| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $2.2B | $2.1B | $2.2B | 3.5% | -2.3% |
| Op. Income | $398M | -$1.2B | $341M | 134.1% | 16.7% |
| Gross Margin | 69.5% | 69.7% | 67.7% | -0.1pp | 1.8pp |
| Net Margin | -3.3% | -77.1% | -2.4% | 73.9pp | -0.8pp |
| EPS (Diluted) | $-0.15 | $-3.47 | $-0.12 | 95.7% | -25.0% |
| Free Cash Flow | $199M | -$179M | $50M | 211.6% | 299.8% |
| Item | Amount |
|---|---|
| REVENUE | $2.2B |
| Cost of Revenue | $665M |
| GROSS PROFIT | $1.5B |
| R&D Expenses | $0 |
| Selling & Marketing | $253M |
| General & Administrative | -$44M |
| SG&A Expenses | $210M |
| Other Expenses | $911M |
| Operating Expenses | $1.1B |
| Cost & Expenses | $1.8B |
| OPERATING INCOME | $398M |
| Interest Income | $0 |
| Interest Expense | $460M |
| Other Income/Expenses | -$481M |
| INCOME BEFORE TAX | -$84M |
| Income Tax Expense | -$32M |
| Net Income from Continuing Ops | -$52M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$71M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$71M |
| D&A | $453M |
| EBIT | $2.1B |
| EBITDA | $2.5B |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$71M |
| Depreciation & Amortization | $464M |
| Stock-Based Compensation | $20M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $44M |
| Change in Working Capital | $24M |
| OPERATING CASH FLOW | $482M |
| Capital Expenditure | -$282M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$972.0K |
| NET CASH FROM INVESTING | -$283M |
| Net Debt Issuance | $12M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$113M |
| NET CASH FROM FINANCING | -$101M |
| FREE CASH FLOW | $199M |
| Net Change in Cash | $98M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $1.1B |
| Short-Term Investments | $0 |
| Net Receivables | $336M |
| Inventory | $0 |
| Other Current Assets | $189M |
| TOTAL CURRENT ASSETS | $1.6B |
| PP&E (Net) | $0 |
| Goodwill | $8.0B |
| Intangible Assets | $12.3B |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $8.7B |
| TOTAL NON-CURRENT ASSETS | $29.1B |
| TOTAL ASSETS | $30.7B |
| Account Payables | $817M |
| Short-Term Debt | $38M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $1.1B |
| TOTAL CURRENT LIABILITIES | $2.1B |
| Long-Term Debt | $26.1B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $4.2B |
| Other Non-Current Liabilities | $316M |
| TOTAL NON-CURRENT LIABILITIES | $30.9B |
| TOTAL LIABILITIES | $33.0B |
| Common Stock | $5M |
| Additional Paid-In Capital | $253M |
| Retained Earnings | -$2.6B |
| Treasury Stock | -$10.0K |
| Accum. Other Comp. Income | $2M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | -$2.3B |
| Minority Interest | $22M |
| TOTAL EQUITY | -$2.3B |
| TOTAL LIABILITIES & EQUITY | $30.7B |
| Total Debt | $26.5B |
| Net Debt | $25.3B |
