| Metric | Q2 2023 | Q1 2023 | Q2 2022 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $44M | $50M | $43M | -11.3% | 1.5% |
| Op. Income | -$6M | -$10M | -$16M | 40.4% | 61.1% |
| Gross Margin | 21.1% | 18.7% | 7.5% | 2.4pp | 13.5pp |
| Net Margin | -14.6% | -35.8% | -42.7% | 21.2pp | 28.1pp |
| EPS (Diluted) | $-0.52 | $-1.42 | $-1.49 | 63.4% | 65.1% |
| Free Cash Flow | -$8M | -$1M | -$10M | -618.5% | 20.2% |
| Item | Amount |
|---|---|
| REVENUE | $44M |
| Cost of Revenue | $35M |
| GROSS PROFIT | $9M |
| R&D Expenses | $4M |
| Selling & Marketing | $875.0K |
| General & Administrative | $5M |
| SG&A Expenses | $6M |
| Other Expenses | $6M |
| Operating Expenses | $15M |
| Cost & Expenses | $50M |
| OPERATING INCOME | -$6M |
| Interest Income | $0 |
| Interest Expense | $13M |
| Other Income/Expenses | -$272.0K |
| INCOME BEFORE TAX | -$6M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | -$6M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$6M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$6M |
| D&A | $230.0K |
| EBIT | $7M |
| EBITDA | $7M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$6M |
| Depreciation & Amortization | $230.0K |
| Stock-Based Compensation | $76.0K |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$2M |
| Change in Working Capital | -$38.0K |
| OPERATING CASH FLOW | -$8M |
| Capital Expenditure | $0 |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $0 |
| Net Debt Issuance | $12M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$291.0K |
| NET CASH FROM FINANCING | $12M |
| FREE CASH FLOW | -$8M |
| Net Change in Cash | $4M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $12M |
| Short-Term Investments | $0 |
| Net Receivables | $29M |
| Inventory | $0 |
| Other Current Assets | $1M |
| TOTAL CURRENT ASSETS | $43M |
| PP&E (Net) | $2M |
| Goodwill | $0 |
| Intangible Assets | $31.0K |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $468.0K |
| TOTAL NON-CURRENT ASSETS | $3M |
| TOTAL ASSETS | $46M |
| Account Payables | $9M |
| Short-Term Debt | $123M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $27M |
| TOTAL CURRENT LIABILITIES | $193M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $9M |
| TOTAL NON-CURRENT LIABILITIES | $11M |
| TOTAL LIABILITIES | $205M |
| Common Stock | $0 |
| Additional Paid-In Capital | $48M |
| Retained Earnings | -$254M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | -$159M |
| Minority Interest | $0 |
| TOTAL EQUITY | -$159M |
| TOTAL LIABILITIES & EQUITY | $46M |
| Total Debt | $126M |
| Net Debt | $114M |
