| Metric | Q2 2023 | Q1 2023 | Q2 2022 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $19M | $11M | $9M | 67.6% | 112.0% |
| Op. Income | -$47M | -$53M | -$45M | 11.3% | -3.3% |
| Gross Margin | 88.4% | 87.6% | 95.8% | 0.8pp | -7.5pp |
| Net Margin | -243.0% | -455.0% | -496.4% | 212.0pp | 253.4pp |
| EPS (Diluted) | $-0.82 | $-0.91 | $-0.89 | 9.9% | 7.9% |
| Free Cash Flow | -$42M | -$36M | -$43M | -15.0% | 2.1% |
| Item | Amount |
|---|---|
| REVENUE | $19M |
| Cost of Revenue | $2M |
| GROSS PROFIT | $17M |
| R&D Expenses | $34M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $30M |
| Other Expenses | $0 |
| Operating Expenses | $64M |
| Cost & Expenses | $66M |
| OPERATING INCOME | -$47M |
| Interest Income | $3M |
| Interest Expense | $3M |
| Other Income/Expenses | -$99.0K |
| INCOME BEFORE TAX | -$47M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | -$47M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$47M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$47M |
| D&A | $442.0K |
| EBIT | -$43M |
| EBITDA | -$43M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$47M |
| Depreciation & Amortization | $442.0K |
| Stock-Based Compensation | $9M |
| Deferred Income Tax | $135.0K |
| Other Non-Cash Items | $3M |
| Change in Working Capital | -$7M |
| OPERATING CASH FLOW | -$41M |
| Capital Expenditure | -$875.0K |
| Acquisitions (Net) | $875.0K |
| Purchases of Investments | -$75M |
| Sales/Maturities of Investments | $125M |
| Other Investing Activities | -$875.0K |
| NET CASH FROM INVESTING | $48M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$1M |
| NET CASH FROM FINANCING | -$965.0K |
| FREE CASH FLOW | -$42M |
| Net Change in Cash | $6M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $116M |
| Short-Term Investments | $138M |
| Net Receivables | $14M |
| Inventory | $6M |
| Other Current Assets | $10M |
| TOTAL CURRENT ASSETS | $284M |
| PP&E (Net) | $3M |
| Goodwill | $0 |
| Intangible Assets | $7M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $16M |
| TOTAL NON-CURRENT ASSETS | $26M |
| TOTAL ASSETS | $310M |
| Account Payables | $8M |
| Short-Term Debt | $0 |
| Deferred Revenue | $1M |
| Other Current Liabilities | $3M |
| TOTAL CURRENT LIABILITIES | $46M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $81M |
| TOTAL NON-CURRENT LIABILITIES | $82M |
| TOTAL LIABILITIES | $128M |
| Common Stock | $57.0K |
| Additional Paid-In Capital | $991M |
| Retained Earnings | -$809M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$14.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $182M |
| Minority Interest | $0 |
| TOTAL EQUITY | $182M |
| TOTAL LIABILITIES & EQUITY | $310M |
| Total Debt | $2M |
| Net Debt | -$114M |
