| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $1.0B | $947M | $944M | 9.6% | 10.1% |
| Op. Income | $20M | -$4M | $13M | 647.9% | 47.5% |
| Gross Margin | 20.6% | 5.8% | 7.4% | 14.8pp | 13.2pp |
| Net Margin | 1.3% | 4.5% | 5.5% | -3.2pp | -4.2pp |
| EPS (Diluted) | $0.08 | $0.26 | $0.31 | -68.3% | -73.4% |
| Free Cash Flow | -$10M | -$67M | -$26M | 85.2% | 62.0% |
| Item | Amount |
|---|---|
| REVENUE | $1.0B |
| Cost of Revenue | $825M |
| GROSS PROFIT | $214M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $65M |
| SG&A Expenses | $65M |
| Other Expenses | $129M |
| Operating Expenses | $194M |
| Cost & Expenses | $1.0B |
| OPERATING INCOME | $20M |
| Interest Income | $0 |
| Interest Expense | $10M |
| Other Income/Expenses | -$3M |
| INCOME BEFORE TAX | $17M |
| Income Tax Expense | $3M |
| Net Income from Continuing Ops | $14M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $14M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $14M |
| D&A | $120M |
| EBIT | $27M |
| EBITDA | $147M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $1.0B |
| Cost of Revenue | $825M |
| GROSS PROFIT | $214M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $65M |
| SG&A Expenses | $65M |
| Other Expenses | $129M |
| Operating Expenses | $194M |
| Cost & Expenses | $1.0B |
| OPERATING INCOME | $20M |
| Interest Income | $0 |
| Interest Expense | $10M |
| Other Income/Expenses | -$3M |
| INCOME BEFORE TAX | $17M |
| Income Tax Expense | $3M |
| Net Income from Continuing Ops | $14M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $14M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $14M |
| D&A | $120M |
| EBIT | $27M |
| EBITDA | $147M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $14M |
| Depreciation & Amortization | $120M |
| Stock-Based Compensation | $8M |
| Deferred Income Tax | $55M |
| Other Non-Cash Items | -$38M |
| Change in Working Capital | $36M |
| OPERATING CASH FLOW | $195M |
| Capital Expenditure | -$205M |
| Acquisitions (Net) | $3M |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $70M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$133M |
| Net Debt Issuance | -$33M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | -$15M |
| Other Financing Activities | -$1M |
| NET CASH FROM FINANCING | -$49M |
| FREE CASH FLOW | -$10M |
| Net Change in Cash | $14M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $28M |
| Short-Term Investments | $0 |
| Net Receivables | $605M |
| Inventory | $188M |
| Other Current Assets | $57M |
| TOTAL CURRENT ASSETS | $878M |
| PP&E (Net) | $2.5B |
| Goodwill | $0 |
| Intangible Assets | $13M |
| Long-Term Investments | $71M |
| Tax Assets | $0 |
| Other Non-Current Assets | $135M |
| TOTAL NON-CURRENT ASSETS | $2.7B |
| TOTAL ASSETS | $3.6B |
| Account Payables | $599M |
| Short-Term Debt | $122M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $720M |
| Long-Term Debt | $497M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $196M |
| Other Non-Current Liabilities | -$188M |
| TOTAL NON-CURRENT LIABILITIES | $759M |
| TOTAL LIABILITIES | $1.5B |
| Common Stock | $2M |
| Additional Paid-In Capital | $978M |
| Retained Earnings | $1.1B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$14M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $2.1B |
| Minority Interest | $0 |
| TOTAL EQUITY | $2.1B |
| TOTAL LIABILITIES & EQUITY | $3.6B |
| Total Debt | $873M |
| Net Debt | $846M |
