| Metric | Q2 2025 | Q1 2025 | Q2 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $179M | $1.2B | $187M | -84.8% | -4.2% |
| Op. Income | -$35M | $970M | -$40M | -103.6% | 13.1% |
| Gross Margin | 93.6% | 98.9% | 91.7% | -5.3pp | 1.9pp |
| Net Margin | -36.3% | 73.7% | -53.1% | -109.9pp | 16.9pp |
| EPS (Diluted) | $-0.83 | $10.04 | $-1.29 | -108.3% | 35.7% |
| Free Cash Flow | -$62M | $868M | -$64M | -107.2% | 2.7% |
| Item | Amount |
|---|---|
| REVENUE | $179M |
| Cost of Revenue | $11M |
| GROSS PROFIT | $167M |
| R&D Expenses | $113M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $85M |
| Other Expenses | $4M |
| Operating Expenses | $202M |
| Cost & Expenses | $214M |
| OPERATING INCOME | -$35M |
| Interest Income | $0 |
| Interest Expense | $30M |
| Other Income/Expenses | -$36M |
| INCOME BEFORE TAX | -$71M |
| Income Tax Expense | -$6M |
| Net Income from Continuing Ops | -$65M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$65M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$65M |
| D&A | $8M |
| EBIT | -$41M |
| EBITDA | -$33M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$65M |
| Depreciation & Amortization | $8M |
| Stock-Based Compensation | $19M |
| Deferred Income Tax | -$2.0K |
| Other Non-Cash Items | -$3M |
| Change in Working Capital | -$17M |
| OPERATING CASH FLOW | -$58M |
| Capital Expenditure | -$4M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$537M |
| Sales/Maturities of Investments | $119M |
| Other Investing Activities | -$3M |
| NET CASH FROM INVESTING | -$422M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $4M |
| NET CASH FROM FINANCING | $4M |
| FREE CASH FLOW | -$62M |
| Net Change in Cash | -$463M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $1.0B |
| Short-Term Investments | $972M |
| Net Receivables | $196M |
| Inventory | $34M |
| Other Current Assets | $54M |
| TOTAL CURRENT ASSETS | $2.3B |
| PP&E (Net) | $113M |
| Goodwill | $82M |
| Intangible Assets | $144M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $22M |
| TOTAL NON-CURRENT ASSETS | $361M |
| TOTAL ASSETS | $2.6B |
| Account Payables | $27M |
| Short-Term Debt | $0 |
| Deferred Revenue | $10M |
| Other Current Liabilities | $359M |
| TOTAL CURRENT LIABILITIES | $628M |
| Long-Term Debt | $286M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $1.8B |
| TOTAL NON-CURRENT LIABILITIES | $2.2B |
| TOTAL LIABILITIES | $2.8B |
| Common Stock | $78.0K |
| Additional Paid-In Capital | $2.6B |
| Retained Earnings | -$2.8B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $7M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | -$207M |
| Minority Interest | $0 |
| TOTAL EQUITY | -$207M |
| TOTAL LIABILITIES & EQUITY | $2.6B |
| Total Debt | $388M |
| Net Debt | -$629M |
