| Metric | Q3 2023 | Q2 2023 | Q3 2022 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $419M | $388M | $287M | 8.1% | 46.0% |
| Op. Income | -$48M | -$61M | -$87M | 21.0% | 44.4% |
| Gross Margin | 77.1% | 77.5% | 77.6% | -0.4pp | -0.5pp |
| Net Margin | -11.0% | -14.8% | -35.4% | 3.8pp | 24.4pp |
| EPS (Diluted) | $-0.32 | $-0.40 | $-0.72 | 20.0% | 55.6% |
| Free Cash Flow | $74M | $63M | $44M | 17.6% | 68.9% |
| Item | Amount |
|---|---|
| REVENUE | $419M |
| Cost of Revenue | $96M |
| GROSS PROFIT | $323M |
| R&D Expenses | $92M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $279M |
| Other Expenses | $0 |
| Operating Expenses | $371M |
| Cost & Expenses | $467M |
| OPERATING INCOME | -$48M |
| Interest Income | $19M |
| Interest Expense | $1M |
| Other Income/Expenses | $9M |
| INCOME BEFORE TAX | -$39M |
| Income Tax Expense | $7M |
| Net Income from Continuing Ops | -$46M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$46M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$46M |
| D&A | $26M |
| EBIT | -$38M |
| EBITDA | -$12M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$46M |
| Depreciation & Amortization | $18M |
| Stock-Based Compensation | $108M |
| Deferred Income Tax | $149.0K |
| Other Non-Cash Items | $32M |
| Change in Working Capital | -$3M |
| OPERATING CASH FLOW | $108M |
| Capital Expenditure | -$35M |
| Acquisitions (Net) | -$16M |
| Purchases of Investments | -$227M |
| Sales/Maturities of Investments | $186M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$91M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $1M |
| FREE CASH FLOW | $74M |
| Net Change in Cash | $18M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $1.3B |
| Short-Term Investments | $693M |
| Net Receivables | $376M |
| Inventory | $0 |
| Other Current Assets | $183M |
| TOTAL CURRENT ASSETS | $2.5B |
| PP&E (Net) | $291M |
| Goodwill | $89M |
| Intangible Assets | $29M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $264M |
| TOTAL NON-CURRENT ASSETS | $673M |
| TOTAL ASSETS | $3.2B |
| Account Payables | $25M |
| Short-Term Debt | $0 |
| Deferred Revenue | $1.1B |
| Other Current Liabilities | $123M |
| TOTAL CURRENT LIABILITIES | $1.3B |
| Long-Term Debt | $1.1B |
| Deferred Revenue NC | $116M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $10M |
| TOTAL NON-CURRENT LIABILITIES | $1.3B |
| TOTAL LIABILITIES | $2.6B |
| Common Stock | $146.0K |
| Additional Paid-In Capital | $1.7B |
| Retained Earnings | -$1.1B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$102.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $601M |
| Minority Interest | $0 |
| TOTAL EQUITY | $601M |
| TOTAL LIABILITIES & EQUITY | $3.2B |
| Total Debt | $1.2B |
| Net Debt | -$61M |
