| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $1.2B | $961M | $1.1B | 25.9% | 11.9% |
| Op. Income | $349M | $223M | $313M | 56.5% | 11.5% |
| Gross Margin | 45.5% | 26.4% | 49.7% | 19.0pp | -4.2pp |
| Net Margin | 23.2% | 18.1% | 27.3% | 5.1pp | -4.1pp |
| EPS (Diluted) | $1.09 | $0.68 | $1.15 | 60.3% | -5.2% |
| Free Cash Flow | $1.5B | -$240M | -$123M | 713.8% | 1297.6% |
| Item | Amount |
|---|---|
| REVENUE | $1.2B |
| Cost of Revenue | $660M |
| GROSS PROFIT | $550M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $201M |
| Operating Expenses | $201M |
| Cost & Expenses | $861M |
| OPERATING INCOME | $349M |
| Interest Income | $0 |
| Interest Expense | $128M |
| Other Income/Expenses | -$86M |
| INCOME BEFORE TAX | $263M |
| Income Tax Expense | -$18M |
| Net Income from Continuing Ops | $281M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $281M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $281M |
| D&A | $211M |
| EBIT | $391M |
| EBITDA | $602M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| REVENUE | $1.2B |
| Cost of Revenue | $660M |
| GROSS PROFIT | $550M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $201M |
| Operating Expenses | $201M |
| Cost & Expenses | $861M |
| OPERATING INCOME | $349M |
| Interest Income | $0 |
| Interest Expense | $128M |
| Other Income/Expenses | -$86M |
| INCOME BEFORE TAX | $263M |
| Income Tax Expense | -$18M |
| Net Income from Continuing Ops | $281M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $281M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $281M |
| D&A | $211M |
| EBIT | $391M |
| EBITDA | $602M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $281M |
| Depreciation & Amortization | $211M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $100M |
| Other Non-Cash Items | -$79M |
| Change in Working Capital | -$105M |
| OPERATING CASH FLOW | $408M |
| Capital Expenditure | $1.1B |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$250M |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$1.5B |
| NET CASH FROM INVESTING | -$711M |
| Net Debt Issuance | $612M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | -$130M |
| Other Financing Activities | -$5M |
| NET CASH FROM FINANCING | $477M |
| FREE CASH FLOW | $1.5B |
| Net Change in Cash | $174M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $503M |
| Short-Term Investments | $250M |
| Net Receivables | $485M |
| Inventory | $281M |
| Other Current Assets | $325M |
| TOTAL CURRENT ASSETS | $1.8B |
| PP&E (Net) | $19.8B |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $689M |
| Tax Assets | $0 |
| Other Non-Current Assets | $2.3B |
| TOTAL NON-CURRENT ASSETS | $22.8B |
| TOTAL ASSETS | $24.6B |
| Account Payables | $550M |
| Short-Term Debt | $1.3B |
| Deferred Revenue | $0 |
| Other Current Liabilities | $418M |
| TOTAL CURRENT LIABILITIES | $2.2B |
| Long-Term Debt | $10.7B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $2.2B |
| Other Non-Current Liabilities | $2.2B |
| TOTAL NON-CURRENT LIABILITIES | $15.1B |
| TOTAL LIABILITIES | $17.3B |
| Common Stock | $3M |
| Additional Paid-In Capital | $3.1B |
| Retained Earnings | $4.2B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $7.3B |
| Minority Interest | $0 |
| TOTAL EQUITY | $7.3B |
| TOTAL LIABILITIES & EQUITY | $24.6B |
| Total Debt | $11.9B |
| Net Debt | $11.4B |
