| Metric | Q1 2024 | Q4 2023 | Q1 2023 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $69M | $70M | $32M | -0.5% | 119.1% |
| Op. Income | -$26M | -$33M | -$27M | 18.8% | 2.5% |
| Gross Margin | 74.2% | 64.0% | 84.2% | 10.2pp | -10.0pp |
| Net Margin | -36.5% | -51.3% | -95.4% | 14.7pp | 58.8pp |
| EPS (Diluted) | $-0.54 | $-0.71 | $-0.80 | 23.9% | 32.5% |
| Free Cash Flow | $15M | -$22M | -$34M | 170.3% | 144.9% |
| Item | Amount |
|---|---|
| REVENUE | $69M |
| Cost of Revenue | $18M |
| GROSS PROFIT | $51M |
| R&D Expenses | $32M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $46M |
| Other Expenses | $0 |
| Operating Expenses | $78M |
| Cost & Expenses | $96M |
| OPERATING INCOME | -$26M |
| Interest Income | $4M |
| Interest Expense | $4M |
| Other Income/Expenses | $2M |
| INCOME BEFORE TAX | -$25M |
| Income Tax Expense | $624.0K |
| Net Income from Continuing Ops | -$25M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$25M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$25M |
| D&A | $6M |
| EBIT | -$21M |
| EBITDA | -$15M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$25M |
| Depreciation & Amortization | $6M |
| Stock-Based Compensation | $11M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$565.0K |
| Change in Working Capital | $24M |
| OPERATING CASH FLOW | $15M |
| Capital Expenditure | -$13.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$13.0K |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $1M |
| NET CASH FROM FINANCING | $1M |
| FREE CASH FLOW | $15M |
| Net Change in Cash | $17M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $303M |
| Short-Term Investments | $0 |
| Net Receivables | $55M |
| Inventory | $22M |
| Other Current Assets | $10M |
| TOTAL CURRENT ASSETS | $389M |
| PP&E (Net) | $1M |
| Goodwill | $0 |
| Intangible Assets | $257M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $4M |
| TOTAL NON-CURRENT ASSETS | $262M |
| TOTAL ASSETS | $652M |
| Account Payables | $16M |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $12M |
| TOTAL CURRENT LIABILITIES | $106M |
| Long-Term Debt | $307M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $4M |
| TOTAL NON-CURRENT LIABILITIES | $311M |
| TOTAL LIABILITIES | $417M |
| Common Stock | $5.0K |
| Additional Paid-In Capital | $816M |
| Retained Earnings | -$582M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$13.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $235M |
| Minority Interest | $0 |
| TOTAL EQUITY | $235M |
| TOTAL LIABILITIES & EQUITY | $652M |
| Total Debt | $308M |
| Net Debt | $5M |
