| Metric | Q2 2024 | Q1 2024 | Q2 2023 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $556M | $518M | $452M | 7.3% | 23.0% |
| Op. Income | -$162M | -$160M | -$208M | -1.3% | 22.1% |
| Gross Margin | 73.2% | 72.6% | 69.5% | 0.6pp | 3.7pp |
| Net Margin | -20.0% | -23.0% | -46.5% | 3.0pp | 26.5pp |
| EPS (Diluted) | $-0.68 | $-0.74 | $-1.34 | 8.1% | 49.3% |
| Free Cash Flow | $49M | $124M | -$25M | -60.5% | 296.0% |
| Item | Amount |
|---|---|
| REVENUE | $556M |
| Cost of Revenue | $149M |
| GROSS PROFIT | $407M |
| R&D Expenses | $172M |
| Selling & Marketing | $261M |
| General & Administrative | $119M |
| SG&A Expenses | $380M |
| Other Expenses | $17M |
| Operating Expenses | $569M |
| Cost & Expenses | $718M |
| OPERATING INCOME | -$162M |
| Interest Income | $18M |
| Interest Expense | $2M |
| Other Income/Expenses | $58M |
| INCOME BEFORE TAX | -$104M |
| Income Tax Expense | $7M |
| Net Income from Continuing Ops | -$111M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$111M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$111M |
| D&A | $18M |
| EBIT | -$102M |
| EBITDA | -$84M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$111M |
| Depreciation & Amortization | $18M |
| Stock-Based Compensation | $185M |
| Deferred Income Tax | $2M |
| Other Non-Cash Items | $4M |
| Change in Working Capital | -$45M |
| OPERATING CASH FLOW | $53M |
| Capital Expenditure | -$4M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$146M |
| Sales/Maturities of Investments | $645M |
| Other Investing Activities | -$2M |
| NET CASH FROM INVESTING | $495M |
| Net Debt Issuance | -$339M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $24M |
| NET CASH FROM FINANCING | -$315M |
| FREE CASH FLOW | $49M |
| Net Change in Cash | $234M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $356M |
| Short-Term Investments | $1.8B |
| Net Receivables | $388M |
| Inventory | $0 |
| Other Current Assets | $192M |
| TOTAL CURRENT ASSETS | $2.7B |
| PP&E (Net) | $141M |
| Goodwill | $5.4B |
| Intangible Assets | $211M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $269M |
| TOTAL NON-CURRENT ASSETS | $6.0B |
| TOTAL ASSETS | $8.7B |
| Account Payables | $13M |
| Short-Term Debt | $0 |
| Deferred Revenue | $1.2B |
| Other Current Liabilities | $123M |
| TOTAL CURRENT LIABILITIES | $1.5B |
| Long-Term Debt | $1.5B |
| Deferred Revenue NC | $17M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $27M |
| TOTAL NON-CURRENT LIABILITIES | $1.6B |
| TOTAL LIABILITIES | $3.1B |
| Common Stock | $0 |
| Additional Paid-In Capital | $8.4B |
| Retained Earnings | -$2.7B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$14M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $5.6B |
| Minority Interest | $0 |
| TOTAL EQUITY | $5.6B |
| TOTAL LIABILITIES & EQUITY | $8.7B |
| Total Debt | $1.6B |
| Net Debt | $1.2B |
