| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $726M | $1.0B | $761M | -30.5% | -4.6% |
| Op. Income | $138M | $341M | $182M | -59.5% | -24.1% |
| Gross Margin | 41.9% | 62.8% | 44.7% | -20.9pp | -2.8pp |
| Net Margin | 9.5% | 22.1% | 13.4% | -12.6pp | -3.9pp |
| EPS (Diluted) | $0.34 | $1.14 | $0.51 | -70.2% | -33.3% |
| Free Cash Flow | $83M | $921M | -$167M | -91.0% | 149.8% |
| Item | Amount |
|---|---|
| REVENUE | $726M |
| Cost of Revenue | $421M |
| GROSS PROFIT | $304M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $139M |
| Other Expenses | $27M |
| Operating Expenses | $166M |
| Cost & Expenses | $588M |
| OPERATING INCOME | $138M |
| Interest Income | $0 |
| Interest Expense | -$146M |
| Other Income/Expenses | -$57M |
| INCOME BEFORE TAX | $81M |
| Income Tax Expense | $12M |
| Net Income from Continuing Ops | $69M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $69M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $69M |
| D&A | $135M |
| EBIT | $138M |
| EBITDA | $273M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $726M |
| Cost of Revenue | $421M |
| GROSS PROFIT | $304M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $139M |
| Other Expenses | $27M |
| Operating Expenses | $166M |
| Cost & Expenses | $588M |
| OPERATING INCOME | $138M |
| Interest Income | $0 |
| Interest Expense | -$146M |
| Other Income/Expenses | -$57M |
| INCOME BEFORE TAX | $81M |
| Income Tax Expense | $12M |
| Net Income from Continuing Ops | $69M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $69M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $69M |
| D&A | $135M |
| EBIT | $138M |
| EBITDA | $273M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $69M |
| Depreciation & Amortization | $135M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $46M |
| Other Non-Cash Items | -$25M |
| Change in Working Capital | $160M |
| OPERATING CASH FLOW | $385M |
| Capital Expenditure | -$302M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$72M |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $54M |
| NET CASH FROM INVESTING | -$320M |
| Net Debt Issuance | -$174M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | -$86M |
| Other Financing Activities | $7M |
| NET CASH FROM FINANCING | -$65M |
| FREE CASH FLOW | $83M |
| Net Change in Cash | -$100.0K |
| Item | Amount |
|---|---|
| Cash & Equivalents | $200.0K |
| Short-Term Investments | $0 |
| Net Receivables | $461M |
| Inventory | $0 |
| Other Current Assets | $396M |
| TOTAL CURRENT ASSETS | $858M |
| PP&E (Net) | $0 |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $13.5B |
| TOTAL NON-CURRENT ASSETS | $13.5B |
| TOTAL ASSETS | $14.4B |
| Account Payables | $351M |
| Short-Term Debt | $292M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $344M |
| TOTAL CURRENT LIABILITIES | $1.1B |
| Long-Term Debt | $5.4B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $1.5B |
| Other Non-Current Liabilities | $1.4B |
| TOTAL NON-CURRENT LIABILITIES | $8.3B |
| TOTAL LIABILITIES | $9.4B |
| Common Stock | $1.4B |
| Additional Paid-In Capital | $0 |
| Retained Earnings | $3.6B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$3M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $5.0B |
| Minority Interest | $0 |
| TOTAL EQUITY | $5.0B |
| TOTAL LIABILITIES & EQUITY | $14.4B |
| Total Debt | $5.7B |
| Net Debt | $5.7B |
