| Metric | Q3 2023 | Q2 2023 | Q3 2022 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $154M | $147M | $131M | 4.6% | 17.2% |
| Op. Income | -$95M | -$63M | -$40M | -49.6% | -137.0% |
| Gross Margin | 62.2% | 67.8% | 76.8% | -5.7pp | -14.6pp |
| Net Margin | -60.5% | -42.5% | -32.0% | -18.0pp | -28.5pp |
| EPS (Diluted) | $-0.79 | $-0.53 | $-0.37 | -49.1% | -113.5% |
| Free Cash Flow | -$41M | -$37M | -$46M | -10.5% | 11.7% |
| Item | Amount |
|---|---|
| REVENUE | $154M |
| Cost of Revenue | $58M |
| GROSS PROFIT | $96M |
| R&D Expenses | $108M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $82M |
| Other Expenses | $0 |
| Operating Expenses | $190M |
| Cost & Expenses | $248M |
| OPERATING INCOME | -$95M |
| Interest Income | $4M |
| Interest Expense | $1.0K |
| Other Income/Expenses | $3M |
| INCOME BEFORE TAX | -$92M |
| Income Tax Expense | $1M |
| Net Income from Continuing Ops | -$93M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$93M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$93M |
| D&A | $11M |
| EBIT | -$92M |
| EBITDA | -$80M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$93M |
| Depreciation & Amortization | $11M |
| Stock-Based Compensation | $40M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$143.0K |
| Change in Working Capital | $16M |
| OPERATING CASH FLOW | -$25M |
| Capital Expenditure | -$15M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $20M |
| Other Investing Activities | -$200.0K |
| NET CASH FROM INVESTING | $5M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $4M |
| NET CASH FROM FINANCING | $4M |
| FREE CASH FLOW | -$41M |
| Net Change in Cash | -$16M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $311M |
| Short-Term Investments | $46M |
| Net Receivables | $104M |
| Inventory | $81M |
| Other Current Assets | $21M |
| TOTAL CURRENT ASSETS | $562M |
| PP&E (Net) | $354M |
| Goodwill | $5M |
| Intangible Assets | $22M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $6M |
| TOTAL NON-CURRENT ASSETS | $386M |
| TOTAL ASSETS | $949M |
| Account Payables | $19M |
| Short-Term Debt | $0 |
| Deferred Revenue | $11M |
| Other Current Liabilities | $32M |
| TOTAL CURRENT LIABILITIES | $105M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $10M |
| TOTAL NON-CURRENT LIABILITIES | $99M |
| TOTAL LIABILITIES | $203M |
| Common Stock | $2.0K |
| Additional Paid-In Capital | $2.0B |
| Retained Earnings | -$1.2B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$677.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $745M |
| Minority Interest | $0 |
| TOTAL EQUITY | $745M |
| TOTAL LIABILITIES & EQUITY | $949M |
| Total Debt | $98M |
| Net Debt | -$213M |
