| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $1.1B | $903M | — | 19.8% | — |
| Op. Income | -$11M | -$83M | — | 86.7% | — |
| Gross Margin | 57.0% | 56.1% | — | 0.9pp | — |
| Net Margin | -4.3% | -10.5% | — | 6.2pp | — |
| EPS (Diluted) | $-0.12 | $-0.26 | — | 53.8% | — |
| Free Cash Flow | -$3.0B | $472M | — | -744.1% | — |
| Item | Amount |
|---|---|
| REVENUE | $1.1B |
| Cost of Revenue | $465M |
| GROSS PROFIT | $617M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $628M |
| Other Expenses | $0 |
| Operating Expenses | $628M |
| Cost & Expenses | $1.1B |
| OPERATING INCOME | -$11M |
| Interest Income | $0 |
| Interest Expense | $0 |
| Other Income/Expenses | -$6M |
| INCOME BEFORE TAX | -$17M |
| Income Tax Expense | $10M |
| Net Income from Continuing Ops | -$27M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$47M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$47M |
| D&A | $23M |
| EBIT | -$11M |
| EBITDA | $12M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$47M |
| Depreciation & Amortization | $23M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $815M |
| Change in Working Capital | -$3.8B |
| OPERATING CASH FLOW | -$3.0B |
| Capital Expenditure | -$2M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$8M |
| Net Debt Issuance | $32M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$6M |
| NET CASH FROM FINANCING | $25M |
| FREE CASH FLOW | -$3.0B |
| Net Change in Cash | -$3.0B |
| Item | Amount |
|---|---|
| Cash & Equivalents | $3.8B |
| Short-Term Investments | $0 |
| Net Receivables | $11.8B |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $15.6B |
| PP&E (Net) | $60M |
| Goodwill | $685M |
| Intangible Assets | $383M |
| Long-Term Investments | $1.5B |
| Tax Assets | $36M |
| Other Non-Current Assets | $487M |
| TOTAL NON-CURRENT ASSETS | $3.2B |
| TOTAL ASSETS | $18.8B |
| Account Payables | $1.4B |
| Short-Term Debt | $1.4B |
| Deferred Revenue | $0 |
| Other Current Liabilities | $13.4B |
| TOTAL CURRENT LIABILITIES | $16.1B |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $0 |
| TOTAL NON-CURRENT LIABILITIES | $0 |
| TOTAL LIABILITIES | $16.1B |
| Common Stock | $0 |
| Additional Paid-In Capital | $427M |
| Retained Earnings | $2.2B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$90M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $2.5B |
| Minority Interest | $177M |
| TOTAL EQUITY | $2.7B |
| TOTAL LIABILITIES & EQUITY | $18.8B |
| Total Debt | $1.4B |
| Net Debt | -$2.4B |
