| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $3M | $3M | $7M | 3.5% | -61.3% |
| Op. Income | -$98M | -$93M | -$81M | -5.8% | -21.2% |
| Gross Margin | 2763.6% | -2580.7% | 100.0% | 5344.2pp | 2663.6pp |
| Net Margin | -3043.0% | -2973.0% | -956.9% | -70.0pp | -2086.1pp |
| EPS (Diluted) | $-0.98 | $-0.94 | $-0.88 | -4.3% | -11.4% |
| Free Cash Flow | -$67M | -$27M | -$63M | -145.0% | -6.6% |
| Item | Amount |
|---|---|
| REVENUE | $3M |
| Cost of Revenue | -$76M |
| GROSS PROFIT | $79M |
| R&D Expenses | $84M |
| Selling & Marketing | $0 |
| General & Administrative | $17M |
| SG&A Expenses | $17M |
| Other Expenses | $76M |
| Operating Expenses | $177M |
| Cost & Expenses | $101M |
| OPERATING INCOME | -$98M |
| Interest Income | $11M |
| Interest Expense | $69.0K |
| Other Income/Expenses | $11M |
| INCOME BEFORE TAX | -$87M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | -$87M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$87M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$87M |
| D&A | $2M |
| EBIT | -$87M |
| EBITDA | -$85M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$87M |
| Depreciation & Amortization | $2M |
| Stock-Based Compensation | $14M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$2M |
| Change in Working Capital | $6M |
| OPERATING CASH FLOW | -$67M |
| Capital Expenditure | -$106.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$498M |
| Sales/Maturities of Investments | $102M |
| Other Investing Activities | $2M |
| NET CASH FROM INVESTING | -$394M |
| Net Debt Issuance | -$416.0K |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $705M |
| FREE CASH FLOW | -$67M |
| Net Change in Cash | $244M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $357M |
| Short-Term Investments | $491M |
| Net Receivables | $0 |
| Inventory | $0 |
| Other Current Assets | $23M |
| TOTAL CURRENT ASSETS | $871M |
| PP&E (Net) | $86M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $777M |
| Tax Assets | $0 |
| Other Non-Current Assets | $9M |
| TOTAL NON-CURRENT ASSETS | $872M |
| TOTAL ASSETS | $1.7B |
| Account Payables | $4M |
| Short-Term Debt | $14M |
| Deferred Revenue | $23M |
| Other Current Liabilities | $24M |
| TOTAL CURRENT LIABILITIES | $83M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $11M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $0 |
| TOTAL NON-CURRENT LIABILITIES | $80M |
| TOTAL LIABILITIES | $163M |
| Common Stock | $8.0K |
| Additional Paid-In Capital | $2.6B |
| Retained Earnings | -$1.1B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $2M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $1.6B |
| Minority Interest | $0 |
| TOTAL EQUITY | $1.6B |
| TOTAL LIABILITIES & EQUITY | $1.7B |
| Total Debt | $82M |
| Net Debt | -$275M |
