| Metric | Q2 2025 | Q1 2025 | Q2 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $64M | $61M | $42M | 5.2% | 51.3% |
| Op. Income | -$18M | -$15M | -$8M | -24.4% | -125.9% |
| Gross Margin | 18.0% | -0.6% | 30.8% | 18.6pp | -12.7pp |
| Net Margin | -217.2% | -7.0% | -24.9% | -210.2pp | -192.3pp |
| EPS (Diluted) | $-0.66 | $-0.03 | $-0.10 | -2191.7% | -587.5% |
| Free Cash Flow | -$223M | -$131M | -$9M | -70.9% | -2466.8% |
| Item | Amount |
|---|---|
| REVENUE | $64M |
| Cost of Revenue | $52M |
| GROSS PROFIT | $12M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $30M |
| Other Expenses | $0 |
| Operating Expenses | $30M |
| Cost & Expenses | $82M |
| OPERATING INCOME | -$18M |
| Interest Income | $0 |
| Interest Expense | $7M |
| Other Income/Expenses | -$120M |
| INCOME BEFORE TAX | -$139M |
| Income Tax Expense | $1.0K |
| Net Income from Continuing Ops | -$139M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$139M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$139M |
| D&A | $26M |
| EBIT | -$131M |
| EBITDA | -$105M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$139M |
| Depreciation & Amortization | $26M |
| Stock-Based Compensation | $3M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $120M |
| Change in Working Capital | -$64M |
| OPERATING CASH FLOW | -$52M |
| Capital Expenditure | -$171M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$1M |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$2M |
| NET CASH FROM INVESTING | -$175M |
| Net Debt Issuance | $468M |
| Common Stock Repurchased | -$31M |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$148M |
| NET CASH FROM FINANCING | $455M |
| FREE CASH FLOW | -$223M |
| Net Change in Cash | $228M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $286M |
| Short-Term Investments | $0 |
| Net Receivables | $12M |
| Inventory | $0 |
| Other Current Assets | $30M |
| TOTAL CURRENT ASSETS | $328M |
| PP&E (Net) | $1.2B |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $40M |
| TOTAL NON-CURRENT ASSETS | $1.2B |
| TOTAL ASSETS | $1.5B |
| Account Payables | $192M |
| Short-Term Debt | $11M |
| Deferred Revenue | $22M |
| Other Current Liabilities | $96.0K |
| TOTAL CURRENT LIABILITIES | $424M |
| Long-Term Debt | $468M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $56M |
| TOTAL NON-CURRENT LIABILITIES | $684M |
| TOTAL LIABILITIES | $1.1B |
| Common Stock | $222.0K |
| Additional Paid-In Capital | $859M |
| Retained Earnings | -$393M |
| Treasury Stock | -$31M |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $435M |
| Minority Interest | $0 |
| TOTAL EQUITY | $435M |
| TOTAL LIABILITIES & EQUITY | $1.5B |
| Total Debt | $799M |
| Net Debt | $513M |
