| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $683M | $671M | — | 1.7% | — |
| Op. Income | -$3M | -$34M | — | 90.3% | — |
| Gross Margin | 17.6% | 19.4% | — | -1.7pp | — |
| Net Margin | -4.8% | -10.0% | — | 5.2pp | — |
| EPS (Diluted) | $-0.13 | $-0.28 | — | 53.6% | — |
| Free Cash Flow | $56M | $43M | — | 31.1% | — |
| Item | Amount |
|---|---|
| REVENUE | $683M |
| Cost of Revenue | $562M |
| GROSS PROFIT | $120M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $124M |
| Other Expenses | $0 |
| Operating Expenses | $124M |
| Cost & Expenses | $686M |
| OPERATING INCOME | -$3M |
| Interest Income | $0 |
| Interest Expense | $21M |
| Other Income/Expenses | -$26M |
| INCOME BEFORE TAX | -$30M |
| Income Tax Expense | $3M |
| Net Income from Continuing Ops | -$33M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$33M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$33M |
| D&A | $92M |
| EBIT | -$9M |
| EBITDA | $84M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$33M |
| Depreciation & Amortization | $92M |
| Stock-Based Compensation | $5M |
| Deferred Income Tax | $26M |
| Other Non-Cash Items | -$74M |
| Change in Working Capital | $43M |
| OPERATING CASH FLOW | $60M |
| Capital Expenditure | -$4M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $700.0K |
| NET CASH FROM INVESTING | -$3M |
| Net Debt Issuance | -$115M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $64M |
| NET CASH FROM FINANCING | -$50M |
| FREE CASH FLOW | $56M |
| Net Change in Cash | $6M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $106M |
| Short-Term Investments | $0 |
| Net Receivables | $267M |
| Inventory | $0 |
| Other Current Assets | $145M |
| TOTAL CURRENT ASSETS | $518M |
| PP&E (Net) | $741M |
| Goodwill | $740M |
| Intangible Assets | $698M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $103M |
| TOTAL NON-CURRENT ASSETS | $2.3B |
| TOTAL ASSETS | $2.8B |
| Account Payables | $414M |
| Short-Term Debt | $144M |
| Deferred Revenue | $95M |
| Other Current Liabilities | $114M |
| TOTAL CURRENT LIABILITIES | $767M |
| Long-Term Debt | $2.7B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $35M |
| Other Non-Current Liabilities | $78M |
| TOTAL NON-CURRENT LIABILITIES | $3.3B |
| TOTAL LIABILITIES | $4.0B |
| Common Stock | $3M |
| Additional Paid-In Capital | $2.7B |
| Retained Earnings | -$3.9B |
| Treasury Stock | -$31M |
| Accum. Other Comp. Income | $8M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | -$1.2B |
| Minority Interest | $0 |
| TOTAL EQUITY | -$1.2B |
| TOTAL LIABILITIES & EQUITY | $2.8B |
| Total Debt | $3.3B |
| Net Debt | $3.2B |
