| Metric | Q1 2026 | Q4 2025 | Q1 2025 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $462M | — | $414M | — | 11.5% |
| Op. Income | $66M | — | $144M | — | -54.3% |
| Gross Margin | 37.4% | — | 36.9% | — | 0.4pp |
| Net Margin | -7.1% | — | 22.1% | — | -29.2pp |
| EPS (Diluted) | $-0.26 | — | $0.71 | — | -136.6% |
| Free Cash Flow | $7M | — | -$12M | — | 159.7% |
| Item | Amount |
|---|---|
| REVENUE | $462M |
| Cost of Revenue | $289M |
| GROSS PROFIT | $173M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $107M |
| Operating Expenses | $107M |
| Cost & Expenses | $396M |
| OPERATING INCOME | $66M |
| Interest Income | $0 |
| Interest Expense | $26M |
| Other Income/Expenses | -$72M |
| INCOME BEFORE TAX | -$6M |
| Income Tax Expense | $26M |
| Net Income from Continuing Ops | -$32M |
| Net Income from Discontinued Ops | -$600.0K |
| Other Adjustments | $0 |
| NET INCOME | -$33M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$33M |
| D&A | $34M |
| EBIT | $20M |
| EBITDA | $53M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$33M |
| Depreciation & Amortization | $34M |
| Stock-Based Compensation | $2M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $45M |
| Change in Working Capital | $17M |
| OPERATING CASH FLOW | $65M |
| Capital Expenditure | -$57M |
| Acquisitions (Net) | -$636M |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $62M |
| NET CASH FROM INVESTING | -$631M |
| Net Debt Issuance | $590M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$6M |
| NET CASH FROM FINANCING | $585M |
| FREE CASH FLOW | $7M |
| Net Change in Cash | $18M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $70M |
| Short-Term Investments | $0 |
| Net Receivables | $99M |
| Inventory | $49M |
| Other Current Assets | $38M |
| TOTAL CURRENT ASSETS | $255M |
| PP&E (Net) | $1.6B |
| Goodwill | $0 |
| Intangible Assets | $1.3B |
| Long-Term Investments | $4M |
| Tax Assets | $0 |
| Other Non-Current Assets | $217M |
| TOTAL NON-CURRENT ASSETS | $3.1B |
| TOTAL ASSETS | $3.4B |
| Account Payables | $113M |
| Short-Term Debt | $31M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $219M |
| TOTAL CURRENT LIABILITIES | $364M |
| Long-Term Debt | $2.0B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $345M |
| TOTAL NON-CURRENT LIABILITIES | $2.7B |
| TOTAL LIABILITIES | $3.1B |
| Common Stock | $1M |
| Additional Paid-In Capital | $59M |
| Retained Earnings | $241M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $7M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $308M |
| Minority Interest | $0 |
| TOTAL EQUITY | $308M |
| TOTAL LIABILITIES & EQUITY | $3.4B |
| Total Debt | $2.4B |
| Net Debt | $2.3B |
