| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $1.2B | $1.1B | — | 6.1% | — |
| Op. Income | $319M | $59M | — | 441.1% | — |
| Gross Margin | 68.9% | 88.1% | — | -19.2pp | — |
| Net Margin | -2.6% | -11.7% | — | 9.1pp | — |
| EPS (Diluted) | $-0.59 | $-1.91 | — | 69.1% | — |
| Free Cash Flow | $255M | $157M | — | 61.8% | — |
| Item | Amount |
|---|---|
| REVENUE | $1.2B |
| Cost of Revenue | $368M |
| GROSS PROFIT | $815M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $496M |
| Other Expenses | $0 |
| Operating Expenses | $496M |
| Cost & Expenses | $864M |
| OPERATING INCOME | $319M |
| Interest Income | $18M |
| Interest Expense | $144M |
| Other Income/Expenses | -$263M |
| INCOME BEFORE TAX | $57M |
| Income Tax Expense | $65M |
| Net Income from Continuing Ops | -$8M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$31M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$31M |
| D&A | $206M |
| EBIT | $319M |
| EBITDA | $525M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$31M |
| Depreciation & Amortization | $206M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $184M |
| Change in Working Capital | $109M |
| OPERATING CASH FLOW | $468M |
| Capital Expenditure | -$213M |
| Acquisitions (Net) | $453M |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$335M |
| NET CASH FROM INVESTING | -$315M |
| Net Debt Issuance | $174M |
| Common Stock Repurchased | -$107M |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$161M |
| NET CASH FROM FINANCING | -$94M |
| FREE CASH FLOW | $255M |
| Net Change in Cash | $69M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $1.7B |
| Short-Term Investments | $0 |
| Net Receivables | $644M |
| Inventory | $32M |
| Other Current Assets | $705M |
| TOTAL CURRENT ASSETS | $3.1B |
| PP&E (Net) | $3.8B |
| Goodwill | $0 |
| Intangible Assets | $1.5B |
| Long-Term Investments | $144M |
| Tax Assets | $418M |
| Other Non-Current Assets | $234M |
| TOTAL NON-CURRENT ASSETS | $6.1B |
| TOTAL ASSETS | $9.2B |
| Account Payables | $1.4B |
| Short-Term Debt | $1.1B |
| Deferred Revenue | $0 |
| Other Current Liabilities | $800M |
| TOTAL CURRENT LIABILITIES | $3.4B |
| Long-Term Debt | $4.0B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $41M |
| Other Non-Current Liabilities | $65M |
| TOTAL NON-CURRENT LIABILITIES | $4.1B |
| TOTAL LIABILITIES | $7.6B |
| Common Stock | $0 |
| Additional Paid-In Capital | $0 |
| Retained Earnings | $0 |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $1.3B |
| TOTAL STOCKHOLDERS' EQUITY | $1.3B |
| Minority Interest | $294M |
| TOTAL EQUITY | $1.6B |
| TOTAL LIABILITIES & EQUITY | $9.2B |
| Total Debt | $5.1B |
| Net Debt | $3.4B |
