$4.05M
Revenue
$-50.22M
Net Income
56.97%
Gross Margin
-1260.76%
Op. Margin
$-44.33M
Free Cash Flow
| Breakdown | TTM (Dec 31, 2025) |
FY 2025 (Dec 31, 2025) |
FY 2024 (Dec 31, 2024) |
FY 2023 (Dec 31, 2023) |
FY 2022 (Dec 31, 2022) |
FY 2021 (Dec 31, 2021) |
|---|---|---|---|---|---|---|
| Total Revenue | $4.05M | $4.05M | $1.88M | $1.50M | $958.00K | $7.73M |
| Revenue Growth % | 0.0% | 115.6% | 25.1% | 56.9% | -87.6% | nan% |
| Cost of Revenue | $1.74M | $1.75M | $1.05M | $1.00M | $880.00K | $4.18M |
| Gross Profit | $2.31M | $2.30M | $740.00K | $413.00K | $-18.00K | $188.00K |
| Gross Margin % | 57.0% | 56.7% | 39.3% | 27.5% | -1.9% | 2.4% |
| Operating Expenses | $53.43M | $53.42M | $61.78M | $25.55M | $17.98M | $74.40M |
| Research & Development | $15.91M | $15.90M | $9.84M | $9.29M | $7.30M | $13.63M |
| Operating Income | $-51.12M | $-51.12M | $-61.04M | $-25.14M | $-18.00M | $-74.21M |
| Operating Margin % | -1260.8% | -1260.8% | -3245.1% | -1672.4% | -1878.6% | -960.4% |
| Interest Expense | $160.00K | $91.00K | $42.00K | $7.00K | $24.00K | $114.00K |
| Other Income/Expense | $1.01M | $1.01M | $462.00K | $394.00K | $-67.00K | $-37.00K |
| Income Before Tax | - | - | - | $-24.86M | $-18.61M | $-73.36M |
| Income Tax Expense | - | - | - | - | - | $-9.26M |
| Net Income | $-50.22M | $-50.22M | $-60.66M | $-27.78M | $-72.90M | $-64.10M |
| Net Margin % | -1238.5% | -1238.5% | -3225.0% | -1848.4% | -7609.8% | -829.5% |
| Basic EPS | nan | -1.65 | -4.66 | -3.75 | -0.66 | -0.72 |
| Diluted EPS | nan | -1.65 | -4.66 | -3.75 | -13.25 | nan |
| Basic Shares Outstanding | 536K | 30.5M | 13.1M | 7.7M | 111K | 89K |
| Diluted Shares Outstanding | 536K | 30.5M | 13.1M | 7.7M | 5.5M | - |
| Breakdown | FY 2025 (Dec 31, 2025) |
FY 2024 (Dec 31, 2024) |
FY 2023 (Dec 31, 2023) |
FY 2022 (Dec 31, 2022) |
FY 2021 (Dec 31, 2021) |
|---|---|---|---|---|---|
| Cash & Cash Equivalents | $11.58M | $8.64M | $9.43M | $19.99M | $35.60M |
| Accounts Receivable | $1.13M | $1.61M | $484.00K | $2.01M | $1.44M |
| Inventory | $446.00K | $410.00K | - | - | - |
| Other Current Assets | $1.42M | $821.00K | $643.00K | $977.00K | $1.20M |
| Total Current Assets | $15.31M | $11.76M | $10.70M | $25.54M | $39.14M |
| Property Plant & Equipment | $9.25M | $6.32M | - | - | - |
| Goodwill | - | - | - | - | $18.68M |
| Intangible Assets | - | $14.61M | $56.59M | $61.63M | $91.25M |
| Other Non-current Assets | $593.00K | $691.00K | $463.00K | $371.00K | $264.00K |
| Total Assets | $25.76M | $35.08M | $74.89M | $100.09M | $159.56M |
| Accounts Payable | $2.54M | $2.28M | $953.00K | $1.25M | $2.45M |
| Accrued Liabilities | $2.46M | $1.94M | $1.65M | $1.77M | $3.38M |
| Other Current Liabilities | $2.78M | $638.00K | - | - | - |
| Total Current Liabilities | $12.07M | $7.28M | $7.19M | $12.11M | $14.12M |
| Total Liabilities | $57.22M | $47.35M | $49.30M | $60.50M | $94.35M |
| Common Stock | $369.21M | $338.24M | $310.30M | $294.93M | $252.95M |
| Retained Earnings | $-400.76M | $-350.54M | $-289.88M | $-260.68M | $-187.77M |
| Total Stockholders Equity | $-31.46M | $-12.27M | $20.47M | $34.29M | $65.22M |
| Total Liabilities & Equity | $25.76M | $35.08M | $74.89M | $100.09M | $159.56M |
| Breakdown | TTM (Dec 31, 2025) |
FY 2025 (Dec 31, 2025) |
FY 2024 (Dec 31, 2024) |
FY 2023 (Dec 31, 2023) |
FY 2022 (Dec 31, 2022) |
FY 2021 (Dec 31, 2021) |
|---|---|---|---|---|---|---|
| Net Income | $-56.89M | $-50.22M | $-60.66M | $-27.78M | $-72.90M | $-64.10M |
| Depreciation & Amortization | $2.20M | $2.20M | $1.56M | $1.59M | $1.53M | - |
| Stock-based Compensation | $3.67M | $2.22M | $1.75M | $2.76M | $10.04M | $6.84M |
| Deferred Income Tax | - | - | - | - | - | $-9.26M |
| Change in Receivables | $341.00K | $-485.00K | $1.13M | $-109.00K | $575.00K | $1.23M |
| Change in Inventory | $368.00K | $36.00K | $410.00K | - | - | - |
| Operating Cash Flow | $-40.18M | $-22.18M | $-20.71M | $-23.32M | $-45.57M | $-35.94M |
| Capital Expenditure | $4.15M | $3.19M | $516.00K | $281.00K | $4.34M | $2.25M |
| Acquisitions | - | - | - | - | - | $607.00K |
| Investing Cash Flow | $-4.15M | $-3.19M | $-512.00K | $-932.00K | $-4.34M | $-13.96M |
| Debt Repayment | - | - | - | - | $1.32M | $1.50M |
| Stock Issued | $87.43M | $29.14M | $26.01M | $13.85M | $32.81M | $65.26M |
| Financing Cash Flow | $85.07M | $28.07M | $20.43M | $12.19M | $35.81M | $78.36M |
| Net Change in Cash | $40.63M | $2.58M | $-796.00K | $-12.07M | $-14.10M | $28.46M |
SEC Filing Format - Data shown as it appears in the Q3 2025 (10-Q) filing
Period ended: Sep 30, 2025
Condensed Consolidated Statements of Operations
| Description | Sep 30, 2025 | Sep 30, 2025 | ||
|---|---|---|---|---|
| Current | Prior Year | Current YTD | Prior Year YTD | |
| Total Revenue | $260.00K | $115.00K | $2.92M | $395.00K |
| Cost of Revenue | $121.00K | $43.00K | $1.11M | $184.00K |
| Gross Profit | $139.00K | $50.00K | $1.80M | $145.00K |
| Operating Expenses | $11.19M | $13.56M | $29.49M | $27.56M |
| Research & Development | $3.88M | $2.82M | $10.07M | $7.58M |
| Operating Income | $-11.05M | $-13.52M | $-27.69M | $-27.41M |
| Interest Expense | - | - | $69.00K | $17.00K |
| Other Income/Expense | $223.00K | $53.00K | $505.00K | $316.00K |
| Income Tax Expense | - | - | - | - |
| Net Income | $-10.85M | $-13.49M | $-27.27M | $-27.15M |
| Basic EPS | -0.34 | -0.98 | -0.91 | -2.36 |
| Diluted EPS | -0.34 | -0.98 | -0.91 | -2.36 |
| Basic Shares Outstanding | $32.03M | $13.71M | $29.94M | $11.62M |
| Diluted Shares Outstanding | $32.03M | $13.71M | $29.94M | $11.62M |
Condensed Consolidated Balance Sheets
| Description | Sep 30, 2025 | Dec 31, 2024 |
|---|---|---|
| Cash & Cash Equivalents | $18.69M | $8.64M |
| Accounts Receivable | $258.00K | $1.61M |
| Inventory | $471.00K | $410.00K |
| Other Current Assets | $1.24M | $821.00K |
| Total Current Assets | $21.39M | $11.76M |
| Intangible Assets | $14.60M | $14.61M |
| Other Non-current Assets | $672.00K | $691.00K |
| Total Assets | $43.94M | $35.08M |
| Accounts Payable | $1.06M | $2.28M |
| Accrued Liabilities | $2.23M | $1.94M |
| Total Current Liabilities | $7.66M | $7.28M |
| Total Liabilities | $53.13M | $47.35M |
| Common Stock | $368.52M | $338.24M |
| Retained Earnings | $-377.81M | $-350.54M |
| Total Stockholders Equity | $-9.20M | $-12.27M |
| Total Liabilities & Equity | $43.94M | $35.08M |
Condensed Consolidated Statements of Cash Flows
| Description | Sep 30, 2025 | Sep 30, 2025 | ||
|---|---|---|---|---|
| Current | Prior Year | Current YTD | Prior Year YTD | |
| Net Income | $-10.85M | $-13.49M | $-27.27M | $-27.15M |
| Depreciation & Amortization | $584.00K | $318.00K | $1.63M | $935.00K |
| Stock-based Compensation | - | - | $1.50M | $1.25M |
| Change in Receivables | - | - | $-1.35M | $-275.00K |
| Change in Inventory | - | - | $61.00K | $232.00K |
| Operating Cash Flow | - | - | $-16.64M | $-15.34M |
| Capital Expenditure | - | - | $1.71M | $302.00K |
| Investing Cash Flow | - | - | $-1.71M | $-302.00K |
| Stock Issued | - | - | $29.14M | $15.81M |
| Financing Cash Flow | - | - | $28.32M | $9.59M |
| Net Change in Cash | - | - | $9.87M | $-6.07M |
All values are in USD (United States Dollars). Data is sourced from SEC EDGAR 10-K filings.
Annual data represents full fiscal year results. FY = Fiscal Year ending.