| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $480M | $487M | — | -1.4% | — |
| Op. Income | -$8M | $21M | — | -135.7% | — |
| Gross Margin | 2.9% | 8.6% | — | -5.7pp | — |
| Net Margin | -17.8% | 4.6% | — | -22.4pp | — |
| EPS (Diluted) | $-1.00 | $0.26 | — | -484.6% | — |
| Free Cash Flow | $33M | -$16M | — | 301.2% | — |
| Item | Amount |
|---|---|
| REVENUE | $480M |
| Cost of Revenue | $467M |
| GROSS PROFIT | $14M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $21M |
| Other Expenses | $0 |
| Operating Expenses | $21M |
| Cost & Expenses | $488M |
| OPERATING INCOME | -$8M |
| Interest Income | $0 |
| Interest Expense | $9M |
| Other Income/Expenses | -$100M |
| INCOME BEFORE TAX | -$107M |
| Income Tax Expense | -$22M |
| Net Income from Continuing Ops | -$86M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$86M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$86M |
| D&A | $59M |
| EBIT | -$98M |
| EBITDA | -$39M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$86M |
| Depreciation & Amortization | $59M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | -$24M |
| Other Non-Cash Items | $91M |
| Change in Working Capital | $17M |
| OPERATING CASH FLOW | $57M |
| Capital Expenditure | -$24M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$400.0K |
| NET CASH FROM INVESTING | -$24M |
| Net Debt Issuance | -$12M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | -$10M |
| Other Financing Activities | -$2M |
| NET CASH FROM FINANCING | -$24M |
| FREE CASH FLOW | $33M |
| Net Change in Cash | $8M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $89M |
| Short-Term Investments | $0 |
| Net Receivables | $136M |
| Inventory | $220M |
| Other Current Assets | $19M |
| TOTAL CURRENT ASSETS | $463M |
| PP&E (Net) | $1.2B |
| Goodwill | $56M |
| Intangible Assets | $44M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $25M |
| TOTAL NON-CURRENT ASSETS | $1.3B |
| TOTAL ASSETS | $1.8B |
| Account Payables | $157M |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $62M |
| TOTAL CURRENT LIABILITIES | $220M |
| Long-Term Debt | $688M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $190M |
| Other Non-Current Liabilities | $66M |
| TOTAL NON-CURRENT LIABILITIES | $944M |
| TOTAL LIABILITIES | $1.2B |
| Common Stock | $1M |
| Additional Paid-In Capital | $732M |
| Retained Earnings | $52M |
| Treasury Stock | -$184M |
| Accum. Other Comp. Income | -$4M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $597M |
| Minority Interest | $29M |
| TOTAL EQUITY | $626M |
| TOTAL LIABILITIES & EQUITY | $1.8B |
| Total Debt | $688M |
| Net Debt | $599M |
