| Metric | Q1 2026 | Q4 2025 | Q1 2025 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $278M | $258M | $187M | 7.9% | 48.7% |
| Op. Income | -$93M | -$116M | -$725M | 19.8% | 87.2% |
| Gross Margin | 78.3% | 77.4% | 48.8% | 0.9pp | 29.5pp |
| Net Margin | -36.7% | -44.5% | -390.8% | 7.8pp | 354.2pp |
| EPS (Diluted) | $-0.53 | $-0.61 | $-4.15 | 13.3% | 87.2% |
| Free Cash Flow | $37M | $78M | -$37M | -52.8% | 199.1% |
| Item | Amount |
|---|---|
| REVENUE | $278M |
| Cost of Revenue | $60M |
| GROSS PROFIT | $218M |
| R&D Expenses | $82M |
| Selling & Marketing | $170M |
| General & Administrative | $59M |
| SG&A Expenses | $229M |
| Other Expenses | $0 |
| Operating Expenses | $311M |
| Cost & Expenses | $372M |
| OPERATING INCOME | -$93M |
| Interest Income | $8M |
| Interest Expense | $10M |
| Other Income/Expenses | -$8M |
| INCOME BEFORE TAX | -$101M |
| Income Tax Expense | $1M |
| Net Income from Continuing Ops | -$102M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$102M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$102M |
| D&A | $8M |
| EBIT | -$91M |
| EBITDA | -$83M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$102M |
| Depreciation & Amortization | $8M |
| Stock-Based Compensation | $74M |
| Deferred Income Tax | $604.0K |
| Other Non-Cash Items | $24M |
| Change in Working Capital | $35M |
| OPERATING CASH FLOW | $40M |
| Capital Expenditure | -$3M |
| Acquisitions (Net) | -$2M |
| Purchases of Investments | -$120M |
| Sales/Maturities of Investments | $163M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $34M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $15M |
| FREE CASH FLOW | $37M |
| Net Change in Cash | $98M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $284M |
| Short-Term Investments | $478M |
| Net Receivables | $166M |
| Inventory | $0 |
| Other Current Assets | $189M |
| TOTAL CURRENT ASSETS | $1.1B |
| PP&E (Net) | $55M |
| Goodwill | $102M |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $201M |
| TOTAL NON-CURRENT ASSETS | $358M |
| TOTAL ASSETS | $1.5B |
| Account Payables | $10M |
| Short-Term Debt | $0 |
| Deferred Revenue | $839M |
| Other Current Liabilities | $101M |
| TOTAL CURRENT LIABILITIES | $961M |
| Long-Term Debt | $323M |
| Deferred Revenue NC | $670M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $47M |
| TOTAL NON-CURRENT LIABILITIES | $1.1B |
| TOTAL LIABILITIES | $2.0B |
| Common Stock | $5.0K |
| Additional Paid-In Capital | $2.4B |
| Retained Earnings | -$2.9B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $557.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | -$557M |
| Minority Interest | $0 |
| TOTAL EQUITY | -$557M |
| TOTAL LIABILITIES & EQUITY | $1.5B |
| Total Debt | $364M |
| Net Debt | $80M |
