$2.97M
Revenue
$-258.76M
Net Income
-
Gross Margin
-9675.62%
Op. Margin
$-367.67M
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 | $2.97M | $1.54M | $7.02M | $6.88M | $2.36M | $4.65M |
| Revenue Growth % | 92.2% | -78.0% | 2.0% | 192.0% | -49.3% | nan% |
| Cost of Revenue | - | $200.00K | $200.00K | $300.00K | - | - |
| Gross Profit | - | $1.34M | $6.82M | $6.58M | - | - |
| Gross Margin % | nan% | 87.1% | 97.2% | 95.6% | nan% | nan% |
| Operating Expenses | $288.91M | $288.91M | $202.10M | $161.43M | $117.59M | $75.89M |
| Research & Development | $245.07M | $245.07M | $163.55M | $118.01M | $82.26M | $53.31M |
| Operating Income | $-287.37M | $-287.37M | $-195.08M | $-154.54M | $-115.23M | $-71.24M |
| Operating Margin % | -9675.6% | -18599.8% | -2778.9% | -2245.3% | -4889.0% | -1531.8% |
| Income Before Tax | - | $-258.76M | $-157.86M | $-141.43M | $-112.33M | $-70.74M |
| Income Tax Expense | - | - | - | - | - | $-227.00K |
| Net Income | $-258.76M | $-258.76M | $-157.86M | $-141.43M | $-112.33M | $-70.51M |
| Net Margin % | -8712.4% | -16748.0% | -2248.8% | -2054.8% | -4765.6% | -1516.0% |
| Basic EPS | -3.90 | -3.90 | -2.45 | -2.92 | -2.40 | -1.64 |
| Diluted EPS | -3.90 | -3.90 | -2.45 | -2.92 | -2.40 | -1.64 |
| Basic Shares Outstanding | - | 66.4M | 64.4M | 48.4M | 47K | 43K |
| Diluted Shares Outstanding | - | 66.4M | 64.4M | 48.4M | 47K | 43K |
| 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 | $28.87M | $28.36M | $34.81M | $29.43M | $39.14M |
| Short-term Investments | $489.70M | $696.92M | $388.78M | $275.52M | $369.11M |
| Other Current Assets | $14.08M | $21.18M | $5.47M | $12.39M | $2.42M |
| Total Current Assets | $534.66M | $747.16M | $431.69M | $317.69M | $410.84M |
| Property Plant & Equipment | $5.33M | $4.35M | $4.06M | $3.75M | $3.55M |
| Intangible Assets | $27.19M | $27.19M | $27.19M | $27.19M | $27.19M |
| Other Non-current Assets | $13.36M | $9.75M | $107.00K | $104.00K | $104.00K |
| Total Assets | $582.98M | $792.34M | $465.63M | $352.74M | $444.65M |
| Accounts Payable | $1.18M | $3.27M | $3.49M | $3.34M | $1.23M |
| Accrued Liabilities | $47.03M | $33.84M | $22.03M | $12.84M | $12.00M |
| Other Current Liabilities | $1.23M | $942.00K | $3.99M | $990.00K | $1.55M |
| Total Current Liabilities | $50.99M | $39.50M | $31.12M | $18.61M | $16.53M |
| Other Non-current Liabilities | $4.04M | $3.47M | $4.40M | $5.33M | $7.35M |
| Total Liabilities | $55.82M | $45.34M | $36.46M | $26.53M | $25.18M |
| Common Stock | $67.00K | $66.00K | $56.00K | $47.00K | $47.00K |
| Retained Earnings | $-1.81B | $-1.56B | $-1.40B | $-1.26B | $-1.14B |
| Total Stockholders Equity | $527.16M | $747.00M | $429.17M | $326.20M | $419.48M |
| Total Liabilities & Equity | $582.98M | $792.34M | $465.63M | $352.74M | $444.65M |
| 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 | - | $-258.76M | $-157.86M | $-141.43M | - | - |
| Depreciation & Amortization | $5.99M | $3.38M | $3.18M | $3.01M | $2.90M | $3.07M |
| Stock-based Compensation | $64.04M | $36.22M | $34.24M | $23.89M | $15.61M | $8.95M |
| Operating Cash Flow | $-363.69M | $-210.94M | $-157.78M | $-107.29M | $-103.73M | $-60.91M |
| Capital Expenditure | $3.97M | $2.71M | $1.92M | $1.82M | $1.83M | $1.25M |
| Purchases of Investments | $810.40M | $384.50M | $789.92M | $424.56M | $188.97M | $389.88M |
| Investing Cash Flow | $344.82M | $209.07M | $-290.13M | $-105.78M | $89.94M | $-216.16M |
| Stock Issued | - | - | $432.30M | $216.22M | - | $269.89M |
| Financing Cash Flow | $2.85M | $2.39M | $441.45M | $218.46M | $4.08M | $272.37M |
| Net Change in Cash | $-16.02M | $515.00K | $-6.46M | $5.38M | $-9.71M | $-4.69M |
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 | - | - | $1.42M | - |
| Operating Expenses | $73.62M | - | $201.64M | - |
| Research & Development | $62.93M | - | $169.74M | - |
| Operating Income | $-73.62M | - | $-200.21M | - |
| Net Income | $-67.04M | $-35.84M | $-177.44M | - |
| Basic EPS | -1.01 | - | -2.67 | - |
| Diluted EPS | -1.01 | - | -2.67 | - |
| Basic Shares Outstanding | $66.42K | - | $66.40K | - |
| Diluted Shares Outstanding | $66.42K | - | $66.40K | - |
Condensed Consolidated Balance Sheets
| Description | Sep 30, 2025 | Dec 31, 2024 |
|---|---|---|
| Cash & Cash Equivalents | $36.04M | $28.36M |
| Short-term Investments | $547.19M | $696.92M |
| Other Current Assets | $21.03M | $21.18M |
| Total Current Assets | $604.34M | $747.16M |
| Property Plant & Equipment | $4.83M | $4.35M |
| Intangible Assets | $27.19M | $27.19M |
| Other Non-current Assets | $9.36M | $9.75M |
| Total Assets | $648.44M | $792.34M |
| Accounts Payable | $4.27M | $3.27M |
| Accrued Liabilities | $39.72M | $33.84M |
| Other Current Liabilities | $930.00K | $942.00K |
| Total Current Liabilities | $46.47M | $39.50M |
| Other Non-current Liabilities | $2.54M | $3.47M |
| Total Liabilities | $50.08M | $45.34M |
| Common Stock | $66.00K | $66.00K |
| Retained Earnings | $-1.73B | $-1.56B |
| Total Stockholders Equity | $598.36M | $747.00M |
| Total Liabilities & Equity | $648.44M | $792.34M |
Condensed Consolidated Statements of Cash Flows
| Description | Sep 30, 2025 | Sep 30, 2025 | ||
|---|---|---|---|---|
| Current | Prior Year | Current YTD | Prior Year YTD | |
| Net Income | $-67.04M | $-35.84M | $-177.44M | - |
| Depreciation & Amortization | - | - | $2.56M | - |
| Stock-based Compensation | - | - | $27.31M | - |
| Operating Cash Flow | - | - | $-147.00M | - |
| Capital Expenditure | - | - | $1.43M | - |
| Purchases of Investments | - | - | $329.71M | - |
| Investing Cash Flow | - | - | $153.65M | - |
| Financing Cash Flow | - | - | $1.04M | - |
| Net Change in Cash | - | - | $7.68M | - |
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.