| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $666M | $592M | $476M | 12.4% | 39.8% |
| Op. Income | -$23M | -$98M | -$65M | 76.6% | 64.8% |
| Gross Margin | 67.1% | 64.9% | 62.9% | 2.2pp | 4.2pp |
| Net Margin | 7.1% | -14.8% | -11.3% | 21.9pp | 18.4pp |
| EPS (Diluted) | $0.35 | $-0.64 | $-0.41 | 154.7% | 185.4% |
| Free Cash Flow | $38M | $24M | $35M | 54.5% | 8.8% |
| Item | Amount |
|---|---|
| REVENUE | $666M |
| Cost of Revenue | $219M |
| GROSS PROFIT | $447M |
| R&D Expenses | $175M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $291M |
| Other Expenses | $3M |
| Operating Expenses | $470M |
| Cost & Expenses | $688M |
| OPERATING INCOME | -$23M |
| Interest Income | $24M |
| Interest Expense | $7M |
| Other Income/Expenses | $9M |
| INCOME BEFORE TAX | -$13M |
| Income Tax Expense | -$61M |
| Net Income from Continuing Ops | $47M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $47M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $47M |
| D&A | -$29M |
| EBIT | -$6M |
| EBITDA | -$35M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $47M |
| Depreciation & Amortization | $0 |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $51M |
| Change in Working Capital | -$24M |
| OPERATING CASH FLOW | $74M |
| Capital Expenditure | -$36M |
| Acquisitions (Net) | -$16M |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $1M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$72M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $32M |
| FREE CASH FLOW | $38M |
| Net Change in Cash | $35M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $1.1B |
| Short-Term Investments | $0 |
| Net Receivables | $297M |
| Inventory | $68M |
| Other Current Assets | $56M |
| TOTAL CURRENT ASSETS | $1.5B |
| PP&E (Net) | $350M |
| Goodwill | $141M |
| Intangible Assets | $374M |
| Long-Term Investments | $0 |
| Tax Assets | $110M |
| Other Non-Current Assets | $37M |
| TOTAL NON-CURRENT ASSETS | $1.0B |
| TOTAL ASSETS | $2.5B |
| Account Payables | $33M |
| Short-Term Debt | $96M |
| Deferred Revenue | $25M |
| Other Current Liabilities | $186M |
| TOTAL CURRENT LIABILITIES | $441M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $17M |
| Deferred Tax Liabilities | $110M |
| Other Non-Current Liabilities | $108M |
| TOTAL NON-CURRENT LIABILITIES | $354M |
| TOTAL LIABILITIES | $796M |
| Common Stock | $14.0K |
| Additional Paid-In Capital | $4.5B |
| Retained Earnings | -$2.8B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$258.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $1.7B |
| Minority Interest | $0 |
| TOTAL EQUITY | $1.7B |
| TOTAL LIABILITIES & EQUITY | $2.5B |
| Total Debt | $214M |
| Net Debt | -$862M |
