| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $878M | $851M | $713M | 3.2% | 23.1% |
| Op. Income | -$77M | -$26M | -$876M | -200.2% | 91.3% |
| Gross Margin | 70.1% | 68.6% | 60.2% | 1.5pp | 9.9pp |
| Net Margin | -9.8% | -2.3% | -121.2% | -7.5pp | 111.4pp |
| EPS (Diluted) | $-0.45 | $-0.10 | $-4.67 | -350.0% | 90.4% |
| Free Cash Flow | $120M | $190M | $11M | -36.6% | 1020.7% |
| Item | Amount |
|---|---|
| REVENUE | $878M |
| Cost of Revenue | $263M |
| GROSS PROFIT | $616M |
| R&D Expenses | $191M |
| Selling & Marketing | $289M |
| General & Administrative | $218M |
| SG&A Expenses | $507M |
| Other Expenses | -$7M |
| Operating Expenses | $693M |
| Cost & Expenses | $955M |
| OPERATING INCOME | -$77M |
| Interest Income | $8M |
| Interest Expense | $8M |
| Other Income/Expenses | -$8M |
| INCOME BEFORE TAX | -$85M |
| Income Tax Expense | $872.0K |
| Net Income from Continuing Ops | -$86M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$86M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$86M |
| D&A | $56M |
| EBIT | -$77M |
| EBITDA | -$20M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$86M |
| Depreciation & Amortization | $56M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | -$1M |
| Other Non-Cash Items | $145M |
| Change in Working Capital | $38M |
| OPERATING CASH FLOW | $152M |
| Capital Expenditure | -$31M |
| Acquisitions (Net) | -$75M |
| Purchases of Investments | -$4M |
| Sales/Maturities of Investments | $202M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $91M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$88M |
| NET CASH FROM FINANCING | -$76M |
| FREE CASH FLOW | $120M |
| Net Change in Cash | $167M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $956M |
| Short-Term Investments | $9M |
| Net Receivables | $299M |
| Inventory | $166M |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $1.4B |
| PP&E (Net) | $831M |
| Goodwill | $2.4B |
| Intangible Assets | $920M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $0 |
| TOTAL NON-CURRENT ASSETS | $4.1B |
| TOTAL ASSETS | $5.9B |
| Account Payables | $176M |
| Short-Term Debt | $39M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $149M |
| TOTAL CURRENT LIABILITIES | $641M |
| Long-Term Debt | $2.3B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $323M |
| TOTAL NON-CURRENT LIABILITIES | $2.8B |
| TOTAL LIABILITIES | $3.5B |
| Common Stock | $2M |
| Additional Paid-In Capital | $7.1B |
| Retained Earnings | -$4.7B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $2M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $2.4B |
| Minority Interest | $0 |
| TOTAL EQUITY | $2.4B |
| TOTAL LIABILITIES & EQUITY | $5.9B |
| Total Debt | $2.5B |
| Net Debt | $1.6B |
