| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $26.0K | $5.0K | $5.0K | 420.0% | 420.0% |
| Op. Income | -$29M | -$21M | -$25M | -38.5% | -16.2% |
| Gross Margin | 100.0% | -299100.0% | 100.0% | 299200.0pp | 0.0pp |
| Net Margin | -105223.1% | -380280.0% | -463600.0% | 275056.9pp | 358376.9pp |
| EPS (Diluted) | $-0.27 | $-0.21 | $-0.33 | -28.6% | 18.2% |
| Free Cash Flow | -$19M | -$12M | -$18M | -63.5% | -6.5% |
| Item | Amount |
|---|---|
| REVENUE | $26.0K |
| Cost of Revenue | $26.0K |
| GROSS PROFIT | $26.0K |
| R&D Expenses | $18M |
| Selling & Marketing | $0 |
| General & Administrative | $11M |
| SG&A Expenses | $11M |
| Other Expenses | $0 |
| Operating Expenses | $29M |
| Cost & Expenses | $29M |
| OPERATING INCOME | -$29M |
| Interest Income | $2M |
| Interest Expense | $876.0K |
| Other Income/Expenses | $2M |
| INCOME BEFORE TAX | -$27M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | -$27M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$27M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$27M |
| D&A | $26.0K |
| EBIT | -$29M |
| EBITDA | -$29M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$27M |
| Depreciation & Amortization | $26.0K |
| Stock-Based Compensation | $5M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$675.0K |
| Change in Working Capital | $4M |
| OPERATING CASH FLOW | -$19M |
| Capital Expenditure | -$1.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$89M |
| Sales/Maturities of Investments | $9M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$79M |
| Net Debt Issuance | $20M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $273.0K |
| NET CASH FROM FINANCING | $81M |
| FREE CASH FLOW | -$19M |
| Net Change in Cash | -$17M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $44M |
| Short-Term Investments | $230M |
| Net Receivables | $1M |
| Inventory | $0 |
| Other Current Assets | $4M |
| TOTAL CURRENT ASSETS | $278M |
| PP&E (Net) | $312.0K |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $1M |
| TOTAL NON-CURRENT ASSETS | $2M |
| TOTAL ASSETS | $280M |
| Account Payables | $3M |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $15M |
| Long-Term Debt | $34M |
| Deferred Revenue NC | $160.0K |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $4M |
| TOTAL NON-CURRENT LIABILITIES | $40M |
| TOTAL LIABILITIES | $55M |
| Common Stock | $11.0K |
| Additional Paid-In Capital | $879M |
| Retained Earnings | -$649M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$5M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $225M |
| Minority Interest | $0 |
| TOTAL EQUITY | $225M |
| TOTAL LIABILITIES & EQUITY | $280M |
| Total Debt | $36M |
| Net Debt | -$8M |
