| Metric | Q3 2025 | Q2 2025 | Q3 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $2.0B | $1.6B | $1.5B | 24.4% | 28.3% |
| Op. Income | -$136M | $30M | $70M | -553.3% | -294.3% |
| Gross Margin | 59.8% | 28.0% | 32.4% | 31.8pp | 27.4pp |
| Net Margin | -38.8% | -6.7% | -78.9% | -32.0pp | 40.1pp |
| EPS (Diluted) | $-6.07 | $-0.87 | $-9.72 | -597.7% | 37.6% |
| Free Cash Flow | $131M | -$30M | $107M | 536.7% | 22.4% |
| Item | Amount |
|---|---|
| REVENUE | $2.0B |
| Cost of Revenue | $788M |
| GROSS PROFIT | $1.2B |
| R&D Expenses | $74M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $477M |
| Other Expenses | $758M |
| Operating Expenses | $1.3B |
| Cost & Expenses | $2.1B |
| OPERATING INCOME | -$136M |
| Interest Income | $3M |
| Interest Expense | $80M |
| Other Income/Expenses | -$164M |
| INCOME BEFORE TAX | -$300M |
| Income Tax Expense | $460M |
| Net Income from Continuing Ops | -$760M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$760M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$764M |
| D&A | $107M |
| EBIT | -$220M |
| EBITDA | -$113M |
| EPS | -$6 |
| EPS Diluted | -$6 |
| Item | Amount |
|---|---|
| Net Income | -$760M |
| Depreciation & Amortization | $107M |
| Stock-Based Compensation | $7M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $135M |
| Change in Working Capital | $670M |
| OPERATING CASH FLOW | $159M |
| Capital Expenditure | -$28M |
| Acquisitions (Net) | -$718M |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$7M |
| NET CASH FROM INVESTING | -$725M |
| Net Debt Issuance | $124M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | -$7M |
| Other Financing Activities | $1M |
| NET CASH FROM FINANCING | $118M |
| FREE CASH FLOW | $131M |
| Net Change in Cash | -$450M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $479M |
| Short-Term Investments | $0 |
| Net Receivables | $1.8B |
| Inventory | $1.1B |
| Other Current Assets | $329M |
| TOTAL CURRENT ASSETS | $3.8B |
| PP&E (Net) | $727M |
| Goodwill | $2.2B |
| Intangible Assets | $954M |
| Long-Term Investments | $976M |
| Tax Assets | $101M |
| Other Non-Current Assets | $1.4B |
| TOTAL NON-CURRENT ASSETS | $6.3B |
| TOTAL ASSETS | $10.1B |
| Account Payables | $1.5B |
| Short-Term Debt | $354M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $247M |
| TOTAL CURRENT LIABILITIES | $3.4B |
| Long-Term Debt | $4.1B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $2.0B |
| TOTAL NON-CURRENT LIABILITIES | $6.1B |
| TOTAL LIABILITIES | $9.5B |
| Common Stock | $128M |
| Additional Paid-In Capital | $1.2B |
| Retained Earnings | $2.5B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$3.5B |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $579M |
| Minority Interest | $15M |
| TOTAL EQUITY | $594M |
| TOTAL LIABILITIES & EQUITY | $10.1B |
| Total Debt | $4.4B |
| Net Debt | $3.9B |
