| Metric | Q3 2023 | Q2 2023 | Q3 2022 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $1.2B | $1.3B | $1.4B | -5.1% | -12.1% |
| Op. Income | -$191M | -$116M | -$88M | -64.6% | -117.3% |
| Gross Margin | 5.0% | 7.9% | 6.3% | -2.8pp | -1.3pp |
| Net Margin | -12.3% | -7.7% | -5.5% | -4.6pp | -6.8pp |
| EPS (Diluted) | $-2.98 | $-1.52 | $-1.19 | -96.1% | -150.4% |
| Free Cash Flow | -$52M | -$87M | -$84M | 39.5% | 37.4% |
| Item | Amount |
|---|---|
| REVENUE | $1.2B |
| Cost of Revenue | $1.1B |
| GROSS PROFIT | $60M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $156M |
| SG&A Expenses | $156M |
| Other Expenses | $95M |
| Operating Expenses | $251M |
| Cost & Expenses | $1.4B |
| OPERATING INCOME | -$191M |
| Interest Income | $88M |
| Interest Expense | $14M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | -$191M |
| Income Tax Expense | -$44M |
| Net Income from Continuing Ops | -$146M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$146M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$146M |
| D&A | $16M |
| EBIT | -$177M |
| EBITDA | -$161M |
| EPS | -$3 |
| EPS Diluted | -$3 |
| Item | Amount |
|---|---|
| Net Income | -$146M |
| Depreciation & Amortization | $0 |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $112M |
| Change in Working Capital | -$5M |
| OPERATING CASH FLOW | -$39M |
| Capital Expenditure | -$14M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$89M |
| Sales/Maturities of Investments | $251M |
| Other Investing Activities | -$8M |
| NET CASH FROM INVESTING | $140M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | -$20M |
| Other Financing Activities | -$44M |
| NET CASH FROM FINANCING | -$63M |
| FREE CASH FLOW | -$52M |
| Net Change in Cash | $36M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $112M |
| Short-Term Investments | $419M |
| Net Receivables | $1.4B |
| Inventory | $0 |
| Other Current Assets | -$1.9B |
| TOTAL CURRENT ASSETS | $0 |
| PP&E (Net) | $0 |
| Goodwill | $1.3B |
| Intangible Assets | $0 |
| Long-Term Investments | $7.4B |
| Tax Assets | $0 |
| Other Non-Current Assets | -$8.6B |
| TOTAL NON-CURRENT ASSETS | $0 |
| TOTAL ASSETS | $12.5B |
| Account Payables | $0 |
| Short-Term Debt | $450M |
| Deferred Revenue | $0 |
| Other Current Liabilities | -$450M |
| TOTAL CURRENT LIABILITIES | $0 |
| Long-Term Debt | $939M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $58M |
| Other Non-Current Liabilities | -$997M |
| TOTAL NON-CURRENT LIABILITIES | $0 |
| TOTAL LIABILITIES | $10.2B |
| Common Stock | $6M |
| Additional Paid-In Capital | $1.8B |
| Retained Earnings | $982M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$473M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $2.4B |
| Minority Interest | -$100.0K |
| TOTAL EQUITY | $2.4B |
| TOTAL LIABILITIES & EQUITY | $12.5B |
| Total Debt | $1.4B |
| Net Debt | $1.3B |
