| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $3.7B | $3.8B | $3.5B | -1.5% | 5.0% |
| Op. Income | -$266M | $252M | -$180M | -205.5% | -47.7% |
| Gross Margin | 30.6% | 36.8% | 34.4% | -6.2pp | -3.8pp |
| Net Margin | -9.2% | -3.4% | -14.6% | -5.8pp | 5.5pp |
| EPS (Diluted) | $-0.30 | $-0.11 | $-0.43 | -172.7% | 30.2% |
| Free Cash Flow | $551M | $645M | $329M | -14.7% | 67.2% |
| Item | Amount |
|---|---|
| REVENUE | $3.7B |
| Cost of Revenue | $2.6B |
| GROSS PROFIT | $1.1B |
| R&D Expenses | $275M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $1.0B |
| Other Expenses | $95M |
| Operating Expenses | $1.4B |
| Cost & Expenses | $4.0B |
| OPERATING INCOME | -$266M |
| Interest Income | $0 |
| Interest Expense | $120M |
| Other Income/Expenses | -$78M |
| INCOME BEFORE TAX | -$343M |
| Income Tax Expense | -$3M |
| Net Income from Continuing Ops | -$340M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$340M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$340M |
| D&A | $767M |
| EBIT | -$223M |
| EBITDA | $543M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$340M |
| Depreciation & Amortization | $767M |
| Stock-Based Compensation | $49M |
| Deferred Income Tax | -$248M |
| Other Non-Cash Items | $2.0B |
| Change in Working Capital | -$1.4B |
| OPERATING CASH FLOW | $816M |
| Capital Expenditure | -$265M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$6M |
| Sales/Maturities of Investments | $6M |
| Other Investing Activities | $54M |
| NET CASH FROM INVESTING | -$211M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | -$85M |
| Common Dividends Paid | -$138M |
| Other Financing Activities | -$14M |
| NET CASH FROM FINANCING | -$236M |
| FREE CASH FLOW | $551M |
| Net Change in Cash | $345M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $1.3B |
| Short-Term Investments | $106M |
| Net Receivables | $3.3B |
| Inventory | $4.0B |
| Other Current Assets | $195M |
| TOTAL CURRENT ASSETS | $9.2B |
| PP&E (Net) | $2.9B |
| Goodwill | $6.8B |
| Intangible Assets | $15.1B |
| Long-Term Investments | $815M |
| Tax Assets | $1.1B |
| Other Non-Current Assets | $1.4B |
| TOTAL NON-CURRENT ASSETS | $28.0B |
| TOTAL ASSETS | $37.2B |
| Account Payables | $1.3B |
| Short-Term Debt | $2.0B |
| Deferred Revenue | $0 |
| Other Current Liabilities | $2.9B |
| TOTAL CURRENT LIABILITIES | $7.1B |
| Long-Term Debt | $12.5B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $892M |
| Other Non-Current Liabilities | $1.8B |
| TOTAL NON-CURRENT LIABILITIES | $15.4B |
| TOTAL LIABILITIES | $22.5B |
| Common Stock | $13M |
| Additional Paid-In Capital | $18.8B |
| Retained Earnings | -$388M |
| Treasury Stock | -$1.0B |
| Accum. Other Comp. Income | -$2.7B |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $14.7B |
| Minority Interest | $0 |
| TOTAL EQUITY | $14.7B |
| TOTAL LIABILITIES & EQUITY | $37.2B |
| Total Debt | $14.7B |
| Net Debt | $13.4B |
