| Metric | Q1 2026 | Q4 2025 | Q1 2025 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $577M | $611M | $414M | -5.6% | 39.2% |
| Op. Income | $14M | -$19M | -$18M | 173.1% | 175.7% |
| Gross Margin | 54.9% | 52.0% | 51.7% | 2.8pp | 3.1pp |
| Net Margin | 5.4% | -1.2% | 2.8% | 6.6pp | 2.7pp |
| EPS (Diluted) | $0.15 | $-0.11 | $0.17 | 236.4% | -11.8% |
| Free Cash Flow | $348M | -$226M | $247M | 253.7% | 40.9% |
| Item | Amount |
|---|---|
| REVENUE | $577M |
| Cost of Revenue | $260M |
| GROSS PROFIT | $316M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $303M |
| Other Expenses | $0 |
| Operating Expenses | $303M |
| Cost & Expenses | $563M |
| OPERATING INCOME | $14M |
| Interest Income | $19M |
| Interest Expense | $0 |
| Other Income/Expenses | $29M |
| INCOME BEFORE TAX | $42M |
| Income Tax Expense | $11M |
| Net Income from Continuing Ops | $31M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $31M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $31M |
| D&A | $0 |
| EBIT | $14M |
| EBITDA | $14M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $577M |
| Cost of Revenue | $260M |
| GROSS PROFIT | $316M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $303M |
| Other Expenses | $0 |
| Operating Expenses | $303M |
| Cost & Expenses | $563M |
| OPERATING INCOME | $14M |
| Interest Income | $19M |
| Interest Expense | $0 |
| Other Income/Expenses | $29M |
| INCOME BEFORE TAX | $42M |
| Income Tax Expense | $11M |
| Net Income from Continuing Ops | $31M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $31M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $31M |
| D&A | $0 |
| EBIT | $14M |
| EBITDA | $14M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $31M |
| Depreciation & Amortization | $0 |
| Stock-Based Compensation | $11M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $306M |
| Change in Working Capital | $0 |
| OPERATING CASH FLOW | $348M |
| Capital Expenditure | $0 |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$527M |
| NET CASH FROM INVESTING | -$527M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$254M |
| NET CASH FROM FINANCING | -$254M |
| FREE CASH FLOW | $348M |
| Net Change in Cash | -$433M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $1.5B |
| Short-Term Investments | $2.2B |
| Net Receivables | $26.0K |
| Inventory | $137M |
| Other Current Assets | $232M |
| TOTAL CURRENT ASSETS | $4.1B |
| PP&E (Net) | $874M |
| Goodwill | $45M |
| Intangible Assets | $49M |
| Long-Term Investments | $408M |
| Tax Assets | $3M |
| Other Non-Current Assets | $236M |
| TOTAL NON-CURRENT ASSETS | $1.6B |
| TOTAL ASSETS | $5.7B |
| Account Payables | $160M |
| Short-Term Debt | $98M |
| Deferred Revenue | $930M |
| Other Current Liabilities | -$98M |
| TOTAL CURRENT LIABILITIES | $1.8B |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $38M |
| Deferred Tax Liabilities | $5M |
| Other Non-Current Liabilities | $0 |
| TOTAL NON-CURRENT LIABILITIES | $319M |
| TOTAL LIABILITIES | $2.1B |
| Common Stock | $203.0K |
| Additional Paid-In Capital | $4.1B |
| Retained Earnings | -$591M |
| Treasury Stock | -$8.0K |
| Accum. Other Comp. Income | $110M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $3.6B |
| Minority Interest | -$236.0K |
| TOTAL EQUITY | $3.6B |
| TOTAL LIABILITIES & EQUITY | $5.7B |
| Total Debt | $374M |
| Net Debt | -$1.2B |
