| Metric | Q1 2026 | Q4 2025 | Q1 2025 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $240M | — | $54M | — | 341.8% |
| Op. Income | -$76M | — | -$54M | — | -41.9% |
| Gross Margin | 62.9% | — | 85.8% | — | -22.9pp |
| Net Margin | 160.1% | — | -95.1% | — | 255.1pp |
| EPS (Diluted) | $1.08 | — | $-0.27 | — | 500.0% |
| Free Cash Flow | -$138M | — | -$387M | — | 64.3% |
| Item | Amount |
|---|---|
| REVENUE | $240M |
| Cost of Revenue | $89M |
| GROSS PROFIT | $151M |
| R&D Expenses | $0 |
| Selling & Marketing | $3M |
| General & Administrative | $124M |
| SG&A Expenses | $127M |
| Other Expenses | $101M |
| Operating Expenses | $228M |
| Cost & Expenses | $317M |
| OPERATING INCOME | -$76M |
| Interest Income | $7M |
| Interest Expense | $9M |
| Other Income/Expenses | $652M |
| INCOME BEFORE TAX | $575M |
| Income Tax Expense | $191M |
| Net Income from Continuing Ops | $385M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $385M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $385M |
| D&A | $85M |
| EBIT | $585M |
| EBITDA | $670M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $385M |
| Depreciation & Amortization | $85M |
| Stock-Based Compensation | $72M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$639M |
| Change in Working Capital | $240M |
| OPERATING CASH FLOW | $142M |
| Capital Expenditure | -$281M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$266.0K |
| NET CASH FROM INVESTING | -$281M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $606M |
| FREE CASH FLOW | -$138M |
| Net Change in Cash | $468M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $1.0B |
| Short-Term Investments | $0 |
| Net Receivables | $35M |
| Inventory | $0 |
| Other Current Assets | $3M |
| TOTAL CURRENT ASSETS | $1.1B |
| PP&E (Net) | $2.1B |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $996M |
| Tax Assets | $0 |
| Other Non-Current Assets | $31M |
| TOTAL NON-CURRENT ASSETS | $3.1B |
| TOTAL ASSETS | $4.3B |
| Account Payables | $71M |
| Short-Term Debt | $0 |
| Deferred Revenue | $1M |
| Other Current Liabilities | $10M |
| TOTAL CURRENT LIABILITIES | $204M |
| Long-Term Debt | $964M |
| Deferred Revenue NC | $22M |
| Deferred Tax Liabilities | $195M |
| Other Non-Current Liabilities | $5M |
| TOTAL NON-CURRENT LIABILITIES | $1.2B |
| TOTAL LIABILITIES | $1.4B |
| Common Stock | $3.0B |
| Additional Paid-In Capital | $158M |
| Retained Earnings | -$212M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$36M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $2.9B |
| Minority Interest | $0 |
| TOTAL EQUITY | $2.9B |
| TOTAL LIABILITIES & EQUITY | $4.3B |
| Total Debt | $966M |
| Net Debt | -$67M |
