| Metric | Q1 2023 | Q4 2022 | Q1 2022 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $858M | $969M | $830M | -11.4% | 3.4% |
| Op. Income | -$2M | -$42M | -$83M | 95.0% | 97.5% |
| Gross Margin | 24.4% | 22.4% | 22.3% | 2.0pp | 2.1pp |
| Net Margin | -12.9% | -15.4% | -22.1% | 2.5pp | 9.1pp |
| EPS (Diluted) | $-1.40 | $-1.89 | $-2.33 | 25.9% | 39.9% |
| Free Cash Flow | -$102M | $56M | -$238M | -282.7% | 57.3% |
| Item | Amount |
|---|---|
| REVENUE | $858M |
| Cost of Revenue | $649M |
| GROSS PROFIT | $209M |
| R&D Expenses | $26M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $184M |
| Other Expenses | $1M |
| Operating Expenses | $211M |
| Cost & Expenses | $860M |
| OPERATING INCOME | -$2M |
| Interest Income | $2M |
| Interest Expense | $82M |
| Other Income/Expenses | -$88M |
| INCOME BEFORE TAX | -$90M |
| Income Tax Expense | $21M |
| Net Income from Continuing Ops | -$112M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$111M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$111M |
| D&A | $29M |
| EBIT | -$8M |
| EBITDA | $21M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$111M |
| Depreciation & Amortization | $29M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $3M |
| Other Non-Cash Items | $17M |
| Change in Working Capital | -$34M |
| OPERATING CASH FLOW | -$96M |
| Capital Expenditure | -$6M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$63M |
| Sales/Maturities of Investments | $72M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$2M |
| Net Debt Issuance | $23M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$2M |
| NET CASH FROM FINANCING | $21M |
| FREE CASH FLOW | -$102M |
| Net Change in Cash | -$73M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $246M |
| Short-Term Investments | $17M |
| Net Receivables | $627M |
| Inventory | $640M |
| Other Current Assets | $226M |
| TOTAL CURRENT ASSETS | $1.8B |
| PP&E (Net) | $120M |
| Goodwill | $702M |
| Intangible Assets | $245M |
| Long-Term Investments | $7M |
| Tax Assets | $0 |
| Other Non-Current Assets | $207M |
| TOTAL NON-CURRENT ASSETS | $1.3B |
| TOTAL ASSETS | $3.1B |
| Account Payables | $636M |
| Short-Term Debt | $84M |
| Deferred Revenue | $487M |
| Other Current Liabilities | $414M |
| TOTAL CURRENT LIABILITIES | $1.7B |
| Long-Term Debt | $2.6B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $101M |
| Other Non-Current Liabilities | $149M |
| TOTAL NON-CURRENT LIABILITIES | $2.8B |
| TOTAL LIABILITIES | $4.6B |
| Common Stock | $121M |
| Additional Paid-In Capital | $832M |
| Retained Earnings | -$1.5B |
| Treasury Stock | -$586M |
| Accum. Other Comp. Income | -$354M |
| Other Equity | $20M |
| TOTAL STOCKHOLDERS' EQUITY | -$1.5B |
| Minority Interest | $12M |
| TOTAL EQUITY | -$1.5B |
| TOTAL LIABILITIES & EQUITY | $3.1B |
| Total Debt | $2.7B |
| Net Debt | $2.4B |
