| Metric | Q2 2025 | Q1 2025 | Q2 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $101M | $115M | $185M | -11.7% | -45.2% |
| Op. Income | $21M | $16M | $24M | 29.1% | -15.7% |
| Gross Margin | 4.4% | 1.2% | 4.7% | 3.2pp | -0.4pp |
| Net Margin | 5.9% | -2.4% | 1.7% | 8.3pp | 4.2pp |
| EPS (Diluted) | $0.04 | $-0.07 | $0.05 | 153.7% | -20.7% |
| Free Cash Flow | -$854.0K | -$16M | $18M | 94.8% | -104.9% |
| Item | Amount |
|---|---|
| REVENUE | $101M |
| Cost of Revenue | $97M |
| GROSS PROFIT | $4M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $6M |
| SG&A Expenses | $6M |
| Other Expenses | -$22M |
| Operating Expenses | -$16M |
| Cost & Expenses | $81M |
| OPERATING INCOME | $21M |
| Interest Income | $4M |
| Interest Expense | $21M |
| Other Income/Expenses | -$14M |
| INCOME BEFORE TAX | $6M |
| Income Tax Expense | -$567.0K |
| Net Income from Continuing Ops | $7M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $6M |
| Net Income Deductions | -$3M |
| BOTTOM LINE NET INCOME | $6M |
| D&A | $22M |
| EBIT | $27M |
| EBITDA | $49M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $101M |
| Cost of Revenue | $97M |
| GROSS PROFIT | $4M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $6M |
| SG&A Expenses | $6M |
| Other Expenses | -$22M |
| Operating Expenses | -$16M |
| Cost & Expenses | $81M |
| OPERATING INCOME | $21M |
| Interest Income | $4M |
| Interest Expense | $21M |
| Other Income/Expenses | -$14M |
| INCOME BEFORE TAX | $6M |
| Income Tax Expense | -$567.0K |
| Net Income from Continuing Ops | $7M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $6M |
| Net Income Deductions | -$3M |
| BOTTOM LINE NET INCOME | $6M |
| D&A | $22M |
| EBIT | $27M |
| EBITDA | $49M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $6M |
| Depreciation & Amortization | $22M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$8M |
| Change in Working Capital | -$9M |
| OPERATING CASH FLOW | $11M |
| Capital Expenditure | -$12M |
| Acquisitions (Net) | -$4M |
| Purchases of Investments | -$10M |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $4M |
| NET CASH FROM INVESTING | -$22M |
| Net Debt Issuance | $38M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$5M |
| NET CASH FROM FINANCING | $17M |
| FREE CASH FLOW | -$854.0K |
| Net Change in Cash | $6M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $55M |
| Short-Term Investments | $0 |
| Net Receivables | $244M |
| Inventory | $0 |
| Other Current Assets | -$50M |
| TOTAL CURRENT ASSETS | $248M |
| PP&E (Net) | $111M |
| Goodwill | $0 |
| Intangible Assets | $83M |
| Long-Term Investments | $2.0B |
| Tax Assets | $0 |
| Other Non-Current Assets | $100M |
| TOTAL NON-CURRENT ASSETS | $2.3B |
| TOTAL ASSETS | $2.6B |
| Account Payables | $93M |
| Short-Term Debt | $34M |
| Deferred Revenue | $0 |
| Other Current Liabilities | -$93M |
| TOTAL CURRENT LIABILITIES | $34M |
| Long-Term Debt | $1.4B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $20M |
| TOTAL NON-CURRENT LIABILITIES | $1.7B |
| TOTAL LIABILITIES | $1.7B |
| Common Stock | $804.0K |
| Additional Paid-In Capital | $723M |
| Retained Earnings | -$244M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $1M |
| TOTAL STOCKHOLDERS' EQUITY | $652M |
| Minority Interest | $209M |
| TOTAL EQUITY | $861M |
| TOTAL LIABILITIES & EQUITY | $2.6B |
| Total Debt | $1.7B |
| Net Debt | $1.6B |
