| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $594M | $625M | $530M | -4.9% | 12.2% |
| Op. Income | -$223M | $97M | -$49M | -328.7% | -350.1% |
| Gross Margin | 38.0% | 38.6% | 33.4% | -0.6pp | 4.6pp |
| Net Margin | -40.8% | 11.1% | -9.8% | -51.9pp | -31.0pp |
| EPS (Diluted) | $-9.72 | $2.77 | $-1.57 | -450.9% | -519.1% |
| Free Cash Flow | $120M | $131M | $135M | -8.7% | -11.2% |
| Item | Amount |
|---|---|
| REVENUE | $594M |
| Cost of Revenue | $368M |
| GROSS PROFIT | $226M |
| R&D Expenses | $27M |
| Selling & Marketing | $0 |
| General & Administrative | $99M |
| SG&A Expenses | $99M |
| Other Expenses | $322M |
| Operating Expenses | $449M |
| Cost & Expenses | $817M |
| OPERATING INCOME | -$223M |
| Interest Income | $0 |
| Interest Expense | $8M |
| Other Income/Expenses | -$6M |
| INCOME BEFORE TAX | -$229M |
| Income Tax Expense | $13M |
| Net Income from Continuing Ops | -$242M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$242M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$242M |
| D&A | $90M |
| EBIT | -$221M |
| EBITDA | -$131M |
| EPS | -$10 |
| EPS Diluted | -$10 |
| Item | Amount |
|---|---|
| Net Income | -$242M |
| Depreciation & Amortization | $90M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $256M |
| Change in Working Capital | $34M |
| OPERATING CASH FLOW | $139M |
| Capital Expenditure | -$19M |
| Acquisitions (Net) | -$351M |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $689.0K |
| NET CASH FROM INVESTING | -$369M |
| Net Debt Issuance | -$2M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | -$19M |
| Other Financing Activities | -$3M |
| NET CASH FROM FINANCING | -$23M |
| FREE CASH FLOW | $120M |
| Net Change in Cash | -$251M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $563M |
| Short-Term Investments | $287.0K |
| Net Receivables | $363M |
| Inventory | $416M |
| Other Current Assets | $92M |
| TOTAL CURRENT ASSETS | $1.4B |
| PP&E (Net) | $627M |
| Goodwill | $1.2B |
| Intangible Assets | $635M |
| Long-Term Investments | $20M |
| Tax Assets | $5M |
| Other Non-Current Assets | $63M |
| TOTAL NON-CURRENT ASSETS | $2.5B |
| TOTAL ASSETS | $4.0B |
| Account Payables | $211M |
| Short-Term Debt | $96M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $225M |
| TOTAL CURRENT LIABILITIES | $533M |
| Long-Term Debt | $778M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $102M |
| Other Non-Current Liabilities | $46M |
| TOTAL NON-CURRENT LIABILITIES | $998M |
| TOTAL LIABILITIES | $1.5B |
| Common Stock | $0 |
| Additional Paid-In Capital | $0 |
| Retained Earnings | $0 |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $2.4B |
| TOTAL STOCKHOLDERS' EQUITY | $2.4B |
| Minority Interest | $0 |
| TOTAL EQUITY | $2.4B |
| TOTAL LIABILITIES & EQUITY | $4.0B |
| Total Debt | $946M |
| Net Debt | $383M |
