| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $7M | $0 | $0 | — | — |
| Op. Income | -$61M | -$80M | -$85M | 24.6% | 28.7% |
| Gross Margin | 91.4% | — | — | — | — |
| Net Margin | -784.1% | — | — | — | — |
| EPS (Diluted) | $-0.32 | $-0.43 | $-0.45 | 25.6% | 28.9% |
| Free Cash Flow | -$45M | -$62M | -$58M | 27.8% | 22.5% |
| Item | Amount |
|---|---|
| REVENUE | $7M |
| Cost of Revenue | $599.0K |
| GROSS PROFIT | $6M |
| R&D Expenses | $55M |
| Selling & Marketing | $0 |
| General & Administrative | $13M |
| SG&A Expenses | $13M |
| Other Expenses | -$1M |
| Operating Expenses | $67M |
| Cost & Expenses | $68M |
| OPERATING INCOME | -$61M |
| Interest Income | $6M |
| Interest Expense | $0 |
| Other Income/Expenses | $6M |
| INCOME BEFORE TAX | -$55M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | -$55M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$55M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$55M |
| D&A | -$3M |
| EBIT | -$55M |
| EBITDA | -$58M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$55M |
| Depreciation & Amortization | -$258.0K |
| Stock-Based Compensation | $13M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $35.0K |
| Change in Working Capital | -$3M |
| OPERATING CASH FLOW | -$45M |
| Capital Expenditure | -$1.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$34M |
| Sales/Maturities of Investments | $69M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $35M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $934.0K |
| FREE CASH FLOW | -$45M |
| Net Change in Cash | -$8M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $84M |
| Short-Term Investments | $471M |
| Net Receivables | $0 |
| Inventory | $0 |
| Other Current Assets | $24M |
| TOTAL CURRENT ASSETS | $578M |
| PP&E (Net) | $42M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $1M |
| Tax Assets | $0 |
| Other Non-Current Assets | $0 |
| TOTAL NON-CURRENT ASSETS | $43M |
| TOTAL ASSETS | $621M |
| Account Payables | $8M |
| Short-Term Debt | $4M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $14M |
| TOTAL CURRENT LIABILITIES | $26M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $0 |
| TOTAL NON-CURRENT LIABILITIES | $29M |
| TOTAL LIABILITIES | $54M |
| Common Stock | $168.0K |
| Additional Paid-In Capital | $2.6B |
| Retained Earnings | -$2.0B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $733.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $567M |
| Minority Interest | $0 |
| TOTAL EQUITY | $567M |
| TOTAL LIABILITIES & EQUITY | $621M |
| Total Debt | $32M |
| Net Debt | -$52M |
