| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $252M | $250M | $246M | 0.9% | 2.7% |
| Op. Income | $78M | $84M | $75M | -6.5% | 5.3% |
| Gross Margin | 38.2% | 69.3% | 70.0% | -31.1pp | -31.9pp |
| Net Margin | 11.0% | 13.8% | 10.3% | -2.8pp | 0.6pp |
| EPS (Diluted) | $0.22 | $0.26 | $0.18 | -15.4% | 22.2% |
| Free Cash Flow | $88M | $52M | $101M | 69.1% | -13.3% |
| Item | Amount |
|---|---|
| REVENUE | $252M |
| Cost of Revenue | $156M |
| GROSS PROFIT | $96M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $18M |
| Other Expenses | $0 |
| Operating Expenses | $18M |
| Cost & Expenses | $174M |
| OPERATING INCOME | $78M |
| Interest Income | $0 |
| Interest Expense | $45M |
| Other Income/Expenses | -$50M |
| INCOME BEFORE TAX | $28M |
| Income Tax Expense | $536.0K |
| Net Income from Continuing Ops | $28M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $28M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $28M |
| D&A | $73M |
| EBIT | $78M |
| EBITDA | $151M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $252M |
| Cost of Revenue | $156M |
| GROSS PROFIT | $96M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $18M |
| Other Expenses | $0 |
| Operating Expenses | $18M |
| Cost & Expenses | $174M |
| OPERATING INCOME | $78M |
| Interest Income | $0 |
| Interest Expense | $45M |
| Other Income/Expenses | -$50M |
| INCOME BEFORE TAX | $28M |
| Income Tax Expense | $536.0K |
| Net Income from Continuing Ops | $28M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $28M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $28M |
| D&A | $73M |
| EBIT | $78M |
| EBITDA | $151M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $28M |
| Depreciation & Amortization | $72M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $436.0K |
| Other Non-Cash Items | $8M |
| Change in Working Capital | $31M |
| OPERATING CASH FLOW | $139M |
| Capital Expenditure | -$52M |
| Acquisitions (Net) | $568.0K |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$51M |
| Net Debt Issuance | -$10M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | -$65M |
| Other Financing Activities | -$3M |
| NET CASH FROM FINANCING | -$80M |
| FREE CASH FLOW | $88M |
| Net Change in Cash | $9M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $9M |
| Short-Term Investments | $0 |
| Net Receivables | $82M |
| Inventory | $134M |
| Other Current Assets | $11M |
| TOTAL CURRENT ASSETS | $237M |
| PP&E (Net) | $2.2B |
| Goodwill | $0 |
| Intangible Assets | $187M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $20M |
| TOTAL NON-CURRENT ASSETS | $2.4B |
| TOTAL ASSETS | $2.6B |
| Account Payables | $28M |
| Short-Term Debt | $5M |
| Deferred Revenue | $65M |
| Other Current Liabilities | $64M |
| TOTAL CURRENT LIABILITIES | $187M |
| Long-Term Debt | $2.5B |
| Deferred Revenue NC | $4M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | -$5M |
| TOTAL NON-CURRENT LIABILITIES | $2.5B |
| TOTAL LIABILITIES | $2.7B |
| Common Stock | -$113M |
| Additional Paid-In Capital | $0 |
| Retained Earnings | $0 |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | -$113M |
| Minority Interest | $0 |
| TOTAL EQUITY | -$113M |
| TOTAL LIABILITIES & EQUITY | $2.6B |
| Total Debt | $2.6B |
| Net Debt | $2.5B |
