| Metric | Q2 2025 | Q1 2025 | Q2 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $2.4B | $2.1B | $2.4B | 10.1% | -3.0% |
| Op. Income | $6M | -$174M | $57M | 103.4% | -89.5% |
| Gross Margin | 25.9% | 18.6% | 27.4% | 7.4pp | -1.5pp |
| Net Margin | -3.1% | -9.7% | 1.0% | 6.6pp | -4.2pp |
| EPS (Diluted) | $-0.20 | $-0.59 | $0.07 | 66.1% | -379.3% |
| Free Cash Flow | -$234M | -$63M | -$465M | -271.4% | 49.7% |
| Item | Amount |
|---|---|
| REVENUE | $2.4B |
| Cost of Revenue | $1.7B |
| GROSS PROFIT | $611M |
| R&D Expenses | $0 |
| Selling & Marketing | $76M |
| General & Administrative | $0 |
| SG&A Expenses | $76M |
| Other Expenses | $529M |
| Operating Expenses | $605M |
| Cost & Expenses | $2.4B |
| OPERATING INCOME | $6M |
| Interest Income | $33M |
| Interest Expense | $144M |
| Other Income/Expenses | -$100M |
| INCOME BEFORE TAX | -$94M |
| Income Tax Expense | -$20M |
| Net Income from Continuing Ops | -$74M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$74M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$74M |
| D&A | $171M |
| EBIT | $50M |
| EBITDA | $221M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$74M |
| Depreciation & Amortization | $171M |
| Stock-Based Compensation | $10M |
| Deferred Income Tax | -$22M |
| Other Non-Cash Items | $15M |
| Change in Working Capital | -$215M |
| OPERATING CASH FLOW | -$115M |
| Capital Expenditure | -$119M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$300M |
| Sales/Maturities of Investments | $563M |
| Other Investing Activities | -$72M |
| NET CASH FROM INVESTING | $72M |
| Net Debt Issuance | -$147M |
| Common Stock Repurchased | -$3M |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | -$120M |
| FREE CASH FLOW | -$234M |
| Net Change in Cash | -$163M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $2.1B |
| Short-Term Investments | $929M |
| Net Receivables | $359M |
| Inventory | $174M |
| Other Current Assets | $210M |
| TOTAL CURRENT ASSETS | $3.8B |
| PP&E (Net) | $11.8B |
| Goodwill | $0 |
| Intangible Assets | $407M |
| Long-Term Investments | $630M |
| Tax Assets | $0 |
| Other Non-Current Assets | $290M |
| TOTAL NON-CURRENT ASSETS | $13.1B |
| TOTAL ASSETS | $16.9B |
| Account Payables | $633M |
| Short-Term Debt | $711M |
| Deferred Revenue | $1.7B |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $4.3B |
| Long-Term Debt | $7.5B |
| Deferred Revenue NC | $657M |
| Deferred Tax Liabilities | $544M |
| Other Non-Current Liabilities | $355M |
| TOTAL NON-CURRENT LIABILITIES | $10.2B |
| TOTAL LIABILITIES | $14.5B |
| Common Stock | $5M |
| Additional Paid-In Capital | $3.4B |
| Retained Earnings | $1.0B |
| Treasury Stock | -$2.0B |
| Accum. Other Comp. Income | $7M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $2.4B |
| Minority Interest | $0 |
| TOTAL EQUITY | $2.4B |
| TOTAL LIABILITIES & EQUITY | $16.9B |
| Total Debt | $9.4B |
| Net Debt | $7.3B |
