| Metric | Q2 2025 | Q1 2025 | Q2 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $144M | $123M | $106M | 17.9% | 36.0% |
| Op. Income | -$60M | -$59M | -$43M | -0.8% | -37.8% |
| Gross Margin | 32.1% | 28.8% | 25.6% | 3.3pp | 6.5pp |
| Net Margin | -46.0% | -49.5% | -39.2% | 3.5pp | -6.8pp |
| EPS (Diluted) | $-0.13 | $-0.12 | $-0.08 | -8.3% | -54.4% |
| Free Cash Flow | -$55M | -$83M | -$28M | 33.3% | -95.0% |
| Item | Amount |
|---|---|
| REVENUE | $144M |
| Cost of Revenue | $98M |
| GROSS PROFIT | $46M |
| R&D Expenses | $66M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $40M |
| Other Expenses | $0 |
| Operating Expenses | $106M |
| Cost & Expenses | $204M |
| OPERATING INCOME | -$60M |
| Interest Income | $0 |
| Interest Expense | $2M |
| Other Income/Expenses | -$4M |
| INCOME BEFORE TAX | -$63M |
| Income Tax Expense | $3M |
| Net Income from Continuing Ops | -$66M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$66M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$66M |
| D&A | $9M |
| EBIT | -$61M |
| EBITDA | -$52M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$66M |
| Depreciation & Amortization | $9M |
| Stock-Based Compensation | $18M |
| Deferred Income Tax | $2M |
| Other Non-Cash Items | $4M |
| Change in Working Capital | $11M |
| OPERATING CASH FLOW | -$23M |
| Capital Expenditure | -$32M |
| Acquisitions (Net) | $128.0K |
| Purchases of Investments | -$45M |
| Sales/Maturities of Investments | $68M |
| Other Investing Activities | $1M |
| NET CASH FROM INVESTING | -$7M |
| Net Debt Issuance | -$8M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$5M |
| NET CASH FROM FINANCING | $291M |
| FREE CASH FLOW | -$55M |
| Net Change in Cash | $261M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $564M |
| Short-Term Investments | $124M |
| Net Receivables | $136M |
| Inventory | $130M |
| Other Current Assets | $9M |
| TOTAL CURRENT ASSETS | $1.0B |
| PP&E (Net) | $335M |
| Goodwill | $71M |
| Intangible Assets | $54M |
| Long-Term Investments | $61M |
| Tax Assets | $2M |
| Other Non-Current Assets | $24M |
| TOTAL NON-CURRENT ASSETS | $547M |
| TOTAL ASSETS | $1.6B |
| Account Payables | $71M |
| Short-Term Debt | $17M |
| Deferred Revenue | $223M |
| Other Current Liabilities | $18M |
| TOTAL CURRENT LIABILITIES | $376M |
| Long-Term Debt | $400M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $1M |
| Other Non-Current Liabilities | $5M |
| TOTAL NON-CURRENT LIABILITIES | $488M |
| TOTAL LIABILITIES | $865M |
| Common Stock | $48.0K |
| Additional Paid-In Capital | $1.6B |
| Retained Earnings | -$941M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $705.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $688M |
| Minority Interest | $0 |
| TOTAL EQUITY | $688M |
| TOTAL LIABILITIES & EQUITY | $1.6B |
| Total Debt | $498M |
| Net Debt | -$66M |
