| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $256M | $261M | $210M | -2.1% | 21.9% |
| Op. Income | $37M | $45M | $38M | -19.2% | -3.6% |
| Gross Margin | 16.9% | 20.2% | 22.8% | -3.4pp | -5.9pp |
| Net Margin | 18.5% | 17.4% | 16.8% | 1.1pp | 1.7pp |
| EPS (Diluted) | $0.88 | $0.85 | $0.68 | 3.5% | 29.4% |
| Free Cash Flow | $421.0K | -$6M | $3M | 107.4% | -85.0% |
| Item | Amount |
|---|---|
| REVENUE | $256M |
| Cost of Revenue | $213M |
| GROSS PROFIT | $43M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $6M |
| SG&A Expenses | $6M |
| Other Expenses | $202.0K |
| Operating Expenses | $7M |
| Cost & Expenses | $219M |
| OPERATING INCOME | $37M |
| Interest Income | $40M |
| Interest Expense | $48M |
| Other Income/Expenses | $10M |
| INCOME BEFORE TAX | $47M |
| Income Tax Expense | -$313.0K |
| Net Income from Continuing Ops | $47M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $47M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $47M |
| D&A | $36M |
| EBIT | $95M |
| EBITDA | $131M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| REVENUE | $256M |
| Cost of Revenue | $213M |
| GROSS PROFIT | $43M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $6M |
| SG&A Expenses | $6M |
| Other Expenses | $202.0K |
| Operating Expenses | $7M |
| Cost & Expenses | $219M |
| OPERATING INCOME | $37M |
| Interest Income | $40M |
| Interest Expense | $48M |
| Other Income/Expenses | $10M |
| INCOME BEFORE TAX | $47M |
| Income Tax Expense | -$313.0K |
| Net Income from Continuing Ops | $47M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $47M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $47M |
| D&A | $36M |
| EBIT | $95M |
| EBITDA | $131M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $47M |
| Depreciation & Amortization | $36M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$26M |
| Change in Working Capital | -$27M |
| OPERATING CASH FLOW | $31M |
| Capital Expenditure | -$31M |
| Acquisitions (Net) | $270.0K |
| Purchases of Investments | -$2M |
| Sales/Maturities of Investments | $16M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$20M |
| Net Debt Issuance | $50M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | -$60M |
| Other Financing Activities | $3M |
| NET CASH FROM FINANCING | -$7M |
| FREE CASH FLOW | $421.0K |
| Net Change in Cash | $4M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $11M |
| Short-Term Investments | $0 |
| Net Receivables | $115M |
| Inventory | $18M |
| Other Current Assets | $257M |
| TOTAL CURRENT ASSETS | $401M |
| PP&E (Net) | $1.9B |
| Goodwill | $12M |
| Intangible Assets | $233M |
| Long-Term Investments | $340M |
| Tax Assets | $0 |
| Other Non-Current Assets | -$74M |
| TOTAL NON-CURRENT ASSETS | $2.4B |
| TOTAL ASSETS | $2.8B |
| Account Payables | $293M |
| Short-Term Debt | $11M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $52M |
| TOTAL CURRENT LIABILITIES | $356M |
| Long-Term Debt | $24M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $2.4B |
| TOTAL NON-CURRENT LIABILITIES | $2.4B |
| TOTAL LIABILITIES | $2.8B |
| Common Stock | $0 |
| Additional Paid-In Capital | $0 |
| Retained Earnings | $0 |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $6M |
| TOTAL STOCKHOLDERS' EQUITY | $6M |
| Minority Interest | $0 |
| TOTAL EQUITY | $6M |
| TOTAL LIABILITIES & EQUITY | $2.8B |
| Total Debt | $35M |
| Net Debt | $24M |
