| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $3.5B | — | $3.3B | — | 7.9% |
| Op. Income | $137M | — | $101M | — | 35.6% |
| Gross Margin | 12.1% | — | 12.3% | — | -0.2pp |
| Net Margin | 1.2% | — | 3.1% | — | -1.9pp |
| EPS (Diluted) | $0.37 | — | $0.83 | — | -55.4% |
| Free Cash Flow | $115M | — | $82M | — | 40.2% |
| Item | Amount |
|---|---|
| REVENUE | $3.5B |
| Cost of Revenue | $3.1B |
| GROSS PROFIT | $425M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $288.0K |
| Other Expenses | $288M |
| Operating Expenses | $288M |
| Cost & Expenses | $3.4B |
| OPERATING INCOME | $137M |
| Interest Income | $0 |
| Interest Expense | $30M |
| Other Income/Expenses | -$71M |
| INCOME BEFORE TAX | $66M |
| Income Tax Expense | $23M |
| Net Income from Continuing Ops | $43M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $43M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $43M |
| D&A | $120M |
| EBIT | $96M |
| EBITDA | $216M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $3.5B |
| Cost of Revenue | $3.1B |
| GROSS PROFIT | $425M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $288.0K |
| Other Expenses | $288M |
| Operating Expenses | $288M |
| Cost & Expenses | $3.4B |
| OPERATING INCOME | $137M |
| Interest Income | $0 |
| Interest Expense | $30M |
| Other Income/Expenses | -$71M |
| INCOME BEFORE TAX | $66M |
| Income Tax Expense | $23M |
| Net Income from Continuing Ops | $43M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $43M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $43M |
| D&A | $120M |
| EBIT | $96M |
| EBITDA | $216M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $43M |
| Depreciation & Amortization | $120M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | -$5M |
| Other Non-Cash Items | $37M |
| Change in Working Capital | -$25M |
| OPERATING CASH FLOW | $170M |
| Capital Expenditure | -$55M |
| Acquisitions (Net) | $48M |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$20M |
| NET CASH FROM INVESTING | -$27M |
| Net Debt Issuance | $556M |
| Common Stock Repurchased | -$1M |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$178M |
| NET CASH FROM FINANCING | $377M |
| FREE CASH FLOW | $115M |
| Net Change in Cash | $515M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $854M |
| Short-Term Investments | $0 |
| Net Receivables | $2.0B |
| Inventory | $0 |
| Other Current Assets | $406M |
| TOTAL CURRENT ASSETS | $3.3B |
| PP&E (Net) | $3.7B |
| Goodwill | $3.3B |
| Intangible Assets | $1.4B |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $570M |
| TOTAL NON-CURRENT ASSETS | $9.0B |
| TOTAL ASSETS | $12.3B |
| Account Payables | $758M |
| Short-Term Debt | $1.2B |
| Deferred Revenue | $0 |
| Other Current Liabilities | $1.9B |
| TOTAL CURRENT LIABILITIES | $3.9B |
| Long-Term Debt | $4.7B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | -$1.3B |
| TOTAL NON-CURRENT LIABILITIES | $5.4B |
| TOTAL LIABILITIES | $9.2B |
| Common Stock | $1M |
| Additional Paid-In Capital | $2.7B |
| Retained Earnings | $718M |
| Treasury Stock | -$202M |
| Accum. Other Comp. Income | -$201M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $3.0B |
| Minority Interest | $32M |
| TOTAL EQUITY | $3.0B |
| TOTAL LIABILITIES & EQUITY | $12.3B |
| Total Debt | $7.9B |
| Net Debt | $7.0B |
