Eastman Kodak(KODK) - 2025 Q1 - Quarterly Results

Financial Performance - Consolidated revenues for Q1 2025 were $247 million, a decrease of $2 million or 1% compared to Q1 2024[2] - Gross profit for Q1 2025 was $46 million, down $3 million or 6% from Q1 2024, with a gross profit percentage of 19%[2] - GAAP net loss for Q1 2025 was $7 million, a decrease of $39 million or 122% compared to net income of $32 million in Q1 2024[4] - Operational EBITDA for Q1 2025 was $2 million, a decrease of $2 million or 50% from Q1 2024[4] - Total revenues for Q1 2025 were $247 million, a slight decrease of $2 million or 0.8% from $249 million in Q1 2024[22] - Operational EBITDA for Q1 2025 was $2 million, down $2 million or 50% from $4 million in Q1 2024[20] - Basic net (loss) earnings per share for Q1 2025 was $(0.12), compared to $0.31 in Q1 2024[22] Cash and Assets - Cash balance at the end of Q1 2025 was $158 million, down $43 million from $201 million on December 31, 2024[5] - Cash and cash equivalents decreased to $158 million in Q1 2025 from $201 million at the end of 2024, a decline of $43 million or 21.4%[24] - Total current assets decreased to $577 million in Q1 2025 from $595 million at the end of 2024, a decrease of $18 million or 3%[24] - The company reported a net cash used in operating activities of $(38) million for Q1 2025, compared to $17 million provided in Q1 2024[26] Revenue Segments - Revenue from the Advanced Materials & Chemicals segment was $74 million in Q1 2025, an increase of $15 million or 25% compared to Q1 2024[7] - Revenue from the Print segment was $165 million in Q1 2025, a decrease of $17 million or 9% compared to Q1 2024[7] Operational Challenges - Kodak's operational challenges include higher aluminum and manufacturing costs, impacting profitability[4] - Inventories increased by $15 million in Q1 2025, remaining consistent with the increase of $15 million in Q1 2024[26] Strategic Initiatives - Kodak is investing in a new cGMP manufacturing facility to expand its pharma business into FDA-regulated diagnostic test reagents[1] - The company plans to optimize business processes and continue investing in growth initiatives for the remainder of the year[6] Liabilities and Pension - Total liabilities increased to $1,154 million in Q1 2025 from $1,142 million at the end of 2024, an increase of $12 million or 1%[24] - The company experienced a pension income excluding service cost component of $(22) million in Q1 2025, an improvement of $19 million from $(41) million in Q1 2024[20]