| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $1.2B | $855M | $815M | 40.1% | 46.9% |
| Op. Income | $469M | $250M | $255M | 87.8% | 84.2% |
| Gross Margin | 47.2% | 36.6% | 22.7% | 10.6pp | 24.5pp |
| Net Margin | 38.3% | 19.7% | 13.2% | 18.6pp | 25.1pp |
| EPS (Diluted) | $1.09 | $0.44 | $0.30 | 147.7% | 263.3% |
| Free Cash Flow | $514M | $218M | $189M | 136.2% | 172.4% |
| Item | Amount |
|---|---|
| REVENUE | $1.2B |
| Cost of Revenue | $632M |
| GROSS PROFIT | $565M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $39M |
| Other Expenses | $57M |
| Operating Expenses | $96M |
| Cost & Expenses | $728M |
| OPERATING INCOME | $469M |
| Interest Income | $52M |
| Interest Expense | $16M |
| Other Income/Expenses | $80M |
| INCOME BEFORE TAX | $549M |
| Income Tax Expense | $90M |
| Net Income from Continuing Ops | $459M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $458M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $458M |
| D&A | $143M |
| EBIT | $469M |
| EBITDA | $612M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| REVENUE | $1.2B |
| Cost of Revenue | $632M |
| GROSS PROFIT | $565M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $39M |
| Other Expenses | $57M |
| Operating Expenses | $96M |
| Cost & Expenses | $728M |
| OPERATING INCOME | $469M |
| Interest Income | $52M |
| Interest Expense | $16M |
| Other Income/Expenses | $80M |
| INCOME BEFORE TAX | $549M |
| Income Tax Expense | $90M |
| Net Income from Continuing Ops | $459M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $458M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $458M |
| D&A | $143M |
| EBIT | $469M |
| EBITDA | $612M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $458M |
| Depreciation & Amortization | $143M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | -$49M |
| Other Non-Cash Items | $22M |
| Change in Working Capital | $36M |
| OPERATING CASH FLOW | $610M |
| Capital Expenditure | -$96M |
| Acquisitions (Net) | -$30M |
| Purchases of Investments | -$54M |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $10M |
| NET CASH FROM INVESTING | -$170M |
| Net Debt Issuance | -$2M |
| Common Stock Repurchased | -$15M |
| Common Dividends Paid | -$60M |
| Other Financing Activities | -$14M |
| NET CASH FROM FINANCING | -$91M |
| FREE CASH FLOW | $514M |
| Net Change in Cash | $343M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $1.2B |
| Short-Term Investments | $104M |
| Net Receivables | $256M |
| Inventory | $587M |
| Other Current Assets | $4M |
| TOTAL CURRENT ASSETS | $2.2B |
| PP&E (Net) | $5.3B |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $2.0B |
| Tax Assets | $83M |
| Other Non-Current Assets | $155M |
| TOTAL NON-CURRENT ASSETS | $7.5B |
| TOTAL ASSETS | $9.7B |
| Account Payables | $314M |
| Short-Term Debt | $58M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $123M |
| TOTAL CURRENT LIABILITIES | $816M |
| Long-Term Debt | $793M |
| Deferred Revenue NC | $13M |
| Deferred Tax Liabilities | $434M |
| Other Non-Current Liabilities | $596M |
| TOTAL NON-CURRENT LIABILITIES | $1.9B |
| TOTAL LIABILITIES | $2.7B |
| Common Stock | $7.4B |
| Additional Paid-In Capital | $0 |
| Retained Earnings | -$512M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $62M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $7.0B |
| Minority Interest | $4M |
| TOTAL EQUITY | $7.0B |
| TOTAL LIABILITIES & EQUITY | $9.7B |
| Total Debt | $935M |
| Net Debt | -$277M |
