| Metric | Q1 2025 | Q4 2024 | Q1 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $711M | $564M | $345M | 26.1% | 106.0% |
| Op. Income | -$548M | -$674M | -$232M | 18.8% | -136.5% |
| Gross Margin | 1.4% | -75.2% | -8.9% | 76.7pp | 10.4pp |
| Net Margin | -83.9% | -133.8% | -79.4% | 50.0pp | -4.4pp |
| EPS (Diluted) | $-8.40 | $-10.80 | $-3.90 | 22.2% | -115.4% |
| Free Cash Flow | -$293M | -$443M | -$229M | 33.9% | -27.8% |
| Item | Amount |
|---|---|
| REVENUE | $711M |
| Cost of Revenue | $701M |
| GROSS PROFIT | $10M |
| R&D Expenses | $16M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $216M |
| Other Expenses | $327M |
| Operating Expenses | $558M |
| Cost & Expenses | $1.3B |
| OPERATING INCOME | -$548M |
| Interest Income | $0 |
| Interest Expense | $37M |
| Other Income/Expenses | -$70M |
| INCOME BEFORE TAX | -$618M |
| Income Tax Expense | $1M |
| Net Income from Continuing Ops | -$619M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$597M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$597M |
| D&A | $2M |
| EBIT | -$204M |
| EBITDA | -$202M |
| EPS | -$8 |
| EPS Diluted | -$8 |
| Item | Amount |
|---|---|
| Net Income | -$597M |
| Depreciation & Amortization | $16M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $234M |
| Change in Working Capital | $98M |
| OPERATING CASH FLOW | -$249M |
| Capital Expenditure | -$44M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$117M |
| NET CASH FROM INVESTING | -$161M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $344M |
| NET CASH FROM FINANCING | $344M |
| FREE CASH FLOW | -$293M |
| Net Change in Cash | $0 |
| Item | Amount |
|---|---|
| Cash & Equivalents | $719M |
| Short-Term Investments | $0 |
| Net Receivables | $336M |
| Inventory | $806M |
| Other Current Assets | $353M |
| TOTAL CURRENT ASSETS | $2.2B |
| PP&E (Net) | $424M |
| Goodwill | $0 |
| Intangible Assets | $838M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $167M |
| TOTAL NON-CURRENT ASSETS | $1.4B |
| TOTAL ASSETS | $3.6B |
| Account Payables | $758M |
| Short-Term Debt | $3.2B |
| Deferred Revenue | $0 |
| Other Current Liabilities | $946M |
| TOTAL CURRENT LIABILITIES | $5.2B |
| Long-Term Debt | $2.4B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $273M |
| TOTAL NON-CURRENT LIABILITIES | $2.7B |
| TOTAL LIABILITIES | $7.9B |
| Common Stock | $21M |
| Additional Paid-In Capital | $3.8B |
| Retained Earnings | -$8.1B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$28M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | -$4.3B |
| Minority Interest | $0 |
| TOTAL EQUITY | -$4.3B |
| TOTAL LIABILITIES & EQUITY | $3.6B |
| Total Debt | $5.6B |
| Net Debt | $4.9B |
