| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $2M | $2M | $456.0K | 39.4% | 409.2% |
| Op. Income | -$49M | -$51M | -$38M | 4.8% | -28.0% |
| Gross Margin | -25.5% | 5.3% | 100.0% | -30.8pp | -125.5pp |
| Net Margin | -1779.0% | -2629.5% | -6973.2% | 850.5pp | 5194.2pp |
| EPS (Diluted) | $-0.52 | $-0.57 | $-0.49 | 8.8% | -6.1% |
| Free Cash Flow | -$36M | -$39M | -$21M | 7.1% | -73.6% |
| Item | Amount |
|---|---|
| REVENUE | $2M |
| Cost of Revenue | $3M |
| GROSS PROFIT | -$592.0K |
| R&D Expenses | $30M |
| Selling & Marketing | $0 |
| General & Administrative | $18M |
| SG&A Expenses | $18M |
| Other Expenses | $155.0K |
| Operating Expenses | $48M |
| Cost & Expenses | $51M |
| OPERATING INCOME | -$49M |
| Interest Income | $22M |
| Interest Expense | $0 |
| Other Income/Expenses | $7M |
| INCOME BEFORE TAX | -$41M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | -$41M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$41M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$41M |
| D&A | $849.0K |
| EBIT | -$41M |
| EBITDA | -$40M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$41M |
| Depreciation & Amortization | $849.0K |
| Stock-Based Compensation | $7M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $1M |
| Change in Working Capital | -$4M |
| OPERATING CASH FLOW | -$36M |
| Capital Expenditure | -$7.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$298M |
| Sales/Maturities of Investments | $222M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$76M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $99M |
| FREE CASH FLOW | -$36M |
| Net Change in Cash | -$13M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $32M |
| Short-Term Investments | $710M |
| Net Receivables | $688.0K |
| Inventory | $2M |
| Other Current Assets | $15M |
| TOTAL CURRENT ASSETS | $759M |
| PP&E (Net) | $20M |
| Goodwill | $10M |
| Intangible Assets | $575.0K |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $2M |
| TOTAL NON-CURRENT ASSETS | $32M |
| TOTAL ASSETS | $792M |
| Account Payables | $6M |
| Short-Term Debt | $915.0K |
| Deferred Revenue | $0 |
| Other Current Liabilities | $24M |
| TOTAL CURRENT LIABILITIES | $31M |
| Long-Term Debt | $6M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $307.0K |
| Other Non-Current Liabilities | $2M |
| TOTAL NON-CURRENT LIABILITIES | $8M |
| TOTAL LIABILITIES | $39M |
| Common Stock | $8.0K |
| Additional Paid-In Capital | $0 |
| Retained Earnings | -$379M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $1.1B |
| TOTAL STOCKHOLDERS' EQUITY | $753M |
| Minority Interest | $0 |
| TOTAL EQUITY | $753M |
| TOTAL LIABILITIES & EQUITY | $792M |
| Total Debt | $7M |
| Net Debt | -$25M |
