| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $767M | $754M | $807M | 1.7% | -5.0% |
| Op. Income | $39M | $36M | $35M | 8.3% | 11.4% |
| Gross Margin | 17.7% | 18.2% | 18.7% | -0.4pp | -1.0pp |
| Net Margin | -6.0% | -5.3% | 15.2% | -0.7pp | -21.2pp |
| EPS (Diluted) | $-0.30 | $-0.27 | $0.72 | -11.1% | -141.7% |
| Free Cash Flow | -$60M | -$35M | -$29M | -71.4% | -106.9% |
| Item | Amount |
|---|---|
| REVENUE | $767M |
| Cost of Revenue | $631M |
| GROSS PROFIT | $136M |
| R&D Expenses | $1M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $96M |
| Operating Expenses | $97M |
| Cost & Expenses | $728M |
| OPERATING INCOME | $39M |
| Interest Income | $0 |
| Interest Expense | $12M |
| Other Income/Expenses | -$77M |
| INCOME BEFORE TAX | -$38M |
| Income Tax Expense | $8M |
| Net Income from Continuing Ops | -$46M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$46M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$48M |
| D&A | $48M |
| EBIT | -$26M |
| EBITDA | $22M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$46M |
| Depreciation & Amortization | $48M |
| Stock-Based Compensation | $5M |
| Deferred Income Tax | $4M |
| Other Non-Cash Items | $2M |
| Change in Working Capital | -$52M |
| OPERATING CASH FLOW | -$39M |
| Capital Expenditure | -$21M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$6M |
| NET CASH FROM INVESTING | -$21M |
| Net Debt Issuance | $48M |
| Common Stock Repurchased | -$13M |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$3M |
| NET CASH FROM FINANCING | $30M |
| FREE CASH FLOW | -$60M |
| Net Change in Cash | -$30M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $264M |
| Short-Term Investments | $0 |
| Net Receivables | $679M |
| Inventory | $0 |
| Other Current Assets | $105M |
| TOTAL CURRENT ASSETS | $1.2B |
| PP&E (Net) | $336M |
| Goodwill | $616M |
| Intangible Assets | $168M |
| Long-Term Investments | $9M |
| Tax Assets | $26M |
| Other Non-Current Assets | $191M |
| TOTAL NON-CURRENT ASSETS | $1.3B |
| TOTAL ASSETS | $2.5B |
| Account Payables | $135M |
| Short-Term Debt | $16M |
| Deferred Revenue | $82M |
| Other Current Liabilities | $237M |
| TOTAL CURRENT LIABILITIES | $702M |
| Long-Term Debt | $814M |
| Deferred Revenue NC | $63M |
| Deferred Tax Liabilities | $22M |
| Other Non-Current Liabilities | -$77M |
| TOTAL NON-CURRENT LIABILITIES | $939M |
| TOTAL LIABILITIES | $1.6B |
| Common Stock | $2M |
| Additional Paid-In Capital | $4.0B |
| Retained Earnings | -$2.6B |
| Treasury Stock | -$231M |
| Accum. Other Comp. Income | -$441M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $859M |
| Minority Interest | $0 |
| TOTAL EQUITY | $859M |
| TOTAL LIABILITIES & EQUITY | $2.5B |
| Total Debt | $882M |
| Net Debt | $618M |
