| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $262M | $257M | — | 1.9% | — |
| Op. Income | $32M | -$488M | — | 106.6% | — |
| Gross Margin | 26.3% | 49.0% | — | -22.7pp | — |
| Net Margin | 6.1% | -150.6% | — | 156.7pp | — |
| EPS (Diluted) | $0.40 | $-13.34 | — | 103.0% | — |
| Free Cash Flow | -$6M | $21M | — | -128.6% | — |
| Item | Amount |
|---|---|
| REVENUE | $262M |
| Cost of Revenue | $193M |
| GROSS PROFIT | $69M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $37M |
| Other Expenses | $0 |
| Operating Expenses | $37M |
| Cost & Expenses | $230M |
| OPERATING INCOME | $32M |
| Interest Income | $0 |
| Interest Expense | $11M |
| Other Income/Expenses | -$11M |
| INCOME BEFORE TAX | $21M |
| Income Tax Expense | $5M |
| 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 | $54M |
| EBIT | $32M |
| EBITDA | $86M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $262M |
| Cost of Revenue | $193M |
| GROSS PROFIT | $69M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $37M |
| Other Expenses | $0 |
| Operating Expenses | $37M |
| Cost & Expenses | $230M |
| OPERATING INCOME | $32M |
| Interest Income | $0 |
| Interest Expense | $11M |
| Other Income/Expenses | -$11M |
| INCOME BEFORE TAX | $21M |
| Income Tax Expense | $5M |
| 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 | $54M |
| EBIT | $32M |
| EBITDA | $86M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $16M |
| Depreciation & Amortization | $54M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $8M |
| Other Non-Cash Items | $144M |
| Change in Working Capital | -$154M |
| OPERATING CASH FLOW | $68M |
| Capital Expenditure | -$74M |
| Acquisitions (Net) | $2M |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$72M |
| Net Debt Issuance | -$1M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$2M |
| NET CASH FROM FINANCING | $296M |
| FREE CASH FLOW | -$6M |
| Net Change in Cash | $300M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $424M |
| Short-Term Investments | $0 |
| Net Receivables | $141M |
| Inventory | $0 |
| Other Current Assets | $50M |
| TOTAL CURRENT ASSETS | $615M |
| PP&E (Net) | $1.3B |
| Goodwill | $638M |
| Intangible Assets | $546M |
| Long-Term Investments | $5M |
| Tax Assets | $209M |
| Other Non-Current Assets | $71M |
| TOTAL NON-CURRENT ASSETS | $2.8B |
| TOTAL ASSETS | $3.4B |
| Account Payables | $123M |
| Short-Term Debt | $39M |
| Deferred Revenue | $23M |
| Other Current Liabilities | $11M |
| TOTAL CURRENT LIABILITIES | $196M |
| Long-Term Debt | $1.1B |
| Deferred Revenue NC | $130M |
| Deferred Tax Liabilities | $178M |
| Other Non-Current Liabilities | $88M |
| TOTAL NON-CURRENT LIABILITIES | $1.5B |
| TOTAL LIABILITIES | $1.7B |
| Common Stock | $0 |
| Additional Paid-In Capital | $2.4B |
| Retained Earnings | -$672M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $1.7B |
| Minority Interest | $18M |
| TOTAL EQUITY | $1.7B |
| TOTAL LIABILITIES & EQUITY | $3.4B |
| Total Debt | $1.2B |
| Net Debt | $729M |
