| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $718M | $811M | $836M | -11.4% | -14.1% |
| Op. Income | $4M | $246M | $287M | -98.2% | -98.5% |
| Gross Margin | 18.9% | 31.6% | 43.2% | -12.8pp | -24.3pp |
| Net Margin | 15.2% | 19.1% | 22.5% | -4.0pp | -7.4pp |
| EPS (Diluted) | $0.95 | $1.35 | $1.63 | -29.6% | -41.7% |
| Free Cash Flow | -$572M | $101M | -$1.9B | -668.3% | 69.5% |
| Item | Amount |
|---|---|
| REVENUE | $718M |
| Cost of Revenue | $583M |
| GROSS PROFIT | $136M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $40M |
| SG&A Expenses | $40M |
| Other Expenses | $91M |
| Operating Expenses | $131M |
| Cost & Expenses | $714M |
| OPERATING INCOME | $4M |
| Interest Income | $2M |
| Interest Expense | $303M |
| Other Income/Expenses | $137M |
| INCOME BEFORE TAX | $141M |
| Income Tax Expense | $32M |
| Net Income from Continuing Ops | $109M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $109M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $109M |
| D&A | $319M |
| EBIT | $444M |
| EBITDA | $763M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| REVENUE | $718M |
| Cost of Revenue | $583M |
| GROSS PROFIT | $136M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $40M |
| SG&A Expenses | $40M |
| Other Expenses | $91M |
| Operating Expenses | $131M |
| Cost & Expenses | $714M |
| OPERATING INCOME | $4M |
| Interest Income | $2M |
| Interest Expense | $303M |
| Other Income/Expenses | $137M |
| INCOME BEFORE TAX | $141M |
| Income Tax Expense | $32M |
| Net Income from Continuing Ops | $109M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $109M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $109M |
| D&A | $319M |
| EBIT | $444M |
| EBITDA | $763M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $109M |
| Depreciation & Amortization | $319M |
| Stock-Based Compensation | $8M |
| Deferred Income Tax | $33M |
| Other Non-Cash Items | -$46M |
| Change in Working Capital | $29M |
| OPERATING CASH FLOW | $452M |
| Capital Expenditure | -$1.0B |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $800M |
| NET CASH FROM INVESTING | -$224M |
| Net Debt Issuance | $500.0K |
| Common Stock Repurchased | -$224.0K |
| Common Dividends Paid | -$23M |
| Other Financing Activities | -$62.0K |
| NET CASH FROM FINANCING | -$22M |
| FREE CASH FLOW | -$572M |
| Net Change in Cash | $206M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $368M |
| Short-Term Investments | $0 |
| Net Receivables | $331M |
| Inventory | $0 |
| Other Current Assets | $112M |
| TOTAL CURRENT ASSETS | $811M |
| PP&E (Net) | $65M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $175M |
| TOTAL NON-CURRENT ASSETS | $240M |
| TOTAL ASSETS | $9.3B |
| Account Payables | $0 |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $1.2B |
| TOTAL CURRENT LIABILITIES | $1.2B |
| Long-Term Debt | $2.3B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $724M |
| Other Non-Current Liabilities | $254M |
| TOTAL NON-CURRENT LIABILITIES | $3.3B |
| TOTAL LIABILITIES | $4.4B |
| Common Stock | $1M |
| Additional Paid-In Capital | $0 |
| Retained Earnings | $3.3B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $1M |
| Other Equity | $1.5B |
| TOTAL STOCKHOLDERS' EQUITY | $4.8B |
| Minority Interest | $0 |
| TOTAL EQUITY | $4.8B |
| TOTAL LIABILITIES & EQUITY | $9.3B |
| Total Debt | $2.3B |
| Net Debt | $1.9B |
