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![FreemyerGreg Avatar](https://lunarcrush.com/gi/w:24/cr:twitter::1396742700523786240.png) 🔋Greg🔋💎🤲 [@FreemyerGreg](/creator/twitter/FreemyerGreg) on x 1034 followers
Created: 2025-07-25 03:36:48 UTC

Jonathan, do you remember how Q3 and Q4 earnings sucked, and why?

$eose has ~150 million warrants they mark to market each quarter.

When the stock price goes up, the liability associated with those warrants goes up.

May 31: $XXXX SP
June 30: $XXXX SP

It is as simple as 150mm * ($5.12 - $3.78), but it is close.

That one aspect will be close to a $200mm GAAP earnings loss.  Then add on the actual operating loss for the quarter. 

Maybe $XXX million dollar GAAP earnings loss for Q2?

$eose GAAP earnings are meaningless.


XXX engagements

![Engagements Line Chart](https://lunarcrush.com/gi/w:600/p:tweet::1948588215964664101/c:line.svg)

**Related Topics**
[$200mm](/topic/$200mm)
[rating agency](/topic/rating-agency)
[greg](/topic/greg)
[$eose](/topic/$eose)
[stocks energy](/topic/stocks-energy)

[Post Link](https://x.com/FreemyerGreg/status/1948588215964664101)