| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $268M | $196M | $195M | 36.4% | 37.6% |
| Op. Income | $132M | $108M | $45M | 22.9% | 193.8% |
| Gross Margin | 54.3% | 60.9% | 35.5% | -6.6pp | 18.8pp |
| Net Margin | 47.6% | 35.9% | 18.4% | 11.7pp | 29.2pp |
| EPS (Diluted) | $2.56 | $1.42 | $0.72 | 80.3% | 255.6% |
| Free Cash Flow | -$7M | -$9M | $26M | 28.4% | -126.0% |
| Item | Amount |
|---|---|
| REVENUE | $268M |
| Cost of Revenue | $122M |
| GROSS PROFIT | $145M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $13M |
| Other Expenses | $0 |
| Operating Expenses | $13M |
| Cost & Expenses | $136M |
| OPERATING INCOME | $132M |
| Interest Income | $0 |
| Interest Expense | $11M |
| Other Income/Expenses | -$5M |
| INCOME BEFORE TAX | $127M |
| Income Tax Expense | -$411.0K |
| 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 | $41M |
| EBIT | $138M |
| EBITDA | $180M |
| EPS | $3 |
| EPS Diluted | $3 |
| Item | Amount |
|---|---|
| REVENUE | $268M |
| Cost of Revenue | $122M |
| GROSS PROFIT | $145M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $13M |
| Other Expenses | $0 |
| Operating Expenses | $13M |
| Cost & Expenses | $136M |
| OPERATING INCOME | $132M |
| Interest Income | $0 |
| Interest Expense | $11M |
| Other Income/Expenses | -$5M |
| INCOME BEFORE TAX | $127M |
| Income Tax Expense | -$411.0K |
| 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 | $41M |
| EBIT | $138M |
| EBITDA | $180M |
| EPS | $3 |
| EPS Diluted | $3 |
| Item | Amount |
|---|---|
| Net Income | $128M |
| Depreciation & Amortization | $41M |
| Stock-Based Compensation | $3M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$25M |
| Change in Working Capital | -$1M |
| OPERATING CASH FLOW | $146M |
| Capital Expenditure | -$153M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$83M |
| NET CASH FROM INVESTING | -$167M |
| Net Debt Issuance | -$231M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | -$42M |
| Other Financing Activities | -$1M |
| NET CASH FROM FINANCING | -$275M |
| FREE CASH FLOW | -$7M |
| Net Change in Cash | -$296M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $117M |
| Short-Term Investments | $50M |
| Net Receivables | $192M |
| Inventory | $611.0K |
| Other Current Assets | $8M |
| TOTAL CURRENT ASSETS | $367M |
| PP&E (Net) | $2.1B |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $216M |
| TOTAL NON-CURRENT ASSETS | $2.3B |
| TOTAL ASSETS | $2.7B |
| Account Payables | $55M |
| Short-Term Debt | $29M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $15M |
| TOTAL CURRENT LIABILITIES | $99M |
| Long-Term Debt | $541M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $2M |
| TOTAL NON-CURRENT LIABILITIES | $549M |
| TOTAL LIABILITIES | $648M |
| Common Stock | $1.5B |
| Additional Paid-In Capital | $0 |
| Retained Earnings | $524M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$11M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $2.0B |
| Minority Interest | $0 |
| TOTAL EQUITY | $2.0B |
| TOTAL LIABILITIES & EQUITY | $2.7B |
| Total Debt | $576M |
| Net Debt | $459M |
