$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) |
|---|---|---|---|---|---|---|---|
| Total Revenue | $1.28M | $1.08M | $1.35M | $2.74M | $-123.26M | $46.33M | $50.64M |
| Revenue Growth % (YoY) | 101.0% | -97.7% | -97.3% | nan% | nan% | nan% | nan% |
| Cost of Revenue | $278.00K | $-58.00K | $85.00K | $252.00K | $-20.67M | $5.29M | $5.18M |
| Gross Profit | $999.00K | $1.13M | $1.26M | $2.49M | $-102.59M | $41.04M | $45.46M |
| Gross Margin % | 78.2% | 105.4% | 93.7% | 90.8% | 83.2% | 88.6% | 89.8% |
| Operating Expenses | $14.79M | $6.49M | $13.40M | $17.66M | $-31.60M | $63.11M | $61.56M |
| Research & Development | $7.27M | $1.21M | $5.87M | $9.18M | $1.49M | $21.71M | $34.11M |
| Selling General & Admin | $7.25M | $5.29M | $7.06M | $8.11M | $-13.32M | $17.55M | $22.28M |
| Operating Income | $-13.51M | $-5.41M | $-12.05M | $-14.92M | $-91.66M | $-16.78M | $-10.92M |
| Operating Margin % | -1058.1% | -502.9% | -894.1% | -544.7% | 74.4% | -36.2% | -21.6% |
| Interest Expense | $2.41M | $2.08M | $2.01M | $2.26M | $-6.53M | $4.99M | $4.78M |
| Other Income/Expense | $1.31M | $931.00K | $286.00K | $413.00K | $204.00K | $3.80M | $-1.28M |
| Income Before Tax | $-14.61M | $-13.15M | $-13.78M | $-16.76M | $-84.92M | $-17.97M | $-16.98M |
| Income Tax Expense | - | - | $-92.00K | $2.00K | $-52.00K | $12.00K | $-262.00K |
| Net Income | $-14.22M | $200.64M | $-7.60M | $4.64M | $17.98M | $-17.08M | $-15.54M |
| Net Margin % | -1113.5% | 18646.5% | -564.0% | 169.4% | -14.6% | -36.9% | -30.7% |
| Basic EPS | nan | 49.61 | -1.88 | 0.05 | 0.18 | -0.17 | -0.16 |
| Diluted EPS | nan | 49.61 | -1.88 | 0.05 | 0.18 | -0.17 | -0.16 |
| Basic Shares Outstanding | 1K | 4.0M | 4.0M | 101.0M | 264K | 100.5M | 99.8M |
| Diluted Shares Outstanding | 1K | 4.0M | 4.0M | 101.0M | 264K | 100.5M | 99.8M |
| 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) |
|---|---|---|---|---|---|---|---|
| Cash & Cash Equivalents | $47.87M | $117.97M | $23.37M | $33.61M | $50.48M | $131.00M | $140.71M |
| Short-term Investments | $41.11M | - | - | - | - | - | - |
| Accounts Receivable | $216.00K | $121.00K | $136.00K | $147.00K | $481.00K | $29.03M | $6.41M |
| Inventory | $3.74M | $3.86M | $3.86M | $3.15M | $3.15M | $23.94M | $25.40M |
| Other Current Assets | $1.12M | $11.46M | $2.31M | $3.33M | $1.14M | $60.56M | $36.94M |
| Total Current Assets | $99.07M | $133.42M | $162.32M | $148.53M | $196.51M | $244.53M | $209.46M |
| Property Plant & Equipment | - | - | - | - | - | $7.60M | $10.92M |
| 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 |
| Total Assets | $119.59M | $137.01M | $178.06M | $165.21M | $214.53M | $264.42M | $293.20M |
| Accounts Payable | $3.75M | $5.09M | $10.48M | $7.28M | $5.06M | $9.24M | $9.94M |
| Accrued Liabilities | $20.18M | - | - | - | $62.03M | - | - |
| Deferred Revenue | $5.31M | $5.10M | $27.31M | $22.51M | $27.29M | $28.86M | $9.55M |
| Total Current Liabilities | $29.24M | $35.97M | $155.90M | $73.39M | $133.31M | $190.53M | $148.59M |
| Other Non-current Liabilities | $82.00K | $98.00K | $106.00K | $830.00K | $822.00K | $837.00K | $1.01M |
| Total Liabilities | $115.12M | $119.53M | $359.08M | $340.14M | $398.16M | $466.12M | $483.58M |
| Common Stock | $1.01M | $1.01M | $1.01M | $1.01M | $1.01M | $1.01M | $1.00M |
| Retained Earnings | $-1.71B | $-1.69B | $-1.89B | $-1.88B | $-1.89B | $-1.91B | $-1.89B |
| Total Stockholders Equity | $-30.04M | $-17.03M | $-223.00M | $-216.90M | $-225.60M | $-243.67M | $-232.34M |
| Total Liabilities & Equity | $119.59M | $137.01M | $178.06M | $165.21M | $214.53M | $264.42M | $293.20M |
| 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) |
|---|---|---|---|---|---|---|---|
| Net Income | $-14.22M | $200.64M | $-2.96M | $4.64M | $17.98M | $-65.56M | $-48.48M |
| Stock-based Compensation | $1.19M | $5.39M | $4.72M | $2.85M | $178.00K | $25.04M | $17.35M |
| Change in Receivables | $94.00K | $2.45M | $3.00M | $3.16M | $-9.22M | $15.96M | $-5.96M |
| Change in Inventory | $-122.00K | $-5.24M | $-4.21M | $-2.86M | $-4.51M | $-17.78M | $-15.58M |
| Change in Payables | $-1.35M | $-26.31M | $-21.69M | $-24.77M | $23.22M | $-8.71M | $-7.98M |
| Operating Cash Flow | $-18.33M | $13.55M | $15.40M | $2.72M | $-30.47M | $-107.53M | $-99.16M |
| Capital Expenditure | - | $38.00K | $29.00K | $16.00K | $141.00K | $125.00K | $43.00K |
| Investing Cash Flow | $-51.71M | $87.13M | $-29.00K | $-16.00K | $1.72M | $124.27M | $123.52M |
| Stock Issued | - | - | - | - | $23.00K | $116.00K | $116.00K |
| Financing Cash Flow | $-14.00K | $-86.01M | $-97.00K | $-88.00K | $5.00K | $-260.00K | $-133.00K |
| Net Change in Cash | $-70.10M | $15.80M | $17.66M | $4.02M | $-28.82M | $17.32M | $27.03M |
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.