| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $419M | $264M | — | 59.1% | — |
| Op. Income | $116M | $38M | — | 204.2% | — |
| Gross Margin | 24.5% | 15.0% | — | 9.5pp | — |
| Net Margin | 37.8% | 25.3% | — | 12.4pp | — |
| EPS (Diluted) | $0.76 | $0.32 | — | 137.5% | — |
| Free Cash Flow | $254M | $35M | — | 628.3% | — |
| Item | Amount |
|---|---|
| REVENUE | $419M |
| Cost of Revenue | $317M |
| GROSS PROFIT | $103M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | -$13M |
| Operating Expenses | -$13M |
| Cost & Expenses | $304M |
| OPERATING INCOME | $116M |
| Interest Income | $17M |
| Interest Expense | $84M |
| Other Income/Expenses | $40M |
| INCOME BEFORE TAX | $155M |
| Income Tax Expense | -$3M |
| Net Income from Continuing Ops | $158M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $158M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $158M |
| D&A | $59M |
| EBIT | $116M |
| EBITDA | $175M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| REVENUE | $419M |
| Cost of Revenue | $317M |
| GROSS PROFIT | $103M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | -$13M |
| Operating Expenses | -$13M |
| Cost & Expenses | $304M |
| OPERATING INCOME | $116M |
| Interest Income | $17M |
| Interest Expense | $84M |
| Other Income/Expenses | $40M |
| INCOME BEFORE TAX | $155M |
| Income Tax Expense | -$3M |
| Net Income from Continuing Ops | $158M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $158M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $158M |
| D&A | $59M |
| EBIT | $116M |
| EBITDA | $175M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $158M |
| Depreciation & Amortization | $59M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $4M |
| Other Non-Cash Items | $132M |
| Change in Working Capital | -$5M |
| OPERATING CASH FLOW | $349M |
| Capital Expenditure | -$95M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $867.9K |
| NET CASH FROM INVESTING | -$94M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | -$196M |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | -$195M |
| FREE CASH FLOW | $254M |
| Net Change in Cash | $214M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $574M |
| Short-Term Investments | $0 |
| Net Receivables | $1.2B |
| Inventory | $100M |
| Other Current Assets | $133M |
| TOTAL CURRENT ASSETS | $2.0B |
| PP&E (Net) | $8.2B |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $830M |
| Tax Assets | $23M |
| Other Non-Current Assets | $74M |
| TOTAL NON-CURRENT ASSETS | $9.2B |
| TOTAL ASSETS | $11.2B |
| Account Payables | $753M |
| Short-Term Debt | $0 |
| Deferred Revenue | $16M |
| Other Current Liabilities | $513M |
| TOTAL CURRENT LIABILITIES | $1.3B |
| Long-Term Debt | $5.8B |
| Deferred Revenue NC | $24M |
| Deferred Tax Liabilities | $1.2B |
| Other Non-Current Liabilities | $132M |
| TOTAL NON-CURRENT LIABILITIES | $7.1B |
| TOTAL LIABILITIES | $8.5B |
| Common Stock | $2.2B |
| Additional Paid-In Capital | $660M |
| Retained Earnings | -$32M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$121M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $2.7B |
| Minority Interest | $0 |
| TOTAL EQUITY | $2.7B |
| TOTAL LIABILITIES & EQUITY | $11.2B |
| Total Debt | $5.8B |
| Net Debt | $5.2B |
