| Metric | Q1 2026 | Q4 2025 | Q1 2025 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $320M | — | — | — | — |
| Op. Income | -$21M | — | — | — | — |
| Gross Margin | 33.9% | — | — | — | — |
| Net Margin | -13.3% | — | — | — | — |
| EPS (Diluted) | $-2.54 | — | — | — | — |
| Free Cash Flow | $59M | — | — | — | — |
| Item | Amount |
|---|---|
| REVENUE | $320M |
| Cost of Revenue | $211M |
| GROSS PROFIT | $109M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $93M |
| Other Expenses | -$37M |
| Operating Expenses | $129M |
| Cost & Expenses | $340M |
| OPERATING INCOME | -$21M |
| Interest Income | $0 |
| Interest Expense | $13M |
| Other Income/Expenses | -$22M |
| INCOME BEFORE TAX | -$43M |
| Income Tax Expense | -$100.0K |
| Net Income from Continuing Ops | -$43M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$43M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$43M |
| D&A | $211M |
| EBIT | -$29M |
| EBITDA | $182M |
| EPS | -$3 |
| EPS Diluted | -$3 |
| Item | Amount |
|---|---|
| Net Income | -$43M |
| Depreciation & Amortization | $213M |
| Stock-Based Compensation | $7M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$160M |
| Change in Working Capital | $47M |
| OPERATING CASH FLOW | $65M |
| Capital Expenditure | -$7M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $82M |
| NET CASH FROM INVESTING | $75M |
| Net Debt Issuance | -$101M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$6M |
| NET CASH FROM FINANCING | -$107M |
| FREE CASH FLOW | $59M |
| Net Change in Cash | $34M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $52M |
| Short-Term Investments | $0 |
| Net Receivables | $56M |
| Inventory | $0 |
| Other Current Assets | $16M |
| TOTAL CURRENT ASSETS | $123M |
| PP&E (Net) | $50M |
| Goodwill | $0 |
| Intangible Assets | $1.9B |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $53M |
| TOTAL NON-CURRENT ASSETS | $2.0B |
| TOTAL ASSETS | $2.1B |
| Account Payables | $486M |
| Short-Term Debt | $88M |
| Deferred Revenue | $40M |
| Other Current Liabilities | $7M |
| TOTAL CURRENT LIABILITIES | $677M |
| Long-Term Debt | $612M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $8M |
| Other Non-Current Liabilities | $28M |
| TOTAL NON-CURRENT LIABILITIES | $702M |
| TOTAL LIABILITIES | $1.4B |
| Common Stock | $728M |
| Additional Paid-In Capital | $0 |
| Retained Earnings | -$35M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $19M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $712M |
| Minority Interest | $0 |
| TOTAL EQUITY | $712M |
| TOTAL LIABILITIES & EQUITY | $2.1B |
| Total Debt | $764M |
| Net Debt | $712M |
