| Metric | Q2 2025 | Q1 2025 | Q2 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $547M | $502M | $413M | 8.9% | 32.2% |
| Op. Income | -$110M | -$79M | -$44M | -39.4% | -151.4% |
| Gross Margin | 63.5% | 63.2% | 58.8% | 0.3pp | 4.7pp |
| Net Margin | -18.5% | -13.3% | -9.1% | -5.1pp | -9.4pp |
| EPS (Diluted) | $-0.74 | $-0.50 | $-0.30 | -48.0% | -146.7% |
| Free Cash Flow | $12M | $23M | -$8M | -48.4% | 251.9% |
| Item | Amount |
|---|---|
| REVENUE | $547M |
| Cost of Revenue | $200M |
| GROSS PROFIT | $347M |
| R&D Expenses | $146M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $311M |
| Other Expenses | $465.0K |
| Operating Expenses | $457M |
| Cost & Expenses | $657M |
| OPERATING INCOME | -$110M |
| Interest Income | $11M |
| Interest Expense | $1M |
| Other Income/Expenses | $10M |
| INCOME BEFORE TAX | -$101M |
| Income Tax Expense | $275.0K |
| Net Income from Continuing Ops | -$101M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$101M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$101M |
| D&A | $10M |
| EBIT | -$100M |
| EBITDA | -$90M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$101M |
| Depreciation & Amortization | $10M |
| Stock-Based Compensation | $93M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $4M |
| Change in Working Capital | $31M |
| OPERATING CASH FLOW | $38M |
| Capital Expenditure | -$26M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $2M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$24M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $13M |
| FREE CASH FLOW | $12M |
| Net Change in Cash | $26M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $1.0B |
| Short-Term Investments | $16M |
| Net Receivables | $309M |
| Inventory | $54M |
| Other Current Assets | $52M |
| TOTAL CURRENT ASSETS | $1.4B |
| PP&E (Net) | $284M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $41M |
| TOTAL NON-CURRENT ASSETS | $325M |
| TOTAL ASSETS | $1.8B |
| Account Payables | $37M |
| Short-Term Debt | $80M |
| Deferred Revenue | $22M |
| Other Current Liabilities | $65M |
| TOTAL CURRENT LIABILITIES | $385M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $23M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $0 |
| TOTAL NON-CURRENT LIABILITIES | $126M |
| TOTAL LIABILITIES | $511M |
| Common Stock | $14.0K |
| Additional Paid-In Capital | $4.0B |
| Retained Earnings | -$2.7B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$287.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $1.2B |
| Minority Interest | $0 |
| TOTAL EQUITY | $1.2B |
| TOTAL LIABILITIES & EQUITY | $1.8B |
| Total Debt | $196M |
| Net Debt | -$804M |
