$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) |
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 | $2.97M | $1.54M | $7.02M | $6.88M | $2.36M | $4.65M | $7.42M | $3.57M | $9.54M | $12.74M | $6.79M |
| Revenue Growth % | 92.2% | -78.0% | 2.0% | 192.0% | -49.3% | -37.3% | 107.6% | -62.5% | -25.2% | 87.8% | 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% | nan% | nan% | nan% | nan% | nan% |
| Operating Expenses | $288.91M | $288.91M | $202.10M | $161.43M | $117.59M | $75.89M | $70.77M | $58.60M | $165.97M | $134.27M | $139.70M |
| Research & Development | $245.07M | $245.07M | $163.55M | $118.01M | $82.26M | $53.31M | $42.53M | $42.67M | $66.45M | $96.17M | $102.73M |
| Operating Income | $-287.37M | $-287.37M | $-195.08M | $-154.54M | $-115.23M | $-71.24M | $-63.35M | $-55.03M | $-156.44M | $-121.53M | $-132.92M |
| Operating Margin % | -9675.6% | -18599.8% | -2778.9% | -2245.3% | -4889.0% | -1531.8% | -854.1% | -1540.2% | -1640.1% | -953.7% | -1958.7% |
| Income Before Tax | - | $-258.76M | $-157.86M | $-141.43M | $-112.33M | $-70.74M | $-60.95M | $-50.88M | $-151.95M | $-117.31M | $-128.53M |
| Income Tax Expense | - | - | - | - | - | $-227.00K | $-1.17M | - | $-765.00K | $-24.28M | - |
| Net Income | $-258.76M | $-258.76M | $-157.86M | $-141.43M | $-112.33M | $-70.51M | $-59.78M | $-50.88M | $-151.18M | $-93.03M | $-128.53M |
| Net Margin % | -8712.4% | -16748.0% | -2248.8% | -2054.8% | -4765.6% | -1516.0% | -805.9% | -1424.0% | -1585.1% | -730.1% | -1894.0% |
| Basic EPS | -3.90 | -3.90 | -2.45 | -2.92 | -2.40 | -1.64 | -2.02 | -3.51 | nan | nan | nan |
| Diluted EPS | -3.90 | -3.90 | -2.45 | -2.92 | -2.40 | -1.64 | -2.02 | -3.51 | nan | nan | nan |
| Basic Shares Outstanding | - | 66.4M | 64.4M | 48.4M | 47K | 43K | 30K | 15K | - | - | - |
| Diluted Shares Outstanding | - | 66.4M | 64.4M | 48.4M | 47K | 43K | 30K | 15K | - | - | - |
| 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 | $28.87M | $28.36M | $34.81M | $29.43M | $39.14M | $43.84M | $11.23M | $24.31M | $40.29M | $42.46M |
| Short-term Investments | $489.70M | $696.92M | $388.78M | $275.52M | $369.11M | $150.59M | $53.15M | $69.71M | - | - |
| Other Current Assets | $14.08M | $21.18M | $5.47M | $12.39M | $2.42M | $1.62M | $1.30M | $1.90M | $3.45M | $4.01M |
| Total Current Assets | $534.66M | $747.16M | $431.69M | $317.69M | $410.84M | $197.84M | $66.70M | $99.08M | $144.76M | $195.57M |
| Property Plant & Equipment | $5.33M | $4.35M | $4.06M | $3.75M | $3.55M | $3.81M | $4.03M | $6.11M | $10.37M | $13.19M |
| Goodwill | - | - | - | - | - | - | - | - | $90.98M | $90.98M |
| Intangible Assets | $27.19M | $27.19M | $27.19M | $27.19M | $27.19M | $30.69M | $48.69M | $48.69M | $67.59M | $81.49M |
| Other Non-current Assets | $13.36M | $9.75M | $107.00K | $104.00K | $104.00K | $41.00K | $41.00K | $1.93M | $1.93M | $2.13M |
| Total Assets | $582.98M | $792.34M | $465.63M | $352.74M | $444.65M | $235.84M | $122.93M | $155.81M | $315.62M | $383.36M |
| Accounts Payable | $1.18M | $3.27M | $3.49M | $3.34M | $1.23M | $1.05M | $1.17M | $1.07M | $1.72M | $1.74M |
| Accrued Liabilities | $47.03M | $33.84M | $22.03M | $12.84M | $12.00M | $8.46M | $6.50M | $7.01M | $19.45M | $28.66M |
| Other Current Liabilities | $1.23M | $942.00K | $3.99M | $990.00K | $1.55M | $3.37M | $2.03M | $4.53M | $6.57M | $4.83M |
| Total Current Liabilities | $50.99M | $39.50M | $31.12M | $18.61M | $16.53M | $14.21M | $11.64M | $12.60M | $27.74M | $35.22M |
| Other Non-current Liabilities | $4.04M | $3.47M | $4.40M | $5.33M | $7.35M | $10.12M | $15.55M | $19.15M | $51.52M | $82.70M |
| Total Liabilities | $55.82M | $45.34M | $36.46M | $26.53M | $25.18M | $26.48M | $28.91M | $31.75M | $79.25M | $117.93M |
| Common Stock | $67.00K | $66.00K | $56.00K | $47.00K | $47.00K | $40.00K | $17.00K | $12.00K | $139.00K | $121.00K |
| Retained Earnings | $-1.81B | $-1.56B | $-1.40B | $-1.26B | $-1.14B | $-1.07B | $-1.01B | $-962.44M | $-812.52M | $-719.49M |
| Total Stockholders Equity | $527.16M | $747.00M | $429.17M | $326.20M | $419.48M | $209.36M | $94.03M | $124.06M | $236.37M | $265.43M |
| Total Liabilities & Equity | $582.98M | $792.34M | $465.63M | $352.74M | $444.65M | $235.84M | $122.93M | $155.81M | $315.62M | $383.36M |
| 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 | - | $-258.76M | $-157.86M | $-141.43M | - | - | - | - | - | - | - |
| Depreciation & Amortization | $5.99M | $3.38M | $3.18M | $3.01M | $2.90M | $3.07M | $3.93M | $4.86M | $3.58M | $4.41M | $3.10M |
| Stock-based Compensation | $64.04M | $36.22M | $34.24M | $23.89M | $15.61M | $8.95M | $3.92M | $4.55M | $8.08M | $12.31M | $15.32M |
| Operating Cash Flow | $-363.69M | $-210.94M | $-157.78M | $-107.29M | $-103.73M | $-60.91M | $-40.40M | $-46.41M | $-75.23M | $-99.93M | $-113.04M |
| Capital Expenditure | $3.97M | $2.71M | $1.92M | $1.82M | $1.83M | $1.25M | $1.55M | $731.00K | $813.00K | $1.79M | $2.75M |
| Purchases of Investments | $810.40M | $384.50M | $789.92M | $424.56M | $188.97M | $389.88M | $220.32M | $95.38M | $171.18M | $170.98M | $173.93M |
| Investing Cash Flow | $344.82M | $209.07M | $-290.13M | $-105.78M | $89.94M | $-216.16M | $-98.22M | $17.08M | $29.82M | $46.47M | $68.91M |
| Debt Repayment | - | - | - | - | - | - | $2.96M | - | - | - | - |
| Stock Issued | - | - | $432.30M | $216.22M | - | $269.89M | $170.79M | $16.25M | $29.02M | $51.02M | $13.95M |
| Financing Cash Flow | $2.85M | $2.39M | $441.45M | $218.46M | $4.08M | $272.37M | $171.23M | $16.26M | $29.44M | $51.29M | $14.48M |
| Net Change in Cash | $-16.02M | $515.00K | $-6.46M | $5.38M | $-9.71M | $-4.69M | $32.60M | $-13.08M | $-15.98M | $-2.17M | $-29.65M |
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.