| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | -$2M | — | $9M | — | -127.3% |
| Op. Income | -$172M | — | -$155M | — | -10.6% |
| Gross Margin | 151.1% | — | 100.0% | — | 51.1pp |
| Net Margin | 11009.1% | — | -1278.6% | — | 12287.7pp |
| EPS (Diluted) | $-3.58 | — | $-1.75 | — | -104.0% |
| Free Cash Flow | -$27M | — | -$81M | — | 66.4% |
| Item | Amount |
|---|---|
| REVENUE | -$2M |
| Cost of Revenue | $1M |
| GROSS PROFIT | -$4M |
| R&D Expenses | $108M |
| Selling & Marketing | $24.6K |
| General & Administrative | $32M |
| SG&A Expenses | $32M |
| Other Expenses | $27M |
| Operating Expenses | $168M |
| Cost & Expenses | $170M |
| OPERATING INCOME | -$172M |
| Interest Income | $6M |
| Interest Expense | $24M |
| Other Income/Expenses | -$85M |
| INCOME BEFORE TAX | -$256M |
| Income Tax Expense | $3M |
| Net Income from Continuing Ops | -$260M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$260M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$260M |
| D&A | $1M |
| EBIT | -$172M |
| EBITDA | -$171M |
| EPS | -$4 |
| EPS Diluted | -$4 |
| Item | Amount |
|---|---|
| Net Income | -$260M |
| Depreciation & Amortization | $591.2K |
| Stock-Based Compensation | -$13M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $243M |
| Change in Working Capital | $1M |
| OPERATING CASH FLOW | -$27M |
| Capital Expenditure | -$101.7K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$16M |
| Sales/Maturities of Investments | $561.5K |
| Other Investing Activities | $519.8K |
| NET CASH FROM INVESTING | -$15M |
| Net Debt Issuance | -$51M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$684M |
| NET CASH FROM FINANCING | -$46M |
| FREE CASH FLOW | -$27M |
| Net Change in Cash | -$85M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $604M |
| Short-Term Investments | $16M |
| Net Receivables | $12M |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $644M |
| PP&E (Net) | $2M |
| Goodwill | $22M |
| Intangible Assets | $8M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $7M |
| TOTAL NON-CURRENT ASSETS | $39M |
| TOTAL ASSETS | $683M |
| Account Payables | $0 |
| Short-Term Debt | $2M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $67M |
| TOTAL CURRENT LIABILITIES | $74M |
| Long-Term Debt | $35M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $7M |
| Other Non-Current Liabilities | $34M |
| TOTAL NON-CURRENT LIABILITIES | $77M |
| TOTAL LIABILITIES | $151M |
| Common Stock | $917.4K |
| Additional Paid-In Capital | $1.4B |
| Retained Earnings | -$863M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $3M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $532M |
| Minority Interest | $0 |
| TOTAL EQUITY | $532M |
| TOTAL LIABILITIES & EQUITY | $683M |
| Total Debt | $38M |
| Net Debt | -$566M |
