| Metric | Q2 2025 | Q1 2025 | Q2 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $200M | $234M | — | -14.4% | — |
| Op. Income | -$32M | -$23M | — | -38.8% | — |
| Gross Margin | 5.0% | 13.6% | — | -8.6pp | — |
| Net Margin | -25.4% | -15.8% | — | -9.6pp | — |
| EPS (Diluted) | $-0.14 | $-0.11 | — | -33.3% | — |
| Free Cash Flow | $3M | -$63M | — | 105.0% | — |
| Item | Amount |
|---|---|
| REVENUE | $200M |
| Cost of Revenue | $190M |
| GROSS PROFIT | $10M |
| R&D Expenses | $10M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $49M |
| Other Expenses | -$16M |
| Operating Expenses | $43M |
| Cost & Expenses | $233M |
| OPERATING INCOME | -$32M |
| Interest Income | $1M |
| Interest Expense | $7M |
| Other Income/Expenses | -$18M |
| INCOME BEFORE TAX | -$51M |
| Income Tax Expense | $69.0K |
| Net Income from Continuing Ops | -$51M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$51M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$51M |
| D&A | $0 |
| EBIT | -$44M |
| EBITDA | -$44M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$51M |
| Depreciation & Amortization | $0 |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $9M |
| Change in Working Capital | $73M |
| OPERATING CASH FLOW | $31M |
| Capital Expenditure | -$28M |
| Acquisitions (Net) | -$5M |
| Purchases of Investments | -$320.4K |
| Sales/Maturities of Investments | $6M |
| Other Investing Activities | -$4M |
| NET CASH FROM INVESTING | -$26M |
| Net Debt Issuance | -$14M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$4M |
| NET CASH FROM FINANCING | -$17M |
| FREE CASH FLOW | $3M |
| Net Change in Cash | -$21M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $368M |
| Short-Term Investments | $110M |
| Net Receivables | $231M |
| Inventory | $47M |
| Other Current Assets | $73M |
| TOTAL CURRENT ASSETS | $830M |
| PP&E (Net) | $1.1B |
| Goodwill | $0 |
| Intangible Assets | $418M |
| Long-Term Investments | $73M |
| Tax Assets | $23M |
| Other Non-Current Assets | $65M |
| TOTAL NON-CURRENT ASSETS | $1.7B |
| TOTAL ASSETS | $2.5B |
| Account Payables | $80M |
| Short-Term Debt | $147M |
| Deferred Revenue | $188M |
| Other Current Liabilities | $101M |
| TOTAL CURRENT LIABILITIES | $526M |
| Long-Term Debt | $488M |
| Deferred Revenue NC | $261M |
| Deferred Tax Liabilities | $19M |
| Other Non-Current Liabilities | $28M |
| TOTAL NON-CURRENT LIABILITIES | $795M |
| TOTAL LIABILITIES | $1.3B |
| Common Stock | $244M |
| Additional Paid-In Capital | $2.0B |
| Retained Earnings | -$1.0B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$42M |
| Other Equity | -$17M |
| TOTAL STOCKHOLDERS' EQUITY | $1.2B |
| Minority Interest | $0 |
| TOTAL EQUITY | $1.2B |
| TOTAL LIABILITIES & EQUITY | $2.5B |
| Total Debt | $634M |
| Net Debt | $267M |
