| Metric | Q3 2023 | Q2 2023 | Q3 2022 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $228M | — | $275M | — | -17.4% |
| Op. Income | -$64M | — | -$57M | — | -12.3% |
| Gross Margin | 1.2% | — | -5.7% | — | 6.9pp |
| Net Margin | -47.6% | — | -16.2% | — | -31.3pp |
| EPS (Diluted) | $-2.21 | — | $-1.09 | — | -102.8% |
| Free Cash Flow | -$167M | — | -$56M | — | -196.9% |
| Item | Amount |
|---|---|
| REVENUE | $228M |
| Cost of Revenue | $225M |
| GROSS PROFIT | $3M |
| R&D Expenses | $12M |
| Selling & Marketing | $2M |
| General & Administrative | $30M |
| SG&A Expenses | $32M |
| Other Expenses | $0 |
| Operating Expenses | $43M |
| Cost & Expenses | $268M |
| OPERATING INCOME | -$64M |
| Interest Income | $0 |
| Interest Expense | $10M |
| Other Income/Expenses | -$45M |
| INCOME BEFORE TAX | -$108M |
| Income Tax Expense | -$3M |
| Net Income from Continuing Ops | -$108M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$108M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$108M |
| D&A | $15M |
| EBIT | -$98M |
| EBITDA | -$83M |
| EPS | -$2 |
| EPS Diluted | -$2 |
| Item | Amount |
|---|---|
| Net Income | -$108M |
| Depreciation & Amortization | $15M |
| Stock-Based Compensation | $5M |
| Deferred Income Tax | -$12.0K |
| Other Non-Cash Items | $51M |
| Change in Working Capital | -$114M |
| OPERATING CASH FLOW | -$152M |
| Capital Expenditure | -$15M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $10.0K |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $960.0K |
| NET CASH FROM INVESTING | -$14M |
| Net Debt Issuance | -$12M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | -$13M |
| FREE CASH FLOW | -$167M |
| Net Change in Cash | -$179M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $208M |
| Short-Term Investments | $60M |
| Net Receivables | $91M |
| Inventory | $386M |
| Other Current Assets | $92M |
| TOTAL CURRENT ASSETS | $839M |
| PP&E (Net) | $383M |
| Goodwill | $0 |
| Intangible Assets | $276.0K |
| Long-Term Investments | $0 |
| Tax Assets | $10M |
| Other Non-Current Assets | $68M |
| TOTAL NON-CURRENT ASSETS | $461M |
| TOTAL ASSETS | $1.3B |
| Account Payables | $181M |
| Short-Term Debt | $23M |
| Deferred Revenue | $204M |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $517M |
| Long-Term Debt | $385M |
| Deferred Revenue NC | $125M |
| Deferred Tax Liabilities | $14M |
| Other Non-Current Liabilities | $63M |
| TOTAL NON-CURRENT LIABILITIES | $609M |
| TOTAL LIABILITIES | $1.1B |
| Common Stock | $0 |
| Additional Paid-In Capital | $795M |
| Retained Earnings | -$610M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$16M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $170M |
| Minority Interest | $6M |
| TOTAL EQUITY | $176M |
| TOTAL LIABILITIES & EQUITY | $1.3B |
| Total Debt | $435M |
| Net Debt | $227M |
