| Metric | Q2 2024 | Q1 2024 | Q2 2023 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $225M | $119M | $188M | 88.5% | 19.6% |
| Op. Income | -$66M | -$150M | -$90M | 55.8% | 26.7% |
| Gross Margin | 98.2% | 98.2% | 98.7% | -0.0pp | -0.5pp |
| Net Margin | -29.4% | -119.5% | -45.3% | 90.1pp | 15.8pp |
| EPS (Diluted) | $-0.45 | $-0.98 | $-0.59 | 54.1% | 23.7% |
| Free Cash Flow | -$140M | -$156M | -$110M | 10.0% | -26.9% |
| Item | Amount |
|---|---|
| REVENUE | $225M |
| Cost of Revenue | $4M |
| GROSS PROFIT | $221M |
| R&D Expenses | $222M |
| Selling & Marketing | $0 |
| General & Administrative | $65M |
| SG&A Expenses | $65M |
| Other Expenses | $13.0K |
| Operating Expenses | $287M |
| Cost & Expenses | $291M |
| OPERATING INCOME | -$66M |
| Interest Income | $26M |
| Interest Expense | $23M |
| Other Income/Expenses | -$110.0K |
| INCOME BEFORE TAX | -$66M |
| Income Tax Expense | $64.0K |
| Net Income from Continuing Ops | -$66M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$66M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$66M |
| D&A | $6M |
| EBIT | -$43M |
| EBITDA | -$38M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$66M |
| Depreciation & Amortization | $6M |
| Stock-Based Compensation | $31M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $4M |
| Change in Working Capital | -$94M |
| OPERATING CASH FLOW | -$120M |
| Capital Expenditure | -$20M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$285M |
| Sales/Maturities of Investments | $368M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $62M |
| Net Debt Issuance | -$39.0K |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $3M |
| FREE CASH FLOW | -$140M |
| Net Change in Cash | -$55M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $294M |
| Short-Term Investments | $1.8B |
| Net Receivables | $27M |
| Inventory | $29M |
| Other Current Assets | $195M |
| TOTAL CURRENT ASSETS | $2.3B |
| PP&E (Net) | $243M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $41M |
| Tax Assets | $0 |
| Other Non-Current Assets | $78M |
| TOTAL NON-CURRENT ASSETS | $362M |
| TOTAL ASSETS | $2.7B |
| Account Payables | $9M |
| Short-Term Debt | $44M |
| Deferred Revenue | $94M |
| Other Current Liabilities | $44M |
| TOTAL CURRENT LIABILITIES | $306M |
| Long-Term Debt | $1.2B |
| Deferred Revenue NC | $189M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $534M |
| TOTAL NON-CURRENT LIABILITIES | $2.1B |
| TOTAL LIABILITIES | $2.4B |
| Common Stock | $146.0K |
| Additional Paid-In Capital | $2.3B |
| Retained Earnings | -$2.0B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$35M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $264M |
| Minority Interest | $0 |
| TOTAL EQUITY | $264M |
| TOTAL LIABILITIES & EQUITY | $2.7B |
| Total Debt | $1.4B |
| Net Debt | $1.1B |
