| Metric | Q2 2023 | Q1 2023 | Q2 2022 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $156M | $158M | $157M | -1.1% | -0.9% |
| Op. Income | $10M | $11M | $15M | -10.9% | -33.9% |
| Gross Margin | 54.5% | 53.3% | 52.3% | 1.1pp | 2.1pp |
| Net Margin | 1.0% | 3.2% | 9.4% | -2.2pp | -8.4pp |
| EPS (Diluted) | $0.01 | $0.04 | $0.14 | -75.0% | -92.9% |
| Free Cash Flow | -$18M | $4M | $19M | -557.6% | -196.1% |
| Item | Amount |
|---|---|
| REVENUE | $156M |
| Cost of Revenue | $71M |
| GROSS PROFIT | $85M |
| R&D Expenses | $32M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $43M |
| Other Expenses | $0 |
| Operating Expenses | $75M |
| Cost & Expenses | $146M |
| OPERATING INCOME | $10M |
| Interest Income | $0 |
| Interest Expense | $800.0K |
| Other Income/Expenses | -$936.0K |
| INCOME BEFORE TAX | $9M |
| Income Tax Expense | $7M |
| 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 | $3M |
| EBIT | $10M |
| EBITDA | $13M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $156M |
| Cost of Revenue | $71M |
| GROSS PROFIT | $85M |
| R&D Expenses | $32M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $43M |
| Other Expenses | $0 |
| Operating Expenses | $75M |
| Cost & Expenses | $146M |
| OPERATING INCOME | $10M |
| Interest Income | $0 |
| Interest Expense | $800.0K |
| Other Income/Expenses | -$936.0K |
| INCOME BEFORE TAX | $9M |
| Income Tax Expense | $7M |
| 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 | $3M |
| EBIT | $10M |
| EBITDA | $13M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $2M |
| Depreciation & Amortization | $3M |
| Stock-Based Compensation | $6M |
| Deferred Income Tax | $774.0K |
| Other Non-Cash Items | $3M |
| Change in Working Capital | -$30M |
| OPERATING CASH FLOW | -$17M |
| Capital Expenditure | -$2M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$2M |
| Net Debt Issuance | -$740.0K |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$1M |
| NET CASH FROM FINANCING | -$2M |
| FREE CASH FLOW | -$18M |
| Net Change in Cash | -$20M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $71M |
| Short-Term Investments | $0 |
| Net Receivables | $125M |
| Inventory | $114M |
| Other Current Assets | $18M |
| TOTAL CURRENT ASSETS | $332M |
| PP&E (Net) | $61M |
| Goodwill | $239M |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $59M |
| TOTAL NON-CURRENT ASSETS | $359M |
| TOTAL ASSETS | $690M |
| Account Payables | $37M |
| Short-Term Debt | $119M |
| Deferred Revenue | $66M |
| Other Current Liabilities | $34M |
| TOTAL CURRENT LIABILITIES | $288M |
| Long-Term Debt | $11M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $28M |
| TOTAL NON-CURRENT LIABILITIES | $60M |
| TOTAL LIABILITIES | $348M |
| Common Stock | $112.0K |
| Additional Paid-In Capital | $2.4B |
| Retained Earnings | -$2.0B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$7M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $343M |
| Minority Interest | $0 |
| TOTAL EQUITY | $343M |
| TOTAL LIABILITIES & EQUITY | $690M |
| Total Debt | $158M |
| Net Debt | $87M |
