$1.21M
Revenue
$-94.98M
Net Income
-1435.43%
Gross Margin
-6856.62%
Op. Margin
$-100.73M
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) |
Q1 2024 (Mar 31, 2024) |
Q4 2023 (Dec 31, 2023) |
Q3 2023 (Sep 30, 2023) |
Q2 2023 (Jun 30, 2023) |
Q1 2023 (Mar 31, 2023) |
Q4 2022 (Dec 31, 2022) |
Q3 2022 (Sep 30, 2022) |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Revenue | $223.00K | $241.00K | $155.00K | $589.00K | $1.65M | $190.00K | $1.90M | $956.00K | $5.10M | $1.05M | $329.00K | $782.00K | - | - |
| Revenue Growth % (YoY) | -86.5% | 26.8% | -91.8% | -38.4% | -67.7% | -81.9% | 477.5% | 22.3% | nan% | nan% | nan% | nan% | nan% | nan% |
| Cost of Revenue | $16.32M | $957.00K | $716.00K | $550.00K | $4.12M | $583.00K | $1.55M | $1.28M | $902.00K | $625.00K | $701.00K | $544.00K | $33.00K | $45.00K |
| Gross Profit | $-16.10M | $-716.00K | $-561.00K | $39.00K | $-2.47M | $-393.00K | $346.00K | $-321.00K | $4.20M | $422.00K | $-372.00K | $238.00K | $-33.00K | $-45.00K |
| Gross Margin % | -7220.6% | -297.1% | -361.9% | 6.6% | -149.5% | -206.8% | 18.2% | -33.6% | 82.3% | 40.3% | -113.1% | 30.4% | nan% | nan% |
| Operating Expenses | $25.31M | $12.01M | $14.10M | $14.08M | $16.01M | $15.31M | $24.98M | $26.39M | $24.09M | $24.32M | $23.53M | $21.43M | $13.96M | $13.06M |
| Research & Development | $8.68M | $7.98M | $7.66M | $7.40M | $8.76M | $8.74M | $14.20M | $17.31M | $14.58M | $15.58M | $13.85M | $12.69M | $7.58M | $7.54M |
| Selling General & Admin | $3.19M | $4.03M | $6.44M | $6.68M | $5.92M | $6.60M | $7.75M | $9.08M | $9.52M | $8.74M | $9.69M | $8.74M | $6.38M | $5.52M |
| Operating Income | $-41.41M | $-12.72M | $-14.66M | $-14.04M | $-18.47M | $-15.71M | $-24.63M | $-26.71M | $-19.89M | $-23.89M | $-23.90M | $-21.19M | $-13.99M | $-13.10M |
| Operating Margin % | -18570.0% | -5278.4% | -9455.5% | -2383.7% | -1119.5% | -8266.3% | -1296.4% | -2793.9% | -389.9% | -2282.2% | -7264.4% | -2709.8% | nan% | nan% |
| Interest Expense | - | $7.33M | $7.33M | $7.33M | $4.41M | - | - | - | - | - | - | - | - | - |
| Other Income/Expense | - | - | $-65.00K | - | - | $297.00K | $785.00K | $631.00K | $664.00K | $637.00K | $3.57M | $639.00K | $520.00K | $251.00K |
| Income Before Tax | $-38.18M | $-14.04M | $-14.14M | $-28.71M | $-31.07M | $-15.41M | $-23.85M | $-26.08M | $-19.26M | $-23.26M | $-20.33M | $-18.85M | $-13.47M | - |
| Income Tax Expense | $-422.00K | $172.00K | $93.00K | $73.00K | $81.00K | $108.00K | $84.00K | $234.00K | $475.00K | $211.00K | $279.00K | $181.00K | - | - |
| Net Income | $-37.76M | $-14.22M | $-14.23M | $-28.78M | $-31.16M | $-15.52M | $-23.93M | $-26.31M | $-19.74M | $-23.47M | $-20.61M | $-19.03M | $-13.47M | $-12.85M |
| Net Margin % | -16930.9% | -5899.2% | -9180.0% | -4886.1% | -1888.2% | -8166.8% | -1259.5% | -2752.4% | -386.9% | -2241.5% | -6264.1% | -2433.1% | nan% | nan% |
| Basic EPS | nan | -0.05 | -0.06 | -0.12 | -0.14 | -0.07 | -0.11 | -0.13 | -0.10 | -0.12 | -0.12 | -0.11 | -0.08 | nan |
| Diluted EPS | nan | -0.05 | -0.06 | -0.12 | -0.14 | -0.07 | -0.11 | -0.13 | -0.10 | -0.12 | -0.12 | -0.11 | -0.08 | nan |
| Basic Shares Outstanding | 10.9M | 295.5M | 254.7M | 235.9M | 3.3M | 213.0M | 208.7M | 196.7M | 2.6M | 188.3M | 177K | 175K | -165.0M | - |
| Diluted Shares Outstanding | 10.9M | 295.5M | 254.7M | 235.9M | 3.3M | 213.0M | 208.7M | 196.7M | 2.6M | 188.3M | 177K | 175K | -165.0M | - |
| 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) |
Q1 2024 (Mar 31, 2024) |
Q4 2023 (Dec 31, 2023) |
Q3 2023 (Sep 30, 2023) |
Q2 2023 (Jun 30, 2023) |
Q1 2023 (Mar 31, 2023) |
Q4 2022 (Dec 31, 2022) |
Q3 2022 (Sep 30, 2022) |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Cash Equivalents | $32.36M | $72.83M | $74.09M | $51.92M | $54.49M | $16.52M | $26.75M | $44.30M | $45.17M | $49.37M | $62.31M | $23.19M | $20.54M | $21.98M |
| Short-term Investments | $42.50M | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Accounts Receivable | $47.00K | $40.00K | $104.00K | $252.00K | $926.00K | $232.00K | $1.97M | $1.12M | $949.00K | $740.00K | $821.00K | $506.00K | - | - |
| Inventory | $745.00K | $8.13M | $6.13M | $2.53M | $2.29M | $4.49M | $4.20M | $3.74M | $3.87M | $3.62M | $2.93M | $3.12M | $1.86M | $1.76M |
| Other Current Assets | $4.99M | $6.97M | $5.47M | $7.10M | $4.29M | $4.86M | $3.65M | $4.30M | $4.89M | $5.76M | $2.33M | $2.18M | $2.31M | $2.83M |
| Total Current Assets | $81.11M | $114.98M | $103.18M | $79.00M | $82.47M | $53.05M | $66.57M | $82.30M | $86.75M | $91.43M | $103.28M | $76.99M | $91.01M | $87.85M |
| Property Plant & Equipment | $4.28M | $6.57M | $6.74M | $6.82M | $7.06M | $7.67M | $8.13M | $8.55M | $9.03M | - | $9.95M | $10.28M | $6.83M | $4.54M |
| Intangible Assets | $32.00K | $10.28M | $10.51M | $10.74M | $10.97M | $12.56M | $13.08M | $16.66M | $17.23M | $17.77M | $18.32M | $19.00M | $75.00K | $85.00K |
| Total Assets | $103.12M | $150.82M | $140.62M | $116.74M | $121.16M | $88.26M | $103.42M | $124.18M | $129.63M | $135.95M | $148.66M | $123.26M | $115.00M | $109.39M |
| Accounts Payable | $1.63M | $1.34M | $1.56M | $1.27M | $1.13M | $1.49M | $1.45M | $2.16M | $2.27M | $2.29M | $1.89M | $3.63M | $2.06M | $1.52M |
| Accrued Liabilities | $5.43M | $3.75M | $2.27M | $2.19M | $2.54M | $5.89M | $8.89M | $9.97M | $8.64M | $7.20M | $6.59M | $4.22M | $2.06M | $1.59M |
| Deferred Revenue | - | - | - | - | $308.00K | - | - | - | - | - | - | - | - | - |
| Other Current Liabilities | $388.00K | $672.00K | - | $116.00K | $458.00K | $902.00K | $24.00K | $270.00K | $669.00K | $1.06M | - | $211.00K | $839.00K | $1.46M |
| Total Current Liabilities | $30.15M | $39.90M | $42.83M | $41.85M | $45.95M | $10.61M | $12.65M | $17.75M | $20.50M | $24.07M | $22.70M | $22.16M | $11.43M | $9.96M |
| Long-term Debt | $19.21M | - | - | - | $33.00M | - | - | - | - | - | - | - | - | - |
| Deferred Tax Liabilities | - | - | - | - | - | - | - | - | - | - | - | $823.00K | - | - |
| Other Non-current Liabilities | $1.49M | $1.68M | $1.74M | $1.69M | $1.73M | $134.00K | $120.00K | $270.00K | $614.00K | $597.00K | $81.00K | $17.00K | - | - |
| Total Liabilities | $47.57M | $60.10M | $63.51M | $63.54M | $72.39M | $22.41M | $24.71M | $30.38M | $33.83M | $37.69M | $36.15M | $36.72M | $25.25M | $23.77M |
| Common Stock | $306.00K | $302.00K | $278.00K | $245.00K | $225.00K | $213.00K | $212.00K | $206.00K | $195.00K | $190.00K | $188.00K | $176.00K | $171.00K | $166.00K |
| Retained Earnings | $-957.26M | $-919.51M | $-905.29M | $-891.06M | $-862.28M | $-831.13M | $-815.61M | $-791.68M | $-765.37M | $-745.63M | $-722.16M | $-701.55M | $-682.52M | $-669.05M |
| Total Stockholders Equity | $55.55M | $90.72M | $77.10M | $53.20M | $48.77M | $65.86M | $78.71M | $93.80M | $95.80M | $98.26M | $112.50M | $86.54M | $89.74M | $85.62M |
| Total Liabilities & Equity | $103.12M | $150.82M | $140.62M | $116.74M | $121.16M | $88.26M | $103.42M | $124.18M | $129.63M | $135.95M | $148.66M | $123.26M | $115.00M | $109.39M |
| 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) |
Q1 2024 (Mar 31, 2024) |
Q4 2023 (Dec 31, 2023) |
Q3 2023 (Sep 30, 2023) |
Q2 2023 (Jun 30, 2023) |
Q1 2023 (Mar 31, 2023) |
Q4 2022 (Dec 31, 2022) |
Q3 2022 (Sep 30, 2022) |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Income | $-37.76M | $-14.22M | $-43.01M | $-28.78M | $-31.16M | $-15.52M | $-50.24M | $-26.31M | $-19.74M | $-63.10M | $-20.61M | $-19.03M | $-13.47M | $-12.85M |
| Depreciation & Amortization | $1.48M | $4.35M | $2.95M | $1.41M | $1.67M | $5.25M | $3.57M | $1.80M | $1.58M | $6.29M | $4.15M | $2.52M | $821.00K | $1.43M |
| Stock-based Compensation | $-1.55M | $2.25M | $3.85M | $1.92M | $2.01M | $9.52M | $7.10M | $3.74M | $4.63M | $11.51M | $6.82M | $2.95M | $3.53M | $11.94M |
| Change in Receivables | $7.00K | $-886.00K | $-822.00K | $-674.00K | $694.00K | $-717.00K | $1.02M | $172.00K | $209.00K | $740.00K | $821.00K | $506.00K | - | - |
| Change in Inventory | $2.48M | $5.80M | $3.80M | $228.00K | $-228.00K | $723.00K | $410.00K | $-102.00K | $273.00K | $619.00K | $-69.00K | $87.00K | $210.00K | $-42.00K |
| Operating Cash Flow | $-15.40M | $-43.31M | $-26.83M | $-14.10M | $-15.06M | $-53.48M | $-39.39M | $-20.76M | $-16.58M | $-50.51M | $-30.12M | $-13.48M | $-8.40M | $-29.62M |
| Capital Expenditure | $244.00K | $435.00K | $307.00K | $99.00K | $103.00K | $271.00K | $280.00K | $114.00K | $-46.00K | $1.98M | $1.48M | $615.00K | $2.34M | $2.02M |
| Acquisitions | - | - | - | - | - | $6.30M | $6.30M | $3.26M | - | $11.23M | $11.23M | $11.23M | - | - |
| Purchases of Investments | $18.98M | $32.88M | $19.33M | $10.33M | $495.00K | $25.57M | $23.49M | $7.80M | $14.61M | $27.10M | $17.30M | $3.90M | $26.43M | - |
| Investing Cash Flow | $-18.02M | $-6.62M | $2.77M | $3.09M | $6.50M | $-3.83M | $-7.41M | $-3.28M | $437.00K | $21.39M | $18.68M | $6.25M | $-7.03M | $-31.04M |
| Debt Repayment | - | - | - | - | - | - | - | - | - | - | - | - | - | $392.00K |
| Stock Issued | $4.11M | $73.27M | $43.29M | $8.21M | $8.65M | $26.09M | $26.11M | $20.96M | $11.68M | $60.61M | $55.87M | $12.69M | - | - |
| Financing Cash Flow | $-6.89M | $67.76M | $43.28M | $8.21M | $46.73M | $26.16M | $26.17M | $21.02M | $11.68M | $60.76M | $56.02M | $12.69M | $13.99M | $315.00K |
| Net Change in Cash | - | - | - | - | - | - | - | - | - | $31.64M | $44.58M | $5.46M | $-1.44M | $-60.34M |
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-Q filings.
Quarterly data represents single quarter results (Q1-Q4). Some items may show year-to-date values if quarterly breakdown is unavailable.