| Metric | Q1 2026 | Q4 2025 | Q1 2025 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $5.0B | $5.8B | $5.9B | -12.8% | -15.5% |
| Op. Income | $182M | $228M | $509M | -20.2% | -64.2% |
| Gross Margin | 9.3% | 9.5% | 13.1% | -0.1pp | -3.7pp |
| Net Margin | 3.4% | 3.4% | 7.1% | -0.0pp | -3.8pp |
| EPS (Diluted) | $0.26 | $0.31 | $0.17 | -16.1% | 52.9% |
| Free Cash Flow | -$950M | $841M | $365M | -212.9% | -360.5% |
| Item | Amount |
|---|---|
| REVENUE | $5.0B |
| Cost of Revenue | $4.6B |
| GROSS PROFIT | $467M |
| R&D Expenses | $173M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $112M |
| Other Expenses | $0 |
| Operating Expenses | $285M |
| Cost & Expenses | $4.8B |
| OPERATING INCOME | $182M |
| Interest Income | $0 |
| Interest Expense | $25M |
| Other Income/Expenses | $26M |
| INCOME BEFORE TAX | $208M |
| Income Tax Expense | $40M |
| Net Income from Continuing Ops | $168M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $168M |
| Net Income Deductions | -$2M |
| BOTTOM LINE NET INCOME | $170M |
| D&A | $21M |
| EBIT | $233M |
| EBITDA | $254M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $5.0B |
| Cost of Revenue | $4.6B |
| GROSS PROFIT | $467M |
| R&D Expenses | $173M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $112M |
| Other Expenses | $0 |
| Operating Expenses | $285M |
| Cost & Expenses | $4.8B |
| OPERATING INCOME | $182M |
| Interest Income | $0 |
| Interest Expense | $25M |
| Other Income/Expenses | $26M |
| INCOME BEFORE TAX | $208M |
| Income Tax Expense | $40M |
| Net Income from Continuing Ops | $168M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $168M |
| Net Income Deductions | -$2M |
| BOTTOM LINE NET INCOME | $170M |
| D&A | $21M |
| EBIT | $233M |
| EBITDA | $254M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $168M |
| Depreciation & Amortization | $21M |
| Stock-Based Compensation | $89M |
| Deferred Income Tax | -$12M |
| Other Non-Cash Items | $45M |
| Change in Working Capital | -$1.2B |
| OPERATING CASH FLOW | -$918M |
| Capital Expenditure | -$32M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$32M |
| Net Debt Issuance | $17M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$44M |
| NET CASH FROM FINANCING | -$19M |
| FREE CASH FLOW | -$950M |
| Net Change in Cash | -$973M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $4.2B |
| Short-Term Investments | $0 |
| Net Receivables | $2.5B |
| Inventory | $5.7B |
| Other Current Assets | $209M |
| TOTAL CURRENT ASSETS | $12.7B |
| PP&E (Net) | $897M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $100M |
| Tax Assets | $617M |
| Other Non-Current Assets | $110M |
| TOTAL NON-CURRENT ASSETS | $1.7B |
| TOTAL ASSETS | $14.4B |
| Account Payables | $1.3B |
| Short-Term Debt | $101M |
| Deferred Revenue | $644M |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $2.3B |
| Long-Term Debt | $4.7B |
| Deferred Revenue NC | $431M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $409M |
| TOTAL NON-CURRENT LIABILITIES | $5.5B |
| TOTAL LIABILITIES | $7.9B |
| Common Stock | $2.9B |
| Additional Paid-In Capital | $0 |
| Retained Earnings | $3.6B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $698.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $6.5B |
| Minority Interest | $170.0K |
| TOTAL EQUITY | $6.5B |
| TOTAL LIABILITIES & EQUITY | $14.4B |
| Total Debt | $4.8B |
| Net Debt | $609M |
