| Metric | Q1 2025 | Q4 2024 | Q1 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $578M | $680M | $446M | -15.1% | 29.5% |
| Op. Income | -$50M | -$140M | $95M | 63.9% | -152.9% |
| Gross Margin | -3.4% | 100.0% | 28.6% | -103.4pp | -31.9pp |
| Net Margin | -7.4% | -18.0% | 18.2% | 10.6pp | -25.6pp |
| EPS (Diluted) | $-0.38 | $-1.09 | $0.69 | 65.1% | -155.1% |
| Free Cash Flow | -$433M | $125M | -$36M | -445.6% | -1117.4% |
| Item | Amount |
|---|---|
| REVENUE | $578M |
| Cost of Revenue | $597M |
| GROSS PROFIT | -$20M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $22M |
| SG&A Expenses | $22M |
| Other Expenses | $9M |
| Operating Expenses | $31M |
| Cost & Expenses | $628M |
| OPERATING INCOME | -$50M |
| Interest Income | $0 |
| Interest Expense | $9M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | -$50M |
| Income Tax Expense | -$8M |
| Net Income from Continuing Ops | -$43M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$43M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$43M |
| D&A | $0 |
| EBIT | -$42M |
| EBITDA | -$42M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$43M |
| Depreciation & Amortization | -$6M |
| Stock-Based Compensation | $1M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $702M |
| Change in Working Capital | -$1.1B |
| OPERATING CASH FLOW | -$433M |
| Capital Expenditure | -$300.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$369M |
| Sales/Maturities of Investments | $814M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $445M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | -$22M |
| Common Dividends Paid | -$11M |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | -$33M |
| FREE CASH FLOW | -$433M |
| Net Change in Cash | -$19M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $733M |
| Short-Term Investments | $3.2B |
| Net Receivables | $5.4B |
| Inventory | $0 |
| Other Current Assets | -$11.1B |
| TOTAL CURRENT ASSETS | $0 |
| PP&E (Net) | $0 |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $3.2B |
| Tax Assets | $0 |
| Other Non-Current Assets | -$3.2B |
| TOTAL NON-CURRENT ASSETS | $0 |
| TOTAL ASSETS | $12.8B |
| Account Payables | $1.8B |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | -$2.3B |
| TOTAL CURRENT LIABILITIES | $0 |
| Long-Term Debt | $449M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | -$449M |
| TOTAL NON-CURRENT LIABILITIES | $0 |
| TOTAL LIABILITIES | $10.4B |
| Common Stock | $1M |
| Additional Paid-In Capital | $1.9B |
| Retained Earnings | $450M |
| Treasury Stock | -$22M |
| Accum. Other Comp. Income | $22M |
| Other Equity | -$100.0K |
| TOTAL STOCKHOLDERS' EQUITY | $2.4B |
| Minority Interest | $0 |
| TOTAL EQUITY | $2.4B |
| TOTAL LIABILITIES & EQUITY | $12.8B |
| Total Debt | $449M |
| Net Debt | -$284M |
