Financial Performance Overview
- Revenue: $292.6 million (Q2 2025) vs. $288 million (Q2 2024), a 2% YoY increase. Sequentially, this marked a 13% increase from $258.5 million in Q1 2025.
- Gross Profit: Improved to $57.9 million with a gross margin ratio of 19.79%. This is a significant increase from the previous quarters due to effective cost management.
- Operating Income: $9.4 million in Q2 2025, indicating a notable improvement driven by operational efficiencies and reduced freight costs.
- Net Income: Reported a net loss of $1.6 million, compared to a loss of $18.3 million in Q2 2024, reflecting improved operational execution.
- EBITDA: Adjusted EBITDA reached $26.7 million, a sequential improvement of $16.9 million, driven by higher sales volumes.
- Working Capital: Current ratio at 2.75 indicates strong liquidity, while cash and cash equivalents declined to $97 million from $161.5 million, primarily due to elevated program launch activities.
- Debt Levels: Long-term debt stands at $361.9 million, with a debt-to-equity ratio of 0.501, indicating a moderate leverage level.
- Cash Flow: Negative operating cash flow of $48 million due to timing issues with accounts payable, restricting financial flexibility.