| Metric | Q1 2026 | Q4 2025 | Q1 2025 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $385M | $505M | $344M | -23.8% | 11.8% |
| Op. Income | $33M | $73M | $30M | -54.7% | 9.1% |
| Gross Margin | 32.0% | 33.3% | 35.3% | -1.3pp | -3.3pp |
| Net Margin | 5.3% | 10.4% | 5.2% | -5.1pp | 0.1pp |
| EPS (Diluted) | $1.18 | $3.03 | $1.05 | -61.1% | 12.4% |
| Free Cash Flow | $6M | -$10M | -$49M | 158.7% | 111.6% |
| Item | Amount |
|---|---|
| REVENUE | $385M |
| Cost of Revenue | $261M |
| GROSS PROFIT | $123M |
| R&D Expenses | $20M |
| Selling & Marketing | $0 |
| General & Administrative | $67M |
| SG&A Expenses | $67M |
| Other Expenses | $3M |
| Operating Expenses | $90M |
| Cost & Expenses | $352M |
| OPERATING INCOME | $33M |
| Interest Income | $0 |
| Interest Expense | $7M |
| Other Income/Expenses | -$7M |
| INCOME BEFORE TAX | $26M |
| Income Tax Expense | $5M |
| Net Income from Continuing Ops | $21M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $21M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $21M |
| D&A | $10M |
| EBIT | $33M |
| EBITDA | $43M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| REVENUE | $385M |
| Cost of Revenue | $261M |
| GROSS PROFIT | $123M |
| R&D Expenses | $20M |
| Selling & Marketing | $0 |
| General & Administrative | $67M |
| SG&A Expenses | $67M |
| Other Expenses | $3M |
| Operating Expenses | $90M |
| Cost & Expenses | $352M |
| OPERATING INCOME | $33M |
| Interest Income | $0 |
| Interest Expense | $7M |
| Other Income/Expenses | -$7M |
| INCOME BEFORE TAX | $26M |
| Income Tax Expense | $5M |
| Net Income from Continuing Ops | $21M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $21M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $21M |
| D&A | $10M |
| EBIT | $33M |
| EBITDA | $43M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $21M |
| Depreciation & Amortization | $10M |
| Stock-Based Compensation | $6M |
| Deferred Income Tax | $18.0K |
| Other Non-Cash Items | $2M |
| Change in Working Capital | -$22M |
| OPERATING CASH FLOW | $17M |
| Capital Expenditure | -$11M |
| Acquisitions (Net) | -$92.0K |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$4M |
| NET CASH FROM INVESTING | -$11M |
| Net Debt Issuance | $44M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$35M |
| NET CASH FROM FINANCING | $12M |
| FREE CASH FLOW | $6M |
| Net Change in Cash | $18M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $124M |
| Short-Term Investments | $0 |
| Net Receivables | $828M |
| Inventory | $454M |
| Other Current Assets | $71M |
| TOTAL CURRENT ASSETS | $1.5B |
| PP&E (Net) | $128M |
| Goodwill | $385M |
| Intangible Assets | $183M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $125M |
| TOTAL NON-CURRENT ASSETS | $822M |
| TOTAL ASSETS | $2.3B |
| Account Payables | $217M |
| Short-Term Debt | $257M |
| Deferred Revenue | $154M |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $792M |
| Long-Term Debt | $437M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $1M |
| Other Non-Current Liabilities | $123M |
| TOTAL NON-CURRENT LIABILITIES | $562M |
| TOTAL LIABILITIES | $1.4B |
| Common Stock | $4M |
| Additional Paid-In Capital | $0 |
| Retained Earnings | $963M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$21M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $946M |
| Minority Interest | $0 |
| TOTAL EQUITY | $946M |
| TOTAL LIABILITIES & EQUITY | $2.3B |
| Total Debt | $694M |
| Net Debt | $570M |
