| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $132.0K | $71M | $72.0K | -99.8% | 83.3% |
| Op. Income | -$123M | -$40M | -$87M | -206.8% | -40.3% |
| Gross Margin | -142.4% | 100.0% | 100.0% | -242.4pp | -242.4pp |
| Net Margin | -91178.0% | -49.0% | -110729.2% | -91129.0pp | 19551.1pp |
| EPS (Diluted) | $-1.11 | $-0.34 | $-0.81 | -226.5% | -37.0% |
| Free Cash Flow | -$24M | -$85M | -$73M | 71.7% | 67.3% |
| Item | Amount |
|---|---|
| REVENUE | $132.0K |
| Cost of Revenue | $320.0K |
| GROSS PROFIT | -$188.0K |
| R&D Expenses | $89M |
| Selling & Marketing | $0 |
| General & Administrative | $34M |
| SG&A Expenses | $34M |
| Other Expenses | -$320.0K |
| Operating Expenses | $123M |
| Cost & Expenses | $123M |
| OPERATING INCOME | -$123M |
| Interest Income | $8M |
| Interest Expense | $7M |
| Other Income/Expenses | $2M |
| INCOME BEFORE TAX | -$120M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | -$120M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$120M |
| Net Income Deductions | -$18M |
| BOTTOM LINE NET INCOME | -$102M |
| D&A | -$340.0K |
| EBIT | -$114M |
| EBITDA | -$114M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$120M |
| Depreciation & Amortization | -$868.0K |
| Stock-Based Compensation | $12M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $4M |
| Change in Working Capital | $81M |
| OPERATING CASH FLOW | -$24M |
| Capital Expenditure | -$240.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$438M |
| Sales/Maturities of Investments | $99M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$339M |
| Net Debt Issuance | $29M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $50M |
| NET CASH FROM FINANCING | $406M |
| FREE CASH FLOW | -$24M |
| Net Change in Cash | $43M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $212M |
| Short-Term Investments | $662M |
| Net Receivables | $0 |
| Inventory | $0 |
| Other Current Assets | $20M |
| TOTAL CURRENT ASSETS | $894M |
| PP&E (Net) | $4M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $2M |
| TOTAL NON-CURRENT ASSETS | $5M |
| TOTAL ASSETS | $899M |
| Account Payables | $9M |
| Short-Term Debt | $753.0K |
| Deferred Revenue | $0 |
| Other Current Liabilities | $61M |
| TOTAL CURRENT LIABILITIES | $71M |
| Long-Term Debt | $50M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $57M |
| TOTAL NON-CURRENT LIABILITIES | $107M |
| TOTAL LIABILITIES | $177M |
| Common Stock | $1M |
| Additional Paid-In Capital | $1.9B |
| Retained Earnings | -$1.3B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $447.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $722M |
| Minority Interest | $0 |
| TOTAL EQUITY | $722M |
| TOTAL LIABILITIES & EQUITY | $899M |
| Total Debt | $51M |
| Net Debt | -$162M |
