| Metric | Q2 2024 | Q1 2024 | Q2 2023 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $29M | $26M | $19M | 12.0% | 51.3% |
| Op. Income | -$40M | -$140M | -$47M | 71.1% | 13.1% |
| Gross Margin | 89.9% | 89.2% | 88.4% | 0.7pp | 1.5pp |
| Net Margin | -110.9% | -544.4% | -243.0% | 433.5pp | 132.0pp |
| EPS (Diluted) | $-0.53 | $-2.35 | $-0.82 | 77.4% | 35.4% |
| Free Cash Flow | -$29M | -$81M | -$42M | 64.0% | 30.7% |
| Item | Amount |
|---|---|
| REVENUE | $29M |
| Cost of Revenue | $3M |
| GROSS PROFIT | $26M |
| R&D Expenses | $30M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $36M |
| Other Expenses | $0 |
| Operating Expenses | $67M |
| Cost & Expenses | $70M |
| OPERATING INCOME | -$40M |
| Interest Income | $4M |
| Interest Expense | $5M |
| Other Income/Expenses | $9M |
| INCOME BEFORE TAX | -$32M |
| Income Tax Expense | $479.0K |
| Net Income from Continuing Ops | -$32M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$32M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$34M |
| D&A | $390.0K |
| EBIT | -$27M |
| EBITDA | -$27M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$32M |
| Depreciation & Amortization | $390.0K |
| Stock-Based Compensation | $10M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$5M |
| Change in Working Capital | -$2M |
| OPERATING CASH FLOW | -$29M |
| Capital Expenditure | $0 |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$66M |
| Sales/Maturities of Investments | $58M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$9M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $146M |
| NET CASH FROM FINANCING | $146M |
| FREE CASH FLOW | -$29M |
| Net Change in Cash | $108M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $162M |
| Short-Term Investments | $157M |
| Net Receivables | $18M |
| Inventory | $12M |
| Other Current Assets | $9M |
| TOTAL CURRENT ASSETS | $357M |
| PP&E (Net) | $5M |
| Goodwill | $0 |
| Intangible Assets | $7M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $13M |
| TOTAL NON-CURRENT ASSETS | $24M |
| TOTAL ASSETS | $382M |
| Account Payables | $5M |
| Short-Term Debt | $0 |
| Deferred Revenue | $1M |
| Other Current Liabilities | $6M |
| TOTAL CURRENT LIABILITIES | $55M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $144M |
| TOTAL NON-CURRENT LIABILITIES | $148M |
| TOTAL LIABILITIES | $202M |
| Common Stock | $60.0K |
| Additional Paid-In Capital | $1.1B |
| Retained Earnings | -$1.1B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$617.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $179M |
| Minority Interest | $0 |
| TOTAL EQUITY | $179M |
| TOTAL LIABILITIES & EQUITY | $382M |
| Total Debt | $4M |
| Net Debt | -$158M |
