| Metric | Q3 2023 | Q2 2023 | Q3 2022 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $40M | $44M | $16M | -9.4% | 155.1% |
| Op. Income | -$63M | -$88M | -$94M | 27.9% | 32.2% |
| Gross Margin | 89.4% | 87.1% | 72.6% | 2.3pp | 16.8pp |
| Net Margin | -158.5% | -197.8% | -582.5% | 39.3pp | 424.0pp |
| EPS (Diluted) | $-0.65 | $-0.90 | $-0.98 | 27.8% | 33.7% |
| Free Cash Flow | -$85M | -$112M | -$53M | 23.6% | -61.6% |
| Item | Amount |
|---|---|
| REVENUE | $40M |
| Cost of Revenue | $4M |
| GROSS PROFIT | $36M |
| R&D Expenses | $61M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $26M |
| Other Expenses | $13M |
| Operating Expenses | $99M |
| Cost & Expenses | $104M |
| OPERATING INCOME | -$63M |
| Interest Income | $4M |
| Interest Expense | $5M |
| Other Income/Expenses | -$49.0K |
| INCOME BEFORE TAX | -$64M |
| Income Tax Expense | $84.0K |
| Net Income from Continuing Ops | -$64M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$64M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$64M |
| D&A | $2M |
| EBIT | -$59M |
| EBITDA | -$57M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$64M |
| Depreciation & Amortization | $2M |
| Stock-Based Compensation | $9M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $2M |
| Change in Working Capital | -$35M |
| OPERATING CASH FLOW | -$85M |
| Capital Expenditure | -$684.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$53M |
| Sales/Maturities of Investments | $108M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $54M |
| Net Debt Issuance | -$22.0K |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | -$22.0K |
| FREE CASH FLOW | -$85M |
| Net Change in Cash | -$32M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $61M |
| Short-Term Investments | $130M |
| Net Receivables | $32M |
| Inventory | $41M |
| Other Current Assets | $100M |
| TOTAL CURRENT ASSETS | $364M |
| PP&E (Net) | $86M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $5M |
| Tax Assets | $0 |
| Other Non-Current Assets | $6M |
| TOTAL NON-CURRENT ASSETS | $96M |
| TOTAL ASSETS | $460M |
| Account Payables | $19M |
| Short-Term Debt | $0 |
| Deferred Revenue | $7M |
| Other Current Liabilities | $13M |
| TOTAL CURRENT LIABILITIES | $209M |
| Long-Term Debt | $72M |
| Deferred Revenue NC | $154M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $70M |
| TOTAL NON-CURRENT LIABILITIES | $366M |
| TOTAL LIABILITIES | $576M |
| Common Stock | $983.0K |
| Additional Paid-In Capital | $1.6B |
| Retained Earnings | -$1.8B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$7M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | -$157M |
| Minority Interest | $42M |
| TOTAL EQUITY | -$115M |
| TOTAL LIABILITIES & EQUITY | $460M |
| Total Debt | $154M |
| Net Debt | $93M |
