| Metric | Q1 2025 | Q4 2024 | Q1 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $897M | — | $718M | — | 24.9% |
| Op. Income | -$9M | — | -$70M | — | 86.9% |
| Gross Margin | 26.2% | — | 20.8% | — | 5.4pp |
| Net Margin | -11.8% | — | -68.8% | — | 57.1pp |
| EPS (Diluted) | $-0.24 | — | $-2.23 | — | 89.2% |
| Free Cash Flow | $442M | — | $252M | — | 75.1% |
| Item | Amount |
|---|---|
| REVENUE | $897M |
| Cost of Revenue | $662M |
| GROSS PROFIT | $235M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $244M |
| Other Expenses | $0 |
| Operating Expenses | $244M |
| Cost & Expenses | $906M |
| OPERATING INCOME | -$9M |
| Interest Income | $20M |
| Interest Expense | $87M |
| Other Income/Expenses | -$93M |
| INCOME BEFORE TAX | -$102M |
| Income Tax Expense | $3M |
| Net Income from Continuing Ops | -$105M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$105M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$105M |
| D&A | $69M |
| EBIT | -$16M |
| EBITDA | $53M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$105M |
| Depreciation & Amortization | $69M |
| Stock-Based Compensation | $14M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $89M |
| Change in Working Capital | $522M |
| OPERATING CASH FLOW | $588M |
| Capital Expenditure | -$146M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $16M |
| NET CASH FROM INVESTING | -$130M |
| Net Debt Issuance | -$61M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$123M |
| NET CASH FROM FINANCING | -$185M |
| FREE CASH FLOW | $442M |
| Net Change in Cash | $276M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $2.8B |
| Short-Term Investments | $0 |
| Net Receivables | $232M |
| Inventory | $92M |
| Other Current Assets | $606M |
| TOTAL CURRENT ASSETS | $3.7B |
| PP&E (Net) | $6.8B |
| Goodwill | $0 |
| Intangible Assets | $71M |
| Long-Term Investments | $0 |
| Tax Assets | $54M |
| Other Non-Current Assets | $84M |
| TOTAL NON-CURRENT ASSETS | $7.0B |
| TOTAL ASSETS | $10.7B |
| Account Payables | $267M |
| Short-Term Debt | $467M |
| Deferred Revenue | $4.8B |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $5.9B |
| Long-Term Debt | $4.8B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $44M |
| TOTAL NON-CURRENT LIABILITIES | $5.1B |
| TOTAL LIABILITIES | $11.0B |
| Common Stock | $0 |
| Additional Paid-In Capital | $0 |
| Retained Earnings | $0 |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | -$267M |
| TOTAL STOCKHOLDERS' EQUITY | -$267M |
| Minority Interest | $0 |
| TOTAL EQUITY | -$267M |
| TOTAL LIABILITIES & EQUITY | $10.7B |
| Total Debt | $5.5B |
| Net Debt | $2.8B |
