| Metric | Q3 2024 | Q2 2024 | Q3 2023 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $197M | $187M | $197M | 5.4% | 0.1% |
| Op. Income | -$55M | -$40M | -$118M | -35.5% | 53.9% |
| Gross Margin | 94.5% | 91.7% | 95.2% | 2.8pp | -0.7pp |
| Net Margin | -54.2% | -53.1% | -67.6% | -1.1pp | 13.4pp |
| EPS (Diluted) | $-1.39 | $-1.29 | $-1.76 | -7.8% | 21.0% |
| Free Cash Flow | -$88M | -$64M | -$44M | -37.0% | -100.7% |
| Item | Amount |
|---|---|
| REVENUE | $197M |
| Cost of Revenue | $11M |
| GROSS PROFIT | $186M |
| R&D Expenses | $161M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $73M |
| Other Expenses | $6M |
| Operating Expenses | $240M |
| Cost & Expenses | $251M |
| OPERATING INCOME | -$55M |
| Interest Income | $0 |
| Interest Expense | $42M |
| Other Income/Expenses | -$43M |
| INCOME BEFORE TAX | -$98M |
| Income Tax Expense | $9M |
| Net Income from Continuing Ops | -$107M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$107M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$107M |
| D&A | $6M |
| EBIT | -$56M |
| EBITDA | -$50M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$107M |
| Depreciation & Amortization | $6M |
| Stock-Based Compensation | $20M |
| Deferred Income Tax | -$3.0K |
| Other Non-Cash Items | -$8M |
| Change in Working Capital | $12M |
| OPERATING CASH FLOW | -$77M |
| Capital Expenditure | -$11M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$217M |
| Sales/Maturities of Investments | $185M |
| Other Investing Activities | -$10M |
| NET CASH FROM INVESTING | -$43M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$18M |
| NET CASH FROM FINANCING | -$18M |
| FREE CASH FLOW | -$88M |
| Net Change in Cash | -$129M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $526M |
| Short-Term Investments | $487M |
| Net Receivables | $200M |
| Inventory | $36M |
| Other Current Assets | $33M |
| TOTAL CURRENT ASSETS | $1.3B |
| PP&E (Net) | $123M |
| Goodwill | $82M |
| Intangible Assets | $330M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $25M |
| TOTAL NON-CURRENT ASSETS | $561M |
| TOTAL ASSETS | $1.8B |
| Account Payables | $13M |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $370M |
| TOTAL CURRENT LIABILITIES | $611M |
| Long-Term Debt | $285M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $56M |
| Other Non-Current Liabilities | $1.8B |
| TOTAL NON-CURRENT LIABILITIES | $2.3B |
| TOTAL LIABILITIES | $2.9B |
| Common Stock | $76.0K |
| Additional Paid-In Capital | $2.5B |
| Retained Earnings | -$3.6B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$4M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | -$1.1B |
| Minority Interest | $0 |
| TOTAL EQUITY | -$1.1B |
| TOTAL LIABILITIES & EQUITY | $1.8B |
| Total Debt | $400M |
| Net Debt | -$126M |
