| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $308M | $268M | $313M | 14.8% | -1.6% |
| Op. Income | -$2.0B | -$1.1B | -$23M | -80.5% | -8699.4% |
| Gross Margin | 30.1% | 28.0% | 35.8% | 2.1pp | -5.7pp |
| Net Margin | -566.9% | -424.9% | -13.8% | -141.9pp | -553.0pp |
| EPS (Diluted) | $-17.80 | $-12.60 | $-0.55 | -41.3% | -3136.4% |
| Free Cash Flow | -$29M | -$25M | $30M | -18.0% | -199.0% |
| Item | Amount |
|---|---|
| REVENUE | $308M |
| Cost of Revenue | $215M |
| GROSS PROFIT | $93M |
| R&D Expenses | $46.7K |
| Selling & Marketing | $32M |
| General & Administrative | $50M |
| SG&A Expenses | $82M |
| Other Expenses | $2.0B |
| Operating Expenses | $2.1B |
| Cost & Expenses | $2.3B |
| OPERATING INCOME | -$2.0B |
| Interest Income | $0 |
| Interest Expense | $5M |
| Other Income/Expenses | $70M |
| INCOME BEFORE TAX | -$1.9B |
| Income Tax Expense | -$172M |
| Net Income from Continuing Ops | -$1.7B |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$1.7B |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$1.7B |
| D&A | $47M |
| EBIT | -$1.9B |
| EBITDA | -$1.8B |
| EPS | -$18 |
| EPS Diluted | -$18 |
| Item | Amount |
|---|---|
| Net Income | -$1.7B |
| Depreciation & Amortization | $47M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | -$168M |
| Other Non-Cash Items | $1.9B |
| Change in Working Capital | -$17M |
| OPERATING CASH FLOW | -$20M |
| Capital Expenditure | -$9M |
| Acquisitions (Net) | $8M |
| Purchases of Investments | $18M |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $17M |
| Net Debt Issuance | -$5M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$3M |
| NET CASH FROM FINANCING | $26M |
| FREE CASH FLOW | -$29M |
| Net Change in Cash | $30M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $304M |
| Short-Term Investments | $48M |
| Net Receivables | $167M |
| Inventory | $372M |
| Other Current Assets | $55M |
| TOTAL CURRENT ASSETS | $945M |
| PP&E (Net) | $811M |
| Goodwill | $1.0B |
| Intangible Assets | $29M |
| Long-Term Investments | $14M |
| Tax Assets | $58M |
| Other Non-Current Assets | $15M |
| TOTAL NON-CURRENT ASSETS | $2.0B |
| TOTAL ASSETS | $2.9B |
| Account Payables | $147M |
| Short-Term Debt | $40M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $196M |
| TOTAL CURRENT LIABILITIES | $385M |
| Long-Term Debt | $322M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $63M |
| Other Non-Current Liabilities | $1M |
| TOTAL NON-CURRENT LIABILITIES | $476M |
| TOTAL LIABILITIES | $860M |
| Common Stock | $145.5K |
| Additional Paid-In Capital | $8.8B |
| Retained Earnings | -$6.7B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$59M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $2.1B |
| Minority Interest | -$30M |
| TOTAL EQUITY | $2.0B |
| TOTAL LIABILITIES & EQUITY | $2.9B |
| Total Debt | $451M |
| Net Debt | $147M |
