| Metric | Q2 2023 | Q1 2023 | Q2 2022 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $319M | $319M | $225M | -0.2% | 41.8% |
| Op. Income | -$230M | -$150M | -$192M | -53.4% | -19.9% |
| Gross Margin | 73.2% | 82.8% | 81.8% | -9.6pp | -8.6pp |
| Net Margin | -86.6% | -54.5% | -123.4% | -32.1pp | 36.8pp |
| EPS (Diluted) | $-2.21 | $-1.40 | $-2.29 | -57.9% | 3.5% |
| Free Cash Flow | -$75M | -$180M | -$139M | 58.5% | 46.1% |
| Item | Amount |
|---|---|
| REVENUE | $319M |
| Cost of Revenue | $85M |
| GROSS PROFIT | $233M |
| R&D Expenses | $249M |
| Selling & Marketing | $0 |
| General & Administrative | $215M |
| SG&A Expenses | $215M |
| Other Expenses | $0 |
| Operating Expenses | $463M |
| Cost & Expenses | $549M |
| OPERATING INCOME | -$230M |
| Interest Income | $21M |
| Interest Expense | $30M |
| Other Income/Expenses | -$44M |
| INCOME BEFORE TAX | -$274M |
| Income Tax Expense | $2M |
| Net Income from Continuing Ops | -$276M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$276M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$276M |
| D&A | $13M |
| EBIT | -$244M |
| EBITDA | -$231M |
| EPS | -$2 |
| EPS Diluted | -$2 |
| Item | Amount |
|---|---|
| Net Income | -$276M |
| Depreciation & Amortization | $23M |
| Stock-Based Compensation | $76M |
| Deferred Income Tax | $29M |
| Other Non-Cash Items | $24M |
| Change in Working Capital | $65M |
| OPERATING CASH FLOW | -$59M |
| Capital Expenditure | -$16M |
| Acquisitions (Net) | -$7M |
| Purchases of Investments | -$377M |
| Sales/Maturities of Investments | $384M |
| Other Investing Activities | $7M |
| NET CASH FROM INVESTING | -$9M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $4M |
| NET CASH FROM FINANCING | $53M |
| FREE CASH FLOW | -$75M |
| Net Change in Cash | -$14M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $658M |
| Short-Term Investments | $1.4B |
| Net Receivables | $221M |
| Inventory | $100M |
| Other Current Assets | $145M |
| TOTAL CURRENT ASSETS | $2.5B |
| PP&E (Net) | $736M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $142M |
| TOTAL NON-CURRENT ASSETS | $878M |
| TOTAL ASSETS | $3.4B |
| Account Payables | $60M |
| Short-Term Debt | $0 |
| Deferred Revenue | $55M |
| Other Current Liabilities | $34M |
| TOTAL CURRENT LIABILITIES | $789M |
| Long-Term Debt | $1.0B |
| Deferred Revenue NC | $194M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $1.6B |
| TOTAL NON-CURRENT LIABILITIES | $3.0B |
| TOTAL LIABILITIES | $3.8B |
| Common Stock | $1M |
| Additional Paid-In Capital | $6.6B |
| Retained Earnings | -$7.0B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$37M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | -$408M |
| Minority Interest | $0 |
| TOTAL EQUITY | -$408M |
| TOTAL LIABILITIES & EQUITY | $3.4B |
| Total Debt | $1.3B |
| Net Debt | $657M |
