| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $1.0B | $1.0B | $952M | 1.5% | 9.6% |
| Op. Income | $3.3B | -$1.7B | $130M | 295.7% | 2424.6% |
| Gross Margin | -61.7% | 84.3% | 41.8% | -146.1pp | -103.6pp |
| Net Margin | 2.4% | -187.1% | 0.7% | 189.5pp | 1.7pp |
| EPS (Diluted) | $0.03 | $-2.06 | $-0.11 | 101.3% | 123.6% |
| Free Cash Flow | $321M | $235M | $177M | 36.6% | 81.4% |
| Item | Amount |
|---|---|
| REVENUE | $1.0B |
| Cost of Revenue | $1.7B |
| GROSS PROFIT | -$644M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $50M |
| SG&A Expenses | $50M |
| Other Expenses | -$4.0B |
| Operating Expenses | -$3.9B |
| Cost & Expenses | -$2.2B |
| OPERATING INCOME | $3.3B |
| Interest Income | $10M |
| Interest Expense | $283M |
| Other Income/Expenses | -$3.2B |
| INCOME BEFORE TAX | $82M |
| Income Tax Expense | $57M |
| Net Income from Continuing Ops | $25M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $25M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $25M |
| D&A | $147M |
| EBIT | $365M |
| EBITDA | $512M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $25M |
| Depreciation & Amortization | $147M |
| Stock-Based Compensation | $9M |
| Deferred Income Tax | $35M |
| Other Non-Cash Items | $52M |
| Change in Working Capital | $81M |
| OPERATING CASH FLOW | $349M |
| Capital Expenditure | -$28M |
| Acquisitions (Net) | $40M |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $2M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $14M |
| Net Debt Issuance | -$614M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$2M |
| NET CASH FROM FINANCING | -$616M |
| FREE CASH FLOW | $321M |
| Net Change in Cash | -$253M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $997M |
| Short-Term Investments | $0 |
| Net Receivables | $540M |
| Inventory | $0 |
| Other Current Assets | $544M |
| TOTAL CURRENT ASSETS | $2.1B |
| PP&E (Net) | $17.5B |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $61M |
| Other Non-Current Assets | -$4.0B |
| TOTAL NON-CURRENT ASSETS | $13.6B |
| TOTAL ASSETS | $15.6B |
| Account Payables | $242M |
| Short-Term Debt | $445M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $627M |
| TOTAL CURRENT LIABILITIES | $1.3B |
| Long-Term Debt | $5.2B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $404M |
| Other Non-Current Liabilities | $582M |
| TOTAL NON-CURRENT LIABILITIES | $6.2B |
| TOTAL LIABILITIES | $7.5B |
| Common Stock | $110M |
| Additional Paid-In Capital | $15.6B |
| Retained Earnings | -$7.5B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$146M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $8.1B |
| Minority Interest | $0 |
| TOTAL EQUITY | $8.1B |
| TOTAL LIABILITIES & EQUITY | $15.6B |
| Total Debt | $5.7B |
| Net Debt | $4.7B |
