| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $387M | $1.2B | $415M | -67.4% | -6.6% |
| Op. Income | -$150M | $215M | -$216M | -169.8% | 30.5% |
| Gross Margin | 6.1% | 31.8% | -7.1% | -25.8pp | 13.2pp |
| Net Margin | -39.2% | 12.6% | -58.8% | -51.7pp | 19.7pp |
| EPS (Diluted) | $-2.63 | $2.54 | $-4.29 | -203.5% | 38.7% |
| Free Cash Flow | $131M | $438M | $102M | -70.0% | 28.8% |
| Item | Amount |
|---|---|
| REVENUE | $387M |
| Cost of Revenue | $364M |
| GROSS PROFIT | $24M |
| R&D Expenses | $9M |
| Selling & Marketing | $23M |
| General & Administrative | $102M |
| SG&A Expenses | $125M |
| Other Expenses | $40M |
| Operating Expenses | $174M |
| Cost & Expenses | $538M |
| OPERATING INCOME | -$150M |
| Interest Income | $0 |
| Interest Expense | $27M |
| Other Income/Expenses | -$41M |
| INCOME BEFORE TAX | -$191M |
| Income Tax Expense | -$39M |
| Net Income from Continuing Ops | -$152M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$152M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$152M |
| D&A | $19M |
| EBIT | -$164M |
| EBITDA | -$145M |
| EPS | -$3 |
| EPS Diluted | -$3 |
| Item | Amount |
|---|---|
| Net Income | -$152M |
| Depreciation & Amortization | $19M |
| Stock-Based Compensation | $13M |
| Deferred Income Tax | -$6M |
| Other Non-Cash Items | $37M |
| Change in Working Capital | $263M |
| OPERATING CASH FLOW | $174M |
| Capital Expenditure | -$43M |
| Acquisitions (Net) | -$3M |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$7M |
| NET CASH FROM INVESTING | -$52M |
| Net Debt Issuance | -$83M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | -$38M |
| Other Financing Activities | -$15M |
| NET CASH FROM FINANCING | -$136M |
| FREE CASH FLOW | $131M |
| Net Change in Cash | -$15M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $37M |
| Short-Term Investments | $0 |
| Net Receivables | $187M |
| Inventory | $593M |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $940M |
| PP&E (Net) | $632M |
| Goodwill | $244M |
| Intangible Assets | $402M |
| Long-Term Investments | $54M |
| Tax Assets | $0 |
| Other Non-Current Assets | $471M |
| TOTAL NON-CURRENT ASSETS | $1.8B |
| TOTAL ASSETS | $2.7B |
| Account Payables | $229M |
| Short-Term Debt | $57M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $114M |
| TOTAL CURRENT LIABILITIES | $740M |
| Long-Term Debt | $2.0B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $8M |
| Other Non-Current Liabilities | $101M |
| TOTAL NON-CURRENT LIABILITIES | $2.4B |
| TOTAL LIABILITIES | $3.1B |
| Common Stock | $352M |
| Additional Paid-In Capital | $0 |
| Retained Earnings | $295M |
| Treasury Stock | -$894M |
| Accum. Other Comp. Income | -$110M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | -$358M |
| Minority Interest | $0 |
| TOTAL EQUITY | -$358M |
| TOTAL LIABILITIES & EQUITY | $2.7B |
| Total Debt | $2.4B |
| Net Debt | $2.3B |
