| Metric | Q2 2025 | Q1 2025 | Q2 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $689M | $523M | $641M | 31.7% | 7.4% |
| Op. Income | $179M | $76M | $144M | 136.3% | 24.6% |
| Gross Margin | 66.3% | 76.0% | 65.4% | -9.7pp | 0.9pp |
| Net Margin | 19.4% | -1.8% | 9.4% | 21.2pp | 9.9pp |
| EPS (Diluted) | $0.70 | $-0.05 | $0.32 | 1514.1% | 118.7% |
| Free Cash Flow | $402M | -$38M | — | 1164.5% | — |
| Item | Amount |
|---|---|
| REVENUE | $689M |
| Cost of Revenue | $232M |
| GROSS PROFIT | $457M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $278M |
| Other Expenses | $0 |
| Operating Expenses | $278M |
| Cost & Expenses | $509M |
| OPERATING INCOME | $179M |
| Interest Income | $0 |
| Interest Expense | $80M |
| Other Income/Expenses | -$83M |
| INCOME BEFORE TAX | $96M |
| Income Tax Expense | -$37M |
| Net Income from Continuing Ops | $133M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $133M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $133M |
| D&A | $79M |
| EBIT | $176M |
| EBITDA | $255M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| REVENUE | $689M |
| Cost of Revenue | $232M |
| GROSS PROFIT | $457M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $278M |
| Other Expenses | $0 |
| Operating Expenses | $278M |
| Cost & Expenses | $509M |
| OPERATING INCOME | $179M |
| Interest Income | $0 |
| Interest Expense | $80M |
| Other Income/Expenses | -$83M |
| INCOME BEFORE TAX | $96M |
| Income Tax Expense | -$37M |
| Net Income from Continuing Ops | $133M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $133M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $133M |
| D&A | $79M |
| EBIT | $176M |
| EBITDA | $255M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $133M |
| Depreciation & Amortization | $97M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | -$214.0K |
| Other Non-Cash Items | $446M |
| Change in Working Capital | -$261M |
| OPERATING CASH FLOW | $415M |
| Capital Expenditure | -$13M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$33M |
| Net Debt Issuance | -$752M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $626M |
| NET CASH FROM FINANCING | -$126M |
| FREE CASH FLOW | $402M |
| Net Change in Cash | $258M |
