| Metric | Q2 2025 | Q1 2025 | Q2 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $279M | $276M | $269M | 1.0% | 3.6% |
| Op. Income | $66M | $50M | $59M | 31.6% | 12.0% |
| Gross Margin | 46.4% | 50.2% | 47.2% | -3.9pp | -0.8pp |
| Net Margin | 7.7% | 8.0% | 3.9% | -0.3pp | 3.8pp |
| EPS (Diluted) | $2.40 | $2.50 | $1.33 | -4.0% | 80.5% |
| Free Cash Flow | -$652M | -$247M | -$118M | -164.4% | -453.2% |
| Item | Amount |
|---|---|
| REVENUE | $279M |
| Cost of Revenue | $150M |
| GROSS PROFIT | $129M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $32M |
| SG&A Expenses | $32M |
| Other Expenses | $31M |
| Operating Expenses | $63M |
| Cost & Expenses | $213M |
| OPERATING INCOME | $66M |
| Interest Income | $32M |
| Interest Expense | $0 |
| Other Income/Expenses | -$43M |
| INCOME BEFORE TAX | $23M |
| Income Tax Expense | $1M |
| Net Income from Continuing Ops | $22M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $22M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $21M |
| D&A | $1M |
| EBIT | $66M |
| EBITDA | $68M |
| EPS | $3 |
| EPS Diluted | $2 |
| Item | Amount |
|---|---|
| REVENUE | $279M |
| Cost of Revenue | $150M |
| GROSS PROFIT | $129M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $32M |
| SG&A Expenses | $32M |
| Other Expenses | $31M |
| Operating Expenses | $63M |
| Cost & Expenses | $213M |
| OPERATING INCOME | $66M |
| Interest Income | $32M |
| Interest Expense | $0 |
| Other Income/Expenses | -$43M |
| INCOME BEFORE TAX | $23M |
| Income Tax Expense | $1M |
| Net Income from Continuing Ops | $22M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $22M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $21M |
| D&A | $1M |
| EBIT | $66M |
| EBITDA | $68M |
| EPS | $3 |
| EPS Diluted | $2 |
| Item | Amount |
|---|---|
| Net Income | $22M |
| Depreciation & Amortization | $1M |
| Stock-Based Compensation | $2M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$688M |
| Change in Working Capital | $65M |
| OPERATING CASH FLOW | -$599M |
| Capital Expenditure | -$53M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$268M |
| Sales/Maturities of Investments | $777M |
| Other Investing Activities | $11M |
| NET CASH FROM INVESTING | $467M |
| Net Debt Issuance | $171M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$18M |
| NET CASH FROM FINANCING | $152M |
| FREE CASH FLOW | -$652M |
| Net Change in Cash | $20M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $194M |
| Short-Term Investments | $0 |
| Net Receivables | $12.7B |
| Inventory | $0 |
| Other Current Assets | $65M |
| TOTAL CURRENT ASSETS | $13.5B |
| PP&E (Net) | $10M |
| Goodwill | $0 |
| Intangible Assets | $2.6B |
| Long-Term Investments | $0 |
| Tax Assets | $4M |
| Other Non-Current Assets | $415M |
| TOTAL NON-CURRENT ASSETS | $3.1B |
| TOTAL ASSETS | $16.5B |
| Account Payables | $0 |
| Short-Term Debt | $56M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $221M |
| Long-Term Debt | $14.8B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $954M |
| TOTAL NON-CURRENT LIABILITIES | $15.8B |
| TOTAL LIABILITIES | $16.0B |
| Common Stock | $100.0K |
| Additional Paid-In Capital | $555M |
| Retained Earnings | -$74M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $1M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $532M |
| Minority Interest | $0 |
| TOTAL EQUITY | $532M |
| TOTAL LIABILITIES & EQUITY | $16.5B |
| Total Debt | $14.9B |
| Net Debt | $14.7B |
