| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $17M | $8M | $84M | 126.7% | -79.4% |
| Op. Income | -$56M | -$56M | $23M | -0.2% | -345.9% |
| Gross Margin | 86.9% | 100.0% | 100.0% | -13.1pp | -13.1pp |
| Net Margin | -308.4% | -707.8% | 34.9% | 399.5pp | -343.3pp |
| EPS (Diluted) | $-0.30 | $-0.32 | $0.17 | 6.3% | -276.5% |
| Free Cash Flow | -$32M | -$45M | -$44M | 28.5% | 26.6% |
| Item | Amount |
|---|---|
| REVENUE | $17M |
| Cost of Revenue | $2M |
| GROSS PROFIT | $15M |
| R&D Expenses | $53M |
| Selling & Marketing | $0 |
| General & Administrative | $21M |
| SG&A Expenses | $21M |
| Other Expenses | -$2M |
| Operating Expenses | $71M |
| Cost & Expenses | $74M |
| OPERATING INCOME | -$56M |
| Interest Income | $3M |
| Interest Expense | $0 |
| Other Income/Expenses | $3M |
| INCOME BEFORE TAX | -$53M |
| Income Tax Expense | $0 |
| Net Income from Continuing Ops | -$53M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$53M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$53M |
| D&A | $2M |
| EBIT | -$53M |
| EBITDA | -$51M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$53M |
| Depreciation & Amortization | $2M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $9M |
| Change in Working Capital | $10M |
| OPERATING CASH FLOW | -$32M |
| Capital Expenditure | $10.0K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$709.0K |
| NET CASH FROM INVESTING | $10.0K |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | $0 |
| NET CASH FROM FINANCING | $443M |
| FREE CASH FLOW | -$32M |
| Net Change in Cash | $406M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $602M |
| Short-Term Investments | $0 |
| Net Receivables | $1M |
| Inventory | $0 |
| Other Current Assets | $11M |
| TOTAL CURRENT ASSETS | $615M |
| PP&E (Net) | $20M |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $4M |
| Tax Assets | $0 |
| Other Non-Current Assets | $16.0K |
| TOTAL NON-CURRENT ASSETS | $24M |
| TOTAL ASSETS | $638M |
| Account Payables | $16M |
| Short-Term Debt | $8M |
| Deferred Revenue | $44M |
| Other Current Liabilities | $27M |
| TOTAL CURRENT LIABILITIES | $95M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $8M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $0 |
| TOTAL NON-CURRENT LIABILITIES | $17M |
| TOTAL LIABILITIES | $112M |
| Common Stock | $1.6B |
| Additional Paid-In Capital | $228M |
| Retained Earnings | -$1.3B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$250.0K |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $526M |
| Minority Interest | $0 |
| TOTAL EQUITY | $526M |
| TOTAL LIABILITIES & EQUITY | $638M |
| Total Debt | $18M |
| Net Debt | -$584M |
