| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $2.2B | $2.3B | $2.3B | -3.4% | -1.4% |
| Op. Income | -$100M | -$100M | $16M | 0.0% | -725.0% |
| Gross Margin | 45.2% | 45.1% | 26.1% | 0.1pp | 19.1pp |
| Net Margin | -7.9% | -6.2% | -1.9% | -1.7pp | -6.0pp |
| EPS (Diluted) | $-0.48 | $-0.39 | $-0.13 | -23.1% | -269.2% |
| Free Cash Flow | -$296M | -$423M | -$434M | 30.0% | 31.8% |
| Item | Amount |
|---|---|
| REVENUE | $2.2B |
| Cost of Revenue | $1.2B |
| GROSS PROFIT | $1.0B |
| R&D Expenses | $0 |
| Selling & Marketing | $80M |
| General & Administrative | $0 |
| SG&A Expenses | $80M |
| Other Expenses | $1.0B |
| Operating Expenses | $1.1B |
| Cost & Expenses | $2.3B |
| OPERATING INCOME | -$100M |
| Interest Income | $26M |
| Interest Expense | $147M |
| Other Income/Expenses | -$113M |
| INCOME BEFORE TAX | -$213M |
| Income Tax Expense | -$36M |
| Net Income from Continuing Ops | -$177M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$177M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$177M |
| D&A | $176M |
| EBIT | -$66M |
| EBITDA | $110M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$177M |
| Depreciation & Amortization | $176M |
| Stock-Based Compensation | $8M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$63M |
| Change in Working Capital | $105M |
| OPERATING CASH FLOW | $49M |
| Capital Expenditure | -$345M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $42M |
| NET CASH FROM INVESTING | -$303M |
| Net Debt Issuance | -$122M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | -$100M |
| FREE CASH FLOW | -$296M |
| Net Change in Cash | -$364M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $2.0B |
| Short-Term Investments | $213M |
| Net Receivables | $372M |
| Inventory | $193M |
| Other Current Assets | $138M |
| TOTAL CURRENT ASSETS | $3.2B |
| PP&E (Net) | $11.9B |
| Goodwill | $0 |
| Intangible Assets | $415M |
| Long-Term Investments | $676M |
| Tax Assets | $0 |
| Other Non-Current Assets | $2.4B |
| TOTAL NON-CURRENT ASSETS | $15.4B |
| TOTAL ASSETS | $18.6B |
| Account Payables | $655M |
| Short-Term Debt | $690M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $1.7B |
| TOTAL CURRENT LIABILITIES | $4.4B |
| Long-Term Debt | $8.2B |
| Deferred Revenue NC | $704M |
| Deferred Tax Liabilities | $2.5B |
| Other Non-Current Liabilities | -$510M |
| TOTAL NON-CURRENT LIABILITIES | $12.1B |
| TOTAL LIABILITIES | $16.5B |
| Common Stock | $5M |
| Additional Paid-In Capital | $3.4B |
| Retained Earnings | $717M |
| Treasury Stock | -$2.0B |
| Accum. Other Comp. Income | -$1M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $2.1B |
| Minority Interest | $0 |
| TOTAL EQUITY | $2.1B |
| TOTAL LIABILITIES & EQUITY | $18.6B |
| Total Debt | $10.3B |
| Net Debt | $8.2B |
