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | -$511M |
| Minority Interest | $0 |
| TOTAL EQUITY | -$511M |
| TOTAL LIABILITIES & EQUITY | $1.1B |
| Total Debt | $1.2B |
| Net Debt | $1.1B |
