| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $620.0K | $966.0K | $12M | -35.8% | -94.6% |
| Op. Income | -$70M | -$62M | -$45M | -13.4% | -55.5% |
| Gross Margin | 39.5% | 25.4% | 93.0% | 14.2pp | -53.4pp |
| Net Margin | -10904.7% | -6183.4% | -357.3% | -4721.2pp | -10547.4pp |
| EPS (Diluted) | $-0.81 | $-0.85 | $-0.64 | 4.7% | -26.6% |
| Free Cash Flow | -$66M | -$60M | -$36M | -9.8% | -82.2% |
| Item | Amount |
|---|---|
| REVENUE | $620.0K |
| Cost of Revenue | $375.0K |
| GROSS PROFIT | $245.0K |
| R&D Expenses | $59M |
| Selling & Marketing | -$6.0K |
| General & Administrative | $11M |
| SG&A Expenses | $11M |
| Other Expenses | $0 |
| Operating Expenses | $71M |
| Cost & Expenses | $71M |
| OPERATING INCOME | -$70M |
| Interest Income | $3M |
| Interest Expense | $0 |
| Other Income/Expenses | $3M |
| INCOME BEFORE TAX | -$67M |
| Income Tax Expense | -$186.0K |
| Net Income from Continuing Ops | -$67M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | -$372.0K |
| NET INCOME | -$68M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$68M |
| D&A | $0 |
| EBIT | -$70M |
| EBITDA | -$70M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$68M |
| Depreciation & Amortization | $698.0K |
| Stock-Based Compensation | $7M |
| Deferred Income Tax | $459.0K |
| Other Non-Cash Items | -$1M |
| Change in Working Capital | -$4M |
| OPERATING CASH FLOW | -$65M |
| Capital Expenditure | -$986.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$149M |
| Sales/Maturities of Investments | $79M |
| Other Investing Activities | -$4M |
| NET CASH FROM INVESTING | -$75M |
| Net Debt Issuance | -$27.0K |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $273.0K |
| NET CASH FROM FINANCING | $167M |
| FREE CASH FLOW | -$66M |
| Net Change in Cash | $27M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $102M |
| Short-Term Investments | $204M |
| Net Receivables | $651.0K |
| Inventory | $2M |
| Other Current Assets | $20M |
| TOTAL CURRENT ASSETS | $329M |
| PP&E (Net) | $20M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $15M |
| TOTAL NON-CURRENT ASSETS | $35M |
| TOTAL ASSETS | $364M |
| Account Payables | $35M |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $2M |
| TOTAL CURRENT LIABILITIES | $37M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $87.0K |
| TOTAL NON-CURRENT LIABILITIES | $21M |
| TOTAL LIABILITIES | $58M |
| Common Stock | $1.4B |
| Additional Paid-In Capital | $0 |
| Retained Earnings | -$1.1B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $961.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $306M |
| Minority Interest | $0 |
| TOTAL EQUITY | $306M |
| TOTAL LIABILITIES & EQUITY | $364M |
| Total Debt | $21M |
| Net Debt | -$81M |
