Revenue and profitability:
- Revenue: $1,000 (Q1 2024). Note: four-quarters data show only this single quarter with revenue in the dataset; other periods report no revenue data.
- Cost of revenue: $1,000; Gross profit: -$1,000; Gross margin: -100% (due to revenue being nil on a per-quarter basis).
- Operating expenses: $11,587,000 (General and Administrative: $11,587,000; Selling and Administrative combined: $11,587,000; Selling and Marketing: -$1,000 embedded in the SG&A total).
- EBITDA: -$11,587,000; Operating income: -$11,588,000; Net income: -$11,594,000; EPS: -$0.40.
- Net income per share and EBITDA are distorted by non-operational items embedded in the quarter and a lack of revenue.
Cash flow and liquidity:
- Net income: -$11.594 million; Depreciation and amortization: $1,000; Change in working capital: $4,448; Other non-cash items: $5,390; Net cash from operating activities: -$1.648 million.
- Investing activities: Capex of $0.632 million; Net cash used in investing: -$0.632 million.
- Financing activities: Net cash provided by financing of $2.853 million; Net change in cash: $0.573 million; Cash at end of period: $0.573 million.
- Free cash flow: -$2.280 million (defined as CFO -$1.648m minus capex $0.632m).
Balance sheet and leverage:
- Total assets: $8.513 million; Cash and cash equivalents: $1.146 million; Intangible assets: $5.611 million; Total current assets: $1.638 million.
- Total liabilities: $14.043 million (current liabilities: $2.016 million; non-current liabilities: $12.027 million).
- Shareholders’ equity: -$5.53 million; Notable negative equity driven by accumulated losses and asset/liability mix (intangible assets vs. liabilities).
- Short-term debt: $1.76 million; Net debt: $0.614 million (net debt calculation based on given cash and total debt).
- Liquidity ratios reflect a stressed position: current ratio 0.813; quick ratio 0.813; cash ratio 0.568.
Revenue trajectory and margin profile:
- With a one-quarter revenue of $1k and a dramatic operating expense base, gross margin is negative (-100%) and operating margin is deeply negative. The path to profitability will depend on a credible revenue ramp and sustained cost discipline as scale is pursued.