| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $31M | $23M | $55.0K | 36.6% | 55965.5% |
| Op. Income | -$207M | -$182M | -$150M | -13.8% | -38.0% |
| Gross Margin | 1.7% | 55.4% | 60.0% | -53.8pp | -58.3pp |
| Net Margin | -394.1% | -1777.4% | -447776.4% | 1383.2pp | 447382.2pp |
| EPS (Diluted) | $-0.14 | $-0.48 | $-0.35 | 70.8% | 60.0% |
| Free Cash Flow | -$167M | -$153M | -$136M | -9.0% | -22.9% |
| Item | Amount |
|---|---|
| REVENUE | $31M |
| Cost of Revenue | $30M |
| GROSS PROFIT | $515.0K |
| R&D Expenses | $161M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $46M |
| Other Expenses | $0 |
| Operating Expenses | $207M |
| Cost & Expenses | $238M |
| OPERATING INCOME | -$207M |
| Interest Income | $0 |
| Interest Expense | $0 |
| Other Income/Expenses | $86M |
| INCOME BEFORE TAX | -$120M |
| Income Tax Expense | $1M |
| Net Income from Continuing Ops | -$122M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$122M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$122M |
| D&A | $11M |
| EBIT | -$120M |
| EBITDA | -$109M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$122M |
| Depreciation & Amortization | $11M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$32M |
| Change in Working Capital | -$11M |
| OPERATING CASH FLOW | -$153M |
| Capital Expenditure | -$14M |
| Acquisitions (Net) | $2M |
| Purchases of Investments | -$576M |
| Sales/Maturities of Investments | $180M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$409M |
| Net Debt Issuance | -$433.0K |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $594M |
| FREE CASH FLOW | -$167M |
| Net Change in Cash | $32M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $241M |
| Short-Term Investments | $1.2B |
| Net Receivables | $7M |
| Inventory | $0 |
| Other Current Assets | $30M |
| TOTAL CURRENT ASSETS | $1.4B |
| PP&E (Net) | $178M |
| Goodwill | $89M |
| Intangible Assets | $19M |
| Long-Term Investments | $693.0K |
| Tax Assets | $0 |
| Other Non-Current Assets | $62M |
| TOTAL NON-CURRENT ASSETS | $349M |
| TOTAL ASSETS | $1.8B |
| Account Payables | $4M |
| Short-Term Debt | $8M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $48M |
| TOTAL CURRENT LIABILITIES | $60M |
| Long-Term Debt | $26M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $273M |
| TOTAL NON-CURRENT LIABILITIES | $325M |
| TOTAL LIABILITIES | $385M |
| Common Stock | $91.0K |
| Additional Paid-In Capital | $4.2B |
| Retained Earnings | -$2.8B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $2M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $1.4B |
| Minority Interest | $0 |
| TOTAL EQUITY | $1.4B |
| TOTAL LIABILITIES & EQUITY | $1.8B |
| Total Debt | $61M |
| Net Debt | -$180M |
