| Metric | Q1 2025 | Q4 2024 | Q1 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $137M | $103M | $0 | 32.8% | — |
| Op. Income | -$79M | -$67M | -$152M | -18.4% | 47.8% |
| Gross Margin | 96.7% | 96.7% | — | 0.0pp | — |
| Net Margin | -53.4% | -57.5% | — | 4.1pp | — |
| EPS (Diluted) | $-3.32 | $-2.71 | $-7.38 | -22.5% | 55.0% |
| Free Cash Flow | -$89M | -$105M | -$150M | 15.1% | 40.5% |
| Item | Amount |
|---|---|
| REVENUE | $137M |
| Cost of Revenue | $5M |
| GROSS PROFIT | $133M |
| R&D Expenses | $44M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $168M |
| Other Expenses | $0 |
| Operating Expenses | $212M |
| Cost & Expenses | $217M |
| OPERATING INCOME | -$79M |
| Interest Income | $9M |
| Interest Expense | $3M |
| Other Income/Expenses | $6M |
| INCOME BEFORE TAX | -$73M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | -$73M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$73M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$73M |
| D&A | $379.0K |
| EBIT | -$70M |
| EBITDA | -$70M |
| EPS | -$3 |
| EPS Diluted | -$3 |
| Item | Amount |
|---|---|
| Net Income | -$73M |
| Depreciation & Amortization | $379.0K |
| Stock-Based Compensation | $21M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $492.0K |
| Change in Working Capital | -$37M |
| OPERATING CASH FLOW | -$89M |
| Capital Expenditure | $0 |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$131M |
| Sales/Maturities of Investments | $295M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $164M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $9M |
| FREE CASH FLOW | -$89M |
| Net Change in Cash | $84M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $184M |
| Short-Term Investments | $659M |
| Net Receivables | $61M |
| Inventory | $55M |
| Other Current Assets | $28M |
| TOTAL CURRENT ASSETS | $988M |
| PP&E (Net) | $4M |
| Goodwill | $0 |
| Intangible Assets | $5M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $0 |
| TOTAL NON-CURRENT ASSETS | $9M |
| TOTAL ASSETS | $997M |
| Account Payables | $42M |
| Short-Term Debt | $0 |
| Deferred Revenue | $0 |
| Other Current Liabilities | $18M |
| TOTAL CURRENT LIABILITIES | $167M |
| Long-Term Debt | $118M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $0 |
| TOTAL NON-CURRENT LIABILITIES | $119M |
| TOTAL LIABILITIES | $286M |
| Common Stock | $2.0K |
| Additional Paid-In Capital | $2.6B |
| Retained Earnings | -$1.9B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $389.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $711M |
| Minority Interest | $0 |
| TOTAL EQUITY | $711M |
| TOTAL LIABILITIES & EQUITY | $997M |
| Total Debt | $120M |
| Net Debt | -$64M |
