Financial Performance & Outlook - Q2 2025 revenue reached $4.8 million USD, a 43% increase year-over-year[11] - Q2 2025 gross margins were 67%, a 2% increase year-over-year[11] - H1 2025 revenue increased by 26% compared to H1 2024[11] - The company anticipates revenue between 150 million and 190 million DKK for 2025, with gross margins between 69% and 71%[60] Market & Business Development - Advanced Network Cards are the future, with 92% of demand from Hyperscale operators[21] - The mass market will represent 37% of demand, creating a $6 billion mass market SAM in 2028[21] - The company has nearly 200 opportunities in the pipeline, valued at over $400 million USD, with over 80% in new business and markets[33] - Current design wins are expected to contribute 60,000-80,000 units in peak production[33] Cash Flow & Working Capital - Net cash flow from operating activities in Q2 was negative 18.6 million DKK[55] - Free cash flow in Q2 was negative 21.2 million DKK, an improvement of 23.4 million DKK compared to Q2 2024[56] - Cash and cash equivalents totaled 133.4 million DKK at the end of Q2 2025[56]