| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $410M | $304M | $245M | 34.7% | 67.1% |
| Op. Income | $149M | $94M | $22M | 58.5% | 561.4% |
| Gross Margin | 44.1% | 39.3% | 24.2% | 4.8pp | 19.9pp |
| Net Margin | 24.6% | 19.0% | 0.7% | 5.6pp | 23.9pp |
| EPS (Diluted) | $0.15 | $0.09 | $0.04 | 66.7% | 280.7% |
| Free Cash Flow | $90M | $162M | -$690.0K | -44.3% | 13164.3% |
| Item | Amount |
|---|---|
| REVENUE | $410M |
| Cost of Revenue | $229M |
| GROSS PROFIT | $180M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $14M |
| SG&A Expenses | $14M |
| Other Expenses | $18M |
| Operating Expenses | $32M |
| Cost & Expenses | $261M |
| OPERATING INCOME | $149M |
| Interest Income | $0 |
| Interest Expense | $13M |
| Other Income/Expenses | $7M |
| INCOME BEFORE TAX | $156M |
| Income Tax Expense | $55M |
| Net Income from Continuing Ops | $101M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $101M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $101M |
| D&A | $49M |
| EBIT | $169M |
| EBITDA | $218M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $410M |
| Cost of Revenue | $229M |
| GROSS PROFIT | $180M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $14M |
| SG&A Expenses | $14M |
| Other Expenses | $18M |
| Operating Expenses | $32M |
| Cost & Expenses | $261M |
| OPERATING INCOME | $149M |
| Interest Income | $0 |
| Interest Expense | $13M |
| Other Income/Expenses | $7M |
| INCOME BEFORE TAX | $156M |
| Income Tax Expense | $55M |
| Net Income from Continuing Ops | $101M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $101M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $101M |
| D&A | $49M |
| EBIT | $169M |
| EBITDA | $218M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $101M |
| Depreciation & Amortization | $49M |
| Stock-Based Compensation | $3M |
| Deferred Income Tax | $45M |
| Other Non-Cash Items | -$11M |
| Change in Working Capital | -$38M |
| OPERATING CASH FLOW | $148M |
| Capital Expenditure | -$58M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $586.0K |
| NET CASH FROM INVESTING | -$57M |
| Net Debt Issuance | -$293M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | -$3M |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | -$253M |
| FREE CASH FLOW | $90M |
| Net Change in Cash | -$163M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $134M |
| Short-Term Investments | $0 |
| Net Receivables | $123M |
| Inventory | $115M |
| Other Current Assets | $15M |
| TOTAL CURRENT ASSETS | $388M |
| PP&E (Net) | $2.7B |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $69M |
| Tax Assets | $0 |
| Other Non-Current Assets | $24M |
| TOTAL NON-CURRENT ASSETS | $2.8B |
| TOTAL ASSETS | $3.2B |
| Account Payables | $99M |
| Short-Term Debt | $10M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $25M |
| TOTAL CURRENT LIABILITIES | $180M |
| Long-Term Debt | $253M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $197M |
| Other Non-Current Liabilities | $116M |
| TOTAL NON-CURRENT LIABILITIES | $592M |
| TOTAL LIABILITIES | $772M |
| Common Stock | $170M |
| Additional Paid-In Capital | $2.6B |
| Retained Earnings | -$314M |
| Treasury Stock | -$36M |
| Accum. Other Comp. Income | -$9M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $2.4B |
| Minority Interest | $0 |
| TOTAL EQUITY | $2.4B |
| TOTAL LIABILITIES & EQUITY | $3.2B |
| Total Debt | $290M |
| Net Debt | $156M |
