| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $770M | $767M | $800M | 0.4% | -3.8% |
| Op. Income | $49M | $39M | -$24M | 25.6% | 304.2% |
| Gross Margin | 19.0% | 17.7% | 17.3% | 1.2pp | 1.7pp |
| Net Margin | -4.3% | -6.0% | -1.5% | 1.7pp | -2.8pp |
| EPS (Diluted) | $-0.23 | $-0.30 | $-0.09 | 23.3% | -146.0% |
| Free Cash Flow | $24M | -$60M | $52M | 140.0% | -53.8% |
| Item | Amount |
|---|---|
| REVENUE | $770M |
| Cost of Revenue | $624M |
| GROSS PROFIT | $146M |
| R&D Expenses | $1M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $96M |
| Other Expenses | $0 |
| Operating Expenses | $97M |
| Cost & Expenses | $721M |
| OPERATING INCOME | $49M |
| Interest Income | $0 |
| Interest Expense | $12M |
| Other Income/Expenses | -$77M |
| INCOME BEFORE TAX | -$28M |
| Income Tax Expense | $5M |
| Net Income from Continuing Ops | -$33M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$33M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$36M |
| D&A | $50M |
| EBIT | -$16M |
| EBITDA | $34M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$33M |
| Depreciation & Amortization | $51M |
| Stock-Based Compensation | $6M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$3M |
| Change in Working Capital | $18M |
| OPERATING CASH FLOW | $39M |
| Capital Expenditure | -$15M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$7M |
| NET CASH FROM INVESTING | -$22M |
| Net Debt Issuance | -$28M |
| Common Stock Repurchased | -$7M |
| Common Dividends Paid | -$3M |
| Other Financing Activities | -$1M |
| NET CASH FROM FINANCING | -$39M |
| FREE CASH FLOW | $24M |
| Net Change in Cash | -$21M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $233M |
| Short-Term Investments | $0 |
| Net Receivables | $644M |
| Inventory | $0 |
| Other Current Assets | $192M |
| TOTAL CURRENT ASSETS | $1.1B |
| PP&E (Net) | $136M |
| Goodwill | $617M |
| Intangible Assets | $169M |
| Long-Term Investments | $6M |
| Tax Assets | $0 |
| Other Non-Current Assets | $400M |
| TOTAL NON-CURRENT ASSETS | $1.3B |
| TOTAL ASSETS | $2.4B |
| Account Payables | $142M |
| Short-Term Debt | $22M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $292M |
| TOTAL CURRENT LIABILITIES | $681M |
| Long-Term Debt | $665M |
| Deferred Revenue NC | $69M |
| Deferred Tax Liabilities | $19M |
| Other Non-Current Liabilities | $34M |
| TOTAL NON-CURRENT LIABILITIES | $889M |
| TOTAL LIABILITIES | $1.6B |
| Common Stock | $2M |
| Additional Paid-In Capital | $4.0B |
| Retained Earnings | -$2.6B |
| Treasury Stock | -$235M |
| Accum. Other Comp. Income | -$437M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $827M |
| Minority Interest | $0 |
| TOTAL EQUITY | $827M |
| TOTAL LIABILITIES & EQUITY | $2.4B |
| Total Debt | $841M |
| Net Debt | $608M |
