| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $701M | $710M | $675M | -1.3% | 3.9% |
| Op. Income | -$16M | -$11M | -$18M | -45.9% | 11.7% |
| Gross Margin | 14.7% | 16.0% | 22.0% | -1.3pp | -7.3pp |
| Net Margin | -2.3% | -52.8% | -4.1% | 50.5pp | 1.9pp |
| EPS (Diluted) | $-0.17 | $-4.14 | $-0.31 | 95.9% | 45.2% |
| Free Cash Flow | $80M | $14M | -$11M | 455.9% | 850.0% |
| Item | Amount |
|---|---|
| REVENUE | $701M |
| Cost of Revenue | $598M |
| GROSS PROFIT | $103M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $107M |
| Other Expenses | $12M |
| Operating Expenses | $119M |
| Cost & Expenses | $717M |
| OPERATING INCOME | -$16M |
| Interest Income | $0 |
| Interest Expense | $23M |
| Other Income/Expenses | -$13M |
| INCOME BEFORE TAX | -$29M |
| Income Tax Expense | -$13M |
| Net Income from Continuing Ops | -$16M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$16M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$16M |
| D&A | $20M |
| EBIT | -$6M |
| EBITDA | $14M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$16M |
| Depreciation & Amortization | $20M |
| Stock-Based Compensation | $22M |
| Deferred Income Tax | -$8M |
| Other Non-Cash Items | $8M |
| Change in Working Capital | $60M |
| OPERATING CASH FLOW | $87M |
| Capital Expenditure | -$7M |
| Acquisitions (Net) | $21M |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $13M |
| Net Debt Issuance | -$50M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | -$50M |
| FREE CASH FLOW | $80M |
| Net Change in Cash | $50M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $131M |
| Short-Term Investments | $0 |
| Net Receivables | $663M |
| Inventory | $0 |
| Other Current Assets | $124M |
| TOTAL CURRENT ASSETS | $919M |
| PP&E (Net) | $148M |
| Goodwill | $958M |
| Intangible Assets | $635M |
| Long-Term Investments | $0 |
| Tax Assets | $8M |
| Other Non-Current Assets | $74M |
| TOTAL NON-CURRENT ASSETS | $1.8B |
| TOTAL ASSETS | $2.7B |
| Account Payables | $50M |
| Short-Term Debt | $84M |
| Deferred Revenue | $412M |
| Other Current Liabilities | $370M |
| TOTAL CURRENT LIABILITIES | $914M |
| Long-Term Debt | $1.1B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $107M |
| Other Non-Current Liabilities | $36M |
| TOTAL NON-CURRENT LIABILITIES | $1.2B |
| TOTAL LIABILITIES | $2.2B |
| Common Stock | $100.0K |
| Additional Paid-In Capital | $2.1B |
| Retained Earnings | -$1.4B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$170M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $581M |
| Minority Interest | $0 |
| TOTAL EQUITY | $581M |
| TOTAL LIABILITIES & EQUITY | $2.7B |
| Total Debt | $1.2B |
| Net Debt | $1.1B |
