HTC has lost a lot of high-level executives this year, including former chief product officer Kouji Kodera, former vice president of global communications Jason Gordon, former global retail marketing manager Rebecca Rowland and former director of digital marketing John Starkweather. And now Bloomberg Businessweek reports that the company has just seen its highest level resignation yet as chief operating officer Matthew Costello has stepped down from his post, although the company says he will “stay on as an executive adviser after moving to Europe.”

Costello’s resignation comes at a time when HTC’s revenues are finally starting to recover after several quarters of dreadful results. In May, the company posted revenue of NT$29 billion, which only represented a 3.35% year-over-year decline from the NT$30 billion in revenues it posted in May 2012. On the brighter side, it marks a 48% sequential increase from April 2013.

To put this in perspective, consider that HTC’s year-over-year revenue declined by 44% in February, by 48.6% in March and by 36.9% in April.

So while HTC would surely prefer to see its revenue grow year-over-year, the company will for now happily take a mere single-digit decline over the massive revenue losses it posted in the three months prior.