| Metric | Q1 2026 | Q4 2025 | Q1 2025 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $6M | $14M | $18M | -54.0% | -66.1% |
| Op. Income | -$92M | -$83M | -$63M | -11.3% | -47.1% |
| Gross Margin | -1245.8% | 65.9% | -277.5% | -1311.7pp | -968.2pp |
| Net Margin | -1394.3% | -576.1% | -305.4% | -818.2pp | -1089.0pp |
| EPS (Diluted) | $-0.79 | $-0.82 | $-0.67 | 3.7% | -17.9% |
| Free Cash Flow | -$73M | -$73M | -$65M | 0.0% | -13.0% |
| Item | Amount |
|---|---|
| REVENUE | $6M |
| Cost of Revenue | $84M |
| GROSS PROFIT | -$78M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $15M |
| SG&A Expenses | $15M |
| Other Expenses | $0 |
| Operating Expenses | $15M |
| Cost & Expenses | $99M |
| OPERATING INCOME | -$92M |
| Interest Income | $0 |
| Interest Expense | $0 |
| Other Income/Expenses | $5M |
| 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 | $0 |
| EBIT | -$92M |
| EBITDA | -$92M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$87M |
| Depreciation & Amortization | $4M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $8M |
| Change in Working Capital | $4M |
| OPERATING CASH FLOW | -$72M |
| Capital Expenditure | -$1M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$256M |
| Sales/Maturities of Investments | $133M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$124M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $20M |
| FREE CASH FLOW | -$73M |
| Net Change in Cash | -$176M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $71M |
| Short-Term Investments | $470M |
| Net Receivables | $2M |
| Inventory | $0 |
| Other Current Assets | $14M |
| TOTAL CURRENT ASSETS | $554M |
| PP&E (Net) | $73M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $8M |
| TOTAL NON-CURRENT ASSETS | $82M |
| TOTAL ASSETS | $636M |
| Account Payables | $10M |
| Short-Term Debt | $3M |
| Deferred Revenue | $19M |
| Other Current Liabilities | $33M |
| TOTAL CURRENT LIABILITIES | $92M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $8M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $0 |
| TOTAL NON-CURRENT LIABILITIES | $63M |
| TOTAL LIABILITIES | $155M |
| Common Stock | $103.0K |
| Additional Paid-In Capital | $1.6B |
| Retained Earnings | -$1.1B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $56.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $481M |
| Minority Interest | $0 |
| TOTAL EQUITY | $481M |
| TOTAL LIABILITIES & EQUITY | $636M |
| Total Debt | $59M |
| Net Debt | -$13M |
