Income Statement | | | | | | | | | | |
| | | | | | | Original | | | |
USD | Fiscal Year Ending | | Latest | | Year-to-date Ending |
(in millions) | Dec-20 | Dec-21 | Dec-22 | Dec-23 | Dec-24 | | Dec-24 | | Dec-23 | Dec-24 |
| FY - 4 | FY - 3 | FY - 2 | FY - 1 | FY | | LTM | | YTD-1 | YTD |
| | | | | | | | | | |
Revenue | 21 | 34 | 65 | 94 | 102 | | 102 | | 94 | 102 |
% Growth | NA | 61.3% | 91.7% | 44.6% | 8.0% | | | | | 8.0% |
| | | | | | | | | | |
Cost of Revenue | (24) | (35) | (36) | (34) | (27) | | (27) | | (34) | (27) |
Gross Profit | (3) | (1) | 30 | 61 | 75 | | 75 | | 61 | 75 |
% Revenue | -12.9% | -1.9% | 45.2% | 64.2% | 73.1% | | 73.1% | | 64.2% | 73.1% |
| | | | | | | | | | |
Research and Development | (7) | (2) | (2) | (2) | (2) | | (2) | | (2) | (2) |
Selling and Marketing | (1) | (1) | (1) | (2) | (2) | | (2) | | (2) | (2) |
General and Admin | (28) | (86) | (78) | (71) | (73) | | (73) | | (71) | (73) |
Other Inc / (Exp) | (4) | (150) | (19) | (32) | (44) | | (44) | | (32) | (44) |
Total Operating Exp | (40) | (238) | (100) | (107) | (121) | | (121) | | (107) | (121) |
| | | | | | | | | | |
Operating Income | (43) | (239) | (71) | (46) | (46) | | (46) | | (46) | (46) |
% Revenue | -201.2% | -700.4% | -108.0% | -48.6% | -45.3% | | -45.3% | | -48.6% | -45.3% |
| | | | | | | | | | |
Interest Expense | (5) | (5) | (4) | (7) | (11) | | (11) | | (7) | (11) |
Pre-tax Income | (48) | (244) | (75) | (53) | (57) | | (57) | | (53) | (57) |
Earnings of Discontinued Ops. | 28 | (2) | 1 | 0 | 0 | | 0 | | 0 | 0 |
Provision for Taxes | 0 | 0 | 0 | (1) | (0) | | (0) | | (1) | (0) |
Net Income to Company | (20) | (246) | (74) | (54) | (57) | | (57) | | (54) | (57) |
% Margin | -92.4% | -720.7% | -113.5% | -57.0% | -56.0% | | -56.0% | | -57.0% | -56.0% |
| | | | | | | | | | |
Minority Interest in Earnings | 0 | 0 | 0 | 0 | 0 | | 0 | | 0 | 0 |
Net Income to Stockholders | (20) | (246) | (74) | (54) | (57) | | (57) | | (54) | (57) |
| | | | | | | | | | |
Preferred Dividends | 0 | 0 | 0 | 0 | 0 | | 0 | | 0 | 0 |
Other Adj. | (28) | 2 | (1) | 0 | 0 | | 0 | | 0 | 0 |
| | | | | | | | | | |
Net Income to Common | (48) | (244) | (75) | (54) | (57) | | (57) | | (54) | (57) |
% Margin | -225.8% | -715.8% | -114.6% | -57.0% | -56.0% | | -56.0% | | -57.0% | -56.0% |
| | | | | | | | | | |
As Reported | | | | | | | | | | |
Basic EPS (Continuing Ops) | (11.57) | (26.94) | (5.08) | (3.18) | (2.67) | | (2.67) | | (3.18) | (2.67) |
Diluted EPS (Continuing Ops) | (11.60) | (26.94) | (5.08) | (3.18) | (2.67) | | (2.67) | | (3.18) | (2.67) |
| | | | | | | | | | |
WA Basic Shares Out. | 4.13 | 9.06 | 14.73 | 16.93 | 21.44 | | 21.44 | | 16.93 | 21.44 |
WA Diluted Shares Out. | 4.13 | 9.06 | 14.73 | 16.93 | 21.44 | | 21.44 | | 16.93 | 21.44 |
| | | | | | | | | | |
EBITDA, EBIT Reconciliation | | | | | | | | | | |
EBT, Incl. Unusual Items | (48) | (244) | (75) | (53) | (57) | | (57) | | (53) | (57) |
Addback: Net Interest Expense | 5 | 5 | 4 | 7 | 11 | | 11 | | 7 | 11 |
Addback: Other Non Operating Expenses, Total | 1 | (25) | (14) | (12) | 2 | | 2 | | (12) | 2 |
Addback: Depreciation & Amortization | 10 | 14 | 36 | 43 | 44 | | 44 | | 43 | 44 |
Addback: Restructuring Charges | 0 | 0 | 0 | 0 | 0 | | 0 | | 0 | 0 |
Addback: Merger / Acquisition Expenses | 0 | 0 | 0 | 0 | 0 | | 0 | | 0 | 0 |
Addback: Goodwill Impairment | 0 | 0 | 0 | 0 | 0 | | 0 | | 0 | 0 |
Addback: Gain (Loss) On Sale Of Invest. | 0 | 0 | 0 | 0 | 0 | | 0 | | 0 | 0 |
Addback: Gain (Loss) On Sale Of Assets | 0 | 0 | 0 | 0 | 0 | | 0 | | 0 | 0 |
Addback: Asset Writedown | 0 | 18 | 0 | 0 | 0 | | 0 | | 0 | 0 |
Addback: In Process R&D Expenses | 0 | 0 | 0 | 0 | 0 | | 0 | | 0 | 0 |
Addback: Insurance Settlements | 0 | 0 | 0 | 0 | 0 | | 0 | | 0 | 0 |
Addback: Legal Settlements | 0 | 0 | 0 | 0 | 0 | | 0 | | 0 | 0 |
Addback: Other Unusual Items | (0) | 143 | (2) | 2 | (1) | | (1) | | 2 | (1) |
Adjusted EBITDA | (32) | (87) | (51) | (13) | (1) | | (1) | | (13) | (1) |
% Margin | -149.5% | -256.5% | -77.9% | -13.3% | -1.2% | | -1.2% | | -13.3% | -1.2% |
| | | | | | | | | | |
Adjusted EBIT | (41) | (102) | (87) | (56) | (45) | | (45) | | (56) | (45) |
% Margin | -195.9% | -298.5% | -132.4% | -59.2% | -43.9% | | -43.9% | | -59.2% | -43.9% |
| | | | | | | | | | |
Adjusted Net Income Reconciliation | | | | | | | | | | |
Net Income to Company | (20) | (246) | (74) | (54) | (57) | | (57) | | (54) | (57) |
Addback: Unusual Items | (0) | 162 | (2) | 2 | (1) | | (1) | | 2 | (1) |
Less: Tax Benefit of Unusual Items (26%) | 0 | (42) | 1 | (0) | 0 | | 0 | | (0) | 0 |
Adjusted Net Income | (20) | (126) | (76) | (53) | (58) | | (58) | | (53) | (58) |
% Margin | -93.4% | -369.8% | -115.8% | -55.6% | -56.4% | | -56.4% | | -55.6% | -56.4% |