| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $755M | $1.2B | $657M | -37.3% | 14.9% |
| Op. Income | $65M | $215M | $44M | -69.7% | 48.1% |
| Gross Margin | 19.2% | 23.8% | 17.4% | -4.5pp | 1.9pp |
| Net Margin | 4.2% | 11.9% | 3.5% | -7.7pp | 0.7pp |
| EPS (Diluted) | $0.56 | $2.52 | $0.41 | -77.8% | 36.6% |
| Free Cash Flow | $138M | $189M | $127M | -26.8% | 8.6% |
| Item | Amount |
|---|---|
| REVENUE | $755M |
| Cost of Revenue | $610M |
| GROSS PROFIT | $145M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $80M |
| Other Expenses | $0 |
| Operating Expenses | $80M |
| Cost & Expenses | $690M |
| OPERATING INCOME | $65M |
| Interest Income | $0 |
| Interest Expense | $21M |
| Other Income/Expenses | -$20M |
| INCOME BEFORE TAX | $45M |
| Income Tax Expense | $13M |
| Net Income from Continuing Ops | $32M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $32M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $32M |
| D&A | $51M |
| EBIT | $67M |
| EBITDA | $118M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| REVENUE | $755M |
| Cost of Revenue | $610M |
| GROSS PROFIT | $145M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $80M |
| Other Expenses | $0 |
| Operating Expenses | $80M |
| Cost & Expenses | $690M |
| OPERATING INCOME | $65M |
| Interest Income | $0 |
| Interest Expense | $21M |
| Other Income/Expenses | -$20M |
| INCOME BEFORE TAX | $45M |
| Income Tax Expense | $13M |
| Net Income from Continuing Ops | $32M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $32M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $32M |
| D&A | $51M |
| EBIT | $67M |
| EBITDA | $118M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $32M |
| Depreciation & Amortization | $51M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $17M |
| Change in Working Capital | $96M |
| OPERATING CASH FLOW | $196M |
| Capital Expenditure | -$58M |
| Acquisitions (Net) | -$73M |
| Purchases of Investments | -$114.0K |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$131M |
| Net Debt Issuance | -$23M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $53.0K |
| NET CASH FROM FINANCING | -$23M |
| FREE CASH FLOW | $138M |
| Net Change in Cash | $42M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $123M |
| Short-Term Investments | $0 |
| Net Receivables | $278M |
| Inventory | $436M |
| Other Current Assets | $124M |
| TOTAL CURRENT ASSETS | $961M |
| PP&E (Net) | $2.1B |
| Goodwill | $520M |
| Intangible Assets | $33M |
| Long-Term Investments | $55M |
| Tax Assets | $0 |
| Other Non-Current Assets | $0 |
| TOTAL NON-CURRENT ASSETS | $2.7B |
| TOTAL ASSETS | $3.7B |
| Account Payables | $146M |
| Short-Term Debt | $28M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $194M |
| TOTAL CURRENT LIABILITIES | $378M |
| Long-Term Debt | $1.2B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $288M |
| Other Non-Current Liabilities | $116M |
| TOTAL NON-CURRENT LIABILITIES | $1.6B |
| TOTAL LIABILITIES | $2.0B |
| Common Stock | $600.0K |
| Additional Paid-In Capital | $630M |
| Retained Earnings | $1.0B |
| Treasury Stock | -$4M |
| Accum. Other Comp. Income | -$10M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $1.6B |
| Minority Interest | $0 |
| TOTAL EQUITY | $1.6B |
| TOTAL LIABILITIES & EQUITY | $3.7B |
| Total Debt | $1.3B |
| Net Debt | $1.1B |
