$2.20B
Revenue
$529.72M
Net Income
91.18%
Gross Margin
20.07%
Op. Margin
$810.77M
Free Cash Flow
| Breakdown | TTM (Dec 31, 2025) |
FY 2025 (Dec 31, 2025) |
FY 2024 (Dec 31, 2024) |
|---|---|---|---|
| Total Revenue | $2.20B | $2.20B | $1.30B |
| Revenue Growth % | 0.0% | 69.4% | nan% |
| Cost of Revenue | $194.22M | $194.22M | $123.59M |
| Gross Profit | $2.01B | $2.01B | $1.18B |
| Gross Margin % | 91.2% | 91.2% | 90.5% |
| Operating Expenses | $1.76B | $1.76B | $1.86B |
| Research & Development | $783.14M | $783.14M | $935.15M |
| Operating Income | $441.98M | $441.98M | $-560.57M |
| Operating Margin % | 20.1% | 20.1% | -43.1% |
| Other Income/Expense | $86.71M | $86.71M | $75.36M |
| Income Before Tax | $528.69M | $528.69M | $-485.21M |
| Income Tax Expense | $-1.03M | $-1.03M | $-931.00K |
| Net Income | $529.72M | $529.72M | $-484.28M |
| Net Margin % | 24.1% | 24.1% | -37.2% |
| Basic EPS | 2.83 | 2.84 | -3.33 |
| Diluted EPS | 2.62 | 2.62 | -3.33 |
| Basic Shares Outstanding | - | 186.4M | 145.5M |
| Diluted Shares Outstanding | - | 202.1M | 145.5M |
| Breakdown | FY 2025 (Dec 31, 2025) |
FY 2024 (Dec 31, 2024) |
|---|---|---|
| Cash & Cash Equivalents | $953.57M | $562.09M |
| Accounts Receivable | $590.16M | $349.53M |
| Other Current Assets | $69.01M | $33.06M |
| Total Current Assets | $3.14B | $2.22B |
| Property Plant & Equipment | $12.71M | $12.65M |
| Goodwill | $42.17M | $42.17M |
| Intangible Assets | $15.52M | $25.42M |
| Other Non-current Assets | $11.99M | $9.70M |
| Total Assets | $3.24B | $2.34B |
| Accounts Payable | $62.93M | $45.42M |
| Accrued Liabilities | $201.33M | $124.46M |
| Deferred Revenue | $18.04M | $14.80M |
| Other Current Liabilities | $16.36M | $7.46M |
| Total Current Liabilities | $271.28M | $176.02M |
| Other Non-current Liabilities | $22.66M | $9.26M |
| Total Liabilities | $310.13M | $205.85M |
| Retained Earnings | $-671.12M | $-1.20B |
| Total Stockholders Equity | $2.93B | $2.13B |
| Total Liabilities & Equity | $3.24B | $2.34B |
| Breakdown | TTM (Dec 31, 2025) |
FY 2025 (Dec 31, 2025) |
FY 2024 (Dec 31, 2024) |
|---|---|---|---|
| Net Income | $555.88M | $529.72M | $-484.28M |
| Depreciation & Amortization | $15.95M | $15.95M | $15.64M |
| Stock-based Compensation | $343.18M | $343.18M | $801.65M |
| Deferred Income Tax | - | $-4.63M | $-2.12M |
| Change in Receivables | $241.36M | $241.36M | $104.28M |
| Change in Payables | $18.17M | $18.17M | $-570.00K |
| Operating Cash Flow | $818.45M | $690.88M | $222.07M |
| Capital Expenditure | $7.68M | $6.71M | $6.25M |
| Acquisitions | - | - | $17.14M |
| Sales of Investments | $2.07B | $2.07B | $1.57B |
| Investing Cash Flow | $-246.39M | $-218.89M | $-440.69M |
| Financing Cash Flow | $-107.05M | $-80.56M | $379.54M |
| Net Change in Cash | $465.01M | $391.43M | $160.92M |
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 | $584.91M | $348.35M | $1.48B | $872.50M |
| Cost of Revenue | $52.51M | $34.63M | $135.50M | $91.75M |
| Operating Expenses | $446.37M | $341.50M | $1.27B | $1.49B |
| Research & Development | $196.38M | $166.70M | $584.26M | $746.51M |
| Operating Income | $138.54M | $6.85M | $210.16M | $-613.44M |
| Other Income/Expense | $22.04M | $22.97M | $63.72M | $58.25M |
| Income Before Tax | $160.58M | $29.82M | $273.87M | $-555.19M |
| Income Tax Expense | $-2.09M | $-31.00K | $-4.25M | $118.00K |
| Net Income | $162.66M | $29.85M | $278.12M | $-555.31M |
| Basic EPS | 0.87 | 0.18 | 1.50 | -4.12 |
| Diluted EPS | 0.80 | 0.16 | 1.38 | -4.12 |
| Basic Shares Outstanding | $188.04M | $169.17M | $185.18M | $134.72M |
| Diluted Shares Outstanding | $202.73M | $192.32M | $201.66M | $134.72M |
Condensed Consolidated Balance Sheets
| Description | Sep 30, 2025 | Dec 31, 2024 |
|---|---|---|
| Cash & Cash Equivalents | $911.65M | $562.09M |
| Accounts Receivable | $487.63M | $349.53M |
| Other Current Assets | $56.12M | $33.06M |
| Total Current Assets | $2.77B | $2.22B |
| Property Plant & Equipment | $12.94M | $12.65M |
| Goodwill | $42.17M | $42.17M |
| Intangible Assets | $18.00M | $25.42M |
| Other Non-current Assets | $11.22M | $9.70M |
| Total Assets | $2.88B | $2.34B |
| Accounts Payable | $73.05M | $45.42M |
| Accrued Liabilities | $148.40M | $124.46M |
| Total Current Liabilities | $228.32M | $176.02M |
| Other Non-current Liabilities | $19.23M | $9.26M |
| Total Liabilities | $265.71M | $205.85M |
| Retained Earnings | $-922.72M | $-1.20B |
| Total Stockholders Equity | $2.61B | $2.13B |
| Total Liabilities & Equity | $2.88B | $2.34B |
Condensed Consolidated Statements of Cash Flows
| Description | Sep 30, 2025 | Sep 30, 2025 | ||
|---|---|---|---|---|
| Current | Prior Year | Current YTD | Prior Year YTD | |
| Net Income | $162.66M | $29.85M | $278.12M | $-555.31M |
| Depreciation & Amortization | $3.90M | $3.97M | $11.80M | $11.48M |
| Stock-based Compensation | $83.52M | $74.76M | $258.00M | $716.53M |
| Change in Receivables | $81.00M | $44.11M | $138.75M | $38.91M |
| Change in Payables | $8.00M | $442.00K | $26.94M | $16.48M |
| Operating Cash Flow | $185.16M | $71.62M | $424.07M | $132.07M |
| Capital Expenditure | $2.06M | $1.35M | $3.54M | $5.41M |
| Acquisitions | - | $17.14M | - | $17.14M |
| Sales of Investments | $563.46M | $447.30M | $1.58B | $1.04B |
| Investing Cash Flow | $16.51M | $7.94M | $-13.06M | $-397.59M |
| Financing Cash Flow | $-24.08M | $-31.62M | $-61.49M | $380.24M |
| Net Change in Cash | $177.59M | $47.94M | $349.51M | $114.72M |
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.