| Metric | Q2 2025 | Q1 2025 | Q2 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $248M | $199M | $229M | 24.9% | 8.5% |
| Op. Income | $12M | -$6M | $11M | 301.6% | 8.5% |
| Gross Margin | 27.5% | 23.8% | 27.8% | 3.7pp | -0.3pp |
| Net Margin | -1.7% | -15.0% | -1.2% | 13.2pp | -0.5pp |
| EPS (Diluted) | $-0.95 | $-6.61 | $-0.63 | 85.6% | -50.8% |
| Free Cash Flow | -$6M | -$30M | -$9M | 79.2% | 31.2% |
| Item | Amount |
|---|---|
| REVENUE | $248M |
| Cost of Revenue | $180M |
| GROSS PROFIT | $68M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $56M |
| Operating Expenses | $56M |
| Cost & Expenses | $236M |
| OPERATING INCOME | $12M |
| Interest Income | $0 |
| Interest Expense | $12M |
| Other Income/Expenses | -$15M |
| INCOME BEFORE TAX | -$3M |
| Income Tax Expense | $983.0K |
| Net Income from Continuing Ops | -$4M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$4M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$4M |
| D&A | $9M |
| EBIT | $12M |
| EBITDA | $21M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$4M |
| Depreciation & Amortization | $9M |
| Stock-Based Compensation | $366.0K |
| Deferred Income Tax | -$360.0K |
| Other Non-Cash Items | $9M |
| Change in Working Capital | -$16M |
| OPERATING CASH FLOW | -$3M |
| Capital Expenditure | -$3M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$3M |
| Net Debt Issuance | $12M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$2M |
| NET CASH FROM FINANCING | $10M |
| FREE CASH FLOW | -$6M |
| Net Change in Cash | $4M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $21M |
| Short-Term Investments | $0 |
| Net Receivables | $247M |
| Inventory | $42M |
| Other Current Assets | $3M |
| TOTAL CURRENT ASSETS | $326M |
| PP&E (Net) | $156M |
| Goodwill | $0 |
| Intangible Assets | $44M |
| Long-Term Investments | $0 |
| Tax Assets | $2M |
| Other Non-Current Assets | $20M |
| TOTAL NON-CURRENT ASSETS | $222M |
| TOTAL ASSETS | $548M |
| Account Payables | $43M |
| Short-Term Debt | $4M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $62M |
| TOTAL CURRENT LIABILITIES | $166M |
| Long-Term Debt | $366M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $5M |
| Other Non-Current Liabilities | $3M |
| TOTAL NON-CURRENT LIABILITIES | $405M |
| TOTAL LIABILITIES | $571M |
| Common Stock | $1M |
| Additional Paid-In Capital | $460M |
| Retained Earnings | -$450M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$35M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | -$23M |
| Minority Interest | $0 |
| TOTAL EQUITY | -$23M |
| TOTAL LIABILITIES & EQUITY | $548M |
| Total Debt | $417M |
| Net Debt | $396M |
