| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $526M | $540M | $646M | -2.6% | -18.6% |
| Op. Income | $38M | $77M | $122M | -50.9% | -69.1% |
| Gross Margin | 40.8% | 41.9% | 50.9% | -1.1pp | -10.1pp |
| Net Margin | -6.3% | -6.7% | 7.4% | 0.4pp | -13.7pp |
| EPS (Diluted) | $-0.55 | $-0.59 | $0.37 | 6.8% | -248.6% |
| Free Cash Flow | $6M | -$23M | $127M | 128.1% | -95.0% |
| Item | Amount |
|---|---|
| REVENUE | $526M |
| Cost of Revenue | $311M |
| GROSS PROFIT | $215M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $138M |
| SG&A Expenses | $138M |
| Other Expenses | $39M |
| Operating Expenses | $177M |
| Cost & Expenses | $488M |
| OPERATING INCOME | $38M |
| Interest Income | $0 |
| Interest Expense | $102M |
| Other Income/Expenses | -$75M |
| INCOME BEFORE TAX | -$37M |
| Income Tax Expense | -$4M |
| Net Income from Continuing Ops | -$33M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$33M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$49M |
| D&A | $37M |
| EBIT | $65M |
| EBITDA | $102M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$33M |
| Depreciation & Amortization | $37M |
| Stock-Based Compensation | $1M |
| Deferred Income Tax | $7M |
| Other Non-Cash Items | $14M |
| Change in Working Capital | -$5M |
| OPERATING CASH FLOW | $22M |
| Capital Expenditure | -$15M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$15.0K |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $458.0K |
| NET CASH FROM INVESTING | -$15M |
| Net Debt Issuance | $47M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$31M |
| NET CASH FROM FINANCING | $16M |
| FREE CASH FLOW | $6M |
| Net Change in Cash | $23M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $55M |
| Short-Term Investments | $0 |
| Net Receivables | $562M |
| Inventory | $0 |
| Other Current Assets | $89M |
| TOTAL CURRENT ASSETS | $705M |
| PP&E (Net) | $518M |
| Goodwill | $2.0B |
| Intangible Assets | $1.9B |
| Long-Term Investments | $15M |
| Tax Assets | $0 |
| Other Non-Current Assets | $29M |
| TOTAL NON-CURRENT ASSETS | $4.4B |
| TOTAL ASSETS | $5.1B |
| Account Payables | $66M |
| Short-Term Debt | $9M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $215M |
| TOTAL CURRENT LIABILITIES | $437M |
| Long-Term Debt | $2.6B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $634M |
| TOTAL NON-CURRENT LIABILITIES | $3.4B |
| TOTAL LIABILITIES | $3.8B |
| Common Stock | $888.0K |
| Additional Paid-In Capital | $1.5B |
| Retained Earnings | -$548M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$75M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $1.3B |
| Minority Interest | $0 |
| TOTAL EQUITY | $1.3B |
| TOTAL LIABILITIES & EQUITY | $5.1B |
| Total Debt | $2.8B |
| Net Debt | $2.7B |
