| Metric | Q2 2023 | Q1 2023 | Q2 2022 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $793M | $617M | $1.1B | 28.6% | -30.1% |
| Op. Income | -$331M | -$374M | -$426M | 11.4% | 22.2% |
| Gross Margin | 30.1% | 35.2% | 24.8% | -5.1pp | 5.3pp |
| Net Margin | -42.3% | -66.3% | -38.8% | 24.0pp | -3.6pp |
| EPS (Diluted) | $-0.98 | $-1.20 | $-1.39 | 18.3% | 29.5% |
| Free Cash Flow | -$94M | -$247M | -$538M | 61.7% | 82.4% |
| Item | Amount |
|---|---|
| REVENUE | $793M |
| Cost of Revenue | $554M |
| GROSS PROFIT | $239M |
| R&D Expenses | $80M |
| Selling & Marketing | $217M |
| General & Administrative | $173M |
| SG&A Expenses | $390M |
| Other Expenses | $100M |
| Operating Expenses | $570M |
| Cost & Expenses | $1.1B |
| OPERATING INCOME | -$331M |
| Interest Income | $6M |
| Interest Expense | $22M |
| Other Income/Expenses | -$2M |
| INCOME BEFORE TAX | -$334M |
| Income Tax Expense | $2M |
| Net Income from Continuing Ops | -$335M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$335M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$335M |
| D&A | $32M |
| EBIT | -$232M |
| EBITDA | -$200M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$335M |
| Depreciation & Amortization | $32M |
| Stock-Based Compensation | $82M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $24M |
| Change in Working Capital | $110M |
| OPERATING CASH FLOW | -$89M |
| 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 | -$2M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $28M |
| NET CASH FROM FINANCING | $26M |
| FREE CASH FLOW | -$94M |
| Net Change in Cash | -$65M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $871M |
| Short-Term Investments | $0 |
| Net Receivables | $125M |
| Inventory | $791M |
| Other Current Assets | $272M |
| TOTAL CURRENT ASSETS | $2.1B |
| PP&E (Net) | $1.1B |
| Goodwill | $41M |
| Intangible Assets | $33M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $110M |
| TOTAL NON-CURRENT ASSETS | $1.2B |
| TOTAL ASSETS | $3.3B |
| Account Payables | $0 |
| Short-Term Debt | $8M |
| Deferred Revenue | $211M |
| Other Current Liabilities | $599M |
| TOTAL CURRENT LIABILITIES | $903M |
| Long-Term Debt | $1.7B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $44M |
| TOTAL NON-CURRENT LIABILITIES | $2.4B |
| TOTAL LIABILITIES | $3.3B |
| Common Stock | $0 |
| Additional Paid-In Capital | $4.4B |
| Retained Earnings | -$4.4B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $21M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $31M |
| Minority Interest | $0 |
| TOTAL EQUITY | $31M |
| TOTAL LIABILITIES & EQUITY | $3.3B |
| Total Debt | $2.4B |
| Net Debt | $1.5B |
