| Metric | Q2 2025 | Q1 2025 | Q2 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $1.0B | $994M | $1.1B | 3.3% | -9.4% |
| Op. Income | -$101M | -$49M | $6M | -107.4% | -1729.0% |
| Gross Margin | -4.2% | -8.2% | 5.6% | 3.9pp | -9.9pp |
| Net Margin | -14.4% | -16.3% | -3.4% | 1.9pp | -11.0pp |
| EPS (Diluted) | $-1.70 | $-1.87 | $-0.48 | 9.1% | -254.2% |
| Free Cash Flow | -$11M | -$128M | $52M | 91.4% | -121.4% |
| Item | Amount |
|---|---|
| REVENUE | $1.0B |
| Cost of Revenue | $1.1B |
| GROSS PROFIT | -$44M |
| R&D Expenses | $0 |
| Selling & Marketing | $12M |
| General & Administrative | $41M |
| SG&A Expenses | $53M |
| Other Expenses | $4M |
| Operating Expenses | $57M |
| Cost & Expenses | $1.1B |
| OPERATING INCOME | -$101M |
| Interest Income | $0 |
| Interest Expense | $53M |
| Other Income/Expenses | -$47M |
| INCOME BEFORE TAX | -$148M |
| Income Tax Expense | $200.0K |
| Net Income from Continuing Ops | -$148M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$148M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$148M |
| D&A | $48M |
| EBIT | -$95M |
| EBITDA | -$47M |
| EPS | -$2 |
| EPS Diluted | -$2 |
| Item | Amount |
|---|---|
| Net Income | -$148M |
| Depreciation & Amortization | $38M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $116M |
| Change in Working Capital | -$4M |
| OPERATING CASH FLOW | $3M |
| Capital Expenditure | -$14M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$14M |
| Net Debt Issuance | $373M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$375M |
| NET CASH FROM FINANCING | -$2M |
| FREE CASH FLOW | -$11M |
| Net Change in Cash | -$13M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $111M |
| Short-Term Investments | $0 |
| Net Receivables | $306M |
| Inventory | $371M |
| Other Current Assets | $109M |
| TOTAL CURRENT ASSETS | $896M |
| PP&E (Net) | $1.4B |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $493M |
| TOTAL NON-CURRENT ASSETS | $1.9B |
| TOTAL ASSETS | $2.8B |
| Account Payables | $279M |
| Short-Term Debt | $232M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $498M |
| TOTAL CURRENT LIABILITIES | $1.2B |
| Long-Term Debt | $2.1B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $89M |
| TOTAL NON-CURRENT LIABILITIES | $2.4B |
| TOTAL LIABILITIES | $3.5B |
| Common Stock | $900.0K |
| Additional Paid-In Capital | $838M |
| Retained Earnings | -$1.8B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$7M |
| Other Equity | $8M |
| TOTAL STOCKHOLDERS' EQUITY | -$1.0B |
| Minority Interest | $246M |
| TOTAL EQUITY | -$764M |
| TOTAL LIABILITIES & EQUITY | $2.8B |
| Total Debt | $2.6B |
| Net Debt | $2.5B |
