| Metric | Q1 2025 | Q4 2024 | Q1 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $745M | $658M | $413M | 13.1% | 80.2% |
| Op. Income | -$300M | $162M | $35M | -285.8% | -960.6% |
| Gross Margin | 81.5% | 79.9% | 87.8% | 1.6pp | -6.2pp |
| Net Margin | -60.1% | 24.2% | 8.7% | -84.2pp | -68.8pp |
| EPS (Diluted) | $-4.60 | $1.50 | $0.37 | -406.7% | -1343.2% |
| Free Cash Flow | -$629M | $54M | -$285M | -1266.2% | -121.2% |
| Item | Amount |
|---|---|
| REVENUE | $745M |
| Cost of Revenue | $138M |
| GROSS PROFIT | $607M |
| R&D Expenses | $773M |
| Selling & Marketing | $0 |
| General & Administrative | $134M |
| SG&A Expenses | $134M |
| Other Expenses | $601.0K |
| Operating Expenses | $908M |
| Cost & Expenses | $1.0B |
| OPERATING INCOME | -$300M |
| Interest Income | $12M |
| Interest Expense | $5M |
| Other Income/Expenses | -$83M |
| INCOME BEFORE TAX | -$384M |
| Income Tax Expense | $64M |
| Net Income from Continuing Ops | -$448M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$448M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$448M |
| D&A | $10M |
| EBIT | -$379M |
| EBITDA | -$369M |
| EPS | -$5 |
| EPS Diluted | -$5 |
| Item | Amount |
|---|---|
| Net Income | -$448M |
| Depreciation & Amortization | $10M |
| Stock-Based Compensation | $41M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $94M |
| Change in Working Capital | -$282M |
| OPERATING CASH FLOW | -$583M |
| Capital Expenditure | -$46M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$286M |
| Sales/Maturities of Investments | $41M |
| Other Investing Activities | -$2M |
| NET CASH FROM INVESTING | -$291M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $12M |
| NET CASH FROM FINANCING | $12M |
| FREE CASH FLOW | -$629M |
| Net Change in Cash | -$862M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $241M |
| Short-Term Investments | $282M |
| Net Receivables | $725M |
| Inventory | $941M |
| Other Current Assets | $8M |
| TOTAL CURRENT ASSETS | $2.4B |
| PP&E (Net) | $508M |
| Goodwill | $0 |
| Intangible Assets | $26M |
| Long-Term Investments | $109M |
| Tax Assets | $0 |
| Other Non-Current Assets | $390M |
| TOTAL NON-CURRENT ASSETS | $1.0B |
| TOTAL ASSETS | $3.5B |
| Account Payables | $156M |
| Short-Term Debt | $0 |
| Deferred Revenue | $45M |
| Other Current Liabilities | $167M |
| TOTAL CURRENT LIABILITIES | $606M |
| Long-Term Debt | $1.1B |
| Deferred Revenue NC | $325M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $48M |
| TOTAL NON-CURRENT LIABILITIES | $1.7B |
| TOTAL LIABILITIES | $2.3B |
| Common Stock | $10.0K |
| Additional Paid-In Capital | $5.8B |
| Retained Earnings | -$4.7B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $34.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $1.1B |
| Minority Interest | $0 |
| TOTAL EQUITY | $1.1B |
| TOTAL LIABILITIES & EQUITY | $3.5B |
| Total Debt | $1.3B |
| Net Debt | $1.1B |
