$11.53M
Revenue
$-23.97M
Net Income
7.90%
Gross Margin
-172.28%
Op. Margin
$-19.70M
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 | $11.53M | $11.53M | $5.38M | $962.00K |
| Revenue Growth % | -0.0% | 114.3% | 459.3% | nan% |
| Cost of Revenue | $10.62M | $10.62M | $8.16M | $6.49M |
| Gross Profit | $911.00K | $913.00K | $-2.78M | $-5.53M |
| Gross Margin % | 7.9% | 7.9% | -51.6% | -574.6% |
| Operating Expenses | $20.77M | $20.77M | $26.41M | $48.95M |
| Research & Development | $2.92M | $2.92M | $6.99M | $10.04M |
| Operating Income | $-19.86M | $-19.86M | $-29.18M | $-54.48M |
| Operating Margin % | -172.3% | -172.2% | -542.5% | -5663.2% |
| Interest Expense | - | - | $1.45M | - |
| Other Income/Expense | $-1.00M | $-1.00M | $-956.00K | $1.00K |
| Income Before Tax | $-23.97M | $-23.97M | $-34.93M | $-51.37M |
| Income Tax Expense | - | - | - | - |
| Net Income | $-23.97M | $-23.97M | $-34.93M | $-51.37M |
| Net Margin % | -207.9% | -207.9% | -649.3% | -5340.2% |
| Basic EPS | nan | -171.77 | -163.28 | -4.15 |
| Diluted EPS | nan | -171.77 | -163.28 | -4.15 |
| Basic Shares Outstanding | -894K | 140K | 214K | 12.4M |
| Diluted Shares Outstanding | -894K | 140K | 214K | 12.4M |
| Breakdown | FY 2025 (Dec 31, 2025) |
FY 2024 (Dec 31, 2024) |
FY 2023 (Dec 31, 2023) |
|---|---|---|---|
| Cash & Cash Equivalents | $512.00K | $138.00K | - |
| Accounts Receivable | $2.61M | $1.43M | $1.00K |
| Inventory | $7.33M | $6.69M | - |
| Other Current Assets | $860.00K | $810.00K | $933.00K |
| Total Current Assets | $14.70M | $8.22M | $5.36M |
| Property Plant & Equipment | $379.00K | $116.00K | $444.00K |
| Goodwill | $15.54M | $13.22M | - |
| Intangible Assets | $7.86M | $6.11M | $2.25M |
| Total Assets | $46.84M | $34.17M | $16.80M |
| Accounts Payable | $8.98M | $11.17M | $10.56M |
| Deferred Revenue | $1.32M | $77.00K | $77.00K |
| Total Current Liabilities | $31.29M | $26.88M | $21.53M |
| Other Non-current Liabilities | $1.75M | - | - |
| Total Liabilities | $38.15M | $27.05M | $22.35M |
| Common Stock | - | $8.00K | $7.00K |
| Retained Earnings | $-227.54M | $-202.59M | $-166.91M |
| Total Stockholders Equity | $6.39M | $7.12M | $-5.55M |
| Total Liabilities & Equity | $46.84M | $34.17M | $16.80M |
| Breakdown | TTM (Dec 31, 2025) |
FY 2025 (Dec 31, 2025) |
FY 2024 (Dec 31, 2024) |
FY 2023 (Dec 31, 2023) |
|---|---|---|---|---|
| Net Income | $-23.97M | $-23.97M | $-34.93M | $-51.37M |
| Stock-based Compensation | $10.06M | $3.08M | $10.25M | $29.94M |
| Deferred Income Tax | - | - | - | - |
| Change in Receivables | $102.00K | $-571.00K | $2.05M | $1.00K |
| Change in Inventory | $-2.96M | $-1.80M | $-1.57M | $1.79M |
| Change in Payables | $-44.00K | $846.00K | $-973.00K | $2.08M |
| Operating Cash Flow | $-19.70M | $-10.41M | $-14.81M | $-15.43M |
| Capital Expenditure | - | $94.00K | - | - |
| Acquisitions | $452.00K | $452.00K | $1.46M | - |
| Investing Cash Flow | $-106.89M | $-53.74M | $-1.68M | $-1.42M |
| Stock Issued | - | - | - | $4.25M |
| Financing Cash Flow | $131.69M | $64.62M | $16.34M | $17.11M |
| Net Change in Cash | $5.14M | $374.00K | $138.00K | $-226.00K |
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 | $4.82M | - | $7.39M | - |
| Cost of Revenue | $3.99M | - | $7.06M | - |
| Gross Profit | $825.00K | - | $329.00K | - |
| Operating Expenses | $6.86M | - | $18.49M | - |
| Research & Development | $404.00K | - | $2.45M | - |
| Operating Income | $-6.03M | - | $-18.16M | - |
| Other Income/Expense | $-56.00K | - | $-1.09M | - |
| Income Before Tax | $-5.23M | - | $-14.01M | - |
| Income Tax Expense | - | - | - | - |
| Net Income | $-5.23M | $-10.64M | $-14.01M | - |
| Basic EPS | -3.11 | - | -13.56 | - |
| Diluted EPS | -3.11 | - | -13.56 | - |
| Basic Shares Outstanding | $1.68M | - | $1.03M | - |
| Diluted Shares Outstanding | $1.68M | - | $1.03M | - |
Condensed Consolidated Balance Sheets
| Description | Sep 30, 2025 | Dec 31, 2024 |
|---|---|---|
| Cash & Cash Equivalents | $845.00K | $138.00K |
| Accounts Receivable | $2.38M | $1.43M |
| Other Current Assets | $1.77M | $810.00K |
| Total Current Assets | $17.37M | $8.22M |
| Property Plant & Equipment | $327.00K | $116.00K |
| Goodwill | $15.14M | $13.22M |
| Intangible Assets | $8.12M | $6.11M |
| Total Assets | $85.44M | $34.17M |
| Accounts Payable | $8.94M | $11.17M |
| Deferred Revenue | $391.00K | $77.00K |
| Total Current Liabilities | $30.81M | $26.88M |
| Other Non-current Liabilities | $1.90M | - |
| Total Liabilities | $67.98M | $27.05M |
| Common Stock | $10.00K | $8.00K |
| Retained Earnings | $-217.19M | $-202.59M |
| Total Stockholders Equity | $14.86M | $7.12M |
| Total Liabilities & Equity | $85.44M | $34.17M |
Condensed Consolidated Statements of Cash Flows
| Description | Sep 30, 2025 | Sep 30, 2025 | ||
|---|---|---|---|---|
| Current | Prior Year | Current YTD | Prior Year YTD | |
| Net Income | $-5.23M | $-10.64M | $-14.01M | - |
| Stock-based Compensation | - | - | $5.29M | - |
| Change in Receivables | - | - | $37.00K | - |
| Change in Inventory | - | - | $-938.00K | - |
| Change in Payables | - | - | $2.01M | - |
| Operating Cash Flow | - | - | $-8.16M | - |
| Acquisitions | - | - | $448.00K | - |
| Investing Cash Flow | - | - | $-53.49M | - |
| Financing Cash Flow | - | - | $62.25M | - |
| Net Change in Cash | - | - | $707.00K | - |
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.