| Metric | Q2 2025 | Q1 2025 | Q2 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $738M | — | $349M | — | 111.7% |
| Op. Income | $133M | — | $2M | — | 5471.5% |
| Gross Margin | 58.6% | — | 49.5% | — | 9.1pp |
| Net Margin | -4.7% | — | 4.3% | — | -9.0pp |
| EPS (Diluted) | $-0.50 | — | $0.32 | — | -256.3% |
| Free Cash Flow | $125M | — | -$37M | — | 440.3% |
| Item | Amount |
|---|---|
| REVENUE | $738M |
| Cost of Revenue | $306M |
| GROSS PROFIT | $432M |
| R&D Expenses | $0 |
| Selling & Marketing | $47M |
| General & Administrative | $4M |
| SG&A Expenses | $51M |
| Other Expenses | $248M |
| Operating Expenses | $299M |
| Cost & Expenses | $605M |
| OPERATING INCOME | $133M |
| Interest Income | $0 |
| Interest Expense | $104M |
| Other Income/Expenses | -$161M |
| INCOME BEFORE TAX | -$27M |
| Income Tax Expense | $6M |
| Net Income from Continuing Ops | -$34M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$34M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$34M |
| D&A | $188M |
| EBIT | $77M |
| EBITDA | $266M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$34M |
| Depreciation & Amortization | $192M |
| Stock-Based Compensation | $4M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$22M |
| Change in Working Capital | $43M |
| OPERATING CASH FLOW | $264M |
| Capital Expenditure | -$139M |
| Acquisitions (Net) | -$193M |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $58M |
| NET CASH FROM INVESTING | -$274M |
| Net Debt Issuance | $263M |
| Common Stock Repurchased | -$36M |
| Common Dividends Paid | -$40M |
| Other Financing Activities | -$76M |
| NET CASH FROM FINANCING | $111M |
| FREE CASH FLOW | $125M |
| Net Change in Cash | $27M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $24M |
| Short-Term Investments | $0 |
| Net Receivables | $334M |
| Inventory | $0 |
| Other Current Assets | $129M |
| TOTAL CURRENT ASSETS | $487M |
| PP&E (Net) | $4.7B |
| Goodwill | $0 |
| Intangible Assets | $13M |
| Long-Term Investments | $137M |
| Tax Assets | $266M |
| Other Non-Current Assets | $14M |
| TOTAL NON-CURRENT ASSETS | $5.2B |
| TOTAL ASSETS | $5.7B |
| Account Payables | $81M |
| Short-Term Debt | $216M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $548M |
| TOTAL CURRENT LIABILITIES | $906M |
| Long-Term Debt | $2.5B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $8M |
| Other Non-Current Liabilities | $1.5B |
| TOTAL NON-CURRENT LIABILITIES | $4.0B |
| TOTAL LIABILITIES | $4.9B |
| Common Stock | $21M |
| Additional Paid-In Capital | $1.4B |
| Retained Earnings | -$802M |
| Treasury Stock | -$148M |
| Accum. Other Comp. Income | $267M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $716M |
| Minority Interest | $12M |
| TOTAL EQUITY | $728M |
| TOTAL LIABILITIES & EQUITY | $5.7B |
| Total Debt | $2.8B |
| Net Debt | $2.7B |
