| Metric | Q3 2026 | Q2 2026 | Q3 2025 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $350M | $310M | $236M | 13.0% | 48.3% |
| Op. Income | -$75M | -$94M | -$125M | 20.1% | 39.5% |
| Gross Margin | 81.2% | 79.5% | 76.2% | 1.7pp | 5.0pp |
| Net Margin | -18.2% | -31.0% | -55.4% | 12.7pp | 37.2pp |
| EPS (Diluted) | $-0.32 | $-0.49 | $-0.71 | 34.7% | 55.1% |
| Free Cash Flow | $89M | $56M | $16M | 58.0% | 472.2% |
| Item | Amount |
|---|---|
| REVENUE | $350M |
| Cost of Revenue | $66M |
| GROSS PROFIT | $284M |
| R&D Expenses | $98M |
| Selling & Marketing | $193M |
| General & Administrative | $67M |
| SG&A Expenses | $260M |
| Other Expenses | $2M |
| Operating Expenses | $360M |
| Cost & Expenses | $426M |
| OPERATING INCOME | -$75M |
| Interest Income | $17M |
| Interest Expense | $1M |
| Other Income/Expenses | $15M |
| INCOME BEFORE TAX | -$61M |
| Income Tax Expense | $3M |
| Net Income from Continuing Ops | -$64M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$64M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$64M |
| D&A | $0 |
| EBIT | -$60M |
| EBITDA | -$60M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$64M |
| Depreciation & Amortization | $0 |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $2M |
| Other Non-Cash Items | $122M |
| Change in Working Capital | $27M |
| OPERATING CASH FLOW | $87M |
| Capital Expenditure | $2M |
| Acquisitions (Net) | -$11M |
| Purchases of Investments | -$291M |
| Sales/Maturities of Investments | $201M |
| Other Investing Activities | -$4M |
| NET CASH FROM INVESTING | -$110M |
| Net Debt Issuance | -$2M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$6M |
| NET CASH FROM FINANCING | $8M |
| FREE CASH FLOW | $89M |
| Net Change in Cash | -$16M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $307M |
| Short-Term Investments | $1.3B |
| Net Receivables | $220M |
| Inventory | $0 |
| Other Current Assets | $244M |
| TOTAL CURRENT ASSETS | $2.1B |
| PP&E (Net) | $67M |
| Goodwill | $200M |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $215M |
| TOTAL NON-CURRENT ASSETS | $482M |
| TOTAL ASSETS | $2.5B |
| Account Payables | $12M |
| Short-Term Debt | $0 |
| Deferred Revenue | $968M |
| Other Current Liabilities | $183M |
| TOTAL CURRENT LIABILITIES | $1.2B |
| Long-Term Debt | $1.1B |
| Deferred Revenue NC | $718M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $62M |
| TOTAL NON-CURRENT LIABILITIES | $1.9B |
| TOTAL LIABILITIES | $3.1B |
| Common Stock | $5.0K |
| Additional Paid-In Capital | $2.6B |
| Retained Earnings | -$3.1B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$44.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | -$524M |
| Minority Interest | $0 |
| TOTAL EQUITY | -$524M |
| TOTAL LIABILITIES & EQUITY | $2.5B |
| Total Debt | $1.1B |
| Net Debt | $823M |
