| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $700M | $614M | $727M | 14.0% | -3.7% |
| Op. Income | -$705M | -$181M | $15M | -290.0% | -4798.7% |
| Gross Margin | 47.9% | 44.8% | 48.5% | 3.2pp | -0.5pp |
| Net Margin | -104.7% | -41.6% | -2.7% | -63.1pp | -102.0pp |
| EPS (Diluted) | $-10.78 | $-3.77 | $-0.30 | -185.9% | -3493.3% |
| Free Cash Flow | -$95M | -$40M | $71M | -135.0% | -232.6% |
| Item | Amount |
|---|---|
| REVENUE | $700M |
| Cost of Revenue | $364M |
| GROSS PROFIT | $336M |
| R&D Expenses | $42M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $187M |
| Other Expenses | $812M |
| Operating Expenses | $1.0B |
| Cost & Expenses | $1.4B |
| OPERATING INCOME | -$705M |
| Interest Income | $0 |
| Interest Expense | $46M |
| Other Income/Expenses | -$52M |
| INCOME BEFORE TAX | -$757M |
| Income Tax Expense | -$24M |
| Net Income from Continuing Ops | -$733M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$733M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$733M |
| D&A | $112M |
| EBIT | -$709M |
| EBITDA | -$597M |
| EPS | -$11 |
| EPS Diluted | -$11 |
| Item | Amount |
|---|---|
| Net Income | -$733M |
| Depreciation & Amortization | $112M |
| Stock-Based Compensation | $11M |
| Deferred Income Tax | -$1M |
| Other Non-Cash Items | $701M |
| Change in Working Capital | -$135M |
| OPERATING CASH FLOW | -$46M |
| Capital Expenditure | -$49M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$5M |
| NET CASH FROM INVESTING | -$54M |
| Net Debt Issuance | $44M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$900.0K |
| NET CASH FROM FINANCING | $46M |
| FREE CASH FLOW | -$95M |
| Net Change in Cash | -$54M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $98M |
| Short-Term Investments | $0 |
| Net Receivables | $513M |
| Inventory | $614M |
| Other Current Assets | $70M |
| TOTAL CURRENT ASSETS | $1.4B |
| PP&E (Net) | $1.5B |
| Goodwill | $0 |
| Intangible Assets | $2.6B |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $220M |
| TOTAL NON-CURRENT ASSETS | $4.3B |
| TOTAL ASSETS | $5.7B |
| Account Payables | $214M |
| Short-Term Debt | $163M |
| Deferred Revenue | $34M |
| Other Current Liabilities | $116M |
| TOTAL CURRENT LIABILITIES | $768M |
| Long-Term Debt | $2.5B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $80M |
| Other Non-Current Liabilities | $139M |
| TOTAL NON-CURRENT LIABILITIES | $2.9B |
| TOTAL LIABILITIES | $3.6B |
| Common Stock | $100.0K |
| Additional Paid-In Capital | $2.9B |
| Retained Earnings | -$865M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$20M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $2.0B |
| Minority Interest | $0 |
| TOTAL EQUITY | $2.0B |
| TOTAL LIABILITIES & EQUITY | $5.7B |
| Total Debt | $2.8B |
| Net Debt | $2.7B |
