| Metric | Q1 2025 | Q4 2024 | Q1 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $17M | — | $29M | — | -42.5% |
| Op. Income | -$121M | — | -$114M | — | -6.0% |
| Gross Margin | 100.0% | — | 91.3% | — | 8.7pp |
| Net Margin | -687.6% | — | -371.3% | — | -316.3pp |
| EPS (Diluted) | $-1.10 | — | $-1.12 | — | 1.8% |
| Free Cash Flow | -$150M | -$86M | -$123M | -73.7% | -21.5% |
| Item | Amount |
|---|---|
| REVENUE | $17M |
| Cost of Revenue | $0 |
| GROSS PROFIT | $17M |
| R&D Expenses | $108M |
| Selling & Marketing | $0 |
| General & Administrative | $29M |
| SG&A Expenses | $29M |
| Other Expenses | $0 |
| Operating Expenses | $137M |
| Cost & Expenses | $137M |
| OPERATING INCOME | -$121M |
| Interest Income | $9M |
| Interest Expense | $0 |
| Other Income/Expenses | $6M |
| INCOME BEFORE TAX | -$114M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | -$114M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$114M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$114M |
| D&A | $2M |
| EBIT | -$121M |
| EBITDA | -$118M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$114M |
| Depreciation & Amortization | $2M |
| Stock-Based Compensation | $22M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$155.0K |
| Change in Working Capital | -$59M |
| OPERATING CASH FLOW | -$149M |
| Capital Expenditure | -$735.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$83M |
| Sales/Maturities of Investments | $178M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $94M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $0 |
| FREE CASH FLOW | -$150M |
| Net Change in Cash | -$55M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $127M |
| Short-Term Investments | $377M |
| Net Receivables | $11M |
| Inventory | $0 |
| Other Current Assets | $37M |
| TOTAL CURRENT ASSETS | $551M |
| PP&E (Net) | $190M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $228M |
| Tax Assets | $0 |
| Other Non-Current Assets | $17M |
| TOTAL NON-CURRENT ASSETS | $435M |
| TOTAL ASSETS | $986M |
| Account Payables | $12M |
| Short-Term Debt | $0 |
| Deferred Revenue | $21M |
| Other Current Liabilities | $10M |
| TOTAL CURRENT LIABILITIES | $113M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $13M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $0 |
| TOTAL NON-CURRENT LIABILITIES | $94M |
| TOTAL LIABILITIES | $206M |
| Common Stock | $10.0K |
| Additional Paid-In Capital | $3.1B |
| Retained Earnings | -$2.3B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $1M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $780M |
| Minority Interest | $0 |
| TOTAL EQUITY | $780M |
| TOTAL LIABILITIES & EQUITY | $986M |
| Total Debt | $119M |
| Net Debt | -$8M |
