| Metric | Q2 2023 | Q1 2023 | Q2 2022 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $49M | $42M | $37M | 18.3% | 32.8% |
| Op. Income | -$15M | -$12M | -$21M | -25.6% | 29.2% |
| Gross Margin | 70.2% | 70.9% | 57.4% | -0.7pp | 12.8pp |
| Net Margin | -36.8% | -35.5% | -63.2% | -1.3pp | 26.4pp |
| EPS (Diluted) | $-0.32 | $-0.26 | $-0.42 | -23.1% | 23.8% |
| Free Cash Flow | -$13M | -$21M | -$21M | 36.9% | 37.4% |
| Item | Amount |
|---|---|
| REVENUE | $49M |
| Cost of Revenue | $15M |
| GROSS PROFIT | $35M |
| R&D Expenses | $6M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $41M |
| Other Expenses | $3M |
| Operating Expenses | $50M |
| Cost & Expenses | $64M |
| OPERATING INCOME | -$15M |
| Interest Income | $164.0K |
| Interest Expense | $3M |
| Other Income/Expenses | -$3M |
| INCOME BEFORE TAX | -$18M |
| Income Tax Expense | $23.0K |
| Net Income from Continuing Ops | -$18M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$18M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$18M |
| D&A | $1M |
| EBIT | -$15M |
| EBITDA | -$13M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$18M |
| Depreciation & Amortization | $1M |
| Stock-Based Compensation | $4M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $2M |
| Change in Working Capital | -$3M |
| OPERATING CASH FLOW | -$13M |
| Capital Expenditure | -$8.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$216.0K |
| Net Debt Issuance | $25M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$1M |
| NET CASH FROM FINANCING | $24M |
| FREE CASH FLOW | -$13M |
| Net Change in Cash | $10M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $42M |
| Short-Term Investments | $0 |
| Net Receivables | $29M |
| Inventory | $20M |
| Other Current Assets | $2M |
| TOTAL CURRENT ASSETS | $96M |
| PP&E (Net) | $4M |
| Goodwill | $21M |
| Intangible Assets | $47M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $223.0K |
| TOTAL NON-CURRENT ASSETS | $73M |
| TOTAL ASSETS | $169M |
| Account Payables | $8M |
| Short-Term Debt | $0 |
| Deferred Revenue | $9M |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $41M |
| Long-Term Debt | $95M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $22.0K |
| Other Non-Current Liabilities | $39M |
| TOTAL NON-CURRENT LIABILITIES | $135M |
| TOTAL LIABILITIES | $176M |
| Common Stock | $1.0K |
| Additional Paid-In Capital | $524M |
| Retained Earnings | -$530M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$468.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | -$7M |
| Minority Interest | $0 |
| TOTAL EQUITY | -$7M |
| TOTAL LIABILITIES & EQUITY | $169M |
| Total Debt | $97M |
| Net Debt | $55M |
