| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $1.1B | $1.8B | — | -38.0% | — |
| Op. Income | $145M | $649M | — | -77.7% | — |
| Gross Margin | 18.3% | 38.9% | — | -20.6pp | — |
| Net Margin | 1.4% | 22.7% | — | -21.3pp | — |
| EPS (Diluted) | $0.12 | $3.39 | — | -96.5% | — |
| Free Cash Flow | -$193M | $42M | — | -559.4% | — |
| Item | Amount |
|---|---|
| REVENUE | $1.1B |
| Cost of Revenue | $922M |
| GROSS PROFIT | $206M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $61M |
| Operating Expenses | $61M |
| Cost & Expenses | $983M |
| OPERATING INCOME | $145M |
| Interest Income | $3M |
| Interest Expense | $114M |
| Other Income/Expenses | -$127M |
| INCOME BEFORE TAX | $18M |
| Income Tax Expense | -$3.0K |
| Net Income from Continuing Ops | $18M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $15M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $15M |
| D&A | $238M |
| EBIT | $132M |
| EBITDA | $370M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $1.1B |
| Cost of Revenue | $922M |
| GROSS PROFIT | $206M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $61M |
| Operating Expenses | $61M |
| Cost & Expenses | $983M |
| OPERATING INCOME | $145M |
| Interest Income | $3M |
| Interest Expense | $114M |
| Other Income/Expenses | -$127M |
| INCOME BEFORE TAX | $18M |
| Income Tax Expense | -$3.0K |
| Net Income from Continuing Ops | $18M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $15M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $15M |
| D&A | $238M |
| EBIT | $132M |
| EBITDA | $370M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $15M |
| Depreciation & Amortization | $238M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $28M |
| Other Non-Cash Items | $49M |
| Change in Working Capital | $147M |
| OPERATING CASH FLOW | $477M |
| Capital Expenditure | -$670M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$481M |
| Sales/Maturities of Investments | $480M |
| Other Investing Activities | $125M |
| NET CASH FROM INVESTING | -$546M |
| Net Debt Issuance | $81M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | -$107M |
| Other Financing Activities | -$5M |
| NET CASH FROM FINANCING | $44M |
| FREE CASH FLOW | -$193M |
| Net Change in Cash | -$24M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $7M |
| Short-Term Investments | $3M |
| Net Receivables | $734M |
| Inventory | $565M |
| Other Current Assets | $246M |
| TOTAL CURRENT ASSETS | $1.6B |
| PP&E (Net) | $23.8B |
| Goodwill | $0 |
| Intangible Assets | $576M |
| Long-Term Investments | $1.9B |
| Tax Assets | $1.7B |
| Other Non-Current Assets | $2.3B |
| TOTAL NON-CURRENT ASSETS | $30.1B |
| TOTAL ASSETS | $31.7B |
| Account Payables | $680M |
| Short-Term Debt | $1.5B |
| Deferred Revenue | $0 |
| Other Current Liabilities | $749M |
| TOTAL CURRENT LIABILITIES | $3.2B |
| Long-Term Debt | $12.8B |
| Deferred Revenue NC | $632M |
| Deferred Tax Liabilities | $4.4B |
| Other Non-Current Liabilities | $70M |
| TOTAL NON-CURRENT LIABILITIES | $21.4B |
| TOTAL LIABILITIES | $24.6B |
| Common Stock | $3.2B |
| Additional Paid-In Capital | $0 |
| Retained Earnings | $3.9B |
| Treasury Stock | -$3M |
| Accum. Other Comp. Income | -$32M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $7.0B |
| Minority Interest | $41M |
| TOTAL EQUITY | $7.1B |
| TOTAL LIABILITIES & EQUITY | $31.7B |
| Total Debt | $17.8B |
| Net Debt | $17.8B |
