| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $1.1B | $821M | $1.3B | 34.5% | -13.9% |
| Op. Income | $145M | $41M | $80M | 250.8% | 81.6% |
| Gross Margin | 35.0% | 33.3% | 28.3% | 1.7pp | 6.7pp |
| Net Margin | 11.6% | 9.4% | 10.2% | 2.2pp | 1.3pp |
| EPS (Diluted) | $0.24 | $0.13 | $0.29 | 84.6% | -17.2% |
| Free Cash Flow | $187M | $107M | $159M | 75.1% | 18.0% |
| Item | Amount |
|---|---|
| REVENUE | $1.1B |
| Cost of Revenue | $718M |
| GROSS PROFIT | $387M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $242M |
| Other Expenses | $0 |
| Operating Expenses | $242M |
| Cost & Expenses | $959M |
| OPERATING INCOME | $145M |
| Interest Income | $86M |
| Interest Expense | $0 |
| Other Income/Expenses | -$68M |
| INCOME BEFORE TAX | $77M |
| Income Tax Expense | -$51M |
| Net Income from Continuing Ops | $128M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $128M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $128M |
| D&A | $5M |
| EBIT | $145M |
| EBITDA | $150M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $1.1B |
| Cost of Revenue | $718M |
| GROSS PROFIT | $387M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $242M |
| Other Expenses | $0 |
| Operating Expenses | $242M |
| Cost & Expenses | $959M |
| OPERATING INCOME | $145M |
| Interest Income | $86M |
| Interest Expense | $0 |
| Other Income/Expenses | -$68M |
| INCOME BEFORE TAX | $77M |
| Income Tax Expense | -$51M |
| Net Income from Continuing Ops | $128M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $128M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $128M |
| D&A | $5M |
| EBIT | $145M |
| EBITDA | $150M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $128M |
| Depreciation & Amortization | $5M |
| Stock-Based Compensation | -$500.0K |
| Deferred Income Tax | -$67M |
| Other Non-Cash Items | $157M |
| Change in Working Capital | -$29M |
| OPERATING CASH FLOW | $194M |
| Capital Expenditure | -$6M |
| Acquisitions (Net) | $3M |
| Purchases of Investments | -$1.2B |
| Sales/Maturities of Investments | $3M |
| Other Investing Activities | -$10M |
| NET CASH FROM INVESTING | -$1.7B |
| Net Debt Issuance | -$4M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | -$4M |
| FREE CASH FLOW | $187M |
| Net Change in Cash | -$1.5B |
| Item | Amount |
|---|---|
| Cash & Equivalents | $6.3B |
| Short-Term Investments | $2.7B |
| Net Receivables | $45M |
| Inventory | $403M |
| Other Current Assets | $550M |
| TOTAL CURRENT ASSETS | $10.0B |
| PP&E (Net) | $232M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $20M |
| Tax Assets | $148M |
| Other Non-Current Assets | $39M |
| TOTAL NON-CURRENT ASSETS | $438M |
| TOTAL ASSETS | $10.4B |
| Account Payables | $147M |
| Short-Term Debt | $88M |
| Deferred Revenue | $91M |
| Other Current Liabilities | $278M |
| TOTAL CURRENT LIABILITIES | $655M |
| Long-Term Debt | $4.2B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $61M |
| Other Non-Current Liabilities | $15M |
| TOTAL NON-CURRENT LIABILITIES | $4.4B |
| TOTAL LIABILITIES | $5.0B |
| Common Stock | $200.0K |
| Additional Paid-In Capital | $5.3B |
| Retained Earnings | $205M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$66M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $5.4B |
| Minority Interest | $0 |
| TOTAL EQUITY | $5.4B |
| TOTAL LIABILITIES & EQUITY | $10.4B |
| Total Debt | $4.4B |
| Net Debt | -$1.9B |
