| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $308M | $345M | $369M | -10.6% | -16.3% |
| Op. Income | $164M | $32M | $40M | 413.8% | 311.8% |
| Gross Margin | 58.9% | 52.7% | 53.0% | 6.3pp | 6.0pp |
| Net Margin | 0.6% | -49.4% | 10.2% | 50.0pp | -9.6pp |
| EPS (Diluted) | $-0.02 | $-1.10 | $0.23 | 97.9% | -109.7% |
| Free Cash Flow | $177M | $18M | $9M | 872.1% | 1986.8% |
| Item | Amount |
|---|---|
| REVENUE | $308M |
| Cost of Revenue | $127M |
| GROSS PROFIT | $182M |
| R&D Expenses | $0 |
| Selling & Marketing | $4M |
| General & Administrative | $14M |
| SG&A Expenses | $18M |
| Other Expenses | $0 |
| Operating Expenses | $18M |
| Cost & Expenses | $145M |
| OPERATING INCOME | $164M |
| Interest Income | $0 |
| Interest Expense | $25M |
| Other Income/Expenses | -$148M |
| INCOME BEFORE TAX | $16M |
| Income Tax Expense | $19M |
| Net Income from Continuing Ops | -$3M |
| Net Income from Discontinued Ops | $5M |
| Other Adjustments | $0 |
| NET INCOME | $2M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$3M |
| D&A | $141M |
| EBIT | $41M |
| EBITDA | $182M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| REVENUE | $308M |
| Cost of Revenue | $127M |
| GROSS PROFIT | $182M |
| R&D Expenses | $0 |
| Selling & Marketing | $4M |
| General & Administrative | $14M |
| SG&A Expenses | $18M |
| Other Expenses | $0 |
| Operating Expenses | $18M |
| Cost & Expenses | $145M |
| OPERATING INCOME | $164M |
| Interest Income | $0 |
| Interest Expense | $25M |
| Other Income/Expenses | -$148M |
| INCOME BEFORE TAX | $16M |
| Income Tax Expense | $19M |
| Net Income from Continuing Ops | -$3M |
| Net Income from Discontinued Ops | $5M |
| Other Adjustments | $0 |
| NET INCOME | $2M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$3M |
| D&A | $141M |
| EBIT | $41M |
| EBITDA | $182M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | $2M |
| Depreciation & Amortization | $141M |
| Stock-Based Compensation | $4M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $29M |
| Change in Working Capital | $109M |
| OPERATING CASH FLOW | $285M |
| Capital Expenditure | -$107M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $345M |
| NET CASH FROM INVESTING | $238M |
| Net Debt Issuance | -$838M |
| Common Stock Repurchased | -$5M |
| Common Dividends Paid | -$15M |
| Other Financing Activities | $318M |
| NET CASH FROM FINANCING | -$540M |
| FREE CASH FLOW | $177M |
| Net Change in Cash | -$17M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $34M |
| Short-Term Investments | $0 |
| Net Receivables | $144M |
| Inventory | $33M |
| Other Current Assets | $33M |
| TOTAL CURRENT ASSETS | $288M |
| PP&E (Net) | $4.0B |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $56M |
| Tax Assets | $0 |
| Other Non-Current Assets | $55M |
| TOTAL NON-CURRENT ASSETS | $4.1B |
| TOTAL ASSETS | $4.4B |
| Account Payables | $302M |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | -$2M |
| TOTAL CURRENT LIABILITIES | $358M |
| Long-Term Debt | $924M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $288M |
| Other Non-Current Liabilities | $765M |
| TOTAL NON-CURRENT LIABILITIES | $2.0B |
| TOTAL LIABILITIES | $2.4B |
| Common Stock | $2.8B |
| Additional Paid-In Capital | $31M |
| Retained Earnings | -$1.1B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $228M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $2.0B |
| Minority Interest | $0 |
| TOTAL EQUITY | $2.0B |
| TOTAL LIABILITIES & EQUITY | $4.4B |
| Total Debt | $969M |
| Net Debt | $935M |
