| Metric | Q1 2026 | Q4 2025 | Q1 2025 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $197M | $197M | $195M | -0.1% | 1.1% |
| Op. Income | -$161M | -$582M | -$151M | 72.2% | -6.9% |
| Gross Margin | -39.2% | -13.0% | -18.7% | -26.1pp | -20.4pp |
| Net Margin | -327.0% | -339.7% | -144.9% | 12.7pp | -182.1pp |
| EPS (Diluted) | $-12.36 | $-12.90 | $-6.69 | 4.2% | -84.8% |
| Free Cash Flow | -$100M | -$456M | -$569M | 78.1% | 82.5% |
| Item | Amount |
|---|---|
| REVENUE | $197M |
| Cost of Revenue | $274M |
| GROSS PROFIT | -$77M |
| R&D Expenses | $32M |
| Selling & Marketing | $0 |
| General & Administrative | $38M |
| SG&A Expenses | $38M |
| Other Expenses | $15M |
| Operating Expenses | $84M |
| Cost & Expenses | $358M |
| OPERATING INCOME | -$161M |
| Interest Income | $9M |
| Interest Expense | $700.0K |
| Other Income/Expenses | -$482M |
| INCOME BEFORE TAX | -$644M |
| Income Tax Expense | $100.0K |
| Net Income from Continuing Ops | -$644M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$644M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$644M |
| D&A | $69M |
| EBIT | -$643M |
| EBITDA | -$574M |
| EPS | -$12 |
| EPS Diluted | -$12 |
| Item | Amount |
|---|---|
| Net Income | -$644M |
| Depreciation & Amortization | $69M |
| Stock-Based Compensation | $14M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $484M |
| Change in Working Capital | $83M |
| OPERATING CASH FLOW | $6M |
| Capital Expenditure | -$105M |
| Acquisitions (Net) | $93M |
| Purchases of Investments | -$83M |
| Sales/Maturities of Investments | $219M |
| Other Investing Activities | $13M |
| NET CASH FROM INVESTING | $137M |
| Net Debt Issuance | -$38M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$600.0K |
| NET CASH FROM FINANCING | -$39M |
| FREE CASH FLOW | -$100M |
| Net Change in Cash | $104M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $531M |
| Short-Term Investments | $354M |
| Net Receivables | $848M |
| Inventory | $414M |
| Other Current Assets | $87M |
| TOTAL CURRENT ASSETS | $2.3B |
| PP&E (Net) | $3.9B |
| Goodwill | $0 |
| Intangible Assets | $24M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $297M |
| TOTAL NON-CURRENT ASSETS | $4.2B |
| TOTAL ASSETS | $6.6B |
| Account Payables | $24M |
| Short-Term Debt | $0 |
| Deferred Revenue | $73M |
| Other Current Liabilities | $29M |
| TOTAL CURRENT LIABILITIES | $300M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $7.3B |
| TOTAL NON-CURRENT LIABILITIES | $7.3B |
| TOTAL LIABILITIES | $7.6B |
| Common Stock | $200.0K |
| Additional Paid-In Capital | $4.1B |
| Retained Earnings | -$5.2B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$3M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | -$1.1B |
| Minority Interest | $0 |
| TOTAL EQUITY | -$1.1B |
| TOTAL LIABILITIES & EQUITY | $6.6B |
| Total Debt | $0 |
| Net Debt | -$531M |
