$21.00M
Revenue
$-73.04M
Net Income
53.84%
Gross Margin
-393.40%
Op. Margin
$-120.34M
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 | $21.00M | $21.00M | $2.04M | - | - | - |
| Revenue Growth % | 0.0% | 929.4% | nan% | nan% | nan% | nan% |
| Cost of Revenue | $9.69M | $9.69M | $752.00K | - | - | - |
| Gross Profit | $11.31M | $11.31M | $1.29M | - | - | - |
| Gross Margin % | 53.8% | 53.8% | 63.1% | nan% | nan% | nan% |
| Operating Expenses | $93.92M | $93.92M | $110.54M | $78.16M | $79.57M | $32.01M |
| Research & Development | $67.05M | $67.05M | $72.14M | $30.68M | $27.97M | $15.51M |
| Operating Income | $-82.61M | $-82.61M | $-109.25M | $-78.16M | $-79.57M | $-32.01M |
| Operating Margin % | -393.4% | -393.4% | -5355.3% | nan% | nan% | nan% |
| Interest Income | - | - | - | - | - | $57.97K |
| Other Income/Expense | $-1.21M | $-1.21M | $-479.00K | $425.00K | $-1.79M | $-312.00K |
| Income Before Tax | $-72.81M | $-72.81M | $-100.00M | $-54.25M | $-49.74M | $-31.23M |
| Income Tax Expense | $231.00K | $231.00K | $188.00K | $-853.00K | $1.25M | $25.00K |
| Net Income | $-73.04M | $-73.04M | $-100.19M | $-53.40M | $-50.99M | $-11.54M |
| Net Margin % | -347.8% | -347.8% | -4911.0% | nan% | nan% | nan% |
| Basic EPS | nan | -0.22 | -0.31 | -0.17 | -0.18 | -0.51 |
| Diluted EPS | nan | -0.22 | -0.31 | -0.17 | -0.18 | -0.51 |
| Basic Shares Outstanding | 109K | 330.9M | 321.8M | 315.1M | 288.3M | 61.1M |
| Diluted Shares Outstanding | 109K | 330.9M | 321.8M | 315.1M | 288.3M | 61.1M |
| 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 | $29.54M | $128.80M | $85.67M | $106.62M | $117.28K |
| Accounts Receivable | $4.78M | $950.00K | - | - | - |
| Inventory | $5.15M | $212.00K | $558.00K | $383.00K | - |
| Other Current Assets | $6.71M | $13.20M | $11.71M | $3.79M | $1.56M |
| Total Current Assets | $216.28M | $276.90M | $348.63M | $396.64M | $726.19K |
| Property Plant & Equipment | $28.87M | $38.16M | $37.96M | $27.76M | $12.49M |
| Goodwill | $13.27M | - | - | - | - |
| Intangible Assets | $2.81M | $1.22M | $1.34M | $1.47M | $1.63M |
| Other Non-current Assets | $2.26M | $2.24M | $4.72M | $3.21M | $9.26M |
| Total Assets | $272.65M | $329.79M | $406.81M | $440.44M | $276.78M |
| Accounts Payable | $5.69M | $1.90M | $4.83M | $6.19M | $89.02K |
| Short-term Debt | $830.00K | - | - | - | - |
| Accrued Liabilities | - | - | - | - | $795.59K |
| Deferred Revenue | $2.67M | - | - | - | - |
| Total Current Liabilities | $24.16M | $22.82M | $20.36M | $19.36M | $905.13K |
| Other Non-current Liabilities | $3.41M | $2.60M | $2.75M | $1.76M | $749.00K |
| Total Liabilities | $57.89M | $51.48M | $47.86M | $48.90M | $41.93M |
| Common Stock | $37.00K | $36.00K | $35.00K | $35.00K | $6.00K |
| Retained Earnings | $-371.91M | $-298.87M | $-198.69M | $-145.29M | $-41.15M |
| Total Stockholders Equity | $214.75M | $278.31M | $358.95M | $391.54M | $-41.15M |
| Total Liabilities & Equity | $272.65M | $329.79M | $406.81M | $440.44M | $276.78M |
| 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 | $-73.04M | $-73.04M | $-100.19M | $-53.40M | $-50.99M | $-11.54M |
| Depreciation & Amortization | $17.85M | $10.29M | $8.31M | $5.54M | $2.60M | $1.66M |
| Stock-based Compensation | $21.63M | $10.97M | $19.93M | $20.65M | $22.77M | $4.57M |
| Deferred Income Tax | - | $-471.00K | $-278.00K | - | - | - |
| Change in Receivables | $5.25M | $2.63M | $950.00K | - | - | - |
| Change in Inventory | $874.00K | $1.03M | $-330.00K | $184.00K | $383.00K | - |
| Change in Payables | $906.00K | $1.04M | $-72.00K | $-62.00K | $-3.98M | $1.29M |
| Operating Cash Flow | $-114.85M | $-58.36M | $-66.09M | $-56.41M | $-46.50M | $-2.30M |
| Capital Expenditure | $5.49M | $2.86M | $12.21M | $15.76M | $14.65M | $8.95M |
| Acquisitions | - | $3.03M | - | - | - | - |
| Investing Cash Flow | $-172.22M | $-39.19M | $108.19M | $32.72M | $-296.01M | $-276.00M |
| Stock Repurchased | - | $1.60M | - | - | - | - |
| Financing Cash Flow | $-2.30M | $-1.96M | $1.01M | $3.27M | $289.93M | $278.25M |
| Net Change in Cash | $-288.91M | $-99.18M | $42.43M | $-20.97M | $-53.11M | $-43.99K |
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 | $7.12M | - | $16.44M | - |
| Cost of Revenue | $3.48M | - | $5.64M | - |
| Gross Profit | $3.64M | - | $10.79M | - |
| Operating Expenses | $22.29M | - | $75.72M | - |
| Research & Development | $15.62M | - | $55.22M | - |
| Operating Income | $-18.65M | - | $-64.93M | - |
| Other Income/Expense | $-740.00K | - | $-344.00K | - |
| Income Before Tax | $-21.03M | - | $-55.44M | - |
| Income Tax Expense | $-108.00K | - | $564.00K | - |
| Net Income | $-20.92M | $-19.90M | $-56.00M | - |
| Basic EPS | -0.06 | - | -0.17 | - |
| Diluted EPS | -0.06 | - | -0.17 | - |
| Basic Shares Outstanding | $331.34M | - | $330.81M | - |
| Diluted Shares Outstanding | $331.34M | - | $330.81M | - |
Condensed Consolidated Balance Sheets
| Description | Sep 30, 2025 | Dec 31, 2024 |
|---|---|---|
| Cash & Cash Equivalents | $35.27M | $128.80M |
| Accounts Receivable | $3.37M | $950.00K |
| Inventory | $3.66M | $212.00K |
| Other Current Assets | $9.32M | $13.20M |
| Total Current Assets | $230.36M | $276.90M |
| Property Plant & Equipment | $30.95M | $38.16M |
| Goodwill | $12.62M | - |
| Intangible Assets | $2.87M | $1.22M |
| Other Non-current Assets | $2.34M | $2.24M |
| Total Assets | $288.77M | $329.79M |
| Accounts Payable | $4.78M | $1.90M |
| Total Current Liabilities | $28.01M | $22.82M |
| Other Non-current Liabilities | $2.83M | $2.60M |
| Total Liabilities | $60.57M | $51.48M |
| Common Stock | $36.00K | $36.00K |
| Retained Earnings | $-354.87M | $-298.87M |
| Total Stockholders Equity | $228.20M | $278.31M |
| Total Liabilities & Equity | $288.77M | $329.79M |
Condensed Consolidated Statements of Cash Flows
| Description | Sep 30, 2025 | Sep 30, 2025 | ||
|---|---|---|---|---|
| Current | Prior Year | Current YTD | Prior Year YTD | |
| Net Income | $-20.92M | $-19.90M | $-56.00M | - |
| Depreciation & Amortization | - | - | $7.67M | - |
| Stock-based Compensation | - | - | $8.86M | - |
| Change in Receivables | - | - | $1.28M | - |
| Change in Inventory | - | - | $-368.00K | - |
| Change in Payables | - | - | $178.00K | - |
| Operating Cash Flow | - | - | $-47.95M | - |
| Capital Expenditure | - | - | $2.15M | - |
| Investing Cash Flow | - | - | $-43.70M | - |
| Stock Repurchased | - | - | $1.60M | - |
| Financing Cash Flow | - | - | $-2.01M | - |
| Net Change in Cash | - | - | $-93.49M | - |
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.