$2.65M
Revenue
$-101.36M
Net Income
-580.11%
Gross Margin
-4253.00%
Op. Margin
$-165.42M
Free Cash Flow
| Breakdown | Q4 2025 (Dec 31, 2025) |
Q3 2025 (Sep 30, 2025) |
Q2 2025 (Jun 30, 2025) |
Q1 2025 (Mar 31, 2025) |
Q4 2024 (Dec 31, 2024) |
Q3 2024 (Sep 30, 2024) |
Q2 2024 (Jun 30, 2024) |
|---|---|---|---|---|---|---|---|
| Total Revenue | $882.00K | $687.00K | $642.00K | $440.46K | $175.84K | $221.56K | $468.38K |
| Revenue Growth % (YoY) | 401.6% | 210.1% | 37.1% | nan% | nan% | nan% | nan% |
| Cost of Revenue | $7.56M | $5.07M | $3.50M | $1.91M | $831.88K | $377.30K | $326.01K |
| Gross Profit | $-6.67M | $-4.38M | $-2.86M | $-1.47M | $-656.04K | $-155.75K | $142.36K |
| Gross Margin % | -756.8% | -637.4% | -445.3% | -333.4% | -373.1% | -70.3% | 30.4% |
| Operating Expenses | $33.63M | $30.44M | $19.79M | $13.54M | $12.92M | $8.29M | $8.70M |
| Research & Development | $15.85M | $13.41M | $9.12M | $6.88M | $6.82M | $5.01M | $5.79M |
| Operating Income | $-40.30M | $-34.82M | $-22.64M | $-15.00M | $-13.58M | $-8.45M | $-8.56M |
| Operating Margin % | -4569.4% | -5067.8% | -3527.1% | -3406.6% | -7721.0% | -3811.7% | -1826.7% |
| Interest Expense | $131.00K | $93.00K | $93.00K | $36.26K | $16.01K | $62.49K | $50.10K |
| Interest Income | $1.98M | $1.71M | $1.79M | $1.79M | $490.00K | - | - |
| Other Income/Expense | $-5.29M | $1.80M | $1.79M | $1.79M | $1.36M | $448.85K | $-481.68K |
| Income Tax Expense | $-3.66M | - | - | - | - | - | - |
| Net Income | $-34.27M | $-33.02M | $-20.85M | $-13.22M | $-13.12M | $-8.00M | $-9.04M |
| Net Margin % | -3885.8% | -4806.4% | -3247.7% | -3000.5% | -7461.0% | -3609.1% | -1929.5% |
| Basic EPS | nan | -0.54 | -0.36 | -0.23 | -0.29 | -0.20 | -0.27 |
| Diluted EPS | nan | -0.54 | -0.36 | -0.23 | -0.29 | -0.20 | -0.27 |
| Basic Shares Outstanding | 3.8M | 61.3M | 57.5M | 56.3M | 3.4M | 40.6M | 33.8M |
| Diluted Shares Outstanding | 3.8M | 61.3M | 57.5M | 56.3M | 3.4M | 40.6M | 33.8M |
| Breakdown | Q4 2025 (Dec 31, 2025) |
Q3 2025 (Sep 30, 2025) |
Q2 2025 (Jun 30, 2025) |
Q1 2025 (Mar 31, 2025) |
Q4 2024 (Dec 31, 2024) |
Q3 2024 (Sep 30, 2024) |
Q2 2024 (Jun 30, 2024) |
|---|---|---|---|---|---|---|---|
| Cash & Cash Equivalents | $106.24M | $116.84M | $116.70M | $197.76M | $123.27M | $50.91M | $28.78M |
| Accounts Receivable | $851.00K | $805.00K | $656.00K | $381.45K | $86.81K | $13.10K | $93.13K |
| Inventory | - | - | - | - | $309.71K | $327.36K | $709.29K |
| Other Current Assets | $77.00K | $133.00K | - | - | - | - | - |
| Total Current Assets | $241.07M | $219.70M | $186.53M | $199.97M | $125.25M | $54.89M | $30.88M |
| Property Plant & Equipment | $47.01M | $30.06M | $18.59M | $14.28M | $11.96M | $5.41M | $819.24K |
| Goodwill | $15.53M | $11.84M | $4.59M | - | - | - | - |
| Intangible Assets | $31.31M | $32.87M | $1.43M | - | - | - | - |
| Long-term Investments | $26.34M | - | - | - | - | - | - |
| Other Non-current Assets | $1.11M | $612.00K | $759.00K | $417.41K | $578.00K | - | - |
| Total Assets | $367.75M | $299.10M | $214.31M | $216.59M | $139.60M | $61.47M | $32.77M |
| Accounts Payable | $5.01M | $7.75M | $2.53M | $3.65M | $4.90M | $3.61M | $1.39M |
| Accrued Liabilities | $6.48M | $3.34M | $1.99M | $890.29K | $654.47K | $55.44K | $46.08K |
| Deferred Revenue | $1.80K | $3.00K | $10.00K | - | $20.10K | $14.10K | $52.86K |
| Total Current Liabilities | $13.30M | $12.76M | $5.69M | $5.26M | $6.81M | $5.15M | $4.27M |
| Deferred Tax Liabilities | $255.00K | - | - | - | - | - | - |
| Total Liabilities | $17.01M | $15.24M | $7.11M | $6.43M | $7.92M | $5.29M | $4.30M |
| Common Stock | $7.00K | $7.00K | $6.00K | $5.68K | $5.13K | $4.28K | $3.65K |
| Retained Earnings | $-208.89M | $-174.61M | $-141.59M | $-120.74M | $-107.53M | $-94.41M | $-86.41M |
| Total Stockholders Equity | $350.74M | $283.86M | $207.21M | $210.16M | $131.68M | $56.18M | $28.46M |
| Total Liabilities & Equity | $367.75M | $299.10M | $214.31M | $216.59M | $139.60M | $61.47M | $32.77M |
| Breakdown | Q4 2025 (Dec 31, 2025) |
Q3 2025 (Sep 30, 2025) |
Q2 2025 (Jun 30, 2025) |
Q1 2025 (Mar 31, 2025) |
Q4 2024 (Dec 31, 2024) |
Q3 2024 (Sep 30, 2024) |
Q2 2024 (Jun 30, 2024) |
|---|---|---|---|---|---|---|---|
| Net Income | $-34.27M | $-33.02M | $-20.85M | $-13.22M | $-13.12M | $-26.07M | $-18.08M |
| Depreciation & Amortization | $4.83M | $3.39M | $1.29M | - | $273.00K | - | - |
| Stock-based Compensation | $6.33M | $14.92M | $8.28M | $3.88M | $4.62M | $9.93M | $7.74M |
| Change in Receivables | $-21.00K | $718.00K | $499.00K | $294.65K | $73.71K | $10.14K | $90.18K |
| Change in Inventory | - | - | - | - | $-17.65K | $-446.99K | $-65.06K |
| Change in Payables | $-5.50M | $3.48M | $-485.00K | $-266.68K | $-683.90K | $1.56M | $-663.05K |
| Operating Cash Flow | $-29.64M | $-50.60M | $-25.43M | $-9.46M | $-6.26M | $-15.28M | $-9.82M |
| Capital Expenditure | $16.50M | $20.83M | $9.50M | $3.46M | $4.86M | $5.39M | $798.32K |
| Acquisitions | $-2.00K | $7.50M | $5.63M | - | - | - | - |
| Sales of Investments | - | $14.20M | - | - | - | - | - |
| Investing Cash Flow | $-75.86M | $-122.14M | $-81.93M | $-3.30M | $-4.92M | $-5.39M | $-798.32K |
| Stock Issued | $94.93M | $75.85M | $75.85M | $75.85M | - | - | $35.85M |
| Financing Cash Flow | $94.95M | $166.26M | $100.80M | $87.26M | $83.54M | $71.58M | $39.39M |
| Net Change in Cash | $-10.60M | $-6.43M | $-6.57M | $74.49M | $72.35M | $50.91M | $28.77M |
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-Q filings.
Quarterly data represents single quarter results (Q1-Q4). Some items may show year-to-date values if quarterly breakdown is unavailable.