| Metric | Q3 2024 | Q2 2024 | Q3 2023 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $102M | $77M | $35M | 33.9% | 196.0% |
| Op. Income | -$60M | -$49M | -$74M | -24.3% | 18.4% |
| Gross Margin | 100.0% | 97.8% | 95.1% | 2.2pp | 4.9pp |
| Net Margin | -48.0% | -46.0% | -185.0% | -2.0pp | 136.9pp |
| EPS (Diluted) | $-0.68 | $-0.49 | $-1.18 | -38.8% | 42.4% |
| Free Cash Flow | -$129M | $50M | -$86M | -359.5% | -49.8% |
| Item | Amount |
|---|---|
| REVENUE | $102M |
| Cost of Revenue | $0 |
| GROSS PROFIT | $102M |
| R&D Expenses | $87M |
| Selling & Marketing | $0 |
| General & Administrative | $76M |
| SG&A Expenses | $76M |
| Other Expenses | $0 |
| Operating Expenses | $163M |
| Cost & Expenses | $163M |
| OPERATING INCOME | -$60M |
| Interest Income | $14M |
| Interest Expense | $0 |
| Other Income/Expenses | $12M |
| INCOME BEFORE TAX | -$49M |
| Income Tax Expense | $600.0K |
| Net Income from Continuing Ops | -$49M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$49M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$49M |
| D&A | $1M |
| EBIT | -$60M |
| EBITDA | -$59M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$49M |
| Depreciation & Amortization | $2M |
| Stock-Based Compensation | $25M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$1M |
| Change in Working Capital | -$104M |
| OPERATING CASH FLOW | -$128M |
| Capital Expenditure | -$700.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$160M |
| Sales/Maturities of Investments | $212M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $51M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $2M |
| NET CASH FROM FINANCING | $2M |
| FREE CASH FLOW | -$129M |
| Net Change in Cash | -$75M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $85M |
| Short-Term Investments | $1.0B |
| Net Receivables | $15M |
| Inventory | $0 |
| Other Current Assets | $13M |
| TOTAL CURRENT ASSETS | $1.1B |
| PP&E (Net) | $8M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $10M |
| TOTAL NON-CURRENT ASSETS | $18M |
| TOTAL ASSETS | $1.2B |
| Account Payables | $18M |
| Short-Term Debt | $0 |
| Deferred Revenue | $199M |
| Other Current Liabilities | $20M |
| TOTAL CURRENT LIABILITIES | $276M |
| Long-Term Debt | $600.0K |
| Deferred Revenue NC | $305M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $0 |
| TOTAL NON-CURRENT LIABILITIES | $305M |
| TOTAL LIABILITIES | $581M |
| Common Stock | $100.0K |
| Additional Paid-In Capital | $2.1B |
| Retained Earnings | -$1.5B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $4M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $586M |
| Minority Interest | $0 |
| TOTAL EQUITY | $586M |
| TOTAL LIABILITIES & EQUITY | $1.2B |
| Total Debt | $2M |
| Net Debt | -$84M |
