| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $764M | $798M | $927M | -4.2% | -17.6% |
| Op. Income | $70M | $107M | $191M | -34.7% | -63.4% |
| Gross Margin | 13.0% | 17.6% | 24.0% | -4.6pp | -11.0pp |
| Net Margin | 11.3% | -2.6% | 10.4% | 14.0pp | 0.9pp |
| EPS (Diluted) | $0.54 | $-0.13 | $0.60 | 515.4% | -10.0% |
| Free Cash Flow | $35M | $139M | -$4M | -74.6% | 895.4% |
| Item | Amount |
|---|---|
| REVENUE | $764M |
| Cost of Revenue | $665M |
| GROSS PROFIT | $100M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $30M |
| SG&A Expenses | $30M |
| Other Expenses | $0 |
| Operating Expenses | $30M |
| Cost & Expenses | $694M |
| OPERATING INCOME | $70M |
| Interest Income | $0 |
| Interest Expense | $41M |
| Other Income/Expenses | -$56M |
| INCOME BEFORE TAX | $14M |
| Income Tax Expense | -$73M |
| Net Income from Continuing Ops | $87M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $87M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $87M |
| D&A | $148M |
| EBIT | $70M |
| EBITDA | $218M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| REVENUE | $764M |
| Cost of Revenue | $665M |
| GROSS PROFIT | $100M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $30M |
| SG&A Expenses | $30M |
| Other Expenses | $0 |
| Operating Expenses | $30M |
| Cost & Expenses | $694M |
| OPERATING INCOME | $70M |
| Interest Income | $0 |
| Interest Expense | $41M |
| Other Income/Expenses | -$56M |
| INCOME BEFORE TAX | $14M |
| Income Tax Expense | -$73M |
| Net Income from Continuing Ops | $87M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $87M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $87M |
| D&A | $148M |
| EBIT | $70M |
| EBITDA | $218M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $87M |
| Depreciation & Amortization | $148M |
| Stock-Based Compensation | $46M |
| Deferred Income Tax | $112M |
| Other Non-Cash Items | -$10M |
| Change in Working Capital | -$196M |
| OPERATING CASH FLOW | $187M |
| Capital Expenditure | -$152M |
| Acquisitions (Net) | -$86M |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $131M |
| NET CASH FROM INVESTING | -$106M |
| Net Debt Issuance | $19M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | -$80M |
| Other Financing Activities | -$24M |
| NET CASH FROM FINANCING | -$85M |
| FREE CASH FLOW | $35M |
| Net Change in Cash | -$5M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $471M |
| Short-Term Investments | $0 |
| Net Receivables | $698M |
| Inventory | $0 |
| Other Current Assets | $103M |
| TOTAL CURRENT ASSETS | $1.3B |
| PP&E (Net) | $6.6B |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $1M |
| Tax Assets | $0 |
| Other Non-Current Assets | -$383M |
| TOTAL NON-CURRENT ASSETS | $6.3B |
| TOTAL ASSETS | $7.5B |
| Account Payables | $299M |
| Short-Term Debt | $14M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $364M |
| TOTAL CURRENT LIABILITIES | $760M |
| Long-Term Debt | $2.0B |
| Deferred Revenue NC | $33M |
| Deferred Tax Liabilities | $5M |
| Other Non-Current Liabilities | $155M |
| TOTAL NON-CURRENT LIABILITIES | $2.2B |
| TOTAL LIABILITIES | $3.0B |
| Common Stock | $1.0K |
| Additional Paid-In Capital | $4.3B |
| Retained Earnings | $287M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $5M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $4.5B |
| Minority Interest | $0 |
| TOTAL EQUITY | $4.5B |
| TOTAL LIABILITIES & EQUITY | $7.5B |
| Total Debt | $2.0B |
| Net Debt | $1.5B |
