| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $452M | $541M | $335M | -16.4% | 35.1% |
| Op. Income | $112M | $347M | $156M | -67.8% | -28.1% |
| Gross Margin | 35.9% | 73.7% | 56.5% | -37.8pp | -20.5pp |
| Net Margin | 44.7% | 80.0% | 19.6% | -35.3pp | 25.1pp |
| EPS (Diluted) | $1.21 | $2.53 | $0.37 | -52.2% | 227.0% |
| Free Cash Flow | $158M | $169M | $55M | -6.3% | 185.5% |
| Item | Amount |
|---|---|
| REVENUE | $452M |
| Cost of Revenue | $290M |
| GROSS PROFIT | $162M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $31M |
| SG&A Expenses | $31M |
| Other Expenses | $20M |
| Operating Expenses | $51M |
| Cost & Expenses | $341M |
| OPERATING INCOME | $112M |
| Interest Income | $0 |
| Interest Expense | $43M |
| Other Income/Expenses | $154M |
| INCOME BEFORE TAX | $266M |
| Income Tax Expense | $64M |
| Net Income from Continuing Ops | $202M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $202M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $202M |
| D&A | $149M |
| EBIT | $309M |
| EBITDA | $458M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| REVENUE | $452M |
| Cost of Revenue | $290M |
| GROSS PROFIT | $162M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $31M |
| SG&A Expenses | $31M |
| Other Expenses | $20M |
| Operating Expenses | $51M |
| Cost & Expenses | $341M |
| OPERATING INCOME | $112M |
| Interest Income | $0 |
| Interest Expense | $43M |
| Other Income/Expenses | $154M |
| INCOME BEFORE TAX | $266M |
| Income Tax Expense | $64M |
| Net Income from Continuing Ops | $202M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $202M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $202M |
| D&A | $149M |
| EBIT | $309M |
| EBITDA | $458M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $202M |
| Depreciation & Amortization | $149M |
| Stock-Based Compensation | $5M |
| Deferred Income Tax | $75M |
| Other Non-Cash Items | -$185M |
| Change in Working Capital | -$13M |
| OPERATING CASH FLOW | $234M |
| Capital Expenditure | -$76M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $68M |
| NET CASH FROM INVESTING | -$8M |
| Net Debt Issuance | -$42M |
| Common Stock Repurchased | -$196M |
| Common Dividends Paid | $0 |
| Other Financing Activities | $13M |
| NET CASH FROM FINANCING | -$225M |
| FREE CASH FLOW | $158M |
| Net Change in Cash | $1M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $5M |
| Short-Term Investments | $0 |
| Net Receivables | $198M |
| Inventory | $31M |
| Other Current Assets | $110M |
| TOTAL CURRENT ASSETS | $361M |
| PP&E (Net) | $8.0B |
| Goodwill | $323M |
| Intangible Assets | $59M |
| Long-Term Investments | $121M |
| Tax Assets | $0 |
| Other Non-Current Assets | $87M |
| TOTAL NON-CURRENT ASSETS | $8.5B |
| TOTAL ASSETS | $8.9B |
| Account Payables | $111M |
| Short-Term Debt | $352M |
| Deferred Revenue | $9M |
| Other Current Liabilities | $341M |
| TOTAL CURRENT LIABILITIES | $1.1B |
| Long-Term Debt | $2.2B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $836M |
| Other Non-Current Liabilities | $491M |
| TOTAL NON-CURRENT LIABILITIES | $3.7B |
| TOTAL LIABILITIES | $4.8B |
| Common Stock | $1M |
| Additional Paid-In Capital | $2.3B |
| Retained Earnings | $1.9B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$6M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $4.1B |
| Minority Interest | $0 |
| TOTAL EQUITY | $4.1B |
| TOTAL LIABILITIES & EQUITY | $8.9B |
| Total Debt | $2.8B |
| Net Debt | $2.8B |
