| Metric | Q2 2025 | Q1 2025 | Q2 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $82M | $65M | $74M | 26.8% | 11.6% |
| Op. Income | $7M | -$22M | $3M | 132.1% | 175.1% |
| Gross Margin | 65.4% | 51.5% | 78.9% | 13.9pp | -13.5pp |
| Net Margin | -15.4% | -62.2% | -83.9% | 46.8pp | 68.4pp |
| EPS (Diluted) | $-0.02 | $-0.21 | $-0.33 | 88.5% | 92.7% |
| Free Cash Flow | -$31M | -$23M | -$7M | -38.9% | -331.5% |
| Item | Amount |
|---|---|
| REVENUE | $82M |
| Cost of Revenue | $29M |
| GROSS PROFIT | $54M |
| R&D Expenses | $7M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $40M |
| Other Expenses | $0 |
| Operating Expenses | $47M |
| Cost & Expenses | $75M |
| OPERATING INCOME | $7M |
| Interest Income | $0 |
| Interest Expense | $20M |
| Other Income/Expenses | -$20M |
| INCOME BEFORE TAX | -$13M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | -$13M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$13M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$13M |
| D&A | $27.0K |
| EBIT | $8M |
| EBITDA | $8M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$13M |
| Depreciation & Amortization | $27.0K |
| Stock-Based Compensation | $3M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $5M |
| Change in Working Capital | -$26M |
| OPERATING CASH FLOW | -$31M |
| Capital Expenditure | $0 |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $0 |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $3M |
| FREE CASH FLOW | -$31M |
| Net Change in Cash | -$29M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $86M |
| Short-Term Investments | $0 |
| Net Receivables | $108M |
| Inventory | $114M |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $343M |
| PP&E (Net) | $4M |
| Goodwill | $0 |
| Intangible Assets | $56.0K |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $0 |
| TOTAL NON-CURRENT ASSETS | $4M |
| TOTAL ASSETS | $347M |
| Account Payables | $75M |
| Short-Term Debt | $121M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $84M |
| TOTAL CURRENT LIABILITIES | $299M |
| Long-Term Debt | $473M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $7M |
| TOTAL NON-CURRENT LIABILITIES | $482M |
| TOTAL LIABILITIES | $781M |
| Common Stock | $200.0K |
| Additional Paid-In Capital | $1.3B |
| Retained Earnings | -$1.7B |
| Treasury Stock | -$55M |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | -$434M |
| Minority Interest | $0 |
| TOTAL EQUITY | -$434M |
| TOTAL LIABILITIES & EQUITY | $347M |
| Total Debt | $598M |
| Net Debt | $512M |
