| Metric | Q2 2026 | Q1 2026 | Q2 2025 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $310M | $278M | $205M | 11.3% | 51.2% |
| Op. Income | -$94M | -$93M | -$168M | -1.5% | 43.9% |
| Gross Margin | 79.5% | 78.3% | 73.1% | 1.2pp | 6.4pp |
| Net Margin | -31.0% | -36.7% | -86.3% | 5.7pp | 55.4pp |
| EPS (Diluted) | $-0.49 | $-0.53 | $-0.98 | 7.5% | 50.2% |
| Free Cash Flow | $56M | $37M | -$32M | 53.1% | 276.1% |
| Item | Amount |
|---|---|
| REVENUE | $310M |
| Cost of Revenue | $64M |
| GROSS PROFIT | $246M |
| R&D Expenses | $92M |
| Selling & Marketing | $182M |
| General & Administrative | $67M |
| SG&A Expenses | $249M |
| Other Expenses | $0 |
| Operating Expenses | $341M |
| Cost & Expenses | $404M |
| OPERATING INCOME | -$94M |
| Interest Income | $12M |
| Interest Expense | $5M |
| Other Income/Expenses | $371.0K |
| INCOME BEFORE TAX | -$94M |
| Income Tax Expense | $2M |
| Net Income from Continuing Ops | -$96M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$96M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$96M |
| D&A | $8M |
| EBIT | -$89M |
| EBITDA | -$80M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$96M |
| Depreciation & Amortization | $8M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $121.0K |
| Other Non-Cash Items | $119M |
| Change in Working Capital | $32M |
| OPERATING CASH FLOW | $64M |
| Capital Expenditure | -$7M |
| Acquisitions (Net) | -$8M |
| Purchases of Investments | -$878M |
| Sales/Maturities of Investments | $157M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$736M |
| Net Debt Issuance | $712M |
| Common Stock Repurchased | $13M |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$92M |
| NET CASH FROM FINANCING | $713M |
| FREE CASH FLOW | $56M |
| Net Change in Cash | $39M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $323M |
| Short-Term Investments | $1.2B |
| Net Receivables | $217M |
| Inventory | $0 |
| Other Current Assets | $189M |
| TOTAL CURRENT ASSETS | $1.9B |
| PP&E (Net) | $58M |
| Goodwill | $195M |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $207M |
| TOTAL NON-CURRENT ASSETS | $460M |
| TOTAL ASSETS | $2.4B |
| Account Payables | $14M |
| Short-Term Debt | $0 |
| Deferred Revenue | $898M |
| Other Current Liabilities | $136M |
| TOTAL CURRENT LIABILITIES | $1.1B |
| Long-Term Debt | $1.1B |
| Deferred Revenue NC | $688M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $49M |
| TOTAL NON-CURRENT LIABILITIES | $1.9B |
| TOTAL LIABILITIES | $3.0B |
| Common Stock | $5.0K |
| Additional Paid-In Capital | $2.5B |
| Retained Earnings | -$3.0B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$3M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | -$564M |
| Minority Interest | $0 |
| TOTAL EQUITY | -$564M |
| TOTAL LIABILITIES & EQUITY | $2.4B |
| Total Debt | $1.2B |
| Net Debt | $845M |
