| Metric | Q2 2025 | Q1 2025 | Q2 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $354M | $310M | $359M | 14.1% | -1.4% |
| Op. Income | $49M | $76M | $99M | -36.2% | -50.7% |
| Gross Margin | 35.3% | 44.3% | 41.4% | -9.0pp | -6.1pp |
| Net Margin | 10.7% | 18.8% | 21.3% | -8.0pp | -10.6pp |
| EPS (Diluted) | $0.60 | $0.93 | $1.49 | -35.5% | -59.7% |
| Free Cash Flow | -$126M | $141M | $46M | -189.1% | -374.3% |
| Item | Amount |
|---|---|
| REVENUE | $354M |
| Cost of Revenue | $229M |
| GROSS PROFIT | $125M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $3M |
| SG&A Expenses | $3M |
| Other Expenses | $73M |
| Operating Expenses | $76M |
| Cost & Expenses | $305M |
| OPERATING INCOME | $49M |
| Interest Income | $304M |
| Interest Expense | $176M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $49M |
| Income Tax Expense | $11M |
| Net Income from Continuing Ops | $38M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $38M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $28M |
| D&A | $770.0K |
| EBIT | $49M |
| EBITDA | $50M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| REVENUE | $354M |
| Cost of Revenue | $229M |
| GROSS PROFIT | $125M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $3M |
| SG&A Expenses | $3M |
| Other Expenses | $73M |
| Operating Expenses | $76M |
| Cost & Expenses | $305M |
| OPERATING INCOME | $49M |
| Interest Income | $304M |
| Interest Expense | $176M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $49M |
| Income Tax Expense | $11M |
| Net Income from Continuing Ops | $38M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $38M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $28M |
| D&A | $770.0K |
| EBIT | $49M |
| EBITDA | $50M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $38M |
| Depreciation & Amortization | $770.0K |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$136M |
| Change in Working Capital | -$24M |
| OPERATING CASH FLOW | -$121M |
| Capital Expenditure | -$5M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$197M |
| Sales/Maturities of Investments | $261M |
| Other Investing Activities | -$85M |
| NET CASH FROM INVESTING | -$26M |
| Net Debt Issuance | $8M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | -$15M |
| Other Financing Activities | $281M |
| NET CASH FROM FINANCING | $273M |
| FREE CASH FLOW | -$126M |
| Net Change in Cash | $126M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $647M |
| Short-Term Investments | $677M |
| Net Receivables | $82M |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $1.4B |
| PP&E (Net) | $71M |
| Goodwill | $8M |
| Intangible Assets | $193M |
| Long-Term Investments | $16.7B |
| Tax Assets | $0 |
| Other Non-Current Assets | $715M |
| TOTAL NON-CURRENT ASSETS | $17.7B |
| TOTAL ASSETS | $19.1B |
| Account Payables | $0 |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $12.7B |
| TOTAL CURRENT LIABILITIES | $12.7B |
| Long-Term Debt | $3.8B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $29M |
| Other Non-Current Liabilities | $406M |
| TOTAL NON-CURRENT LIABILITIES | $4.3B |
| TOTAL LIABILITIES | $17.0B |
| Common Stock | $241M |
| Additional Paid-In Capital | $0 |
| Retained Earnings | $1.4B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$247.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $2.2B |
| Minority Interest | $0 |
| TOTAL EQUITY | $2.2B |
| TOTAL LIABILITIES & EQUITY | $19.1B |
| Total Debt | $3.8B |
| Net Debt | $3.2B |
