| Metric | Q1 2026 | Q4 2025 | Q1 2025 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $797M | $868M | $845M | -8.2% | -5.7% |
| Op. Income | -$33M | $4M | $7M | -924.5% | -563.8% |
| Gross Margin | 31.0% | 33.0% | 33.0% | -2.0pp | -2.0pp |
| Net Margin | -3.1% | 0.8% | 0.6% | -3.9pp | -3.7pp |
| EPS (Diluted) | $-1.10 | $0.30 | $0.22 | -466.7% | -600.0% |
| Free Cash Flow | -$89M | $57M | -$43M | -256.7% | -105.1% |
| Item | Amount |
|---|---|
| REVENUE | $797M |
| Cost of Revenue | $550M |
| GROSS PROFIT | $247M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $48M |
| SG&A Expenses | $48M |
| Other Expenses | $232M |
| Operating Expenses | $280M |
| Cost & Expenses | $830M |
| OPERATING INCOME | -$33M |
| Interest Income | $0 |
| Interest Expense | $4M |
| Other Income/Expenses | -$4M |
| INCOME BEFORE TAX | -$37M |
| Income Tax Expense | -$12M |
| Net Income from Continuing Ops | -$25M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$25M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$25M |
| D&A | $33M |
| EBIT | -$33M |
| EBITDA | $589.0K |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$25M |
| Depreciation & Amortization | $33M |
| Stock-Based Compensation | -$921.0K |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $18M |
| Change in Working Capital | -$79M |
| OPERATING CASH FLOW | -$53M |
| Capital Expenditure | -$35M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $1M |
| NET CASH FROM INVESTING | -$34M |
| Net Debt Issuance | $65M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | -$6M |
| Other Financing Activities | -$2M |
| NET CASH FROM FINANCING | $57M |
| FREE CASH FLOW | -$89M |
| Net Change in Cash | -$31M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $9M |
| Short-Term Investments | $0 |
| Net Receivables | $40M |
| Inventory | $209M |
| Other Current Assets | $48M |
| TOTAL CURRENT ASSETS | $306M |
| PP&E (Net) | $3.3B |
| Goodwill | $0 |
| Intangible Assets | $24M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | -$1.5B |
| TOTAL NON-CURRENT ASSETS | $1.8B |
| TOTAL ASSETS | $2.2B |
| Account Payables | $157M |
| Short-Term Debt | $149M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $287M |
| TOTAL CURRENT LIABILITIES | $594M |
| Long-Term Debt | $401M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $96M |
| TOTAL NON-CURRENT LIABILITIES | $1.1B |
| TOTAL LIABILITIES | $1.7B |
| Common Stock | $223.0K |
| Additional Paid-In Capital | $8M |
| Retained Earnings | $421M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $429M |
| Minority Interest | $0 |
| TOTAL EQUITY | $429M |
| TOTAL LIABILITIES & EQUITY | $2.2B |
| Total Debt | $1.2B |
| Net Debt | $1.2B |
