| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $429M | — | $584M | — | -26.6% |
| Op. Income | -$27M | — | -$41M | — | 32.9% |
| Gross Margin | -13.6% | — | 1.1% | — | -14.6pp |
| Net Margin | 2.8% | — | -9.4% | — | 12.2pp |
| EPS (Diluted) | $0.17 | — | $-0.86 | — | 119.8% |
| Free Cash Flow | $53M | — | -$54M | — | 197.3% |
| Item | Amount |
|---|---|
| REVENUE | $429M |
| Cost of Revenue | $487M |
| GROSS PROFIT | -$58M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $23M |
| Other Expenses | -$54M |
| Operating Expenses | -$31M |
| Cost & Expenses | $456M |
| OPERATING INCOME | -$27M |
| Interest Income | $1M |
| Interest Expense | $6M |
| Other Income/Expenses | $12M |
| INCOME BEFORE TAX | -$16M |
| Income Tax Expense | -$29M |
| Net Income from Continuing Ops | $13M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $12M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $12M |
| D&A | $27M |
| EBIT | -$10M |
| EBITDA | $17M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $12M |
| Depreciation & Amortization | $24M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | -$32M |
| Other Non-Cash Items | $4M |
| Change in Working Capital | $51M |
| OPERATING CASH FLOW | $58M |
| Capital Expenditure | -$5M |
| Acquisitions (Net) | -$4M |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $832.0K |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$9M |
| Net Debt Issuance | $619.0K |
| Common Stock Repurchased | -$30M |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$1M |
| NET CASH FROM FINANCING | -$31M |
| FREE CASH FLOW | $53M |
| Net Change in Cash | $19M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $182M |
| Short-Term Investments | $0 |
| Net Receivables | $74M |
| Inventory | $148M |
| Other Current Assets | $77M |
| TOTAL CURRENT ASSETS | $482M |
| PP&E (Net) | $1.0B |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $34M |
| Other Non-Current Assets | $41M |
| TOTAL NON-CURRENT ASSETS | $1.1B |
| TOTAL ASSETS | $1.6B |
| Account Payables | $135M |
| Short-Term Debt | $38M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $75M |
| TOTAL CURRENT LIABILITIES | $269M |
| Long-Term Debt | $406M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $88M |
| TOTAL NON-CURRENT LIABILITIES | $538M |
| TOTAL LIABILITIES | $806M |
| Common Stock | $76.0K |
| Additional Paid-In Capital | $1.3B |
| Retained Earnings | -$440M |
| Treasury Stock | -$61M |
| Accum. Other Comp. Income | -$618.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $766M |
| Minority Interest | $6M |
| TOTAL EQUITY | $772M |
| TOTAL LIABILITIES & EQUITY | $1.6B |
| Total Debt | $508M |
| Net Debt | $326M |
