| Metric | Q2 2025 | Q1 2025 | Q2 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $48M | -$82M | $29M | 158.5% | 66.1% |
| Op. Income | -$66.0K | -$134M | -$28M | 100.0% | 99.8% |
| Gross Margin | 30.9% | 142.9% | -26.3% | -112.0pp | 57.1pp |
| Net Margin | -0.1% | 163.2% | -96.0% | -163.3pp | 95.8pp |
| EPS (Diluted) | $-0.07 | $-0.38 | $-0.13 | 81.3% | 45.4% |
| Free Cash Flow | $279M | $174M | $79M | 60.3% | 250.7% |
| Item | Amount |
|---|---|
| REVENUE | $48M |
| Cost of Revenue | $33M |
| GROSS PROFIT | $15M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $10M |
| SG&A Expenses | $10M |
| Other Expenses | $5M |
| Operating Expenses | $15M |
| Cost & Expenses | $48M |
| OPERATING INCOME | -$66.0K |
| Interest Income | $169M |
| Interest Expense | $33M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | -$66.0K |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | -$66.0K |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$66.0K |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$31M |
| D&A | $0 |
| EBIT | -$66.0K |
| EBITDA | -$66.0K |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$66.0K |
| Depreciation & Amortization | $0 |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $346M |
| Change in Working Capital | -$68M |
| OPERATING CASH FLOW | $279M |
| Capital Expenditure | $0 |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $0 |
| Net Debt Issuance | -$216M |
| Common Stock Repurchased | -$508.0K |
| Common Dividends Paid | -$89M |
| Other Financing Activities | -$2M |
| NET CASH FROM FINANCING | -$276M |
| FREE CASH FLOW | $279M |
| Net Change in Cash | $3M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $58M |
| Short-Term Investments | $0 |
| Net Receivables | $0 |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $59M |
| PP&E (Net) | $0 |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $7.2B |
| TOTAL NON-CURRENT ASSETS | $7.2B |
| TOTAL ASSETS | $7.2B |
| Account Payables | $43M |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $102M |
| Long-Term Debt | $2.1B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $1.6B |
| TOTAL NON-CURRENT LIABILITIES | $3.7B |
| TOTAL LIABILITIES | $3.8B |
| Common Stock | $439.0K |
| Additional Paid-In Capital | $4.3B |
| Retained Earnings | -$828M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $3.4B |
| Minority Interest | $0 |
| TOTAL EQUITY | $3.4B |
| TOTAL LIABILITIES & EQUITY | $7.2B |
| Total Debt | $2.1B |
| Net Debt | $2.0B |
