| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $532M | $730M | $417M | -27.1% | 27.4% |
| Op. Income | $230M | $317M | -$51M | -27.4% | 547.6% |
| Gross Margin | 47.8% | 46.9% | 40.8% | 0.9pp | 7.0pp |
| Net Margin | 28.2% | 29.6% | -13.0% | -1.5pp | 41.1pp |
| EPS (Diluted) | $1.64 | $2.37 | $-0.59 | -30.8% | 378.0% |
| Free Cash Flow | $195M | $60M | $80M | 225.9% | 145.7% |
| Item | Amount |
|---|---|
| REVENUE | $532M |
| Cost of Revenue | $277M |
| GROSS PROFIT | $254M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $24M |
| Operating Expenses | $24M |
| Cost & Expenses | $302M |
| OPERATING INCOME | $230M |
| Interest Income | $0 |
| Interest Expense | $38M |
| Other Income/Expenses | -$29M |
| INCOME BEFORE TAX | $201M |
| Income Tax Expense | $51M |
| Net Income from Continuing Ops | $150M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $150M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $150M |
| D&A | $116M |
| EBIT | $239M |
| EBITDA | $355M |
| EPS | $2 |
| EPS Diluted | $2 |
| Item | Amount |
|---|---|
| REVENUE | $532M |
| Cost of Revenue | $277M |
| GROSS PROFIT | $254M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $24M |
| Operating Expenses | $24M |
| Cost & Expenses | $302M |
| OPERATING INCOME | $230M |
| Interest Income | $0 |
| Interest Expense | $38M |
| Other Income/Expenses | -$29M |
| INCOME BEFORE TAX | $201M |
| Income Tax Expense | $51M |
| Net Income from Continuing Ops | $150M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $150M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $150M |
| D&A | $116M |
| EBIT | $239M |
| EBITDA | $355M |
| EPS | $2 |
| EPS Diluted | $2 |
| Item | Amount |
|---|---|
| Net Income | $150M |
| Depreciation & Amortization | $116M |
| Stock-Based Compensation | $5M |
| Deferred Income Tax | $35M |
| Other Non-Cash Items | $5M |
| Change in Working Capital | $77M |
| OPERATING CASH FLOW | $388M |
| Capital Expenditure | -$193M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $471.0K |
| NET CASH FROM INVESTING | -$193M |
| Net Debt Issuance | -$197M |
| Common Stock Repurchased | -$4M |
| Common Dividends Paid | -$47M |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | -$248M |
| FREE CASH FLOW | $195M |
| Net Change in Cash | -$52M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $39M |
| Short-Term Investments | $0 |
| Net Receivables | $252M |
| Inventory | $67M |
| Other Current Assets | $28M |
| TOTAL CURRENT ASSETS | $408M |
| PP&E (Net) | $7.5B |
| Goodwill | $5M |
| Intangible Assets | $0 |
| Long-Term Investments | $74M |
| Tax Assets | $0 |
| Other Non-Current Assets | $503M |
| TOTAL NON-CURRENT ASSETS | $8.0B |
| TOTAL ASSETS | $8.4B |
| Account Payables | $123M |
| Short-Term Debt | $362M |
| Deferred Revenue | $29M |
| Other Current Liabilities | $190M |
| TOTAL CURRENT LIABILITIES | $890M |
| Long-Term Debt | $2.4B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $1.2B |
| Other Non-Current Liabilities | $1.0B |
| TOTAL NON-CURRENT LIABILITIES | $4.6B |
| TOTAL LIABILITIES | $5.5B |
| Common Stock | $90M |
| Additional Paid-In Capital | $1.0B |
| Retained Earnings | $2.0B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$116M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $3.0B |
| Minority Interest | $0 |
| TOTAL EQUITY | $3.0B |
| TOTAL LIABILITIES & EQUITY | $8.4B |
| Total Debt | $2.7B |
| Net Debt | $2.7B |
