| Metric | Q2 2025 | Q1 2025 | Q2 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $40M | $37M | $36M | 7.0% | 10.4% |
| Op. Income | -$45M | -$429M | -$176M | 89.5% | 74.5% |
| Gross Margin | 36.9% | -3.7% | 16.5% | 40.6pp | 20.4pp |
| Net Margin | -105.4% | -1146.8% | -481.3% | 1041.4pp | 375.8pp |
| EPS (Diluted) | $-0.14 | $-1.44 | $-0.64 | 90.3% | 78.1% |
| Free Cash Flow | -$30M | -$50M | -$56M | 40.7% | 46.3% |
| Item | Amount |
|---|---|
| REVENUE | $40M |
| Cost of Revenue | $25M |
| GROSS PROFIT | $15M |
| R&D Expenses | $23M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $36M |
| Other Expenses | $833.0K |
| Operating Expenses | $60M |
| Cost & Expenses | $85M |
| OPERATING INCOME | -$45M |
| Interest Income | $0 |
| Interest Expense | $2M |
| Other Income/Expenses | $3M |
| INCOME BEFORE TAX | -$42M |
| Income Tax Expense | $35.0K |
| Net Income from Continuing Ops | -$42M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$42M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$42M |
| D&A | $5M |
| EBIT | -$40M |
| EBITDA | -$36M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$42M |
| Depreciation & Amortization | $5M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $12M |
| Change in Working Capital | -$4M |
| OPERATING CASH FLOW | -$29M |
| Capital Expenditure | -$550.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$56M |
| Sales/Maturities of Investments | $82M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $25M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $0 |
| FREE CASH FLOW | -$30M |
| Net Change in Cash | -$4M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $55M |
| Short-Term Investments | $260M |
| Net Receivables | $32M |
| Inventory | $54M |
| Other Current Assets | $13M |
| TOTAL CURRENT ASSETS | $413M |
| PP&E (Net) | $67M |
| Goodwill | $318M |
| Intangible Assets | $17M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $11M |
| TOTAL NON-CURRENT ASSETS | $412M |
| TOTAL ASSETS | $825M |
| Account Payables | $15M |
| Short-Term Debt | $0 |
| Deferred Revenue | $15M |
| Other Current Liabilities | $3M |
| TOTAL CURRENT LIABILITIES | $60M |
| Long-Term Debt | $646M |
| Deferred Revenue NC | $6M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $0 |
| TOTAL NON-CURRENT LIABILITIES | $704M |
| TOTAL LIABILITIES | $764M |
| Common Stock | $300.0K |
| Additional Paid-In Capital | $2.7B |
| Retained Earnings | -$2.6B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $267.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $61M |
| Minority Interest | $0 |
| TOTAL EQUITY | $61M |
| TOTAL LIABILITIES & EQUITY | $825M |
| Total Debt | $699M |
| Net Debt | $644M |
