| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | — | — |
| Op. Income | -$362M | -$315M | -$216M | -14.7% | -67.2% |
| EPS (Diluted) | $-1.90 | $-1.61 | $-1.13 | -18.0% | -68.1% |
| Free Cash Flow | -$276M | -$211M | -$140M | -31.1% | -97.9% |
| Item | Amount |
|---|---|
| REVENUE | $0 |
| Cost of Revenue | $5M |
| GROSS PROFIT | -$5M |
| R&D Expenses | $293M |
| Selling & Marketing | $0 |
| General & Administrative | $64M |
| SG&A Expenses | $64M |
| Other Expenses | $0 |
| Operating Expenses | $357M |
| Cost & Expenses | $362M |
| OPERATING INCOME | -$362M |
| Interest Income | $21M |
| Interest Expense | $12M |
| Other Income/Expenses | -$3M |
| INCOME BEFORE TAX | -$365M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | -$365M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$365M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$365M |
| D&A | $5M |
| EBIT | -$353M |
| EBITDA | -$348M |
| EPS | -$2 |
| EPS Diluted | -$2 |
| Item | Amount |
|---|---|
| Net Income | -$365M |
| Depreciation & Amortization | $33M |
| Stock-Based Compensation | $34M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$9M |
| Change in Working Capital | $32M |
| OPERATING CASH FLOW | -$274M |
| Capital Expenditure | -$2M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$296M |
| Sales/Maturities of Investments | $373M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $75M |
| Net Debt Issuance | $244M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$244M |
| NET CASH FROM FINANCING | $366M |
| FREE CASH FLOW | -$276M |
| Net Change in Cash | $166M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $384M |
| Short-Term Investments | $1.6B |
| Net Receivables | $0 |
| Inventory | $0 |
| Other Current Assets | $49M |
| TOTAL CURRENT ASSETS | $2.1B |
| PP&E (Net) | $165M |
| Goodwill | $15M |
| Intangible Assets | $56M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $44M |
| TOTAL NON-CURRENT ASSETS | $279M |
| TOTAL ASSETS | $2.4B |
| Account Payables | $65M |
| Short-Term Debt | $16M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $209M |
| TOTAL CURRENT LIABILITIES | $290M |
| Long-Term Debt | $142M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $2M |
| Other Non-Current Liabilities | $288M |
| TOTAL NON-CURRENT LIABILITIES | $433M |
| TOTAL LIABILITIES | $723M |
| Common Stock | $19.0K |
| Additional Paid-In Capital | $0 |
| Retained Earnings | -$2.9B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $3M |
| Other Equity | $4.5B |
| TOTAL STOCKHOLDERS' EQUITY | $1.6B |
| Minority Interest | $0 |
| TOTAL EQUITY | $1.6B |
| TOTAL LIABILITIES & EQUITY | $2.4B |
| Total Debt | $159M |
| Net Debt | -$225M |
