| Metric | Q3 2023 | Q2 2023 | Q3 2022 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $75M | $59M | $45M | 27.0% | 64.2% |
| Op. Income | -$32M | -$35M | -$80M | 7.3% | 60.2% |
| Gross Margin | 56.1% | 57.7% | 22.4% | -1.5pp | 33.7pp |
| Net Margin | -53.2% | -73.0% | -190.8% | 19.8pp | 137.6pp |
| EPS (Diluted) | $-0.41 | $-0.49 | $-1.19 | 16.3% | 65.5% |
| Free Cash Flow | -$54M | -$39M | -$38M | -39.2% | -44.6% |
| Item | Amount |
|---|---|
| REVENUE | $75M |
| Cost of Revenue | $33M |
| GROSS PROFIT | $42M |
| R&D Expenses | $26M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $48M |
| Other Expenses | $0 |
| Operating Expenses | $74M |
| Cost & Expenses | $107M |
| OPERATING INCOME | -$32M |
| Interest Income | $0 |
| Interest Expense | $10M |
| Other Income/Expenses | -$8M |
| INCOME BEFORE TAX | -$40M |
| Income Tax Expense | -$380.0K |
| Net Income from Continuing Ops | -$40M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$40M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$40M |
| D&A | $2M |
| EBIT | -$30M |
| EBITDA | -$28M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$40M |
| Depreciation & Amortization | $899.0K |
| Stock-Based Compensation | $10M |
| Deferred Income Tax | $874.0K |
| Other Non-Cash Items | $1M |
| Change in Working Capital | -$28M |
| OPERATING CASH FLOW | -$54M |
| Capital Expenditure | $0 |
| Acquisitions (Net) | $151.0K |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $43M |
| Other Investing Activities | $7M |
| NET CASH FROM INVESTING | $51M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$332.0K |
| NET CASH FROM FINANCING | $11M |
| FREE CASH FLOW | -$54M |
| Net Change in Cash | $7M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $81M |
| Short-Term Investments | $51M |
| Net Receivables | $217M |
| Inventory | $67M |
| Other Current Assets | $16M |
| TOTAL CURRENT ASSETS | $444M |
| PP&E (Net) | $6M |
| Goodwill | $943.0K |
| Intangible Assets | $46M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $87M |
| TOTAL NON-CURRENT ASSETS | $139M |
| TOTAL ASSETS | $584M |
| Account Payables | $37M |
| Short-Term Debt | $4M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $180M |
| TOTAL CURRENT LIABILITIES | $240M |
| Long-Term Debt | $473M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $4M |
| TOTAL NON-CURRENT LIABILITIES | $478M |
| TOTAL LIABILITIES | $717M |
| Common Stock | $11.0K |
| Additional Paid-In Capital | $1.4B |
| Retained Earnings | -$1.5B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$265.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | -$134M |
| Minority Interest | $0 |
| TOTAL EQUITY | -$134M |
| TOTAL LIABILITIES & EQUITY | $584M |
| Total Debt | $479M |
| Net Debt | $398M |
