| Metric | Q2 2025 | Q1 2025 | Q2 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $164M | $151M | $122M | 8.5% | 34.5% |
| Op. Income | -$43M | -$61M | -$55M | 30.6% | 22.7% |
| Gross Margin | 39.7% | 26.3% | 26.8% | 13.5pp | 12.9pp |
| Net Margin | -26.8% | -41.3% | -46.9% | 14.5pp | 20.1pp |
| EPS (Diluted) | $-0.60 | $-0.86 | $-0.81 | 30.2% | 25.9% |
| Free Cash Flow | $3M | -$50M | -$13M | 106.9% | 125.8% |
| Item | Amount |
|---|---|
| REVENUE | $164M |
| Cost of Revenue | $99M |
| GROSS PROFIT | $65M |
| R&D Expenses | $0 |
| Selling & Marketing | $60M |
| General & Administrative | $26M |
| SG&A Expenses | $85M |
| Other Expenses | $22M |
| Operating Expenses | $108M |
| Cost & Expenses | $207M |
| OPERATING INCOME | -$43M |
| Interest Income | $2M |
| Interest Expense | $0 |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | -$43M |
| Income Tax Expense | $1M |
| Net Income from Continuing Ops | -$44M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$44M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$44M |
| D&A | $5M |
| EBIT | -$43M |
| EBITDA | -$38M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$44M |
| Depreciation & Amortization | $5M |
| Stock-Based Compensation | $15M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $3M |
| Change in Working Capital | $26M |
| OPERATING CASH FLOW | $6M |
| Capital Expenditure | -$2M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$108M |
| Sales/Maturities of Investments | $140M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $30M |
| Net Debt Issuance | $22M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $24M |
| FREE CASH FLOW | $3M |
| Net Change in Cash | $66M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $378M |
| Short-Term Investments | $293M |
| Net Receivables | $525M |
| Inventory | $0 |
| Other Current Assets | -$1.5B |
| TOTAL CURRENT ASSETS | $0 |
| PP&E (Net) | $16M |
| Goodwill | $19M |
| Intangible Assets | $9M |
| Long-Term Investments | $646M |
| Tax Assets | $0 |
| Other Non-Current Assets | -$690M |
| TOTAL NON-CURRENT ASSETS | $0 |
| TOTAL ASSETS | $1.9B |
| Account Payables | $35M |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | -$119M |
| TOTAL CURRENT LIABILITIES | $0 |
| Long-Term Debt | $124M |
| Deferred Revenue NC | $68M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | -$212M |
| TOTAL NON-CURRENT LIABILITIES | $0 |
| TOTAL LIABILITIES | $1.4B |
| Common Stock | $0 |
| Additional Paid-In Capital | $1.9B |
| Retained Earnings | -$1.4B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $4M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $527M |
| Minority Interest | $0 |
| TOTAL EQUITY | $527M |
| TOTAL LIABILITIES & EQUITY | $1.9B |
| Total Debt | $144M |
| Net Debt | -$234M |
