| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $382M | $411M | $437M | -7.1% | -12.5% |
| Op. Income | $23M | $34M | $45M | -32.6% | -49.7% |
| Gross Margin | 14.4% | 13.1% | 15.4% | 1.3pp | -1.0pp |
| Net Margin | 1.5% | 3.4% | 5.3% | -1.9pp | -3.8pp |
| EPS (Diluted) | $0.05 | $0.12 | $0.20 | -58.3% | -75.0% |
| Free Cash Flow | $23M | $39M | $53M | -40.5% | -56.2% |
| Item | Amount |
|---|---|
| REVENUE | $382M |
| Cost of Revenue | $327M |
| GROSS PROFIT | $55M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $19M |
| SG&A Expenses | $19M |
| Other Expenses | $13M |
| Operating Expenses | $33M |
| Cost & Expenses | $360M |
| OPERATING INCOME | $23M |
| Interest Income | $0 |
| Interest Expense | $2M |
| Other Income/Expenses | -$9M |
| INCOME BEFORE TAX | $13M |
| Income Tax Expense | $8M |
| Net Income from Continuing Ops | $6M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $6M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $6M |
| D&A | $54M |
| EBIT | $16M |
| EBITDA | $70M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $382M |
| Cost of Revenue | $327M |
| GROSS PROFIT | $55M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $19M |
| SG&A Expenses | $19M |
| Other Expenses | $13M |
| Operating Expenses | $33M |
| Cost & Expenses | $360M |
| OPERATING INCOME | $23M |
| Interest Income | $0 |
| Interest Expense | $2M |
| Other Income/Expenses | -$9M |
| INCOME BEFORE TAX | $13M |
| Income Tax Expense | $8M |
| Net Income from Continuing Ops | $6M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $6M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $6M |
| D&A | $54M |
| EBIT | $16M |
| EBITDA | $70M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $6M |
| Depreciation & Amortization | $54M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | -$2M |
| Other Non-Cash Items | $3M |
| Change in Working Capital | -$3M |
| OPERATING CASH FLOW | $57M |
| Capital Expenditure | -$34M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$34M |
| Net Debt Issuance | -$22M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$3M |
| NET CASH FROM FINANCING | -$25M |
| FREE CASH FLOW | $23M |
| Net Change in Cash | -$1M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $197M |
| Short-Term Investments | $0 |
| Net Receivables | $509M |
| Inventory | $168M |
| Other Current Assets | $86M |
| TOTAL CURRENT ASSETS | $960M |
| PP&E (Net) | $596M |
| Goodwill | $349M |
| Intangible Assets | $251M |
| Long-Term Investments | $86M |
| Tax Assets | $89M |
| Other Non-Current Assets | $17M |
| TOTAL NON-CURRENT ASSETS | $1.4B |
| TOTAL ASSETS | $2.3B |
| Account Payables | $101M |
| Short-Term Debt | $21M |
| Deferred Revenue | $16M |
| Other Current Liabilities | $210M |
| TOTAL CURRENT LIABILITIES | $444M |
| Long-Term Debt | $135M |
| Deferred Revenue NC | $1M |
| Deferred Tax Liabilities | $108M |
| Other Non-Current Liabilities | $57M |
| TOTAL NON-CURRENT LIABILITIES | $371M |
| TOTAL LIABILITIES | $814M |
| Common Stock | $9M |
| Additional Paid-In Capital | $2.1B |
| Retained Earnings | -$476M |
| Treasury Stock | -$127M |
| Accum. Other Comp. Income | $18M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $1.5B |
| Minority Interest | $0 |
| TOTAL EQUITY | $1.5B |
| TOTAL LIABILITIES & EQUITY | $2.3B |
| Total Debt | $225M |
| Net Debt | $27M |
