| Metric | Q2 2025 | Q1 2025 | Q2 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $182M | $162M | $112M | 12.0% | 62.5% |
| Op. Income | -$138M | $210M | $137M | -165.7% | -200.7% |
| Gross Margin | 53.0% | 43.8% | 69.3% | 9.2pp | -16.3pp |
| Net Margin | -76.4% | 152.1% | 113.4% | -228.4pp | -189.7pp |
| EPS (Diluted) | $-0.49 | $0.83 | $0.58 | -159.0% | -184.5% |
| Free Cash Flow | -$146M | -$177M | -$60M | 17.2% | -142.6% |
| Item | Amount |
|---|---|
| REVENUE | $182M |
| Cost of Revenue | $85M |
| GROSS PROFIT | $96M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $30M |
| SG&A Expenses | $30M |
| Other Expenses | $204M |
| Operating Expenses | $234M |
| Cost & Expenses | $320M |
| OPERATING INCOME | -$138M |
| Interest Income | $2M |
| Interest Expense | $1M |
| Other Income/Expenses | -$4M |
| INCOME BEFORE TAX | -$142M |
| Income Tax Expense | -$3M |
| Net Income from Continuing Ops | -$139M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$139M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$139M |
| D&A | $79M |
| EBIT | -$141M |
| EBITDA | -$62M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$139M |
| Depreciation & Amortization | $79M |
| Stock-Based Compensation | $3M |
| Deferred Income Tax | -$3M |
| Other Non-Cash Items | -$60M |
| Change in Working Capital | $8M |
| OPERATING CASH FLOW | -$112M |
| Capital Expenditure | -$34M |
| Acquisitions (Net) | $37M |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$63M |
| NET CASH FROM INVESTING | -$60M |
| Net Debt Issuance | -$2M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | -$7M |
| FREE CASH FLOW | -$146M |
| Net Change in Cash | -$180M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $97M |
| Short-Term Investments | $837M |
| Net Receivables | $0 |
| Inventory | $0 |
| Other Current Assets | $14M |
| TOTAL CURRENT ASSETS | $947M |
| PP&E (Net) | $1.4B |
| Goodwill | $132M |
| Intangible Assets | $7M |
| Long-Term Investments | $147M |
| Tax Assets | $0 |
| Other Non-Current Assets | $23M |
| TOTAL NON-CURRENT ASSETS | $1.7B |
| TOTAL ASSETS | $2.7B |
| Account Payables | $11M |
| Short-Term Debt | $5M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $5M |
| TOTAL CURRENT LIABILITIES | $109M |
| Long-Term Debt | $642M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $12M |
| Other Non-Current Liabilities | $4M |
| TOTAL NON-CURRENT LIABILITIES | $657M |
| TOTAL LIABILITIES | $767M |
| Common Stock | $293.0K |
| Additional Paid-In Capital | $2.4B |
| Retained Earnings | -$376M |
| Treasury Stock | -$145M |
| Accum. Other Comp. Income | $3M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $1.9B |
| Minority Interest | $0 |
| TOTAL EQUITY | $1.9B |
| TOTAL LIABILITIES & EQUITY | $2.7B |
| Total Debt | $647M |
| Net Debt | $550M |
