| Metric | Q2 2023 | Q1 2023 | Q2 2022 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $33M | $24M | $17M | 35.6% | 98.3% |
| Op. Income | -$26M | -$28M | -$18M | 9.7% | -43.4% |
| Gross Margin | 55.7% | 51.2% | 50.8% | 4.5pp | 4.8pp |
| Net Margin | -76.4% | -116.7% | -114.9% | 40.3pp | 38.6pp |
| EPS (Diluted) | $-0.56 | $-0.63 | $-0.43 | 11.1% | -30.2% |
| Free Cash Flow | -$34M | -$41M | -$17M | 18.3% | -94.4% |
| Item | Amount |
|---|---|
| REVENUE | $33M |
| Cost of Revenue | $15M |
| GROSS PROFIT | $18M |
| R&D Expenses | $12M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $32M |
| Other Expenses | $0 |
| Operating Expenses | $44M |
| Cost & Expenses | $59M |
| OPERATING INCOME | -$26M |
| Interest Income | $1M |
| Interest Expense | $965.0K |
| Other Income/Expenses | $340.0K |
| INCOME BEFORE TAX | -$25M |
| Income Tax Expense | $0 |
| 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 | $642.0K |
| EBIT | -$24M |
| EBITDA | -$24M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$25M |
| Depreciation & Amortization | $642.0K |
| Stock-Based Compensation | $5M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $33.0K |
| Change in Working Capital | -$9M |
| OPERATING CASH FLOW | -$28M |
| Capital Expenditure | -$5M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$5M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $2M |
| NET CASH FROM FINANCING | $2M |
| FREE CASH FLOW | -$34M |
| Net Change in Cash | -$31M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $150M |
| Short-Term Investments | $0 |
| Net Receivables | $33M |
| Inventory | $43M |
| Other Current Assets | $4M |
| TOTAL CURRENT ASSETS | $230M |
| PP&E (Net) | $38M |
| Goodwill | $0 |
| Intangible Assets | $1M |
| Long-Term Investments | $3M |
| Tax Assets | $0 |
| Other Non-Current Assets | $131.0K |
| TOTAL NON-CURRENT ASSETS | $42M |
| TOTAL ASSETS | $272M |
| Account Payables | $10M |
| Short-Term Debt | $2M |
| Deferred Revenue | $5M |
| Other Current Liabilities | $9M |
| TOTAL CURRENT LIABILITIES | $36M |
| Long-Term Debt | $51M |
| Deferred Revenue NC | $357.0K |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $2M |
| TOTAL NON-CURRENT LIABILITIES | $81M |
| TOTAL LIABILITIES | $117M |
| Common Stock | $0 |
| Additional Paid-In Capital | $558M |
| Retained Earnings | -$402M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$6.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $156M |
| Minority Interest | $0 |
| TOTAL EQUITY | $156M |
| TOTAL LIABILITIES & EQUITY | $272M |
| Total Debt | $81M |
| Net Debt | -$70M |
