| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $60M | $72M | $42M | -16.7% | 41.4% |
| Op. Income | -$51M | -$38M | $17M | -35.1% | -397.5% |
| Gross Margin | -332.0% | 42.6% | 17.3% | -374.6pp | -349.3pp |
| Net Margin | -1229.6% | -4.6% | 41.5% | -1225.0pp | -1271.1pp |
| EPS (Diluted) | $-1.93 | $-0.01 | $0.05 | -22876.2% | -3660.9% |
| Free Cash Flow | -$366M | -$95M | -$104M | -284.4% | -251.3% |
| Item | Amount |
|---|---|
| REVENUE | $60M |
| Cost of Revenue | $258M |
| GROSS PROFIT | -$198M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $10M |
| SG&A Expenses | $10M |
| Other Expenses | -$158M |
| Operating Expenses | -$147M |
| Cost & Expenses | $111M |
| OPERATING INCOME | -$51M |
| Interest Income | $19M |
| Interest Expense | $30M |
| Other Income/Expenses | -$687M |
| INCOME BEFORE TAX | -$738M |
| Income Tax Expense | -$4M |
| Net Income from Continuing Ops | -$734M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$734M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$734M |
| D&A | $53M |
| EBIT | -$88M |
| EBITDA | -$35M |
| EPS | -$2 |
| EPS Diluted | -$2 |
| Item | Amount |
|---|---|
| Net Income | -$734M |
| Depreciation & Amortization | $52M |
| Stock-Based Compensation | $25M |
| Deferred Income Tax | -$4M |
| Other Non-Cash Items | $559M |
| Change in Working Capital | $47M |
| OPERATING CASH FLOW | -$54M |
| Capital Expenditure | -$311M |
| Acquisitions (Net) | $18M |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | -$150M |
| Other Investing Activities | $152M |
| NET CASH FROM INVESTING | -$205M |
| Net Debt Issuance | -$1.4B |
| Common Stock Repurchased | -$82M |
| Common Dividends Paid | $0 |
| Other Financing Activities | $3.1B |
| NET CASH FROM FINANCING | $1.7B |
| FREE CASH FLOW | -$366M |
| Net Change in Cash | $1.4B |
| Item | Amount |
|---|---|
| Cash & Equivalents | $628M |
| Short-Term Investments | $0 |
| Net Receivables | $687.0K |
| Inventory | $0 |
| Other Current Assets | $2.0B |
| TOTAL CURRENT ASSETS | $2.7B |
| PP&E (Net) | $634M |
| Goodwill | $0 |
| Intangible Assets | $77M |
| Long-Term Investments | $327M |
| Tax Assets | $0 |
| Other Non-Current Assets | $601M |
| TOTAL NON-CURRENT ASSETS | $1.6B |
| TOTAL ASSETS | $4.3B |
| Account Payables | $40M |
| Short-Term Debt | $38M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $615M |
| TOTAL CURRENT LIABILITIES | $699M |
| Long-Term Debt | $2.7B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $34M |
| TOTAL NON-CURRENT LIABILITIES | $2.8B |
| TOTAL LIABILITIES | $3.5B |
| Common Stock | $412.0K |
| Additional Paid-In Capital | $1.8B |
| Retained Earnings | -$1.0B |
| Treasury Stock | -$7.0K |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $806M |
| Minority Interest | $30M |
| TOTAL EQUITY | $836M |
| TOTAL LIABILITIES & EQUITY | $4.3B |
| Total Debt | $2.8B |
| Net Debt | $2.1B |
