| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $421M | $422M | — | -0.2% | — |
| Op. Income | $52M | $53M | — | -1.1% | — |
| Gross Margin | 19.0% | 22.1% | — | -3.2pp | — |
| Net Margin | -16.0% | 25.1% | — | -41.1pp | — |
| EPS (Diluted) | $-0.36 | $0.42 | — | -186.1% | — |
| Free Cash Flow | $9M | -$100M | — | 109.4% | — |
| Item | Amount |
|---|---|
| REVENUE | $421M |
| Cost of Revenue | $341M |
| GROSS PROFIT | $80M |
| R&D Expenses | $1M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $26M |
| Other Expenses | $1 |
| Operating Expenses | $28M |
| Cost & Expenses | $369M |
| OPERATING INCOME | $52M |
| Interest Income | $0 |
| Interest Expense | $60M |
| Other Income/Expenses | -$116M |
| INCOME BEFORE TAX | -$63M |
| Income Tax Expense | $3M |
| Net Income from Continuing Ops | -$67M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$67M |
| Net Income Deductions | $1 |
| BOTTOM LINE NET INCOME | -$69M |
| D&A | $128M |
| EBIT | $52M |
| EBITDA | $180M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$67M |
| Depreciation & Amortization | $128M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $70M |
| Change in Working Capital | $10M |
| OPERATING CASH FLOW | $140M |
| Capital Expenditure | -$131M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$96M |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$681.4K |
| NET CASH FROM INVESTING | -$227M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $215M |
| NET CASH FROM FINANCING | $215M |
| FREE CASH FLOW | $9M |
| Net Change in Cash | $162M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $2.1B |
| Short-Term Investments | $0 |
| Net Receivables | $402M |
| Inventory | $0 |
| Other Current Assets | $218M |
| TOTAL CURRENT ASSETS | $2.7B |
| PP&E (Net) | $6.3B |
| Goodwill | $798M |
| Intangible Assets | $0 |
| Long-Term Investments | $1.5B |
| Tax Assets | $0 |
| Other Non-Current Assets | $446M |
| TOTAL NON-CURRENT ASSETS | $9.0B |
| TOTAL ASSETS | $11.7B |
| Account Payables | $283M |
| Short-Term Debt | $550M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $210M |
| TOTAL CURRENT LIABILITIES | $1.0B |
| Long-Term Debt | $5.2B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $200M |
| TOTAL NON-CURRENT LIABILITIES | $6.6B |
| TOTAL LIABILITIES | $7.6B |
| Common Stock | $82.2K |
| Additional Paid-In Capital | $4.6B |
| Retained Earnings | -$745M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$121M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $3.9B |
| Minority Interest | $131M |
| TOTAL EQUITY | $4.1B |
| TOTAL LIABILITIES & EQUITY | $11.7B |
| Total Debt | $6.9B |
| Net Debt | $4.9B |
