| Metric | Q1 2024 | Q4 2023 | Q1 2023 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $39M | $58M | $39M | -33.5% | -0.2% |
| Op. Income | -$81M | -$88M | -$91M | 7.1% | 10.8% |
| Gross Margin | 29.1% | 16.4% | 25.1% | 12.7pp | 4.0pp |
| Net Margin | -201.4% | -140.5% | -226.3% | -60.9pp | 24.8pp |
| EPS (Diluted) | $-0.29 | $-0.31 | $-0.34 | 6.5% | 14.7% |
| Free Cash Flow | -$80M | -$60M | -$98M | -33.4% | 19.2% |
| Item | Amount |
|---|---|
| REVENUE | $39M |
| Cost of Revenue | $28M |
| GROSS PROFIT | $11M |
| R&D Expenses | $43M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $42M |
| Other Expenses | $7M |
| Operating Expenses | $93M |
| Cost & Expenses | $120M |
| OPERATING INCOME | -$81M |
| Interest Income | $0 |
| Interest Expense | $4M |
| Other Income/Expenses | $3M |
| INCOME BEFORE TAX | -$78M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | -$78M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$78M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$78M |
| D&A | $12M |
| EBIT | -$75M |
| EBITDA | -$63M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$78M |
| Depreciation & Amortization | $12M |
| Stock-Based Compensation | $20M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$4M |
| Change in Working Capital | -$25M |
| OPERATING CASH FLOW | -$76M |
| Capital Expenditure | -$4M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$192M |
| Sales/Maturities of Investments | $162M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$34M |
| Net Debt Issuance | -$338.0K |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $7M |
| FREE CASH FLOW | -$80M |
| Net Change in Cash | -$103M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $77M |
| Short-Term Investments | $485M |
| Net Receivables | $30M |
| Inventory | $67M |
| Other Current Assets | $17M |
| TOTAL CURRENT ASSETS | $677M |
| PP&E (Net) | $68M |
| Goodwill | $462M |
| Intangible Assets | $450M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $13M |
| TOTAL NON-CURRENT ASSETS | $993M |
| TOTAL ASSETS | $1.7B |
| Account Payables | $21M |
| Short-Term Debt | $0 |
| Deferred Revenue | $17M |
| Other Current Liabilities | $3M |
| TOTAL CURRENT LIABILITIES | $73M |
| Long-Term Debt | $893M |
| Deferred Revenue NC | $6M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $20M |
| TOTAL NON-CURRENT LIABILITIES | $948M |
| TOTAL LIABILITIES | $1.0B |
| Common Stock | $272.0K |
| Additional Paid-In Capital | $2.6B |
| Retained Earnings | -$1.9B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$306.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $649M |
| Minority Interest | $0 |
| TOTAL EQUITY | $649M |
| TOTAL LIABILITIES & EQUITY | $1.7B |
| Total Debt | $931M |
| Net Debt | $855M |
