| Metric | FY 2025 | Prior Q | FY 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $944M | — | $705M | — | 33.9% |
| Op. Income | -$382M | — | -$475M | — | 19.6% |
| Gross Margin | 98.3% | — | 98.4% | — | -0.1pp |
| Net Margin | -40.4% | — | -64.4% | — | 24.0pp |
| EPS (Diluted) | $-2.38 | — | $-3.04 | — | 21.7% |
| Free Cash Flow | -$320M | — | -$546M | — | 41.4% |
| Item | Amount |
|---|---|
| REVENUE | $944M |
| Cost of Revenue | $16M |
| GROSS PROFIT | $928M |
| R&D Expenses | $916M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $394M |
| Other Expenses | $0 |
| Operating Expenses | $1.3B |
| Cost & Expenses | $1.3B |
| OPERATING INCOME | -$382M |
| Interest Income | $0 |
| Interest Expense | $73M |
| Other Income/Expenses | $2M |
| INCOME BEFORE TAX | -$380M |
| Income Tax Expense | $1M |
| Net Income from Continuing Ops | -$381M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$381M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$381M |
| D&A | $20M |
| EBIT | -$307M |
| EBITDA | -$287M |
| EPS | -$2 |
| EPS Diluted | -$2 |
| Item | Amount |
|---|---|
| Net Income | -$381M |
| Depreciation & Amortization | $23M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $141M |
| Change in Working Capital | -$51M |
| OPERATING CASH FLOW | -$269M |
| Capital Expenditure | -$51M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$1.9B |
| Sales/Maturities of Investments | $1.7B |
| Other Investing Activities | -$6M |
| NET CASH FROM INVESTING | -$278M |
| Net Debt Issuance | $483M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $676M |
| FREE CASH FLOW | -$320M |
| Net Change in Cash | $130M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $372M |
| Short-Term Investments | $2.3B |
| Net Receivables | $66M |
| Inventory | $10M |
| Other Current Assets | $247M |
| TOTAL CURRENT ASSETS | $3.0B |
| PP&E (Net) | $362M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $52M |
| Tax Assets | $0 |
| Other Non-Current Assets | $119M |
| TOTAL NON-CURRENT ASSETS | $533M |
| TOTAL ASSETS | $3.5B |
| Account Payables | $28M |
| Short-Term Debt | $453M |
| Deferred Revenue | $74M |
| Other Current Liabilities | $108M |
| TOTAL CURRENT LIABILITIES | $782M |
| Long-Term Debt | $1.9B |
| Deferred Revenue NC | $92M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $0 |
| TOTAL NON-CURRENT LIABILITIES | $2.3B |
| TOTAL LIABILITIES | $3.0B |
| Common Stock | $163.0K |
| Additional Paid-In Capital | $3.1B |
| Retained Earnings | -$2.6B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$25M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $489M |
| Minority Interest | $0 |
| TOTAL EQUITY | $489M |
| TOTAL LIABILITIES & EQUITY | $3.5B |
| Total Debt | $2.6B |
| Net Debt | $2.2B |
