| Metric | Q2 2025 | Q1 2025 | Q2 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $177M | $175M | $189M | 1.1% | -6.1% |
| Op. Income | -$48M | -$40M | -$31M | -21.9% | -58.5% |
| Gross Margin | 24.8% | 27.2% | 28.8% | -2.4pp | -4.0pp |
| Net Margin | -29.0% | -25.4% | -18.3% | -3.5pp | -10.7pp |
| EPS (Diluted) | $-5.60 | $-4.80 | $-3.74 | -16.7% | -49.7% |
| Free Cash Flow | -$56M | -$110M | -$56M | 49.2% | 1.3% |
| Item | Amount |
|---|---|
| REVENUE | $177M |
| Cost of Revenue | $133M |
| GROSS PROFIT | $44M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $90M |
| Other Expenses | $2M |
| Operating Expenses | $92M |
| Cost & Expenses | $226M |
| OPERATING INCOME | -$48M |
| Interest Income | $0 |
| Interest Expense | $16M |
| Other Income/Expenses | -$16M |
| INCOME BEFORE TAX | -$64M |
| Income Tax Expense | -$13M |
| Net Income from Continuing Ops | -$51M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$51M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$51M |
| D&A | $8M |
| EBIT | -$48M |
| EBITDA | -$40M |
| EPS | -$6 |
| EPS Diluted | -$6 |
| Item | Amount |
|---|---|
| Net Income | -$51M |
| Depreciation & Amortization | $8M |
| Stock-Based Compensation | $2M |
| Deferred Income Tax | -$13M |
| Other Non-Cash Items | $601.0K |
| Change in Working Capital | $4M |
| OPERATING CASH FLOW | -$49M |
| Capital Expenditure | -$7M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $56.0K |
| NET CASH FROM INVESTING | -$6M |
| Net Debt Issuance | $61M |
| Common Stock Repurchased | -$15.0K |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $61M |
| FREE CASH FLOW | -$56M |
| Net Change in Cash | $6M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $17M |
| Short-Term Investments | $0 |
| Net Receivables | $32M |
| Inventory | $335M |
| Other Current Assets | $13M |
| TOTAL CURRENT ASSETS | $418M |
| PP&E (Net) | $346M |
| Goodwill | $181M |
| Intangible Assets | $33M |
| Long-Term Investments | $0 |
| Tax Assets | $29M |
| Other Non-Current Assets | $37M |
| TOTAL NON-CURRENT ASSETS | $625M |
| TOTAL ASSETS | $1.0B |
| Account Payables | $115M |
| Short-Term Debt | $65M |
| Deferred Revenue | $8M |
| Other Current Liabilities | -$5M |
| TOTAL CURRENT LIABILITIES | $268M |
| Long-Term Debt | $853M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $4M |
| TOTAL NON-CURRENT LIABILITIES | $1.0B |
| TOTAL LIABILITIES | $1.3B |
| Common Stock | $185.0K |
| Additional Paid-In Capital | $110M |
| Retained Earnings | -$380M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | -$269M |
| Minority Interest | $0 |
| TOTAL EQUITY | -$269M |
| TOTAL LIABILITIES & EQUITY | $1.0B |
| Total Debt | $1.1B |
| Net Debt | $1.1B |
