| Metric | Q2 2023 | Q1 2023 | Q2 2022 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $922M | $858M | $852M | 7.5% | 8.3% |
| Op. Income | -$4M | -$2M | -$92M | -85.7% | 95.7% |
| Gross Margin | 24.4% | 24.4% | 18.9% | 0.0pp | 5.5pp |
| Net Margin | -73.4% | -12.9% | -23.4% | -60.5pp | -50.0pp |
| EPS (Diluted) | $-8.46 | $-1.40 | $-2.52 | -504.3% | -235.7% |
| Free Cash Flow | -$253M | -$102M | -$85M | -148.6% | -198.9% |
| Item | Amount |
|---|---|
| REVENUE | $922M |
| Cost of Revenue | $697M |
| GROSS PROFIT | $225M |
| R&D Expenses | $25M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $201M |
| Other Expenses | $3M |
| Operating Expenses | $229M |
| Cost & Expenses | $926M |
| OPERATING INCOME | -$4M |
| Interest Income | $3M |
| Interest Expense | $70M |
| Other Income/Expenses | -$698M |
| INCOME BEFORE TAX | -$702M |
| Income Tax Expense | -$25M |
| Net Income from Continuing Ops | -$677M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$677M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$677M |
| D&A | $31M |
| EBIT | -$632M |
| EBITDA | -$601M |
| EPS | -$8 |
| EPS Diluted | -$8 |
| Item | Amount |
|---|---|
| Net Income | -$677M |
| Depreciation & Amortization | $31M |
| Stock-Based Compensation | $800.0K |
| Deferred Income Tax | -$32M |
| Other Non-Cash Items | $644M |
| Change in Working Capital | -$208M |
| OPERATING CASH FLOW | -$242M |
| Capital Expenditure | -$11M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$53M |
| Sales/Maturities of Investments | $59M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$5M |
| Net Debt Issuance | -$612M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $1.2B |
| NET CASH FROM FINANCING | $542M |
| FREE CASH FLOW | -$253M |
| Net Change in Cash | $295M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $542M |
| Short-Term Investments | $11M |
| Net Receivables | $656M |
| Inventory | $648M |
| Other Current Assets | $233M |
| TOTAL CURRENT ASSETS | $2.1B |
| PP&E (Net) | $119M |
| Goodwill | $713M |
| Intangible Assets | $227M |
| Long-Term Investments | $7M |
| Tax Assets | $0 |
| Other Non-Current Assets | $203M |
| TOTAL NON-CURRENT ASSETS | $1.3B |
| TOTAL ASSETS | $3.4B |
| Account Payables | $504M |
| Short-Term Debt | $1.3B |
| Deferred Revenue | $834M |
| Other Current Liabilities | $358M |
| TOTAL CURRENT LIABILITIES | $3.1B |
| Long-Term Debt | $4M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $67M |
| Other Non-Current Liabilities | $2.4B |
| TOTAL NON-CURRENT LIABILITIES | $2.4B |
| TOTAL LIABILITIES | $5.5B |
| Common Stock | $121M |
| Additional Paid-In Capital | $832M |
| Retained Earnings | -$2.2B |
| Treasury Stock | -$586M |
| Accum. Other Comp. Income | -$328M |
| Other Equity | $20M |
| TOTAL STOCKHOLDERS' EQUITY | -$2.1B |
| Minority Interest | $5M |
| TOTAL EQUITY | -$2.1B |
| TOTAL LIABILITIES & EQUITY | $3.4B |
| Total Debt | $1.3B |
| Net Debt | $715M |
