| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $648M | $548M | $556M | 18.4% | 16.6% |
| Op. Income | $102M | $45M | $112M | 128.1% | -8.8% |
| Gross Margin | 28.9% | 35.4% | 36.9% | -6.4pp | -8.0pp |
| Net Margin | 9.2% | 3.8% | 12.9% | 5.4pp | -3.7pp |
| EPS (Diluted) | $0.48 | $0.16 | $-1.32 | 200.0% | 136.4% |
| Free Cash Flow | $168M | $39M | $39M | 336.6% | 332.1% |
| Item | Amount |
|---|---|
| REVENUE | $648M |
| Cost of Revenue | $461M |
| GROSS PROFIT | $187M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $81M |
| Other Expenses | $4M |
| Operating Expenses | $85M |
| Cost & Expenses | $546M |
| OPERATING INCOME | $102M |
| Interest Income | $0 |
| Interest Expense | $19M |
| Other Income/Expenses | -$19M |
| INCOME BEFORE TAX | $83M |
| Income Tax Expense | $24M |
| Net Income from Continuing Ops | $60M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $60M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $60M |
| D&A | $5M |
| EBIT | $102M |
| EBITDA | $107M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $648M |
| Cost of Revenue | $461M |
| GROSS PROFIT | $187M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $81M |
| Other Expenses | $4M |
| Operating Expenses | $85M |
| Cost & Expenses | $546M |
| OPERATING INCOME | $102M |
| Interest Income | $0 |
| Interest Expense | $19M |
| Other Income/Expenses | -$19M |
| INCOME BEFORE TAX | $83M |
| Income Tax Expense | $24M |
| Net Income from Continuing Ops | $60M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $60M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $60M |
| D&A | $5M |
| EBIT | $102M |
| EBITDA | $107M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $60M |
| Depreciation & Amortization | $5M |
| Stock-Based Compensation | $5M |
| Deferred Income Tax | $600.0K |
| Other Non-Cash Items | $600.0K |
| Change in Working Capital | $98M |
| OPERATING CASH FLOW | $169M |
| Capital Expenditure | -$1M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$1M |
| Net Debt Issuance | $75M |
| Common Stock Repurchased | -$207M |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$2M |
| NET CASH FROM FINANCING | -$134M |
| FREE CASH FLOW | $168M |
| Net Change in Cash | $34M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $89M |
| Short-Term Investments | $0 |
| Net Receivables | $223M |
| Inventory | $330M |
| Other Current Assets | $23M |
| TOTAL CURRENT ASSETS | $666M |
| PP&E (Net) | $19M |
| Goodwill | $66M |
| Intangible Assets | $125M |
| Long-Term Investments | $0 |
| Tax Assets | $32M |
| Other Non-Current Assets | $33M |
| TOTAL NON-CURRENT ASSETS | $276M |
| TOTAL ASSETS | $941M |
| Account Payables | $120M |
| Short-Term Debt | $3M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $161M |
| TOTAL CURRENT LIABILITIES | $283M |
| Long-Term Debt | $1.1B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $400.0K |
| Other Non-Current Liabilities | $500.0K |
| TOTAL NON-CURRENT LIABILITIES | $1.1B |
| TOTAL LIABILITIES | $1.4B |
| Common Stock | $1M |
| Additional Paid-In Capital | $49M |
| Retained Earnings | $273M |
| Treasury Stock | -$776M |
| Accum. Other Comp. Income | -$1M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | -$454M |
| Minority Interest | $0 |
| TOTAL EQUITY | -$454M |
| TOTAL LIABILITIES & EQUITY | $941M |
| Total Debt | $1.1B |
| Net Debt | $1.0B |
