| Metric | Q2 2025 | Q1 2025 | Q2 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $239M | $667M | $415M | -64.1% | -42.4% |
| Op. Income | $106M | $516M | $161M | -79.5% | -34.4% |
| Gross Margin | 94.1% | 97.9% | 88.9% | -3.8pp | 5.2pp |
| Net Margin | 44.5% | 77.8% | 39.1% | -33.3pp | 5.4pp |
| EPS (Diluted) | $0.60 | $2.93 | $0.99 | -79.5% | -39.4% |
| Free Cash Flow | -$128M | -$187M | $311M | 31.7% | -141.0% |
| Item | Amount |
|---|---|
| REVENUE | $239M |
| Cost of Revenue | $14M |
| GROSS PROFIT | $225M |
| R&D Expenses | $78M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $41M |
| Other Expenses | $1M |
| Operating Expenses | $119M |
| Cost & Expenses | $134M |
| OPERATING INCOME | $106M |
| Interest Income | $0 |
| Interest Expense | $6M |
| Other Income/Expenses | $2M |
| INCOME BEFORE TAX | $107M |
| Income Tax Expense | $946.0K |
| Net Income from Continuing Ops | $107M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $107M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $107M |
| D&A | $8M |
| EBIT | $113M |
| EBITDA | $121M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| REVENUE | $239M |
| Cost of Revenue | $14M |
| GROSS PROFIT | $225M |
| R&D Expenses | $78M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $41M |
| Other Expenses | $1M |
| Operating Expenses | $119M |
| Cost & Expenses | $134M |
| OPERATING INCOME | $106M |
| Interest Income | $0 |
| Interest Expense | $6M |
| Other Income/Expenses | $2M |
| INCOME BEFORE TAX | $107M |
| Income Tax Expense | $946.0K |
| Net Income from Continuing Ops | $107M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $107M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $107M |
| D&A | $8M |
| EBIT | $113M |
| EBITDA | $121M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $107M |
| Depreciation & Amortization | $8M |
| Stock-Based Compensation | $9M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$10M |
| Change in Working Capital | -$240M |
| OPERATING CASH FLOW | -$127M |
| Capital Expenditure | -$247.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $112M |
| Other Investing Activities | -$280.0K |
| NET CASH FROM INVESTING | $111M |
| Net Debt Issuance | -$612.0K |
| Common Stock Repurchased | -$428.0K |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | -$1M |
| FREE CASH FLOW | -$128M |
| Net Change in Cash | -$9M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $254M |
| Short-Term Investments | $359M |
| Net Receivables | $226M |
| Inventory | $10M |
| Other Current Assets | $71M |
| TOTAL CURRENT ASSETS | $920M |
| PP&E (Net) | $283M |
| Goodwill | $113M |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $21M |
| TOTAL NON-CURRENT ASSETS | $417M |
| TOTAL ASSETS | $1.3B |
| Account Payables | $51M |
| Short-Term Debt | $0 |
| Deferred Revenue | $114M |
| Other Current Liabilities | $133M |
| TOTAL CURRENT LIABILITIES | $389M |
| Long-Term Debt | $171M |
| Deferred Revenue NC | $399M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $288M |
| TOTAL NON-CURRENT LIABILITIES | $910M |
| TOTAL LIABILITIES | $1.3B |
| Common Stock | $2M |
| Additional Paid-In Capital | $4.5B |
| Retained Earnings | -$4.4B |
| Treasury Stock | -$102M |
| Accum. Other Comp. Income | -$458.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $38M |
| Minority Interest | $0 |
| TOTAL EQUITY | $38M |
| TOTAL LIABILITIES & EQUITY | $1.3B |
| Total Debt | $228M |
| Net Debt | -$25M |
