| Metric | Q3 2023 | Q2 2023 | Q3 2022 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $35M | $55M | $33M | -36.5% | 4.2% |
| Op. Income | -$74M | -$75M | -$64M | 0.9% | -14.9% |
| Gross Margin | 95.1% | 97.1% | 93.7% | -2.0pp | 1.4pp |
| Net Margin | -185.0% | -122.2% | -199.4% | -62.8pp | 14.4pp |
| EPS (Diluted) | $-1.18 | $-1.25 | $-1.24 | 5.6% | 4.8% |
| Free Cash Flow | -$86M | -$89M | -$69M | 3.8% | -24.9% |
| Item | Amount |
|---|---|
| REVENUE | $35M |
| Cost of Revenue | $2M |
| GROSS PROFIT | $33M |
| R&D Expenses | $86M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $21M |
| Other Expenses | $0 |
| Operating Expenses | $107M |
| Cost & Expenses | $109M |
| OPERATING INCOME | -$74M |
| Interest Income | $10M |
| Interest Expense | $0 |
| Other Income/Expenses | $10M |
| INCOME BEFORE TAX | -$64M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | -$64M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$64M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$64M |
| D&A | $2M |
| EBIT | -$64M |
| EBITDA | -$62M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$64M |
| Depreciation & Amortization | $2M |
| Stock-Based Compensation | $17M |
| Deferred Income Tax | -$1M |
| Other Non-Cash Items | -$3M |
| Change in Working Capital | -$35M |
| OPERATING CASH FLOW | -$85M |
| Capital Expenditure | -$1M |
| Acquisitions (Net) | -$71M |
| Purchases of Investments | -$173M |
| Sales/Maturities of Investments | $245M |
| Other Investing Activities | $71M |
| NET CASH FROM INVESTING | $70M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $38M |
| FREE CASH FLOW | -$86M |
| Net Change in Cash | $23M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $114M |
| Short-Term Investments | $885M |
| Net Receivables | $21M |
| Inventory | $0 |
| Other Current Assets | $14M |
| TOTAL CURRENT ASSETS | $1.0B |
| PP&E (Net) | $16M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $10M |
| TOTAL NON-CURRENT ASSETS | $25M |
| TOTAL ASSETS | $1.1B |
| Account Payables | $34M |
| Short-Term Debt | $200.0K |
| Deferred Revenue | $224M |
| Other Current Liabilities | $17M |
| TOTAL CURRENT LIABILITIES | $317M |
| Long-Term Debt | $800.0K |
| Deferred Revenue NC | $282M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $0 |
| TOTAL NON-CURRENT LIABILITIES | $284M |
| TOTAL LIABILITIES | $601M |
| Common Stock | $100.0K |
| Additional Paid-In Capital | $1.6B |
| Retained Earnings | -$1.2B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$9M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $457M |
| Minority Interest | $0 |
| TOTAL EQUITY | $457M |
| TOTAL LIABILITIES & EQUITY | $1.1B |
| Total Debt | $4M |
| Net Debt | -$110M |
