$6.44M
Revenue
$183.45M
Net Income
91.35%
Gross Margin
-712.66%
Op. Margin
$13.26M
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 | $1.28M | $1.08M | $1.35M | $2.74M | $-123.26M | $46.33M | $50.64M | $55.90M | $27.14M | $40.13M | $44.32M | $36.16M | $34.37M | $15.73M |
| Revenue Growth % (YoY) | 101.0% | -97.7% | -97.3% | -95.1% | -554.2% | 15.4% | 14.3% | 54.6% | -21.0% | 155.1% | nan% | nan% | nan% | nan% |
| Cost of Revenue | $278.00K | $-58.00K | $85.00K | $252.00K | $-20.67M | $5.29M | $5.18M | $25.75M | $5.41M | $4.24M | $5.71M | $3.49M | $4.92M | $4.31M |
| Gross Profit | $999.00K | $1.13M | $1.26M | $2.49M | $-102.59M | $41.04M | $45.46M | $30.15M | $21.73M | $35.89M | $38.61M | $32.67M | $29.44M | $11.43M |
| Gross Margin % | 78.2% | 105.4% | 93.7% | 90.8% | 83.2% | 88.6% | 89.8% | 53.9% | 80.1% | 89.4% | 87.1% | 90.3% | 85.7% | 72.6% |
| Operating Expenses | $14.79M | $6.49M | $13.40M | $17.66M | $-31.60M | $63.11M | $61.56M | $86.97M | $81.33M | $103.62M | $132.37M | $112.25M | $100.52M | $109.39M |
| Research & Development | $7.27M | $1.21M | $5.87M | $9.18M | $1.49M | $21.71M | $34.11M | $38.39M | $51.70M | $61.19M | $95.48M | $74.49M | $61.63M | $75.18M |
| Selling General & Admin | $7.25M | $5.29M | $7.06M | $8.11M | $-13.32M | $17.55M | $22.28M | $22.82M | $24.22M | $25.57M | $31.18M | $34.27M | $33.97M | $29.90M |
| Operating Income | $-13.51M | $-5.41M | $-12.05M | $-14.92M | $-91.66M | $-16.78M | $-10.92M | $-31.06M | $-54.20M | $-63.48M | $-88.05M | $-76.09M | $-66.15M | $-93.66M |
| Operating Margin % | -1058.1% | -502.9% | -894.1% | -544.7% | 74.4% | -36.2% | -21.6% | -55.6% | -199.7% | -158.2% | -198.7% | -210.4% | -192.5% | -595.2% |
| Interest Expense | $2.41M | $2.08M | $2.01M | $2.26M | $-6.53M | $4.99M | $4.78M | $5.00M | $5.07M | $5.02M | $3.07M | $2.37M | $1.12M | $84.00K |
| Other Income/Expense | $1.31M | $931.00K | $286.00K | $413.00K | $204.00K | $3.80M | $-1.28M | $2.57M | $2.50M | $4.30M | $2.65M | $1.04M | $924.00K | $1.80M |
| Income Before Tax | $-14.61M | $-13.15M | $-13.78M | $-16.76M | $-84.92M | $-17.97M | $-16.98M | $-33.49M | $-56.77M | $-64.21M | $-88.47M | $-77.43M | $-66.35M | $-91.94M |
| Income Tax Expense | - | - | $-92.00K | $2.00K | $-52.00K | $12.00K | $-262.00K | $33.00K | $80.00K | $84.00K | $-235.00K | $74.00K | $108.00K | $114.00K |
| Net Income | $-14.22M | $200.64M | $-7.60M | $4.64M | $17.98M | $-17.08M | $-15.54M | $-32.93M | $-56.23M | $-63.62M | $-87.68M | $-76.70M | $-66.17M | $-91.65M |
| Net Margin % | -1113.5% | 18646.5% | -564.0% | 169.4% | -14.6% | -36.9% | -30.7% | -58.9% | -207.2% | -158.5% | -197.8% | -212.1% | -192.6% | -582.5% |
| Basic EPS | nan | 49.61 | -1.88 | 0.05 | 0.18 | -0.17 | -0.16 | -0.33 | -0.57 | -0.65 | -0.90 | -0.81 | -0.71 | -0.98 |
| Diluted EPS | nan | 49.61 | -1.88 | 0.05 | 0.18 | -0.17 | -0.16 | -0.33 | -0.57 | -0.65 | -0.90 | -0.81 | -0.71 | -0.98 |
| Basic Shares Outstanding | 1K | 4.0M | 4.0M | 101.0M | 264K | 100.5M | 99.8M | 99.0M | 402K | 98.2M | 97.7M | 94.7M | 151K | 93.8M |
| Diluted Shares Outstanding | 1K | 4.0M | 4.0M | 101.0M | 264K | 100.5M | 99.8M | 99.0M | 402K | 98.2M | 97.7M | 94.7M | 151K | 93.8M |
| 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) |
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 | $47.87M | $117.97M | $23.37M | $33.61M | $50.48M | $131.00M | $140.71M | $105.73M | $113.69M | $120.91M | $152.59M | $188.55M | $155.70M | $155.96M |
| Short-term Investments | $41.11M | - | - | - | - | - | - | $71.86M | $121.90M | $130.43M | $183.13M | $167.40M | $266.31M | $252.56M |
| Accounts Receivable | $216.00K | $121.00K | $136.00K | $147.00K | $481.00K | $29.03M | $6.41M | $37.08M | $12.55M | $31.69M | $25.60M | $17.65M | $16.30M | $15.33M |
| Inventory | $3.74M | $3.86M | $3.86M | $3.15M | $3.15M | $23.94M | $25.40M | $27.34M | $41.56M | $40.70M | $41.18M | $42.46M | $40.44M | $39.95M |
| Other Current Assets | $1.12M | $11.46M | $2.31M | $3.33M | $1.14M | $60.56M | $36.94M | $36.15M | $41.85M | $40.38M | $8.86M | $14.49M | $14.08M | $10.43M |
| Total Current Assets | $99.07M | $133.42M | $162.32M | $148.53M | $196.51M | $244.53M | $209.46M | $278.17M | $331.56M | $364.11M | $411.36M | $430.55M | $492.83M | $474.22M |
| Property Plant & Equipment | - | - | - | - | - | $7.60M | $10.92M | $12.17M | $13.13M | $14.51M | $16.83M | $18.69M | $20.61M | $22.29M |
| Long-term Investments | $20.16M | $3.04M | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Non-current Assets | $361.00K | $556.00K | $839.00K | $1.12M | $1.41M | $2.73M | $3.04M | $3.35M | $3.80M | $3.95M | $4.35M | $4.67M | $5.28M | $4.94M |
| Total Assets | $119.59M | $137.01M | $178.06M | $165.21M | $214.53M | $264.42M | $293.20M | $365.87M | $423.53M | $460.43M | $515.13M | $538.54M | $610.09M | $608.84M |
| Accounts Payable | $3.75M | $5.09M | $10.48M | $7.28M | $5.06M | $9.24M | $9.94M | $4.35M | $17.96M | $19.22M | $12.80M | $71.28M | $30.76M | $19.32M |
| Accrued Liabilities | $20.18M | - | - | - | $62.03M | - | - | - | - | - | - | - | - | - |
| Deferred Revenue | $5.31M | $5.10M | $27.31M | $22.51M | $27.29M | $28.86M | $9.55M | $12.86M | $12.74M | $7.33M | $7.49M | $16.50M | $12.74M | $7.36M |
| Total Current Liabilities | $29.24M | $35.97M | $155.90M | $73.39M | $133.31M | $190.53M | $148.59M | $196.73M | $217.67M | $209.41M | $194.07M | $254.75M | $273.56M | $251.99M |
| Other Non-current Liabilities | $82.00K | $98.00K | $106.00K | $830.00K | $822.00K | $837.00K | $1.01M | $3.79M | $2.86M | $4.25M | $4.96M | $7.06M | $6.44M | $14.30M |
| Total Liabilities | $115.12M | $119.53M | $359.08M | $340.14M | $398.16M | $466.12M | $483.58M | $552.02M | $585.73M | $575.63M | $575.43M | $567.43M | $611.57M | $562.56M |
| Common Stock | $1.01M | $1.01M | $1.01M | $1.01M | $1.01M | $1.01M | $1.00M | $995.00K | $988.00K | $983.00K | $982.00K | $966.00K | $942.00K | $939.00K |
| Retained Earnings | $-1.71B | $-1.69B | $-1.89B | $-1.88B | $-1.89B | $-1.91B | $-1.89B | $-1.87B | $-1.84B | $-1.79B | $-1.72B | $-1.63B | $-1.56B | $-1.49B |
| Total Stockholders Equity | $-30.04M | $-17.03M | $-223.00M | $-216.90M | $-225.60M | $-243.67M | $-232.34M | $-228.12M | $-204.17M | $-157.17M | $-102.27M | $-48.85M | $-21.45M | $26.31M |
| Total Liabilities & Equity | $119.59M | $137.01M | $178.06M | $165.21M | $214.53M | $264.42M | $293.20M | $365.87M | $423.53M | $460.43M | $515.13M | $538.54M | $610.09M | $608.84M |
| 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 | $-14.22M | $200.64M | $-2.96M | $4.64M | $17.98M | $-65.56M | $-48.48M | $-32.93M | $-56.23M | $-228.00M | $-164.38M | $-76.70M | $-66.17M | $-91.65M |
| Stock-based Compensation | $1.19M | $5.39M | $4.72M | $2.85M | $178.00K | $25.04M | $17.35M | $8.76M | $9.30M | $41.47M | $32.00M | $16.11M | $16.22M | $49.38M |
| Change in Receivables | $94.00K | $2.45M | $3.00M | $3.16M | $-9.22M | $15.96M | $-5.96M | $24.68M | $-19.72M | $16.28M | $10.01M | $1.30M | $218.00K | $-983.00K |
| Change in Inventory | $-122.00K | $-5.24M | $-4.21M | $-2.86M | $-4.51M | $-17.78M | $-15.58M | $-13.79M | $176.00K | $1.52M | $1.95M | $1.94M | $-148.00K | $11.15M |
| Change in Payables | $-1.35M | $-26.31M | $-21.69M | $-24.77M | $23.22M | $-8.71M | $-7.98M | $-13.59M | $-1.46M | $-14.06M | $-20.78M | $40.47M | $11.03M | $-5.12M |
| Operating Cash Flow | $-18.33M | $13.55M | $15.40M | $2.72M | $-30.47M | $-107.53M | $-99.16M | $-59.29M | $-18.32M | $-296.70M | $-212.16M | $-101.59M | $-52.51M | $-93.42M |
| Capital Expenditure | - | $38.00K | $29.00K | $16.00K | $141.00K | $125.00K | $43.00K | $29.00K | $251.00K | $2.27M | $1.58M | $591.00K | $333.00K | $3.41M |
| Investing Cash Flow | $-51.71M | $87.13M | $-29.00K | $-16.00K | $1.72M | $124.27M | $123.52M | $51.28M | $10.24M | $143.41M | $89.20M | $103.48M | $1.09M | $88.02M |
| Stock Issued | - | - | - | - | $23.00K | $116.00K | $116.00K | - | $45.00K | $3.69M | $3.69M | $907.00K | $1.20M | $2.99M |
| Financing Cash Flow | $-14.00K | $-86.01M | $-97.00K | $-88.00K | $5.00K | $-260.00K | $-133.00K | $-165.00K | $-246.00K | $123.00M | $123.02M | $31.48M | $48.67M | $-1.90M |
| Net Change in Cash | $-70.10M | $15.80M | $17.66M | $4.02M | $-28.82M | $17.32M | $27.03M | $-7.95M | $-7.23M | $-34.79M | $-3.12M | $32.85M | $-260.00K | $-15.26M |
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 | $1.08M | $123.00K | $5.16M | $26.49M |
| Cost of Revenue | $-58.00K | $-75.00K | $278.00K | $21.41M |
| Operating Expenses | $6.49M | $47.81M | $37.55M | $169.77M |
| Research & Development | $1.21M | $19.97M | $16.25M | $88.82M |
| Selling General & Admin | $5.29M | $9.36M | $20.46M | $40.98M |
| Operating Income | $-5.41M | $-47.69M | $-32.38M | $-143.28M |
| Interest Expense | $2.08M | $2.07M | $6.35M | $6.03M |
| Other Income/Expense | $931.00K | $1.47M | $1.63M | $4.61M |
| Income Before Tax | $-13.15M | $-48.29M | $-43.68M | $-144.70M |
| Income Tax Expense | - | $3.00K | $-90.00K | $-271.00K |
| Net Income | $200.64M | $-17.08M | $197.67M | $-65.56M |
| Basic EPS | 49.61 | -4.25 | 48.90 | -16.43 |
| Diluted EPS | 49.61 | -4.25 | 48.90 | -16.43 |
| Basic Shares Outstanding | $4.04M | $4.02M | $4.04M | $3.99M |
| Diluted Shares Outstanding | $4.04M | $4.02M | $4.04M | $3.99M |
Condensed Consolidated Balance Sheets
| Description | Sep 30, 2025 | Dec 31, 2024 |
|---|---|---|
| Cash & Cash Equivalents | $117.97M | $50.48M |
| Accounts Receivable | $121.00K | $481.00K |
| Inventory | $3.86M | $3.15M |
| Other Current Assets | $11.46M | $31.54M |
| Total Current Assets | $133.42M | $196.51M |
| Long-term Investments | $3.04M | - |
| Other Non-current Assets | $556.00K | $1.41M |
| Total Assets | $137.01M | $214.53M |
| Accounts Payable | $5.09M | $5.06M |
| Deferred Revenue | $5.10M | $27.29M |
| Total Current Liabilities | $35.97M | $133.31M |
| Other Non-current Liabilities | $98.00K | $822.00K |
| Total Liabilities | $119.53M | $398.16M |
| Common Stock | $1.01M | $1.01M |
| Retained Earnings | $-1.69B | $-1.89B |
| Total Stockholders Equity | $-17.03M | $-225.60M |
| Total Liabilities & Equity | $137.01M | $214.53M |
Condensed Consolidated Statements of Cash Flows
| Description | Sep 30, 2025 | Sep 30, 2025 | ||
|---|---|---|---|---|
| Current | Prior Year | Current YTD | Prior Year YTD | |
| Net Income | $200.64M | $-17.08M | $197.67M | $-65.56M |
| Stock-based Compensation | - | - | $5.39M | $25.04M |
| Change in Receivables | - | - | $2.45M | $15.96M |
| Change in Inventory | - | - | $-5.24M | $-17.78M |
| Change in Payables | - | - | $-26.31M | $-8.71M |
| Operating Cash Flow | - | - | $13.55M | $-107.53M |
| Capital Expenditure | - | - | $38.00K | $125.00K |
| Investing Cash Flow | - | - | $87.13M | $124.27M |
| Stock Issued | - | - | - | $116.00K |
| Financing Cash Flow | - | - | $-86.01M | $-260.00K |
| Net Change in Cash | - | - | $15.80M | $17.32M |
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.