| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $3M | $28M | $31M | -90.9% | -91.9% |
| Op. Income | -$44M | -$22M | -$22M | -99.7% | -98.7% |
| Gross Margin | 32.8% | 100.0% | 100.0% | -67.2pp | -67.2pp |
| Net Margin | -1638.5% | -71.0% | -75.8% | -1567.5pp | -1562.8pp |
| EPS (Diluted) | $-0.55 | $-0.26 | $-0.31 | -111.5% | -77.4% |
| Free Cash Flow | -$11M | -$32M | -$42M | 66.8% | 74.8% |
| Item | Amount |
|---|---|
| REVENUE | $3M |
| Cost of Revenue | $2M |
| GROSS PROFIT | $824.0K |
| R&D Expenses | $31M |
| Selling & Marketing | $0 |
| General & Administrative | $14M |
| SG&A Expenses | $14M |
| Other Expenses | $0 |
| Operating Expenses | $45M |
| Cost & Expenses | $47M |
| OPERATING INCOME | -$44M |
| Interest Income | $3M |
| Interest Expense | $0 |
| Other Income/Expenses | $3M |
| INCOME BEFORE TAX | -$41M |
| Income Tax Expense | -$270.0K |
| NET INCOME | -$41M |
| D&A | -$12M |
| EBIT | -$41M |
| EBITDA | -$54M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$41M |
| Depreciation & Amortization | $2M |
| Stock-Based Compensation | -$3M |
| Deferred Income Tax | $1M |
| Other Non-Cash Items | $13M |
| Change in Working Capital | $19M |
| OPERATING CASH FLOW | -$10M |
| Capital Expenditure | -$569.9K |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$55M |
| Sales/Maturities of Investments | $61M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | $5M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | -$25M |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$87.0K |
| NET CASH FROM FINANCING | -$19M |
| FREE CASH FLOW | -$11M |
| Net Change in Cash | -$24M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $41M |
| Short-Term Investments | $188M |
| Net Receivables | $5M |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $233M |
| PP&E (Net) | $0 |
| Goodwill | $12.0B |
| Intangible Assets | $1.4B |
| Long-Term Investments | $42M |
| Tax Assets | $0 |
| Other Non-Current Assets | -$13.3B |
| TOTAL NON-CURRENT ASSETS | $113M |
| TOTAL ASSETS | $347M |
| Account Payables | $36M |
| Short-Term Debt | $3M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $3M |
| TOTAL CURRENT LIABILITIES | $42M |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $15M |
| Deferred Tax Liabilities | $6M |
| Other Non-Current Liabilities | $278.0K |
| TOTAL NON-CURRENT LIABILITIES | $36M |
| TOTAL LIABILITIES | $78M |
| Common Stock | $1.1B |
| Additional Paid-In Capital | $115M |
| Retained Earnings | -$953M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$6M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $269M |
| Minority Interest | $0 |
| TOTAL EQUITY | $269M |
| TOTAL LIABILITIES & EQUITY | $347M |
| Total Debt | $18M |
| Net Debt | -$23M |
