| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $1.4B | $1.2B | $584M | 12.5% | 133.7% |
| Op. Income | $52M | $19M | $117M | 169.9% | -55.7% |
| Gross Margin | 73.0% | 74.2% | 75.5% | -1.2pp | -2.5pp |
| Net Margin | -8.1% | -24.0% | -61.6% | 15.9pp | 53.5pp |
| EPS (Diluted) | $-0.22 | $-0.60 | $-0.89 | 63.3% | 75.3% |
| Free Cash Flow | -$700M | -$2.7B | -$574M | 74.1% | -21.9% |
| Item | Amount |
|---|---|
| REVENUE | $1.4B |
| Cost of Revenue | $369M |
| GROSS PROFIT | $996M |
| R&D Expenses | $0 |
| Selling & Marketing | $45M |
| General & Administrative | $152M |
| SG&A Expenses | $197M |
| Other Expenses | $747M |
| Operating Expenses | $944M |
| Cost & Expenses | $1.3B |
| OPERATING INCOME | $52M |
| Interest Income | $0 |
| Interest Expense | $311M |
| Other Income/Expenses | -$289M |
| INCOME BEFORE TAX | -$237M |
| Income Tax Expense | -$127M |
| Net Income from Continuing Ops | -$110M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$110M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$110M |
| D&A | $630M |
| EBIT | $74M |
| EBITDA | $704M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$110M |
| Depreciation & Amortization | $630M |
| Stock-Based Compensation | $144M |
| Deferred Income Tax | -$128M |
| Other Non-Cash Items | $135M |
| Change in Working Capital | $1.0B |
| OPERATING CASH FLOW | $1.7B |
| Capital Expenditure | -$2.4B |
| Acquisitions (Net) | -$10M |
| Purchases of Investments | -$47M |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$24M |
| NET CASH FROM INVESTING | -$2.5B |
| Net Debt Issuance | $1.7B |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$1.5B |
| NET CASH FROM FINANCING | $1.7B |
| FREE CASH FLOW | -$700M |
| Net Change in Cash | $778M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $1.9B |
| Short-Term Investments | $47M |
| Net Receivables | $1.7B |
| Inventory | $0 |
| Other Current Assets | $597M |
| TOTAL CURRENT ASSETS | $4.7B |
| PP&E (Net) | $25.3B |
| Goodwill | $830M |
| Intangible Assets | $200M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $1.8B |
| TOTAL NON-CURRENT ASSETS | $28.2B |
| TOTAL ASSETS | $32.9B |
| Account Payables | $1.2B |
| Short-Term Debt | $3.7B |
| Deferred Revenue | $0 |
| Other Current Liabilities | $1.3B |
| TOTAL CURRENT LIABILITIES | $9.7B |
| Long-Term Debt | $10.3B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $4.6B |
| TOTAL NON-CURRENT LIABILITIES | $19.3B |
| TOTAL LIABILITIES | $29.0B |
| Common Stock | $2.0K |
| Additional Paid-In Capital | $6.1B |
| Retained Earnings | -$2.2B |
| Treasury Stock | -$34M |
| Accum. Other Comp. Income | -$1M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $3.9B |
| Minority Interest | $0 |
| TOTAL EQUITY | $3.9B |
| TOTAL LIABILITIES & EQUITY | $32.9B |
| Total Debt | $18.8B |
| Net Debt | $16.9B |
