| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $400M | $524M | $369M | -23.6% | 8.6% |
| Op. Income | $71M | $193M | $72M | -63.0% | -0.8% |
| Gross Margin | 20.9% | 39.5% | 22.4% | -18.5pp | -1.5pp |
| Net Margin | 8.6% | 18.1% | 23.2% | -9.5pp | -14.6pp |
| EPS (Diluted) | $0.23 | $0.65 | $0.56 | -64.6% | -58.9% |
| Free Cash Flow | $123M | $61M | $111M | 102.0% | 10.9% |
| Item | Amount |
|---|---|
| REVENUE | $400M |
| Cost of Revenue | $317M |
| GROSS PROFIT | $84M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $12M |
| SG&A Expenses | $12M |
| Other Expenses | $0 |
| Operating Expenses | $12M |
| Cost & Expenses | $329M |
| OPERATING INCOME | $71M |
| Interest Income | $2M |
| Interest Expense | $3M |
| Other Income/Expenses | -$3M |
| INCOME BEFORE TAX | $69M |
| Income Tax Expense | $34M |
| Net Income from Continuing Ops | $34M |
| Net Income from Discontinued Ops | $6.0K |
| Other Adjustments | $0 |
| NET INCOME | $34M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $34M |
| D&A | $29M |
| EBIT | $71M |
| EBITDA | $101M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $400M |
| Cost of Revenue | $317M |
| GROSS PROFIT | $84M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $12M |
| SG&A Expenses | $12M |
| Other Expenses | $0 |
| Operating Expenses | $12M |
| Cost & Expenses | $329M |
| OPERATING INCOME | $71M |
| Interest Income | $2M |
| Interest Expense | $3M |
| Other Income/Expenses | -$3M |
| INCOME BEFORE TAX | $69M |
| Income Tax Expense | $34M |
| Net Income from Continuing Ops | $34M |
| Net Income from Discontinued Ops | $6.0K |
| Other Adjustments | $0 |
| NET INCOME | $34M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $34M |
| D&A | $29M |
| EBIT | $71M |
| EBITDA | $101M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $34M |
| Depreciation & Amortization | $29M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $2M |
| Other Non-Cash Items | $24M |
| Change in Working Capital | $51M |
| OPERATING CASH FLOW | $141M |
| Capital Expenditure | -$18M |
| Acquisitions (Net) | $222.0K |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$18M |
| Net Debt Issuance | -$23M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | -$23M |
| FREE CASH FLOW | $123M |
| Net Change in Cash | $104M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $246M |
| Short-Term Investments | $0 |
| Net Receivables | $94M |
| Inventory | $0 |
| Other Current Assets | $30M |
| TOTAL CURRENT ASSETS | $370M |
| PP&E (Net) | $0 |
| Goodwill | $616M |
| Intangible Assets | $161M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $969M |
| TOTAL NON-CURRENT ASSETS | $1.7B |
| TOTAL ASSETS | $2.1B |
| Account Payables | $56M |
| Short-Term Debt | $90M |
| Deferred Revenue | $91M |
| Other Current Liabilities | $209M |
| TOTAL CURRENT LIABILITIES | $459M |
| Long-Term Debt | $71M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $14M |
| Other Non-Current Liabilities | $175M |
| TOTAL NON-CURRENT LIABILITIES | $538M |
| TOTAL LIABILITIES | $997M |
| Common Stock | $590.0K |
| Additional Paid-In Capital | $1.1B |
| Retained Earnings | $358M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$351M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $1.1B |
| Minority Interest | -$551.0K |
| TOTAL EQUITY | $1.1B |
| TOTAL LIABILITIES & EQUITY | $2.1B |
| Total Debt | $438M |
| Net Debt | $192M |
