| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $36M | $5M | $5M | 586.7% | 687.8% |
| Op. Income | -$108M | -$172M | -$184M | 37.1% | 41.0% |
| Gross Margin | 24.4% | -471.8% | -183.6% | 496.2pp | 208.0pp |
| Net Margin | -304.2% | -3135.3% | -3966.0% | 2831.1pp | 3661.7pp |
| EPS (Diluted) | $-0.21 | $-0.36 | $-0.53 | 41.7% | 60.4% |
| Free Cash Flow | -$47M | -$118M | -$117M | 59.8% | 59.6% |
| Item | Amount |
|---|---|
| REVENUE | $36M |
| Cost of Revenue | $27M |
| GROSS PROFIT | $9M |
| R&D Expenses | $83M |
| Selling & Marketing | $0 |
| General & Administrative | $34M |
| SG&A Expenses | $34M |
| Other Expenses | $0 |
| Operating Expenses | $117M |
| Cost & Expenses | $144M |
| OPERATING INCOME | -$108M |
| Interest Income | $6M |
| Interest Expense | $0 |
| Other Income/Expenses | $232.0K |
| INCOME BEFORE TAX | -$108M |
| Income Tax Expense | $20.0K |
| Net Income from Continuing Ops | -$108M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$108M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$108M |
| D&A | $19M |
| EBIT | -$108M |
| EBITDA | -$89M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$108M |
| Depreciation & Amortization | $19M |
| Stock-Based Compensation | $24M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $8M |
| Change in Working Capital | $11M |
| OPERATING CASH FLOW | -$46M |
| Capital Expenditure | -$1M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$1M |
| Net Debt Issuance | -$2M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $132M |
| FREE CASH FLOW | -$47M |
| Net Change in Cash | $87M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $743M |
| Short-Term Investments | $0 |
| Net Receivables | $25M |
| Inventory | $0 |
| Other Current Assets | $45M |
| TOTAL CURRENT ASSETS | $813M |
| PP&E (Net) | $169M |
| Goodwill | $162M |
| Intangible Assets | $310M |
| Long-Term Investments | $0 |
| Tax Assets | $957.0K |
| Other Non-Current Assets | $19M |
| TOTAL NON-CURRENT ASSETS | $661M |
| TOTAL ASSETS | $1.5B |
| Account Payables | $18M |
| Short-Term Debt | $22M |
| Deferred Revenue | $38M |
| Other Current Liabilities | $70M |
| TOTAL CURRENT LIABILITIES | $148M |
| Long-Term Debt | $56M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $23M |
| Other Non-Current Liabilities | $116M |
| TOTAL NON-CURRENT LIABILITIES | $196M |
| TOTAL LIABILITIES | $343M |
| Common Stock | $5.0K |
| Additional Paid-In Capital | $0 |
| Retained Earnings | -$2.1B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $37M |
| Other Equity | $3.2B |
| TOTAL STOCKHOLDERS' EQUITY | $1.1B |
| Minority Interest | $0 |
| TOTAL EQUITY | $1.1B |
| TOTAL LIABILITIES & EQUITY | $1.5B |
| Total Debt | $78M |
| Net Debt | -$665M |
