| Metric | Q2 2025 | Q1 2025 | Q2 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $51M | $44M | $54M | 16.0% | -4.9% |
| Op. Income | -$7M | -$12M | -$8M | 44.0% | 12.7% |
| Gross Margin | 17.2% | 14.8% | 17.0% | 2.5pp | 0.3pp |
| Net Margin | -21.6% | -19.3% | -13.0% | -2.3pp | -8.6pp |
| EPS (Diluted) | $-0.34 | $-0.26 | $-0.21 | -30.3% | -64.5% |
| Free Cash Flow | -$171.7K | -$32.0K | $5M | -436.5% | -103.7% |
| Item | Amount |
|---|---|
| REVENUE | $51M |
| Cost of Revenue | $42M |
| GROSS PROFIT | $9M |
| R&D Expenses | $0 |
| Selling & Marketing | $2M |
| General & Administrative | $6M |
| SG&A Expenses | $8M |
| Other Expenses | $8M |
| Operating Expenses | $16M |
| Cost & Expenses | $58M |
| OPERATING INCOME | -$7M |
| Interest Income | $143.6K |
| Interest Expense | $705.9K |
| Other Income/Expenses | -$4M |
| INCOME BEFORE TAX | -$11M |
| Income Tax Expense | $70.7K |
| Net Income from Continuing Ops | -$11M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$11M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$11M |
| D&A | $4M |
| EBIT | -$10M |
| EBITDA | -$6M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$11M |
| Depreciation & Amortization | $4M |
| Stock-Based Compensation | $109.4K |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $7M |
| Change in Working Capital | $0 |
| OPERATING CASH FLOW | -$171.7K |
| Capital Expenditure | $0 |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$5M |
| NET CASH FROM INVESTING | -$5M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $862.1K |
| NET CASH FROM FINANCING | $862.1K |
| FREE CASH FLOW | -$171.7K |
| Net Change in Cash | -$5M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $23M |
| Short-Term Investments | $0 |
| Net Receivables | $4M |
| Inventory | $5M |
| Other Current Assets | $29M |
| TOTAL CURRENT ASSETS | $60M |
| PP&E (Net) | $122M |
| Goodwill | $0 |
| Intangible Assets | $13M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $7M |
| TOTAL NON-CURRENT ASSETS | $142M |
| TOTAL ASSETS | $202M |
| Account Payables | $30M |
| Short-Term Debt | $135M |
| Deferred Revenue | $6M |
| Other Current Liabilities | $23M |
| TOTAL CURRENT LIABILITIES | $233M |
| Long-Term Debt | $63M |
| Deferred Revenue NC | $1M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $1M |
| TOTAL NON-CURRENT LIABILITIES | $110M |
| TOTAL LIABILITIES | $343M |
| Common Stock | $1.5K |
| Additional Paid-In Capital | $266M |
| Retained Earnings | -$409M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $2M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | -$142M |
| Minority Interest | $947.4K |
| TOTAL EQUITY | -$141M |
| TOTAL LIABILITIES & EQUITY | $202M |
| Total Debt | $269M |
| Net Debt | $246M |
