| Metric | Q2 2025 | Q1 2025 | Q2 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $340M | $356M | $419M | -4.5% | -18.9% |
| Op. Income | -$1M | -$15M | $28M | 91.1% | -104.7% |
| Gross Margin | 7.0% | 6.8% | 11.5% | 0.2pp | -4.6pp |
| Net Margin | -106.8% | -9.0% | 2.7% | -97.8pp | -109.5pp |
| EPS (Diluted) | $-5.44 | $-0.49 | $0.17 | -1010.2% | -3300.0% |
| Free Cash Flow | -$68M | $2M | $62M | -3312.2% | -208.9% |
| Item | Amount |
|---|---|
| REVENUE | $340M |
| Cost of Revenue | $316M |
| GROSS PROFIT | $24M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $18M |
| Other Expenses | $7M |
| Operating Expenses | $25M |
| Cost & Expenses | $341M |
| OPERATING INCOME | -$1M |
| Interest Income | $0 |
| Interest Expense | $24M |
| Other Income/Expenses | -$25M |
| INCOME BEFORE TAX | -$27M |
| Income Tax Expense | $339M |
| Net Income from Continuing Ops | -$366M |
| Net Income from Discontinued Ops | $3M |
| Other Adjustments | $0 |
| NET INCOME | -$363M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$363M |
| D&A | $31M |
| EBIT | -$2M |
| EBITDA | $29M |
| EPS | -$5 |
| EPS Diluted | -$5 |
| Item | Amount |
|---|---|
| Net Income | -$363M |
| Depreciation & Amortization | $31M |
| Stock-Based Compensation | $1M |
| Deferred Income Tax | $339M |
| Other Non-Cash Items | $5M |
| Change in Working Capital | -$43M |
| OPERATING CASH FLOW | -$30M |
| Capital Expenditure | -$37M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$37M |
| Net Debt Issuance | $2M |
| Common Stock Repurchased | -$180.0K |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $2M |
| FREE CASH FLOW | -$68M |
| Net Change in Cash | -$59M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $71M |
| Short-Term Investments | $0 |
| Net Receivables | $153M |
| Inventory | $233M |
| Other Current Assets | $82M |
| TOTAL CURRENT ASSETS | $540M |
| PP&E (Net) | $1.1B |
| Goodwill | $0 |
| Intangible Assets | $7M |
| Long-Term Investments | $0 |
| Tax Assets | $15M |
| Other Non-Current Assets | $122M |
| TOTAL NON-CURRENT ASSETS | $1.2B |
| TOTAL ASSETS | $1.8B |
| Account Payables | $190M |
| Short-Term Debt | $34M |
| Deferred Revenue | $6M |
| Other Current Liabilities | $115M |
| TOTAL CURRENT LIABILITIES | $372M |
| Long-Term Debt | $720M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $15M |
| Other Non-Current Liabilities | $272M |
| TOTAL NON-CURRENT LIABILITIES | $1.0B |
| TOTAL LIABILITIES | $1.4B |
| Common Stock | $670.0K |
| Additional Paid-In Capital | $426M |
| Retained Earnings | -$62M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$21M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $342M |
| Minority Interest | $13M |
| TOTAL EQUITY | $355M |
| TOTAL LIABILITIES & EQUITY | $1.8B |
| Total Debt | $775M |
| Net Debt | $705M |
