| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $293M | $192M | $259M | 53.1% | 13.4% |
| Op. Income | $28M | -$52M | $8M | 154.1% | 254.6% |
| Gross Margin | 31.0% | -0.0% | 20.8% | 31.0pp | 10.1pp |
| Net Margin | 5.8% | -26.3% | -18.5% | 32.1pp | 24.2pp |
| EPS (Diluted) | $0.05 | $-0.14 | $-0.13 | 134.0% | 137.1% |
| Free Cash Flow | $54M | -$103M | $57M | 153.1% | -5.2% |
| Item | Amount |
|---|---|
| REVENUE | $293M |
| Cost of Revenue | $202M |
| GROSS PROFIT | $91M |
| R&D Expenses | $11M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $51M |
| Other Expenses | $0 |
| Operating Expenses | $63M |
| Cost & Expenses | $265M |
| OPERATING INCOME | $28M |
| Interest Income | $1M |
| Interest Expense | $4M |
| Other Income/Expenses | $6M |
| INCOME BEFORE TAX | $34M |
| Income Tax Expense | $17M |
| Net Income from Continuing Ops | $17M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $17M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $17M |
| D&A | $28M |
| EBIT | $28M |
| EBITDA | $56M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $293M |
| Cost of Revenue | $202M |
| GROSS PROFIT | $91M |
| R&D Expenses | $11M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $51M |
| Other Expenses | $0 |
| Operating Expenses | $63M |
| Cost & Expenses | $265M |
| OPERATING INCOME | $28M |
| Interest Income | $1M |
| Interest Expense | $4M |
| Other Income/Expenses | $6M |
| INCOME BEFORE TAX | $34M |
| Income Tax Expense | $17M |
| Net Income from Continuing Ops | $17M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $17M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $17M |
| D&A | $28M |
| EBIT | $28M |
| EBITDA | $56M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $17M |
| Depreciation & Amortization | $0 |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $48M |
| Change in Working Capital | $7M |
| OPERATING CASH FLOW | $71M |
| Capital Expenditure | -$17M |
| Acquisitions (Net) | $251M |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $16M |
| NET CASH FROM INVESTING | $249M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$49M |
| NET CASH FROM FINANCING | -$51M |
| FREE CASH FLOW | $54M |
| Net Change in Cash | $286M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $489M |
| Short-Term Investments | $68M |
| Net Receivables | $250M |
| Inventory | $34M |
| Other Current Assets | $29M |
| TOTAL CURRENT ASSETS | $892M |
| PP&E (Net) | $648M |
| Goodwill | $318M |
| Intangible Assets | $37M |
| Long-Term Investments | $62M |
| Tax Assets | $79M |
| Other Non-Current Assets | $43M |
| TOTAL NON-CURRENT ASSETS | $1.2B |
| TOTAL ASSETS | $2.1B |
| Account Payables | $76M |
| Short-Term Debt | $121M |
| Deferred Revenue | $126M |
| Other Current Liabilities | $48M |
| TOTAL CURRENT LIABILITIES | $430M |
| Long-Term Debt | $228M |
| Deferred Revenue NC | $180M |
| Deferred Tax Liabilities | $93M |
| Other Non-Current Liabilities | $23M |
| TOTAL NON-CURRENT LIABILITIES | $698M |
| TOTAL LIABILITIES | $1.1B |
| Common Stock | $208M |
| Additional Paid-In Capital | $1.7B |
| Retained Earnings | -$907M |
| Treasury Stock | -$2M |
| Accum. Other Comp. Income | -$40M |
| Other Equity | -$13M |
| TOTAL STOCKHOLDERS' EQUITY | $951M |
| Minority Interest | $0 |
| TOTAL EQUITY | $951M |
| TOTAL LIABILITIES & EQUITY | $2.1B |
| Total Debt | $523M |
| Net Debt | $34M |
