| Metric | Q2 2025 | Q1 2025 | Q2 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $107M | $93M | $90M | 15.7% | 18.9% |
| Op. Income | -$313M | -$248M | -$289M | -26.1% | -8.3% |
| Gross Margin | 73.9% | 77.1% | 76.8% | -3.2pp | -2.9pp |
| Net Margin | -299.5% | -276.4% | -332.8% | -23.1pp | 33.3pp |
| EPS (Diluted) | $-1.70 | $-1.42 | $-1.94 | -19.7% | 12.4% |
| Free Cash Flow | -$209M | -$272M | -$130M | 23.2% | -61.1% |
| Item | Amount |
|---|---|
| REVENUE | $107M |
| Cost of Revenue | $28M |
| GROSS PROFIT | $79M |
| R&D Expenses | $177M |
| Selling & Marketing | $0 |
| General & Administrative | $155M |
| SG&A Expenses | $155M |
| Other Expenses | $60M |
| Operating Expenses | $392M |
| Cost & Expenses | $420M |
| OPERATING INCOME | -$313M |
| Interest Income | $13M |
| Interest Expense | $21M |
| Other Income/Expenses | -$8M |
| INCOME BEFORE TAX | -$320M |
| Income Tax Expense | $1M |
| Net Income from Continuing Ops | -$322M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$322M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$322M |
| D&A | $4M |
| EBIT | -$301M |
| EBITDA | -$297M |
| EPS | -$2 |
| EPS Diluted | -$2 |
| Item | Amount |
|---|---|
| Net Income | -$322M |
| Depreciation & Amortization | $4M |
| Stock-Based Compensation | $43M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $60M |
| Change in Working Capital | $10M |
| OPERATING CASH FLOW | -$206M |
| Capital Expenditure | -$3M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$277M |
| Sales/Maturities of Investments | $508M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $228M |
| Net Debt Issuance | -$3M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $858M |
| FREE CASH FLOW | -$209M |
| Net Change in Cash | $881M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $1.3B |
| Short-Term Investments | $572M |
| Net Receivables | $55M |
| Inventory | $108M |
| Other Current Assets | $62M |
| TOTAL CURRENT ASSETS | $2.1B |
| PP&E (Net) | $117M |
| Goodwill | $136M |
| Intangible Assets | $56M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $89M |
| TOTAL NON-CURRENT ASSETS | $398M |
| TOTAL ASSETS | $2.5B |
| Account Payables | $74M |
| Short-Term Debt | $11M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $176M |
| TOTAL CURRENT LIABILITIES | $312M |
| Long-Term Debt | $702M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $186M |
| TOTAL NON-CURRENT LIABILITIES | $918M |
| TOTAL LIABILITIES | $1.2B |
| Common Stock | $2M |
| Additional Paid-In Capital | $6.2B |
| Retained Earnings | -$4.9B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $2M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $1.2B |
| Minority Interest | $0 |
| TOTAL EQUITY | $1.2B |
| TOTAL LIABILITIES & EQUITY | $2.5B |
| Total Debt | $743M |
| Net Debt | -$541M |
