| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $1.1B | $1.2B | $976M | -12.1% | 9.0% |
| Op. Income | $196M | $349M | $221M | -43.8% | -11.3% |
| Gross Margin | 42.0% | 45.5% | 46.5% | -3.4pp | -4.5pp |
| Net Margin | 13.3% | 23.2% | 15.4% | -9.9pp | -2.0pp |
| EPS (Diluted) | $0.55 | $1.09 | $0.58 | -49.5% | -5.2% |
| Free Cash Flow | -$2.2B | $1.5B | -$561M | -250.3% | -294.7% |
| Item | Amount |
|---|---|
| REVENUE | $1.1B |
| Cost of Revenue | $616M |
| GROSS PROFIT | $447M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $251M |
| Operating Expenses | $251M |
| Cost & Expenses | $868M |
| OPERATING INCOME | $196M |
| Interest Income | $0 |
| Interest Expense | $141M |
| Other Income/Expenses | -$94M |
| INCOME BEFORE TAX | $102M |
| Income Tax Expense | -$40M |
| Net Income from Continuing Ops | $142M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $142M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $142M |
| D&A | $215M |
| EBIT | $243M |
| EBITDA | $458M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| REVENUE | $1.1B |
| Cost of Revenue | $616M |
| GROSS PROFIT | $447M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $251M |
| Operating Expenses | $251M |
| Cost & Expenses | $868M |
| OPERATING INCOME | $196M |
| Interest Income | $0 |
| Interest Expense | $141M |
| Other Income/Expenses | -$94M |
| INCOME BEFORE TAX | $102M |
| Income Tax Expense | -$40M |
| Net Income from Continuing Ops | $142M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $142M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $142M |
| D&A | $215M |
| EBIT | $243M |
| EBITDA | $458M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $142M |
| Depreciation & Amortization | $216M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$1.6B |
| Change in Working Capital | $1.5B |
| OPERATING CASH FLOW | $269M |
| Capital Expenditure | -$2.5B |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $250M |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $1.9B |
| NET CASH FROM INVESTING | -$291M |
| Net Debt Issuance | $192M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | -$130M |
| Other Financing Activities | -$10M |
| NET CASH FROM FINANCING | $75M |
| FREE CASH FLOW | -$2.2B |
| Net Change in Cash | $53M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $556M |
| Short-Term Investments | $0 |
| Net Receivables | $476M |
| Inventory | $288M |
| Other Current Assets | $377M |
| TOTAL CURRENT ASSETS | $1.7B |
| PP&E (Net) | $20.3B |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $714M |
| Tax Assets | $824M |
| Other Non-Current Assets | $2.2B |
| TOTAL NON-CURRENT ASSETS | $24.1B |
| TOTAL ASSETS | $25.8B |
| Account Payables | $498M |
| Short-Term Debt | $1.2B |
| Deferred Revenue | $0 |
| Other Current Liabilities | $461M |
| TOTAL CURRENT LIABILITIES | $2.1B |
| Long-Term Debt | $11.0B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $3.1B |
| Other Non-Current Liabilities | $2.0B |
| TOTAL NON-CURRENT LIABILITIES | $16.4B |
| TOTAL LIABILITIES | $18.5B |
| Common Stock | $3M |
| Additional Paid-In Capital | $3.1B |
| Retained Earnings | $4.2B |
| Treasury Stock | -$14M |
| Accum. Other Comp. Income | $1M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $7.3B |
| Minority Interest | $0 |
| TOTAL EQUITY | $7.3B |
| TOTAL LIABILITIES & EQUITY | $25.8B |
| Total Debt | $12.3B |
| Net Debt | $11.8B |
