| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $669M | $743M | $713M | -10.0% | -6.3% |
| Op. Income | $65M | $87M | $78M | -24.4% | -16.0% |
| Gross Margin | 19.8% | 20.6% | 19.9% | -0.8pp | -0.1pp |
| Net Margin | 26.6% | 9.6% | 7.9% | 17.0pp | 18.7pp |
| EPS (Diluted) | $1.76 | $0.71 | $-0.89 | 147.9% | 297.8% |
| Free Cash Flow | $191M | $77M | $95M | 147.5% | 101.8% |
| Item | Amount |
|---|---|
| REVENUE | $669M |
| Cost of Revenue | $536M |
| GROSS PROFIT | $132M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $67M |
| Operating Expenses | $67M |
| Cost & Expenses | $603M |
| OPERATING INCOME | $65M |
| Interest Income | $1M |
| Interest Expense | $17M |
| Other Income/Expenses | -$7M |
| INCOME BEFORE TAX | $58M |
| Income Tax Expense | -$119M |
| Net Income from Continuing Ops | $178M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $178M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $178M |
| D&A | $26M |
| EBIT | $76M |
| EBITDA | $102M |
| EPS | $2 |
| EPS Diluted | $2 |
| Item | Amount |
|---|---|
| REVENUE | $669M |
| Cost of Revenue | $536M |
| GROSS PROFIT | $132M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $67M |
| Operating Expenses | $67M |
| Cost & Expenses | $603M |
| OPERATING INCOME | $65M |
| Interest Income | $1M |
| Interest Expense | $17M |
| Other Income/Expenses | -$7M |
| INCOME BEFORE TAX | $58M |
| Income Tax Expense | -$119M |
| Net Income from Continuing Ops | $178M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $178M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $178M |
| D&A | $26M |
| EBIT | $76M |
| EBITDA | $102M |
| EPS | $2 |
| EPS Diluted | $2 |
| Item | Amount |
|---|---|
| Net Income | $178M |
| Depreciation & Amortization | $26M |
| Stock-Based Compensation | $14M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$147M |
| Change in Working Capital | $150M |
| OPERATING CASH FLOW | $221M |
| Capital Expenditure | -$30M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $3M |
| NET CASH FROM INVESTING | -$28M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | -$10M |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | -$10M |
| FREE CASH FLOW | $191M |
| Net Change in Cash | $183M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $689M |
| Short-Term Investments | $0 |
| Net Receivables | $0 |
| Inventory | $0 |
| Other Current Assets | $824M |
| TOTAL CURRENT ASSETS | $1.5B |
| PP&E (Net) | $452M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $703M |
| TOTAL NON-CURRENT ASSETS | $1.2B |
| TOTAL ASSETS | $2.7B |
| Account Payables | $0 |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $762M |
| TOTAL CURRENT LIABILITIES | $762M |
| Long-Term Debt | $487M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $341M |
| TOTAL NON-CURRENT LIABILITIES | $829M |
| TOTAL LIABILITIES | $1.6B |
| Common Stock | $0 |
| Additional Paid-In Capital | $0 |
| Retained Earnings | $0 |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $1.1B |
| TOTAL STOCKHOLDERS' EQUITY | $1.1B |
| Minority Interest | $0 |
| TOTAL EQUITY | $1.1B |
| TOTAL LIABILITIES & EQUITY | $2.7B |
| Total Debt | $487M |
| Net Debt | -$201M |
