| Metric | Q1 2024 | Q4 2023 | Q1 2023 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $494M | $440M | $319M | 12.4% | 54.8% |
| Op. Income | -$43M | -$116M | -$150M | 62.7% | 71.0% |
| Gross Margin | 86.7% | 80.5% | 82.8% | 6.2pp | 3.8pp |
| Net Margin | -13.3% | -31.4% | -54.5% | 18.0pp | 41.2pp |
| EPS (Diluted) | $-0.52 | $-1.10 | $-1.40 | 52.7% | 62.9% |
| Free Cash Flow | -$94M | -$45M | -$180M | -109.5% | 47.6% |
| Item | Amount |
|---|---|
| REVENUE | $494M |
| Cost of Revenue | $66M |
| GROSS PROFIT | $428M |
| R&D Expenses | $261M |
| Selling & Marketing | $0 |
| General & Administrative | $211M |
| SG&A Expenses | $211M |
| Other Expenses | $0 |
| Operating Expenses | $472M |
| Cost & Expenses | $538M |
| OPERATING INCOME | -$43M |
| Interest Income | $30M |
| Interest Expense | $35M |
| Other Income/Expenses | -$20M |
| INCOME BEFORE TAX | -$64M |
| Income Tax Expense | $2M |
| Net Income from Continuing Ops | -$66M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$66M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$66M |
| D&A | $14M |
| EBIT | -$28M |
| EBITDA | -$15M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$66M |
| Depreciation & Amortization | $14M |
| Stock-Based Compensation | $45M |
| Deferred Income Tax | $454.0K |
| Other Non-Cash Items | $46M |
| Change in Working Capital | -$121M |
| OPERATING CASH FLOW | -$82M |
| Capital Expenditure | -$13M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$460M |
| Sales/Maturities of Investments | $405M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$68M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $3M |
| NET CASH FROM FINANCING | $29M |
| FREE CASH FLOW | -$94M |
| Net Change in Cash | -$131M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $682M |
| Short-Term Investments | $1.7B |
| Net Receivables | $321M |
| Inventory | $94M |
| Other Current Assets | $202M |
| TOTAL CURRENT ASSETS | $3.0B |
| PP&E (Net) | $719M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $117M |
| TOTAL NON-CURRENT ASSETS | $836M |
| TOTAL ASSETS | $3.8B |
| Account Payables | $78M |
| Short-Term Debt | $46M |
| Deferred Revenue | $77M |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $942M |
| Long-Term Debt | $2.4B |
| Deferred Revenue NC | $186M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $320M |
| TOTAL NON-CURRENT LIABILITIES | $3.1B |
| TOTAL LIABILITIES | $4.0B |
| Common Stock | $1M |
| Additional Paid-In Capital | $6.9B |
| Retained Earnings | -$7.1B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$27M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | -$219M |
| Minority Interest | $0 |
| TOTAL EQUITY | -$219M |
| TOTAL LIABILITIES & EQUITY | $3.8B |
| Total Debt | $2.7B |
| Net Debt | $2.0B |
