| Metric | Q2 2024 | Q1 2024 | Q2 2023 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $43M | $33M | $38M | 29.2% | 13.9% |
| Op. Income | -$28M | -$34M | -$30M | 16.7% | 4.9% |
| Gross Margin | 96.4% | 94.0% | 96.8% | 2.4pp | -0.5pp |
| Net Margin | 55.6% | -112.8% | -86.8% | 168.4pp | 142.4pp |
| EPS (Diluted) | $-2.97 | $-4.85 | $-0.29 | 38.8% | -924.1% |
| Free Cash Flow | -$38M | -$44M | -$26M | 12.3% | -49.8% |
| Item | Amount |
|---|---|
| REVENUE | $43M |
| Cost of Revenue | $2M |
| GROSS PROFIT | $41M |
| R&D Expenses | $38M |
| Selling & Marketing | $0 |
| General & Administrative | $31M |
| SG&A Expenses | $31M |
| Other Expenses | $0 |
| Operating Expenses | $69M |
| Cost & Expenses | $71M |
| OPERATING INCOME | -$28M |
| Interest Income | $2M |
| Interest Expense | $9M |
| Other Income/Expenses | $52M |
| INCOME BEFORE TAX | $24M |
| Income Tax Expense | $67.0K |
| Net Income from Continuing Ops | $24M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $24M |
| Net Income Deductions | $49M |
| BOTTOM LINE NET INCOME | -$31M |
| D&A | $91.0K |
| EBIT | $33M |
| EBITDA | $33M |
| EPS | $2 |
| EPS Diluted | -$3 |
| Item | Amount |
|---|---|
| Net Income | $24M |
| Depreciation & Amortization | $91.0K |
| Stock-Based Compensation | $5M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$58M |
| Change in Working Capital | -$9M |
| OPERATING CASH FLOW | -$38M |
| Capital Expenditure | $0 |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$5M |
| Sales/Maturities of Investments | $56M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $51M |
| Net Debt Issuance | $40M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $41M |
| FREE CASH FLOW | -$38M |
| Net Change in Cash | $54M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $85M |
| Short-Term Investments | $67M |
| Net Receivables | $38M |
| Inventory | $3M |
| Other Current Assets | $15M |
| TOTAL CURRENT ASSETS | $209M |
| 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 | $5M |
| TOTAL ASSETS | $214M |
| Account Payables | $3M |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $1M |
| TOTAL CURRENT LIABILITIES | $58M |
| Long-Term Debt | $191M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $96M |
| TOTAL NON-CURRENT LIABILITIES | $288M |
| TOTAL LIABILITIES | $346M |
| Common Stock | $13.0K |
| Additional Paid-In Capital | $1.4B |
| Retained Earnings | -$1.5B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$605.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | -$132M |
| Minority Interest | $0 |
| TOTAL EQUITY | -$132M |
| TOTAL LIABILITIES & EQUITY | $214M |
| Total Debt | $196M |
| Net Debt | $111M |
