| Metric | Q2 2026 | Q1 2026 | Q2 2025 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | -$5M | $24M | $65M | -119.8% | -107.2% |
| Op. Income | $39M | $17M | $23M | 128.5% | 74.4% |
| Gross Margin | 304.9% | 83.4% | 89.9% | 221.5pp | 215.0pp |
| Net Margin | -616.2% | 33.0% | 23.9% | -649.2pp | -640.1pp |
| EPS (Diluted) | $0.75 | $0.21 | $0.42 | 257.1% | 78.6% |
| Free Cash Flow | $9M | $8M | $58M | 7.9% | -84.5% |
| Item | Amount |
|---|---|
| REVENUE | -$5M |
| Cost of Revenue | $10M |
| GROSS PROFIT | -$14M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $0 |
| Operating Expenses | $0 |
| Cost & Expenses | -$44M |
| OPERATING INCOME | $39M |
| Interest Income | $0 |
| Interest Expense | $0 |
| Other Income/Expenses | -$11M |
| INCOME BEFORE TAX | $29M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | $29M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $29M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $29M |
| D&A | $0 |
| EBIT | $39M |
| EBITDA | $39M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $29M |
| Depreciation & Amortization | $0 |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$24M |
| Change in Working Capital | $4M |
| OPERATING CASH FLOW | $9M |
| Capital Expenditure | $0 |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$71M |
| Sales/Maturities of Investments | $1M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$70M |
| Net Debt Issuance | $36M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $58M |
| FREE CASH FLOW | $9M |
| Net Change in Cash | -$3M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $210.0K |
| Short-Term Investments | $0 |
| Net Receivables | $6M |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $6M |
| PP&E (Net) | $0 |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $0 |
| TOTAL NON-CURRENT ASSETS | $0 |
| TOTAL ASSETS | $1.1B |
| Account Payables | $0 |
| Short-Term Debt | $457M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $457M |
| Long-Term Debt | $555M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | -$959M |
| TOTAL NON-CURRENT LIABILITIES | -$404M |
| TOTAL LIABILITIES | $609M |
| Common Stock | $40.0K |
| Additional Paid-In Capital | $484M |
| Retained Earnings | -$41M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $93M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $536M |
| Minority Interest | $0 |
| TOTAL EQUITY | $536M |
| TOTAL LIABILITIES & EQUITY | $1.1B |
| Total Debt | $457M |
| Net Debt | $457M |
