| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $3.1B | $3.1B | $3.2B | -0.2% | -4.2% |
| Op. Income | -$116M | -$603M | $126M | 80.8% | -192.1% |
| Gross Margin | 44.9% | 47.5% | 47.5% | -2.5pp | -2.5pp |
| Net Margin | -20.1% | -29.6% | -4.6% | 9.5pp | -15.5pp |
| EPS (Diluted) | $-0.62 | $-0.92 | $-0.15 | 32.6% | -313.3% |
| Free Cash Flow | $1.5B | -$321M | $1.2B | 557.9% | 24.4% |
| Item | Amount |
|---|---|
| REVENUE | $3.1B |
| Cost of Revenue | $1.7B |
| GROSS PROFIT | $1.4B |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $829M |
| SG&A Expenses | $829M |
| Other Expenses | $674M |
| Operating Expenses | $1.5B |
| Cost & Expenses | $3.2B |
| OPERATING INCOME | -$116M |
| Interest Income | $18M |
| Interest Expense | $319M |
| Other Income/Expenses | -$697M |
| INCOME BEFORE TAX | -$813M |
| Income Tax Expense | -$192M |
| Net Income from Continuing Ops | -$621M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$621M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$621M |
| D&A | $674M |
| EBIT | -$494M |
| EBITDA | $180M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$621M |
| Depreciation & Amortization | $674M |
| Stock-Based Compensation | $13M |
| Deferred Income Tax | -$188M |
| Other Non-Cash Items | $470M |
| Change in Working Capital | $2.2B |
| OPERATING CASH FLOW | $2.5B |
| Capital Expenditure | -$1.0B |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $14M |
| NET CASH FROM INVESTING | -$1.0B |
| Net Debt Issuance | -$316M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$335M |
| NET CASH FROM FINANCING | -$651M |
| FREE CASH FLOW | $1.5B |
| Net Change in Cash | $833M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $2.4B |
| Short-Term Investments | $0 |
| Net Receivables | $1.7B |
| Inventory | $163M |
| Other Current Assets | $4.1B |
| TOTAL CURRENT ASSETS | $8.7B |
| PP&E (Net) | $19.1B |
| Goodwill | $0 |
| Intangible Assets | $4.4B |
| Long-Term Investments | $8M |
| Tax Assets | $0 |
| Other Non-Current Assets | $2.1B |
| TOTAL NON-CURRENT ASSETS | $25.6B |
| TOTAL ASSETS | $34.3B |
| Account Payables | $1.1B |
| Short-Term Debt | $94M |
| Deferred Revenue | $1.0B |
| Other Current Liabilities | $260M |
| TOTAL CURRENT LIABILITIES | $3.9B |
| Long-Term Debt | $17.6B |
| Deferred Revenue NC | $6.2B |
| Deferred Tax Liabilities | $2.3B |
| Other Non-Current Liabilities | $5.4B |
| TOTAL NON-CURRENT LIABILITIES | $31.5B |
| TOTAL LIABILITIES | $35.5B |
| Common Stock | $19.2B |
| Additional Paid-In Capital | $0 |
| Retained Earnings | -$19.7B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$647M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | -$1.2B |
| Minority Interest | $0 |
| TOTAL EQUITY | -$1.2B |
| TOTAL LIABILITIES & EQUITY | $34.3B |
| Total Debt | $17.9B |
| Net Debt | $15.5B |
