| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $2.3B | $1.5B | $2.1B | 54.2% | 7.8% |
| Op. Income | $229M | -$19M | $268M | 1305.1% | -14.6% |
| Gross Margin | 37.7% | 36.4% | 38.6% | 1.3pp | -0.9pp |
| Net Margin | 8.1% | -2.5% | 9.2% | 10.6pp | -1.1pp |
| EPS (Diluted) | $2.14 | $-0.46 | $2.33 | 565.2% | -8.2% |
| Free Cash Flow | $649M | -$232M | $646M | 379.7% | 0.5% |
| Item | Amount |
|---|---|
| REVENUE | $2.3B |
| Cost of Revenue | $1.4B |
| GROSS PROFIT | $855M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $626M |
| Other Expenses | $0 |
| Operating Expenses | $626M |
| Cost & Expenses | $2.0B |
| OPERATING INCOME | $229M |
| Interest Income | $0 |
| Interest Expense | $17M |
| Other Income/Expenses | -$14M |
| INCOME BEFORE TAX | $215M |
| Income Tax Expense | $16M |
| Net Income from Continuing Ops | $199M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $184M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $184M |
| D&A | $0 |
| EBIT | $229M |
| EBITDA | $229M |
| EPS | $2 |
| EPS Diluted | $2 |
| Item | Amount |
|---|---|
| REVENUE | $2.3B |
| Cost of Revenue | $1.4B |
| GROSS PROFIT | $855M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $626M |
| Other Expenses | $0 |
| Operating Expenses | $626M |
| Cost & Expenses | $2.0B |
| OPERATING INCOME | $229M |
| Interest Income | $0 |
| Interest Expense | $17M |
| Other Income/Expenses | -$14M |
| INCOME BEFORE TAX | $215M |
| Income Tax Expense | $16M |
| Net Income from Continuing Ops | $199M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $184M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $184M |
| D&A | $0 |
| EBIT | $229M |
| EBITDA | $229M |
| EPS | $2 |
| EPS Diluted | $2 |
| Item | Amount |
|---|---|
| Net Income | $184M |
| Depreciation & Amortization | $53M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | -$51M |
| Other Non-Cash Items | $149M |
| Change in Working Capital | $338M |
| OPERATING CASH FLOW | $673M |
| Capital Expenditure | -$24M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $3M |
| NET CASH FROM INVESTING | -$21M |
| Net Debt Issuance | -$376M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$10M |
| NET CASH FROM FINANCING | -$384M |
| FREE CASH FLOW | $649M |
| Net Change in Cash | $269M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $518M |
| Short-Term Investments | $0 |
| Net Receivables | $186M |
| Inventory | $1.1B |
| Other Current Assets | $108M |
| TOTAL CURRENT ASSETS | $1.9B |
| PP&E (Net) | $2.4B |
| Goodwill | $367M |
| Intangible Assets | $246M |
| Long-Term Investments | $53M |
| Tax Assets | $65M |
| Other Non-Current Assets | $37M |
| TOTAL NON-CURRENT ASSETS | $3.1B |
| TOTAL ASSETS | $5.0B |
| Account Payables | $493M |
| Short-Term Debt | $299M |
| Deferred Revenue | $248M |
| Other Current Liabilities | $255M |
| TOTAL CURRENT LIABILITIES | $1.5B |
| Long-Term Debt | $971M |
| Deferred Revenue NC | $9M |
| Deferred Tax Liabilities | $5M |
| Other Non-Current Liabilities | $35M |
| TOTAL NON-CURRENT LIABILITIES | $2.6B |
| TOTAL LIABILITIES | $4.1B |
| Common Stock | $1M |
| Additional Paid-In Capital | $345M |
| Retained Earnings | $504M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $6M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $856M |
| Minority Interest | $54M |
| TOTAL EQUITY | $910M |
| TOTAL LIABILITIES & EQUITY | $5.0B |
| Total Debt | $2.8B |
| Net Debt | $2.3B |
