Capital expenditures were $0.2 million, in line with expectations.
Convertible notes outstanding are approximately $33 million, convertible at $1.60 per share, with the first payment due September 1, 2025.
MicroVision reported Q2 2025 revenues of $0.15 million, primarily driven by sales in the industrial verticals.
Raised approximately $35 million net from ATM during Q2, extending runway into 2027.
R&D and SG&A expenses for Q2 2025 were $14.1 million, including $3.4 million of noncash charges; cash expenses were $11 million, representing a 44% year-over-year reduction.
The company ended Q2 2025 with $91.4 million in cash and cash equivalents, plus $76.5 million available under the ATM facility and $30 million undrawn under the convertible note facility.
Cash, cash equivalents, and short-term investments totaled $416 million; days sales outstanding was 30 days; inventory days improved to 86 days from 94 days.
GAAP gross margin was 56.1%, non-GAAP gross margin was 56.3%, up 90 basis points sequentially and above guidance midpoint.
GAAP loss per share was $0.67; non-GAAP earnings per share was $0.11, beating guidance midpoint by $0.02.
GAAP operating loss was $23 million; non-GAAP operating income was $1 million.
Home & Life segment revenue was $83 million, up 2% sequentially and 45% year-over-year, led by medical customer ramps and smart home stabilization.
Industrial and Commercial segment revenue was $110 million, up 14% sequentially and 25% year-over-year, driven by electronic shelf labeling, smart meter rollouts, and broad industrial demand.
Silicon Labs reported Q2 revenue of $193 million, up 9% sequentially and 33% year-over-year, in line with guidance midpoint.
Adjusted EBITDA was $108 million, up 13% year-over-year, with a margin of 42%, above the high end of guidance.
Adjusted gross profit was $203 million with a margin of 78%, flat year-over-year but up from last quarter.
Adjusted operating expenses were $108 million, up 13% year-over-year including EvolutionIQ acquisition; excluding EvolutionIQ, expenses declined 1%.
CCC delivered strong Q2 2025 results with total revenue of $260.5 million, up 12% year-over-year, exceeding guidance.
Completed open market repurchase of 11 million shares for $100 million in Q2; year-to-date 18 million shares for $172 million repurchased.
Free cash flow was $27 million in Q2, down from $36 million prior year due to working capital timing and EvolutionIQ losses; trailing 12-month free cash flow was $226 million, up 15%.
Industry claim volumes declined 8% year-over-year, representing a 1 point headwind to growth, consistent with Q1.
Net leverage ended at 2.3x adjusted EBITDA with $55 million cash and $996 million debt.
Software gross dollar retention (GDR) was 99%, and net dollar retention (NDR) was 107%, both stable and including EvolutionIQ.
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 net income increased 6.3% to $264 million; diluted adjusted EPS rose 8% to $1.88.
Dividend increased 15% to $0.45 per share; $100 million accelerated share repurchase completed with $1.3 billion remaining capacity.
Net cash from operating activities increased 15.5% to $245 million; free cash flow rose 22.6% to $189 million.
Net income was $253 million, down 18% year-over-year, primarily due to a $102 million net gain in the prior year from disposed businesses and early debt extinguishment.
Net interest expense increased to $36 million from $29 million due to higher debt and interest rates; effective tax rate was 22.7%, up from 21.7% due to a prior year one-time tax benefit.
Net interest expense increased to $36 million from $29 million due to higher debt and interest rates; effective tax rate was 22.7% versus 21.7% prior year.
OCC adjusted EBITDA grew 9.7% with total adjusted EBITDA margins at 57.6%, up 220 basis points from prior year, including a 120 basis point FX benefit.
Organic constant currency (OCC) revenue grew 7.9%, with underwriting up 7.7% and claims up 8.3%.
Paid a cash dividend of $0.45 per share, a 15% increase year-over-year; completed a $100 million accelerated share repurchase program with $1.3 billion remaining capacity.
Second quarter 2025 consolidated GAAP revenue was $773 million, up 7.8% versus prior year, driven by strong growth in underwriting and claims.
Subscription revenues, comprising 82% of total revenue, grew 9.3% on an OCC basis, led by forms, rules and loss costs, extreme event solutions, and anti-fraud businesses.
Subscription revenues, comprising 82% of total revenue, grew 9.3% on an OCC basis, led by forms, rules, loss costs, extreme event solutions, and anti-fraud businesses.
Transactional revenues, 18% of total revenue, grew 1.8% on OCC basis, driven by international businesses and extreme events securitization, offset by softness in auto and sustainability businesses.
Transactional revenues, 18% of total revenue, grew 1.8% on OCC basis, supported by international businesses and securitization, offset by softness in auto and sustainability businesses.
Dafinchi