| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $1.2B | $1.2B | $1.6B | -4.8% | -29.5% |
| Op. Income | -$41M | -$81M | -$335M | 49.4% | 87.8% |
| Gross Margin | 38.5% | 35.4% | 23.1% | 3.1pp | 15.4pp |
| Net Margin | -3.1% | -5.7% | -17.0% | 2.6pp | 13.9pp |
| EPS (Diluted) | $-0.11 | $-0.19 | $-0.79 | 42.1% | 86.1% |
| Free Cash Flow | $233M | $348M | -$1.0B | -33.0% | 123.0% |
| Item | Amount |
|---|---|
| REVENUE | $1.2B |
| Cost of Revenue | $714M |
| GROSS PROFIT | $447M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $278M |
| SG&A Expenses | $278M |
| Other Expenses | $210M |
| Operating Expenses | $488M |
| Cost & Expenses | $1.2B |
| OPERATING INCOME | -$41M |
| Interest Income | $1.1B |
| Interest Expense | $676M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | -$41M |
| Income Tax Expense | -$5M |
| Net Income from Continuing Ops | -$36M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$36M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$45M |
| D&A | $37M |
| EBIT | -$41M |
| EBITDA | -$4M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$36M |
| Depreciation & Amortization | $37M |
| Stock-Based Compensation | $17M |
| Deferred Income Tax | -$17M |
| Other Non-Cash Items | $32M |
| Change in Working Capital | $210M |
| OPERATING CASH FLOW | $243M |
| Capital Expenditure | -$10M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$668M |
| Sales/Maturities of Investments | $45M |
| Other Investing Activities | $1.4B |
| NET CASH FROM INVESTING | $757M |
| Net Debt Issuance | -$2M |
| Common Stock Repurchased | -$2M |
| Common Dividends Paid | -$4M |
| Other Financing Activities | -$595M |
| NET CASH FROM FINANCING | -$612M |
| FREE CASH FLOW | $233M |
| Net Change in Cash | $388M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $8.5B |
| Short-Term Investments | $1M |
| Net Receivables | $0 |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $8.5B |
| PP&E (Net) | $464M |
| Goodwill | $0 |
| Intangible Assets | $407M |
| Long-Term Investments | $77.2B |
| Tax Assets | $0 |
| Other Non-Current Assets | $5.1B |
| TOTAL NON-CURRENT ASSETS | $83.2B |
| TOTAL ASSETS | $91.7B |
| Account Payables | $0 |
| Short-Term Debt | $2.5B |
| Deferred Revenue | $0 |
| Other Current Liabilities | $69.2B |
| TOTAL CURRENT LIABILITIES | $71.7B |
| Long-Term Debt | $10.7B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $1.2B |
| TOTAL NON-CURRENT LIABILITIES | $11.9B |
| TOTAL LIABILITIES | $83.6B |
| Common Stock | $4M |
| Additional Paid-In Capital | $9.3B |
| Retained Earnings | -$1.0B |
| Treasury Stock | -$198M |
| Accum. Other Comp. Income | -$495M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $8.1B |
| Minority Interest | $0 |
| TOTAL EQUITY | $8.1B |
| TOTAL LIABILITIES & EQUITY | $91.7B |
| Total Debt | $13.2B |
| Net Debt | $4.7B |
