| Metric | Q1 2024 | Q4 2023 | Q1 2023 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $297M | $243M | $322M | 22.2% | -7.8% |
| Op. Income | $173M | $115M | $199M | 50.4% | -13.1% |
| Gross Margin | 62.3% | 53.1% | 65.8% | 9.2pp | -3.5pp |
| Net Margin | 58.2% | 37.0% | 61.8% | 21.2pp | -3.6pp |
| EPS (Diluted) | $0.62 | $0.32 | $0.71 | 93.8% | -12.7% |
| Free Cash Flow | $466M | $150M | $131M | 210.7% | 255.7% |
| Item | Amount |
|---|---|
| REVENUE | $297M |
| Cost of Revenue | $112M |
| GROSS PROFIT | $185M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $8M |
| SG&A Expenses | $8M |
| Other Expenses | $4M |
| Operating Expenses | $12M |
| Cost & Expenses | $124M |
| OPERATING INCOME | $173M |
| Interest Income | $350M |
| Interest Expense | $112M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $173M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | $173M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $173M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $173M |
| D&A | $0 |
| EBIT | $173M |
| EBITDA | $173M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| REVENUE | $297M |
| Cost of Revenue | $112M |
| GROSS PROFIT | $185M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $8M |
| SG&A Expenses | $8M |
| Other Expenses | $4M |
| Operating Expenses | $12M |
| Cost & Expenses | $124M |
| OPERATING INCOME | $173M |
| Interest Income | $350M |
| Interest Expense | $112M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $173M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | $173M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $173M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $173M |
| D&A | $0 |
| EBIT | $173M |
| EBITDA | $173M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $173M |
| Depreciation & Amortization | $0 |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $413M |
| Change in Working Capital | -$120M |
| OPERATING CASH FLOW | $466M |
| Capital Expenditure | $0 |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $0 |
| Net Debt Issuance | -$244M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | -$210M |
| Other Financing Activities | -$1M |
| NET CASH FROM FINANCING | -$455M |
| FREE CASH FLOW | $466M |
| Net Change in Cash | $11M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $242M |
| Short-Term Investments | $0 |
| Net Receivables | $629M |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $881M |
| PP&E (Net) | $0 |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $19M |
| Tax Assets | $0 |
| Other Non-Current Assets | $14.3B |
| TOTAL NON-CURRENT ASSETS | $14.3B |
| TOTAL ASSETS | $15.2B |
| Account Payables | $287M |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $287M |
| Long-Term Debt | $7.9B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $119M |
| TOTAL NON-CURRENT LIABILITIES | $8.1B |
| TOTAL LIABILITIES | $8.3B |
| Common Stock | $0 |
| Additional Paid-In Capital | $9.4B |
| Retained Earnings | -$2.6B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $6.8B |
| Minority Interest | $0 |
| TOTAL EQUITY | $6.8B |
| TOTAL LIABILITIES & EQUITY | $15.2B |
| Total Debt | $7.9B |
| Net Debt | $7.7B |
