| Metric | Q2 2025 | Q1 2025 | Q2 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $158M | $162M | $175M | -2.6% | -9.7% |
| Op. Income | -$109M | $2M | -$79M | -4562.5% | -37.6% |
| Gross Margin | -41.6% | 29.6% | 38.4% | -71.2pp | -80.0pp |
| Net Margin | -44.2% | 1.0% | -47.9% | -45.2pp | 3.7pp |
| EPS (Diluted) | $-2.30 | $0.06 | $-2.78 | -4274.2% | 17.3% |
| Free Cash Flow | -$29M | $43M | $55M | -168.2% | -153.1% |
| Item | Amount |
|---|---|
| REVENUE | $158M |
| Cost of Revenue | $224M |
| GROSS PROFIT | -$66M |
| R&D Expenses | $0 |
| Selling & Marketing | $1M |
| General & Administrative | $2M |
| SG&A Expenses | $3M |
| Other Expenses | $41M |
| Operating Expenses | $43M |
| Cost & Expenses | $267M |
| OPERATING INCOME | -$109M |
| Interest Income | $151M |
| Interest Expense | $84M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | -$109M |
| Income Tax Expense | -$39M |
| Net Income from Continuing Ops | -$70M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$70M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$70M |
| D&A | $785.0K |
| EBIT | -$109M |
| EBITDA | -$108M |
| EPS | -$2 |
| EPS Diluted | -$2 |
| Item | Amount |
|---|---|
| Net Income | -$70M |
| Depreciation & Amortization | $785.0K |
| Stock-Based Compensation | $2M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $143M |
| Change in Working Capital | -$105M |
| OPERATING CASH FLOW | -$29M |
| Capital Expenditure | -$726.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $113M |
| Other Investing Activities | $108M |
| NET CASH FROM INVESTING | $221M |
| Net Debt Issuance | -$440M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | -$5M |
| Other Financing Activities | -$167M |
| NET CASH FROM FINANCING | -$611M |
| FREE CASH FLOW | -$29M |
| Net Change in Cash | -$419M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $253M |
| Short-Term Investments | $1.2B |
| Net Receivables | $0 |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $1.4B |
| PP&E (Net) | $38M |
| Goodwill | $0 |
| Intangible Assets | $9.0K |
| Long-Term Investments | $8.5B |
| Tax Assets | $81M |
| Other Non-Current Assets | $586M |
| TOTAL NON-CURRENT ASSETS | $9.2B |
| TOTAL ASSETS | $10.6B |
| Account Payables | $0 |
| Short-Term Debt | $73M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $9.1B |
| TOTAL CURRENT LIABILITIES | $9.2B |
| Long-Term Debt | $76M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $110M |
| TOTAL NON-CURRENT LIABILITIES | $223M |
| TOTAL LIABILITIES | $9.4B |
| Common Stock | $300.0K |
| Additional Paid-In Capital | $389M |
| Retained Earnings | $904M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$108M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $1.2B |
| Minority Interest | $0 |
| TOTAL EQUITY | $1.2B |
| TOTAL LIABILITIES & EQUITY | $10.6B |
| Total Debt | $187M |
| Net Debt | -$66M |
