| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $3.4B | $3.5B | $3.9B | -4.0% | -12.0% |
| Op. Income | $8M | $306M | -$233M | -97.4% | 103.4% |
| Gross Margin | 72.1% | 75.0% | 71.8% | -2.9pp | 0.3pp |
| Net Margin | -16.0% | 4.5% | -7.3% | -20.5pp | -8.7pp |
| EPS (Diluted) | $-1.51 | $0.44 | $-0.79 | -443.2% | -91.1% |
| Free Cash Flow | $394M | $162M | $672M | 143.2% | -41.4% |
| Item | Amount |
|---|---|
| REVENUE | $3.4B |
| Cost of Revenue | $955M |
| GROSS PROFIT | $2.5B |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $2.4B |
| Other Expenses | $0 |
| Operating Expenses | $2.4B |
| Cost & Expenses | $3.4B |
| OPERATING INCOME | $8M |
| Interest Income | $29M |
| Interest Expense | $135M |
| Other Income/Expenses | -$459M |
| INCOME BEFORE TAX | -$451M |
| Income Tax Expense | $95M |
| Net Income from Continuing Ops | -$546M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$546M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$546M |
| D&A | $221M |
| EBIT | -$344M |
| EBITDA | -$123M |
| EPS | -$2 |
| EPS Diluted | -$2 |
| Item | Amount |
|---|---|
| Net Income | -$546M |
| Depreciation & Amortization | $221M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | -$62M |
| Other Non-Cash Items | $474M |
| Change in Working Capital | $514M |
| OPERATING CASH FLOW | $601M |
| Capital Expenditure | -$207M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$8M |
| NET CASH FROM INVESTING | -$215M |
| Net Debt Issuance | -$2M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | -$126M |
| Other Financing Activities | $15M |
| NET CASH FROM FINANCING | -$128M |
| FREE CASH FLOW | $394M |
| Net Change in Cash | $290M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $2.9B |
| Short-Term Investments | $0 |
| Net Receivables | $1.5B |
| Inventory | $2.1B |
| Other Current Assets | $544M |
| TOTAL CURRENT ASSETS | $7.1B |
| PP&E (Net) | $5.1B |
| Goodwill | $2.1B |
| Intangible Assets | $3.8B |
| Long-Term Investments | $40M |
| Tax Assets | $1.3B |
| Other Non-Current Assets | $426M |
| TOTAL NON-CURRENT ASSETS | $12.8B |
| TOTAL ASSETS | $19.9B |
| Account Payables | $1.5B |
| Short-Term Debt | $3M |
| Deferred Revenue | $314M |
| Other Current Liabilities | $2.4B |
| TOTAL CURRENT LIABILITIES | $5.4B |
| Long-Term Debt | $7.3B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $1.5B |
| TOTAL NON-CURRENT LIABILITIES | $10.6B |
| TOTAL LIABILITIES | $16.0B |
| Common Stock | $6M |
| Additional Paid-In Capital | $7.0B |
| Retained Earnings | $11.7B |
| Treasury Stock | -$13.7B |
| Accum. Other Comp. Income | -$1.1B |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $3.9B |
| Minority Interest | $0 |
| TOTAL EQUITY | $3.9B |
| TOTAL LIABILITIES & EQUITY | $19.9B |
| Total Debt | $9.4B |
| Net Debt | $6.5B |
