| Metric | Q2 2025 | Q1 2025 | Q2 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $85M | — | $89M | — | -3.9% |
| Op. Income | -$6M | — | -$100M | — | 94.5% |
| Gross Margin | 36.9% | — | 38.1% | — | -1.2pp |
| Net Margin | -24.4% | — | -131.1% | — | 106.8pp |
| EPS (Diluted) | $0.00 | — | $0.00 | — | NaN% |
| Free Cash Flow | $1M | — | $393.0K | — | 245.0% |
| Item | Amount |
|---|---|
| REVENUE | $85M |
| Cost of Revenue | $54M |
| GROSS PROFIT | $31M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $5M |
| SG&A Expenses | $5M |
| Other Expenses | $32M |
| Operating Expenses | $37M |
| Cost & Expenses | $91M |
| OPERATING INCOME | -$6M |
| Interest Income | $231.0K |
| Interest Expense | $16M |
| Other Income/Expenses | -$15M |
| INCOME BEFORE TAX | -$21M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | -$21M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$21M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$24M |
| D&A | $19M |
| EBIT | -$5M |
| EBITDA | $14M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | -$21M |
| Depreciation & Amortization | $16M |
| Stock-Based Compensation | $570.0K |
| Deferred Income Tax | $345.0K |
| Other Non-Cash Items | $17M |
| Change in Working Capital | -$5M |
| OPERATING CASH FLOW | $8M |
| Capital Expenditure | -$7M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $5M |
| NET CASH FROM INVESTING | -$2M |
| Net Debt Issuance | -$23M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$3M |
| NET CASH FROM FINANCING | -$29M |
| FREE CASH FLOW | $1M |
| Net Change in Cash | -$23M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $47M |
| Short-Term Investments | $0 |
| Net Receivables | $30M |
| Inventory | $0 |
| Other Current Assets | $58M |
| TOTAL CURRENT ASSETS | $135M |
| PP&E (Net) | $7M |
| Goodwill | $0 |
| Intangible Assets | $30M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $1.4B |
| TOTAL NON-CURRENT ASSETS | $1.6B |
| TOTAL ASSETS | $1.8B |
| Account Payables | $46M |
| Short-Term Debt | $338M |
| Deferred Revenue | $9M |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $397M |
| Long-Term Debt | $697M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $5M |
| TOTAL NON-CURRENT LIABILITIES | $710M |
| TOTAL LIABILITIES | $1.1B |
| Common Stock | $1M |
| Additional Paid-In Capital | $2.5B |
| Retained Earnings | -$1.9B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $9M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $647M |
| Minority Interest | $5M |
| TOTAL EQUITY | $652M |
| TOTAL LIABILITIES & EQUITY | $1.8B |
| Total Debt | $1.0B |
| Net Debt | $995M |
