Reported June 30, 2023
| Metric | Q2 2023 | Q1 2023 | Q2 2022 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $160M | $164M | — | -2.5% | — |
| Op. Income | $36M | $46M | — | -22.3% | — |
| Gross Margin | 27.8% | 32.6% | — | -4.8pp | — |
| Net Margin | -1.3% | 3.4% | — | -4.7pp | — |
| EPS (Diluted) | $-0.00 | $0.01 | — | -137.0% | — |
| Free Cash Flow | $19M | $28M | — | -33.1% | — |
| Item | Amount |
|---|---|
| REVENUE | $160M |
| Cost of Revenue | $115M |
| GROSS PROFIT | $45M |
| R&D Expenses | $0 |
| Selling & Marketing | $951.0K |
| General & Administrative | $8M |
| SG&A Expenses | $9M |
| Other Expenses | $0 |
| Operating Expenses | $9M |
| Cost & Expenses | $124M |
| OPERATING INCOME | $36M |
| Interest Income | $0 |
| Interest Expense | $860.0K |
| Other Income/Expenses | -$36M |
| INCOME BEFORE TAX | -$297.0K |
| Income Tax Expense | $2M |
| Net Income from Continuing Ops | -$2M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$2M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$2M |
| D&A | $1M |
| EBIT | $6M |
| EBITDA | $8M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$2M |
| Depreciation & Amortization | $20M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $19M |
| Change in Working Capital | -$1M |
| OPERATING CASH FLOW | $36M |
| Capital Expenditure | -$17M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $19M |
| NET CASH FROM INVESTING | $1M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$12M |
| NET CASH FROM FINANCING | -$12M |
| FREE CASH FLOW | $19M |
| Net Change in Cash | $26M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $119M |
| Short-Term Investments | $0 |
| Net Receivables | $12M |
| Inventory | $23M |
| Other Current Assets | $19M |
| TOTAL CURRENT ASSETS | $176M |
| PP&E (Net) | $373M |
| Goodwill | $0 |
| Intangible Assets | $330.0K |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $70M |
| TOTAL NON-CURRENT ASSETS | $443M |
| TOTAL ASSETS | $619M |
| Account Payables | $39M |
| Short-Term Debt | $69.0K |
| Deferred Revenue | $0 |
| Other Current Liabilities | $17M |
| TOTAL CURRENT LIABILITIES | $119M |
| Long-Term Debt | $443.0K |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $58M |
| TOTAL NON-CURRENT LIABILITIES | $243M |
| TOTAL LIABILITIES | $362M |
| Common Stock | $3.0K |
| Additional Paid-In Capital | $494M |
| Retained Earnings | -$282M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $42M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $255M |
| Minority Interest | $2M |
| TOTAL EQUITY | $257M |
| TOTAL LIABILITIES & EQUITY | $619M |
| Total Debt | $222M |
| Net Debt | $103M |