Core Insights - Ionik Corporation reported record quarterly revenue of $53.5 million for Q2 2025, representing a 20% increase compared to Q2 2024 and a 28% increase over Q1 2025 [1][4] - The company achieved a record adjusted EBITDA of $9.3 million, which is a 58% increase from Q2 2024 and a 47% increase from Q1 2025 [1][4] - Ionik generated adjusted free cash flow of $7.3 million, with a conversion rate of 79%, up from $3.9 million and a 67% conversion rate in Q2 2024 [1][4] Financial Performance - Revenue growth was primarily driven by the acquisitions of Nimble5, LLC and Rise4 Inc. in 2024 [4] - Gross profit increased by 28% to $21.4 million, resulting in a gross profit margin of 40%, compared to 37% in Q2 2024 [4] - The net loss after tax from continuing operations was $2.8 million, compared to a net income of $0.1 million in Q2 2024 [4] Debt and Cash Position - Cash as of June 30, 2025, was $5.1 million, down from $12.7 million at the end of Q1 2025 [4] - Total undiscounted debt decreased by $5 million to $117.5 million, with senior lender debt at $79.7 million [4] - Senior debt net of cash was $74.6 million, compared to $71.4 million at the end of Q1 2025 [4] Management Commentary - The CEO of Ionik highlighted the company's strong performance in a dynamic market and emphasized the successful integration of its two platforms, which has improved service to customers and gross profit margins [5]