| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $677M | $553M | $596M | 22.4% | 13.6% |
| Op. Income | $20M | $19M | $16M | 9.2% | 24.7% |
| Gross Margin | 16.7% | 18.4% | 16.0% | -1.7pp | 0.8pp |
| Net Margin | 1.0% | 0.9% | 9.5% | 0.1pp | -8.5pp |
| EPS (Diluted) | $0.19 | $0.14 | $1.59 | 35.7% | -88.1% |
| Free Cash Flow | $78M | -$22M | $101M | 455.9% | -22.6% |
| Item | Amount |
|---|---|
| REVENUE | $677M |
| Cost of Revenue | $564M |
| GROSS PROFIT | $113M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $89M |
| Other Expenses | $4M |
| Operating Expenses | $93M |
| Cost & Expenses | $657M |
| OPERATING INCOME | $20M |
| Interest Income | $0 |
| Interest Expense | $10M |
| Other Income/Expenses | -$8M |
| INCOME BEFORE TAX | $12M |
| Income Tax Expense | $5M |
| Net Income from Continuing Ops | $7M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $7M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $7M |
| D&A | $16M |
| EBIT | $23M |
| EBITDA | $40M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $677M |
| Cost of Revenue | $564M |
| GROSS PROFIT | $113M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $89M |
| Other Expenses | $4M |
| Operating Expenses | $93M |
| Cost & Expenses | $657M |
| OPERATING INCOME | $20M |
| Interest Income | $0 |
| Interest Expense | $10M |
| Other Income/Expenses | -$8M |
| INCOME BEFORE TAX | $12M |
| Income Tax Expense | $5M |
| Net Income from Continuing Ops | $7M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $7M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $7M |
| D&A | $16M |
| EBIT | $23M |
| EBITDA | $40M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $7M |
| Depreciation & Amortization | $16M |
| Stock-Based Compensation | $3M |
| Deferred Income Tax | -$6M |
| Other Non-Cash Items | $0 |
| Change in Working Capital | $71M |
| OPERATING CASH FLOW | $91M |
| Capital Expenditure | -$13M |
| Acquisitions (Net) | $400.0K |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$12M |
| Net Debt Issuance | -$40M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$1M |
| NET CASH FROM FINANCING | -$41M |
| FREE CASH FLOW | $78M |
| Net Change in Cash | $38M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $77M |
| Short-Term Investments | $0 |
| Net Receivables | $281M |
| Inventory | $684M |
| Other Current Assets | $54M |
| TOTAL CURRENT ASSETS | $1.1B |
| PP&E (Net) | $411M |
| Goodwill | $80M |
| Intangible Assets | $125M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $106M |
| TOTAL NON-CURRENT ASSETS | $722M |
| TOTAL ASSETS | $1.8B |
| Account Payables | $242M |
| Short-Term Debt | $29M |
| Deferred Revenue | $18M |
| Other Current Liabilities | $124M |
| TOTAL CURRENT LIABILITIES | $492M |
| Long-Term Debt | $501M |
| Deferred Revenue NC | $19M |
| Deferred Tax Liabilities | $2M |
| Other Non-Current Liabilities | $56M |
| TOTAL NON-CURRENT LIABILITIES | $631M |
| TOTAL LIABILITIES | $1.1B |
| Common Stock | $400.0K |
| Additional Paid-In Capital | $617M |
| Retained Earnings | $207M |
| Treasury Stock | -$63M |
| Accum. Other Comp. Income | -$65M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $695M |
| Minority Interest | $0 |
| TOTAL EQUITY | $695M |
| TOTAL LIABILITIES & EQUITY | $1.8B |
| Total Debt | $583M |
| Net Debt | $506M |
