| Metric | Q3 2023 | Q2 2023 | Q3 2022 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $613M | $685M | $435M | -10.5% | 40.8% |
| Op. Income | -$261M | -$274M | -$196M | 4.8% | -33.0% |
| Gross Margin | 0.6% | -0.1% | 0.9% | 0.7pp | -0.3pp |
| Net Margin | -25.3% | -44.4% | 68.8% | 19.0pp | -94.1pp |
| EPS (Diluted) | $-2.21 | $-4.20 | $4.20 | 47.4% | -152.6% |
| Free Cash Flow | -$736M | -$527M | -$760M | -39.6% | 3.1% |
| Item | Amount |
|---|---|
| REVENUE | $613M |
| Cost of Revenue | $610M |
| GROSS PROFIT | $4M |
| R&D Expenses | $55M |
| Selling & Marketing | $0 |
| General & Administrative | $236M |
| SG&A Expenses | $236M |
| Other Expenses | -$26M |
| Operating Expenses | $265M |
| Cost & Expenses | $874M |
| OPERATING INCOME | -$261M |
| Interest Income | $9M |
| Interest Expense | $63M |
| Other Income/Expenses | $108M |
| INCOME BEFORE TAX | -$153M |
| Income Tax Expense | $3M |
| Net Income from Continuing Ops | -$155M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$155M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$155M |
| D&A | $44M |
| EBIT | -$89M |
| EBITDA | -$45M |
| EPS | -$2 |
| EPS Diluted | -$2 |
| Item | Amount |
|---|---|
| Net Income | -$155M |
| Depreciation & Amortization | $44M |
| Stock-Based Compensation | $984.0K |
| Deferred Income Tax | $3M |
| Other Non-Cash Items | -$47M |
| Change in Working Capital | -$459M |
| OPERATING CASH FLOW | -$674M |
| Capital Expenditure | -$62M |
| Acquisitions (Net) | $37.0K |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $154M |
| NET CASH FROM INVESTING | $92M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $481M |
| NET CASH FROM FINANCING | $481M |
| FREE CASH FLOW | -$736M |
| Net Change in Cash | -$106M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $951M |
| Short-Term Investments | $0 |
| Net Receivables | $341M |
| Inventory | $1.0B |
| Other Current Assets | $265M |
| TOTAL CURRENT ASSETS | $2.5B |
| PP&E (Net) | $354M |
| Goodwill | $44M |
| Intangible Assets | $1.5B |
| Long-Term Investments | $2M |
| Tax Assets | $18M |
| Other Non-Current Assets | $4M |
| TOTAL NON-CURRENT ASSETS | $1.9B |
| TOTAL ASSETS | $4.4B |
| Account Payables | $728M |
| Short-Term Debt | $2.9B |
| Deferred Revenue | $120M |
| Other Current Liabilities | $420M |
| TOTAL CURRENT LIABILITIES | $4.5B |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $61M |
| Deferred Tax Liabilities | $461.0K |
| Other Non-Current Liabilities | $379M |
| TOTAL NON-CURRENT LIABILITIES | $514M |
| TOTAL LIABILITIES | $5.0B |
| Common Stock | $21M |
| Additional Paid-In Capital | $3.6B |
| Retained Earnings | -$4.2B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$43M |
| Other Equity | $1.0K |
| TOTAL STOCKHOLDERS' EQUITY | -$629M |
| Minority Interest | $0 |
| TOTAL EQUITY | -$629M |
| TOTAL LIABILITIES & EQUITY | $4.4B |
| Total Debt | $3.0B |
| Net Debt | $2.0B |
