Backlog And Demand2Q25 backlog declined quarter-over-quarter on 0.75x book-to-bill in 2Q25, leading to lowered 2025 revenue guidance.
Regulatory And Supply Chain ChallengesMacro uncertainty may slow demand and regulatory delays and supply chain constraints have limited the company’s ability to convert backlog to revenue in the past.
Revenue OutlookRevenue outlook was lowered due to timing delays in backlog deliveries caused by trade/tariff uncertainty, inflation, and labor constraints.