| Metric | Q2 2023 | Q1 2023 | Q2 2022 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $486M | $434M | $413M | 12.2% | 17.8% |
| Op. Income | -$57M | -$81M | -$95M | 29.9% | 40.4% |
| Gross Margin | 82.2% | 81.0% | 80.6% | 1.2pp | 1.5pp |
| Net Margin | -14.6% | -22.9% | -27.9% | 8.3pp | 13.3pp |
| EPS (Diluted) | $-0.31 | $-0.44 | $-0.53 | 29.5% | 41.5% |
| Free Cash Flow | $63M | $46M | $17M | 37.6% | 265.9% |
| Item | Amount |
|---|---|
| REVENUE | $486M |
| Cost of Revenue | $87M |
| GROSS PROFIT | $400M |
| R&D Expenses | $142M |
| Selling & Marketing | $230M |
| General & Administrative | $84M |
| SG&A Expenses | $314M |
| Other Expenses | $0 |
| Operating Expenses | $456M |
| Cost & Expenses | $543M |
| OPERATING INCOME | -$57M |
| Interest Income | $9M |
| Interest Expense | $16M |
| Other Income/Expenses | -$10M |
| INCOME BEFORE TAX | -$67M |
| Income Tax Expense | $4M |
| Net Income from Continuing Ops | -$71M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$71M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$71M |
| D&A | $20M |
| EBIT | -$51M |
| EBITDA | -$31M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$71M |
| Depreciation & Amortization | $20M |
| Stock-Based Compensation | $85M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $23M |
| Change in Working Capital | $17M |
| OPERATING CASH FLOW | $74M |
| Capital Expenditure | -$11M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$253M |
| Sales/Maturities of Investments | $261M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$2M |
| Net Debt Issuance | -$146M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | -$145M |
| FREE CASH FLOW | $63M |
| Net Change in Cash | -$74M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $407M |
| Short-Term Investments | $905M |
| Net Receivables | $161M |
| Inventory | $0 |
| Other Current Assets | $57M |
| TOTAL CURRENT ASSETS | $1.6B |
| PP&E (Net) | $219M |
| Goodwill | $185M |
| Intangible Assets | $10M |
| Long-Term Investments | $3M |
| Tax Assets | $0 |
| Other Non-Current Assets | $372M |
| TOTAL NON-CURRENT ASSETS | $789M |
| TOTAL ASSETS | $2.4B |
| Account Payables | $44M |
| Short-Term Debt | $37M |
| Deferred Revenue | $787M |
| Other Current Liabilities | $127M |
| TOTAL CURRENT LIABILITIES | $1.1B |
| Long-Term Debt | $1.2B |
| Deferred Revenue NC | $739M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $29M |
| TOTAL NON-CURRENT LIABILITIES | $2.0B |
| TOTAL LIABILITIES | $3.2B |
| Common Stock | $6.0K |
| Additional Paid-In Capital | $3.8B |
| Retained Earnings | -$4.5B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$6M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | -$783M |
| Minority Interest | $0 |
| TOTAL EQUITY | -$783M |
| TOTAL LIABILITIES & EQUITY | $2.4B |
| Total Debt | $1.3B |
| Net Debt | $904M |
