| Metric | Q2 2025 | Q1 2025 | Q2 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $89M | $63M | $58M | 39.5% | 52.1% |
| Op. Income | -$5M | $4M | $2M | -218.7% | -387.2% |
| Gross Margin | 8.7% | 20.2% | 17.5% | -11.5pp | -8.8pp |
| Net Margin | -23.1% | -51.8% | -24.0% | 28.7pp | 1.0pp |
| EPS (Diluted) | $-0.07 | $-0.13 | $-0.06 | 44.5% | -25.0% |
| Free Cash Flow | -$33M | -$38M | -$43M | 14.7% | 25.0% |
| Item | Amount |
|---|---|
| REVENUE | $89M |
| Cost of Revenue | $81M |
| GROSS PROFIT | $8M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $8M |
| SG&A Expenses | $8M |
| Other Expenses | $5M |
| Operating Expenses | $13M |
| Cost & Expenses | $93M |
| OPERATING INCOME | -$5M |
| Interest Income | $0 |
| Interest Expense | $1M |
| Other Income/Expenses | -$10M |
| INCOME BEFORE TAX | -$15M |
| Income Tax Expense | $6M |
| Net Income from Continuing Ops | -$20M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$20M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$20M |
| D&A | $15M |
| EBIT | -$13M |
| EBITDA | $2M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$20M |
| Depreciation & Amortization | $15M |
| Stock-Based Compensation | $2M |
| Deferred Income Tax | -$3M |
| Other Non-Cash Items | $21M |
| Change in Working Capital | $7M |
| OPERATING CASH FLOW | $22M |
| Capital Expenditure | -$54M |
| Acquisitions (Net) | -$73M |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $796.0K |
| Other Investing Activities | $725.0K |
| NET CASH FROM INVESTING | -$125M |
| Net Debt Issuance | $12M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $32M |
| NET CASH FROM FINANCING | $91M |
| FREE CASH FLOW | -$33M |
| Net Change in Cash | -$12M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $52M |
| Short-Term Investments | $595.0K |
| Net Receivables | $73M |
| Inventory | $60M |
| Other Current Assets | $12M |
| TOTAL CURRENT ASSETS | $198M |
| PP&E (Net) | $783M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $15M |
| TOTAL NON-CURRENT ASSETS | $798M |
| TOTAL ASSETS | $996M |
| Account Payables | $103M |
| Short-Term Debt | $15M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $76M |
| TOTAL CURRENT LIABILITIES | $213M |
| Long-Term Debt | $122M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $28M |
| Other Non-Current Liabilities | $104M |
| TOTAL NON-CURRENT LIABILITIES | $254M |
| TOTAL LIABILITIES | $467M |
| Common Stock | $948M |
| Additional Paid-In Capital | $7M |
| Retained Earnings | -$426M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $529M |
| Minority Interest | $0 |
| TOTAL EQUITY | $529M |
| TOTAL LIABILITIES & EQUITY | $996M |
| Total Debt | $137M |
| Net Debt | $84M |
