| Metric | Q2 2024 | Q1 2024 | Q2 2023 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $77M | $25M | $55M | 202.4% | 40.4% |
| Op. Income | -$49M | -$83M | -$75M | 41.8% | 35.0% |
| Gross Margin | 97.8% | 93.3% | 97.1% | 4.5pp | 0.7pp |
| Net Margin | -46.0% | -274.3% | -122.2% | 228.3pp | 76.2pp |
| EPS (Diluted) | $-0.49 | $-0.97 | $-1.25 | 49.5% | 60.8% |
| Free Cash Flow | $50M | -$98M | -$89M | 150.8% | 155.5% |
| Item | Amount |
|---|---|
| REVENUE | $77M |
| Cost of Revenue | $2M |
| GROSS PROFIT | $75M |
| R&D Expenses | $94M |
| Selling & Marketing | -$2M |
| General & Administrative | $31M |
| SG&A Expenses | $30M |
| Other Expenses | $0 |
| Operating Expenses | $123M |
| Cost & Expenses | $125M |
| OPERATING INCOME | -$49M |
| Interest Income | $14M |
| Interest Expense | $0 |
| Other Income/Expenses | $14M |
| INCOME BEFORE TAX | -$35M |
| Income Tax Expense | $200.0K |
| Net Income from Continuing Ops | -$35M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$35M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$35M |
| D&A | $2M |
| EBIT | -$49M |
| EBITDA | -$47M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$35M |
| Depreciation & Amortization | $2M |
| Stock-Based Compensation | $22M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$4M |
| Change in Working Capital | $67M |
| OPERATING CASH FLOW | $50M |
| Capital Expenditure | -$700.0K |
| Acquisitions (Net) | $100.0K |
| Purchases of Investments | -$193M |
| Sales/Maturities of Investments | $206M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $13M |
| Net Debt Issuance | -$100.0K |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $3M |
| FREE CASH FLOW | $50M |
| Net Change in Cash | $67M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $155M |
| Short-Term Investments | $1.1B |
| Net Receivables | $10M |
| Inventory | $0 |
| Other Current Assets | $18M |
| TOTAL CURRENT ASSETS | $1.3B |
| PP&E (Net) | $11M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $12M |
| TOTAL NON-CURRENT ASSETS | $23M |
| TOTAL ASSETS | $1.3B |
| Account Payables | $23M |
| Short-Term Debt | $0 |
| Deferred Revenue | $268M |
| Other Current Liabilities | $16M |
| TOTAL CURRENT LIABILITIES | $347M |
| Long-Term Debt | $700.0K |
| Deferred Revenue NC | $331M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $100.0K |
| TOTAL NON-CURRENT LIABILITIES | $332M |
| TOTAL LIABILITIES | $680M |
| Common Stock | $0 |
| Additional Paid-In Capital | $2.0B |
| Retained Earnings | -$1.4B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$4M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $600M |
| Minority Interest | $0 |
| TOTAL EQUITY | $600M |
| TOTAL LIABILITIES & EQUITY | $1.3B |
| Total Debt | $2M |
| Net Debt | -$153M |
