| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $465M | $427M | $402M | 8.8% | 15.6% |
| Op. Income | $43M | $36M | $33M | 19.2% | 31.0% |
| Gross Margin | 80.1% | 80.2% | 55.7% | -0.2pp | 24.4pp |
| Net Margin | 4.8% | -3.3% | -0.5% | 8.1pp | 5.3pp |
| EPS (Diluted) | $0.14 | $-0.09 | $-0.01 | 255.6% | 1276.5% |
| Free Cash Flow | $53M | -$6M | $30M | 944.0% | 76.8% |
| Item | Amount |
|---|---|
| REVENUE | $465M |
| Cost of Revenue | $93M |
| GROSS PROFIT | $372M |
| R&D Expenses | $0 |
| Selling & Marketing | $8M |
| General & Administrative | $171M |
| SG&A Expenses | $179M |
| Other Expenses | $150M |
| Operating Expenses | $329M |
| Cost & Expenses | $421M |
| OPERATING INCOME | $43M |
| Interest Income | $0 |
| Interest Expense | $15M |
| Other Income/Expenses | -$10M |
| INCOME BEFORE TAX | $34M |
| Income Tax Expense | $11M |
| Net Income from Continuing Ops | $22M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $22M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $22M |
| D&A | $22M |
| EBIT | $48M |
| EBITDA | $70M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $465M |
| Cost of Revenue | $93M |
| GROSS PROFIT | $372M |
| R&D Expenses | $0 |
| Selling & Marketing | $8M |
| General & Administrative | $171M |
| SG&A Expenses | $179M |
| Other Expenses | $150M |
| Operating Expenses | $329M |
| Cost & Expenses | $421M |
| OPERATING INCOME | $43M |
| Interest Income | $0 |
| Interest Expense | $15M |
| Other Income/Expenses | -$10M |
| INCOME BEFORE TAX | $34M |
| Income Tax Expense | $11M |
| Net Income from Continuing Ops | $22M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $22M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $22M |
| D&A | $22M |
| EBIT | $48M |
| EBITDA | $70M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $22M |
| Depreciation & Amortization | $22M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $4M |
| Other Non-Cash Items | $45M |
| Change in Working Capital | -$2M |
| OPERATING CASH FLOW | $91M |
| Capital Expenditure | -$38M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$188.0K |
| Sales/Maturities of Investments | $402.0K |
| Other Investing Activities | $507.0K |
| NET CASH FROM INVESTING | -$37M |
| Net Debt Issuance | -$2M |
| Common Stock Repurchased | -$10M |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$21M |
| NET CASH FROM FINANCING | -$33M |
| FREE CASH FLOW | $53M |
| Net Change in Cash | $22M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $86M |
| Short-Term Investments | $0 |
| Net Receivables | $17M |
| Inventory | $41M |
| Other Current Assets | $53M |
| TOTAL CURRENT ASSETS | $197M |
| PP&E (Net) | $973M |
| Goodwill | $678M |
| Intangible Assets | $154M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $9M |
| TOTAL NON-CURRENT ASSETS | $1.8B |
| TOTAL ASSETS | $2.0B |
| Account Payables | $0 |
| Short-Term Debt | $97M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $147M |
| TOTAL CURRENT LIABILITIES | $244M |
| Long-Term Debt | $576M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $755M |
| TOTAL NON-CURRENT LIABILITIES | $1.3B |
| TOTAL LIABILITIES | $1.6B |
| Common Stock | $0 |
| Additional Paid-In Capital | $0 |
| Retained Earnings | -$273M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $13M |
| Other Equity | $695M |
| TOTAL STOCKHOLDERS' EQUITY | $436M |
| Minority Interest | $0 |
| TOTAL EQUITY | $436M |
| TOTAL LIABILITIES & EQUITY | $2.0B |
| Total Debt | $673M |
| Net Debt | $587M |
