What changed
Revenue was $496M, down from $546M in Q2 last year. Net loss was $-9M versus a $-6M loss a year ago. Gross margin expanded 150 bps to 18.6%, driven by stronger equipment margins from reduced aged inventory and a higher mix of parts and service revenue.
Why it matters
Revenue was $496M, down from $546M in Q2 last year. Net loss was $-9M versus a $-6M loss a year ago. Gross margin expanded 150 bps to 18.6%, driven by stronger equipment margins from reduced aged inventory and a higher mix of parts and service revenue.