| Metric | Q1 2019 | Q4 2018 | Q1 2018 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $244M | $353M | $310M | -31.0% | -21.5% |
| Op. Income | $326M | $88M | $380M | 268.9% | -14.2% |
| Gross Margin | 96.3% | 96.2% | 96.0% | 0.1pp | 0.3pp |
| Net Margin | 48.5% | -29.1% | 77.0% | 77.6pp | -28.6pp |
| EPS (Diluted) | $1.61 | $-1.87 | $3.66 | 186.1% | -56.0% |
| Free Cash Flow | -$62M | -$192M | $198M | 67.6% | -131.3% |
| Item | Amount |
|---|---|
| REVENUE | $244M |
| Cost of Revenue | $9M |
| GROSS PROFIT | $235M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $0 |
| Operating Expenses | $0 |
| Cost & Expenses | -$82M |
| OPERATING INCOME | $326M |
| Interest Income | $0 |
| Interest Expense | $0 |
| Other Income/Expenses | -$208M |
| INCOME BEFORE TAX | $118M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | $118M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $118M |
| Net Income Deductions | -$17M |
| BOTTOM LINE NET INCOME | $118M |
| D&A | $0 |
| EBIT | $326M |
| EBITDA | $326M |
| EPS | $2 |
| EPS Diluted | $2 |
| Item | Amount |
|---|---|
| REVENUE | $244M |
| Cost of Revenue | $9M |
| GROSS PROFIT | $235M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $0 |
| Operating Expenses | $0 |
| Cost & Expenses | -$82M |
| OPERATING INCOME | $326M |
| Interest Income | $0 |
| Interest Expense | $0 |
| Other Income/Expenses | -$208M |
| INCOME BEFORE TAX | $118M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | $118M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $118M |
| Net Income Deductions | -$17M |
| BOTTOM LINE NET INCOME | $118M |
| D&A | $0 |
| EBIT | $326M |
| EBITDA | $326M |
| EPS | $2 |
| EPS Diluted | $2 |
| Item | Amount |
|---|---|
| Net Income | $118M |
| Depreciation & Amortization | $0 |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$211M |
| Change in Working Capital | $31M |
| OPERATING CASH FLOW | -$62M |
| Capital Expenditure | $0 |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$1.5B |
| Sales/Maturities of Investments | $390M |
| Other Investing Activities | $221M |
| NET CASH FROM INVESTING | -$881M |
| Net Debt Issuance | $933M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $1.0B |
| FREE CASH FLOW | -$62M |
| Net Change in Cash | $75M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $123M |
| Short-Term Investments | $0 |
| Net Receivables | $1.5B |
| Inventory | $0 |
| Other Current Assets | -$1.7B |
| TOTAL CURRENT ASSETS | $0 |
| PP&E (Net) | $0 |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $0 |
| TOTAL NON-CURRENT ASSETS | $0 |
| TOTAL ASSETS | $29.3B |
| Account Payables | $0 |
| Short-Term Debt | $16.5B |
| Deferred Revenue | $0 |
| Other Current Liabilities | $1.8B |
| TOTAL CURRENT LIABILITIES | $18.3B |
| Long-Term Debt | $7.1B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | -$7.1B |
| TOTAL NON-CURRENT LIABILITIES | $0 |
| TOTAL LIABILITIES | $25.4B |
| Common Stock | $2M |
| Additional Paid-In Capital | $3.3B |
| Retained Earnings | -$990M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $673M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $4.0B |
| Minority Interest | $0 |
| TOTAL EQUITY | $4.0B |
| TOTAL LIABILITIES & EQUITY | $29.3B |
| Total Debt | $23.6B |
| Net Debt | $23.5B |
