| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $2.7B | $2.4B | $2.9B | 9.5% | -6.1% |
| Op. Income | $548M | $397M | $890M | 38.0% | -38.4% |
| Gross Margin | 29.4% | 30.4% | 38.2% | -1.0pp | -8.8pp |
| Net Margin | 0.8% | 16.1% | -47.6% | -15.2pp | 48.4pp |
| EPS (Diluted) | $0.02 | $0.32 | $-1.10 | -94.3% | 101.7% |
| Free Cash Flow | $518M | $118M | $473M | 338.2% | 9.6% |
| Item | Amount |
|---|---|
| REVENUE | $2.7B |
| Cost of Revenue | $1.9B |
| GROSS PROFIT | $790M |
| R&D Expenses | $0 |
| Selling & Marketing | $175M |
| General & Administrative | $162M |
| SG&A Expenses | $337M |
| Other Expenses | -$95M |
| Operating Expenses | $242M |
| Cost & Expenses | $2.1B |
| OPERATING INCOME | $548M |
| Interest Income | $90M |
| Interest Expense | $346M |
| Other Income/Expenses | -$520M |
| INCOME BEFORE TAX | $28M |
| Income Tax Expense | $4M |
| Net Income from Continuing Ops | $24M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | -$2 |
| NET INCOME | $22M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $22M |
| D&A | $628M |
| EBIT | $548M |
| EBITDA | $1.2B |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $2.7B |
| Cost of Revenue | $1.9B |
| GROSS PROFIT | $790M |
| R&D Expenses | $0 |
| Selling & Marketing | $175M |
| General & Administrative | $162M |
| SG&A Expenses | $337M |
| Other Expenses | -$95M |
| Operating Expenses | $242M |
| Cost & Expenses | $2.1B |
| OPERATING INCOME | $548M |
| Interest Income | $90M |
| Interest Expense | $346M |
| Other Income/Expenses | -$520M |
| INCOME BEFORE TAX | $28M |
| Income Tax Expense | $4M |
| Net Income from Continuing Ops | $24M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | -$2 |
| NET INCOME | $22M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $22M |
| D&A | $628M |
| EBIT | $548M |
| EBITDA | $1.2B |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $22M |
| Depreciation & Amortization | $628M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $9M |
| Other Non-Cash Items | $314M |
| Change in Working Capital | $119M |
| OPERATING CASH FLOW | $1.1B |
| Capital Expenditure | -$575M |
| Acquisitions (Net) | $2M |
| Purchases of Investments | $2M |
| Sales/Maturities of Investments | -$416M |
| Other Investing Activities | -$17M |
| NET CASH FROM INVESTING | -$1.0B |
| Net Debt Issuance | -$321M |
| Common Stock Repurchased | -$434.7K |
| Common Dividends Paid | -$5M |
| Other Financing Activities | $41M |
| NET CASH FROM FINANCING | -$286M |
| FREE CASH FLOW | $518M |
| Net Change in Cash | -$225M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $3.1B |
| Short-Term Investments | $2.0B |
| Net Receivables | $1.8B |
| Inventory | $1.7B |
| Other Current Assets | $314M |
| TOTAL CURRENT ASSETS | $8.8B |
| PP&E (Net) | $19.3B |
| Goodwill | $1.6B |
| Intangible Assets | $963M |
| Long-Term Investments | $2.0B |
| Tax Assets | $303M |
| Other Non-Current Assets | $790M |
| TOTAL NON-CURRENT ASSETS | $25.0B |
| TOTAL ASSETS | $33.8B |
| Account Payables | $1.0B |
| Short-Term Debt | $471M |
| Deferred Revenue | $27M |
| Other Current Liabilities | $964M |
| TOTAL CURRENT LIABILITIES | $2.8B |
| Long-Term Debt | $19.7B |
| Deferred Revenue NC | $15M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $1.2B |
| TOTAL NON-CURRENT LIABILITIES | $22.2B |
| TOTAL LIABILITIES | $25.0B |
| Common Stock | $4.9B |
| Additional Paid-In Capital | $0 |
| Retained Earnings | $0 |
| Treasury Stock | -$304M |
| Accum. Other Comp. Income | $4.2B |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $8.8B |
| Minority Interest | $28M |
| TOTAL EQUITY | $8.9B |
| TOTAL LIABILITIES & EQUITY | $33.8B |
| Total Debt | $21.4B |
| Net Debt | $18.3B |
