### Financial Metrics Analysis
- Revenue: Q2 2024 revenue stood at $636.3 million, representing a 4.33% decrease year-over-year and a substantial 14.31% drop from Q1 2024. This decline underscores challenges in market demand across various product lines.
- Gross Profit: Gross profit fell to $223.5 million, down 24.60% YoY, reflecting an erosion of the gross profit margin to 35.12% from 45.0% in prior periods.
- Operating Income: Operating losses widened to $30.3 million, indicating a negative operating income ratio of -4.76%. This highlights a pressing need for stringent cost management.
- Net Income: The net loss of $147.7 million exceeds previous losses and translates to an EPS of -$2.20.
Overall, the financial health indicators suggest a deteriorating position that necessitates urgent remedial action to realign expenses and revive revenues, particularly in light of increasing operational strain.