| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $523M | $495M | $455M | 5.6% | 14.9% |
| Op. Income | $14M | -$33M | $14M | 142.3% | -3.3% |
| Gross Margin | 10.9% | 24.4% | 30.2% | -13.4pp | -19.2pp |
| Net Margin | -9.0% | -6.2% | 1.1% | -2.7pp | -10.1pp |
| EPS (Diluted) | $-0.84 | $-0.56 | $0.09 | -50.0% | -988.9% |
| Free Cash Flow | -$82M | $4M | -$45M | -2411.9% | -81.4% |
| Item | Amount |
|---|---|
| REVENUE | $523M |
| Cost of Revenue | $465M |
| GROSS PROFIT | $57M |
| R&D Expenses | $0 |
| Selling & Marketing | $50M |
| General & Administrative | $95M |
| SG&A Expenses | $145M |
| Other Expenses | -$101M |
| Operating Expenses | $43M |
| Cost & Expenses | $509M |
| OPERATING INCOME | $14M |
| Interest Income | $0 |
| Interest Expense | $2M |
| Other Income/Expenses | -$46M |
| INCOME BEFORE TAX | -$32M |
| Income Tax Expense | $15M |
| Net Income from Continuing Ops | -$47M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$47M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$47M |
| D&A | $22M |
| EBIT | -$16M |
| EBITDA | $21M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$47M |
| Depreciation & Amortization | $22M |
| Stock-Based Compensation | $5M |
| Deferred Income Tax | $368.0K |
| Other Non-Cash Items | $20M |
| Change in Working Capital | -$63M |
| OPERATING CASH FLOW | -$62M |
| Capital Expenditure | -$19M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$197M |
| Sales/Maturities of Investments | $48M |
| Other Investing Activities | $6M |
| NET CASH FROM INVESTING | -$163M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $9M |
| NET CASH FROM FINANCING | $10M |
| FREE CASH FLOW | -$82M |
| Net Change in Cash | -$216M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $1.4B |
| Short-Term Investments | $0 |
| Net Receivables | $197M |
| Inventory | $0 |
| Other Current Assets | $1.0B |
| TOTAL CURRENT ASSETS | $2.6B |
| PP&E (Net) | $199M |
| Goodwill | $302M |
| Intangible Assets | $73M |
| Long-Term Investments | $2.5B |
| Tax Assets | $92M |
| Other Non-Current Assets | $211M |
| TOTAL NON-CURRENT ASSETS | $3.3B |
| TOTAL ASSETS | $6.0B |
| Account Payables | $115M |
| Short-Term Debt | $325.0K |
| Deferred Revenue | $4M |
| Other Current Liabilities | $4.9B |
| TOTAL CURRENT LIABILITIES | $5.0B |
| Long-Term Debt | $64M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $282.0K |
| TOTAL NON-CURRENT LIABILITIES | $65M |
| TOTAL LIABILITIES | $5.1B |
| Common Stock | $56.0K |
| Additional Paid-In Capital | $427M |
| Retained Earnings | $645M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$182M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $890M |
| Minority Interest | $0 |
| TOTAL EQUITY | $890M |
| TOTAL LIABILITIES & EQUITY | $6.0B |
| Total Debt | $65M |
| Net Debt | -$1.4B |
