| Metric | Q1 2025 | Q4 2024 | Q1 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $14M | $54M | $0 | -73.8% | — |
| Op. Income | -$65M | -$22M | -$54M | -188.1% | -18.8% |
| Gross Margin | 100.0% | 100.0% | — | 0.0pp | — |
| Net Margin | -407.1% | -35.7% | — | -371.4pp | — |
| EPS (Diluted) | $-0.66 | $-0.22 | $-0.59 | -200.0% | -11.9% |
| Free Cash Flow | -$72M | $269M | -$49M | -126.9% | -47.6% |
| Item | Amount |
|---|---|
| REVENUE | $14M |
| Cost of Revenue | $0 |
| GROSS PROFIT | $14M |
| R&D Expenses | $56M |
| Selling & Marketing | $0 |
| General & Administrative | $23M |
| SG&A Expenses | $23M |
| Other Expenses | $0 |
| Operating Expenses | $79M |
| Cost & Expenses | $79M |
| OPERATING INCOME | -$65M |
| Interest Income | $8M |
| Interest Expense | $382.0K |
| Other Income/Expenses | $7M |
| INCOME BEFORE TAX | -$57M |
| Income Tax Expense | $226.0K |
| Net Income from Continuing Ops | -$57M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$57M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$57M |
| D&A | -$7M |
| EBIT | -$58M |
| EBITDA | -$65M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$57M |
| Depreciation & Amortization | $241.0K |
| Stock-Based Compensation | $8M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$3M |
| Change in Working Capital | -$20M |
| OPERATING CASH FLOW | -$72M |
| Capital Expenditure | -$292.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$269M |
| Sales/Maturities of Investments | $168M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$101M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $143.0K |
| FREE CASH FLOW | -$72M |
| Net Change in Cash | -$173M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $51M |
| Short-Term Investments | $607M |
| Net Receivables | $49M |
| Inventory | $0 |
| Other Current Assets | $17M |
| TOTAL CURRENT ASSETS | $724M |
| PP&E (Net) | $10M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $9M |
| TOTAL NON-CURRENT ASSETS | $20M |
| TOTAL ASSETS | $744M |
| Account Payables | $5M |
| Short-Term Debt | $2M |
| Deferred Revenue | $41M |
| Other Current Liabilities | $7M |
| TOTAL CURRENT LIABILITIES | $90M |
| Long-Term Debt | $8M |
| Deferred Revenue NC | $272M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $2M |
| TOTAL NON-CURRENT LIABILITIES | $290M |
| TOTAL LIABILITIES | $379M |
| Common Stock | $8.0K |
| Additional Paid-In Capital | $1.3B |
| Retained Earnings | -$953M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $974.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $364M |
| Minority Interest | $0 |
| TOTAL EQUITY | $364M |
| TOTAL LIABILITIES & EQUITY | $744M |
| Total Debt | $19M |
| Net Debt | -$32M |
