| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $450M | $458M | $488M | -1.9% | -8.0% |
| Op. Income | -$63M | -$68M | $50M | 7.1% | -224.6% |
| Gross Margin | -8.3% | 0.1% | 15.6% | -8.4pp | -23.9pp |
| Net Margin | -68.7% | -17.6% | 3.4% | -51.0pp | -72.1pp |
| EPS (Diluted) | $-4.61 | $-1.21 | $0.25 | -281.0% | -1944.0% |
| Free Cash Flow | $32M | -$60M | $50M | 153.3% | -36.6% |
| Item | Amount |
|---|---|
| REVENUE | $450M |
| Cost of Revenue | $487M |
| GROSS PROFIT | -$37M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $25M |
| Other Expenses | $0 |
| Operating Expenses | $25M |
| Cost & Expenses | $512M |
| OPERATING INCOME | -$63M |
| Interest Income | $0 |
| Interest Expense | $30M |
| Other Income/Expenses | -$243M |
| INCOME BEFORE TAX | -$306M |
| Income Tax Expense | $3M |
| Net Income from Continuing Ops | -$309M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$309M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$309M |
| D&A | $43M |
| EBIT | -$63M |
| EBITDA | -$20M |
| EPS | -$5 |
| EPS Diluted | -$5 |
| Item | Amount |
|---|---|
| Net Income | -$309M |
| Depreciation & Amortization | $43M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $11M |
| Other Non-Cash Items | $243M |
| Change in Working Capital | $58M |
| OPERATING CASH FLOW | $46M |
| Capital Expenditure | -$14M |
| Acquisitions (Net) | $5M |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$2M |
| NET CASH FROM INVESTING | -$11M |
| Net Debt Issuance | $43M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $10M |
| NET CASH FROM FINANCING | $53M |
| FREE CASH FLOW | $32M |
| Net Change in Cash | $89M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $187M |
| Short-Term Investments | $0 |
| Net Receivables | $299M |
| Inventory | $359M |
| Other Current Assets | $21M |
| TOTAL CURRENT ASSETS | $866M |
| PP&E (Net) | $1.1B |
| Goodwill | $0 |
| Intangible Assets | $26M |
| Long-Term Investments | $0 |
| Tax Assets | $8M |
| Other Non-Current Assets | $19M |
| TOTAL NON-CURRENT ASSETS | $1.2B |
| TOTAL ASSETS | $2.0B |
| Account Payables | $283M |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $745.0K |
| TOTAL CURRENT LIABILITIES | $284M |
| Long-Term Debt | $1.6B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $58M |
| Other Non-Current Liabilities | $19M |
| TOTAL NON-CURRENT LIABILITIES | $1.7B |
| TOTAL LIABILITIES | $2.0B |
| Common Stock | $67M |
| Additional Paid-In Capital | $365M |
| Retained Earnings | -$277M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$87M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $68M |
| Minority Interest | $0 |
| TOTAL EQUITY | $68M |
| TOTAL LIABILITIES & EQUITY | $2.0B |
| Total Debt | $1.6B |
| Net Debt | $1.4B |
