| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $691M | $634M | $471M | 9.0% | 46.8% |
| Op. Income | -$664M | -$501M | -$310M | -32.5% | -114.1% |
| Gross Margin | -56.2% | -41.1% | -24.0% | -15.1pp | -32.2pp |
| Net Margin | -132.3% | -122.3% | -107.3% | -10.0pp | -25.0pp |
| EPS (Diluted) | $-0.39 | $-0.33 | $-0.22 | -17.9% | -81.0% |
| Free Cash Flow | -$679M | -$645M | -$548M | -5.2% | -23.7% |
| Item | Amount |
|---|---|
| REVENUE | $691M |
| Cost of Revenue | $1.1B |
| GROSS PROFIT | -$388M |
| R&D Expenses | $102M |
| Selling & Marketing | $70M |
| General & Administrative | $95M |
| SG&A Expenses | $165M |
| Other Expenses | $8M |
| Operating Expenses | $276M |
| Cost & Expenses | $1.4B |
| OPERATING INCOME | -$664M |
| Interest Income | $2M |
| Interest Expense | $229M |
| Other Income/Expenses | -$246M |
| INCOME BEFORE TAX | -$910M |
| Income Tax Expense | $7M |
| Net Income from Continuing Ops | -$917M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$915M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$915M |
| D&A | $105M |
| EBIT | -$681M |
| EBITDA | -$576M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$917M |
| Depreciation & Amortization | $105M |
| Stock-Based Compensation | $3M |
| Deferred Income Tax | $7M |
| Other Non-Cash Items | $313M |
| Change in Working Capital | $62M |
| OPERATING CASH FLOW | -$427M |
| Capital Expenditure | -$251M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$7M |
| NET CASH FROM INVESTING | -$259M |
| Net Debt Issuance | -$498M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $87.6K |
| NET CASH FROM FINANCING | $486M |
| FREE CASH FLOW | -$679M |
| Net Change in Cash | -$209M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $336M |
| Short-Term Investments | $107M |
| Net Receivables | $976M |
| Inventory | $1.4B |
| Other Current Assets | $29M |
| TOTAL CURRENT ASSETS | $3.4B |
| PP&E (Net) | $3.4B |
| Goodwill | $0 |
| Intangible Assets | $40M |
| Long-Term Investments | $74M |
| Tax Assets | $0 |
| Other Non-Current Assets | $138M |
| TOTAL NON-CURRENT ASSETS | $3.6B |
| TOTAL ASSETS | $7.0B |
| Account Payables | $1.1B |
| Short-Term Debt | $1.3B |
| Deferred Revenue | $82M |
| Other Current Liabilities | $1.4B |
| TOTAL CURRENT LIABILITIES | $6.7B |
| Long-Term Debt | $1.8B |
| Deferred Revenue NC | $114M |
| Deferred Tax Liabilities | $51M |
| Other Non-Current Liabilities | $1.9B |
| TOTAL NON-CURRENT LIABILITIES | $4.1B |
| TOTAL LIABILITIES | $10.8B |
| Common Stock | $377M |
| Additional Paid-In Capital | $6.5B |
| Retained Earnings | -$12.6B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$37M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | -$5.8B |
| Minority Interest | $2.0B |
| TOTAL EQUITY | -$3.8B |
| TOTAL LIABILITIES & EQUITY | $7.0B |
| Total Debt | $3.3B |
| Net Debt | $3.0B |
