Revenue increased by 18.03% to $1.046 billion compared to the previous quarter, yet it represents a -2.55% year-over-year decline.
Gross profit improved significantly to $445.3 million, reflecting strategic cost management initiatives, giving a gross profit margin of 42.55%.
Operating income saw a striking increase of 123.27% year-over-year, reaching $9.675 million, though net income remains negative, with -$17.435 million reported this quarter.
EPS stood at -$0.18, a drastic -4,286.05% drop from the earnings reported in Q2 2024.
Current liabilities are at $1.333 billion, with a current ratio of 1.89, indicating solid short-term financial health. Cash at the end of the period was $1.096 billion, showing a slight increase in liquidity.
Research and Development expenses were $201 million, signifying an ongoing commitment to innovation in the face of competitive pressures.