$1.21M
Revenue
$-94.98M
Net Income
-1435.43%
Gross Margin
-6856.62%
Op. Margin
$-100.73M
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) |
FY 2020 (Dec 31, 2020) |
FY 2019 (Dec 31, 2019) |
FY 2018 (Dec 31, 2018) |
FY 2017 (Dec 31, 2017) |
FY 2016 (Dec 31, 2016) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Revenue | $1.21M | $1.21M | $4.70M | $7.26M | $664.00K | $2.50M | $3.09M | $8.89M | $17.61M | $10.89M | $14.76M |
| Revenue Growth % | 0.0% | -74.3% | -35.3% | 993.2% | -73.4% | -19.1% | -65.2% | -49.5% | 61.7% | -26.2% | nan% |
| Cost of Revenue | $18.55M | $18.55M | $7.53M | $2.77M | $100.00K | $2.00K | $1.40M | $8.56M | $10.64M | $9.88M | $10.37M |
| Gross Profit | $-17.34M | $-17.34M | $-2.83M | $4.49M | $564.00K | $2.50M | $1.69M | $322.00K | $6.97M | $1.01M | $4.39M |
| Gross Margin % | -1435.4% | -1435.4% | -60.3% | 61.8% | 84.9% | 99.9% | 54.8% | 3.6% | 39.6% | 9.3% | 29.7% |
| Operating Expenses | $65.49M | $65.49M | $82.69M | $93.36M | $54.45M | $46.37M | $15.31M | $26.79M | $34.19M | $25.25M | $20.84M |
| Research & Development | $31.72M | $31.72M | $49.02M | $56.71M | $30.41M | $24.11M | $9.84M | $18.66M | $24.67M | $15.10M | $12.13M |
| Selling General & Admin | $20.32M | $20.32M | $29.35M | $36.69M | $24.04M | $22.26M | $5.92M | $8.13M | $9.52M | $10.16M | $8.74M |
| Operating Income | $-82.83M | $-82.83M | $-85.52M | $-88.88M | $-53.89M | $-43.87M | $-13.62M | $-26.47M | $-27.22M | $-24.24M | $-16.46M |
| Operating Margin % | -6856.6% | -6856.6% | -1821.1% | -1224.3% | -8116.0% | -1754.8% | -440.6% | -297.9% | -154.6% | -222.5% | -111.5% |
| Interest Expense | $21.98M | $7.33M | $4.46M | $80.00K | $62.00K | - | - | - | - | - | - |
| Other Income/Expense | - | - | - | $5.51M | $799.00K | $-23.00K | $-19.00K | $-11.00K | $-30.00K | $-6.00K | $-14.00K |
| Income Before Tax | $-95.06M | $-95.06M | $-96.41M | $-81.70M | $-53.09M | $-43.20M | - | - | - | - | - |
| Income Tax Expense | $-84.00K | $-84.00K | $507.00K | $1.15M | - | - | - | - | - | - | - |
| Net Income | $-94.98M | $-94.98M | $-96.92M | $-82.84M | $-53.09M | $-43.20M | $-13.63M | $-26.48M | $-27.25M | $-24.24M | $-16.47M |
| Net Margin % | -7862.7% | -7862.7% | -2063.8% | -1141.2% | -7995.6% | -1728.0% | -441.2% | -298.0% | -154.8% | -222.6% | -111.6% |
| Basic EPS | nan | -0.35 | -0.46 | -0.45 | -0.32 | -0.27 | -0.10 | nan | nan | nan | nan |
| Diluted EPS | nan | -0.35 | -0.46 | -0.45 | -0.32 | -0.27 | -0.10 | nan | nan | nan | nan |
| Basic Shares Outstanding | 10.9M | 273.1M | 209.5M | 182.8M | 166K | 161K | 140K | - | - | - | - |
| Diluted Shares Outstanding | 10.9M | 273.1M | 209.5M | 182.8M | 166K | 161K | 140K | - | - | - | - |
| 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) |
FY 2020 (Dec 31, 2020) |
FY 2019 (Dec 31, 2019) |
FY 2018 (Dec 31, 2018) |
FY 2017 (Dec 31, 2017) |
FY 2016 (Dec 31, 2016) |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Cash Equivalents | $32.36M | $54.49M | $45.17M | $20.54M | $82.65M | $16.86M | $5.84M | $13.77M | $16.97M | $15.14M |
| Short-term Investments | $42.50M | - | - | - | - | - | - | - | - | - |
| Accounts Receivable | $47.00K | $926.00K | $949.00K | - | - | - | $1.08M | $476.00K | $15.00K | $245.00K |
| Inventory | $745.00K | $2.29M | $3.87M | $1.86M | $1.78M | - | $192.00K | $1.11M | $4.54M | $1.23M |
| Other Current Assets | $4.99M | $4.29M | $4.89M | $2.31M | $2.28M | $698.00K | $729.00K | $1.31M | $945.00K | $731.00K |
| Total Current Assets | $81.11M | $82.47M | $86.75M | $91.01M | $119.43M | $17.56M | $7.84M | $17.65M | $23.15M | $17.35M |
| Property Plant & Equipment | $4.28M | $7.06M | $9.03M | $6.83M | $3.03M | $1.88M | $1.85M | $2.99M | $3.25M | $1.54M |
| Intangible Assets | $32.00K | $10.97M | $17.23M | $75.00K | $115.00K | $164.00K | $221.00K | $486.00K | $602.00K | $718.00K |
| Other Non-current Assets | - | - | - | - | - | $18.00K | $186.00K | $1.47M | $2.26M | $68.00K |
| Total Assets | $103.12M | $121.16M | $129.63M | $115.00M | $130.22M | $21.01M | $11.84M | $23.03M | $29.70M | $20.11M |
| Accounts Payable | $1.63M | $1.13M | $2.27M | $2.06M | $3.58M | $630.00K | $1.87M | $2.41M | $3.06M | $2.19M |
| Accrued Liabilities | $5.43M | $2.54M | $8.64M | $2.06M | $1.17M | $495.00K | $2.04M | $5.60M | $5.86M | $3.88M |
| Deferred Revenue | - | $308.00K | - | - | - | - | - | - | - | - |
| Other Current Liabilities | $388.00K | $458.00K | $669.00K | $839.00K | $1.18M | - | $83.00K | $10.15M | $10.14M | $178.00K |
| Total Current Liabilities | $30.15M | $45.95M | $20.50M | $11.43M | $12.46M | $10.03M | $14.46M | $18.19M | $20.07M | $7.24M |
| Long-term Debt | $19.21M | $33.00M | - | - | - | - | - | - | - | - |
| Other Non-current Liabilities | $1.49M | $1.73M | $614.00K | - | - | - | - | - | - | - |
| Total Liabilities | $47.57M | $72.39M | $33.83M | $25.25M | $17.47M | $12.00M | $15.81M | $18.92M | $24.83M | $12.63M |
| Common Stock | $306.00K | $225.00K | $195.00K | $171.00K | $164.00K | $153.00K | $126.00K | $100.00K | $79.00K | $68.00K |
| Retained Earnings | $-957.26M | $-862.28M | $-765.37M | $-682.52M | $-629.43M | $-586.23M | - | - | - | - |
| Total Stockholders Equity | $55.55M | $48.77M | $95.80M | $89.74M | $112.75M | $9.01M | $-3.98M | $4.12M | $4.87M | $7.47M |
| Total Liabilities & Equity | $103.12M | $121.16M | $129.63M | $115.00M | $130.22M | $21.01M | $11.84M | $23.03M | $29.70M | $20.11M |
| 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) |
FY 2020 (Dec 31, 2020) |
FY 2019 (Dec 31, 2019) |
FY 2018 (Dec 31, 2018) |
FY 2017 (Dec 31, 2017) |
FY 2016 (Dec 31, 2016) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Income | $-123.76M | $-94.98M | $-96.92M | $-82.84M | $-53.09M | $-43.20M | $-13.63M | $-26.48M | $-27.25M | $-24.24M | $-16.47M |
| Depreciation & Amortization | $10.18M | $5.82M | $6.92M | $7.86M | $2.25M | $1.46M | $963.00K | $1.65M | $1.84M | - | - |
| Stock-based Compensation | $6.47M | $701.00K | $11.54M | $16.14M | $15.46M | $15.28M | $1.30M | $1.57M | $1.06M | $1.29M | $1.22M |
| Deferred Income Tax | - | $-416.00K | $-74.00K | $-915.00K | - | - | - | - | - | - | - |
| Change in Receivables | $-2.38M | $-879.00K | $-23.00K | $949.00K | - | - | $-1.08M | $603.00K | $461.00K | $-230.00K | $-1.44M |
| Change in Inventory | $12.30M | $8.28M | $495.00K | $892.00K | $168.00K | $-1.83M | $-24.00K | $1.29M | $982.00K | $4.31M | $558.00K |
| Operating Cash Flow | $-99.64M | $-58.72M | $-68.54M | $-67.09M | $-38.02M | $-29.40M | $-16.07M | $-24.04M | $-22.57M | $-15.48M | $-14.82M |
| Capital Expenditure | $1.08M | $679.00K | $374.00K | $1.94M | $4.36M | $2.49M | $402.00K | $745.00K | - | - | - |
| Acquisitions | - | - | $6.30M | $11.23M | - | - | - | - | - | - | - |
| Purchases of Investments | $81.52M | $51.86M | $26.07M | $41.71M | $90.16M | $32.83M | - | - | - | - | - |
| Investing Cash Flow | $-18.79M | $-24.65M | $2.67M | $21.82M | $-38.07M | $-35.32M | $123.00K | $-745.00K | $-1.12M | $-3.04M | $-891.00K |
| Debt Repayment | - | - | - | - | $392.00K | $488.00K | - | - | - | - | - |
| Stock Issued | $128.87M | $77.37M | $34.75M | $72.28M | $14.00M | $122.89M | $25.43M | $16.88M | $20.36M | $20.35M | $22.98M |
| Financing Cash Flow | $112.36M | $60.87M | $72.89M | $72.44M | $14.31M | $131.16M | $26.98M | $16.86M | - | - | - |
| Net Change in Cash | - | - | - | - | $-61.78M | $66.44M | $11.03M | $-7.93M | $-3.20M | $1.83M | $7.25M |
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 | $241.00K | $190.00K | $985.00K | $3.05M |
| Cost of Revenue | $957.00K | $583.00K | $2.22M | $3.41M |
| Gross Profit | $-716.00K | $-393.00K | $-1.24M | $-368.00K |
| Operating Expenses | $12.01M | $15.31M | $40.18M | $66.68M |
| Research & Development | $7.98M | $8.74M | $23.04M | $40.25M |
| Selling General & Admin | $4.03M | $6.60M | $17.14M | $23.42M |
| Operating Income | $-12.72M | $-15.71M | $-41.42M | $-67.05M |
| Interest Expense | $2.20M | $21.00K | $7.33M | - |
| Income Before Tax | $-14.04M | $-15.41M | $-56.89M | $-65.33M |
| Income Tax Expense | $172.00K | $108.00K | $338.00K | $426.00K |
| Net Income | $-14.22M | $-15.52M | $-57.23M | $-65.76M |
| Basic EPS | -0.05 | -0.07 | -0.22 | -0.32 |
| Diluted EPS | -0.05 | -0.07 | -0.22 | -0.32 |
| Basic Shares Outstanding | $295.46M | $213.00M | $262.24M | $206.16M |
| Diluted Shares Outstanding | $295.46M | $213.00M | $262.24M | $206.16M |
Condensed Consolidated Balance Sheets
| Description | Sep 30, 2025 | Dec 31, 2024 |
|---|---|---|
| Cash & Cash Equivalents | $72.83M | $54.49M |
| Accounts Receivable | $40.00K | $926.00K |
| Inventory | $8.13M | $2.29M |
| Other Current Assets | $6.97M | $4.29M |
| Total Current Assets | $114.98M | $82.47M |
| Property Plant & Equipment | $6.57M | $7.06M |
| Intangible Assets | $10.28M | $10.97M |
| Total Assets | $150.82M | $121.16M |
| Accounts Payable | $1.34M | $1.13M |
| Accrued Liabilities | $3.75M | $2.54M |
| Other Current Liabilities | $672.00K | $458.00K |
| Total Current Liabilities | $39.90M | $45.95M |
| Other Non-current Liabilities | $1.68M | $1.73M |
| Total Liabilities | $60.10M | $72.39M |
| Common Stock | $302.00K | $225.00K |
| Retained Earnings | $-919.51M | $-862.28M |
| Total Stockholders Equity | $90.72M | $48.77M |
| Total Liabilities & Equity | $150.82M | $121.16M |
Condensed Consolidated Statements of Cash Flows
| Description | Sep 30, 2025 | Sep 30, 2025 | ||
|---|---|---|---|---|
| Current | Prior Year | Current YTD | Prior Year YTD | |
| Net Income | $-14.22M | $-15.52M | $-57.23M | $-65.76M |
| Depreciation & Amortization | - | - | $4.35M | $5.25M |
| Stock-based Compensation | - | - | $2.25M | $9.52M |
| Change in Receivables | - | - | $-886.00K | $-717.00K |
| Change in Inventory | - | - | $5.80M | $723.00K |
| Operating Cash Flow | - | - | $-43.31M | $-53.48M |
| Capital Expenditure | - | - | $435.00K | $271.00K |
| Acquisitions | - | - | - | $6.30M |
| Purchases of Investments | - | - | $32.88M | $25.57M |
| Investing Cash Flow | - | - | $-6.62M | $-3.83M |
| Stock Issued | - | - | $73.27M | $26.09M |
| Financing Cash Flow | - | - | $67.76M | $26.16M |
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.