Income Statement | | | | | | | | | | | | |
| | | | | | | | | | | | Original |
USD | Fiscal Year Ending | | Latest |
(in millions) | Mar-15 | Mar-16 | Mar-17 | Mar-18 | Mar-19 | Mar-20 | Mar-21 | Mar-22 | Mar-23 | Mar-24 | | Dec-24 |
| FY - 9 | FY - 8 | FY - 7 | FY - 6 | FY - 5 | FY - 4 | FY - 3 | FY - 2 | FY - 1 | FY | | LTM |
| | | | | | | | | | | | |
Revenue | 71 | 96 | 75 | 48 | 56 | 64 | 87 | 108 | 106 | 146 | | 198 |
% Growth | NA | 36.1% | -21.7% | -35.6% | 16.1% | 13.6% | 36.5% | 24.5% | -2.3% | 37.4% | | |
| | | | | | | | | | | | |
Cost of Revenue | (67) | (74) | (64) | (40) | (42) | (54) | (69) | (94) | (97) | (110) | | (143) |
Gross Profit | 3 | 22 | 11 | 9 | 14 | 9 | 18 | 14 | 9 | 35 | | 55 |
% Revenue | 4.4% | 22.9% | 14.4% | 18.0% | 24.9% | 14.8% | 21.2% | 13.0% | 8.0% | 24.2% | | 27.9% |
| | | | | | | | | | | | |
Research and Development | (12) | (12) | (13) | (12) | (10) | (10) | (11) | (10) | (9) | (8) | | (10) |
Selling and Marketing | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | | 0 |
General and Admin | (31) | (29) | (26) | (23) | (22) | (23) | (25) | (27) | (29) | (32) | | (38) |
Other Inc / (Exp) | (7) | (1) | 2 | (8) | 50 | 5 | (6) | 3 | (6) | (8) | | (13) |
Total Operating Exp | (50) | (42) | (37) | (42) | 18 | (28) | (42) | (35) | (44) | (47) | | (61) |
| | | | | | | | | | | | |
Operating Income | (47) | (20) | (26) | (33) | 32 | (18) | (24) | (21) | (35) | (12) | | (5) |
% Revenue | -66.6% | -20.5% | -34.4% | -68.4% | 57.0% | -28.6% | -27.5% | -19.5% | -33.1% | -8.3% | | -2.7% |
| | | | | | | | | | | | |
Interest Expense | (2) | (1) | (0) | 0 | 1 | 1 | 0 | 0 | 0 | 1 | | 4 |
Pre-tax Income | (49) | (21) | (26) | (33) | 33 | (17) | (24) | (21) | (35) | (11) | | (2) |
Earnings of Discontinued Ops. | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | | 0 |
Provision for Taxes | 0 | (2) | (1) | 0 | (6) | (0) | 1 | 2 | (0) | (0) | | 5 |
Net Income to Company | (49) | (23) | (27) | (33) | 27 | (17) | (23) | (19) | (35) | (11) | | 3 |
% Margin | -69.0% | -24.1% | -36.4% | -67.7% | 47.6% | -26.8% | -26.0% | -17.7% | -33.1% | -7.6% | | 1.6% |
| | | | | | | | | | | | |
Minority Interest in Earnings | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | | 0 |
Net Income to Stockholders | (49) | (23) | (27) | (33) | 27 | (17) | (23) | (19) | (35) | (11) | | 3 |
| | | | | | | | | | | | |
Preferred Dividends | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | | 0 |
Other Adj. | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | | 0 |
| | | | | | | | | | | | |
Net Income to Common | (49) | (23) | (27) | (33) | 27 | (17) | (23) | (19) | (35) | (11) | | 3 |
% Margin | -69.0% | -24.1% | -36.4% | -67.7% | 47.6% | -26.8% | -26.0% | -17.7% | -33.1% | -7.6% | | 1.6% |
| | | | | | | | | | | | |
As Reported | | | | | | | | | | | | |
Basic EPS (Continuing Ops) | (5.74) | (1.76) | (1.98) | (1.73) | 1.32 | (0.81) | (0.95) | (0.71) | (1.26) | (0.37) | | 0.09 |
Diluted EPS (Continuing Ops) | (5.74) | (1.76) | (1.98) | (1.73) | 1.29 | (1.03) | (0.95) | (0.71) | (1.26) | (0.37) | | 0.09 |
| | | | | | | | | | | | |
WA Basic Shares Out. | 8.48 | 13.18 | 13.80 | 18.97 | 20.34 | 20.99 | 23.88 | 27.20 | 27.85 | 29.83 | | 37.86 |
WA Diluted Shares Out. | 8.48 | 13.18 | 13.80 | 18.97 | 20.73 | 21.07 | 23.88 | 27.20 | 27.85 | 29.83 | | 38.55 |
| | | | | | | | | | | | |
EBITDA, EBIT Reconciliation | | | | | | | | | | | | |
EBT, Incl. Unusual Items | (49) | (21) | (26) | (33) | 33 | (17) | (24) | (21) | (35) | (11) | | (2) |
Addback: Net Interest Expense | 2 | 1 | 0 | (0) | (1) | (1) | (0) | (0) | (0) | (1) | | (4) |
Addback: Other Non Operating Expenses, Total | (6) | 3 | (1) | 2 | 2 | (5) | 1 | 0 | 0 | 1 | | 0 |
Addback: Depreciation & Amortization | 10 | 8 | 8 | 7 | 5 | 4 | 5 | 5 | 5 | 4 | | 5 |
Addback: Restructuring Charges | 2 | 1 | 0 | 2 | 0 | 0 | 0 | 0 | 1 | (0) | | 0 |
Addback: Merger / Acquisition Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 0 | 0 | | 2 |
Addback: Goodwill Impairment | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | | 0 |
Addback: Gain (Loss) On Sale Of Invest. | 3 | (3) | (0) | (1) | (0) | (0) | 0 | 0 | 0 | 0 | | 0 |
Addback: Gain (Loss) On Sale Of Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2 | 0 | | 0 |
Addback: Asset Writedown | 0 | 0 | 0 | 5 | 0 | 0 | 0 | 0 | 0 | 0 | | 0 |
Addback: In Process R&D Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | | 0 |
Addback: Insurance Settlements | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | | 0 |
Addback: Legal Settlements | 7 | 0 | 0 | 0 | (53) | 0 | 0 | 0 | 0 | 0 | | 0 |
Addback: Other Unusual Items | 0 | 0 | 0 | 0 | 0 | 0 | 3 | (6) | 0 | 5 | | 9 |
Adjusted EBITDA | (31) | (11) | (20) | (19) | (14) | (19) | (13) | (21) | (27) | (2) | | 11 |
% Margin | -43.7% | -11.8% | -26.6% | -39.5% | -24.2% | -29.5% | -15.4% | -19.4% | -25.0% | -1.3% | | 5.3% |
| | | | | | | | | | | | |
Adjusted EBIT | (40) | (19) | (28) | (26) | (18) | (23) | (19) | (26) | (32) | (6) | | 5 |
% Margin | -57.3% | -20.1% | -36.6% | -53.0% | -32.4% | -36.2% | -21.6% | -24.3% | -30.1% | -4.4% | | 2.7% |
| | | | | | | | | | | | |
Adjusted Net Income Reconciliation | | | | | | | | | | | | |
Net Income to Company | (49) | (23) | (27) | (33) | 27 | (17) | (23) | (19) | (35) | (11) | | 3 |
Addback: Unusual Items | 12 | (2) | (0) | 5 | (52) | (0) | 4 | (5) | 3 | 5 | | 10 |
Less: Tax Benefit of Unusual Items (26%) | (3) | 1 | 0 | (1) | 14 | 0 | (1) | 1 | (1) | (1) | | (3) |
Adjusted Net Income | (40) | (25) | (28) | (29) | (12) | (17) | (19) | (23) | (33) | (7) | | 11 |
% Margin | -56.3% | -25.9% | -36.7% | -59.6% | -21.3% | -26.9% | -22.3% | -21.3% | -30.9% | -5.1% | | 5.5% |