| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $2.0B | — | $2.4B | — | -17.1% |
| Op. Income | $366M | — | -$916M | — | 140.0% |
| Gross Margin | 31.0% | — | 29.0% | — | 2.1pp |
| Net Margin | -60.4% | — | -79.0% | — | 18.6pp |
| EPS (Diluted) | $-1.45 | — | $-2.06 | — | 29.5% |
| Free Cash Flow | -$10M | — | $213M | — | -104.5% |
| Item | Amount |
|---|---|
| REVENUE | $2.0B |
| Cost of Revenue | $1.4B |
| GROSS PROFIT | $610M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $238M |
| Other Expenses | $6M |
| Operating Expenses | $244M |
| Cost & Expenses | $1.6B |
| OPERATING INCOME | $366M |
| Interest Income | $190M |
| Interest Expense | $85M |
| Other Income/Expenses | -$1.7B |
| INCOME BEFORE TAX | -$1.4B |
| Income Tax Expense | $38M |
| Net Income from Continuing Ops | -$1.4B |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$1.2B |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$1.2B |
| D&A | $190M |
| EBIT | $366M |
| EBITDA | $556M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$1.2B |
| Depreciation & Amortization | $190M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $1.3B |
| Change in Working Capital | $112M |
| OPERATING CASH FLOW | $433M |
| Capital Expenditure | -$442M |
| Acquisitions (Net) | -$749M |
| Purchases of Investments | $670.6K |
| Sales/Maturities of Investments | $147M |
| Other Investing Activities | $15M |
| NET CASH FROM INVESTING | -$1.0B |
| Net Debt Issuance | $414M |
| Common Stock Repurchased | -$2M |
| Common Dividends Paid | -$56M |
| Other Financing Activities | $362M |
| NET CASH FROM FINANCING | $3.4B |
| FREE CASH FLOW | -$10M |
| Net Change in Cash | $2.8B |
| Item | Amount |
|---|---|
| Cash & Equivalents | $5.5B |
| Short-Term Investments | $521M |
| Net Receivables | $1.2B |
| Inventory | $397M |
| Other Current Assets | $732M |
| TOTAL CURRENT ASSETS | $8.3B |
| PP&E (Net) | $7.3B |
| Goodwill | $355M |
| Intangible Assets | $5.0B |
| Long-Term Investments | $5.1B |
| Tax Assets | $476M |
| Other Non-Current Assets | $590M |
| TOTAL NON-CURRENT ASSETS | $18.9B |
| TOTAL ASSETS | $27.2B |
| Account Payables | $821M |
| Short-Term Debt | $789M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $1.1B |
| TOTAL CURRENT LIABILITIES | $3.1B |
| Long-Term Debt | $12.1B |
| Deferred Revenue NC | $3M |
| Deferred Tax Liabilities | $1.2B |
| Other Non-Current Liabilities | $2.6B |
| TOTAL NON-CURRENT LIABILITIES | $17.1B |
| TOTAL LIABILITIES | $20.2B |
| Common Stock | $2.1B |
| Additional Paid-In Capital | $0 |
| Retained Earnings | $0 |
| Treasury Stock | -$15M |
| Accum. Other Comp. Income | -$987M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $1.1B |
| Minority Interest | $5.2B |
| TOTAL EQUITY | $6.2B |
| TOTAL LIABILITIES & EQUITY | $27.2B |
| Total Debt | $14.2B |
| Net Debt | $8.7B |
