| Metric | Q1 2024 | Q4 2023 | Q1 2023 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $345M | — | $546M | — | -36.8% |
| Op. Income | -$232M | — | -$199M | — | -16.2% |
| Gross Margin | -8.9% | — | 3.4% | — | -12.3pp |
| Net Margin | -79.4% | — | -1.6% | — | -77.8pp |
| EPS (Diluted) | $-3.90 | — | $-0.13 | — | -2923.3% |
| Free Cash Flow | -$229M | — | -$416M | — | 45.0% |
| Item | Amount |
|---|---|
| REVENUE | $345M |
| Cost of Revenue | $376M |
| GROSS PROFIT | -$31M |
| R&D Expenses | $12M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $212M |
| Other Expenses | -$23M |
| Operating Expenses | $201M |
| Cost & Expenses | $577M |
| OPERATING INCOME | -$232M |
| Interest Income | $3M |
| Interest Expense | $127M |
| Other Income/Expenses | -$39M |
| INCOME BEFORE TAX | -$271M |
| Income Tax Expense | $3M |
| Net Income from Continuing Ops | -$274M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$274M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$274M |
| D&A | $0 |
| EBIT | -$144M |
| EBITDA | -$144M |
| EPS | -$4 |
| EPS Diluted | -$4 |
| Item | Amount |
|---|---|
| Net Income | -$274M |
| Depreciation & Amortization | $24M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $21M |
| Change in Working Capital | $0 |
| OPERATING CASH FLOW | -$229M |
| Capital Expenditure | $0 |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$188M |
| NET CASH FROM INVESTING | -$188M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $464M |
| NET CASH FROM FINANCING | $464M |
| FREE CASH FLOW | -$229M |
| Net Change in Cash | $15M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $784M |
| Short-Term Investments | $0 |
| Net Receivables | $0 |
| Inventory | $0 |
| Other Current Assets | $1.2B |
| TOTAL CURRENT ASSETS | $2.0B |
| PP&E (Net) | $0 |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $1.9B |
| TOTAL NON-CURRENT ASSETS | $1.9B |
| TOTAL ASSETS | $3.9B |
| Account Payables | $0 |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $2.8B |
| TOTAL CURRENT LIABILITIES | $2.8B |
| Long-Term Debt | $2.7B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $0 |
| TOTAL NON-CURRENT LIABILITIES | $2.7B |
| TOTAL LIABILITIES | $5.5B |
| Common Stock | -$1.5B |
| Additional Paid-In Capital | $0 |
| Retained Earnings | $0 |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | -$1.5B |
| Minority Interest | $0 |
| TOTAL EQUITY | -$1.5B |
| TOTAL LIABILITIES & EQUITY | $3.9B |
| Total Debt | $2.7B |
| Net Debt | $1.9B |
