| Metric | Q2 2026 | Q1 2026 | Q2 2025 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $127M | $64M | $64M | 97.1% | 98.2% |
| Op. Income | -$31M | -$19M | -$18M | -66.9% | -69.3% |
| Gross Margin | 20.6% | 13.4% | 18.0% | 7.2pp | 2.6pp |
| Net Margin | -13.8% | -26.4% | -217.2% | 12.5pp | 203.4pp |
| EPS (Diluted) | $-0.07 | $-0.07 | $-0.66 | 3.2% | 89.4% |
| Free Cash Flow | -$568M | -$331M | -$223M | -71.3% | -154.3% |
| Item | Amount |
|---|---|
| REVENUE | $127M |
| Cost of Revenue | $101M |
| GROSS PROFIT | $26M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $57M |
| Other Expenses | $0 |
| Operating Expenses | $57M |
| Cost & Expenses | $158M |
| OPERATING INCOME | -$31M |
| Interest Income | $0 |
| Interest Expense | $11M |
| Other Income/Expenses | $4M |
| INCOME BEFORE TAX | -$27M |
| Income Tax Expense | $15.0K |
| Net Income from Continuing Ops | -$27M |
| Net Income from Discontinued Ops | $12M |
| Other Adjustments | $0 |
| NET INCOME | -$18M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$19M |
| D&A | $9M |
| EBIT | -$15M |
| EBITDA | -$6M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$18M |
| Depreciation & Amortization | $9M |
| Stock-Based Compensation | $29M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$45.0K |
| Change in Working Capital | -$36M |
| OPERATING CASH FLOW | -$16M |
| Capital Expenditure | -$552M |
| Acquisitions (Net) | $501M |
| Purchases of Investments | -$17M |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$68M |
| Net Debt Issuance | $1.9B |
| Common Stock Repurchased | -$500.0K |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$11M |
| NET CASH FROM FINANCING | $2.3B |
| FREE CASH FLOW | -$568M |
| Net Change in Cash | $2.0B |
| Item | Amount |
|---|---|
| Cash & Equivalents | $1.9B |
| Short-Term Investments | $0 |
| Net Receivables | $17M |
| Inventory | $0 |
| Other Current Assets | $525M |
| TOTAL CURRENT ASSETS | $2.7B |
| PP&E (Net) | $2.0B |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $39M |
| Tax Assets | $0 |
| Other Non-Current Assets | $456M |
| TOTAL NON-CURRENT ASSETS | $2.5B |
| TOTAL ASSETS | $5.2B |
| Account Payables | $93M |
| Short-Term Debt | $13M |
| Deferred Revenue | $46M |
| Other Current Liabilities | $200M |
| TOTAL CURRENT LIABILITIES | $563M |
| Long-Term Debt | $2.6B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $105M |
| TOTAL NON-CURRENT LIABILITIES | $2.7B |
| TOTAL LIABILITIES | $3.3B |
| Common Stock | $287.0K |
| Additional Paid-In Capital | $2.0B |
| Retained Earnings | -$512M |
| Treasury Stock | -$53M |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $1.4B |
| Minority Interest | $517M |
| TOTAL EQUITY | $2.0B |
| TOTAL LIABILITIES & EQUITY | $5.2B |
| Total Debt | $2.6B |
| Net Debt | $695M |
