Revenue: As of FY2025 Q2, the actual value is USD 44.03 M.

EPS: As of FY2025 Q2, the actual value is USD -0.1.

Segment Revenue

• Revenue: $44.0 million, a decrease of 15.5% year-over-year, but an increase of 1.1% compared to Q1 2025.

Operational Metrics

• Net Loss: - $3.6 million, compared to a net loss of $10.1 million in the same period last year.
• Adjusted EBITDA: - $0.9 million, compared to $1.1 million in the same period last year.
• Gross Margin: 55.4%, an improvement of 150 basis points compared to 53.9% in the second quarter of 2024.
• Operating Expenses: $27.9 million, down 20.3% compared to $35.0 million.

Cash Flow

• Operating Cash Flow: $1.0 million.
• Total Cash Flow: $0.4 million.
• Ending Cash, Cash Equivalents & Restricted Cash: $14.0 million as of June 30, 2025, compared to $24.3 million as of December 31, 2024.
• Outstanding Debt: $7.5 million ABL as of June 30, 2025, unchanged from December 31, 2024.

Unique Metrics

• Interest Expense: Down 90% in 2025 compared to 2024, freeing up capital.
• Gross Debt Outstanding: Term debt fully repaid in Q4 2022, with only $7.5 million ABL facility remaining.

Outlook / Guidance

• Revenue is expected to improve in the third quarter, leading to slight year-over-year growth in the fourth quarter.
• Full-year 2025 revenue is expected to decline approximately mid-single-digit to low-double-digit percentage points year-over-year.
• Full-year 2025 Adjusted EBITDA is now expected to be negative low single digit millions to breakeven.