| Metric | Q1 2026 | Q4 2025 | Q1 2025 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $187M | $188M | $172M | -0.6% | 8.6% |
| Op. Income | -$44M | -$64M | -$66M | 31.0% | 33.6% |
| Gross Margin | 89.7% | 89.6% | 89.7% | 0.1pp | 0.1pp |
| Net Margin | -21.4% | -33.1% | -37.0% | 11.7pp | 15.6pp |
| EPS (Diluted) | $-0.17 | $-0.27 | $-0.28 | 37.0% | 39.3% |
| Free Cash Flow | $4M | $14M | -$4M | -72.2% | 193.5% |
| Item | Amount |
|---|---|
| REVENUE | $187M |
| Cost of Revenue | $19M |
| GROSS PROFIT | $168M |
| R&D Expenses | $75M |
| Selling & Marketing | $100M |
| General & Administrative | $37M |
| SG&A Expenses | $137M |
| Other Expenses | $0 |
| Operating Expenses | $212M |
| Cost & Expenses | $231M |
| OPERATING INCOME | -$44M |
| Interest Income | $4M |
| Interest Expense | $791.0K |
| Other Income/Expenses | $5M |
| INCOME BEFORE TAX | -$39M |
| Income Tax Expense | $1M |
| NET INCOME | -$40M |
| D&A | $5M |
| EBIT | -$38M |
| EBITDA | -$33M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$40M |
| Depreciation & Amortization | $5M |
| Stock-Based Compensation | $48M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $12M |
| Change in Working Capital | -$18M |
| OPERATING CASH FLOW | $7M |
| Capital Expenditure | -$3M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$34M |
| Sales/Maturities of Investments | $41M |
| Other Investing Activities | -$2M |
| NET CASH FROM INVESTING | $4M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | -$15M |
| Common Dividends Paid | $0 |
| Other Financing Activities | $9M |
| NET CASH FROM FINANCING | -$6M |
| FREE CASH FLOW | $4M |
| Net Change in Cash | $9M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $194M |
| Short-Term Investments | $277M |
| Net Receivables | $68M |
| Inventory | $0 |
| Other Current Assets | $30M |
| TOTAL CURRENT ASSETS | $588M |
| PP&E (Net) | $260M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $29M |
| TOTAL NON-CURRENT ASSETS | $289M |
| TOTAL ASSETS | $877M |
| Account Payables | $8M |
| Short-Term Debt | $0 |
| Deferred Revenue | $289M |
| Other Current Liabilities | $24M |
| TOTAL CURRENT LIABILITIES | $399M |
| Long-Term Debt | $38M |
| Deferred Revenue NC | $1M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $5M |
| TOTAL NON-CURRENT LIABILITIES | $241M |
| TOTAL LIABILITIES | $641M |
| Common Stock | $2.0K |
| Additional Paid-In Capital | $2.1B |
| Retained Earnings | -$1.9B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $2M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $236M |
| Minority Interest | $0 |
| TOTAL EQUITY | $236M |
| TOTAL LIABILITIES & EQUITY | $877M |
| Total Debt | $259M |
| Net Debt | $65M |
