Total revenue for the second quarter 2025 was $131.3 million compared to $235.6 million for the same period in 2024. Second quarter 2025 net loss was $24.6 million compared to net loss of $44.2 million for the same period in 2024.

Ron Fleming, CEO, said, “We continued to advance our turnaround plan in the second quarter of 2025. Our focus on operational performance resulted in increases in gross profit margins across all products and services compared to the prior year period, and our purposeful effort to streamline our footprint resulted in the successful sale of several non-core assets.

“These divestitures allowed us to reduce our total liabilities by over $200 million during the first half of the year, while our cash balance remained unchanged at June 30, 2025 compared to December 31, 2024.”

The company said it recognizes non-cash impairment charges of $7.7 million related to indefinite-lived intangible assets and assets held for sale during the second quarter 2025.

Second quarter 2025 adjusted EBITDA, a non-GAAP measure, was $(6.2) million compared to Adjusted EBITDA of $(9.4) million for the same period in 2024.* Net loss per diluted share for the second quarter 2025 was $6.67 compared to net loss per diluted share of $96.53 for the same period in 2024.

*Refer to the reconciliation of net income to Adjusted EBITDA under “Reconciliation of Non-GAAP Measures” in the company’s press release, which can be found here.

To read the full financial statement, please visit Yahoo! Finance.