| Metric | Q1 2026 | Q4 2025 | Q1 2025 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $181M | $224M | $162M | -19.0% | 11.6% |
| Op. Income | -$317M | $834.0K | $210M | -38056.1% | -250.8% |
| Gross Margin | 34.1% | 33.3% | 43.8% | 0.8pp | -9.7pp |
| Net Margin | -209.0% | -0.4% | 152.1% | -208.6pp | -361.1pp |
| EPS (Diluted) | $-1.33 | $-0.00 | $0.83 | -28813.0% | -260.2% |
| Free Cash Flow | -$198M | -$548M | -$177M | 63.9% | -12.0% |
| Item | Amount |
|---|---|
| REVENUE | $181M |
| Cost of Revenue | $119M |
| GROSS PROFIT | $62M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $21M |
| SG&A Expenses | $21M |
| Other Expenses | $357M |
| Operating Expenses | $378M |
| Cost & Expenses | $498M |
| OPERATING INCOME | -$317M |
| Interest Income | $2M |
| Interest Expense | $4M |
| Other Income/Expenses | -$94M |
| INCOME BEFORE TAX | -$410M |
| Income Tax Expense | -$31M |
| Net Income from Continuing Ops | -$379M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$379M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$379M |
| D&A | $106M |
| EBIT | -$406M |
| EBITDA | -$300M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$379M |
| Depreciation & Amortization | $106M |
| Stock-Based Compensation | $12M |
| Deferred Income Tax | -$31M |
| Other Non-Cash Items | $161M |
| Change in Working Capital | -$31M |
| OPERATING CASH FLOW | -$161M |
| Capital Expenditure | -$37M |
| Acquisitions (Net) | -$22M |
| Purchases of Investments | -$872.0K |
| Sales/Maturities of Investments | $189M |
| Other Investing Activities | -$50M |
| NET CASH FROM INVESTING | $80M |
| Net Debt Issuance | $958M |
| Common Stock Repurchased | -$460M |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$2M |
| NET CASH FROM FINANCING | $496M |
| FREE CASH FLOW | -$198M |
| Net Change in Cash | $415M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $458M |
| Short-Term Investments | $830M |
| Net Receivables | $144M |
| Inventory | $0 |
| Other Current Assets | $38M |
| TOTAL CURRENT ASSETS | $1.5B |
| PP&E (Net) | $1.5B |
| Goodwill | $132M |
| Intangible Assets | $5M |
| Long-Term Investments | $172M |
| Tax Assets | $0 |
| Other Non-Current Assets | $55M |
| TOTAL NON-CURRENT ASSETS | $1.9B |
| TOTAL ASSETS | $3.3B |
| Account Payables | $22M |
| Short-Term Debt | $3M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $11M |
| TOTAL CURRENT LIABILITIES | $139M |
| Long-Term Debt | $1.8B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $13M |
| Other Non-Current Liabilities | $4M |
| TOTAL NON-CURRENT LIABILITIES | $1.8B |
| TOTAL LIABILITIES | $1.9B |
| Common Stock | $298.0K |
| Additional Paid-In Capital | $2.5B |
| Retained Earnings | -$505M |
| Treasury Stock | -$608M |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $1.4B |
| Minority Interest | $0 |
| TOTAL EQUITY | $1.4B |
| TOTAL LIABILITIES & EQUITY | $3.3B |
| Total Debt | $1.8B |
| Net Debt | $1.3B |
