Kodak faces financial struggles even as Gen Z sparks a film resurgence

Company Overview - Kodak is a 133-year-old photography company that has faced significant financial challenges, indicating "substantial doubt" about its ability to continue operations as a going concern [3][4] - The company reported a net loss of $26 million for the second quarter of 2025, a 200% decrease from a net income of $26 million in the same quarter of 2024 [3] - Kodak's gross profit decreased by 12%, and it has substantial debt obligations coming due within 12 months without committed financing or available liquidity to meet these obligations [3][4] Market Position - Despite Kodak's financial struggles, it remains a popular choice among Generation Z for film photography, with many users considering it a "household name" [2] - The average film user tends to reach for Kodak when selecting camera film, indicating a strong brand presence in the film market [2] Strategic Actions - Kodak plans to terminate its retirement pension plan and intends to use settlement funds to pay off its debts [4] - A company spokesperson expressed confidence in paying off a significant portion of its term loan before it becomes due and in amending or refinancing remaining debt obligations [5] Historical Context - Kodak has struggled to adapt to the digital photography era, which began to dominate the market in the 2000s, leading to its bankruptcy filing in 2012 [6][8] - After emerging from bankruptcy in 2013, Kodak restructured its business into four main components: print, advanced materials and chemicals, motion picture, and consumer products, which include cameras and accessories [8]