| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $2.0B | $2.0B | — | 3.4% | — |
| Op. Income | $44M | -$136M | — | 132.4% | — |
| Gross Margin | 26.9% | 59.8% | — | -32.9pp | — |
| Net Margin | -3.6% | -38.8% | — | 35.2pp | — |
| EPS (Diluted) | $-0.59 | $-6.07 | — | 90.3% | — |
| Free Cash Flow | $310M | $131M | — | 136.6% | — |
| Item | Amount |
|---|---|
| REVENUE | $2.0B |
| Cost of Revenue | $1.5B |
| GROSS PROFIT | $546M |
| R&D Expenses | $71M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $431M |
| Other Expenses | $0 |
| Operating Expenses | $502M |
| Cost & Expenses | $2.0B |
| OPERATING INCOME | $44M |
| Interest Income | $3M |
| Interest Expense | $80M |
| Other Income/Expenses | -$105M |
| INCOME BEFORE TAX | -$61M |
| Income Tax Expense | $12M |
| Net Income from Continuing Ops | -$73M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$73M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$76M |
| D&A | $107M |
| EBIT | -$229M |
| EBITDA | -$122M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$73M |
| Depreciation & Amortization | $107M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$16M |
| Change in Working Capital | $316M |
| OPERATING CASH FLOW | $334M |
| Capital Expenditure | -$24M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$4M |
| NET CASH FROM INVESTING | -$4M |
| Net Debt Issuance | -$977M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | -$6M |
| Other Financing Activities | $684M |
| NET CASH FROM FINANCING | -$299M |
| FREE CASH FLOW | $310M |
| Net Change in Cash | $30M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $512M |
| Short-Term Investments | $0 |
| Net Receivables | $1.7B |
| Inventory | $1.0B |
| Other Current Assets | $378M |
| TOTAL CURRENT ASSETS | $3.6B |
| PP&E (Net) | $299M |
| Goodwill | $2.2B |
| Intangible Assets | $921M |
| Long-Term Investments | $846M |
| Tax Assets | $81M |
| Other Non-Current Assets | $1.9B |
| TOTAL NON-CURRENT ASSETS | $6.2B |
| TOTAL ASSETS | $9.8B |
| Account Payables | $1.5B |
| Short-Term Debt | $231M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $1.5B |
| TOTAL CURRENT LIABILITIES | $3.2B |
| Long-Term Debt | $4.0B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $1.9B |
| TOTAL NON-CURRENT LIABILITIES | $5.9B |
| TOTAL LIABILITIES | $9.1B |
| Common Stock | $128M |
| Additional Paid-In Capital | $1.2B |
| Retained Earnings | $2.4B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$3.3B |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $658M |
| Minority Interest | $15M |
| TOTAL EQUITY | $673M |
| TOTAL LIABILITIES & EQUITY | $9.8B |
| Total Debt | $4.2B |
| Net Debt | $3.7B |
