| Metric | Q2 2026 | Q1 2026 | Q2 2025 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $169M | $197M | — | -14.4% | — |
| Op. Income | -$158M | -$161M | — | 1.9% | — |
| Gross Margin | -46.5% | -39.2% | — | -7.3pp | — |
| Net Margin | -89.4% | -327.0% | — | 237.7pp | — |
| EPS (Diluted) | $-2.90 | $-12.36 | — | 76.5% | — |
| Free Cash Flow | -$73M | -$100M | — | 26.6% | — |
| Item | Amount |
|---|---|
| REVENUE | $169M |
| Cost of Revenue | $247M |
| GROSS PROFIT | -$78M |
| R&D Expenses | $25M |
| Selling & Marketing | $0 |
| General & Administrative | $29M |
| SG&A Expenses | $29M |
| Other Expenses | $26M |
| Operating Expenses | $80M |
| Cost & Expenses | $327M |
| OPERATING INCOME | -$158M |
| Interest Income | $10M |
| Interest Expense | $58M |
| Other Income/Expenses | $9M |
| INCOME BEFORE TAX | -$149M |
| Income Tax Expense | $1M |
| Net Income from Continuing Ops | -$151M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$151M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$151M |
| D&A | $37M |
| EBIT | -$91M |
| EBITDA | -$54M |
| EPS | -$3 |
| EPS Diluted | -$3 |
| Item | Amount |
|---|---|
| Net Income | -$151M |
| Depreciation & Amortization | $37M |
| Stock-Based Compensation | $8M |
| Deferred Income Tax | $1M |
| Other Non-Cash Items | -$22M |
| Change in Working Capital | $84M |
| OPERATING CASH FLOW | -$43M |
| Capital Expenditure | -$31M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$18M |
| Sales/Maturities of Investments | $110M |
| Other Investing Activities | $726M |
| NET CASH FROM INVESTING | $788M |
| Net Debt Issuance | -$193M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$5M |
| NET CASH FROM FINANCING | -$197M |
| FREE CASH FLOW | -$73M |
| Net Change in Cash | $548M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $548M |
| Short-Term Investments | $264M |
| Net Receivables | $218M |
| Inventory | $349M |
| Other Current Assets | $501M |
| TOTAL CURRENT ASSETS | $1.9B |
| PP&E (Net) | $868M |
| Goodwill | $0 |
| Intangible Assets | $427M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $218M |
| TOTAL NON-CURRENT ASSETS | $1.5B |
| TOTAL ASSETS | $3.4B |
| Account Payables | $34M |
| Short-Term Debt | $0 |
| Deferred Revenue | $77M |
| Other Current Liabilities | $56M |
| TOTAL CURRENT LIABILITIES | $297M |
| Long-Term Debt | $2.0B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $455M |
| TOTAL NON-CURRENT LIABILITIES | $2.5B |
| TOTAL LIABILITIES | $2.8B |
| Common Stock | $0 |
| Additional Paid-In Capital | $778M |
| Retained Earnings | -$151M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $400.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $627M |
| Minority Interest | $0 |
| TOTAL EQUITY | $627M |
| TOTAL LIABILITIES & EQUITY | $3.4B |
| Total Debt | $2.1B |
| Net Debt | $1.5B |
