| Metric | Q1 2026 | Q4 2025 | Q1 2025 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $534M | $481M | $337M | 11.0% | 58.4% |
| Op. Income | $7M | -$8M | -$82M | 179.8% | 108.1% |
| Gross Margin | 34.0% | 33.3% | 23.1% | 0.7pp | 10.9pp |
| Net Margin | 0.8% | 44.4% | -24.5% | -43.6pp | 25.2pp |
| EPS (Diluted) | $0.05 | $2.96 | $-1.21 | -98.2% | 104.4% |
| Free Cash Flow | -$18M | $10M | -$35M | -281.2% | 47.0% |
| Item | Amount |
|---|---|
| REVENUE | $534M |
| Cost of Revenue | $352M |
| GROSS PROFIT | $182M |
| R&D Expenses | $81M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $85M |
| Other Expenses | $8M |
| Operating Expenses | $175M |
| Cost & Expenses | $527M |
| OPERATING INCOME | $7M |
| Interest Income | $9M |
| Interest Expense | $6M |
| Other Income/Expenses | -$2M |
| INCOME BEFORE TAX | $5M |
| Income Tax Expense | $1M |
| Net Income from Continuing Ops | $4M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $4M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $4M |
| D&A | $62M |
| EBIT | $11M |
| EBITDA | $73M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $534M |
| Cost of Revenue | $352M |
| GROSS PROFIT | $182M |
| R&D Expenses | $81M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $85M |
| Other Expenses | $8M |
| Operating Expenses | $175M |
| Cost & Expenses | $527M |
| OPERATING INCOME | $7M |
| Interest Income | $9M |
| Interest Expense | $6M |
| Other Income/Expenses | -$2M |
| INCOME BEFORE TAX | $5M |
| Income Tax Expense | $1M |
| Net Income from Continuing Ops | $4M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $4M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $4M |
| D&A | $62M |
| EBIT | $11M |
| EBITDA | $73M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $4M |
| Depreciation & Amortization | $63M |
| Stock-Based Compensation | $42M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $3M |
| Change in Working Capital | -$55M |
| OPERATING CASH FLOW | $58M |
| Capital Expenditure | -$76M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$58M |
| Sales/Maturities of Investments | $67M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$68M |
| Net Debt Issuance | $410M |
| Common Stock Repurchased | -$47M |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$101M |
| NET CASH FROM FINANCING | $262M |
| FREE CASH FLOW | -$18M |
| Net Change in Cash | $252M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $773M |
| Short-Term Investments | $349M |
| Net Receivables | $307M |
| Inventory | $532M |
| Other Current Assets | $125M |
| TOTAL CURRENT ASSETS | $2.1B |
| PP&E (Net) | $825M |
| Goodwill | $1.1B |
| Intangible Assets | $431M |
| Long-Term Investments | $0 |
| Tax Assets | $205M |
| Other Non-Current Assets | $6M |
| TOTAL NON-CURRENT ASSETS | $2.5B |
| TOTAL ASSETS | $4.6B |
| Account Payables | $279M |
| Short-Term Debt | $1.1B |
| Deferred Revenue | $3M |
| Other Current Liabilities | $57M |
| TOTAL CURRENT LIABILITIES | $1.5B |
| Long-Term Debt | $2.2B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $6M |
| Other Non-Current Liabilities | $111M |
| TOTAL NON-CURRENT LIABILITIES | $2.3B |
| TOTAL LIABILITIES | $3.8B |
| Common Stock | $100.0K |
| Additional Paid-In Capital | $1.6B |
| Retained Earnings | -$857M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $20M |
| Other Equity | -$11M |
| TOTAL STOCKHOLDERS' EQUITY | $781M |
| Minority Interest | $0 |
| TOTAL EQUITY | $781M |
| TOTAL LIABILITIES & EQUITY | $4.6B |
| Total Debt | $3.3B |
| Net Debt | $2.5B |
