| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $185M | — | $201M | — | -7.6% |
| Op. Income | -$195M | — | -$86M | — | -125.9% |
| Gross Margin | -12.1% | — | 11.1% | — | -23.2pp |
| Net Margin | -154.0% | — | -74.2% | — | -79.8pp |
| EPS (Diluted) | $-5.58 | — | $-3.54 | — | -57.6% |
| Free Cash Flow | -$364M | — | -$714M | — | 49.0% |
| Item | Amount |
|---|---|
| REVENUE | $185M |
| Cost of Revenue | $208M |
| GROSS PROFIT | -$23M |
| R&D Expenses | $42M |
| Selling & Marketing | $0 |
| General & Administrative | $41M |
| SG&A Expenses | $41M |
| Other Expenses | $89M |
| Operating Expenses | $172M |
| Cost & Expenses | $380M |
| OPERATING INCOME | -$195M |
| Interest Income | $19M |
| Interest Expense | $85M |
| Other Income/Expenses | -$91M |
| INCOME BEFORE TAX | -$285M |
| Income Tax Expense | $100.0K |
| Net Income from Continuing Ops | -$286M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$286M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$286M |
| D&A | $54M |
| EBIT | -$200M |
| EBITDA | -$146M |
| EPS | -$6 |
| EPS Diluted | -$6 |
| Item | Amount |
|---|---|
| Net Income | -$286M |
| Depreciation & Amortization | $54M |
| Stock-Based Compensation | $19M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $139M |
| Change in Working Capital | -$68M |
| OPERATING CASH FLOW | -$142M |
| Capital Expenditure | -$222M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$71M |
| Sales/Maturities of Investments | $265M |
| Other Investing Activities | $195M |
| NET CASH FROM INVESTING | $169M |
| Net Debt Issuance | -$200.0K |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$14M |
| NET CASH FROM FINANCING | $89M |
| FREE CASH FLOW | -$364M |
| Net Change in Cash | $116M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $730M |
| Short-Term Investments | $670M |
| Net Receivables | $784M |
| Inventory | $459M |
| Other Current Assets | $146M |
| TOTAL CURRENT ASSETS | $2.9B |
| PP&E (Net) | $3.9B |
| Goodwill | $359M |
| Intangible Assets | $24M |
| Long-Term Investments | $0 |
| Tax Assets | $1M |
| Other Non-Current Assets | $408M |
| TOTAL NON-CURRENT ASSETS | $4.7B |
| TOTAL ASSETS | $7.6B |
| Account Payables | $59M |
| Short-Term Debt | $0 |
| Deferred Revenue | $45M |
| Other Current Liabilities | $180M |
| TOTAL CURRENT LIABILITIES | $619M |
| Long-Term Debt | $4.5B |
| Deferred Revenue NC | $2.0B |
| Deferred Tax Liabilities | $11M |
| Other Non-Current Liabilities | $212M |
| TOTAL NON-CURRENT LIABILITIES | $6.7B |
| TOTAL LIABILITIES | $7.4B |
| Common Stock | $200.0K |
| Additional Paid-In Capital | $4.1B |
| Retained Earnings | -$3.9B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$4M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $213M |
| Minority Interest | $0 |
| TOTAL EQUITY | $213M |
| TOTAL LIABILITIES & EQUITY | $7.6B |
| Total Debt | $4.5B |
| Net Debt | $3.8B |
