| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $250M | $250M | $240M | 0.1% | 4.3% |
| Op. Income | $84M | $77M | $76M | 9.6% | 10.9% |
| Gross Margin | 69.3% | 65.4% | 65.9% | 3.8pp | 3.3pp |
| Net Margin | 13.8% | 11.4% | 8.1% | 2.4pp | 5.7pp |
| EPS (Diluted) | $0.26 | $0.22 | $0.13 | 18.2% | 100.0% |
| Free Cash Flow | $52M | $101M | $20M | -48.7% | 162.1% |
| Item | Amount |
|---|---|
| REVENUE | $250M |
| Cost of Revenue | $77M |
| GROSS PROFIT | $173M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $89M |
| Operating Expenses | $89M |
| Cost & Expenses | $166M |
| OPERATING INCOME | $84M |
| Interest Income | $0 |
| Interest Expense | $47M |
| Other Income/Expenses | -$47M |
| INCOME BEFORE TAX | $37M |
| Income Tax Expense | $2M |
| Net Income from Continuing Ops | $34M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $34M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $33M |
| D&A | $71M |
| EBIT | $84M |
| EBITDA | $155M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $250M |
| Cost of Revenue | $77M |
| GROSS PROFIT | $173M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $89M |
| Operating Expenses | $89M |
| Cost & Expenses | $166M |
| OPERATING INCOME | $84M |
| Interest Income | $0 |
| Interest Expense | $47M |
| Other Income/Expenses | -$47M |
| INCOME BEFORE TAX | $37M |
| Income Tax Expense | $2M |
| Net Income from Continuing Ops | $34M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $34M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $33M |
| D&A | $71M |
| EBIT | $84M |
| EBITDA | $155M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $34M |
| Depreciation & Amortization | $71M |
| Stock-Based Compensation | $1M |
| Deferred Income Tax | -$16.0K |
| Other Non-Cash Items | $4M |
| Change in Working Capital | -$35M |
| OPERATING CASH FLOW | $76M |
| Capital Expenditure | -$24M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $610.0K |
| NET CASH FROM INVESTING | -$23M |
| Net Debt Issuance | $34M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | -$65M |
| Other Financing Activities | -$17M |
| NET CASH FROM FINANCING | -$53M |
| FREE CASH FLOW | $52M |
| Net Change in Cash | -$2.0K |
| Item | Amount |
|---|---|
| Cash & Equivalents | $0 |
| Short-Term Investments | $0 |
| Net Receivables | $104M |
| Inventory | $137M |
| Other Current Assets | $10M |
| TOTAL CURRENT ASSETS | $252M |
| PP&E (Net) | $2.2B |
| Goodwill | $0 |
| Intangible Assets | $194M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $18M |
| TOTAL NON-CURRENT ASSETS | $2.4B |
| TOTAL ASSETS | $2.7B |
| Account Payables | $41M |
| Short-Term Debt | $0 |
| Deferred Revenue | $65M |
| Other Current Liabilities | $50M |
| TOTAL CURRENT LIABILITIES | $185M |
| Long-Term Debt | $2.5B |
| Deferred Revenue NC | $5M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $6M |
| TOTAL NON-CURRENT LIABILITIES | $2.6B |
| TOTAL LIABILITIES | $2.7B |
| Common Stock | -$150M |
| Additional Paid-In Capital | $0 |
| Retained Earnings | $0 |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | -$77M |
| Minority Interest | $0 |
| TOTAL EQUITY | -$77M |
| TOTAL LIABILITIES & EQUITY | $2.7B |
| Total Debt | $2.5B |
| Net Debt | $2.5B |
