0001792044-26-000029
SEC filingRevenue grew 8.1% to $3.5B, but GAAP profitability remained negative due to restructuring and fire-related charges.
Gross profit was $1.2 billion, relatively flat compared to the prior year, resulting in a gross margin of 32.9%. The changes in gross profit and gross margins are primarily related to the increase in cost of sales. The company experienced pressure from fire-related charges and higher restructuring costs, which contributed to the slight decline in gross margin from the prior year.