| Metric | Q2 2025 | Q1 2025 | Q2 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $42M | $49M | $65M | -15.3% | -35.3% |
| Op. Income | $5M | $11M | $25M | -58.1% | -80.9% |
| Gross Margin | 18.4% | 28.7% | 44.2% | -10.3pp | -25.8pp |
| Net Margin | 7.7% | 18.5% | 30.5% | -10.8pp | -22.8pp |
| EPS (Diluted) | $1.33 | $3.72 | $7.77 | -64.2% | -82.9% |
| Free Cash Flow | -$2M | $4M | $7M | -165.0% | -133.1% |
| Item | Amount |
|---|---|
| REVENUE | $42M |
| Cost of Revenue | $34M |
| GROSS PROFIT | $8M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $3M |
| Other Expenses | $0 |
| Operating Expenses | $3M |
| Cost & Expenses | $37M |
| OPERATING INCOME | $5M |
| Interest Income | $170.0K |
| Interest Expense | $710.0K |
| Other Income/Expenses | -$540.0K |
| INCOME BEFORE TAX | $4M |
| Income Tax Expense | $952.0K |
| Net Income from Continuing Ops | $3M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $3M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $3M |
| D&A | $21M |
| EBIT | $5M |
| EBITDA | $26M |
| EPS | $2 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| REVENUE | $42M |
| Cost of Revenue | $34M |
| GROSS PROFIT | $8M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $3M |
| Other Expenses | $0 |
| Operating Expenses | $3M |
| Cost & Expenses | $37M |
| OPERATING INCOME | $5M |
| Interest Income | $170.0K |
| Interest Expense | $710.0K |
| Other Income/Expenses | -$540.0K |
| INCOME BEFORE TAX | $4M |
| Income Tax Expense | $952.0K |
| Net Income from Continuing Ops | $3M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $3M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $3M |
| D&A | $21M |
| EBIT | $5M |
| EBITDA | $26M |
| EPS | $2 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $3M |
| Depreciation & Amortization | $21M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $1M |
| Other Non-Cash Items | $0 |
| Change in Working Capital | -$34M |
| OPERATING CASH FLOW | -$8M |
| Capital Expenditure | $6M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $6M |
| Net Debt Issuance | $6M |
| Common Stock Repurchased | -$3M |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $3M |
| FREE CASH FLOW | -$2M |
| Net Change in Cash | $265.0K |
| Item | Amount |
|---|---|
| Cash & Equivalents | $2M |
| Short-Term Investments | $0 |
| Net Receivables | $29M |
| Inventory | $0 |
| Other Current Assets | $2M |
| TOTAL CURRENT ASSETS | $33M |
| PP&E (Net) | $296M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $14M |
| TOTAL NON-CURRENT ASSETS | $310M |
| TOTAL ASSETS | $343M |
| Account Payables | $8M |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $6M |
| TOTAL CURRENT LIABILITIES | $55M |
| Long-Term Debt | $12M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $57M |
| Other Non-Current Liabilities | $14M |
| TOTAL NON-CURRENT LIABILITIES | $82M |
| TOTAL LIABILITIES | $138M |
| Common Stock | $281.0K |
| Additional Paid-In Capital | $8M |
| Retained Earnings | $273M |
| Treasury Stock | -$76M |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $205M |
| Minority Interest | $0 |
| TOTAL EQUITY | $205M |
| TOTAL LIABILITIES & EQUITY | $343M |
| Total Debt | $16M |
| Net Debt | $14M |
