| Metric | Q2 2025 | Q1 2025 | Q2 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $44M | $49M | $37M | -11.0% | 18.4% |
| Op. Income | -$45M | -$38M | -$16M | -18.8% | -179.8% |
| Gross Margin | 28.9% | 40.4% | 17.0% | -11.5pp | 11.9pp |
| Net Margin | -105.1% | -79.6% | -41.5% | -25.5pp | -63.5pp |
| EPS (Diluted) | $-0.12 | $-0.11 | $-0.05 | -9.1% | -146.9% |
| Free Cash Flow | -$88M | -$147M | -$65M | 40.6% | -34.8% |
| Item | Amount |
|---|---|
| REVENUE | $44M |
| Cost of Revenue | $31M |
| GROSS PROFIT | $13M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $9M |
| SG&A Expenses | $9M |
| Other Expenses | $49M |
| Operating Expenses | $58M |
| Cost & Expenses | $89M |
| OPERATING INCOME | -$45M |
| Interest Income | $296.0K |
| Interest Expense | $1M |
| Other Income/Expenses | $379.0K |
| INCOME BEFORE TAX | -$45M |
| Income Tax Expense | $917.0K |
| Net Income from Continuing Ops | -$46M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$46M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$46M |
| D&A | $44M |
| EBIT | -$44M |
| EBITDA | $757.0K |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$46M |
| Depreciation & Amortization | $44M |
| Stock-Based Compensation | $10M |
| Deferred Income Tax | -$1M |
| Other Non-Cash Items | -$45M |
| Change in Working Capital | -$19M |
| OPERATING CASH FLOW | -$56M |
| Capital Expenditure | -$31M |
| Acquisitions (Net) | -$6M |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $31M |
| Other Investing Activities | -$383.0K |
| NET CASH FROM INVESTING | -$93M |
| Net Debt Issuance | $141M |
| Common Stock Repurchased | -$4M |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $189M |
| FREE CASH FLOW | -$88M |
| Net Change in Cash | $40M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $63M |
| Short-Term Investments | $0 |
| Net Receivables | $2M |
| Inventory | $112M |
| Other Current Assets | $43M |
| TOTAL CURRENT ASSETS | $220M |
| PP&E (Net) | $669M |
| Goodwill | $0 |
| Intangible Assets | $9M |
| Long-Term Investments | $46M |
| Tax Assets | $0 |
| Other Non-Current Assets | $75M |
| TOTAL NON-CURRENT ASSETS | $799M |
| TOTAL ASSETS | $1.0B |
| Account Payables | $15M |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $5M |
| TOTAL CURRENT LIABILITIES | $53M |
| Long-Term Debt | $167M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $3M |
| Other Non-Current Liabilities | $32M |
| TOTAL NON-CURRENT LIABILITIES | $217M |
| TOTAL LIABILITIES | $270M |
| Common Stock | $388.0K |
| Additional Paid-In Capital | $1.0B |
| Retained Earnings | -$266M |
| Treasury Stock | -$2.0K |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $749M |
| Minority Interest | $0 |
| TOTAL EQUITY | $749M |
| TOTAL LIABILITIES & EQUITY | $1.0B |
| Total Debt | $189M |
| Net Debt | $127M |
