| Metric | Q2 2025 | Q1 2025 | Q2 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $553M | $602M | $619M | -8.1% | -10.7% |
| Op. Income | -$28M | -$62M | -$18M | 54.4% | -60.1% |
| Gross Margin | 7.5% | 0.5% | 6.1% | 7.0pp | 1.4pp |
| Net Margin | -13.1% | -12.1% | -3.9% | -0.9pp | -9.1pp |
| EPS (Diluted) | $-1.09 | $-1.14 | $-0.38 | 4.4% | -186.8% |
| Free Cash Flow | $48M | -$72M | -$33M | 166.4% | 245.2% |
| Item | Amount |
|---|---|
| REVENUE | $553M |
| Cost of Revenue | $511M |
| GROSS PROFIT | $42M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $28M |
| Other Expenses | $42M |
| Operating Expenses | $70M |
| Cost & Expenses | $581M |
| OPERATING INCOME | -$28M |
| Interest Income | $634.0K |
| Interest Expense | $14M |
| Other Income/Expenses | -$42M |
| INCOME BEFORE TAX | -$70M |
| Income Tax Expense | $2M |
| Net Income from Continuing Ops | -$72M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$72M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$72M |
| D&A | $28M |
| EBIT | -$28M |
| EBITDA | -$208.0K |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$72M |
| Depreciation & Amortization | $28M |
| Stock-Based Compensation | $2M |
| Deferred Income Tax | $2M |
| Other Non-Cash Items | $47M |
| Change in Working Capital | $52M |
| OPERATING CASH FLOW | $59M |
| Capital Expenditure | -$11M |
| Acquisitions (Net) | -$909.0K |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $421.0K |
| NET CASH FROM INVESTING | -$12M |
| Net Debt Issuance | -$58M |
| Common Stock Repurchased | -$104.0K |
| Common Dividends Paid | $0 |
| Other Financing Activities | $37M |
| NET CASH FROM FINANCING | -$21M |
| FREE CASH FLOW | $48M |
| Net Change in Cash | $26M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $153M |
| Short-Term Investments | $0 |
| Net Receivables | $103M |
| Inventory | $156M |
| Other Current Assets | $24M |
| TOTAL CURRENT ASSETS | $436M |
| PP&E (Net) | $1.1B |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $46M |
| TOTAL NON-CURRENT ASSETS | $1.2B |
| TOTAL ASSETS | $1.6B |
| Account Payables | $99M |
| Short-Term Debt | $119M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $56M |
| TOTAL CURRENT LIABILITIES | $297M |
| Long-Term Debt | $426M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $107M |
| TOTAL NON-CURRENT LIABILITIES | $575M |
| TOTAL LIABILITIES | $872M |
| Common Stock | $68.0K |
| Additional Paid-In Capital | $1.2B |
| Retained Earnings | -$463M |
| Treasury Stock | -$31M |
| Accum. Other Comp. Income | -$7M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $735M |
| Minority Interest | $5M |
| TOTAL EQUITY | $740M |
| TOTAL LIABILITIES & EQUITY | $1.6B |
| Total Debt | $610M |
| Net Debt | $458M |
