| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $20M | $13M | — | 55.0% | — |
| Op. Income | -$122M | -$117M | — | -4.0% | — |
| Gross Margin | 96.9% | 87.0% | — | 9.9pp | — |
| Net Margin | -541.1% | -803.1% | — | 262.0pp | — |
| EPS (Diluted) | $-1.85 | $-1.78 | — | -3.9% | — |
| Free Cash Flow | -$97M | -$90M | -$134M | -8.5% | 27.4% |
| Item | Amount |
|---|---|
| REVENUE | $20M |
| Cost of Revenue | $620.0K |
| GROSS PROFIT | $19M |
| R&D Expenses | $88M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $52M |
| Other Expenses | $1M |
| Operating Expenses | $141M |
| Cost & Expenses | $142M |
| OPERATING INCOME | -$122M |
| Interest Income | $12M |
| Interest Expense | $0 |
| Other Income/Expenses | $13M |
| INCOME BEFORE TAX | -$109M |
| Income Tax Expense | -$1M |
| Net Income from Continuing Ops | -$108M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$108M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$108M |
| D&A | $1M |
| EBIT | -$122M |
| EBITDA | -$120M |
| EPS | -$2 |
| EPS Diluted | -$2 |
| Item | Amount |
|---|---|
| Net Income | -$108M |
| Depreciation & Amortization | $1M |
| Stock-Based Compensation | $14M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $1M |
| Change in Working Capital | -$5M |
| OPERATING CASH FLOW | -$96M |
| Capital Expenditure | -$1M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$161M |
| Sales/Maturities of Investments | $252M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $90M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $3M |
| FREE CASH FLOW | -$97M |
| Net Change in Cash | -$4M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $89M |
| Short-Term Investments | $765M |
| Net Receivables | $11M |
| Inventory | $33M |
| Other Current Assets | $44M |
| TOTAL CURRENT ASSETS | $942M |
| PP&E (Net) | $41M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $310M |
| Tax Assets | $0 |
| Other Non-Current Assets | $4M |
| TOTAL NON-CURRENT ASSETS | $355M |
| TOTAL ASSETS | $1.3B |
| Account Payables | $18M |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $27M |
| TOTAL CURRENT LIABILITIES | $82M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $90.0K |
| TOTAL NON-CURRENT LIABILITIES | $22M |
| TOTAL LIABILITIES | $104M |
| Common Stock | $75.0K |
| Additional Paid-In Capital | $2.6B |
| Retained Earnings | -$562M |
| Treasury Stock | -$802M |
| Accum. Other Comp. Income | $2M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $1.2B |
| Minority Interest | $0 |
| TOTAL EQUITY | $1.2B |
| TOTAL LIABILITIES & EQUITY | $1.3B |
| Total Debt | $40M |
| Net Debt | -$49M |
