| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $864.0K | $889.0K | $35M | -2.8% | -97.5% |
| Op. Income | -$155M | -$132M | -$65M | -17.2% | -139.6% |
| Gross Margin | -6770.8% | -7177.1% | 100.0% | 406.2pp | -6870.8pp |
| Net Margin | -15117.2% | -11973.1% | -106.6% | -3144.1pp | -15010.6pp |
| EPS (Diluted) | $-1.37 | $-1.17 | $-0.44 | -17.1% | -211.4% |
| Free Cash Flow | -$93M | -$85M | -$50M | -9.9% | -85.1% |
| Item | Amount |
|---|---|
| REVENUE | $864.0K |
| Cost of Revenue | $59M |
| GROSS PROFIT | -$59M |
| R&D Expenses | $78M |
| Selling & Marketing | $0 |
| General & Administrative | $18M |
| SG&A Expenses | $18M |
| Other Expenses | $0 |
| Operating Expenses | $96M |
| Cost & Expenses | $156M |
| OPERATING INCOME | -$155M |
| Interest Income | $0 |
| Interest Expense | $0 |
| Other Income/Expenses | $25M |
| INCOME BEFORE TAX | -$130M |
| Income Tax Expense | $614.0K |
| Net Income from Continuing Ops | -$131M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$131M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$131M |
| D&A | $6M |
| EBIT | -$155M |
| EBITDA | -$149M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$131M |
| Depreciation & Amortization | $6M |
| Stock-Based Compensation | $18M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$8M |
| Change in Working Capital | $23M |
| OPERATING CASH FLOW | -$93M |
| Capital Expenditure | -$517.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$263M |
| Sales/Maturities of Investments | $301M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $37M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $116M |
| FREE CASH FLOW | -$93M |
| Net Change in Cash | $61M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $355M |
| Short-Term Investments | $1.6B |
| Net Receivables | $0 |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $2.0B |
| PP&E (Net) | $0 |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $280M |
| TOTAL NON-CURRENT ASSETS | $280M |
| TOTAL ASSETS | $2.3B |
| Account Payables | $11M |
| Short-Term Debt | $19M |
| Deferred Revenue | $16M |
| Other Current Liabilities | $90M |
| TOTAL CURRENT LIABILITIES | $149M |
| Long-Term Debt | $188M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | -$182M |
| TOTAL NON-CURRENT LIABILITIES | $194M |
| TOTAL LIABILITIES | $343M |
| Common Stock | $3M |
| Additional Paid-In Capital | $3.9B |
| Retained Earnings | -$1.9B |
| Treasury Stock | -$60.0K |
| Accum. Other Comp. Income | $5M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $1.9B |
| Minority Interest | $0 |
| TOTAL EQUITY | $1.9B |
| TOTAL LIABILITIES & EQUITY | $2.3B |
| Total Debt | $395M |
| Net Debt | $40M |
