| Metric | Q1 2025 | Q4 2024 | Q1 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $187M | — | $136M | — | 38.0% |
| Op. Income | -$725M | — | -$85M | — | -756.8% |
| Gross Margin | 48.8% | — | 73.6% | — | -24.8pp |
| Net Margin | -390.8% | — | -65.8% | — | -325.1pp |
| EPS (Diluted) | $-4.15 | — | $-0.51 | — | -717.0% |
| Free Cash Flow | -$37M | — | -$23M | — | -59.7% |
| Item | Amount |
|---|---|
| REVENUE | $187M |
| Cost of Revenue | $96M |
| GROSS PROFIT | $91M |
| R&D Expenses | $285M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $531M |
| Other Expenses | $0 |
| Operating Expenses | $816M |
| Cost & Expenses | $912M |
| OPERATING INCOME | -$725M |
| Interest Income | $3M |
| Interest Expense | $11M |
| Other Income/Expenses | -$8M |
| INCOME BEFORE TAX | -$733M |
| Income Tax Expense | -$1M |
| Net Income from Continuing Ops | -$732M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$732M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$732M |
| D&A | $28M |
| EBIT | -$723M |
| EBITDA | -$695M |
| EPS | -$4 |
| EPS Diluted | -$4 |
| Item | Amount |
|---|---|
| Net Income | -$732M |
| Depreciation & Amortization | $28M |
| Stock-Based Compensation | $630M |
| Deferred Income Tax | -$990.0K |
| Other Non-Cash Items | $11M |
| Change in Working Capital | $33M |
| OPERATING CASH FLOW | -$31M |
| Capital Expenditure | -$6M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$43M |
| Sales/Maturities of Investments | $89M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $41M |
| Net Debt Issuance | -$475.0K |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$350M |
| NET CASH FROM FINANCING | $362M |
| FREE CASH FLOW | -$37M |
| Net Change in Cash | $373M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $503M |
| Short-Term Investments | $104M |
| Net Receivables | $103M |
| Inventory | $4M |
| Other Current Assets | $7M |
| TOTAL CURRENT ASSETS | $778M |
| PP&E (Net) | $46M |
| Goodwill | $100M |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $242M |
| TOTAL NON-CURRENT ASSETS | $388M |
| TOTAL ASSETS | $1.2B |
| Account Payables | $9M |
| Short-Term Debt | $10M |
| Deferred Revenue | $569M |
| Other Current Liabilities | $55M |
| TOTAL CURRENT LIABILITIES | $738M |
| Long-Term Debt | $297M |
| Deferred Revenue NC | $591M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $55M |
| TOTAL NON-CURRENT LIABILITIES | $943M |
| TOTAL LIABILITIES | $1.7B |
| Common Stock | $4.0K |
| Additional Paid-In Capital | $0 |
| Retained Earnings | -$2.4B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$3M |
| Other Equity | $1.9B |
| TOTAL STOCKHOLDERS' EQUITY | -$515M |
| Minority Interest | $0 |
| TOTAL EQUITY | -$515M |
| TOTAL LIABILITIES & EQUITY | $1.2B |
| Total Debt | $308M |
| Net Debt | -$195M |
