| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $49M | — | $23M | — | 113.0% |
| Op. Income | -$94M | — | -$83M | — | -13.1% |
| Gross Margin | 79.4% | — | 91.1% | — | -11.6pp |
| Net Margin | -191.5% | — | -362.3% | — | 170.8pp |
| EPS (Diluted) | $-1.01 | — | $-1.06 | — | 4.9% |
| Item | Amount |
|---|---|
| REVENUE | $49M |
| Cost of Revenue | $10M |
| GROSS PROFIT | $39M |
| R&D Expenses | $86M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $47M |
| Other Expenses | $0 |
| Operating Expenses | $132M |
| Cost & Expenses | $142M |
| OPERATING INCOME | -$94M |
| Interest Income | $7M |
| Interest Expense | $4M |
| Other Income/Expenses | $312.6K |
| INCOME BEFORE TAX | -$93M |
| Income Tax Expense | $204.8K |
| Net Income from Continuing Ops | -$94M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$94M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$94M |
| D&A | $6M |
| EBIT | -$94M |
| EBITDA | -$88M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Cash & Equivalents | $361M |
| Short-Term Investments | $0 |
| Net Receivables | $37M |
| Inventory | $4M |
| Other Current Assets | $28M |
| TOTAL CURRENT ASSETS | $430M |
| PP&E (Net) | $121M |
| Goodwill | $4M |
| Intangible Assets | $10M |
| Long-Term Investments | $5M |
| Tax Assets | $5M |
| Other Non-Current Assets | $4M |
| TOTAL NON-CURRENT ASSETS | $149M |
| TOTAL ASSETS | $580M |
| Account Payables | $16M |
| Short-Term Debt | $179M |
| Deferred Revenue | $5M |
| Other Current Liabilities | $40M |
| TOTAL CURRENT LIABILITIES | $240M |
| Long-Term Debt | $109M |
| Deferred Revenue NC | $32M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $2M |
| TOTAL NON-CURRENT LIABILITIES | $144M |
| TOTAL LIABILITIES | $384M |
| Common Stock | $37.4K |
| Additional Paid-In Capital | $0 |
| Retained Earnings | $0 |
| Treasury Stock | -$432.9K |
| Accum. Other Comp. Income | $194M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $194M |
| Minority Interest | $1M |
| TOTAL EQUITY | $195M |
| TOTAL LIABILITIES & EQUITY | $580M |
| Total Debt | $289M |
| Net Debt | -$72M |
