| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $426M | $447M | $335M | -4.8% | 27.0% |
| Op. Income | $8M | $21M | $11M | -60.9% | -22.7% |
| Gross Margin | -16.9% | 25.1% | 25.4% | -42.1pp | -42.3pp |
| Net Margin | -0.7% | 2.9% | 3.8% | -3.6pp | -4.5pp |
| EPS (Diluted) | $-0.01 | $0.06 | $0.06 | -124.0% | -124.9% |
| Free Cash Flow | $31M | $4M | $54M | 667.8% | -41.8% |
| Item | Amount |
|---|---|
| REVENUE | $426M |
| Cost of Revenue | $498M |
| GROSS PROFIT | -$72M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $48M |
| Other Expenses | -$128M |
| Operating Expenses | -$80M |
| Cost & Expenses | $418M |
| OPERATING INCOME | $8M |
| Interest Income | $2M |
| Interest Expense | $942.0K |
| Other Income/Expenses | -$8M |
| INCOME BEFORE TAX | $148.0K |
| Income Tax Expense | $3M |
| Net Income from Continuing Ops | -$3M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$3M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$3M |
| D&A | $39M |
| EBIT | $1M |
| EBITDA | $40M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$3M |
| Depreciation & Amortization | $39M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $7M |
| Other Non-Cash Items | $11M |
| Change in Working Capital | $9M |
| OPERATING CASH FLOW | $62M |
| Capital Expenditure | -$31M |
| Acquisitions (Net) | $16M |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $9M |
| NET CASH FROM INVESTING | -$6M |
| Net Debt Issuance | -$337.0K |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | -$9M |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | -$9M |
| FREE CASH FLOW | $31M |
| Net Change in Cash | $47M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $210M |
| Short-Term Investments | $0 |
| Net Receivables | $334M |
| Inventory | $119M |
| Other Current Assets | $42M |
| TOTAL CURRENT ASSETS | $704M |
| PP&E (Net) | $558M |
| Goodwill | $83M |
| Intangible Assets | $97M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $25M |
| TOTAL NON-CURRENT ASSETS | $764M |
| TOTAL ASSETS | $1.5B |
| Account Payables | $120M |
| Short-Term Debt | $29M |
| Deferred Revenue | $13M |
| Other Current Liabilities | $56M |
| TOTAL CURRENT LIABILITIES | $217M |
| Long-Term Debt | $48M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $77M |
| Other Non-Current Liabilities | $9M |
| TOTAL NON-CURRENT LIABILITIES | $152M |
| TOTAL LIABILITIES | $369M |
| Common Stock | $22M |
| Additional Paid-In Capital | $0 |
| Retained Earnings | $1.1B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$3M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $1.1B |
| Minority Interest | $0 |
| TOTAL EQUITY | $1.1B |
| TOTAL LIABILITIES & EQUITY | $1.5B |
| Total Debt | $95M |
| Net Debt | -$115M |
