| Metric | Q2 2025 | Q1 2025 | Q2 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $495M | $307M | $364M | 61.0% | 35.9% |
| Op. Income | -$3M | $500.0K | -$39M | -720.0% | 92.1% |
| Gross Margin | 15.5% | 11.2% | 19.7% | 4.4pp | -4.2pp |
| Net Margin | -6.5% | -7.7% | -10.7% | 1.2pp | 4.2pp |
| EPS (Diluted) | $-0.77 | $-0.57 | $-0.94 | -35.1% | 18.1% |
| Free Cash Flow | $173M | -$26M | $56M | 767.6% | 207.7% |
| Item | Amount |
|---|---|
| REVENUE | $495M |
| Cost of Revenue | $418M |
| GROSS PROFIT | $77M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $30M |
| Other Expenses | $50M |
| Operating Expenses | $80M |
| Cost & Expenses | $498M |
| OPERATING INCOME | -$3M |
| Interest Income | $200.0K |
| Interest Expense | $18M |
| Other Income/Expenses | -$19M |
| INCOME BEFORE TAX | -$22M |
| Income Tax Expense | $10M |
| Net Income from Continuing Ops | -$32M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$32M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$32M |
| D&A | $27M |
| EBIT | -$4M |
| EBITDA | $22M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$32M |
| Depreciation & Amortization | $27M |
| Stock-Based Compensation | $3M |
| Deferred Income Tax | -$2M |
| Other Non-Cash Items | $48M |
| Change in Working Capital | $144M |
| OPERATING CASH FLOW | $187M |
| Capital Expenditure | -$14M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $300.0K |
| NET CASH FROM INVESTING | -$14M |
| Net Debt Issuance | -$167M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$3M |
| NET CASH FROM FINANCING | -$170M |
| FREE CASH FLOW | $173M |
| Net Change in Cash | $4M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $50M |
| Short-Term Investments | $0 |
| Net Receivables | $275M |
| Inventory | $221M |
| Other Current Assets | $21M |
| TOTAL CURRENT ASSETS | $565M |
| PP&E (Net) | $775M |
| Goodwill | $6M |
| Intangible Assets | $26M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $160M |
| TOTAL NON-CURRENT ASSETS | $967M |
| TOTAL ASSETS | $1.5B |
| Account Payables | $95M |
| Short-Term Debt | $10M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $308M |
| Long-Term Debt | $798M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $54M |
| Other Non-Current Liabilities | $136M |
| TOTAL NON-CURRENT LIABILITIES | $988M |
| TOTAL LIABILITIES | $1.3B |
| Common Stock | $400.0K |
| Additional Paid-In Capital | $427M |
| Retained Earnings | -$53M |
| Treasury Stock | -$11M |
| Accum. Other Comp. Income | -$127M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $237M |
| Minority Interest | $0 |
| TOTAL EQUITY | $237M |
| TOTAL LIABILITIES & EQUITY | $1.5B |
| Total Debt | $808M |
| Net Debt | $758M |
