| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $1.2B | — | $1.5B | — | -20.0% |
| Op. Income | -$85M | — | -$127M | — | 32.9% |
| Gross Margin | 10.2% | — | 14.3% | — | -4.0pp |
| Net Margin | -7.1% | — | 2.2% | — | -9.3pp |
| EPS (Diluted) | $-1.28 | — | $0.48 | — | -366.7% |
| Free Cash Flow | -$396M | — | -$251M | — | -57.5% |
| Item | Amount |
|---|---|
| REVENUE | $1.2B |
| Cost of Revenue | $1.1B |
| GROSS PROFIT | $124M |
| R&D Expenses | $22M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $188M |
| Other Expenses | $0 |
| Operating Expenses | $210M |
| Cost & Expenses | $1.3B |
| OPERATING INCOME | -$85M |
| Interest Income | $9M |
| Interest Expense | $48M |
| Other Income/Expenses | -$50M |
| INCOME BEFORE TAX | -$135M |
| Income Tax Expense | -$4M |
| Net Income from Continuing Ops | -$131M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$86M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$86M |
| D&A | $0 |
| EBIT | -$85M |
| EBITDA | -$85M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$86M |
| Depreciation & Amortization | $0 |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $118M |
| Change in Working Capital | -$99M |
| OPERATING CASH FLOW | -$67M |
| Capital Expenditure | -$329M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $21M |
| NET CASH FROM INVESTING | -$309M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | -$25M |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$165M |
| NET CASH FROM FINANCING | $29M |
| FREE CASH FLOW | -$396M |
| Net Change in Cash | -$257M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $1.9B |
| Short-Term Investments | $0 |
| Net Receivables | $1.3B |
| Inventory | $1.4B |
| Other Current Assets | $838M |
| TOTAL CURRENT ASSETS | $5.4B |
| PP&E (Net) | $5.9B |
| Goodwill | $0 |
| Intangible Assets | $32M |
| Long-Term Investments | $395M |
| Tax Assets | $634M |
| Other Non-Current Assets | $2.8B |
| TOTAL NON-CURRENT ASSETS | $9.7B |
| TOTAL ASSETS | $15.2B |
| Account Payables | $879M |
| Short-Term Debt | $3.5B |
| Deferred Revenue | $163M |
| Other Current Liabilities | $1.3B |
| TOTAL CURRENT LIABILITIES | $5.9B |
| Long-Term Debt | $3.8B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $297M |
| Other Non-Current Liabilities | $584M |
| TOTAL NON-CURRENT LIABILITIES | $5.1B |
| TOTAL LIABILITIES | $10.9B |
| Common Stock | $836M |
| Additional Paid-In Capital | $569M |
| Retained Earnings | $1.5B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$78M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $2.8B |
| Minority Interest | $1.5B |
| TOTAL EQUITY | $4.3B |
| TOTAL LIABILITIES & EQUITY | $15.2B |
| Total Debt | $7.7B |
| Net Debt | $5.8B |
