| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $264M | — | $394M | — | -33.1% |
| Op. Income | $38M | — | $133M | — | -71.4% |
| Gross Margin | 15.0% | — | 81.5% | — | -66.5pp |
| Net Margin | 25.3% | — | 11.3% | — | 14.1pp |
| EPS (Diluted) | $0.32 | — | $0.21 | — | 51.0% |
| Free Cash Flow | $35M | — | $212M | — | -83.6% |
| Item | Amount |
|---|---|
| REVENUE | $264M |
| Cost of Revenue | $224M |
| GROSS PROFIT | $39M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $1M |
| Operating Expenses | $1M |
| Cost & Expenses | $225M |
| OPERATING INCOME | $38M |
| Interest Income | $6M |
| Interest Expense | $60M |
| Other Income/Expenses | $37M |
| INCOME BEFORE TAX | $75M |
| Income Tax Expense | $8M |
| Net Income from Continuing Ops | $67M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $67M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $67M |
| D&A | $46M |
| EBIT | $135M |
| EBITDA | $181M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $264M |
| Cost of Revenue | $224M |
| GROSS PROFIT | $39M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $1M |
| Operating Expenses | $1M |
| Cost & Expenses | $225M |
| OPERATING INCOME | $38M |
| Interest Income | $6M |
| Interest Expense | $60M |
| Other Income/Expenses | $37M |
| INCOME BEFORE TAX | $75M |
| Income Tax Expense | $8M |
| Net Income from Continuing Ops | $67M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $67M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $67M |
| D&A | $46M |
| EBIT | $135M |
| EBITDA | $181M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $67M |
| Depreciation & Amortization | $46M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $52M |
| Other Non-Cash Items | -$109M |
| Change in Working Capital | -$3M |
| OPERATING CASH FLOW | $53M |
| Capital Expenditure | -$18M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$881.3K |
| NET CASH FROM INVESTING | -$19M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | -$14M |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | -$14M |
| FREE CASH FLOW | $35M |
| Net Change in Cash | -$93M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $360M |
| Short-Term Investments | $0 |
| Net Receivables | $788M |
| Inventory | $91M |
| Other Current Assets | $434M |
| TOTAL CURRENT ASSETS | $1.7B |
| PP&E (Net) | $5.9B |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $587M |
| Tax Assets | $11M |
| Other Non-Current Assets | $85M |
| TOTAL NON-CURRENT ASSETS | $6.6B |
| TOTAL ASSETS | $8.2B |
| Account Payables | $855M |
| Short-Term Debt | $0 |
| Deferred Revenue | $13M |
| Other Current Liabilities | $363M |
| TOTAL CURRENT LIABILITIES | $1.2B |
| Long-Term Debt | $4.1B |
| Deferred Revenue NC | $14M |
| Deferred Tax Liabilities | $869M |
| Other Non-Current Liabilities | $103M |
| TOTAL NON-CURRENT LIABILITIES | $5.1B |
| TOTAL LIABILITIES | $6.3B |
| Common Stock | $1.6B |
| Additional Paid-In Capital | $475M |
| Retained Earnings | -$60M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$111M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $1.9B |
| Minority Interest | $0 |
| TOTAL EQUITY | $1.9B |
| TOTAL LIABILITIES & EQUITY | $8.2B |
| Total Debt | $4.1B |
| Net Debt | $3.8B |
