| Metric | Q1 2025 | Q4 2024 | Q1 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $10M | $9M | $0 | 5.4% | — |
| Op. Income | -$37M | -$36M | -$42M | -1.9% | 12.3% |
| Gross Margin | 100.0% | 100.0% | — | 0.0pp | — |
| Net Margin | -370.5% | -352.2% | — | -18.3pp | — |
| EPS (Diluted) | $-0.16 | $-0.15 | $-0.19 | -6.7% | 15.8% |
| Free Cash Flow | -$40M | -$35M | -$52M | -12.0% | 24.0% |
| Item | Amount |
|---|---|
| REVENUE | $10M |
| Cost of Revenue | $0 |
| GROSS PROFIT | $10M |
| R&D Expenses | $38M |
| Selling & Marketing | $0 |
| General & Administrative | $9M |
| SG&A Expenses | $9M |
| Other Expenses | $0 |
| Operating Expenses | $47M |
| Cost & Expenses | $47M |
| OPERATING INCOME | -$37M |
| Interest Income | $294.0K |
| Interest Expense | $3M |
| Other Income/Expenses | $172.0K |
| INCOME BEFORE TAX | -$37M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | -$37M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$37M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$37M |
| D&A | $342.0K |
| EBIT | -$34M |
| EBITDA | -$34M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$37M |
| Depreciation & Amortization | $342.0K |
| Stock-Based Compensation | $2M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$2M |
| Change in Working Capital | -$3M |
| OPERATING CASH FLOW | -$40M |
| Capital Expenditure | -$26.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$101M |
| Sales/Maturities of Investments | $123M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $22M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $504.0K |
| FREE CASH FLOW | -$40M |
| Net Change in Cash | -$17M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $29M |
| Short-Term Investments | $229M |
| Net Receivables | $7M |
| Inventory | $0 |
| Other Current Assets | $11M |
| TOTAL CURRENT ASSETS | $275M |
| PP&E (Net) | $5M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $310.0K |
| TOTAL NON-CURRENT ASSETS | $5M |
| TOTAL ASSETS | $281M |
| Account Payables | $3M |
| Short-Term Debt | $0 |
| Deferred Revenue | $18M |
| Other Current Liabilities | $6M |
| TOTAL CURRENT LIABILITIES | $48M |
| Long-Term Debt | $198M |
| Deferred Revenue NC | $37M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $0 |
| TOTAL NON-CURRENT LIABILITIES | $239M |
| TOTAL LIABILITIES | $287M |
| Common Stock | $23.0K |
| Additional Paid-In Capital | $1.3B |
| Retained Earnings | -$1.3B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$824.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | -$6M |
| Minority Interest | $0 |
| TOTAL EQUITY | -$6M |
| TOTAL LIABILITIES & EQUITY | $281M |
| Total Debt | $203M |
| Net Debt | $174M |
