Total Revenue

+47.6% (from US$687.9 million in Q2 2024 to US$1,016.0 million in Q2 2025)

Strong revenue growth was primarily driven by the performance in key segments—especially North America Solutions generating US$599.7 million (nearly 60% of the total)—which indicates effective market expansion and strategic execution compared to the previous period. " " "

Operating Income

-62% (from US$110.57 million in Q2 2024 to US$42.16 million in Q2 2025)

Despite the surge in revenue, operating income declined sharply likely due to increasing operating expenses and margin compression, reflecting cost pressures and adverse shifts in operational efficiency compared to the stronger performance in Q2 2024. " "

Net Income

-96.5% (from US$84.83 million in Q2 2024 to US$2.99 million in Q2 2025)

Net income dropped dramatically, with EPS falling from US$0.84 to US$0.01, a change that appears to stem from lower profitability margins, higher non-cash charges, and possibly select item adjustments that adversely affected the bottom line relative to the previous quarter. " "

Depreciation & Amortization

+51% (from US$104.55 million in Q2 2024 to US$157.66 million in Q2 2025)

The significant increase in non-cash expenses suggests that asset additions or changes in depreciation practices are at play, adversely impacting operating margins even as cash flows remain uninfluenced, marking a stark contrast with prior period levels. " "

Net Cash Provided by Operating Activities

Decreased (from US$143.72 million in Q2 2024 to US$56.05 million in Q2 2025)

The decline in operating cash flow is driven by a much lower net income and unfavorable working capital adjustments (e.g., changes in receivables and payables), reflecting difficulties in converting the robust revenue growth into operating cash, unlike in Q2 2024. " "

Cash and Cash Equivalents

Declined (ending at US$174.76 million in Q2 2025)

Cash reserves fell possibly due to increased capital deployment for investments, debt servicing, or as a consequence of the lower operating cash flow, though the specific drivers were not detailed, especially when compared with previous balance sheet levels. "