| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $300.0K | $0 | $0 | — | — |
| Op. Income | -$234M | -$175M | -$124M | -34.1% | -88.7% |
| Gross Margin | 3300.0% | — | — | — | — |
| Net Margin | -62966.7% | — | — | — | — |
| EPS (Diluted) | $-0.26 | $-0.20 | $-0.46 | -30.0% | 43.5% |
| Free Cash Flow | -$159M | -$126M | -$129M | -26.0% | -23.5% |
| Item | Amount |
|---|---|
| REVENUE | $300.0K |
| Cost of Revenue | -$10M |
| GROSS PROFIT | $10M |
| R&D Expenses | $156M |
| Selling & Marketing | $0 |
| General & Administrative | $88M |
| SG&A Expenses | $88M |
| Other Expenses | $700.0K |
| Operating Expenses | $244M |
| Cost & Expenses | $235M |
| OPERATING INCOME | -$234M |
| Interest Income | -$35M |
| Interest Expense | $0 |
| Other Income/Expenses | $46M |
| INCOME BEFORE TAX | -$189M |
| Income Tax Expense | $0 |
| NET INCOME | -$189M |
| D&A | $7M |
| EBIT | -$138M |
| EBITDA | -$132M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$189M |
| Depreciation & Amortization | $6M |
| Stock-Based Compensation | $89M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$26M |
| Change in Working Capital | -$10M |
| OPERATING CASH FLOW | -$129M |
| Capital Expenditure | -$30M |
| Acquisitions (Net) | -$126M |
| Purchases of Investments | -$1.0B |
| Sales/Maturities of Investments | $103M |
| Other Investing Activities | $1.0B |
| NET CASH FROM INVESTING | -$73M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$69M |
| NET CASH FROM FINANCING | $629M |
| FREE CASH FLOW | -$159M |
| Net Change in Cash | $426M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $1.0B |
| Short-Term Investments | $943M |
| Net Receivables | $0 |
| Inventory | $0 |
| Other Current Assets | $111M |
| TOTAL CURRENT ASSETS | $2.1B |
| PP&E (Net) | $294M |
| Goodwill | $100.0K |
| Intangible Assets | $80M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $15M |
| TOTAL NON-CURRENT ASSETS | $390M |
| TOTAL ASSETS | $2.5B |
| Account Payables | $30M |
| Short-Term Debt | $6M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $68M |
| TOTAL CURRENT LIABILITIES | $104M |
| Long-Term Debt | $36M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $122M |
| TOTAL NON-CURRENT LIABILITIES | $159M |
| TOTAL LIABILITIES | $263M |
| Common Stock | $100.0K |
| Additional Paid-In Capital | $0 |
| Retained Earnings | -$2.3B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$1M |
| Other Equity | $4.5B |
| TOTAL STOCKHOLDERS' EQUITY | $2.2B |
| Minority Interest | $0 |
| TOTAL EQUITY | $2.2B |
| TOTAL LIABILITIES & EQUITY | $2.5B |
| Total Debt | $42M |
| Net Debt | -$979M |
