| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $723M | $640M | $515M | 13.0% | 40.3% |
| Op. Income | $26M | -$60M | $23M | 143.3% | 12.6% |
| Gross Margin | 42.9% | 43.7% | 42.0% | -0.8pp | 0.9pp |
| Net Margin | 4.0% | -34.9% | 3.5% | 38.8pp | 0.4pp |
| EPS (Diluted) | $0.16 | $-1.27 | $0.10 | 112.6% | 60.0% |
| Free Cash Flow | $3M | $36M | — | -91.0% | — |
| Item | Amount |
|---|---|
| REVENUE | $723M |
| Cost of Revenue | $413M |
| GROSS PROFIT | $310M |
| R&D Expenses | $10M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $274M |
| Other Expenses | $0 |
| Operating Expenses | $284M |
| Cost & Expenses | $697M |
| OPERATING INCOME | $26M |
| Interest Income | $2M |
| Interest Expense | $0 |
| Other Income/Expenses | $2M |
| INCOME BEFORE TAX | $28M |
| Income Tax Expense | -$838.0K |
| Net Income from Continuing Ops | $29M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $29M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $29M |
| D&A | $4M |
| EBIT | $26M |
| EBITDA | $30M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $723M |
| Cost of Revenue | $413M |
| GROSS PROFIT | $310M |
| R&D Expenses | $10M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $274M |
| Other Expenses | $0 |
| Operating Expenses | $284M |
| Cost & Expenses | $697M |
| OPERATING INCOME | $26M |
| Interest Income | $2M |
| Interest Expense | $0 |
| Other Income/Expenses | $2M |
| INCOME BEFORE TAX | $28M |
| Income Tax Expense | -$838.0K |
| Net Income from Continuing Ops | $29M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $29M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $29M |
| D&A | $4M |
| EBIT | $26M |
| EBITDA | $30M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $29M |
| Depreciation & Amortization | $4M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | -$3M |
| Other Non-Cash Items | $13M |
| Change in Working Capital | -$34M |
| OPERATING CASH FLOW | $8M |
| Capital Expenditure | -$5M |
| Acquisitions (Net) | -$19M |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$25M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$8M |
| NET CASH FROM FINANCING | -$8M |
| FREE CASH FLOW | $3M |
| Net Change in Cash | -$24M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $289M |
| Short-Term Investments | $0 |
| Net Receivables | $177M |
| Inventory | $295M |
| Other Current Assets | $32M |
| TOTAL CURRENT ASSETS | $793M |
| PP&E (Net) | $69M |
| Goodwill | $38M |
| Intangible Assets | $17M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $31M |
| TOTAL NON-CURRENT ASSETS | $155M |
| TOTAL ASSETS | $948M |
| Account Payables | $275M |
| Short-Term Debt | $9M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $55M |
| TOTAL CURRENT LIABILITIES | $339M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $6M |
| TOTAL NON-CURRENT LIABILITIES | $28M |
| TOTAL LIABILITIES | $367M |
| Common Stock | $177.0K |
| Additional Paid-In Capital | $552M |
| Retained Earnings | $29M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $448.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $581M |
| Minority Interest | $0 |
| TOTAL EQUITY | $581M |
| TOTAL LIABILITIES & EQUITY | $948M |
| Total Debt | $31M |
| Net Debt | -$258M |
