| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $301M | $340M | $284M | -11.4% | 6.1% |
| Op. Income | $15M | $62M | -$34M | -75.6% | 144.3% |
| Gross Margin | 31.1% | 42.4% | 23.7% | -11.3pp | 7.4pp |
| Net Margin | -24.8% | 3.9% | -21.9% | -28.7pp | -2.9pp |
| EPS (Diluted) | $-0.52 | $0.07 | $-0.40 | -847.1% | -30.0% |
| Free Cash Flow | -$1M | $61M | -$41M | -101.8% | 97.3% |
| Item | Amount |
|---|---|
| REVENUE | $301M |
| Cost of Revenue | $207M |
| GROSS PROFIT | $94M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $33M |
| Other Expenses | $46M |
| Operating Expenses | $79M |
| Cost & Expenses | $286M |
| OPERATING INCOME | $15M |
| Interest Income | $0 |
| Interest Expense | $49M |
| Other Income/Expenses | -$35M |
| INCOME BEFORE TAX | -$20M |
| Income Tax Expense | $54M |
| Net Income from Continuing Ops | -$75M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$75M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$73M |
| D&A | $40M |
| EBIT | $29M |
| EBITDA | $70M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$75M |
| Depreciation & Amortization | $40M |
| Stock-Based Compensation | $4M |
| Deferred Income Tax | $50M |
| Other Non-Cash Items | $5M |
| Change in Working Capital | -$1M |
| OPERATING CASH FLOW | $22M |
| Capital Expenditure | -$24M |
| Acquisitions (Net) | -$30M |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$54M |
| Net Debt Issuance | $27M |
| Common Stock Repurchased | -$7M |
| Common Dividends Paid | -$8M |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $12M |
| FREE CASH FLOW | -$1M |
| Net Change in Cash | -$19M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $60M |
| Short-Term Investments | $0 |
| Net Receivables | $8M |
| Inventory | $16M |
| Other Current Assets | $29M |
| TOTAL CURRENT ASSETS | $113M |
| PP&E (Net) | $2.0B |
| Goodwill | $844M |
| Intangible Assets | $46M |
| Long-Term Investments | $26M |
| Tax Assets | $68M |
| Other Non-Current Assets | $22M |
| TOTAL NON-CURRENT ASSETS | $3.0B |
| TOTAL ASSETS | $3.2B |
| Account Payables | $34M |
| Short-Term Debt | $10M |
| Deferred Revenue | $31M |
| Other Current Liabilities | $20M |
| TOTAL CURRENT LIABILITIES | $194M |
| Long-Term Debt | $1.3B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $4M |
| Other Non-Current Liabilities | $542M |
| TOTAL NON-CURRENT LIABILITIES | $3.1B |
| TOTAL LIABILITIES | $3.3B |
| Common Stock | $18.0K |
| Additional Paid-In Capital | $473M |
| Retained Earnings | -$313M |
| Treasury Stock | -$458M |
| Accum. Other Comp. Income | -$480.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | -$171M |
| Minority Interest | $0 |
| TOTAL EQUITY | -$171M |
| TOTAL LIABILITIES & EQUITY | $3.2B |
| Total Debt | $2.6B |
| Net Debt | $2.6B |
