| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $334M | $377M | $355M | -11.4% | -5.9% |
| Op. Income | $12M | $48M | $31M | -74.4% | -60.3% |
| Gross Margin | 15.2% | 17.5% | 16.6% | -2.4pp | -1.4pp |
| Net Margin | 2.5% | 5.9% | 5.7% | -3.4pp | -3.2pp |
| EPS (Diluted) | $0.06 | $0.15 | $0.13 | -60.0% | -53.8% |
| Free Cash Flow | $107M | $23M | $65M | 375.7% | 64.2% |
| Item | Amount |
|---|---|
| REVENUE | $334M |
| Cost of Revenue | $284M |
| GROSS PROFIT | $51M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $20M |
| Other Expenses | $18M |
| Operating Expenses | $38M |
| Cost & Expenses | $322M |
| OPERATING INCOME | $12M |
| Interest Income | $0 |
| Interest Expense | $6M |
| Other Income/Expenses | -$6M |
| INCOME BEFORE TAX | $6M |
| Income Tax Expense | -$2M |
| Net Income from Continuing Ops | $8M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $8M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $8M |
| D&A | $44M |
| EBIT | $12M |
| EBITDA | $56M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $334M |
| Cost of Revenue | $284M |
| GROSS PROFIT | $51M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $20M |
| Other Expenses | $18M |
| Operating Expenses | $38M |
| Cost & Expenses | $322M |
| OPERATING INCOME | $12M |
| Interest Income | $0 |
| Interest Expense | $6M |
| Other Income/Expenses | -$6M |
| INCOME BEFORE TAX | $6M |
| Income Tax Expense | -$2M |
| Net Income from Continuing Ops | $8M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $8M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $8M |
| D&A | $44M |
| EBIT | $12M |
| EBITDA | $56M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $8M |
| Depreciation & Amortization | $34M |
| Stock-Based Compensation | $2M |
| Deferred Income Tax | -$12M |
| Other Non-Cash Items | $26M |
| Change in Working Capital | $55M |
| OPERATING CASH FLOW | $113M |
| Capital Expenditure | -$6M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$6M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$138.0K |
| NET CASH FROM FINANCING | -$138.0K |
| FREE CASH FLOW | $107M |
| Net Change in Cash | $107M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $445M |
| Short-Term Investments | $0 |
| Net Receivables | $322M |
| Inventory | $0 |
| Other Current Assets | $10M |
| TOTAL CURRENT ASSETS | $806M |
| PP&E (Net) | $1.7B |
| Goodwill | $0 |
| Intangible Assets | $3M |
| Long-Term Investments | $27M |
| Tax Assets | $82M |
| Other Non-Current Assets | $114M |
| TOTAL NON-CURRENT ASSETS | $1.9B |
| TOTAL ASSETS | $2.7B |
| Account Payables | $134M |
| Short-Term Debt | $70M |
| Deferred Revenue | $17M |
| Other Current Liabilities | $32M |
| TOTAL CURRENT LIABILITIES | $300M |
| Long-Term Debt | $298M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $187M |
| Other Non-Current Liabilities | $71M |
| TOTAL NON-CURRENT LIABILITIES | $818M |
| TOTAL LIABILITIES | $1.1B |
| Common Stock | $1.2B |
| Additional Paid-In Capital | $0 |
| Retained Earnings | $399M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$37M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $1.6B |
| Minority Interest | $0 |
| TOTAL EQUITY | $1.6B |
| TOTAL LIABILITIES & EQUITY | $2.7B |
| Total Debt | $630M |
| Net Debt | $185M |
