| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $2.9B | $2.5B | $2.8B | 16.7% | 4.7% |
| Op. Income | $749M | $424M | $691M | 76.8% | 8.4% |
| Gross Margin | 47.1% | 42.1% | 45.2% | 4.9pp | 1.9pp |
| Net Margin | 14.3% | 1.2% | 16.9% | 13.1pp | -2.7pp |
| EPS (Diluted) | $0.86 | $0.07 | $0.95 | 1185.5% | -9.5% |
| Free Cash Flow | -$727M | $381M | -$196M | -290.6% | -271.6% |
| Item | Amount |
|---|---|
| REVENUE | $2.9B |
| Cost of Revenue | $1.6B |
| GROSS PROFIT | $1.4B |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $383M |
| Other Expenses | $251M |
| Operating Expenses | $634M |
| Cost & Expenses | $2.2B |
| OPERATING INCOME | $749M |
| Interest Income | $0 |
| Interest Expense | $329M |
| Other Income/Expenses | -$316M |
| INCOME BEFORE TAX | $434M |
| Income Tax Expense | $14M |
| NET INCOME | $419M |
| D&A | $251M |
| EBIT | $762M |
| EBITDA | $1.0B |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| REVENUE | $2.9B |
| Cost of Revenue | $1.6B |
| GROSS PROFIT | $1.4B |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $383M |
| Other Expenses | $251M |
| Operating Expenses | $634M |
| Cost & Expenses | $2.2B |
| OPERATING INCOME | $749M |
| Interest Income | $0 |
| Interest Expense | $329M |
| Other Income/Expenses | -$316M |
| INCOME BEFORE TAX | $434M |
| Income Tax Expense | $14M |
| NET INCOME | $419M |
| D&A | $251M |
| EBIT | $762M |
| EBITDA | $1.0B |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $419M |
| Depreciation & Amortization | $273M |
| Stock-Based Compensation | $18M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $147M |
| Change in Working Capital | -$621M |
| OPERATING CASH FLOW | $237M |
| Capital Expenditure | -$963M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$386.0K |
| NET CASH FROM INVESTING | -$963M |
| Net Debt Issuance | $760M |
| Common Stock Repurchased | -$19.0K |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$132M |
| NET CASH FROM FINANCING | $710M |
| FREE CASH FLOW | -$727M |
| Net Change in Cash | -$17M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $167M |
| Short-Term Investments | $0 |
| Net Receivables | $253M |
| Inventory | $156M |
| Other Current Assets | $466M |
| TOTAL CURRENT ASSETS | $1.0B |
| PP&E (Net) | $19.9B |
| Goodwill | $136M |
| Intangible Assets | $501M |
| Long-Term Investments | $986.0K |
| Tax Assets | $0 |
| Other Non-Current Assets | $605M |
| TOTAL NON-CURRENT ASSETS | $21.2B |
| TOTAL ASSETS | $22.2B |
| Account Payables | $193M |
| Short-Term Debt | $904M |
| Deferred Revenue | $3.1B |
| Other Current Liabilities | $1.1B |
| TOTAL CURRENT LIABILITIES | $5.3B |
| Long-Term Debt | $13.6B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $230M |
| TOTAL NON-CURRENT LIABILITIES | $14.7B |
| TOTAL LIABILITIES | $20.0B |
| Common Stock | $455.0K |
| Additional Paid-In Capital | $8.2B |
| Retained Earnings | -$5.6B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$430M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $2.2B |
| Minority Interest | $0 |
| TOTAL EQUITY | $2.2B |
| TOTAL LIABILITIES & EQUITY | $22.2B |
| Total Debt | $15.3B |
| Net Debt | $15.2B |
