| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $273M | $289M | $256M | -5.5% | 6.7% |
| Op. Income | -$19M | $111M | $95M | -117.3% | -120.3% |
| Gross Margin | 58.7% | 41.6% | 40.7% | 17.0pp | 17.9pp |
| Net Margin | -13.1% | 31.1% | 26.4% | -44.2pp | -39.5pp |
| EPS (Diluted) | $-0.28 | $0.76 | $0.70 | -136.8% | -140.0% |
| Free Cash Flow | $48M | -$4M | $63M | 1183.3% | -23.0% |
| Item | Amount |
|---|---|
| REVENUE | $273M |
| Cost of Revenue | $113M |
| GROSS PROFIT | $160M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $23M |
| SG&A Expenses | $23M |
| Other Expenses | $156M |
| Operating Expenses | $179M |
| Cost & Expenses | $292M |
| OPERATING INCOME | -$19M |
| Interest Income | $0 |
| Interest Expense | $12M |
| Other Income/Expenses | -$16M |
| INCOME BEFORE TAX | -$36M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | -$36M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$36M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$36M |
| D&A | $156M |
| EBIT | -$24M |
| EBITDA | $132M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$36M |
| Depreciation & Amortization | $66M |
| Stock-Based Compensation | $2M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $73M |
| Change in Working Capital | $165.0K |
| OPERATING CASH FLOW | $106M |
| Capital Expenditure | -$57M |
| Acquisitions (Net) | -$215.0K |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$538M |
| NET CASH FROM INVESTING | -$596M |
| Net Debt Issuance | $585M |
| Common Stock Repurchased | -$12.0K |
| Common Dividends Paid | -$45M |
| Other Financing Activities | -$10M |
| NET CASH FROM FINANCING | $530M |
| FREE CASH FLOW | $48M |
| Net Change in Cash | $40M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $54M |
| Short-Term Investments | $0 |
| Net Receivables | $213M |
| Inventory | $49M |
| Other Current Assets | $59M |
| TOTAL CURRENT ASSETS | $375M |
| PP&E (Net) | $3.3B |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $8M |
| Tax Assets | $0 |
| Other Non-Current Assets | $39M |
| TOTAL NON-CURRENT ASSETS | $3.4B |
| TOTAL ASSETS | $3.8B |
| Account Payables | $86M |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $44.0K |
| TOTAL CURRENT LIABILITIES | $375M |
| Long-Term Debt | $1.1B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $275M |
| TOTAL NON-CURRENT LIABILITIES | $1.4B |
| TOTAL LIABILITIES | $1.8B |
| Common Stock | $2.0B |
| Additional Paid-In Capital | $0 |
| Retained Earnings | $0 |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $2.0B |
| Minority Interest | $0 |
| TOTAL EQUITY | $2.0B |
| TOTAL LIABILITIES & EQUITY | $3.8B |
| Total Debt | $1.2B |
| Net Debt | $1.1B |
