| Metric | Q2 2024 | Q1 2024 | Q2 2023 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $744M | $596M | $793M | 24.8% | -6.2% |
| Op. Income | -$187M | -$132M | -$331M | -41.4% | 43.5% |
| Gross Margin | 40.3% | 48.0% | 30.1% | -7.8pp | 10.1pp |
| Net Margin | -26.2% | -26.7% | -42.3% | 0.5pp | 16.1pp |
| EPS (Diluted) | $-0.54 | $-0.44 | $-0.98 | -22.7% | 44.9% |
| Free Cash Flow | -$37M | -$83M | -$94M | 55.5% | 60.7% |
| Item | Amount |
|---|---|
| REVENUE | $744M |
| Cost of Revenue | $444M |
| GROSS PROFIT | $299M |
| R&D Expenses | $80M |
| Selling & Marketing | $224M |
| General & Administrative | $155M |
| SG&A Expenses | $379M |
| Other Expenses | $28M |
| Operating Expenses | $487M |
| Cost & Expenses | $931M |
| OPERATING INCOME | -$187M |
| Interest Income | $8M |
| Interest Expense | $28M |
| Other Income/Expenses | -$10M |
| INCOME BEFORE TAX | -$197M |
| Income Tax Expense | -$2M |
| Net Income from Continuing Ops | -$195M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$195M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$195M |
| D&A | $25M |
| EBIT | -$169M |
| EBITDA | -$144M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$195M |
| Depreciation & Amortization | $25M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $85M |
| Change in Working Capital | $54M |
| OPERATING CASH FLOW | -$31M |
| Capital Expenditure | -$6M |
| Acquisitions (Net) | $15M |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $9M |
| Net Debt Issuance | -$2M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $2M |
| NET CASH FROM FINANCING | $9M |
| FREE CASH FLOW | -$37M |
| Net Change in Cash | -$11M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $738M |
| Short-Term Investments | $0 |
| Net Receivables | $141M |
| Inventory | $427M |
| Other Current Assets | $221M |
| TOTAL CURRENT ASSETS | $1.5B |
| PP&E (Net) | $898M |
| Goodwill | $41M |
| Intangible Assets | $20M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $84M |
| TOTAL NON-CURRENT ASSETS | $1.0B |
| TOTAL ASSETS | $2.6B |
| Account Payables | $0 |
| Short-Term Debt | $8M |
| Deferred Revenue | $189M |
| Other Current Liabilities | $518M |
| TOTAL CURRENT LIABILITIES | $793M |
| Long-Term Debt | $1.7B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $27M |
| TOTAL NON-CURRENT LIABILITIES | $2.3B |
| TOTAL LIABILITIES | $3.1B |
| Common Stock | $0 |
| Additional Paid-In Capital | $4.8B |
| Retained Earnings | -$5.3B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $20M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | -$499M |
| Minority Interest | $0 |
| TOTAL EQUITY | -$499M |
| TOTAL LIABILITIES & EQUITY | $2.6B |
| Total Debt | $2.3B |
| Net Debt | $1.6B |
