| Metric | Q1 2026 | Q4 2025 | Q1 2025 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $367M | $346M | $281M | 5.9% | 30.7% |
| Op. Income | -$33M | -$17M | -$66M | -94.0% | 49.6% |
| Gross Margin | 77.3% | 76.8% | 75.6% | 0.5pp | 1.8pp |
| Net Margin | -6.0% | -3.2% | -20.1% | -2.8pp | 14.0pp |
| EPS (Diluted) | $-0.04 | $-0.02 | $-0.10 | -96.0% | 61.0% |
| Free Cash Flow | $46M | $49M | $19M | -5.8% | 145.6% |
| Item | Amount |
|---|---|
| REVENUE | $367M |
| Cost of Revenue | $83M |
| GROSS PROFIT | $284M |
| R&D Expenses | $83M |
| Selling & Marketing | $165M |
| General & Administrative | $68M |
| SG&A Expenses | $234M |
| Other Expenses | $0 |
| Operating Expenses | $317M |
| Cost & Expenses | $400M |
| OPERATING INCOME | -$33M |
| Interest Income | $13M |
| Interest Expense | $0 |
| Other Income/Expenses | $13M |
| INCOME BEFORE TAX | -$21M |
| Income Tax Expense | $2M |
| Net Income from Continuing Ops | -$22M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$22M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$22M |
| D&A | $38M |
| EBIT | -$21M |
| EBITDA | $17M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$22M |
| Depreciation & Amortization | $5M |
| Stock-Based Compensation | $77M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$3M |
| Change in Working Capital | -$5M |
| OPERATING CASH FLOW | $53M |
| Capital Expenditure | -$7M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$173M |
| Sales/Maturities of Investments | $162M |
| Other Investing Activities | -$200.0K |
| NET CASH FROM INVESTING | -$18M |
| Net Debt Issuance | -$378.0K |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | -$356.0K |
| FREE CASH FLOW | $46M |
| Net Change in Cash | $35M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $259M |
| Short-Term Investments | $439M |
| Net Receivables | $216M |
| Inventory | $38M |
| Other Current Assets | $180M |
| TOTAL CURRENT ASSETS | $1.1B |
| PP&E (Net) | $103M |
| Goodwill | $0 |
| Intangible Assets | $27M |
| Long-Term Investments | $325M |
| Tax Assets | $0 |
| Other Non-Current Assets | $486M |
| TOTAL NON-CURRENT ASSETS | $941M |
| TOTAL ASSETS | $2.1B |
| Account Payables | $22M |
| Short-Term Debt | $14M |
| Deferred Revenue | $577M |
| Other Current Liabilities | $84M |
| TOTAL CURRENT LIABILITIES | $741M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $130M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $7M |
| TOTAL NON-CURRENT LIABILITIES | $205M |
| TOTAL LIABILITIES | $946M |
| Common Stock | $35.0K |
| Additional Paid-In Capital | $2.8B |
| Retained Earnings | -$1.6B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $673.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $1.1B |
| Minority Interest | $0 |
| TOTAL EQUITY | $1.1B |
| TOTAL LIABILITIES & EQUITY | $2.1B |
| Total Debt | $82M |
| Net Debt | -$177M |
