| Metric | Q3 2023 | Q2 2023 | Q3 2022 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $35M | $33M | $20M | 6.0% | 72.5% |
| Op. Income | -$26M | -$26M | -$22M | 0.1% | -15.9% |
| Gross Margin | 53.8% | 55.7% | 50.3% | -1.9pp | 3.5pp |
| Net Margin | -70.1% | -76.4% | -111.1% | 6.2pp | 41.0pp |
| EPS (Diluted) | $-0.51 | $-0.56 | $-0.51 | 8.9% | 0.0% |
| Free Cash Flow | -$25M | -$34M | -$21M | 26.7% | -15.7% |
| Item | Amount |
|---|---|
| REVENUE | $35M |
| Cost of Revenue | $16M |
| GROSS PROFIT | $19M |
| R&D Expenses | $12M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $33M |
| Other Expenses | $0 |
| Operating Expenses | $44M |
| Cost & Expenses | $61M |
| OPERATING INCOME | -$26M |
| Interest Income | $2M |
| Interest Expense | $1M |
| Other Income/Expenses | $987.0K |
| 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 | $1M |
| EBIT | -$24M |
| EBITDA | -$23M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$25M |
| Depreciation & Amortization | $1M |
| Stock-Based Compensation | $5M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $416.0K |
| Change in Working Capital | -$1M |
| OPERATING CASH FLOW | -$19M |
| Capital Expenditure | -$6M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$6M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $162M |
| NET CASH FROM FINANCING | $162M |
| FREE CASH FLOW | -$25M |
| Net Change in Cash | $137M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $288M |
| Short-Term Investments | $0 |
| Net Receivables | $35M |
| Inventory | $42M |
| Other Current Assets | $4M |
| TOTAL CURRENT ASSETS | $369M |
| PP&E (Net) | $48M |
| Goodwill | $0 |
| Intangible Assets | $1M |
| Long-Term Investments | $3M |
| Tax Assets | $0 |
| Other Non-Current Assets | $415.0K |
| TOTAL NON-CURRENT ASSETS | $52M |
| TOTAL ASSETS | $421M |
| Account Payables | $14M |
| Short-Term Debt | $2M |
| Deferred Revenue | $5M |
| Other Current Liabilities | $8M |
| TOTAL CURRENT LIABILITIES | $41M |
| Long-Term Debt | $51M |
| Deferred Revenue NC | $517.0K |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $2M |
| TOTAL NON-CURRENT LIABILITIES | $80M |
| TOTAL LIABILITIES | $122M |
| Common Stock | $0 |
| Additional Paid-In Capital | $726M |
| Retained Earnings | -$427M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$6.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $299M |
| Minority Interest | $0 |
| TOTAL EQUITY | $299M |
| TOTAL LIABILITIES & EQUITY | $421M |
| Total Debt | $80M |
| Net Debt | -$208M |
