$2.65M
Revenue
$-101.36M
Net Income
-580.11%
Gross Margin
-4253.00%
Op. Margin
$-165.42M
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 | $2.65M | $2.65M | $1.81M | $207.54K | - | - |
| Revenue Growth % | 0.0% | 46.3% | 773.3% | nan% | nan% | nan% |
| Cost of Revenue | $18.03M | $18.03M | $1.89M | $1.73M | $1.15M | - |
| Gross Profit | $-15.38M | $-15.38M | $-75.16K | $-1.52M | $-1.04M | - |
| Gross Margin % | -580.1% | -580.2% | -4.1% | -733.7% | nan% | nan% |
| Operating Expenses | $97.39M | $97.39M | $38.21M | $19.20M | $19.91M | - |
| Research & Development | $45.27M | $45.27M | $24.26M | $9.95M | $13.57M | - |
| Operating Income | $-112.77M | $-112.77M | $-38.29M | $-20.73M | $-51.35K | $-54.63K |
| Operating Margin % | -4253.0% | -4253.8% | -2112.5% | -9987.0% | nan% | nan% |
| Interest Expense | $353.26K | $224.00K | $78.50K | $2.26M | $636.33K | - |
| Interest Income | $7.27M | $7.27M | $1.28M | - | - | - |
| Other Income/Expense | $90.39K | $91.00K | - | $-4.09M | $-902.07K | - |
| Income Before Tax | - | $-105.02M | $-39.19M | - | - | - |
| Income Tax Expense | $-3.66M | $-3.66M | - | - | - | - |
| Net Income | $-101.36M | $-101.36M | $-39.19M | $-24.81M | $-51.35K | $-54.63K |
| Net Margin % | -3822.8% | -3823.5% | -2162.3% | -11955.8% | nan% | nan% |
| Basic EPS | nan | -1.63 | -1.07 | -1.75 | -0.01 | -0.01 |
| Diluted EPS | nan | -1.63 | -1.07 | -1.75 | -0.01 | -0.01 |
| Basic Shares Outstanding | 3.8M | 62.3M | 36.7M | 14.2M | 5.0M | 5.0M |
| Diluted Shares Outstanding | 3.8M | 62.3M | 36.7M | 14.2M | 5.0M | 5.0M |
| 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 | $106.24M | $123.27M | $6.76K | $2.72M | $271.00 |
| Accounts Receivable | $851.00K | $86.81K | $2.96K | $23.70K | - |
| Inventory | - | $309.71K | $774.35K | $618.26K | - |
| Other Current Assets | $77.00K | - | - | - | - |
| Total Current Assets | $241.07M | $125.25M | $1.46M | $457.00 | $271.00 |
| Property Plant & Equipment | $47.01M | $11.96M | $48.42K | $3.38M | - |
| Goodwill | $15.53M | - | - | - | - |
| Intangible Assets | $31.31M | - | - | - | - |
| Long-term Investments | $26.34M | - | - | - | - |
| Other Non-current Assets | $1.11M | $578.00K | - | - | - |
| Total Assets | $367.75M | $139.60M | $2.80M | $457.00 | $271.00 |
| Accounts Payable | $5.01M | $4.90M | $2.05M | $10.00K | $7.50K |
| Accrued Liabilities | $6.48M | $654.47K | $255.85K | $37.43K | - |
| Deferred Revenue | $1.80K | $20.10K | - | - | - |
| Total Current Liabilities | $13.30M | $6.81M | $6.24M | $124.00K | $72.46K |
| Deferred Tax Liabilities | $255.00K | - | - | - | - |
| Total Liabilities | $17.01M | $7.92M | $6.84M | $124.00K | $72.46K |
| Common Stock | $7.00K | $5.13K | $2.45K | $500.00 | $500.00 |
| Retained Earnings | $-208.89M | $-107.53M | $-68.33M | $-124.04K | $-72.69K |
| Total Stockholders Equity | $350.74M | $131.68M | $-4.03M | $-123.54K | $-72.19K |
| Total Liabilities & Equity | $367.75M | $139.60M | $2.80M | $457.00 | $271.00 |
| 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 | $-101.36M | $-101.36M | $-39.19M | $-24.81M | $-51.35K | $-54.63K |
| Depreciation & Amortization | - | $8.21M | $310.00K | - | - | - |
| Stock-based Compensation | $33.41M | $21.25M | $14.55M | $544.38K | $195.06K | - |
| Deferred Income Tax | - | $-4.70M | - | - | - | - |
| Change in Receivables | $1.49M | $697.00K | $83.85K | $-20.74K | $23.70K | - |
| Change in Inventory | - | - | $-464.64K | $156.09K | $154.84K | - |
| Change in Payables | $-2.77M | $-2.02M | $872.25K | $1.89M | $-174.28K | - |
| Operating Cash Flow | $-115.13M | $-80.24M | $-21.54M | $-15.97M | $-48.85K | $-51.63K |
| Capital Expenditure | $50.29M | $37.33M | $10.25M | $4.91K | $3.64M | - |
| Acquisitions | - | $7.50M | - | - | - | - |
| Investing Cash Flow | $-283.23M | $-198.00M | $-10.32M | $-4.91K | $-4.06M | - |
| Stock Issued | $322.47M | $170.77M | - | $10.44M | - | - |
| Financing Cash Flow | $449.26M | $261.21M | $155.12M | $13.27M | $49.04K | $42.46K |
| Net Change in Cash | $50.90M | $-17.03M | $123.26M | - | - | $-9.17K |
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 | $687.00K | - | $1.77M | - |
| Cost of Revenue | $5.07M | - | $10.48M | - |
| Gross Profit | $-4.38M | - | $-8.71M | - |
| Operating Expenses | $30.44M | - | $63.76M | - |
| Research & Development | $13.41M | - | $29.41M | - |
| Operating Income | $-34.82M | - | $-72.47M | - |
| Interest Expense | - | - | $93.00K | - |
| Interest Income | $1.71M | - | $5.29M | - |
| Other Income/Expense | $1.80M | - | $5.38M | - |
| Income Tax Expense | - | - | - | - |
| Net Income | $-33.02M | $-9.04M | $-67.09M | - |
| Basic EPS | -0.54 | - | -1.15 | - |
| Diluted EPS | -0.54 | - | -1.15 | - |
| Basic Shares Outstanding | $61.34M | - | $58.47M | - |
| Diluted Shares Outstanding | $61.34M | - | $58.47M | - |
Condensed Consolidated Balance Sheets
| Description | Sep 30, 2025 | Dec 31, 2024 |
|---|---|---|
| Cash & Cash Equivalents | $116.84M | $123.27M |
| Accounts Receivable | $805.00K | $87.00K |
| Inventory | - | $310.00K |
| Other Current Assets | $133.00K | - |
| Total Current Assets | $219.70M | $125.25M |
| Property Plant & Equipment | $30.06M | $11.96M |
| Goodwill | $11.84M | - |
| Intangible Assets | $32.87M | - |
| Other Non-current Assets | $612.00K | $578.00K |
| Total Assets | $299.10M | $139.60M |
| Accounts Payable | $7.75M | $4.90M |
| Accrued Liabilities | $3.34M | $655.00K |
| Deferred Revenue | $3.00K | $20.00K |
| Total Current Liabilities | $12.76M | $6.81M |
| Total Liabilities | $15.24M | $7.92M |
| Common Stock | $7.00K | $5.00K |
| Retained Earnings | $-174.61M | $-107.53M |
| Total Stockholders Equity | $283.86M | $131.68M |
| Total Liabilities & Equity | $299.10M | $139.60M |
Condensed Consolidated Statements of Cash Flows
| Description | Sep 30, 2025 | Sep 30, 2025 | ||
|---|---|---|---|---|
| Current | Prior Year | Current YTD | Prior Year YTD | |
| Net Income | $-33.02M | $-9.04M | $-67.09M | - |
| Depreciation & Amortization | - | - | $3.39M | - |
| Stock-based Compensation | - | - | $14.92M | - |
| Change in Receivables | - | - | $718.00K | - |
| Change in Inventory | - | - | - | - |
| Change in Payables | - | - | $3.48M | - |
| Operating Cash Flow | - | - | $-50.60M | - |
| Capital Expenditure | - | - | $20.83M | - |
| Acquisitions | - | - | $7.50M | - |
| Sales of Investments | - | - | $14.20M | - |
| Investing Cash Flow | - | - | $-122.14M | - |
| Stock Issued | - | - | $75.85M | - |
| Financing Cash Flow | - | - | $166.26M | - |
| Net Change in Cash | - | - | $-6.43M | - |
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.