In what could be Yahoo’s last quarterly report as a publicly traded company, president and chief executive officer Marissa Mayer remained optimistic and on the defensive while sharing the results of the company’s ongoing changes.

For the second quarter ending June 30, Yahoo reported net losses of $440 million on revenue of $1.31 billion. The company also said the value of Tumblr had decreased and recorded $482 million in impairment charges tied to the business.

Mayer did not share any updates on the process of selling Yahoo’s core business, which she said was “making great progress.”

“While we have no announcement today,” she said, “I can say we’re deep into the process of evaluating proposals and alternatives and will update our shareholders as soon as it’s prudent.”

The poorly aging tech company has been faced with a bit of an identity crisis, so to that end, Mayer emphasized and reiterated what Yahoo is for users: search, mail and Tumblr. She also seemed to sell her vision for the company, whose ongoing “simplification” has included shuttering and folding a number of its digital magazines in addition to laying off employees.

Mayer said that headcount numbers were the lowest they had been in a decade, and that the company made $246 million from selling real estate in Santa Clara. She said that despite “challenges” facing the “large legacy business,” today’s Yahoo was far stronger and more modern than it had been. And, as she has done in the past, she made a point to rally and congratulate the (remaining) troops, saying that despite adversity, distraction and uncertainty throughout this quarter, those at Yahoo had showed resolve.

“Mavens” revenue —  meaning revenue for mobile, video, native and social advertising — was at $504 million, compared with $401 million in the same quarter of 2015. This made up 40 percent of traffic-driven revenue. Mobile revenue was $378 million, or 30 percent of traffic-driven revenue.

“I’m pleased that we crossed the first half of the year showing progress on our 2016 plan and the guidance we provided,” said chief financial officer Ken Goldman, who added that was due to a focus on revenue and expenditure management of cost and capital.

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