Core Insights - Stoneridge, Inc. reported a record quarterly sales of $228.0 million for Q2 2025, with a gross profit of $48.9 million, representing 21.5% of sales, despite an operating loss of $(2.6) million [3][7] - The company announced significant new program awards totaling approximately $775 million in lifetime revenue, including the largest award in its history for the MirrorEye program, estimated at $535 million [5][8] - Stoneridge is reviewing strategic alternatives for its Control Devices business, potentially leading to a sale to maximize shareholder value [9][10] Financial Performance - Q2 2025 sales were $228.0 million, with a net loss of $(9.4) million and adjusted net loss of $(7.0) million, resulting in a loss per share of $(0.34) [3][7] - Adjusted EBITDA for Q2 2025 was $4.6 million, or 2.0% of sales, which would be $8.1 million or 3.5% of sales excluding non-operating foreign currency expenses [3][7] - The company maintained its full-year 2025 sales guidance of $860 million to $890 million, while updating adjusted EBITDA guidance to $34 million to $38 million [20][21] Business Segments - Electronics segment sales for Q2 2025 were $149.6 million, a 6.4% increase from Q1 2025, driven by higher MirrorEye sales and favorable foreign currency translation [11] - Control Devices segment sales increased by 1.9% to $71.2 million in Q2 2025, attributed to higher production volumes in the North American passenger vehicle market [12] - Stoneridge Brazil reported a 6.0% increase in sales to $15.3 million, driven by favorable foreign currency translation and higher aftermarket product sales [13][16] Strategic Initiatives - The company is focused on long-term strategies aligned with industry megatrends and advanced technologies, particularly in vision systems [6][10] - The review of strategic alternatives for the Control Devices segment aims to ensure that each part of the business has the necessary resources and focus to reach its full potential [10][27] - Stoneridge continues to emphasize cash performance and working capital management, achieving a net cash provided by operating activities of $10.7 million in Q2 2025 [17][19]