| Metric | Q1 2025 | Q4 2024 | Q1 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $132M | $227M | $119M | -41.9% | 10.1% |
| Op. Income | -$147M | -$111M | -$150M | -32.5% | 1.8% |
| Gross Margin | 98.9% | 98.3% | 98.2% | 0.6pp | 0.7pp |
| Net Margin | -111.6% | -46.1% | -119.5% | -65.6pp | 7.9pp |
| EPS (Diluted) | $-0.93 | $-0.66 | $-0.98 | -40.9% | 5.1% |
| Free Cash Flow | -$163M | -$142M | -$156M | -15.3% | -4.9% |
| Item | Amount |
|---|---|
| REVENUE | $132M |
| Cost of Revenue | $2M |
| GROSS PROFIT | $130M |
| R&D Expenses | $201M |
| Selling & Marketing | $0 |
| General & Administrative | $76M |
| SG&A Expenses | $76M |
| Other Expenses | -$87.0K |
| Operating Expenses | $277M |
| Cost & Expenses | $278M |
| OPERATING INCOME | -$147M |
| Interest Income | $25M |
| Interest Expense | $23M |
| Other Income/Expenses | $38.0K |
| INCOME BEFORE TAX | -$147M |
| Income Tax Expense | $116.0K |
| Net Income from Continuing Ops | -$147M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$147M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$147M |
| D&A | $5M |
| EBIT | -$125M |
| EBITDA | -$120M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$147M |
| Depreciation & Amortization | $4.8B |
| Stock-Based Compensation | $30M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$4.8B |
| Change in Working Capital | -$41M |
| OPERATING CASH FLOW | -$151M |
| Capital Expenditure | -$13M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$311M |
| Sales/Maturities of Investments | $495M |
| Other Investing Activities | -$651.0K |
| NET CASH FROM INVESTING | $170M |
| Net Debt Issuance | -$42.0K |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $2M |
| FREE CASH FLOW | -$163M |
| Net Change in Cash | $22M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $264M |
| Short-Term Investments | $1.9B |
| Net Receivables | $40M |
| Inventory | $12M |
| Other Current Assets | $223M |
| TOTAL CURRENT ASSETS | $2.4B |
| PP&E (Net) | $262M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $41M |
| Tax Assets | $0 |
| Other Non-Current Assets | $91M |
| TOTAL NON-CURRENT ASSETS | $394M |
| TOTAL ASSETS | $2.8B |
| Account Payables | $17M |
| Short-Term Debt | $12M |
| Deferred Revenue | $81M |
| Other Current Liabilities | $37M |
| TOTAL CURRENT LIABILITIES | $250M |
| Long-Term Debt | $1.8B |
| Deferred Revenue NC | $141M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $0 |
| TOTAL NON-CURRENT LIABILITIES | $2.1B |
| TOTAL LIABILITIES | $2.3B |
| Common Stock | $159.0K |
| Additional Paid-In Capital | $2.9B |
| Retained Earnings | -$2.4B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$29M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $476M |
| Minority Interest | $0 |
| TOTAL EQUITY | $476M |
| TOTAL LIABILITIES & EQUITY | $2.8B |
| Total Debt | $2.0B |
| Net Debt | $1.7B |
