$20.22M
Revenue
$-78.64M
Net Income
-9.86%
Gross Margin
-191.47%
Op. Margin
$-26.93M
Free Cash Flow
| Breakdown | TTM (Dec 31, 2025) |
FY 2025 (Dec 31, 2025) |
FY 2024 (Dec 31, 2024) |
FY 2023 (Dec 31, 2023) |
|---|---|---|---|---|
| Total Revenue | $20.22M | $18.08M | $31.30M | $22.08M |
| Revenue Growth % | 11.9% | -42.2% | 41.7% | nan% |
| Cost of Revenue | $22.22M | $20.40M | $23.69M | $19.82M |
| Gross Profit | $-1.99M | $-2.32M | $7.61M | $2.26M |
| Gross Margin % | -9.9% | -12.8% | 24.3% | 10.2% |
| Operating Expenses | $36.73M | $30.23M | $39.45M | $52.54M |
| Research & Development | $3.60M | $2.81M | $5.16M | $8.47M |
| Operating Income | $-38.72M | $-32.55M | $-31.84M | $-50.28M |
| Operating Margin % | -191.5% | -180.0% | -101.7% | -227.7% |
| Interest Expense | - | - | - | $-402.41K |
| Other Income/Expense | $675.72K | $380.13K | $-518.15K | $621.63K |
| Income Before Tax | $-74.31M | $-68.94M | $-34.15M | $-54.35M |
| Income Tax Expense | $-64.55K | $-52.92K | $-35.52K | $8.99K |
| Net Income | $-78.64M | $-72.98M | $-44.87M | $-54.20M |
| Net Margin % | -388.8% | -403.7% | -143.4% | -245.5% |
| Basic EPS | -87.43 | -87.21 | -1.45 | -1.78 |
| Diluted EPS | -87.43 | -87.21 | -1.45 | -1.78 |
| Basic Shares Outstanding | - | 837K | 30.8M | 30.4M |
| Diluted Shares Outstanding | - | 837K | 30.8M | 30.4M |
| Breakdown | FY 2025 (Dec 31, 2025) |
FY 2024 (Dec 31, 2024) |
FY 2023 (Dec 31, 2023) |
|---|---|---|---|
| Cash & Cash Equivalents | $4.48M | $12.55M | $29.38M |
| Short-term Investments | - | $5.50K | $4.24M |
| Accounts Receivable | $1.28M | $3.28M | $6.53M |
| Inventory | $21.94M | $24.01M | $43.91M |
| Other Current Assets | $1.05M | $1.09M | $20.39M |
| Total Current Assets | $45.63M | $65.92M | $104.93M |
| Property Plant & Equipment | $15.92M | $17.40M | $20.40M |
| Goodwill | - | - | $223.49K |
| Intangible Assets | $6.14M | $6.23M | $6.87M |
| Other Non-current Assets | $1.03M | $2.06M | $2.23M |
| Total Assets | $74.43M | $132.57M | $185.54M |
| Accounts Payable | $5.53M | $5.14M | $6.80M |
| Short-term Debt | $1.26M | $249.61K | - |
| Deferred Revenue | $3.02M | $4.12M | $3.39M |
| Other Current Liabilities | $889.67K | $26.23K | $10.47K |
| Total Current Liabilities | $26.66M | $29.11M | $29.30M |
| Long-term Debt | $1.21M | $362.39K | - |
| Total Liabilities | $34.05M | $54.61M | $63.67M |
| Common Stock | $147.00 | - | - |
| Retained Earnings | $-391.87M | $-318.89M | $-274.02M |
| Total Stockholders Equity | $40.28M | $77.84M | $121.87M |
| Total Liabilities & Equity | $74.43M | $132.57M | $185.54M |
| Breakdown | TTM (Dec 31, 2025) |
FY 2025 (Dec 31, 2025) |
FY 2024 (Dec 31, 2024) |
FY 2023 (Dec 31, 2023) |
|---|---|---|---|---|
| Net Income | $-78.64M | $-72.98M | $-44.87M | $-54.20M |
| Depreciation & Amortization | - | $2.20M | $2.01M | $1.67M |
| Stock-based Compensation | - | $2.83M | $3.37M | $5.23M |
| Deferred Income Tax | - | $-49.95K | $-47.85K | - |
| Change in Receivables | - | $-57.46K | $-1.26M | $5.87M |
| Change in Inventory | - | $-118.31K | $-7.93M | $12.18M |
| Change in Payables | - | $259.36K | $1.03K | $3.10M |
| Operating Cash Flow | $-26.93M | $-12.62M | $-21.36M | $-58.46M |
| Capital Expenditure | - | - | $846.12K | $7.64M |
| Investing Cash Flow | $-1.97M | $-866.67K | $4.07M | $-16.39M |
| Financing Cash Flow | $9.00M | $4.90M | $1.23M | $-48.14M |
| Net Change in Cash | $-19.36M | $-8.27M | $-16.61M | $-124.52M |
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 | $4.57M | $16.23M | $13.12M | $25.89M |
| Cost of Revenue | $4.47M | $9.93M | $12.71M | $17.84M |
| Gross Profit | $103.32K | $6.30M | $405.94K | $8.04M |
| Operating Expenses | $6.98M | $12.86M | $21.55M | $29.60M |
| Research & Development | $518.85K | $1.40M | $1.95M | $3.94M |
| Operating Income | $-6.87M | $-6.56M | $-21.15M | $-21.55M |
| Interest Expense | $112.71K | $34.20K | $387.79K | $58.74K |
| Other Income/Expense | $200.57K | $-647.43K | $425.78K | $-799.89K |
| Income Before Tax | $-6.39M | $-5.31M | $-19.97M | $-20.79M |
| Income Tax Expense | $-12.97K | $-12.33K | $-40.01K | $-29.08K |
| Net Income | $-6.71M | $-8.97M | $-22.25M | $-27.38M |
| Basic EPS | -0.14 | -0.29 | -0.56 | -0.89 |
| Diluted EPS | -0.14 | -0.29 | -0.56 | -0.89 |
| Basic Shares Outstanding | $51.22M | $30.84M | $39.57M | $30.83M |
| Diluted Shares Outstanding | $51.22M | $30.84M | $39.57M | $30.83M |
Condensed Consolidated Balance Sheets
| Description | Sep 30, 2025 | Dec 31, 2024 |
|---|---|---|
| Cash & Cash Equivalents | $4.44M | $12.55M |
| Short-term Investments | $1.02K | $5.50K |
| Accounts Receivable | $1.60M | $3.28M |
| Inventory | $24.29M | $24.01M |
| Other Current Assets | $17.06M | $18.08M |
| Total Current Assets | $52.29M | $65.92M |
| Property Plant & Equipment | $16.73M | $17.40M |
| Intangible Assets | $6.16M | $6.23M |
| Other Non-current Assets | $1.11M | $2.06M |
| Total Assets | $112.71M | $132.57M |
| Accounts Payable | $3.72M | $5.14M |
| Short-term Debt | $906.03K | $249.61K |
| Deferred Revenue | $3.70M | $4.12M |
| Other Current Liabilities | $873.58K | $26.23K |
| Total Current Liabilities | $27.35M | $29.11M |
| Long-term Debt | - | $362.39K |
| Total Liabilities | $36.57M | $54.61M |
| Common Stock | - | - |
| Retained Earnings | $-341.14M | $-318.89M |
| Total Stockholders Equity | $76.03M | $77.84M |
| Total Liabilities & Equity | $112.71M | $132.57M |
Condensed Consolidated Statements of Cash Flows
| Description | Sep 30, 2025 | Sep 30, 2025 | ||
|---|---|---|---|---|
| Current | Prior Year | Current YTD | Prior Year YTD | |
| Net Income | $-6.71M | $-8.97M | $-22.25M | $-27.38M |
| Operating Cash Flow | - | - | $-10.78M | $-12.91M |
| Capital Expenditure | - | - | $737.48K | $720.45K |
| Investing Cash Flow | - | - | $-582.64K | $4.86M |
| Financing Cash Flow | - | - | $2.74M | $1.24M |
| Net Change in Cash | - | - | $-8.42M | $-6.74M |
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.