| Metric | Q4 2026 | Q3 2026 | Q4 2025 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $4.5B | $6.2B | $6.5B | -27.5% | -30.1% |
| Op. Income | -$339M | $82M | $152M | -511.6% | -323.8% |
| Gross Margin | 9.3% | 10.6% | 11.8% | -1.3pp | -2.5pp |
| Net Margin | -2.7% | 1.0% | 1.4% | -3.7pp | -4.1pp |
| EPS (Diluted) | $-0.77 | $0.43 | $0.58 | -279.1% | -232.8% |
| Free Cash Flow | -$687M | $1.1B | $19M | -161.7% | -3763.6% |
| Item | Amount |
|---|---|
| REVENUE | $4.5B |
| Cost of Revenue | $4.1B |
| GROSS PROFIT | $420M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $611M |
| SG&A Expenses | $611M |
| Other Expenses | $148M |
| Operating Expenses | $760M |
| Cost & Expenses | $4.9B |
| OPERATING INCOME | -$339M |
| Interest Income | $0 |
| Interest Expense | $29M |
| Other Income/Expenses | $229M |
| INCOME BEFORE TAX | -$111M |
| Income Tax Expense | $10M |
| Net Income from Continuing Ops | -$121M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$121M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$121M |
| D&A | $8M |
| EBIT | -$81M |
| EBITDA | -$73M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$121M |
| Depreciation & Amortization | $94M |
| Stock-Based Compensation | $12M |
| Deferred Income Tax | -$3M |
| Other Non-Cash Items | $123M |
| Change in Working Capital | -$659M |
| OPERATING CASH FLOW | -$554M |
| Capital Expenditure | -$133M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$1M |
| Sales/Maturities of Investments | $1M |
| Other Investing Activities | $4M |
| NET CASH FROM INVESTING | -$129M |
| Net Debt Issuance | $711M |
| Common Stock Repurchased | -$54M |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$32M |
| NET CASH FROM FINANCING | $633M |
| FREE CASH FLOW | -$687M |
| Net Change in Cash | -$50M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $123M |
| Short-Term Investments | $0 |
| Net Receivables | $204M |
| Inventory | $4.1B |
| Other Current Assets | $846M |
| TOTAL CURRENT ASSETS | $5.3B |
| PP&E (Net) | $4.1B |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $78M |
| Other Non-Current Assets | $16.9B |
| TOTAL NON-CURRENT ASSETS | $21.1B |
| TOTAL ASSETS | $26.4B |
| Account Payables | $1.1B |
| Short-Term Debt | $762M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $57M |
| TOTAL CURRENT LIABILITIES | $2.4B |
| Long-Term Debt | $2.0B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $16.1B |
| TOTAL NON-CURRENT LIABILITIES | $18.1B |
| TOTAL LIABILITIES | $20.5B |
| Common Stock | $71M |
| Additional Paid-In Capital | $1.8B |
| Retained Earnings | $4.0B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$34M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $5.9B |
| Minority Interest | $0 |
| TOTAL EQUITY | $5.9B |
| TOTAL LIABILITIES & EQUITY | $26.4B |
| Total Debt | $2.8B |
| Net Debt | $2.6B |
