| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $427M | $341M | — | 25.1% | — |
| Op. Income | $26M | $55M | — | -52.9% | — |
| Gross Margin | 23.8% | 63.9% | — | -40.1pp | — |
| Net Margin | 1.2% | 7.7% | — | -6.5pp | — |
| EPS (Diluted) | $0.02 | $0.08 | — | -80.5% | — |
| Free Cash Flow | $101M | $133M | — | -24.5% | — |
| Item | Amount |
|---|---|
| REVENUE | $427M |
| Cost of Revenue | $325M |
| GROSS PROFIT | $102M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $76M |
| Other Expenses | $0 |
| Operating Expenses | $76M |
| Cost & Expenses | $401M |
| OPERATING INCOME | $26M |
| Interest Income | $4M |
| Interest Expense | $27M |
| Other Income/Expenses | -$27M |
| INCOME BEFORE TAX | -$1M |
| Income Tax Expense | -$6M |
| Net Income from Continuing Ops | $5M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $5M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $5M |
| D&A | $20M |
| EBIT | $26M |
| EBITDA | $46M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $5M |
| Depreciation & Amortization | $20M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $113M |
| Change in Working Capital | -$36M |
| OPERATING CASH FLOW | $103M |
| Capital Expenditure | -$2M |
| Acquisitions (Net) | $17M |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$13M |
| NET CASH FROM INVESTING | -$76M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | -$28M |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$2M |
| NET CASH FROM FINANCING | -$30M |
| FREE CASH FLOW | $101M |
| Net Change in Cash | $6M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $427M |
| Short-Term Investments | $0 |
| Net Receivables | $272M |
| Inventory | $0 |
| Other Current Assets | $84M |
| TOTAL CURRENT ASSETS | $784M |
| PP&E (Net) | $93M |
| Goodwill | $0 |
| Intangible Assets | $2.4B |
| Long-Term Investments | $0 |
| Tax Assets | $34M |
| Other Non-Current Assets | $71M |
| TOTAL NON-CURRENT ASSETS | $2.6B |
| TOTAL ASSETS | $3.4B |
| Account Payables | $499M |
| Short-Term Debt | $13M |
| Deferred Revenue | $41M |
| Other Current Liabilities | $111M |
| TOTAL CURRENT LIABILITIES | $672M |
| Long-Term Debt | $61M |
| Deferred Revenue NC | $44M |
| Deferred Tax Liabilities | $19M |
| Other Non-Current Liabilities | $1.4B |
| TOTAL NON-CURRENT LIABILITIES | $1.5B |
| TOTAL LIABILITIES | $2.2B |
| Common Stock | $32M |
| Additional Paid-In Capital | $798M |
| Retained Earnings | $400M |
| Treasury Stock | -$93M |
| Accum. Other Comp. Income | $0 |
| Other Equity | $7M |
| TOTAL STOCKHOLDERS' EQUITY | $1.1B |
| Minority Interest | $2.3K |
| TOTAL EQUITY | $1.1B |
| TOTAL LIABILITIES & EQUITY | $3.4B |
| Total Debt | $73M |
| Net Debt | -$353M |
