| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $2M | $5M | $15M | -66.6% | -89.2% |
| Op. Income | -$64M | -$62M | -$53M | -3.1% | -19.8% |
| Gross Margin | 0.8% | -609.0% | 100.0% | 609.8pp | -99.2pp |
| Net Margin | -3513.4% | -1127.1% | -308.4% | -2386.3pp | -3205.0pp |
| EPS (Diluted) | $-1.00 | $-0.99 | $-0.88 | -1.0% | -13.6% |
| Free Cash Flow | -$59M | -$50M | -$48M | -19.1% | -24.0% |
| Item | Amount |
|---|---|
| REVENUE | $2M |
| Cost of Revenue | $2M |
| GROSS PROFIT | $13.0K |
| R&D Expenses | $34M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $30M |
| Other Expenses | $0 |
| Operating Expenses | $64M |
| Cost & Expenses | $65M |
| OPERATING INCOME | -$64M |
| Interest Income | $13M |
| Interest Expense | $24M |
| Other Income/Expenses | $6M |
| INCOME BEFORE TAX | -$58M |
| Income Tax Expense | $40.0K |
| Net Income from Continuing Ops | -$58M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$58M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$58M |
| D&A | $2M |
| EBIT | -$34M |
| EBITDA | -$32M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$58M |
| Depreciation & Amortization | $4M |
| Stock-Based Compensation | $18M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$4M |
| Change in Working Capital | -$18M |
| OPERATING CASH FLOW | -$58M |
| Capital Expenditure | -$764.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$50M |
| Sales/Maturities of Investments | $108M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $58M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $2M |
| FREE CASH FLOW | -$59M |
| Net Change in Cash | $1M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $80M |
| Short-Term Investments | $370M |
| Net Receivables | $4M |
| Inventory | $0 |
| Other Current Assets | $8M |
| TOTAL CURRENT ASSETS | $462M |
| PP&E (Net) | $0 |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $72M |
| Tax Assets | $0 |
| Other Non-Current Assets | $69M |
| TOTAL NON-CURRENT ASSETS | $142M |
| TOTAL ASSETS | $604M |
| Account Payables | $6M |
| Short-Term Debt | $8M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $91M |
| TOTAL CURRENT LIABILITIES | $104M |
| Long-Term Debt | $44M |
| Deferred Revenue NC | $53M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | -$44M |
| TOTAL NON-CURRENT LIABILITIES | $97M |
| TOTAL LIABILITIES | $202M |
| Common Stock | $56.0K |
| Additional Paid-In Capital | $1.1B |
| Retained Earnings | -$726M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $843.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $402M |
| Minority Interest | $0 |
| TOTAL EQUITY | $402M |
| TOTAL LIABILITIES & EQUITY | $604M |
| Total Debt | $96M |
| Net Debt | $16M |
