$647.43M
Revenue
$-663.18M
Net Income
-
Gross Margin
-96.10%
Op. Margin
$-1.38B
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 2020 (Dec 31, 2020) |
|---|---|---|---|---|---|---|
| Total Revenue | $647.43M | $647.43M | $376.66M | $280.68M | $259.17M | $12.08M |
| Revenue Growth % | 0.0% | 71.9% | 34.2% | 8.3% | 2045.3% | nan% |
| Cost of Revenue | - | - | $262.75M | $254.33M | $193.70M | $6.25M |
| Gross Profit | - | - | $113.90M | $26.34M | $65.47M | $5.83M |
| Gross Margin % | nan% | nan% | 30.2% | 9.4% | 25.3% | 48.3% |
| Operating Expenses | $1.27B | $1.27B | $223.07M | $343.73M | $771.87M | $31.40M |
| Selling General & Admin | $298.78M | $298.78M | $266.92M | $100.35M | $67.45M | $10.25M |
| Operating Income | $-622.17M | $-622.17M | $153.59M | $-63.05M | $-512.70M | $-19.32M |
| Operating Margin % | -96.1% | -96.1% | 40.8% | -22.5% | -197.8% | -159.9% |
| Interest Expense | - | $15.45M | $45.00K | $84.00K | - | - |
| Interest Income | - | - | - | - | - | $85.00K |
| Other Income/Expense | $2.94M | $2.94M | $863.00K | $260.00K | $-8.60M | $6.65M |
| Income Before Tax | - | $-663.33M | $110.14M | $-54.56M | - | - |
| Income Tax Expense | - | $-150.00K | $744.00K | $-5.09M | $-11.75M | - |
| Net Income | $-663.18M | $-663.18M | $109.40M | $-49.47M | $-509.55M | $-12.67M |
| Net Margin % | -102.4% | -102.4% | 29.0% | -17.6% | -196.6% | -104.9% |
| Basic EPS | -1.98 | -1.95 | 0.40 | -0.28 | -3.65 | -0.34 |
| Diluted EPS | -2.09 | -1.95 | 0.34 | -0.28 | -3.66 | -0.33 |
| Basic Shares Outstanding | - | 340.7M | 276.0M | 175.0M | 139.4M | 42.0M |
| Diluted Shares Outstanding | - | 340.7M | 318.9M | 175.0M | 139.4M | 42.0M |
| Breakdown | FY 2025 (Dec 31, 2025) |
FY 2024 (Dec 31, 2024) |
FY 2023 (Dec 31, 2023) |
FY 2022 (Dec 31, 2022) |
FY 2020 (Dec 31, 2020) |
|---|---|---|---|---|---|
| Cash & Cash Equivalents | $233.52M | $277.86M | $597.17M | $230.33M | $223.38M |
| Accounts Receivable | $29.79M | $27.12M | $24.71M | $26.93M | - |
| Other Current Assets | $59.45M | $40.29M | $29.11M | $32.66M | $1.26M |
| Total Current Assets | $448.71M | $599.48M | $1.01B | $443.38M | $236.26M |
| Property Plant & Equipment | $1.53B | $1.34B | $704.19M | $692.55M | $10.14M |
| Goodwill | $122.50M | $121.89M | - | - | - |
| Intangible Assets | $30.19M | $34.05M | $15.70M | $21.48M | $336.00K |
| Long-term Investments | - | - | - | - | $310.00K |
| Total Assets | $3.94B | $3.94B | $2.05B | $1.32B | $280.15M |
| Accounts Payable | $23.42M | $17.61M | $23.16M | $18.45M | $718.00K |
| Accrued Liabilities | $142.85M | $75.67M | $62.63M | $65.46M | $1.58M |
| Deferred Revenue | $37.12M | $9.64M | $4.07M | $2.88M | $97.00K |
| Total Current Liabilities | $469.77M | $160.38M | $121.02M | $121.54M | $2.40M |
| Long-term Debt | $840.80M | $584.62M | $526.00K | - | - |
| Deferred Tax Liabilities | $55.81M | $214.62M | - | - | - |
| Other Non-current Liabilities | $19.00K | $6.19M | $6.68M | $8.23M | - |
| Total Liabilities | $1.08B | $791.62M | $163.06M | $168.52M | $3.08M |
| Common Stock | $4.21B | $3.83B | $2.69B | $1.91B | $506.96M |
| Retained Earnings | $-1.35B | $-690.42M | $-799.82M | $-756.34M | $-229.91M |
| Total Stockholders Equity | $2.86B | $3.14B | $1.89B | $1.15B | $277.07M |
| Total Liabilities & Equity | $3.94B | $3.94B | $2.05B | $1.32B | $280.15M |
| 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 2020 (Dec 31, 2020) |
|---|---|---|---|---|---|---|
| Net Income | $-663.18M | $-663.18M | $109.40M | $-49.47M | $-509.55M | $-12.67M |
| Depreciation & Amortization | $342.80M | $342.80M | $206.20M | $246.50M | $107.95M | $4.49M |
| Stock-based Compensation | $214.98M | $125.71M | $125.20M | $32.17M | $24.55M | $3.41M |
| Deferred Income Tax | - | - | - | $-5.04M | $-12.54M | - |
| Change in Receivables | - | - | - | - | $11.53M | - |
| Change in Payables | - | - | - | - | $-1.59M | $1.00K |
| Operating Cash Flow | $-1.05B | $-572.93M | $-255.05M | $33.09M | $530.00K | $-11.15M |
| Capital Expenditure | $327.48M | $201.38M | $240.34M | $193.70M | $148.41M | $8.14M |
| Investing Cash Flow | $-23.12M | $76.13M | $-1.51B | $-414.77M | $-354.86M | $-32.83M |
| Stock Issued | $406.67M | $212.74M | $977.03M | $778.43M | $304.85M | $264.73M |
| Stock Repurchased | $5.36M | $4.29M | $11.56M | $14.04M | $10.14M | $446.00K |
| Financing Cash Flow | $895.50M | $455.29M | $1.52B | $748.52M | $272.35M | $259.92M |
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 | $180.23M | $84.79M | $494.60M | $234.10M |
| Operating Expenses | $100.18M | $206.30M | $432.28M | $268.71M |
| Selling General & Admin | $69.83M | $66.94M | $217.18M | $185.78M |
| Operating Income | $80.05M | $-121.51M | $62.32M | $-34.61M |
| Interest Expense | - | - | $9.88M | $35.00K |
| Other Income/Expense | $26.11M | $-32.82M | $-32.31M | $7.64M |
| Net Income | $104.48M | $-154.36M | $27.57M | $-27.03M |
| Basic EPS | 0.30 | -0.54 | 0.08 | -0.10 |
| Diluted EPS | 0.26 | -0.54 | 0.08 | -0.10 |
| Basic Shares Outstanding | $347.09M | $286.24M | $337.69M | $261.98M |
| Diluted Shares Outstanding | $403.18M | $286.24M | $389.07M | $261.98M |
Condensed Consolidated Balance Sheets
| Description | Sep 30, 2025 | Dec 31, 2024 |
|---|---|---|
| Cash & Cash Equivalents | $330.75M | $277.86M |
| Accounts Receivable | $26.54M | $27.12M |
| Other Current Assets | $47.08M | $40.29M |
| Total Current Assets | $528.59M | $599.48M |
| Property Plant & Equipment | $1.36B | $1.34B |
| Goodwill | $122.50M | $121.89M |
| Intangible Assets | $31.13M | $34.05M |
| Total Assets | $4.48B | $3.94B |
| Accounts Payable | $12.70M | $17.61M |
| Accrued Liabilities | $60.09M | $75.67M |
| Deferred Revenue | $18.21M | $9.64M |
| Total Current Liabilities | $358.55M | $160.38M |
| Long-term Debt | $586.50M | $584.31M |
| Other Non-current Liabilities | $25.00K | $6.19M |
| Total Liabilities | $974.07M | $791.62M |
| Common Stock | $4.17B | $3.83B |
| Retained Earnings | $-662.85M | $-690.42M |
| Total Stockholders Equity | $3.50B | $3.14B |
| Total Liabilities & Equity | $4.48B | $3.94B |
Condensed Consolidated Statements of Cash Flows
| Description | Sep 30, 2025 | Sep 30, 2025 | ||
|---|---|---|---|---|
| Current | Prior Year | Current YTD | Prior Year YTD | |
| Net Income | $104.48M | $-154.36M | $27.57M | $-27.03M |
| Depreciation & Amortization | $82.93M | $60.00M | $244.05M | $129.67M |
| Stock-based Compensation | - | - | $92.55M | $94.70M |
| Operating Cash Flow | - | - | $-467.40M | $-156.70M |
| Capital Expenditure | - | - | $118.92M | $182.13M |
| Acquisitions | - | - | - | $7.20M |
| Investing Cash Flow | - | - | $78.64M | $-726.19M |
| Stock Issued | - | - | $199.64M | $746.43M |
| Stock Repurchased | - | - | $3.24M | $11.48M |
| Financing Cash Flow | - | - | $443.82M | $714.10M |
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.