Adjusted free cash flow was $277 million, representing a margin over 16%, with a strong balance sheet holding $3.9 billion in cash and equivalents and $1.2 billion in debt.
Average selling price (ASP) per wafer declined high single-digit percentage year-over-year due to product mix, pricing adjustments, and reduced customer underutilization payments.
Cash flow from operations was $431 million; capital expenditures were $159 million (9% of revenue).
GlobalFoundries reported second quarter 2025 revenue of $1.688 billion, a 6% increase sequentially and 3% year-over-year.
Gross profit was $425 million, translating to a 25.2% gross margin, above the midpoint of guidance.
Net income was $234 million, up $23 million year-over-year, with diluted earnings per share of $0.42, exceeding the high end of guidance.
Operating expenses remained flat quarter-over-quarter at $167 million, with R&D at $125 million and SG&A at $42 million.
Operating profit was $258 million with a 15.3% operating margin, at the high end of guidance and 230 basis points above prior year.
The company shipped approximately 581,000 300-millimeter equivalent wafers, up 7% sequentially and 12% year-over-year.
Adjusted EBITDA margin was 21%, reflecting continued operating leverage from faster revenue growth and cost controls.
Cash balance stood at $1.7 billion with convertible debt at $2.2 billion, providing a flexible capital structure.
Create segment revenue was $154 million, up 2% year-over-year and sequentially, with double-digit subscription growth and 16% year-over-year growth excluding nonstrategic revenues.
Grow segment revenue was $287 million, down 4% year-over-year but up 1% sequentially, driven by strong performance from the Unity Ad Network powered by Vector.
Record free cash flow of $127 million was achieved, improving $47 million year-over-year, supported by strong profitability and timing of publisher payments.
Unity exceeded the top end of guidance in Q2 2025 with revenue surpassing expectations by $16 million and adjusted EBITDA by $15 million.
Adjusted EBITDA rose to $35.8 million from $32.6 million in the prior year quarter, despite a 300 basis point margin decline due to higher costs supporting XCOM RAN development.
Adjusted free cash flow for the first six months of 2025 was $77.9 million, up from $51.9 million in the prior year period.
Globalstar reported strong Q2 2025 financial results with total revenue increasing 11% to $67.1 million compared to $60.4 million in the prior year period.
Service revenue grew 10%, driven primarily by wholesale capacity services and increased service fees following network expansion.
The company ended the quarter with $308.2 million in cash on hand.
Adjusted EBITDA was negative $7.3 million, a decline of $8.3 million year-over-year.
Annual recurring revenue (ARR) increased 11% year-over-year to $56.9 million.
Cash balance stood at $105 million with no debt and $75 million in undrawn credit.
Gross profit totaled $12.7 million, down from $17.3 million in the prior year quarter, with SaaS gross margin at approximately 70%.
Hardware revenue declined 20% sequentially and 39% year-over-year to $15.1 million, reflecting the transition away from bulk hardware deals.
Hosted services revenue grew 1% sequentially and 5% year-over-year to $18.8 million, now representing nearly half of total revenue.
Net loss increased to $10.9 million from $4.6 million year-over-year, driven by lower hardware sales.
Operating expenses were $24.4 million, including $2 million in severance and legal expenses not present in the prior year.
Professional services revenue increased 10% sequentially to $4.3 million but was down 26% year-over-year.
SaaS revenue reached $14.2 million, comprising 37% of total revenue, up from 34% in Q1 and 26% year-over-year.
Total revenue for Q2 2025 was $38.3 million, down 7% sequentially and 21% year-over-year, primarily due to the strategic shift away from bulk hardware sales.
Dafinchi