| Metric | Q1 2025 | Q4 2024 | Q1 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $18M | $13M | $17M | 38.9% | 11.3% |
| Op. Income | -$63M | -$65M | -$45M | 2.8% | -39.0% |
| Gross Margin | -277.5% | -406.1% | -201.5% | 128.5pp | -76.0pp |
| Net Margin | -305.4% | -440.7% | -250.3% | 135.4pp | -55.0pp |
| EPS (Diluted) | $-0.67 | $-0.75 | $-0.76 | 10.7% | 11.8% |
| Free Cash Flow | -$65M | -$51M | -$45M | -27.0% | -44.0% |
| Item | Amount |
|---|---|
| REVENUE | $18M |
| Cost of Revenue | $70M |
| GROSS PROFIT | -$51M |
| R&D Expenses | $70M |
| Selling & Marketing | $0 |
| General & Administrative | $12M |
| SG&A Expenses | $12M |
| Other Expenses | -$70M |
| Operating Expenses | $12M |
| Cost & Expenses | $81M |
| OPERATING INCOME | -$63M |
| Interest Income | $7M |
| Interest Expense | $0 |
| Other Income/Expenses | $7M |
| INCOME BEFORE TAX | -$56M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | -$56M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$56M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$56M |
| D&A | $2M |
| EBIT | -$63M |
| EBITDA | -$61M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$56M |
| Depreciation & Amortization | $4M |
| Stock-Based Compensation | $9M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$4M |
| Change in Working Capital | -$14M |
| OPERATING CASH FLOW | -$61M |
| Capital Expenditure | -$3M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$110M |
| Sales/Maturities of Investments | $139M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $26M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $1M |
| FREE CASH FLOW | -$65M |
| Net Change in Cash | -$34M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $76M |
| Short-Term Investments | $474M |
| Net Receivables | $0 |
| Inventory | $0 |
| Other Current Assets | $14M |
| TOTAL CURRENT ASSETS | $564M |
| PP&E (Net) | $45M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $7M |
| TOTAL NON-CURRENT ASSETS | $51M |
| TOTAL ASSETS | $615M |
| Account Payables | $8M |
| Short-Term Debt | $0 |
| Deferred Revenue | $31M |
| Other Current Liabilities | $23M |
| TOTAL CURRENT LIABILITIES | $90M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $24M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $0 |
| TOTAL NON-CURRENT LIABILITIES | $44M |
| TOTAL LIABILITIES | $134M |
| Common Stock | $76.0K |
| Additional Paid-In Capital | $1.3B |
| Retained Earnings | -$795M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $226.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $481M |
| Minority Interest | $0 |
| TOTAL EQUITY | $481M |
| TOTAL LIABILITIES & EQUITY | $615M |
| Total Debt | $27M |
| Net Debt | -$49M |
