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 | 91 | 26 | 20 | 78 | 32 | | 32 | | 78 | 32 |
% Growth | NA | -71.8% | -22.8% | 296.3% | -58.6% | | | | | -58.6% |
| | | | | | | | | | |
Cost of Revenue | (158) | (143) | (175) | (178) | (199) | | (199) | | (178) | (199) |
Gross Profit | (67) | (117) | (155) | (100) | (167) | | (167) | | (100) | (167) |
% Revenue | -74.1% | -457.9% | -787.6% | -127.4% | -516.6% | | -516.6% | | -127.4% | -516.6% |
| | | | | | | | | | |
Research and Development | (158) | (143) | (175) | (178) | (199) | | (199) | | (178) | (199) |
Selling and Marketing | 0 | 0 | 0 | 0 | 0 | | 0 | | 0 | 0 |
General and Admin | (68) | (76) | (71) | (70) | (72) | | (72) | | (70) | (72) |
Other Inc / (Exp) | 174 | 143 | 175 | 176 | 187 | | 187 | | 176 | 187 |
Total Operating Exp | (51) | (76) | (71) | (71) | (84) | | (84) | | (71) | (84) |
| | | | | | | | | | |
Operating Income | (119) | (193) | (226) | (171) | (251) | | (251) | | (171) | (251) |
% Revenue | -130.7% | -756.0% | -1146.3% | -218.6% | -777.2% | | -777.2% | | -218.6% | -777.2% |
| | | | | | | | | | |
Interest Expense | 3 | 1 | 6 | 18 | 14 | | 14 | | 18 | 14 |
Pre-tax Income | (116) | (193) | (220) | (153) | (237) | | (237) | | (153) | (237) |
Earnings of Discontinued Ops. | 0 | 0 | 0 | 0 | 0 | | 0 | | 0 | 0 |
Provision for Taxes | 0 | 0 | 0 | 0 | 0 | | 0 | | 0 | 0 |
Net Income to Company | (116) | (193) | (220) | (153) | (237) | | (237) | | (153) | (237) |
% Margin | -127.8% | -753.6% | -1118.3% | -196.1% | -733.7% | | -733.7% | | -196.1% | -733.7% |
| | | | | | | | | | |
Minority Interest in Earnings | 0 | 0 | 0 | 0 | 0 | | 0 | | 0 | 0 |
Net Income to Stockholders | (116) | (193) | (220) | (153) | (237) | | (237) | | (153) | (237) |
| | | | | | | | | | |
Preferred Dividends | 0 | 0 | 0 | 0 | 0 | | 0 | | 0 | 0 |
Other Adj. | 0 | 0 | 0 | 0 | 0 | | 0 | | 0 | 0 |
| | | | | | | | | | |
Net Income to Common | (116) | (193) | (220) | (153) | (237) | | (237) | | (153) | (237) |
% Margin | -127.8% | -753.6% | -1118.3% | -196.1% | -733.7% | | -733.7% | | -196.1% | -733.7% |
| | | | | | | | | | |
As Reported | | | | | | | | | | |
Basic EPS (Continuing Ops) | (1.98) | (2.85) | (3.21) | (2.02) | (2.88) | | (2.88) | | (2.02) | (2.88) |
Diluted EPS (Continuing Ops) | (1.98) | (2.85) | (3.21) | (2.02) | (2.88) | | (2.88) | | (2.02) | (2.88) |
| | | | | | | | | | |
WA Basic Shares Out. | 58.61 | 67.62 | 68.66 | 75.97 | 82.34 | | 82.34 | | 75.97 | 82.34 |
WA Diluted Shares Out. | 58.61 | 67.62 | 68.66 | 75.97 | 82.34 | | 82.34 | | 75.97 | 82.34 |
| | | | | | | | | | |
EBITDA, EBIT Reconciliation | | | | | | | | | | |
EBT, Incl. Unusual Items | (116) | (193) | (220) | (153) | (237) | | (237) | | (153) | (237) |
Addback: Net Interest Expense | (3) | (1) | (6) | (18) | (14) | | (14) | | (18) | (14) |
Addback: Other Non Operating Expenses, Total | 0 | (0) | 0 | 0 | 0 | | 0 | | 0 | 0 |
Addback: Depreciation & Amortization | 4 | 5 | 6 | 6 | 6 | | 6 | | 6 | 6 |
Addback: Restructuring Charges | 0 | 0 | 0 | 0 | 12 | | 12 | | 0 | 12 |
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. | (16) | 0 | 0 | 2 | 0 | | 0 | | 2 | 0 |
Addback: Gain (Loss) On Sale Of Assets | 0 | 0 | 0 | 0 | 0 | | 0 | | 0 | 0 |
Addback: Asset Writedown | 0 | 0 | 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 | 0 | 0 | 0 | 0 | | 0 | | 0 | 0 |
Adjusted EBITDA | (131) | (188) | (220) | (163) | (233) | | (233) | | (163) | (233) |
% Margin | -144.3% | -736.3% | -1114.1% | -208.8% | -721.4% | | -721.4% | | -208.8% | -721.4% |
| | | | | | | | | | |
Adjusted EBIT | (135) | (193) | (226) | (169) | (239) | | (239) | | (169) | (239) |
% Margin | -148.6% | -756.1% | -1146.3% | -216.6% | -739.4% | | -739.4% | | -216.6% | -739.4% |
| | | | | | | | | | |
Adjusted Net Income Reconciliation | | | | | | | | | | |
Net Income to Company | (116) | (193) | (220) | (153) | (237) | | (237) | | (153) | (237) |
Addback: Unusual Items | (16) | 0 | 0 | 2 | 12 | | 12 | | 2 | 12 |
Less: Tax Benefit of Unusual Items (26%) | 4 | 0 | 0 | (0) | (3) | | (3) | | (0) | (3) |
Adjusted Net Income | (128) | (193) | (220) | (152) | (228) | | (228) | | (152) | (228) |
% Margin | -141.2% | -753.6% | -1118.3% | -194.6% | -705.7% | | -705.7% | | -194.6% | -705.7% |