| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $1.0B | $1.1B | $950M | -3.7% | 9.4% |
| Op. Income | -$63M | $323M | $23M | -119.6% | -378.4% |
| Gross Margin | -0.3% | 34.7% | 8.8% | -35.0pp | -9.1pp |
| Net Margin | -3.6% | 29.1% | -4.3% | -32.7pp | 0.7pp |
| EPS (Diluted) | $-0.43 | $3.61 | $-0.47 | -111.9% | 8.5% |
| Free Cash Flow | $104M | $92M | -$28M | 12.8% | 465.5% |
| Item | Amount |
|---|---|
| REVENUE | $1.0B |
| Cost of Revenue | $1.0B |
| GROSS PROFIT | -$3M |
| R&D Expenses | $0 |
| Selling & Marketing | $13M |
| General & Administrative | $39M |
| SG&A Expenses | $52M |
| Other Expenses | $9M |
| Operating Expenses | $60M |
| Cost & Expenses | $1.1B |
| OPERATING INCOME | -$63M |
| Interest Income | $0 |
| Interest Expense | $51M |
| Other Income/Expenses | -$26M |
| INCOME BEFORE TAX | -$89M |
| Income Tax Expense | -$52M |
| Net Income from Continuing Ops | -$37M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$37M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$37M |
| D&A | $45M |
| EBIT | -$38M |
| EBITDA | $6M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$37M |
| Depreciation & Amortization | $149M |
| Stock-Based Compensation | -$5M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$42M |
| Change in Working Capital | $51M |
| OPERATING CASH FLOW | $117M |
| Capital Expenditure | -$13M |
| Acquisitions (Net) | $95M |
| Purchases of Investments | -$500.0K |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$94M |
| NET CASH FROM INVESTING | -$12M |
| Net Debt Issuance | -$96M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $22M |
| NET CASH FROM FINANCING | -$74M |
| FREE CASH FLOW | $104M |
| Net Change in Cash | $31M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $125M |
| Short-Term Investments | $0 |
| Net Receivables | $0 |
| Inventory | $385M |
| Other Current Assets | $348M |
| TOTAL CURRENT ASSETS | $858M |
| PP&E (Net) | $1.6B |
| Goodwill | $141M |
| Intangible Assets | $9M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $105M |
| TOTAL NON-CURRENT ASSETS | $1.8B |
| TOTAL ASSETS | $2.7B |
| Account Payables | $282M |
| Short-Term Debt | $220M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $339M |
| TOTAL CURRENT LIABILITIES | $841M |
| Long-Term Debt | $161M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $2.2B |
| TOTAL NON-CURRENT LIABILITIES | $2.3B |
| TOTAL LIABILITIES | $3.2B |
| Common Stock | $900.0K |
| Additional Paid-In Capital | $0 |
| Retained Earnings | -$1.6B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$7M |
| Other Equity | $847M |
| TOTAL STOCKHOLDERS' EQUITY | -$733M |
| Minority Interest | $246M |
| TOTAL EQUITY | -$487M |
| TOTAL LIABILITIES & EQUITY | $2.7B |
| Total Debt | $382M |
| Net Debt | $257M |
