| Metric | Q2 2023 | Q1 2023 | Q2 2022 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $400M | $362M | $361M | 10.5% | 10.7% |
| Op. Income | -$360M | -$287M | -$196M | -25.1% | -83.2% |
| Gross Margin | 44.1% | 44.9% | 62.1% | -0.8pp | -18.0pp |
| Net Margin | -80.7% | -69.5% | -44.2% | -11.2pp | -36.5pp |
| EPS (Diluted) | $-1.10 | $-0.86 | $-0.57 | -27.9% | -93.0% |
| Free Cash Flow | -$63M | $20M | -$462M | -413.0% | 86.4% |
| Item | Amount |
|---|---|
| REVENUE | $400M |
| Cost of Revenue | $223M |
| GROSS PROFIT | $176M |
| R&D Expenses | $0 |
| Selling & Marketing | $188M |
| General & Administrative | $159M |
| SG&A Expenses | $347M |
| Other Expenses | $189M |
| Operating Expenses | $536M |
| Cost & Expenses | $759M |
| OPERATING INCOME | -$360M |
| Interest Income | $0 |
| Interest Expense | $44M |
| Other Income/Expenses | $36M |
| INCOME BEFORE TAX | -$324M |
| Income Tax Expense | -$2M |
| Net Income from Continuing Ops | -$322M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$322M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$322M |
| D&A | $23M |
| EBIT | -$280M |
| EBITDA | -$257M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$322M |
| Depreciation & Amortization | $23M |
| Stock-Based Compensation | $122M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $192M |
| Change in Working Capital | -$43M |
| OPERATING CASH FLOW | -$29M |
| Capital Expenditure | -$34M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$1M |
| Sales/Maturities of Investments | $334M |
| Other Investing Activities | -$991M |
| NET CASH FROM INVESTING | -$692M |
| Net Debt Issuance | $678M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$8M |
| NET CASH FROM FINANCING | $670M |
| FREE CASH FLOW | -$63M |
| Net Change in Cash | -$49M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $1.4B |
| Short-Term Investments | $915M |
| Net Receivables | $202M |
| Inventory | $0 |
| Other Current Assets | $3.9B |
| TOTAL CURRENT ASSETS | $6.5B |
| PP&E (Net) | $293M |
| Goodwill | $528M |
| Intangible Assets | $64M |
| Long-Term Investments | $43M |
| Tax Assets | $0 |
| Other Non-Current Assets | $352M |
| TOTAL NON-CURRENT ASSETS | $1.3B |
| TOTAL ASSETS | $7.8B |
| Account Payables | $29M |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $94M |
| Long-Term Debt | $5.0B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $110M |
| TOTAL NON-CURRENT LIABILITIES | $5.2B |
| TOTAL LIABILITIES | $5.3B |
| Common Stock | $3.0K |
| Additional Paid-In Capital | $4.7B |
| Retained Earnings | -$2.2B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$27M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $2.5B |
| Minority Interest | $0 |
| TOTAL EQUITY | $2.5B |
| TOTAL LIABILITIES & EQUITY | $7.8B |
| Total Debt | $5.1B |
| Net Debt | $3.7B |
