Financial Statements — RAYA
Balance Sheet
(in millions USD)| Metric | Q2
2025 | Q2
2024 | Q2
2023 |
|---|
| Cash & Equivalents | 0.42 | 1.10 | 7.27 |
| Accounts Receivable | 13.45 | 10.36 | 5.91 |
| Inventory | 8.91 | 9.60 | 6.85 |
| Total Current Assets | 35.90 | 29.42 | 22.09 |
| Property, Plant & Equipment | 3.94 | 2.26 | 1.80 |
| Intangible Assets | 2.60 | 0.04 | 0.01 |
| Total Non-current Assets* | 13.29 | 12.99 | 12.67 |
| Total Assets | 49.20 | 42.41 | 34.76 |
| Accounts Payable | 5.60 | 7.96 | 3.98 |
| Short-term Debt | 32.25 | 1.07 | 4.96 |
| Total Current Liabilities | 16.75 | 14.03 | 15.16 |
| Long-term Debt | 6.05 | 1.71 | 0.44 |
| Total Non-current Liabilities* | 6.05 | 1.71 | 0.44 |
| Total Liabilities | 22.80 | 15.74 | 15.60 |
| Retained Earnings | -- | 8.13 | -- |
| Total Stockholder Equity | 26.40 | 26.67 | 19.16 |
* Derived from reported values
Income Statement
(in millions USD) (except per-share rows)| Metric | Q2
2025 | Q2
2024 | Q2
2023 |
|---|
| Total Revenue | 8.74 | 11.94 | 9.45 |
| Cost of Revenue | 7.01 | 10.80 | 6.62 |
| Gross Profit | 1.74 | 1.15 | 2.83 |
| Research & Development | 0.78 | 0.83 | 0.48 |
| Selling, General & Admin | 1.26 | 1.15 | 1.17 |
| Total Operating Expenses | 2.37 | 2.44 | 2.17 |
| Operating Income | (0.63) | (1.29) | 0.66 |
| Interest Expense | -- | -- | 0.20 |
| Pretax Income | (0.52) | (1.10) | 0.57 |
| Tax Provision | (0.01) | (0.04) | 0.09 |
| Net Income | (0.52) | (1.06) | 0.48 |
| Basic EPS | (0.01) | (0.07) | 0.04 |
| Diluted EPS | -- | -- | 0.04 |
Cash Flow Statement
(in millions USD)| Metric | Q2
2025 | Q2
2024 | Q2
2023 |
|---|
| Operating Cash Flow | (0.78) | (12.86) | 5.45 |
| Capital Expenditures | 1.96 | 0.60 | -- |
| Free Cash Flow* | (2.75) | (13.46) | -- |
| Investing Cash Flow | (4.49) | (0.60) | (4.34) |
| Financing Cash Flow | 4.36 | 8.79 | (0.62) |
* Derived from reported values
