| Metric | Q2 2025 | Q1 2025 | Q2 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $683M | $838M | $420M | -18.4% | 62.7% |
| Op. Income | $60M | $200M | $32M | -69.9% | 90.8% |
| Gross Margin | 12.9% | 27.2% | 12.8% | -14.4pp | 0.1pp |
| Net Margin | 6.1% | 14.7% | 4.7% | -8.5pp | 1.4pp |
| EPS (Diluted) | $0.66 | $1.91 | $0.39 | -65.4% | 69.2% |
| Free Cash Flow | $105M | -$93M | $86M | 212.6% | 21.9% |
| Item | Amount |
|---|---|
| REVENUE | $683M |
| Cost of Revenue | $596M |
| GROSS PROFIT | $88M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $28M |
| SG&A Expenses | $28M |
| Other Expenses | $0 |
| Operating Expenses | $28M |
| Cost & Expenses | $623M |
| OPERATING INCOME | $60M |
| Interest Income | $0 |
| Interest Expense | $28M |
| Other Income/Expenses | -$2M |
| INCOME BEFORE TAX | $58M |
| Income Tax Expense | $16M |
| Net Income from Continuing Ops | $42M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $42M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $42M |
| D&A | $25M |
| EBIT | $86M |
| EBITDA | $111M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| REVENUE | $683M |
| Cost of Revenue | $596M |
| GROSS PROFIT | $88M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $28M |
| SG&A Expenses | $28M |
| Other Expenses | $0 |
| Operating Expenses | $28M |
| Cost & Expenses | $623M |
| OPERATING INCOME | $60M |
| Interest Income | $0 |
| Interest Expense | $28M |
| Other Income/Expenses | -$2M |
| INCOME BEFORE TAX | $58M |
| Income Tax Expense | $16M |
| Net Income from Continuing Ops | $42M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $42M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $42M |
| D&A | $25M |
| EBIT | $86M |
| EBITDA | $111M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $42M |
| Depreciation & Amortization | $25M |
| Stock-Based Compensation | $7M |
| Deferred Income Tax | $13M |
| Other Non-Cash Items | $4M |
| Change in Working Capital | $23M |
| OPERATING CASH FLOW | $113M |
| Capital Expenditure | -$8M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$11M |
| Sales/Maturities of Investments | $13M |
| Other Investing Activities | -$2M |
| NET CASH FROM INVESTING | -$7M |
| Net Debt Issuance | $25M |
| Common Stock Repurchased | -$72M |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$42M |
| NET CASH FROM FINANCING | -$89M |
| FREE CASH FLOW | $105M |
| Net Change in Cash | $17M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $40M |
| Short-Term Investments | $0 |
| Net Receivables | $676M |
| Inventory | $0 |
| Other Current Assets | $250M |
| TOTAL CURRENT ASSETS | $966M |
| PP&E (Net) | $456M |
| Goodwill | $0 |
| Intangible Assets | $2.9B |
| Long-Term Investments | $1M |
| Tax Assets | $0 |
| Other Non-Current Assets | $215M |
| TOTAL NON-CURRENT ASSETS | $3.6B |
| TOTAL ASSETS | $4.5B |
| Account Payables | $119M |
| Short-Term Debt | $66M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $224M |
| TOTAL CURRENT LIABILITIES | $602M |
| Long-Term Debt | $1.5B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $13M |
| Other Non-Current Liabilities | $197M |
| TOTAL NON-CURRENT LIABILITIES | $2.0B |
| TOTAL LIABILITIES | $2.6B |
| Common Stock | $1M |
| Additional Paid-In Capital | $1.8B |
| Retained Earnings | $1.1B |
| Treasury Stock | -$990M |
| Accum. Other Comp. Income | -$2M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $1.9B |
| Minority Interest | $0 |
| TOTAL EQUITY | $1.9B |
| TOTAL LIABILITIES & EQUITY | $4.5B |
| Total Debt | $2.0B |
| Net Debt | $1.9B |
