| Metric | Q1 2024 | Q4 2023 | Q1 2023 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $33M | $34M | $39M | -1.8% | -14.4% |
| Op. Income | -$34M | -$38M | -$31M | 10.7% | -9.3% |
| Gross Margin | 94.0% | 95.4% | 96.5% | -1.4pp | -2.5pp |
| Net Margin | -112.8% | -124.0% | -88.2% | 11.2pp | -24.6pp |
| EPS (Diluted) | $-4.85 | $-5.47 | $-4.51 | 11.3% | -7.5% |
| Free Cash Flow | -$44M | -$19M | -$19M | -136.3% | -132.3% |
| Item | Amount |
|---|---|
| REVENUE | $33M |
| Cost of Revenue | $2M |
| GROSS PROFIT | $31M |
| R&D Expenses | $35M |
| Selling & Marketing | $0 |
| General & Administrative | $30M |
| SG&A Expenses | $30M |
| Other Expenses | $0 |
| Operating Expenses | $65M |
| Cost & Expenses | $67M |
| OPERATING INCOME | -$34M |
| Interest Income | $2M |
| Interest Expense | $6M |
| Other Income/Expenses | -$4M |
| INCOME BEFORE TAX | -$37M |
| Income Tax Expense | $71.0K |
| Net Income from Continuing Ops | -$37M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$37M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$37M |
| D&A | $85.0K |
| EBIT | -$31M |
| EBITDA | -$31M |
| EPS | -$5 |
| EPS Diluted | -$5 |
| Item | Amount |
|---|---|
| Net Income | -$37M |
| Depreciation & Amortization | $293.0K |
| Stock-Based Compensation | $5M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $994.0K |
| Change in Working Capital | -$13M |
| OPERATING CASH FLOW | -$44M |
| Capital Expenditure | -$195.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $22M |
| NET CASH FROM INVESTING | $22M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $0 |
| FREE CASH FLOW | -$44M |
| Net Change in Cash | -$22M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $31M |
| Short-Term Investments | $118M |
| Net Receivables | $31M |
| Inventory | $3M |
| Other Current Assets | $16M |
| TOTAL CURRENT ASSETS | $198M |
| PP&E (Net) | $4M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $2M |
| TOTAL NON-CURRENT ASSETS | $6M |
| TOTAL ASSETS | $204M |
| Account Payables | $5M |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $2M |
| TOTAL CURRENT LIABILITIES | $65M |
| Long-Term Debt | $171M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $135M |
| TOTAL NON-CURRENT LIABILITIES | $308M |
| TOTAL LIABILITIES | $373M |
| Common Stock | $12.0K |
| Additional Paid-In Capital | $1.4B |
| Retained Earnings | -$1.5B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$518.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | -$169M |
| Minority Interest | $0 |
| TOTAL EQUITY | -$169M |
| TOTAL LIABILITIES & EQUITY | $204M |
| Total Debt | $176M |
| Net Debt | $146M |
