| Metric | Q1 2025 | Q4 2024 | Q1 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $751M | $800M | $921M | -6.1% | -18.5% |
| Op. Income | $3M | -$24M | $68M | 112.5% | -95.6% |
| Gross Margin | 17.7% | 17.3% | 20.2% | 0.5pp | -2.5pp |
| Net Margin | -6.8% | -1.5% | 10.7% | -5.3pp | -17.5pp |
| EPS (Diluted) | $-0.33 | $-0.09 | $0.46 | -252.9% | -171.7% |
| Free Cash Flow | -$76M | $52M | -$58M | -246.2% | -31.0% |
| Item | Amount |
|---|---|
| REVENUE | $751M |
| Cost of Revenue | $618M |
| GROSS PROFIT | $133M |
| R&D Expenses | $1M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $129M |
| Operating Expenses | $130M |
| Cost & Expenses | $748M |
| OPERATING INCOME | $3M |
| Interest Income | $0 |
| Interest Expense | $12M |
| Other Income/Expenses | -$59M |
| INCOME BEFORE TAX | -$56M |
| Income Tax Expense | -$5M |
| Net Income from Continuing Ops | -$51M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$51M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$53M |
| D&A | $48M |
| EBIT | -$44M |
| EBITDA | $4M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$51M |
| Depreciation & Amortization | $48M |
| Stock-Based Compensation | $3M |
| Deferred Income Tax | -$8M |
| Other Non-Cash Items | $0 |
| Change in Working Capital | -$50M |
| OPERATING CASH FLOW | -$58M |
| Capital Expenditure | -$18M |
| Acquisitions (Net) | $1M |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$4M |
| NET CASH FROM INVESTING | -$17M |
| Net Debt Issuance | -$8M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | -$10M |
| FREE CASH FLOW | -$76M |
| Net Change in Cash | -$84M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $277M |
| Short-Term Investments | $0 |
| Net Receivables | $683M |
| Inventory | $0 |
| Other Current Assets | $128M |
| TOTAL CURRENT ASSETS | $1.2B |
| PP&E (Net) | $343M |
| Goodwill | $610M |
| Intangible Assets | $182M |
| Long-Term Investments | $0 |
| Tax Assets | $24M |
| Other Non-Current Assets | $188M |
| TOTAL NON-CURRENT ASSETS | $1.3B |
| TOTAL ASSETS | $2.5B |
| Account Payables | $155M |
| Short-Term Debt | $26M |
| Deferred Revenue | $83M |
| Other Current Liabilities | $238M |
| TOTAL CURRENT LIABILITIES | $723M |
| Long-Term Debt | $625M |
| Deferred Revenue NC | $48M |
| Deferred Tax Liabilities | $16M |
| Other Non-Current Liabilities | $182M |
| TOTAL NON-CURRENT LIABILITIES | $1.0B |
| TOTAL LIABILITIES | $1.7B |
| Common Stock | $2M |
| Additional Paid-In Capital | $4.0B |
| Retained Earnings | -$2.5B |
| Treasury Stock | -$210M |
| Accum. Other Comp. Income | -$461M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $800M |
| Minority Interest | $4M |
| TOTAL EQUITY | $804M |
| TOTAL LIABILITIES & EQUITY | $2.5B |
| Total Debt | $836M |
| Net Debt | $559M |
