| Metric | Q2 2025 | Q1 2025 | Q2 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $591M | $334M | $343M | 77.0% | 72.0% |
| Op. Income | $17M | $62M | $37M | -71.6% | -52.2% |
| Gross Margin | 50.1% | 58.3% | 54.0% | -8.2pp | -3.9pp |
| Net Margin | 3.4% | 14.9% | 7.3% | -11.6pp | -4.0pp |
| EPS (Diluted) | $0.19 | $0.52 | $0.25 | -63.5% | -24.0% |
| Free Cash Flow | $1.9B | $60M | $85M | 3095.9% | 2150.9% |
| Item | Amount |
|---|---|
| REVENUE | $591M |
| Cost of Revenue | $295M |
| GROSS PROFIT | $296M |
| R&D Expenses | $0 |
| Selling & Marketing | $4M |
| General & Administrative | $119M |
| SG&A Expenses | $122M |
| Other Expenses | $156M |
| Operating Expenses | $278M |
| Cost & Expenses | $573M |
| OPERATING INCOME | $17M |
| Interest Income | $510M |
| Interest Expense | $189M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $17M |
| Income Tax Expense | -$2M |
| Net Income from Continuing Ops | $20M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $20M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $17M |
| D&A | $12M |
| EBIT | $17M |
| EBITDA | $30M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $591M |
| Cost of Revenue | $295M |
| GROSS PROFIT | $296M |
| R&D Expenses | $0 |
| Selling & Marketing | $4M |
| General & Administrative | $119M |
| SG&A Expenses | $122M |
| Other Expenses | $156M |
| Operating Expenses | $278M |
| Cost & Expenses | $573M |
| OPERATING INCOME | $17M |
| Interest Income | $510M |
| Interest Expense | $189M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $17M |
| Income Tax Expense | -$2M |
| Net Income from Continuing Ops | $20M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $20M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $17M |
| D&A | $12M |
| EBIT | $17M |
| EBITDA | $30M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $20M |
| Depreciation & Amortization | $12M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $1.9B |
| Change in Working Capital | -$31M |
| OPERATING CASH FLOW | $1.9B |
| Capital Expenditure | $2M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$768M |
| Sales/Maturities of Investments | $763M |
| Other Investing Activities | $80M |
| NET CASH FROM INVESTING | $78M |
| Net Debt Issuance | -$402M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | -$51M |
| Other Financing Activities | -$759M |
| NET CASH FROM FINANCING | -$827M |
| FREE CASH FLOW | $1.9B |
| Net Change in Cash | $1.2B |
| Item | Amount |
|---|---|
| Cash & Equivalents | $1.6B |
| Short-Term Investments | $103M |
| Net Receivables | $0 |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $1.7B |
| PP&E (Net) | $165M |
| Goodwill | $1.7B |
| Intangible Assets | $351M |
| Long-Term Investments | $31.6B |
| Tax Assets | $0 |
| Other Non-Current Assets | $1.8B |
| TOTAL NON-CURRENT ASSETS | $35.6B |
| TOTAL ASSETS | $37.3B |
| Account Payables | $0 |
| Short-Term Debt | $127M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $31.0B |
| TOTAL CURRENT LIABILITIES | $31.1B |
| Long-Term Debt | $765M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $592M |
| TOTAL NON-CURRENT LIABILITIES | $1.4B |
| TOTAL LIABILITIES | $32.5B |
| Common Stock | $188M |
| Additional Paid-In Capital | $3.9B |
| Retained Earnings | $1.1B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$321M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $4.8B |
| Minority Interest | $0 |
| TOTAL EQUITY | $4.8B |
| TOTAL LIABILITIES & EQUITY | $37.3B |
| Total Debt | $893M |
| Net Debt | -$692M |
