| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $1.0B | $1.1B | $944M | -2.4% | 8.5% |
| Op. Income | $134M | $174M | $144M | -22.9% | -6.9% |
| Gross Margin | 60.9% | 24.0% | 23.2% | 37.0pp | 37.8pp |
| Net Margin | 8.9% | 11.1% | 10.3% | -2.2pp | -1.4pp |
| EPS (Diluted) | $2.21 | $2.82 | $2.34 | -21.6% | -5.6% |
| Free Cash Flow | -$27M | $158M | $11M | -116.8% | -338.7% |
| Item | Amount |
|---|---|
| REVENUE | $1.0B |
| Cost of Revenue | $400M |
| GROSS PROFIT | $624M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $490M |
| Operating Expenses | $490M |
| Cost & Expenses | $890M |
| OPERATING INCOME | $134M |
| Interest Income | $12M |
| Interest Expense | $25M |
| Other Income/Expenses | -$10M |
| INCOME BEFORE TAX | $125M |
| Income Tax Expense | $33M |
| Net Income from Continuing Ops | $91M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $91M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $91M |
| D&A | $92M |
| EBIT | $150M |
| EBITDA | $242M |
| EPS | $2 |
| EPS Diluted | $2 |
| Item | Amount |
|---|---|
| REVENUE | $1.0B |
| Cost of Revenue | $400M |
| GROSS PROFIT | $624M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $490M |
| Operating Expenses | $490M |
| Cost & Expenses | $890M |
| OPERATING INCOME | $134M |
| Interest Income | $12M |
| Interest Expense | $25M |
| Other Income/Expenses | -$10M |
| INCOME BEFORE TAX | $125M |
| Income Tax Expense | $33M |
| Net Income from Continuing Ops | $91M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $91M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $91M |
| D&A | $92M |
| EBIT | $150M |
| EBITDA | $242M |
| EPS | $2 |
| EPS Diluted | $2 |
| Item | Amount |
|---|---|
| Net Income | $91M |
| Depreciation & Amortization | $92M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $48M |
| Change in Working Capital | $0 |
| OPERATING CASH FLOW | $232M |
| Capital Expenditure | -$258M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$133M |
| Sales/Maturities of Investments | $258M |
| Other Investing Activities | $1M |
| NET CASH FROM INVESTING | -$133M |
| Net Debt Issuance | $6M |
| Common Stock Repurchased | -$27M |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | -$21M |
| FREE CASH FLOW | -$27M |
| Net Change in Cash | $78M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $0 |
| Short-Term Investments | $707M |
| Net Receivables | $0 |
| Inventory | $0 |
| Other Current Assets | $384M |
| TOTAL CURRENT ASSETS | $1.1B |
| PP&E (Net) | $5.7B |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $552M |
| TOTAL NON-CURRENT ASSETS | $6.3B |
| TOTAL ASSETS | $7.4B |
| Account Payables | $0 |
| Short-Term Debt | $547M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $1.1B |
| TOTAL CURRENT LIABILITIES | $1.7B |
| Long-Term Debt | $1.8B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $1.1B |
| TOTAL NON-CURRENT LIABILITIES | $3.0B |
| TOTAL LIABILITIES | $4.6B |
| Common Stock | $2.7B |
| Additional Paid-In Capital | $0 |
| Retained Earnings | $0 |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $2.7B |
| Minority Interest | $0 |
| TOTAL EQUITY | $2.7B |
| TOTAL LIABILITIES & EQUITY | $7.4B |
| Total Debt | $2.4B |
| Net Debt | $2.4B |
