| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $2.3B | $2.4B | $2.4B | -1.4% | -1.8% |
| Op. Income | -$100M | $6M | -$38M | -1766.7% | -163.2% |
| Gross Margin | 45.1% | 25.9% | 25.2% | 19.2pp | 19.8pp |
| Net Margin | -6.2% | -3.1% | -2.5% | -3.0pp | -3.6pp |
| EPS (Diluted) | $-0.39 | $-0.20 | $-0.17 | -95.0% | -129.4% |
| Free Cash Flow | -$423M | -$234M | -$314M | -80.8% | -34.7% |
| Item | Amount |
|---|---|
| REVENUE | $2.3B |
| Cost of Revenue | $1.3B |
| GROSS PROFIT | $1.0B |
| R&D Expenses | $0 |
| Selling & Marketing | $78M |
| General & Administrative | $0 |
| SG&A Expenses | $78M |
| Other Expenses | $1.1B |
| Operating Expenses | $1.1B |
| Cost & Expenses | $2.4B |
| OPERATING INCOME | -$100M |
| Interest Income | $30M |
| Interest Expense | $144M |
| Other Income/Expenses | -$96M |
| INCOME BEFORE TAX | -$196M |
| Income Tax Expense | -$53M |
| Net Income from Continuing Ops | -$143M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$143M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$143M |
| D&A | $173M |
| EBIT | -$52M |
| EBITDA | $121M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$143M |
| Depreciation & Amortization | $173M |
| Stock-Based Compensation | $10M |
| Deferred Income Tax | -$58M |
| Other Non-Cash Items | -$48M |
| Change in Working Capital | -$76M |
| OPERATING CASH FLOW | -$142M |
| Capital Expenditure | -$281M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$70M |
| Sales/Maturities of Investments | $815M |
| Other Investing Activities | -$201M |
| NET CASH FROM INVESTING | $532M |
| Net Debt Issuance | -$111M |
| Common Stock Repurchased | $8M |
| Common Dividends Paid | $0 |
| Other Financing Activities | $22M |
| NET CASH FROM FINANCING | -$111M |
| FREE CASH FLOW | -$423M |
| Net Change in Cash | $279M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $2.4B |
| Short-Term Investments | $211M |
| Net Receivables | $348M |
| Inventory | $183M |
| Other Current Assets | $263M |
| TOTAL CURRENT ASSETS | $3.4B |
| PP&E (Net) | $11.9B |
| Goodwill | $0 |
| Intangible Assets | $413M |
| Long-Term Investments | $272M |
| Tax Assets | $0 |
| Other Non-Current Assets | $631M |
| TOTAL NON-CURRENT ASSETS | $13.2B |
| TOTAL ASSETS | $16.6B |
| Account Payables | $589M |
| Short-Term Debt | $703M |
| Deferred Revenue | $1.7B |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $4.2B |
| Long-Term Debt | $7.8B |
| Deferred Revenue NC | $679M |
| Deferred Tax Liabilities | $486M |
| Other Non-Current Liabilities | $340M |
| TOTAL NON-CURRENT LIABILITIES | $10.1B |
| TOTAL LIABILITIES | $14.3B |
| Common Stock | $5M |
| Additional Paid-In Capital | $3.4B |
| Retained Earnings | $894M |
| Treasury Stock | -$2.0B |
| Accum. Other Comp. Income | $2M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $2.3B |
| Minority Interest | $0 |
| TOTAL EQUITY | $2.3B |
| TOTAL LIABILITIES & EQUITY | $16.6B |
| Total Debt | $9.4B |
| Net Debt | $7.0B |
