| Metric | Q2 2024 | Q1 2024 | Q2 2023 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $230M | $297M | $272M | -22.6% | -15.4% |
| Op. Income | $105M | $173M | $142M | -39.3% | -26.1% |
| Gross Margin | 50.0% | 62.3% | 56.6% | -12.3pp | -6.6pp |
| Net Margin | 45.7% | 58.2% | 52.2% | -12.6pp | -6.6pp |
| EPS (Diluted) | $0.37 | $0.62 | $0.51 | -40.3% | -27.5% |
| Free Cash Flow | $376M | $466M | $279M | -19.3% | 34.8% |
| Item | Amount |
|---|---|
| REVENUE | $230M |
| Cost of Revenue | $115M |
| GROSS PROFIT | $115M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $10M |
| SG&A Expenses | $10M |
| Other Expenses | $0 |
| Operating Expenses | $10M |
| Cost & Expenses | $125M |
| OPERATING INCOME | $105M |
| Interest Income | $353M |
| Interest Expense | $115M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $105M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | $105M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $105M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $105M |
| D&A | $0 |
| EBIT | $105M |
| EBITDA | $105M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $230M |
| Cost of Revenue | $115M |
| GROSS PROFIT | $115M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $10M |
| SG&A Expenses | $10M |
| Other Expenses | $0 |
| Operating Expenses | $10M |
| Cost & Expenses | $125M |
| OPERATING INCOME | $105M |
| Interest Income | $353M |
| Interest Expense | $115M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $105M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | $105M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $105M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $105M |
| D&A | $0 |
| EBIT | $105M |
| EBITDA | $105M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $105M |
| Depreciation & Amortization | $0 |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $154M |
| Change in Working Capital | $117M |
| OPERATING CASH FLOW | $376M |
| 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 | $39M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | -$210M |
| Other Financing Activities | -$14M |
| NET CASH FROM FINANCING | -$185M |
| FREE CASH FLOW | $376M |
| Net Change in Cash | $191M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $433M |
| Short-Term Investments | $0 |
| Net Receivables | $542M |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $975M |
| PP&E (Net) | $0 |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $14.1B |
| TOTAL NON-CURRENT ASSETS | $14.1B |
| TOTAL ASSETS | $15.1B |
| Account Payables | $314M |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $314M |
| Long-Term Debt | $8.0B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $124M |
| TOTAL NON-CURRENT LIABILITIES | $8.1B |
| TOTAL LIABILITIES | $8.4B |
| Common Stock | $0 |
| Additional Paid-In Capital | $9.4B |
| Retained Earnings | -$2.7B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $6.7B |
| Minority Interest | $0 |
| TOTAL EQUITY | $6.7B |
| TOTAL LIABILITIES & EQUITY | $15.1B |
| Total Debt | $8.0B |
| Net Debt | $7.5B |
