| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $1.7B | — | $1.7B | — | -0.4% |
| Op. Income | -$63M | — | $47M | — | -232.6% |
| Gross Margin | 1.9% | — | 9.4% | — | -7.6pp |
| Net Margin | -5.1% | — | 0.6% | — | -5.8pp |
| EPS (Diluted) | $-0.75 | — | $0.09 | — | -922.4% |
| Free Cash Flow | $258M | — | $91M | — | 184.9% |
| Item | Amount |
|---|---|
| REVENUE | $1.7B |
| Cost of Revenue | $1.6B |
| GROSS PROFIT | $31M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $94M |
| Other Expenses | $0 |
| Operating Expenses | $94M |
| Cost & Expenses | $1.7B |
| OPERATING INCOME | -$63M |
| Interest Income | $400.0K |
| Interest Expense | $46M |
| Other Income/Expenses | -$60M |
| INCOME BEFORE TAX | -$123M |
| Income Tax Expense | -$37M |
| Net Income from Continuing Ops | -$86M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$86M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$86M |
| D&A | $126M |
| EBIT | -$77M |
| EBITDA | $49M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$86M |
| Depreciation & Amortization | $126M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | -$59M |
| Other Non-Cash Items | -$52M |
| Change in Working Capital | $393M |
| OPERATING CASH FLOW | $321M |
| Capital Expenditure | -$63M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$200.0K |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$94M |
| Net Debt Issuance | -$167M |
| Common Stock Repurchased | -$10M |
| Common Dividends Paid | -$23M |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | -$200M |
| FREE CASH FLOW | $258M |
| Net Change in Cash | $27M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $168M |
| Short-Term Investments | $0 |
| Net Receivables | $911M |
| Inventory | $785M |
| Other Current Assets | $108M |
| TOTAL CURRENT ASSETS | $2.0B |
| PP&E (Net) | $2.6B |
| Goodwill | $1.4B |
| Intangible Assets | $174M |
| Long-Term Investments | $0 |
| Tax Assets | $47M |
| Other Non-Current Assets | $1.2B |
| TOTAL NON-CURRENT ASSETS | $5.4B |
| TOTAL ASSETS | $7.3B |
| Account Payables | $806M |
| Short-Term Debt | $76M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $555M |
| TOTAL CURRENT LIABILITIES | $1.5B |
| Long-Term Debt | $3.1B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $335M |
| Other Non-Current Liabilities | $286M |
| TOTAL NON-CURRENT LIABILITIES | $3.9B |
| TOTAL LIABILITIES | $5.4B |
| Common Stock | $114M |
| Additional Paid-In Capital | $0 |
| Retained Earnings | $2.2B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$415M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $1.9B |
| Minority Interest | $32M |
| TOTAL EQUITY | $1.9B |
| TOTAL LIABILITIES & EQUITY | $7.3B |
| Total Debt | $3.4B |
| Net Debt | $3.2B |
