Revenue Performance: Q1 2024 revenues were approximately $4.7 billion (up 18% QoQ and up 16% YoY). DRAM revenue accounted for 73% of total revenue, at $3.4 billion, up 24% sequentially. Gross Margin: Achieved a gross margin of near 1%, improved from near-breakeven in the previous quarter, primarily due to pricing improvements and a better mix of DRAM products. Operating Income: Recorded an operating loss of $955 million with an operating margin of -20%, indicating continued challenges in profitability. Net Income: The net loss for the quarter was $1.234 billion, with a diluted EPS of -$1.12. Management projects positive cash flows significantly later in FY24, highlighting CapEx restraints in response to pricing improvements. Liquidity and Debt: Cash and equivalents were approximately $9.8 billion, with total debt at $13.5 billion, affirming a stable financial position despite operational losses.