| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $264M | $296M | $286M | -10.7% | -7.7% |
| Op. Income | $64M | $106M | $34M | -39.3% | 91.7% |
| Gross Margin | 59.1% | 66.0% | 59.9% | -6.9pp | -0.8pp |
| Net Margin | 10.0% | 15.4% | 5.1% | -5.4pp | 4.9pp |
| EPS (Diluted) | $0.45 | $0.78 | $0.25 | -42.3% | 80.0% |
| Free Cash Flow | $77M | $81M | $27M | -5.1% | 188.3% |
| Item | Amount |
|---|---|
| REVENUE | $264M |
| Cost of Revenue | $108M |
| GROSS PROFIT | $156M |
| R&D Expenses | $5M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $87M |
| Other Expenses | $100.0K |
| Operating Expenses | $92M |
| Cost & Expenses | $200M |
| OPERATING INCOME | $64M |
| Interest Income | $0 |
| Interest Expense | $26M |
| Other Income/Expenses | -$35M |
| INCOME BEFORE TAX | $29M |
| Income Tax Expense | $3M |
| Net Income from Continuing Ops | $26M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $26M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $26M |
| D&A | $16M |
| EBIT | $55M |
| EBITDA | $71M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $264M |
| Cost of Revenue | $108M |
| GROSS PROFIT | $156M |
| R&D Expenses | $5M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $87M |
| Other Expenses | $100.0K |
| Operating Expenses | $92M |
| Cost & Expenses | $200M |
| OPERATING INCOME | $64M |
| Interest Income | $0 |
| Interest Expense | $26M |
| Other Income/Expenses | -$35M |
| INCOME BEFORE TAX | $29M |
| Income Tax Expense | $3M |
| Net Income from Continuing Ops | $26M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $26M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $26M |
| D&A | $16M |
| EBIT | $55M |
| EBITDA | $71M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $26M |
| Depreciation & Amortization | $16M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $6M |
| Other Non-Cash Items | $12M |
| Change in Working Capital | $24M |
| OPERATING CASH FLOW | $84M |
| Capital Expenditure | -$7M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$7M |
| Net Debt Issuance | -$73M |
| Common Stock Repurchased | $6M |
| Common Dividends Paid | -$9M |
| Other Financing Activities | -$6M |
| NET CASH FROM FINANCING | -$82M |
| FREE CASH FLOW | $77M |
| Net Change in Cash | -$5M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $226M |
| Short-Term Investments | $0 |
| Net Receivables | $149M |
| Inventory | $179M |
| Other Current Assets | $78M |
| TOTAL CURRENT ASSETS | $631M |
| PP&E (Net) | $257M |
| Goodwill | $15M |
| Intangible Assets | $7M |
| Long-Term Investments | $0 |
| Tax Assets | $180M |
| Other Non-Current Assets | $0 |
| TOTAL NON-CURRENT ASSETS | $460M |
| TOTAL ASSETS | $1.1B |
| Account Payables | $74M |
| Short-Term Debt | $13M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $13M |
| TOTAL CURRENT LIABILITIES | $262M |
| Long-Term Debt | $1.4B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $63M |
| TOTAL NON-CURRENT LIABILITIES | $1.5B |
| TOTAL LIABILITIES | $1.7B |
| Common Stock | $600.0K |
| Additional Paid-In Capital | $80M |
| Retained Earnings | -$446M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$286M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | -$651M |
| Minority Interest | $0 |
| TOTAL EQUITY | -$651M |
| TOTAL LIABILITIES & EQUITY | $1.1B |
| Total Debt | $1.4B |
| Net Debt | $1.2B |
