| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $349M | — | $342M | — | 2.1% |
| Op. Income | $28M | — | $28M | — | -1.3% |
| Gross Margin | 14.0% | — | 82.4% | — | -68.4pp |
| Net Margin | -8.8% | — | 3.2% | — | -12.0pp |
| EPS (Diluted) | $-2.35 | — | $0.77 | — | -403.8% |
| Free Cash Flow | $33M | — | $76M | — | -57.0% |
| Item | Amount |
|---|---|
| REVENUE | $349M |
| Cost of Revenue | $300M |
| GROSS PROFIT | $49M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $21M |
| Other Expenses | $0 |
| Operating Expenses | $21M |
| Cost & Expenses | $322M |
| OPERATING INCOME | $28M |
| Interest Income | $0 |
| Interest Expense | $9M |
| Other Income/Expenses | -$61M |
| INCOME BEFORE TAX | -$33M |
| Income Tax Expense | -$3M |
| Net Income from Continuing Ops | -$31M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$31M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$31M |
| D&A | $65M |
| EBIT | $28M |
| EBITDA | $92M |
| EPS | -$2 |
| EPS Diluted | -$2 |
| Item | Amount |
|---|---|
| Net Income | -$31M |
| Depreciation & Amortization | $65M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | -$3M |
| Other Non-Cash Items | $60M |
| Change in Working Capital | $996.0K |
| OPERATING CASH FLOW | $92M |
| Capital Expenditure | -$59M |
| Acquisitions (Net) | $13M |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $8M |
| NET CASH FROM INVESTING | -$39M |
| Net Debt Issuance | -$14.6K |
| Common Stock Repurchased | -$16M |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$3M |
| NET CASH FROM FINANCING | -$18M |
| FREE CASH FLOW | $33M |
| Net Change in Cash | $35M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $63M |
| Short-Term Investments | $0 |
| Net Receivables | $257M |
| Inventory | $36M |
| Other Current Assets | $2 |
| TOTAL CURRENT ASSETS | $356M |
| PP&E (Net) | $1.6B |
| Goodwill | $7M |
| Intangible Assets | $0 |
| Long-Term Investments | $3M |
| Tax Assets | $2M |
| Other Non-Current Assets | $6M |
| TOTAL NON-CURRENT ASSETS | $1.6B |
| TOTAL ASSETS | $2.0B |
| Account Payables | $205M |
| Short-Term Debt | $13M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $219M |
| Long-Term Debt | $530M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $66M |
| Other Non-Current Liabilities | -$19M |
| TOTAL NON-CURRENT LIABILITIES | $612M |
| TOTAL LIABILITIES | $831M |
| Common Stock | $1.6B |
| Additional Paid-In Capital | $58M |
| Retained Earnings | -$656M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $120M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $1.2B |
| Minority Interest | $4M |
| TOTAL EQUITY | $1.2B |
| TOTAL LIABILITIES & EQUITY | $2.0B |
| Total Debt | $578M |
| Net Debt | $515M |
