| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $724M | $700M | $708M | 3.4% | 2.2% |
| Op. Income | -$66M | -$705M | -$100M | 90.6% | 34.0% |
| Gross Margin | 44.3% | 47.9% | 46.1% | -3.7pp | -1.8pp |
| Net Margin | -18.1% | -104.7% | -25.2% | 86.7pp | 7.1pp |
| EPS (Diluted) | $-1.95 | $-10.78 | $-2.28 | 81.9% | 14.5% |
| Free Cash Flow | $87M | -$95M | $17M | 191.4% | 424.8% |
| Item | Amount |
|---|---|
| REVENUE | $724M |
| Cost of Revenue | $403M |
| GROSS PROFIT | $320M |
| R&D Expenses | $46M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $194M |
| Other Expenses | $147M |
| Operating Expenses | $387M |
| Cost & Expenses | $790M |
| OPERATING INCOME | -$66M |
| Interest Income | $3M |
| Interest Expense | $43M |
| Other Income/Expenses | -$46M |
| INCOME BEFORE TAX | -$112M |
| Income Tax Expense | $18M |
| Net Income from Continuing Ops | -$131M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$131M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$131M |
| D&A | $113M |
| EBIT | -$69M |
| EBITDA | $43M |
| EPS | -$2 |
| EPS Diluted | -$2 |
| Item | Amount |
|---|---|
| Net Income | -$131M |
| Depreciation & Amortization | $113M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $6M |
| Other Non-Cash Items | $15M |
| Change in Working Capital | $129M |
| OPERATING CASH FLOW | $132M |
| Capital Expenditure | -$45M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$4M |
| NET CASH FROM INVESTING | -$50M |
| Net Debt Issuance | -$11M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$400.0K |
| NET CASH FROM FINANCING | -$11M |
| FREE CASH FLOW | $87M |
| Net Change in Cash | $72M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $170M |
| Short-Term Investments | $32M |
| Net Receivables | $417M |
| Inventory | $578M |
| Other Current Assets | $0 |
| 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 | $244M |
| TOTAL NON-CURRENT ASSETS | $4.3B |
| TOTAL ASSETS | $5.8B |
| Account Payables | $279M |
| Short-Term Debt | $178M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $377M |
| TOTAL CURRENT LIABILITIES | $966M |
| Long-Term Debt | $2.5B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $90M |
| Other Non-Current Liabilities | $166M |
| TOTAL NON-CURRENT LIABILITIES | $2.9B |
| TOTAL LIABILITIES | $3.8B |
| Common Stock | $0 |
| Additional Paid-In Capital | $0 |
| Retained Earnings | $0 |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $1.9B |
| TOTAL STOCKHOLDERS' EQUITY | $1.9B |
| Minority Interest | $0 |
| TOTAL EQUITY | $1.9B |
| TOTAL LIABILITIES & EQUITY | $5.8B |
| Total Debt | $2.8B |
| Net Debt | $2.6B |
