| Metric | Q2 2025 | Q1 2025 | Q2 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $774M | $594M | $660M | 30.2% | 17.3% |
| Op. Income | -$16M | $18M | $49M | -189.6% | -133.3% |
| Gross Margin | 81.5% | 88.0% | 89.6% | -6.5pp | -8.1pp |
| Net Margin | -8.6% | -9.7% | -2.6% | 1.1pp | -6.0pp |
| EPS (Diluted) | $-0.51 | $-0.44 | $-0.13 | -15.9% | -292.3% |
| Free Cash Flow | $139M | -$127M | $116M | 209.5% | 20.1% |
| Item | Amount |
|---|---|
| REVENUE | $774M |
| Cost of Revenue | $143M |
| GROSS PROFIT | $631M |
| R&D Expenses | $324M |
| Selling & Marketing | $0 |
| General & Administrative | $323M |
| SG&A Expenses | $323M |
| Other Expenses | $0 |
| Operating Expenses | $647M |
| Cost & Expenses | $790M |
| OPERATING INCOME | -$16M |
| Interest Income | $27M |
| Interest Expense | $40M |
| Other Income/Expenses | -$19M |
| INCOME BEFORE TAX | -$35M |
| Income Tax Expense | $31M |
| Net Income from Continuing Ops | -$66M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$66M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$66M |
| D&A | $14M |
| EBIT | $5M |
| EBITDA | $19M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$66M |
| Depreciation & Amortization | $14M |
| Stock-Based Compensation | $112M |
| Deferred Income Tax | $10M |
| Other Non-Cash Items | $35M |
| Change in Working Capital | $50M |
| OPERATING CASH FLOW | $154M |
| Capital Expenditure | -$14M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$469M |
| Sales/Maturities of Investments | $332M |
| Other Investing Activities | $9M |
| NET CASH FROM INVESTING | -$141M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$27M |
| NET CASH FROM FINANCING | $54M |
| FREE CASH FLOW | $139M |
| Net Change in Cash | $94M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $1.1B |
| Short-Term Investments | $1.7B |
| Net Receivables | $567M |
| Inventory | $72M |
| Other Current Assets | $147M |
| TOTAL CURRENT ASSETS | $3.6B |
| PP&E (Net) | $692M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $104M |
| Other Non-Current Assets | $126M |
| TOTAL NON-CURRENT ASSETS | $922M |
| TOTAL ASSETS | $4.6B |
| Account Payables | $102M |
| Short-Term Debt | $98M |
| Deferred Revenue | $15M |
| Other Current Liabilities | $121M |
| TOTAL CURRENT LIABILITIES | $1.3B |
| Long-Term Debt | $2.4B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $418M |
| TOTAL NON-CURRENT LIABILITIES | $3.0B |
| TOTAL LIABILITIES | $4.3B |
| Common Stock | $1M |
| Additional Paid-In Capital | $7.7B |
| Retained Earnings | -$7.4B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$30M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $251M |
| Minority Interest | $0 |
| TOTAL EQUITY | $251M |
| TOTAL LIABILITIES & EQUITY | $4.6B |
| Total Debt | $2.7B |
| Net Debt | $1.6B |
