| Metric | Q2 2025 | Q1 2025 | Q2 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $634M | $623M | $331M | 1.9% | 91.6% |
| Op. Income | -$501M | -$460M | -$512M | -8.8% | 2.1% |
| Gross Margin | -41.1% | -35.2% | -62.7% | -5.9pp | 21.6pp |
| Net Margin | -122.3% | -108.4% | -216.2% | -13.9pp | 93.8pp |
| EPS (Diluted) | $-0.33 | $-0.29 | $-0.31 | -15.0% | -8.4% |
| Free Cash Flow | -$645M | -$715M | -$400M | 9.8% | -61.3% |
| Item | Amount |
|---|---|
| REVENUE | $634M |
| Cost of Revenue | $895M |
| GROSS PROFIT | -$261M |
| R&D Expenses | $89M |
| Selling & Marketing | $81M |
| General & Administrative | $49M |
| SG&A Expenses | $130M |
| Other Expenses | $21M |
| Operating Expenses | $240M |
| Cost & Expenses | $1.1B |
| OPERATING INCOME | -$501M |
| Interest Income | $2M |
| Interest Expense | $213M |
| Other Income/Expenses | -$267M |
| INCOME BEFORE TAX | -$768M |
| Income Tax Expense | $9M |
| Net Income from Continuing Ops | -$777M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$776M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$776M |
| D&A | $103M |
| EBIT | -$555M |
| EBITDA | -$451M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$777M |
| Depreciation & Amortization | $103M |
| Stock-Based Compensation | $364.1K |
| Deferred Income Tax | $9M |
| Other Non-Cash Items | $278M |
| Change in Working Capital | -$57M |
| OPERATING CASH FLOW | -$443M |
| Capital Expenditure | -$202M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$47M |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$43M |
| NET CASH FROM INVESTING | -$292M |
| Net Debt Issuance | $521M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $687M |
| NET CASH FROM FINANCING | $1.2B |
| FREE CASH FLOW | -$645M |
| Net Change in Cash | $472M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $526M |
| Short-Term Investments | $96M |
| Net Receivables | $840M |
| Inventory | $1.3B |
| Other Current Assets | $63M |
| TOTAL CURRENT ASSETS | $3.3B |
| PP&E (Net) | $3.4B |
| Goodwill | $0 |
| Intangible Assets | $39M |
| Long-Term Investments | $75M |
| Tax Assets | $0 |
| Other Non-Current Assets | $132M |
| TOTAL NON-CURRENT ASSETS | $3.6B |
| TOTAL ASSETS | $6.9B |
| Account Payables | $842M |
| Short-Term Debt | $1.2B |
| Deferred Revenue | $77M |
| Other Current Liabilities | $1.3B |
| TOTAL CURRENT LIABILITIES | $7.0B |
| Long-Term Debt | $1.7B |
| Deferred Revenue NC | $110M |
| Deferred Tax Liabilities | $45M |
| Other Non-Current Liabilities | $1.7B |
| TOTAL NON-CURRENT LIABILITIES | $3.7B |
| TOTAL LIABILITIES | $10.8B |
| Common Stock | $377M |
| Additional Paid-In Capital | $4.5B |
| Retained Earnings | -$11.7B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$28M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | -$6.9B |
| Minority Interest | $3.0B |
| TOTAL EQUITY | -$3.8B |
| TOTAL LIABILITIES & EQUITY | $6.9B |
| Total Debt | $3.2B |
| Net Debt | $2.6B |
