| Metric | Q2 2025 | Q1 2025 | Q2 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $289M | $219M | $265M | 31.9% | 9.1% |
| Op. Income | -$115M | -$103M | -$160M | -12.4% | 27.9% |
| Gross Margin | 11.1% | 8.0% | -4.1% | 3.1pp | 15.2pp |
| Net Margin | -43.1% | -44.9% | -49.3% | 1.8pp | 6.2pp |
| EPS (Diluted) | $-2.15 | $-1.70 | $-2.31 | -26.5% | 6.9% |
| Free Cash Flow | -$9M | $24M | -$77M | -138.2% | 88.2% |
| Item | Amount |
|---|---|
| REVENUE | $289M |
| Cost of Revenue | $257M |
| GROSS PROFIT | $32M |
| R&D Expenses | $53M |
| Selling & Marketing | $29M |
| General & Administrative | $20M |
| SG&A Expenses | $49M |
| Other Expenses | $46M |
| Operating Expenses | $148M |
| Cost & Expenses | $405M |
| OPERATING INCOME | -$115M |
| Interest Income | $0 |
| Interest Expense | $3M |
| Other Income/Expenses | -$4M |
| INCOME BEFORE TAX | -$119M |
| Income Tax Expense | $6M |
| Net Income from Continuing Ops | -$125M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$125M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$125M |
| D&A | $4M |
| EBIT | -$69M |
| EBITDA | -$65M |
| EPS | -$2 |
| EPS Diluted | -$2 |
| Item | Amount |
|---|---|
| Net Income | -$125M |
| Depreciation & Amortization | $4M |
| Stock-Based Compensation | $19M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $57M |
| Change in Working Capital | $36M |
| OPERATING CASH FLOW | -$8M |
| Capital Expenditure | -$1M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $53M |
| Other Investing Activities | $16M |
| NET CASH FROM INVESTING | $69M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$373.0K |
| NET CASH FROM FINANCING | -$373.0K |
| FREE CASH FLOW | -$9M |
| Net Change in Cash | $67M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $545M |
| Short-Term Investments | $213M |
| Net Receivables | $309M |
| Inventory | $529M |
| Other Current Assets | $353M |
| TOTAL CURRENT ASSETS | $2.0B |
| PP&E (Net) | $372M |
| Goodwill | $51M |
| Intangible Assets | $8M |
| Long-Term Investments | $46M |
| Tax Assets | $0 |
| Other Non-Current Assets | $41M |
| TOTAL NON-CURRENT ASSETS | $519M |
| TOTAL ASSETS | $2.5B |
| Account Payables | $179M |
| Short-Term Debt | $342M |
| Deferred Revenue | $37M |
| Other Current Liabilities | $131M |
| TOTAL CURRENT LIABILITIES | $1.0B |
| Long-Term Debt | $331M |
| Deferred Revenue NC | $249M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $308M |
| TOTAL NON-CURRENT LIABILITIES | $960M |
| TOTAL LIABILITIES | $2.0B |
| Common Stock | $6.0K |
| Additional Paid-In Capital | $1.8B |
| Retained Earnings | -$1.3B |
| Treasury Stock | -$16M |
| Accum. Other Comp. Income | -$58M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $513M |
| Minority Interest | $0 |
| TOTAL EQUITY | $513M |
| TOTAL LIABILITIES & EQUITY | $2.5B |
| Total Debt | $760M |
| Net Debt | $214M |
