| Metric | Q1 2024 | Q4 2023 | Q1 2023 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $187M | $229M | $318M | -18.1% | -41.1% |
| Op. Income | -$64M | -$175M | $12M | 63.8% | -642.9% |
| Gross Margin | -7.9% | -15.1% | 16.8% | 7.1pp | -24.8pp |
| Net Margin | -42.8% | -81.4% | 6.4% | 38.7pp | -49.1pp |
| EPS (Diluted) | $-1.59 | $-3.45 | $0.38 | 53.9% | -518.4% |
| Free Cash Flow | -$92M | -$88M | -$40M | -4.6% | -129.9% |
| Item | Amount |
|---|---|
| REVENUE | $187M |
| Cost of Revenue | $202M |
| GROSS PROFIT | -$15M |
| R&D Expenses | $10M |
| Selling & Marketing | $2M |
| General & Administrative | $34M |
| SG&A Expenses | $36M |
| Other Expenses | $0 |
| Operating Expenses | $46M |
| Cost & Expenses | $251M |
| OPERATING INCOME | -$64M |
| Interest Income | $813.0K |
| Interest Expense | $10M |
| Other Income/Expenses | -$15M |
| INCOME BEFORE TAX | -$79M |
| Income Tax Expense | $1M |
| Net Income from Continuing Ops | -$80M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$80M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$80M |
| D&A | $11M |
| EBIT | -$69M |
| EBITDA | -$59M |
| EPS | -$2 |
| EPS Diluted | -$2 |
| Item | Amount |
|---|---|
| Net Income | -$80M |
| Depreciation & Amortization | $11M |
| Stock-Based Compensation | $7M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $24M |
| Change in Working Capital | -$34M |
| OPERATING CASH FLOW | -$73M |
| Capital Expenditure | -$19M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $539.0K |
| NET CASH FROM INVESTING | -$19M |
| Net Debt Issuance | -$128.0K |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | -$128.0K |
| FREE CASH FLOW | -$92M |
| Net Change in Cash | -$92M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $98M |
| Short-Term Investments | $0 |
| Net Receivables | $39M |
| Inventory | $272M |
| Other Current Assets | $52M |
| TOTAL CURRENT ASSETS | $461M |
| PP&E (Net) | $300M |
| Goodwill | $0 |
| Intangible Assets | $3M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $78M |
| TOTAL NON-CURRENT ASSETS | $381M |
| TOTAL ASSETS | $842M |
| Account Payables | $154M |
| Short-Term Debt | $25M |
| Deferred Revenue | $67M |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $339M |
| Long-Term Debt | $388M |
| Deferred Revenue NC | $114M |
| Deferred Tax Liabilities | $7M |
| Other Non-Current Liabilities | $36M |
| TOTAL NON-CURRENT LIABILITIES | $570M |
| TOTAL LIABILITIES | $910M |
| Common Stock | $0 |
| Additional Paid-In Capital | $818M |
| Retained Earnings | -$876M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$15M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | -$73M |
| Minority Interest | $6M |
| TOTAL EQUITY | -$68M |
| TOTAL LIABILITIES & EQUITY | $842M |
| Total Debt | $446M |
| Net Debt | $347M |
