Revenue analysis:
- QQ2 2026 revenue: 7,077,592,000 USD. YoY growth shown in the data: 99,514.57% and QoQ growth: 112,097.50%. Note: the YoY QoQ figures appear to reflect a very low base in the prior year period and may be subject to base effects; reasonableness should be evaluated against the prior-year quarters in the 10-Q.
- Gross profit: 1,617,954,000 USD; gross margin 22.86% (grossProfitMargin 0.2286). YoY gross profit growth 79,910.03%; QoQ growth 143,170.01%.
- Operating income: -104,380,000 USD; operating margin -1.47% (operatingIncomeRatio -0.01475). YoY operating income growth: -31,447.23%; QoQ: -13,719.56%.
- Net income and earnings per share: net income -26,861,000 USD; net margin -0.38% (netIncomeRatio -0.0038); EPS -0.01 (EPSDiluted -0.01).
- EBITDA and margin: EBITDA 81,913,000 USD; EBITDA margin 1.16% (EBITDARatio 0.0116).
- Cash flow and liquidity: net cash provided by operating activities -1,372,484,976 USD; capex 17,299 USD; free cash flow -1,372,467,677 USD. Net change in cash +9,332,776,995 USD; cash at end of period 9,343,032,000 USD; cash at beginning 10,255,005 USD. Operating cash flow negative despite a positive EBITDA, highlighting working capital and non-cash adjustments.
- Balance sheet health: total assets 26,618,820,000 USD; total liabilities 3,764,693,000 USD; total stockholders’ equity 22,854,127,000 USD. Cash and equivalents 9,343,032,000 USD; accounts receivable 4,238,728,000 USD; inventory 7,636,238,000 USD. Total debt 2,048,321,000 USD; net debt -7,294,711,000 USD indicating a substantial net cash position. Current ratio ~10.25x (current assets 21,946,009,000 USD / current liabilities 2,141,179,000 USD).
Key takeaways for investors:
- The top-line is strong with a double-digit magnitude in gross profit, but operating profitability remains a work-in-progress because of SG&A and depreciation/ amortization loads.
- The company sits on a very strong balance sheet with ample liquidity and a sizable net cash position, which provides flexibility for strategic investments or consolidation, should management choose to pursue it.
- The near-term cash-flow picture is dominated by working-capital movements and non-cash charges; ongoing focus on cash-generation and SG&A discipline will be critical to convert EBITDA strength into sustained net income and free cash flow.