| Metric | Q1 2025 | Q4 2024 | Q1 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $982M | $747M | $189M | 31.3% | 420.3% |
| Op. Income | -$27M | $113M | $17M | -124.4% | -263.1% |
| Gross Margin | 73.3% | 75.6% | 68.6% | -2.4pp | 4.7pp |
| Net Margin | -32.1% | -6.9% | -68.5% | -25.2pp | 36.4pp |
| EPS (Diluted) | $-0.78 | $-0.17 | $-0.32 | -358.8% | -143.8% |
| Free Cash Flow | -$1.3B | -$3.3B | $297M | 59.3% | -553.1% |
| Item | Amount |
|---|---|
| REVENUE | $982M |
| Cost of Revenue | $262M |
| GROSS PROFIT | $719M |
| R&D Expenses | $0 |
| Selling & Marketing | $11M |
| General & Administrative | $175M |
| SG&A Expenses | $185M |
| Other Expenses | $561M |
| Operating Expenses | $747M |
| Cost & Expenses | $1.0B |
| OPERATING INCOME | -$27M |
| Interest Income | $0 |
| Interest Expense | $264M |
| Other Income/Expenses | -$241M |
| INCOME BEFORE TAX | -$269M |
| Income Tax Expense | $46M |
| Net Income from Continuing Ops | -$315M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$315M |
| Net Income Deductions | $27M |
| BOTTOM LINE NET INCOME | -$370M |
| D&A | $443M |
| EBIT | -$5M |
| EBITDA | $439M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$315M |
| Depreciation & Amortization | $443M |
| Stock-Based Compensation | $184M |
| Deferred Income Tax | $45M |
| Other Non-Cash Items | $100M |
| Change in Working Capital | -$397M |
| OPERATING CASH FLOW | $61M |
| Capital Expenditure | -$1.4B |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $29M |
| Other Investing Activities | -$55M |
| NET CASH FROM INVESTING | -$1.4B |
| Net Debt Issuance | $514M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$57M |
| NET CASH FROM FINANCING | $1.9B |
| FREE CASH FLOW | -$1.3B |
| Net Change in Cash | $482M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $1.3B |
| Short-Term Investments | $0 |
| Net Receivables | $1.1B |
| Inventory | $0 |
| Other Current Assets | $701M |
| TOTAL CURRENT ASSETS | $3.1B |
| PP&E (Net) | $17.3B |
| Goodwill | $20M |
| Intangible Assets | $4M |
| Long-Term Investments | $102M |
| Tax Assets | $0 |
| Other Non-Current Assets | $1.4B |
| TOTAL NON-CURRENT ASSETS | $18.8B |
| TOTAL ASSETS | $21.9B |
| Account Payables | $1.2B |
| Short-Term Debt | $3.8B |
| Deferred Revenue | $437M |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $7.1B |
| Long-Term Debt | $4.9B |
| Deferred Revenue NC | $3.6B |
| Deferred Tax Liabilities | $194M |
| Other Non-Current Liabilities | $33M |
| TOTAL NON-CURRENT LIABILITIES | $11.7B |
| TOTAL LIABILITIES | $18.8B |
| Common Stock | $1.2B |
| Additional Paid-In Capital | $3.7B |
| Retained Earnings | -$1.8B |
| Treasury Stock | -$34M |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $3.1B |
| Minority Interest | $0 |
| TOTAL EQUITY | $3.1B |
| TOTAL LIABILITIES & EQUITY | $21.9B |
| Total Debt | $11.9B |
| Net Debt | $10.6B |
