Revenue and profitability snapshot (QQ2 2026):
- Revenue: -97,197,000; YoY change: -198.14%; QoQ change: -200.00% (per incomeMetrics)
- Gross Profit: -30,230,000; Gross Profit Margin reported as 31.10% in the data (grossProfitRatio 0.3110) but tied to a negative top-line result; note the inconsistency implies data quality caveats but the gross profit is materially negative in the quarter.
- EBITDA: 22,453,000; EBITDA margin implied by EBITDARatio -0.2310 (i.e., -23.1%), though this is given alongside a negative revenue base, limiting interpretability of traditional margin analysis in this quarter.
- Operating Income: -13,283,000; Operating Income Margin reported as 0.1367 in the data but the absolute figure is negative, signaling a mismatch between the reported metric and the sign of the cash-generating operation.
- Total Other Income/Expenses Net: 31,427,000; Income Before Tax: 18,144,000; Income Tax Expense: 4,990,000; Net Income: 13,154,000; Net Income Margin and EPS per share appear inconsistent with the other line items (net income is positive while the net income ratio shown is negative), suggesting one-off/non-operating items are driving the bottom line.
- Earnings Per Share (EPS, diluted): -0.37 to -0.38 (as reported), despite positive net income, further underscoring the data-quality caveats in this quarter’s presentation.
Interpretation and takeaways:
- The quarter is dominated by non-operating gains that mask a deteriorating core operating performance. The negative revenue base and negative operating income imply that the business segmentation or accounting recognition in this quarter may reflect unusual items or one-off adjustments rather than a durable improvement in demand or pricing.
- The sizable positive pre-tax income driven by other income/expenses requires scrutiny of what constitutes the non-operating items (e.g., gains from non-core activities, fair value adjustments, or one-time items). Without explicit disclosure, the sustainability of these items is uncertain.
- The YoY/QoQ revenue and gross profit declines indicate that, absent meaningful non-operating uplift, the underlying business health may be deteriorating. The market should watch for any explicit management commentary clarifying the nature of the non-operating income and the trajectory of core operations in upcoming quarters.