| Metric | Q2 2026 | Q1 2026 | Q2 2025 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $80M | $73M | $65M | 8.9% | 23.3% |
| Op. Income | -$1M | -$4M | -$5M | 72.3% | 77.8% |
| Gross Margin | 10.9% | 8.2% | 10.0% | 2.8pp | 0.9pp |
| Net Margin | -2.1% | -4.2% | -5.8% | 2.0pp | 3.7pp |
| EPS (Diluted) | $-0.14 | $-0.25 | $-0.31 | 44.0% | 54.8% |
| Free Cash Flow | $25M | -$13M | -$7M | 288.9% | 436.9% |
| Item | Amount |
|---|---|
| REVENUE | $80M |
| Cost of Revenue | $71M |
| GROSS PROFIT | $9M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $10M |
| SG&A Expenses | $10M |
| Other Expenses | $0 |
| Operating Expenses | $10M |
| Cost & Expenses | $81M |
| OPERATING INCOME | -$1M |
| Interest Income | $582.0K |
| Interest Expense | $15.0K |
| Other Income/Expenses | -$643.0K |
| INCOME BEFORE TAX | -$2M |
| Income Tax Expense | $51.0K |
| Net Income from Continuing Ops | -$2M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$2M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$2M |
| D&A | $4M |
| EBIT | -$1M |
| EBITDA | $3M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$2M |
| Depreciation & Amortization | $4M |
| Stock-Based Compensation | $1M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$131.0K |
| Change in Working Capital | $4M |
| OPERATING CASH FLOW | $8M |
| Capital Expenditure | $18M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$15M |
| Sales/Maturities of Investments | $15M |
| Other Investing Activities | -$34M |
| NET CASH FROM INVESTING | -$16M |
| Net Debt Issuance | -$22.0K |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$311.0K |
| NET CASH FROM FINANCING | $118.0K |
| FREE CASH FLOW | $25M |
| Net Change in Cash | -$9M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $27M |
| Short-Term Investments | $21M |
| Net Receivables | $7M |
| Inventory | $3M |
| Other Current Assets | $6M |
| TOTAL CURRENT ASSETS | $63M |
| PP&E (Net) | $369M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $22M |
| Tax Assets | $0 |
| Other Non-Current Assets | $8M |
| TOTAL NON-CURRENT ASSETS | $398M |
| TOTAL ASSETS | $461M |
| Account Payables | $11M |
| Short-Term Debt | $15M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $17M |
| TOTAL CURRENT LIABILITIES | $43M |
| Long-Term Debt | $188M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $1M |
| TOTAL NON-CURRENT LIABILITIES | $189M |
| TOTAL LIABILITIES | $232M |
| Common Stock | $12.0K |
| Additional Paid-In Capital | $0 |
| Retained Earnings | -$40M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $23.0K |
| Other Equity | $268M |
| TOTAL STOCKHOLDERS' EQUITY | $229M |
| Minority Interest | $0 |
| TOTAL EQUITY | $229M |
| TOTAL LIABILITIES & EQUITY | $461M |
| Total Debt | $203M |
| Net Debt | $177M |
