Net Sales (Total Revenue)

~99.9% decline from $2,877,725 thousand in Q1 2025 to $3,116.0 thousand in Q1 2026 " " " "

The steep decline in net sales suggests a potential change in revenue recognition or reclassification of sales components in Q1 2026; this is in sharp contrast to the previous period’s robust growth driven by active customer spending and NSPAC improvements as indicated by earlier guidance factors. " "

Income from Operations

Dropped from $64,616 thousand in Q1 2025 to $76.9 thousand in Q1 2026 " "

The drastic contraction in operating income indicates either a severe disruption in operating performance or a significant increase in costs relative to revenue, diverging sharply from Q1 2025’s improvement driven by increased net sales and controlled operating expenses. " " "

Net Income

Fell from $66,897 thousand in Q1 2025 to $62.4 thousand in Q1 2026 " " " "

Net income’s robust contraction—exceeding 99%—likely reflects similar operational and accounting adjustments affecting income from operations, where previous period drivers like improved gross profit and reduced tax expenses contributed to higher profitability. " " "

Operating Cash Flow

Declined from $81,937 thousand in Q1 2025 to $86.4 thousand in Q1 2026 " "

The significant drop in operating cash flow suggests a reduction in liquidity generation due to the collapse in profitability and non-cash adjustments that had previously supported strong cash flows, highlighting a departure from the healthy performance seen in Q1 2025. " " "

Total Stockholders' Equity

Reduced from $642,916 thousand in Q1 2025 to $375.6 thousand in Q1 2026 " "

The substantial decline in total stockholders' equity is driven by aggressive repurchase activity and impacts from accumulated deficits, contrasting with prior period levels where net income growth and strategic initiatives had maintained higher equity levels. " " "