| Metric | Q3 2023 | Q2 2023 | Q3 2022 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $18M | $31M | $11M | -39.8% | 71.1% |
| Op. Income | -$40M | -$27M | -$47M | -49.5% | 14.4% |
| Gross Margin | -159.1% | -49.2% | -342.6% | -110.0pp | 183.5pp |
| Net Margin | -200.3% | -79.1% | -423.6% | -121.1pp | 223.3pp |
| EPS (Diluted) | $-0.68 | $-0.40 | $-0.88 | -70.0% | 22.7% |
| Free Cash Flow | -$44M | -$20M | -$50M | -123.0% | 12.3% |
| Item | Amount |
|---|---|
| REVENUE | $18M |
| Cost of Revenue | $48M |
| GROSS PROFIT | -$29M |
| R&D Expenses | $48M |
| Selling & Marketing | $0 |
| General & Administrative | $11M |
| SG&A Expenses | $11M |
| Other Expenses | -$48M |
| Operating Expenses | $11M |
| Cost & Expenses | $58M |
| OPERATING INCOME | -$40M |
| Interest Income | $3M |
| Interest Expense | $0 |
| Other Income/Expenses | $3M |
| INCOME BEFORE TAX | -$37M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | -$37M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$37M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$37M |
| D&A | $2M |
| EBIT | -$40M |
| EBITDA | -$38M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$37M |
| Depreciation & Amortization | $3M |
| Stock-Based Compensation | $8M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$1M |
| Change in Working Capital | -$15M |
| OPERATING CASH FLOW | -$41M |
| Capital Expenditure | -$2M |
| Acquisitions (Net) | -$25M |
| Purchases of Investments | -$75M |
| Sales/Maturities of Investments | $100M |
| Other Investing Activities | $25M |
| NET CASH FROM INVESTING | $23M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $2M |
| FREE CASH FLOW | -$44M |
| Net Change in Cash | -$17M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $42M |
| Short-Term Investments | $217M |
| Net Receivables | $2M |
| Inventory | $0 |
| Other Current Assets | $7M |
| TOTAL CURRENT ASSETS | $268M |
| PP&E (Net) | $26M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $10M |
| Tax Assets | $0 |
| Other Non-Current Assets | $5M |
| TOTAL NON-CURRENT ASSETS | $40M |
| TOTAL ASSETS | $308M |
| Account Payables | $2M |
| Short-Term Debt | $0 |
| Deferred Revenue | $32M |
| Other Current Liabilities | $12M |
| TOTAL CURRENT LIABILITIES | $61M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $10M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $0 |
| TOTAL NON-CURRENT LIABILITIES | $13M |
| TOTAL LIABILITIES | $74M |
| Common Stock | $49.0K |
| Additional Paid-In Capital | $738M |
| Retained Earnings | -$503M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$1M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $234M |
| Minority Interest | $0 |
| TOTAL EQUITY | $234M |
| TOTAL LIABILITIES & EQUITY | $308M |
| Total Debt | $8M |
| Net Debt | -$34M |
