| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $314M | $308M | $377M | 1.8% | -16.7% |
| Op. Income | -$3M | $164M | $61M | -101.6% | -104.3% |
| Gross Margin | 6.6% | 58.9% | 58.3% | -52.3pp | -51.7pp |
| Net Margin | -101.8% | 0.6% | -3.6% | -102.4pp | -98.2pp |
| EPS (Diluted) | $-2.08 | $-0.02 | $-0.08 | -9064.0% | -2490.9% |
| Free Cash Flow | -$44M | $177M | $5M | -124.9% | -1004.7% |
| Item | Amount |
|---|---|
| REVENUE | $314M |
| Cost of Revenue | $293M |
| GROSS PROFIT | $21M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $23M |
| Other Expenses | $0 |
| Operating Expenses | $23M |
| Cost & Expenses | $317M |
| OPERATING INCOME | -$3M |
| Interest Income | $0 |
| Interest Expense | $20M |
| Other Income/Expenses | -$353M |
| INCOME BEFORE TAX | -$356M |
| Income Tax Expense | -$36M |
| Net Income from Continuing Ops | -$320M |
| Net Income from Discontinued Ops | $340.3K |
| Other Adjustments | $0 |
| NET INCOME | -$320M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$320M |
| D&A | $167M |
| EBIT | -$3M |
| EBITDA | $164M |
| EPS | -$2 |
| EPS Diluted | -$2 |
| Item | Amount |
|---|---|
| Net Income | -$320M |
| Depreciation & Amortization | $167M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | -$23M |
| Other Non-Cash Items | $329M |
| Change in Working Capital | -$55M |
| OPERATING CASH FLOW | $97M |
| Capital Expenditure | -$141M |
| Acquisitions (Net) | -$1M |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $31M |
| Other Investing Activities | $31M |
| NET CASH FROM INVESTING | -$80M |
| Net Debt Issuance | -$1M |
| Common Stock Repurchased | -$5M |
| Common Dividends Paid | -$29M |
| Other Financing Activities | -$2M |
| NET CASH FROM FINANCING | -$37M |
| FREE CASH FLOW | -$44M |
| Net Change in Cash | -$15M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $14M |
| Short-Term Investments | $0 |
| Net Receivables | $200M |
| Inventory | $34M |
| Other Current Assets | $57M |
| TOTAL CURRENT ASSETS | $341M |
| PP&E (Net) | $3.3B |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $50M |
| Tax Assets | $14M |
| Other Non-Current Assets | $208M |
| TOTAL NON-CURRENT ASSETS | $3.6B |
| TOTAL ASSETS | $3.9B |
| Account Payables | $344M |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $44M |
| TOTAL CURRENT LIABILITIES | $405M |
| Long-Term Debt | $908M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $231M |
| Other Non-Current Liabilities | $700M |
| TOTAL NON-CURRENT LIABILITIES | $1.9B |
| TOTAL LIABILITIES | $2.3B |
| Common Stock | $2.8B |
| Additional Paid-In Capital | $34M |
| Retained Earnings | -$1.4B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $207M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $1.6B |
| Minority Interest | $0 |
| TOTAL EQUITY | $1.6B |
| TOTAL LIABILITIES & EQUITY | $3.9B |
| Total Debt | $944M |
| Net Debt | $930M |
