| Metric | Q2 2024 | Q1 2024 | Q2 2023 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $187M | $210M | $214M | -11.1% | -12.7% |
| Op. Income | -$40M | -$45M | -$210M | 11.5% | 80.8% |
| Gross Margin | 91.7% | 93.0% | 94.0% | -1.3pp | -2.4pp |
| Net Margin | -53.1% | -43.6% | -93.0% | -9.5pp | 39.9pp |
| EPS (Diluted) | $-1.29 | $-1.20 | $-2.66 | -7.5% | 51.5% |
| Free Cash Flow | -$64M | $6M | -$33M | -1099.7% | -91.8% |
| Item | Amount |
|---|---|
| REVENUE | $187M |
| Cost of Revenue | $16M |
| GROSS PROFIT | $171M |
| R&D Expenses | $132M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $70M |
| Other Expenses | $10M |
| Operating Expenses | $211M |
| Cost & Expenses | $227M |
| OPERATING INCOME | -$40M |
| Interest Income | $0 |
| Interest Expense | $43M |
| Other Income/Expenses | -$46M |
| INCOME BEFORE TAX | -$86M |
| Income Tax Expense | $13M |
| Net Income from Continuing Ops | -$99M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$99M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$99M |
| D&A | $7M |
| EBIT | -$42M |
| EBITDA | -$35M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$99M |
| Depreciation & Amortization | $7M |
| Stock-Based Compensation | $19M |
| Deferred Income Tax | $2.0K |
| Other Non-Cash Items | $13M |
| Change in Working Capital | -$11M |
| OPERATING CASH FLOW | -$71M |
| Capital Expenditure | $7M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$196M |
| Sales/Maturities of Investments | $94M |
| Other Investing Activities | $28M |
| NET CASH FROM INVESTING | -$66M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $246M |
| NET CASH FROM FINANCING | $246M |
| FREE CASH FLOW | -$64M |
| Net Change in Cash | $104M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $655M |
| Short-Term Investments | $439M |
| Net Receivables | $187M |
| Inventory | $32M |
| Other Current Assets | $46M |
| TOTAL CURRENT ASSETS | $1.4B |
| PP&E (Net) | $123M |
| Goodwill | $82M |
| Intangible Assets | $330M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $23M |
| TOTAL NON-CURRENT ASSETS | $558M |
| TOTAL ASSETS | $1.9B |
| Account Payables | $24M |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $358M |
| TOTAL CURRENT LIABILITIES | $610M |
| Long-Term Debt | $285M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $56M |
| Other Non-Current Liabilities | $1.9B |
| TOTAL NON-CURRENT LIABILITIES | $2.3B |
| TOTAL LIABILITIES | $2.9B |
| Common Stock | $76.0K |
| Additional Paid-In Capital | $2.5B |
| Retained Earnings | -$3.5B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$16M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | -$980M |
| Minority Interest | $0 |
| TOTAL EQUITY | -$980M |
| TOTAL LIABILITIES & EQUITY | $1.9B |
| Total Debt | $396M |
| Net Debt | -$259M |
