| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $318M | $391M | $275M | -18.8% | 15.7% |
| Op. Income | $71M | $87M | $60M | -18.6% | 18.0% |
| Gross Margin | 31.2% | 37.0% | 38.7% | -5.8pp | -7.5pp |
| Net Margin | 2.9% | 3.6% | 4.0% | -0.7pp | -1.1pp |
| EPS (Diluted) | $0.28 | $0.43 | $0.40 | -34.9% | -30.0% |
| Free Cash Flow | $50M | $63M | -$14M | -21.2% | 455.8% |
| Item | Amount |
|---|---|
| REVENUE | $318M |
| Cost of Revenue | $218M |
| GROSS PROFIT | $99M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $28M |
| Other Expenses | $0 |
| Operating Expenses | $28M |
| Cost & Expenses | $247M |
| OPERATING INCOME | $71M |
| Interest Income | $0 |
| Interest Expense | $28M |
| Other Income/Expenses | -$24M |
| INCOME BEFORE TAX | $47M |
| Income Tax Expense | $8M |
| Net Income from Continuing Ops | $39M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $9M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $9M |
| D&A | $33M |
| EBIT | $75M |
| EBITDA | $108M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $318M |
| Cost of Revenue | $218M |
| GROSS PROFIT | $99M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $28M |
| Other Expenses | $0 |
| Operating Expenses | $28M |
| Cost & Expenses | $247M |
| OPERATING INCOME | $71M |
| Interest Income | $0 |
| Interest Expense | $28M |
| Other Income/Expenses | -$24M |
| INCOME BEFORE TAX | $47M |
| Income Tax Expense | $8M |
| Net Income from Continuing Ops | $39M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $9M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $9M |
| D&A | $33M |
| EBIT | $75M |
| EBITDA | $108M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $9M |
| Depreciation & Amortization | $33M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $530.0K |
| Other Non-Cash Items | $21M |
| Change in Working Capital | $19M |
| OPERATING CASH FLOW | $83M |
| Capital Expenditure | -$34M |
| Acquisitions (Net) | $29M |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$5M |
| Net Debt Issuance | $7M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | -$3M |
| Other Financing Activities | -$8M |
| NET CASH FROM FINANCING | -$4M |
| FREE CASH FLOW | $50M |
| Net Change in Cash | $75M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $541M |
| Short-Term Investments | $0 |
| Net Receivables | $136M |
| Inventory | $27M |
| Other Current Assets | $5M |
| TOTAL CURRENT ASSETS | $753M |
| PP&E (Net) | $2.3B |
| Goodwill | $235M |
| Intangible Assets | $359M |
| Long-Term Investments | $338M |
| Tax Assets | $25M |
| Other Non-Current Assets | $121M |
| TOTAL NON-CURRENT ASSETS | $3.4B |
| TOTAL ASSETS | $4.1B |
| Account Payables | $47M |
| Short-Term Debt | $83M |
| Deferred Revenue | $57M |
| Other Current Liabilities | $96M |
| TOTAL CURRENT LIABILITIES | $310M |
| Long-Term Debt | $1.1B |
| Deferred Revenue NC | $29M |
| Deferred Tax Liabilities | $65M |
| Other Non-Current Liabilities | $151M |
| TOTAL NON-CURRENT LIABILITIES | $1.6B |
| TOTAL LIABILITIES | $1.9B |
| Common Stock | $117.0K |
| Additional Paid-In Capital | $635M |
| Retained Earnings | $103M |
| Treasury Stock | -$55M |
| Accum. Other Comp. Income | -$112.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $682M |
| Minority Interest | $1.5B |
| TOTAL EQUITY | $2.2B |
| TOTAL LIABILITIES & EQUITY | $4.1B |
| Total Debt | $1.4B |
| Net Debt | $889M |
