| Metric | Q1 2025 | Q4 2024 | Q1 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $56M | — | $8M | — | 571.6% |
| Op. Income | -$59M | — | -$49M | — | -19.1% |
| Gross Margin | 4.0% | — | -23.1% | — | 27.1pp |
| Net Margin | -107.6% | — | -634.5% | — | 526.9pp |
| EPS (Diluted) | $-0.50 | — | $-0.40 | — | -24.6% |
| Free Cash Flow | -$59M | — | -$65M | — | 9.1% |
| Item | Amount |
|---|---|
| REVENUE | $56M |
| Cost of Revenue | $54M |
| GROSS PROFIT | $2M |
| R&D Expenses | $48M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $13M |
| Other Expenses | $0 |
| Operating Expenses | $61M |
| Cost & Expenses | $114M |
| OPERATING INCOME | -$59M |
| Interest Income | $0 |
| Interest Expense | $5M |
| Other Income/Expenses | -$2M |
| INCOME BEFORE TAX | -$60M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | -$60M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$60M |
| Net Income Deductions | $12M |
| BOTTOM LINE NET INCOME | -$72M |
| D&A | $4M |
| EBIT | -$55M |
| EBITDA | -$51M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$60M |
| Depreciation & Amortization | $4M |
| Stock-Based Compensation | $431.0K |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $2M |
| Change in Working Capital | -$2M |
| OPERATING CASH FLOW | -$57M |
| Capital Expenditure | -$3M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$3M |
| Net Debt Issuance | -$2M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $748.0K |
| NET CASH FROM FINANCING | $114M |
| FREE CASH FLOW | -$59M |
| Net Change in Cash | $55M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $177M |
| Short-Term Investments | $0 |
| Net Receivables | $15M |
| Inventory | $0 |
| Other Current Assets | $7M |
| TOTAL CURRENT ASSETS | $210M |
| PP&E (Net) | $156M |
| Goodwill | $17M |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $56M |
| TOTAL NON-CURRENT ASSETS | $230M |
| TOTAL ASSETS | $439M |
| Account Payables | $37M |
| Short-Term Debt | $7M |
| Deferred Revenue | $83M |
| Other Current Liabilities | $3M |
| TOTAL CURRENT LIABILITIES | $151M |
| Long-Term Debt | $141M |
| Deferred Revenue NC | $50M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $918M |
| TOTAL NON-CURRENT LIABILITIES | $1.1B |
| TOTAL LIABILITIES | $1.3B |
| Common Stock | $2.0K |
| Additional Paid-In Capital | $0 |
| Retained Earnings | -$839M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | -$839M |
| Minority Interest | $0 |
| TOTAL EQUITY | -$839M |
| TOTAL LIABILITIES & EQUITY | $439M |
| Total Debt | $167M |
| Net Debt | -$10M |
