| Metric | Q2 2025 | Q1 2025 | Q2 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $393M | $290M | $451M | 35.3% | -12.9% |
| Op. Income | -$25M | -$34M | $172M | 26.3% | -114.5% |
| Gross Margin | -0.4% | 0.7% | 46.6% | -1.2pp | -47.0pp |
| Net Margin | -22.3% | -38.1% | 13.3% | 15.8pp | -35.6pp |
| EPS (Diluted) | $-0.18 | $-0.23 | $0.12 | 21.7% | -250.0% |
| Free Cash Flow | $45M | -$91M | -$15M | 149.0% | 407.6% |
| Item | Amount |
|---|---|
| REVENUE | $393M |
| Cost of Revenue | $394M |
| GROSS PROFIT | -$2M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $19M |
| SG&A Expenses | $19M |
| Other Expenses | $4M |
| Operating Expenses | $23M |
| Cost & Expenses | $418M |
| OPERATING INCOME | -$25M |
| Interest Income | $7M |
| Interest Expense | $60M |
| Other Income/Expenses | -$39M |
| INCOME BEFORE TAX | -$64M |
| Income Tax Expense | $24M |
| NET INCOME | -$88M |
| D&A | $153M |
| EBIT | -$4M |
| EBITDA | $149M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$88M |
| Depreciation & Amortization | $153M |
| Stock-Based Compensation | $7M |
| Deferred Income Tax | -$175.0K |
| Other Non-Cash Items | -$15M |
| Change in Working Capital | $70M |
| OPERATING CASH FLOW | $127M |
| Capital Expenditure | -$83M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$43M |
| NET CASH FROM INVESTING | -$125M |
| Net Debt Issuance | $100M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$100M |
| NET CASH FROM FINANCING | -$1.0K |
| FREE CASH FLOW | $45M |
| Net Change in Cash | $2M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $52M |
| Short-Term Investments | $0 |
| Net Receivables | $118M |
| Inventory | $163M |
| Other Current Assets | $31M |
| TOTAL CURRENT ASSETS | $363M |
| PP&E (Net) | $4.4B |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $4M |
| Other Non-Current Assets | $488M |
| TOTAL NON-CURRENT ASSETS | $4.8B |
| TOTAL ASSETS | $5.2B |
| Account Payables | $313M |
| Short-Term Debt | $250M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $6M |
| TOTAL CURRENT LIABILITIES | $809M |
| Long-Term Debt | $2.6B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $314M |
| Other Non-Current Liabilities | $471M |
| TOTAL NON-CURRENT LIABILITIES | $3.4B |
| TOTAL LIABILITIES | $4.2B |
| Common Stock | $5M |
| Additional Paid-In Capital | $2.5B |
| Retained Earnings | -$1.3B |
| Treasury Stock | -$237M |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $1.0B |
| Minority Interest | $0 |
| TOTAL EQUITY | $1.0B |
| TOTAL LIABILITIES & EQUITY | $5.2B |
| Total Debt | $2.9B |
| Net Debt | $2.8B |
