| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $2.0B | $2.2B | $2.2B | -10.4% | -12.1% |
| Op. Income | $121M | $210M | $378M | -42.4% | -68.0% |
| Gross Margin | 17.1% | 19.7% | 24.7% | -2.5pp | -7.5pp |
| Net Margin | 5.3% | 2.1% | 14.7% | 3.2pp | -9.4pp |
| EPS (Diluted) | $0.92 | $0.41 | $2.82 | 124.4% | -67.4% |
| Free Cash Flow | $390M | $265M | $365M | 47.2% | 6.8% |
| Item | Amount |
|---|---|
| REVENUE | $2.0B |
| Cost of Revenue | $1.6B |
| GROSS PROFIT | $338M |
| R&D Expenses | $58M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $159M |
| Other Expenses | $0 |
| Operating Expenses | $217M |
| Cost & Expenses | $1.9B |
| OPERATING INCOME | $121M |
| Interest Income | $0 |
| Interest Expense | $52M |
| Other Income/Expenses | -$109M |
| INCOME BEFORE TAX | $12M |
| Income Tax Expense | -$93M |
| Net Income from Continuing Ops | $105M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $105M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $105M |
| D&A | $131M |
| EBIT | $64M |
| EBITDA | $195M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| REVENUE | $2.0B |
| Cost of Revenue | $1.6B |
| GROSS PROFIT | $338M |
| R&D Expenses | $58M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $159M |
| Other Expenses | $0 |
| Operating Expenses | $217M |
| Cost & Expenses | $1.9B |
| OPERATING INCOME | $121M |
| Interest Income | $0 |
| Interest Expense | $52M |
| Other Income/Expenses | -$109M |
| INCOME BEFORE TAX | $12M |
| Income Tax Expense | -$93M |
| Net Income from Continuing Ops | $105M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $105M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $105M |
| D&A | $131M |
| EBIT | $64M |
| EBITDA | $195M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $105M |
| Depreciation & Amortization | $131M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $102M |
| Other Non-Cash Items | $27M |
| Change in Working Capital | $137M |
| OPERATING CASH FLOW | $502M |
| Capital Expenditure | -$112M |
| Acquisitions (Net) | $38M |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $27M |
| NET CASH FROM INVESTING | -$47M |
| Net Debt Issuance | -$290M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | -$94M |
| Other Financing Activities | $2M |
| NET CASH FROM FINANCING | -$382M |
| FREE CASH FLOW | $390M |
| Net Change in Cash | -$489M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $566M |
| Short-Term Investments | $0 |
| Net Receivables | $999M |
| Inventory | $2.0B |
| Other Current Assets | $100M |
| TOTAL CURRENT ASSETS | $3.6B |
| PP&E (Net) | $5.9B |
| Goodwill | $3.7B |
| Intangible Assets | $970M |
| Long-Term Investments | $111M |
| Tax Assets | $0 |
| Other Non-Current Assets | $546M |
| TOTAL NON-CURRENT ASSETS | $11.2B |
| TOTAL ASSETS | $14.9B |
| Account Payables | $1.2B |
| Short-Term Debt | $642M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $396M |
| TOTAL CURRENT LIABILITIES | $2.7B |
| Long-Term Debt | $4.3B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $669M |
| Other Non-Current Liabilities | $1.1B |
| TOTAL NON-CURRENT LIABILITIES | $6.2B |
| TOTAL LIABILITIES | $8.8B |
| Common Stock | $2M |
| Additional Paid-In Capital | $2.5B |
| Retained Earnings | $10.1B |
| Treasury Stock | -$6.5B |
| Accum. Other Comp. Income | -$160M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $6.0B |
| Minority Interest | $76M |
| TOTAL EQUITY | $6.0B |
| TOTAL LIABILITIES & EQUITY | $14.9B |
| Total Debt | $5.1B |
| Net Debt | $4.5B |
