| Metric | Q2 2025 | Q1 2025 | Q2 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $3.6B | $3.9B | $3.8B | -8.2% | -6.4% |
| Op. Income | -$193M | $20M | -$32M | -1067.7% | -506.3% |
| Gross Margin | 2.0% | 6.7% | 7.3% | -4.7pp | -5.3pp |
| Net Margin | -1.5% | 3.6% | -19.6% | -5.1pp | 18.1pp |
| EPS (Diluted) | $-0.13 | $0.35 | $-1.89 | -137.5% | 93.0% |
| Free Cash Flow | -$188M | -$601M | $86M | 68.7% | -319.5% |
| Item | Amount |
|---|---|
| REVENUE | $3.6B |
| Cost of Revenue | $3.5B |
| GROSS PROFIT | $73M |
| R&D Expenses | $22M |
| Selling & Marketing | $104M |
| General & Administrative | $141M |
| SG&A Expenses | $244M |
| Other Expenses | $0 |
| Operating Expenses | $266M |
| Cost & Expenses | $3.8B |
| OPERATING INCOME | -$193M |
| Interest Income | $56M |
| Interest Expense | $333M |
| Other Income/Expenses | $86M |
| INCOME BEFORE TAX | -$107M |
| Income Tax Expense | -$28M |
| Net Income from Continuing Ops | -$79M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$54M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$54M |
| D&A | $249M |
| EBIT | $226M |
| EBITDA | $476M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$54M |
| Depreciation & Amortization | $268M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$329M |
| Change in Working Capital | $57M |
| OPERATING CASH FLOW | -$57M |
| Capital Expenditure | -$131M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$10M |
| NET CASH FROM INVESTING | -$140M |
| Net Debt Issuance | -$204M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$5M |
| NET CASH FROM FINANCING | -$209M |
| FREE CASH FLOW | -$188M |
| Net Change in Cash | -$430M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $1.9B |
| Short-Term Investments | $226M |
| Net Receivables | $1.3B |
| Inventory | $2.7B |
| Other Current Assets | $49M |
| TOTAL CURRENT ASSETS | $6.2B |
| PP&E (Net) | $8.5B |
| Goodwill | $431M |
| Intangible Assets | $215M |
| Long-Term Investments | $105M |
| Tax Assets | $2.3B |
| Other Non-Current Assets | $651M |
| TOTAL NON-CURRENT ASSETS | $12.2B |
| TOTAL ASSETS | $18.4B |
| Account Payables | $3.2B |
| Short-Term Debt | $564M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $524M |
| TOTAL CURRENT LIABILITIES | $5.1B |
| Long-Term Debt | $11.8B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $213M |
| Other Non-Current Liabilities | $1.3B |
| TOTAL NON-CURRENT LIABILITIES | $13.9B |
| TOTAL LIABILITIES | $19.1B |
| Common Stock | $1.6B |
| Additional Paid-In Capital | -$98M |
| Retained Earnings | -$2.7B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $451M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | -$767M |
| Minority Interest | $110M |
| TOTAL EQUITY | -$656M |
| TOTAL LIABILITIES & EQUITY | $18.4B |
| Total Debt | $13.2B |
| Net Debt | $11.3B |
