| Metric | Q1 2024 | Q4 2023 | Q1 2023 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $460M | $609M | $500M | -24.4% | -8.0% |
| Op. Income | -$375M | -$259M | -$255M | -44.8% | -47.0% |
| Gross Margin | 68.6% | 57.1% | 67.6% | 11.6pp | 1.0pp |
| Net Margin | -63.2% | -41.5% | -50.7% | -21.7pp | -12.5pp |
| EPS (Diluted) | $-0.75 | $-0.66 | $-0.67 | -13.6% | -11.9% |
| Free Cash Flow | -$15M | $61M | -$19M | -124.0% | 25.1% |
| Item | Amount |
|---|---|
| REVENUE | $460M |
| Cost of Revenue | $144M |
| GROSS PROFIT | $316M |
| R&D Expenses | $283M |
| Selling & Marketing | $231M |
| General & Administrative | $178M |
| SG&A Expenses | $408M |
| Other Expenses | $0 |
| Operating Expenses | $691M |
| Cost & Expenses | $835M |
| OPERATING INCOME | -$375M |
| Interest Income | $77M |
| Interest Expense | $6M |
| Other Income/Expenses | $71M |
| INCOME BEFORE TAX | -$304M |
| Income Tax Expense | -$13M |
| Net Income from Continuing Ops | -$291M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$291M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$291M |
| D&A | $102M |
| EBIT | -$298M |
| EBITDA | -$196M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$291M |
| Depreciation & Amortization | $102M |
| Stock-Based Compensation | $266M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$45M |
| Change in Working Capital | -$39M |
| OPERATING CASH FLOW | -$7M |
| Capital Expenditure | -$7M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$7M |
| Net Debt Issuance | -$415M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $26M |
| NET CASH FROM FINANCING | -$389M |
| FREE CASH FLOW | -$15M |
| Net Change in Cash | -$410M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $1.2B |
| Short-Term Investments | $0 |
| Net Receivables | $621M |
| Inventory | $0 |
| Other Current Assets | $140M |
| TOTAL CURRENT ASSETS | $1.9B |
| PP&E (Net) | $123M |
| Goodwill | $3.2B |
| Intangible Assets | $1.3B |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $204M |
| TOTAL NON-CURRENT ASSETS | $4.8B |
| TOTAL ASSETS | $6.8B |
| Account Payables | $19M |
| Short-Term Debt | $0 |
| Deferred Revenue | $170M |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $902M |
| Long-Term Debt | $2.2B |
| Deferred Revenue NC | $9M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $191M |
| TOTAL NON-CURRENT LIABILITIES | $2.4B |
| TOTAL LIABILITIES | $3.3B |
| Common Stock | $2.0K |
| Additional Paid-In Capital | $6.6B |
| Retained Earnings | -$3.4B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$8M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $3.2B |
| Minority Interest | $231M |
| TOTAL EQUITY | $3.4B |
| TOTAL LIABILITIES & EQUITY | $6.8B |
| Total Debt | $2.2B |
| Net Debt | $1.1B |
