$123.11M
Revenue
$-22.43M
Net Income
-
Gross Margin
-45.27%
Op. Margin
$24.84M
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) |
FY 2015 (Dec 31, 2015) |
FY 2014 (Dec 31, 2014) |
FY 2013 (Dec 31, 2013) |
FY 2012 (Dec 31, 2012) |
FY 2011 (Dec 31, 2011) |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Revenue | $123.11M | $123.10M | $18.15M | $2.04M | - | - | - | $9.00K | $28.00K | $1.24M | $877.00K | $33.00K | $10.00K | $27.00K | $19.92K | $820.92K |
| Revenue Growth % | 0.0% | 578.4% | 789.9% | nan% | nan% | nan% | nan% | -67.9% | -97.7% | 40.9% | 2557.6% | 230.0% | -63.0% | 35.5% | -97.6% | nan% |
| Cost of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | $3.00K | - | - |
| Gross Profit | - | - | - | - | - | - | - | - | - | - | - | - | - | $24.00K | - | - |
| Gross Margin % | nan% | nan% | nan% | nan% | nan% | nan% | nan% | nan% | nan% | nan% | nan% | nan% | nan% | 88.9% | nan% | nan% |
| Operating Expenses | $178.83M | $178.83M | $29.67M | $23.84M | $14.35M | $9.44M | $6.55M | $5.69M | $6.90M | $5.06M | $9.43M | $52.04M | $30.62M | $15.37M | $3.49M | $5.17M |
| Research & Development | - | - | - | $3.00K | $830.00K | $559.00K | $1.02M | $2.52M | - | - | - | - | - | $10.00K | $727.09K | $1.65M |
| Selling General & Admin | - | - | - | - | $11.68M | $7.73M | $4.06M | $3.17M | $3.32M | $496.00K | $253.00K | $534.00K | $1.70M | $1.01M | $2.76M | $3.13M |
| Operating Income | $-55.73M | $-55.73M | $-11.53M | $-21.80M | $-14.35M | $-9.44M | $-6.55M | $-5.68M | $-6.87M | $-3.82M | $-8.55M | $-52.01M | $-30.61M | $-15.35M | $-3.47M | $-4.35M |
| Operating Margin % | -45.3% | -45.3% | -63.5% | -1069.0% | nan% | nan% | nan% | -63166.7% | -24550.0% | -309.2% | -975.0% | -157606.1% | -306110.0% | -56840.7% | -17428.0% | -529.5% |
| Interest Expense | - | - | $9.00K | $686.00K | - | - | - | - | - | - | - | - | - | - | - | - |
| Interest Income | $65.00K | $65.00K | $960.00K | $716.00K | $687.00K | $252.00K | - | - | - | - | - | - | - | - | $3.47K | $3.46K |
| Other Income/Expense | $42.57M | $42.57M | $-3.18M | $-1.09M | $-7.76M | $2.27M | $-5.79M | $1.50M | $8.60M | $516.00K | $2.08M | $545.00K | $79.00K | $-2.62M | $584.00K | - |
| Income Before Tax | - | $-13.15M | $-14.70M | - | - | - | - | - | - | - | - | - | - | - | $-2.89M | $-3.45M |
| Income Tax Expense | - | $7.32M | - | - | - | - | - | - | - | - | - | - | - | - | - | $14.48K |
| Net Income | $-22.43M | $-22.43M | $-14.70M | $-22.88M | $-22.11M | $-7.17M | $-12.34M | $-4.18M | $1.73M | $-3.31M | $-6.48M | $-51.47M | $-30.53M | $-17.96M | $-3.86M | $19.59K |
| Net Margin % | -18.2% | -18.2% | -81.0% | -1122.2% | nan% | nan% | nan% | -46477.8% | 6167.9% | -267.5% | -738.4% | -155954.5% | -305320.0% | -66537.0% | -19360.6% | 2.4% |
| Basic EPS | nan | -1.57 | -2.38 | -4.38 | -4.91 | -1.48 | nan | -1.67 | 0.91 | -0.60 | 6.76 | -24.98 | nan | nan | -14.10 | -1.32 |
| Diluted EPS | nan | -1.57 | -2.38 | -3.95 | -4.91 | -1.48 | nan | -1.67 | 0.91 | -0.60 | 6.51 | -24.98 | nan | nan | -14.10 | -1.32 |
| Basic Shares Outstanding | - | 14.3M | 6.2M | 5.2M | 5.3M | 4.8M | - | 2.5M | 1.9M | 5.5M | 3.7M | 1.7M | - | - | 274K | 2.6M |
| Diluted Shares Outstanding | - | 14.3M | 6.2M | 5.2M | 5.3M | 4.8M | - | 2.5M | 1.9M | 5.5M | 3.8M | 1.7M | - | - | 274K | 2.6M |
| 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) |
FY 2015 (Dec 31, 2015) |
FY 2014 (Dec 31, 2014) |
FY 2013 (Dec 31, 2013) |
FY 2012 (Dec 31, 2012) |
FY 2011 (Dec 31, 2011) |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Cash Equivalents | $34.01M | $4.08M | $2.83M | $33.17M | $65.56M | $2.71M | $91.00K | $17.00K | $197.00K | $134.00K | $142.00K | $805.00K | $3.12M | $4.50M | $4.91M |
| Short-term Investments | $46.52M | $5.77M | $13.55M | $7.13M | $2.27M | - | $857.00K | $2.70M | $4.00M | $6.03M | - | - | - | - | - |
| Accounts Receivable | - | - | - | - | - | - | - | - | - | - | - | - | - | - | $232.51K |
| Other Current Assets | - | $1.02M | $898.00K | $564.00K | $442.00K | $215.00K | - | $188.00K | $150.00K | $135.00K | $330.00K | $107.00K | $151.00K | $100.47K | $120.43K |
| Total Current Assets | - | $28.15M | $28.14M | $50.66M | $90.89M | $27.73M | $1.13M | $2.90M | $4.34M | $6.29M | $3.86M | $4.41M | $3.28M | $4.71M | $5.53M |
| Property Plant & Equipment | $135.00K | $239.00K | $344.00K | - | - | - | - | $1.00K | $3.00K | $6.00K | $5.00K | $4.00K | - | $24.01K | $91.48K |
| Goodwill | - | - | - | - | - | - | - | - | - | - | - | $1.71M | $1.71M | - | - |
| Intangible Assets | - | - | - | - | - | - | - | - | $3.58M | $4.95M | $9.80M | $55.00M | $64.83M | - | - |
| Long-term Investments | $11.74M | $12.28M | $24.15M | $23.10M | $9.46M | - | - | - | - | - | - | - | - | - | - |
| Total Assets | $112.91M | $47.12M | $57.56M | $76.24M | $102.66M | $30.50M | $11.28M | $13.25M | $8.97M | $11.28M | $13.69M | $61.16M | $69.85M | $4.76M | $5.66M |
| Deferred Revenue | - | $240.00K | - | - | - | - | - | - | $957.00K | - | - | - | - | - | $72.87K |
| Other Current Liabilities | - | $157.00K | $22.00K | - | - | - | - | - | - | - | - | - | - | - | - |
| Total Current Liabilities | - | $3.78M | $1.61M | $1.79M | $1.06M | $877.00K | $750.00K | $1.15M | $2.58M | $2.67M | $4.46M | $1.23M | $1.50M | $731.08K | $892.68K |
| Total Liabilities | $43.54M | $7.27M | $4.63M | $2.47M | $1.06M | $877.00K | $750.00K | $1.15M | $4.87M | $5.96M | $4.94M | $1.64M | $1.55M | $3.90M | $940.36K |
| Common Stock | $5.60M | - | - | - | $9.00K | $3.00K | - | - | - | - | - | $3.00K | - | $82.00 | $31.03K |
| Retained Earnings | $-268.13M | $-223.47M | $-208.76M | $-185.88M | $-163.77M | $-156.60M | $-144.27M | $-140.08M | $3.20M | $-141.75M | $-135.27M | $-83.81M | $-53.28M | $-35.31M | $-37.15M |
| Treasury Stock | - | $501.00K | $501.00K | $3.32M | $264.00K | $264.00K | $264.00K | $264.00K | $264.00K | $264.00K | $264.00K | $264.00K | $465.00K | $464.79K | $464.79K |
| Total Stockholders Equity | $69.37M | $39.85M | $52.92M | $73.77M | $101.59M | $29.62M | $10.53M | $12.10M | $4.11M | $5.32M | $8.75M | $53.59M | $48.30M | $854.48K | $4.71M |
| Total Liabilities & Equity | $112.91M | $47.12M | $57.56M | $76.24M | $102.66M | $30.50M | $11.28M | $13.25M | $8.97M | $11.28M | $13.69M | $61.16M | $69.85M | $4.76M | $5.66M |
| 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) |
FY 2015 (Dec 31, 2015) |
FY 2014 (Dec 31, 2014) |
FY 2013 (Dec 31, 2013) |
FY 2012 (Dec 31, 2012) |
FY 2011 (Dec 31, 2011) |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Income | $-22.43M | $-22.43M | $-14.70M | $-22.88M | $-22.11M | $-7.17M | $-12.34M | $-4.18M | $1.73M | $-3.31M | $-6.48M | $-51.47M | $-30.53M | $-17.96M | $-3.86M | $19.59K |
| Depreciation & Amortization | - | - | - | - | - | - | - | - | - | - | - | - | - | - | $63.67K | $69.83K |
| Stock-based Compensation | $117.40M | $33.98M | $1.63M | $2.98M | $1.47M | $314.00K | $84.00K | $329.00K | $320.00K | $23.00K | $562.00K | $371.00K | $12.68M | $9.97M | $56.45K | $35.53K |
| Change in Receivables | - | - | - | - | - | - | - | - | - | - | - | - | - | $2.00K | $5.04K | $-349.09K |
| Operating Cash Flow | $24.84M | $22.72M | $-15.12M | $-22.23M | $-10.60M | $-6.60M | $-4.02M | $-3.02M | $-2.73M | $-3.27M | $70.00K | - | - | - | - | - |
| Capital Expenditure | - | - | - | $427.00K | - | - | - | - | $36.00K | - | $4.00K | $2.00K | $4.00K | - | $2.31K | $2.37K |
| Purchases of Investments | $40.16M | $18.03M | $7.83M | $34.12M | $15.02M | $5.67M | - | $200.00K | $922.00K | $675.00K | $18.04M | $7.99M | - | - | - | - |
| Investing Cash Flow | $-7.82M | $1.89M | $16.36M | $-7.17M | $-14.60M | $-8.85M | $-24.96M | $1.26M | $-151.00K | $1.26M | $-2.97M | $125.00K | $-1.00M | $662.00K | $1.79K | $-4.85K |
| Stock Issued | $40.59M | $13.55M | - | - | - | - | $17.84M | $787.00K | $2.70M | $2.10M | $2.14M | - | - | - | $3.72M | $3.70M |
| Stock Repurchased | - | - | - | - | $3.06M | - | - | - | - | - | - | - | - | - | - | - |
| Dividends Paid | $26.06M | $11.90M | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Financing Cash Flow | $20.53M | $5.32M | - | $-939.00K | $-7.19M | $78.30M | $31.61M | $1.83M | $2.70M | $2.07M | $2.90M | $3.83M | $8.20M | $3.23M | $3.40M | $3.70M |
| Net Change in Cash | - | - | - | $-30.34M | $-32.39M | $62.85M | - | $74.00K | $-180.00K | $63.00K | $-8.00K | $-663.00K | $-2.32M | $-1.37M | $-413.11K | $-663.96K |
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 | $50.82M | $4.04M | $93.03M | $11.58M |
| Operating Expenses | $52.42M | $7.24M | $146.06M | $20.32M |
| Operating Income | $-1.60M | $-3.20M | $-53.03M | $-8.74M |
| Interest Income | $550.00K | $280.00K | $973.00K | $729.00K |
| Other Income/Expense | $127.68M | $-1.01M | $164.29M | $-7.04M |
| Net Income | $125.21M | $-4.21M | $109.33M | $-15.77M |
| Basic EPS | 8.11 | -0.67 | 7.98 | -2.57 |
| Diluted EPS | 7.27 | nan | 7.86 | nan |
| Basic Shares Outstanding | $15.44M | $6.33M | $13.70M | $6.13M |
| Diluted Shares Outstanding | $17.22M | - | $13.90M | - |
Condensed Consolidated Balance Sheets
| Description | Sep 30, 2025 | Dec 31, 2024 |
|---|---|---|
| Cash & Cash Equivalents | $5.37M | $4.08M |
| Short-term Investments | $170.84M | $5.77M |
| Other Current Assets | $1.26M | $1.02M |
| Total Current Assets | $206.33M | $28.15M |
| Property Plant & Equipment | $161.00K | $239.00K |
| Long-term Investments | $11.74M | $12.28M |
| Total Assets | $223.45M | $47.12M |
| Deferred Revenue | $795.00K | $240.00K |
| Other Current Liabilities | $599.00K | $157.00K |
| Total Current Liabilities | $7.49M | $3.78M |
| Total Liabilities | $13.15M | $7.27M |
| Common Stock | - | - |
| Retained Earnings | $-126.12M | $-223.47M |
| Treasury Stock | - | $501.00K |
| Total Stockholders Equity | $210.16M | $39.85M |
| Total Liabilities & Equity | $223.45M | $47.12M |
Condensed Consolidated Statements of Cash Flows
| Description | Sep 30, 2025 | Sep 30, 2025 | ||
|---|---|---|---|---|
| Current | Prior Year | Current YTD | Prior Year YTD | |
| Net Income | $125.21M | $-4.21M | $109.33M | $-15.77M |
| Stock-based Compensation | - | - | $54.81M | $1.12M |
| Operating Cash Flow | - | - | $-4.03M | $-11.90M |
| Purchases of Investments | - | - | $16.96M | $4.01M |
| Investing Cash Flow | - | - | $945.00K | $12.47M |
| Stock Issued | - | - | $13.52M | - |
| Dividends Paid | - | - | $11.99M | - |
| Financing Cash Flow | - | - | $4.38M | - |
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.