| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $537M | $596M | — | -9.8% | — |
| Op. Income | $56M | $126M | — | -55.3% | — |
| Gross Margin | 15.5% | 31.9% | — | -16.4pp | — |
| Net Margin | 133.5% | 31.6% | — | 101.9pp | — |
| EPS (Diluted) | $10.26 | $2.65 | — | 287.2% | — |
| Free Cash Flow | -$39M | $128M | — | -130.0% | — |
| Item | Amount |
|---|---|
| REVENUE | $537M |
| Cost of Revenue | $454M |
| GROSS PROFIT | $83M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $27M |
| SG&A Expenses | $27M |
| Other Expenses | $0 |
| Operating Expenses | $27M |
| Cost & Expenses | $481M |
| OPERATING INCOME | $56M |
| Interest Income | $19M |
| Interest Expense | $25M |
| Other Income/Expenses | -$20M |
| INCOME BEFORE TAX | $36M |
| Income Tax Expense | -$680M |
| Net Income from Continuing Ops | $717M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $718M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $718M |
| D&A | $41M |
| EBIT | $61M |
| EBITDA | $102M |
| EPS | $10 |
| EPS Diluted | $10 |
| Item | Amount |
|---|---|
| REVENUE | $537M |
| Cost of Revenue | $454M |
| GROSS PROFIT | $83M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $27M |
| SG&A Expenses | $27M |
| Other Expenses | $0 |
| Operating Expenses | $27M |
| Cost & Expenses | $481M |
| OPERATING INCOME | $56M |
| Interest Income | $19M |
| Interest Expense | $25M |
| Other Income/Expenses | -$20M |
| INCOME BEFORE TAX | $36M |
| Income Tax Expense | -$680M |
| Net Income from Continuing Ops | $717M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $718M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $718M |
| D&A | $41M |
| EBIT | $61M |
| EBITDA | $102M |
| EPS | $10 |
| EPS Diluted | $10 |
| Item | Amount |
|---|---|
| Net Income | $718M |
| Depreciation & Amortization | $41M |
| Stock-Based Compensation | $7M |
| Deferred Income Tax | -$688M |
| Other Non-Cash Items | $32M |
| Change in Working Capital | -$44M |
| OPERATING CASH FLOW | $65M |
| Capital Expenditure | -$103M |
| Acquisitions (Net) | -$748.5K |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$104M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | -$24M |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$450.8K |
| NET CASH FROM FINANCING | -$24M |
| FREE CASH FLOW | -$39M |
| Net Change in Cash | -$69M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $606M |
| Short-Term Investments | $0 |
| Net Receivables | $479M |
| Inventory | $0 |
| Other Current Assets | $31M |
| TOTAL CURRENT ASSETS | $1.2B |
| PP&E (Net) | $2.2B |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $491M |
| Tax Assets | $1.4B |
| Other Non-Current Assets | $104M |
| TOTAL NON-CURRENT ASSETS | $4.1B |
| TOTAL ASSETS | $5.3B |
| Account Payables | $348M |
| Short-Term Debt | $36M |
| Deferred Revenue | $88M |
| Other Current Liabilities | $117M |
| TOTAL CURRENT LIABILITIES | $692M |
| Long-Term Debt | $1.1B |
| Deferred Revenue NC | $63M |
| Deferred Tax Liabilities | $166M |
| Other Non-Current Liabilities | $52M |
| TOTAL NON-CURRENT LIABILITIES | $1.4B |
| TOTAL LIABILITIES | $2.1B |
| Common Stock | $800.0K |
| Additional Paid-In Capital | $1.1B |
| Retained Earnings | $2.4B |
| Treasury Stock | -$425M |
| Accum. Other Comp. Income | $77M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $3.2B |
| Minority Interest | $2M |
| TOTAL EQUITY | $3.2B |
| TOTAL LIABILITIES & EQUITY | $5.3B |
| Total Debt | $1.2B |
| Net Debt | $590M |
