| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $64M | $240.0K | $12M | 26595.8% | 417.8% |
| Op. Income | -$37M | -$173M | -$117M | 78.9% | 68.7% |
| Gross Margin | 672.1% | -63005.0% | -617.5% | 63677.1pp | 1289.7pp |
| Net Margin | -67.0% | -67975.4% | -845.2% | 67908.4pp | 778.2pp |
| EPS (Diluted) | $-0.31 | $-1.17 | $-0.76 | 73.5% | 59.2% |
| Free Cash Flow | -$21M | -$168M | -$90M | 87.3% | 76.2% |
| Item | Amount |
|---|---|
| REVENUE | $64M |
| Cost of Revenue | -$367M |
| GROSS PROFIT | $431M |
| R&D Expenses | $88M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $24M |
| Other Expenses | $355M |
| Operating Expenses | $467M |
| Cost & Expenses | $101M |
| OPERATING INCOME | -$37M |
| Interest Income | $8M |
| Interest Expense | $0 |
| Other Income/Expenses | -$6M |
| INCOME BEFORE TAX | -$43M |
| Income Tax Expense | -$137.0K |
| Net Income from Continuing Ops | -$43M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$43M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$43M |
| D&A | $3M |
| EBIT | -$43M |
| EBITDA | -$40M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$43M |
| Depreciation & Amortization | $3M |
| Stock-Based Compensation | $23M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$6M |
| Change in Working Capital | -$3M |
| OPERATING CASH FLOW | -$26M |
| Capital Expenditure | $4M |
| Acquisitions (Net) | -$37.0K |
| Purchases of Investments | -$256M |
| Sales/Maturities of Investments | $343M |
| Other Investing Activities | -$5M |
| NET CASH FROM INVESTING | $87M |
| Net Debt Issuance | -$361.0K |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $359.0K |
| NET CASH FROM FINANCING | $1M |
| FREE CASH FLOW | -$21M |
| Net Change in Cash | $62M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $234M |
| Short-Term Investments | $229M |
| Net Receivables | $4M |
| Inventory | $0 |
| Other Current Assets | $48M |
| TOTAL CURRENT ASSETS | $514M |
| PP&E (Net) | $118M |
| Goodwill | $17M |
| Intangible Assets | $8M |
| Long-Term Investments | $315M |
| Tax Assets | $0 |
| Other Non-Current Assets | $32M |
| TOTAL NON-CURRENT ASSETS | $489M |
| TOTAL ASSETS | $1.0B |
| Account Payables | $10M |
| Short-Term Debt | $9M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $74M |
| TOTAL CURRENT LIABILITIES | $93M |
| Long-Term Debt | $89M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | -$33M |
| TOTAL NON-CURRENT LIABILITIES | $145M |
| TOTAL LIABILITIES | $238M |
| Common Stock | $14.0K |
| Additional Paid-In Capital | $2.0B |
| Retained Earnings | -$1.2B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$2M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $765M |
| Minority Interest | $0 |
| TOTAL EQUITY | $765M |
| TOTAL LIABILITIES & EQUITY | $1.0B |
| Total Debt | $187M |
| Net Debt | -$47M |
