| Metric | Q2 2025 | Q1 2025 | Q2 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $2.4B | $3.9B | $3.5B | -39.5% | -32.6% |
| Op. Income | -$363M | $174M | $681M | -308.6% | -153.3% |
| Gross Margin | 30.4% | 80.6% | 49.8% | -50.3pp | -19.5pp |
| Net Margin | -14.8% | 1.6% | 12.2% | -16.4pp | -27.0pp |
| EPS (Diluted) | $-1.21 | $0.16 | $1.23 | -856.2% | -198.4% |
| Free Cash Flow | $45M | $420M | $856M | -89.3% | -94.7% |
| Item | Amount |
|---|---|
| REVENUE | $2.4B |
| Cost of Revenue | $1.6B |
| GROSS PROFIT | $717M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $592M |
| SG&A Expenses | $592M |
| Other Expenses | $488M |
| Operating Expenses | $1.1B |
| Cost & Expenses | $2.7B |
| OPERATING INCOME | -$363M |
| Interest Income | $0 |
| Interest Expense | $61M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | -$363M |
| Income Tax Expense | -$80M |
| Net Income from Continuing Ops | -$283M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$349M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$367M |
| D&A | $220M |
| EBIT | -$302M |
| EBITDA | -$82M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$349M |
| Depreciation & Amortization | $0 |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $1.2B |
| Change in Working Capital | -$804M |
| OPERATING CASH FLOW | $52M |
| Capital Expenditure | -$7M |
| Acquisitions (Net) | $81M |
| Purchases of Investments | -$8.6B |
| Sales/Maturities of Investments | $6.0B |
| Other Investing Activities | $136M |
| NET CASH FROM INVESTING | -$2.4B |
| Net Debt Issuance | $324M |
| Common Stock Repurchased | -$1.3B |
| Common Dividends Paid | -$82M |
| Other Financing Activities | $9.9B |
| NET CASH FROM FINANCING | $8.9B |
| FREE CASH FLOW | $45M |
| Net Change in Cash | $6.5B |
| Item | Amount |
|---|---|
| Cash & Equivalents | $15.0B |
| Short-Term Investments | $104M |
| Net Receivables | $11.2B |
| Inventory | $0 |
| Other Current Assets | -$19.5B |
| TOTAL CURRENT ASSETS | $35.2B |
| PP&E (Net) | $0 |
| Goodwill | $0 |
| Intangible Assets | $5.3B |
| Long-Term Investments | $114.0B |
| Tax Assets | $0 |
| Other Non-Current Assets | $148.6B |
| TOTAL NON-CURRENT ASSETS | $267.9B |
| TOTAL ASSETS | $303.1B |
| Account Payables | $4.7B |
| Short-Term Debt | $104M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $13.6B |
| TOTAL CURRENT LIABILITIES | $19.9B |
| Long-Term Debt | $6.8B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $273.4B |
| TOTAL NON-CURRENT LIABILITIES | $280.3B |
| TOTAL LIABILITIES | $300.1B |
| Common Stock | $5M |
| Additional Paid-In Capital | $1.9B |
| Retained Earnings | $9.9B |
| Treasury Stock | -$4.4B |
| Accum. Other Comp. Income | -$7.4B |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $1.1B |
| Minority Interest | $1.8B |
| TOTAL EQUITY | $3.0B |
| TOTAL LIABILITIES & EQUITY | $303.1B |
| Total Debt | $6.9B |
| Net Debt | -$8.1B |
