| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $368M | $934M | $924M | -60.7% | -60.2% |
| Op. Income | -$54M | $28M | -$1.5B | -291.2% | 96.3% |
| Gross Margin | 37.1% | 64.7% | 64.2% | -27.6pp | -27.1pp |
| Net Margin | -18.0% | -1.6% | -163.6% | -16.4pp | 145.7pp |
| EPS (Diluted) | $-0.36 | $-0.08 | $-8.23 | -350.0% | 95.6% |
| Free Cash Flow | $242M | $162M | -$25M | 49.2% | 1062.9% |
| Item | Amount |
|---|---|
| REVENUE | $368M |
| Cost of Revenue | $231M |
| GROSS PROFIT | $136M |
| R&D Expenses | $18M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $172M |
| Other Expenses | $0 |
| Operating Expenses | $190M |
| Cost & Expenses | $422M |
| OPERATING INCOME | -$54M |
| Interest Income | $0 |
| Interest Expense | $16M |
| Other Income/Expenses | -$6M |
| INCOME BEFORE TAX | -$60M |
| Income Tax Expense | $6M |
| Net Income from Continuing Ops | -$66M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$66M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$66M |
| D&A | $10M |
| EBIT | -$54M |
| EBITDA | -$44M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$66M |
| Depreciation & Amortization | $0 |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $14M |
| Other Non-Cash Items | $36M |
| Change in Working Capital | $79M |
| OPERATING CASH FLOW | $63M |
| Capital Expenditure | $179M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$231M |
| NET CASH FROM INVESTING | -$52M |
| Net Debt Issuance | -$67M |
| Common Stock Repurchased | -$300.0K |
| Common Dividends Paid | $0 |
| Other Financing Activities | $94M |
| NET CASH FROM FINANCING | $27M |
| FREE CASH FLOW | $242M |
| Net Change in Cash | $38M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $903M |
| Short-Term Investments | $0 |
| Net Receivables | $162M |
| Inventory | $625M |
| Other Current Assets | $4.2B |
| TOTAL CURRENT ASSETS | $5.9B |
| PP&E (Net) | $334M |
| Goodwill | $620M |
| Intangible Assets | $222M |
| Long-Term Investments | $48M |
| Tax Assets | $109M |
| Other Non-Current Assets | $18M |
| TOTAL NON-CURRENT ASSETS | $1.4B |
| TOTAL ASSETS | $7.3B |
| Account Payables | $296M |
| Short-Term Debt | $833M |
| Deferred Revenue | $22M |
| Other Current Liabilities | $3.1B |
| TOTAL CURRENT LIABILITIES | $4.4B |
| Long-Term Debt | $651M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $2M |
| Other Non-Current Liabilities | $7M |
| TOTAL NON-CURRENT LIABILITIES | $850M |
| TOTAL LIABILITIES | $5.2B |
| Common Stock | $2M |
| Additional Paid-In Capital | $3.0B |
| Retained Earnings | -$910M |
| Treasury Stock | -$33M |
| Accum. Other Comp. Income | -$28M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $2.1B |
| Minority Interest | $0 |
| TOTAL EQUITY | $2.1B |
| TOTAL LIABILITIES & EQUITY | $7.3B |
| Total Debt | $1.7B |
| Net Debt | $771M |
