| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $896M | $752M | $741M | 19.2% | 20.9% |
| Op. Income | $198M | $81M | $122M | 145.7% | 62.5% |
| Gross Margin | 22.8% | 16.6% | 19.3% | 6.2pp | 3.5pp |
| Net Margin | 5.6% | 9.2% | -13.3% | -3.6pp | 18.9pp |
| EPS (Diluted) | $0.38 | $0.52 | $-0.74 | -26.9% | 151.4% |
| Free Cash Flow | $169M | $97M | $175M | 74.8% | -3.2% |
| Item | Amount |
|---|---|
| REVENUE | $896M |
| Cost of Revenue | $692M |
| GROSS PROFIT | $204M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $40M |
| Other Expenses | -$33M |
| Operating Expenses | $7M |
| Cost & Expenses | $698M |
| OPERATING INCOME | $198M |
| Interest Income | $3M |
| Interest Expense | $88M |
| Other Income/Expenses | -$99M |
| INCOME BEFORE TAX | $99M |
| Income Tax Expense | $18M |
| Net Income from Continuing Ops | $81M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $50M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $50M |
| D&A | $103M |
| EBIT | $198M |
| EBITDA | $301M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $896M |
| Cost of Revenue | $692M |
| GROSS PROFIT | $204M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $40M |
| Other Expenses | -$33M |
| Operating Expenses | $7M |
| Cost & Expenses | $698M |
| OPERATING INCOME | $198M |
| Interest Income | $3M |
| Interest Expense | $88M |
| Other Income/Expenses | -$99M |
| INCOME BEFORE TAX | $99M |
| Income Tax Expense | $18M |
| Net Income from Continuing Ops | $81M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $50M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $50M |
| D&A | $103M |
| EBIT | $198M |
| EBITDA | $301M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $50M |
| Depreciation & Amortization | $103M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $127M |
| Change in Working Capital | $27M |
| OPERATING CASH FLOW | $307M |
| Capital Expenditure | -$138M |
| Acquisitions (Net) | $3M |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $4M |
| Other Investing Activities | -$496.9K |
| NET CASH FROM INVESTING | -$132M |
| Net Debt Issuance | -$111M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | -$7M |
| Other Financing Activities | -$12M |
| NET CASH FROM FINANCING | -$130M |
| FREE CASH FLOW | $169M |
| Net Change in Cash | $51M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $516M |
| Short-Term Investments | $6M |
| Net Receivables | $240M |
| Inventory | $414M |
| Other Current Assets | $96M |
| TOTAL CURRENT ASSETS | $1.3B |
| PP&E (Net) | $2.5B |
| Goodwill | $306M |
| Intangible Assets | $572M |
| Long-Term Investments | $56M |
| Tax Assets | $307M |
| Other Non-Current Assets | $218M |
| TOTAL NON-CURRENT ASSETS | $4.0B |
| TOTAL ASSETS | $5.3B |
| Account Payables | $915M |
| Short-Term Debt | $101M |
| Deferred Revenue | $18M |
| Other Current Liabilities | $266M |
| TOTAL CURRENT LIABILITIES | $1.5B |
| Long-Term Debt | $1.7B |
| Deferred Revenue NC | $73M |
| Deferred Tax Liabilities | $178M |
| Other Non-Current Liabilities | $541M |
| TOTAL NON-CURRENT LIABILITIES | $2.5B |
| TOTAL LIABILITIES | $4.0B |
| Common Stock | $132M |
| Additional Paid-In Capital | $2.2B |
| Retained Earnings | -$1.1B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$266M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $1.0B |
| Minority Interest | $287M |
| TOTAL EQUITY | $1.3B |
| TOTAL LIABILITIES & EQUITY | $5.3B |
| Total Debt | $1.8B |
| Net Debt | $1.3B |
