Income statement waterfall. Green diagonal stripes add to the running result, red diagonal stripes subtract from it, and a thin axis line marks the loss-zone boundary.

Revenue: $12M. Running result $12M. Revenue: $12M.
Cost of revenue: $0. Running result $12M.
Gross profit: $12M. Running result $12M.
Operating costs: −$12.53M. Running result −$524K.
Operating income: −$524K. Running result −$524K.
Other expense: −$57K. Running result −$581K.
Pre-tax loss: −$581K. Running result −$581K.
Income tax expense: −$23K. Running result −$604K.
Net loss: −$604K. Running result −$604K.

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Income statement waterfall. Revenue $12M. Net result −$604K. A thin axis line marks the loss-zone boundary.

Income statement waterfall. Green diagonal stripes add to the running result, red diagonal stripes subtract from it, and a thin axis line marks the loss-zone boundary.

Revenue: $12M. Running result $12M. Revenue: $12M.
Cost of revenue: $0. Running result $12M.
Gross profit: $12M. Running result $12M.
Operating costs: −$12.53M. Running result −$524K.
Operating income: −$524K. Running result −$524K.
Other expense: −$57K. Running result −$581K.
Pre-tax loss: −$581K. Running result −$581K.
Income tax expense: −$23K. Running result −$604K.
Net loss: −$604K. Running result −$604K.