| Metric | Q2 2025 | Q1 2025 | Q2 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $128M | $119M | $151M | 8.2% | -15.2% |
| Op. Income | $60M | $49M | $52M | 23.4% | 15.8% |
| Gross Margin | 37.0% | 29.2% | 37.4% | 7.8pp | -0.5pp |
| Net Margin | 43.7% | 37.2% | 29.3% | 6.5pp | 14.4pp |
| EPS (Diluted) | $0.35 | $0.27 | $0.27 | 29.6% | 29.6% |
| Free Cash Flow | $44M | $33M | $31M | 30.8% | 42.9% |
| Item | Amount |
|---|---|
| REVENUE | $128M |
| Cost of Revenue | $81M |
| GROSS PROFIT | $47M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $5M |
| SG&A Expenses | $5M |
| Other Expenses | -$17M |
| Operating Expenses | -$13M |
| Cost & Expenses | $68M |
| OPERATING INCOME | $60M |
| Interest Income | $820.0K |
| Interest Expense | $4M |
| Other Income/Expenses | -$4M |
| INCOME BEFORE TAX | $56M |
| Income Tax Expense | $29.0K |
| Net Income from Continuing Ops | $56M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $56M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $56M |
| D&A | $26M |
| EBIT | $60M |
| EBITDA | $86M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $128M |
| Cost of Revenue | $81M |
| GROSS PROFIT | $47M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $5M |
| SG&A Expenses | $5M |
| Other Expenses | -$17M |
| Operating Expenses | -$13M |
| Cost & Expenses | $68M |
| OPERATING INCOME | $60M |
| Interest Income | $820.0K |
| Interest Expense | $4M |
| Other Income/Expenses | -$4M |
| INCOME BEFORE TAX | $56M |
| Income Tax Expense | $29.0K |
| Net Income from Continuing Ops | $56M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $56M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $56M |
| D&A | $26M |
| EBIT | $60M |
| EBITDA | $86M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $56M |
| Depreciation & Amortization | $26M |
| Stock-Based Compensation | $1M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$16M |
| Change in Working Capital | $17M |
| OPERATING CASH FLOW | $84M |
| Capital Expenditure | -$40M |
| Acquisitions (Net) | $45M |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $6M |
| NET CASH FROM INVESTING | $11M |
| Net Debt Issuance | -$62M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | -$24M |
| Other Financing Activities | -$6M |
| NET CASH FROM FINANCING | -$93M |
| FREE CASH FLOW | $44M |
| Net Change in Cash | $2M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $83M |
| Short-Term Investments | $0 |
| Net Receivables | $40M |
| Inventory | $31M |
| Other Current Assets | $36M |
| TOTAL CURRENT ASSETS | $194M |
| PP&E (Net) | $1.2B |
| Goodwill | $1M |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | -$1.0K |
| TOTAL NON-CURRENT ASSETS | $1.2B |
| TOTAL ASSETS | $1.4B |
| Account Payables | $25M |
| Short-Term Debt | $49M |
| Deferred Revenue | $8M |
| Other Current Liabilities | $1M |
| TOTAL CURRENT LIABILITIES | $83M |
| Long-Term Debt | $254M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $4M |
| TOTAL NON-CURRENT LIABILITIES | $258M |
| TOTAL LIABILITIES | $341M |
| Common Stock | $2M |
| Additional Paid-In Capital | $1.2B |
| Retained Earnings | -$139M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $3M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $1.1B |
| Minority Interest | $63.0K |
| TOTAL EQUITY | $1.1B |
| TOTAL LIABILITIES & EQUITY | $1.4B |
| Total Debt | $303M |
| Net Debt | $220M |
