| Metric | Q2 2026 | Q1 2026 | Q2 2025 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $14M | $1M | $0 | 860.2% | — |
| Op. Income | -$46M | -$59M | -$46M | 22.0% | -0.5% |
| Gross Margin | 91.0% | 58.6% | — | 32.4pp | — |
| Net Margin | -361.4% | -4214.3% | — | 3852.9pp | — |
| EPS (Diluted) | $-0.92 | $-1.12 | $-0.91 | 17.9% | -1.1% |
| Free Cash Flow | -$33M | -$55M | -$40M | 40.3% | 17.7% |
| Item | Amount |
|---|---|
| REVENUE | $14M |
| Cost of Revenue | $1M |
| GROSS PROFIT | $12M |
| R&D Expenses | $12M |
| Selling & Marketing | $0 |
| General & Administrative | $47M |
| SG&A Expenses | $47M |
| Other Expenses | $0 |
| Operating Expenses | $59M |
| Cost & Expenses | $60M |
| OPERATING INCOME | -$46M |
| Interest Income | $2M |
| Interest Expense | $5M |
| Other Income/Expenses | -$1M |
| INCOME BEFORE TAX | -$47M |
| Income Tax Expense | $2M |
| Net Income from Continuing Ops | -$49M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$49M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$49M |
| D&A | $369.0K |
| EBIT | -$43M |
| EBITDA | -$42M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$49M |
| Depreciation & Amortization | $229.0K |
| Stock-Based Compensation | $6M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $29M |
| Change in Working Capital | -$19M |
| OPERATING CASH FLOW | -$33M |
| Capital Expenditure | -$24.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $9M |
| NET CASH FROM INVESTING | $9M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $152M |
| NET CASH FROM FINANCING | $152M |
| FREE CASH FLOW | -$33M |
| Net Change in Cash | $126M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $243M |
| Short-Term Investments | $66M |
| Net Receivables | $7M |
| Inventory | $458.0K |
| Other Current Assets | $8M |
| TOTAL CURRENT ASSETS | $325M |
| PP&E (Net) | $12M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $2M |
| TOTAL NON-CURRENT ASSETS | $15M |
| TOTAL ASSETS | $340M |
| Account Payables | $8M |
| Short-Term Debt | $0 |
| Deferred Revenue | $12M |
| Other Current Liabilities | $14M |
| TOTAL CURRENT LIABILITIES | $45M |
| Long-Term Debt | $139M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $130M |
| TOTAL NON-CURRENT LIABILITIES | $278M |
| TOTAL LIABILITIES | $323M |
| Common Stock | $50.0K |
| Additional Paid-In Capital | $763M |
| Retained Earnings | -$739M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$7M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $17M |
| Minority Interest | $0 |
| TOTAL EQUITY | $17M |
| TOTAL LIABILITIES & EQUITY | $340M |
| Total Debt | $150M |
| Net Debt | -$94M |
