- Revenue: $732.4M, -16.9% YoY
- Net Income: $44.8M vs -$32.3M in Q1 2024
- Cash & Equivalents: $6.4B, +540% YoY
🌱Revenue & Growth
- US: $537.5M, -12.9% YoY
- Canada: $38.2M, -10.3% YoY
- Australia: $81.9M, +2.9% YoY
- Europe: $74.8M, -47.4% YoY
- Hardware & Accessories: $345.3M, -31.7% YoY
- Software: $175.6M, -26.7% YoY
- Collectibles: $211.5M, +54.6% YoY
💰Profits & Health
- Gross Margin: 34.5% vs 27.7% in Q1 2024
- Operating Margin: -1.5% vs -5.7% in Q1 2024
- Adjusted Net Income: $83.1M vs -$36.7M in Q1 2024
- Free Cash Flow: $189.6M vs -$114.7M in Q1 2024
- Adjusted EBITDA: $33.7M vs -$37.0M in Q1 2024
📌Business Highlights
- Divested Canada operations on May 04, 2025
- Purchased 4,710 Bitcoin post-quarter
- Reduced SG&A expenses to $228.1M, -22.7% YoY
- Incurred $35.5M impairment charges for international restructuring
- Capital expenditures: $2.9M, -40.8% YoY
🔮Future Outlook
- Focus on cost reduction and transformation initiatives
- Potential volatility from Bitcoin holdings
