More proving your point, but from the article:

> The phone’s initial price was $699, the same as an iPhone viewed as a competitor. At that price, the company sold as few as 20,000 units across its website and third-party distribution partners, one of the people said. Last October, Essential lowered the price by $200, which boosted sales. The company has sold at least 150,000 to date, according to the person familiar with the company.

So that's 20,000 * $699 + 150,000 * $499 ~ $89M