| Metric | Q1 2025 | Q4 2024 | Q1 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $2.7B | $3.1B | $2.7B | -12.5% | 0.0% |
| Op. Income | -$122M | -$117M | -$235M | -4.3% | 48.1% |
| Gross Margin | 30.7% | 30.2% | 30.0% | 0.5pp | 0.6pp |
| Net Margin | -4.1% | -4.1% | -9.1% | -0.0pp | 4.9pp |
| EPS (Diluted) | $-0.89 | $-1.02 | $-2.07 | 12.7% | 57.0% |
| Free Cash Flow | -$101M | $102M | -$193M | -199.0% | 47.7% |
| Item | Amount |
|---|---|
| REVENUE | $2.7B |
| Cost of Revenue | $1.9B |
| GROSS PROFIT | $837M |
| R&D Expenses | $0 |
| Selling & Marketing | $451M |
| General & Administrative | $429M |
| SG&A Expenses | $880M |
| Other Expenses | $79M |
| Operating Expenses | $959M |
| Cost & Expenses | $2.9B |
| OPERATING INCOME | -$122M |
| Interest Income | $0 |
| Interest Expense | $23M |
| Other Income/Expenses | $12M |
| INCOME BEFORE TAX | -$110M |
| Income Tax Expense | $3M |
| Net Income from Continuing Ops | -$113M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$113M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$113M |
| D&A | $81M |
| EBIT | -$87M |
| EBITDA | -$6M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$113M |
| Depreciation & Amortization | $81M |
| Stock-Based Compensation | $64M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $13M |
| Change in Working Capital | -$141M |
| OPERATING CASH FLOW | -$96M |
| Capital Expenditure | -$5M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$18M |
| Sales/Maturities of Investments | $44M |
| Other Investing Activities | -$38M |
| NET CASH FROM INVESTING | -$17M |
| Net Debt Issuance | $140M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $140M |
| FREE CASH FLOW | -$101M |
| Net Change in Cash | $18M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $1.3B |
| Short-Term Investments | $30M |
| Net Receivables | $140M |
| Inventory | $90M |
| Other Current Assets | $295M |
| TOTAL CURRENT ASSETS | $1.9B |
| PP&E (Net) | $1.5B |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $58M |
| TOTAL NON-CURRENT ASSETS | $1.5B |
| TOTAL ASSETS | $3.4B |
| Account Payables | $1.1B |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $1.2B |
| TOTAL CURRENT LIABILITIES | $2.3B |
| Long-Term Debt | $3.0B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $31M |
| TOTAL NON-CURRENT LIABILITIES | $3.9B |
| TOTAL LIABILITIES | $6.2B |
| Common Stock | $0 |
| Additional Paid-In Capital | $1.8B |
| Retained Earnings | -$4.6B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$7M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | -$2.8B |
| Minority Interest | $0 |
| TOTAL EQUITY | -$2.8B |
| TOTAL LIABILITIES & EQUITY | $3.4B |
| Total Debt | $3.9B |
| Net Debt | $2.6B |
