$3.88M
Revenue
$-16.31M
Net Income
29.77%
Gross Margin
-450.21%
Op. Margin
$-12.57M
Free Cash Flow
| Breakdown | TTM (Sep 30, 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) |
|---|---|---|---|---|---|---|
| Total Revenue | $3.88M | $3.96M | $3.03M | $665.00K | $387.00K | $491.00K |
| Revenue Growth % | -2.1% | 30.7% | 356.1% | 71.8% | -21.2% | nan% |
| Cost of Revenue | $2.73M | $2.81M | $2.52M | $1.63M | $1.11M | $994.00K |
| Gross Profit | $1.16M | $1.16M | $509.00K | $-966.00K | $-721.00K | $-503.00K |
| Gross Margin % | 29.8% | 29.2% | 16.8% | -145.3% | -186.3% | -102.4% |
| Research & Development | $9.50M | $6.88M | $5.60M | $4.20M | $2.00M | $725.00K |
| Operating Income | $-17.47M | $-12.51M | $-10.63M | $-9.44M | $-9.11M | $-4.71M |
| Operating Margin % | -450.2% | -315.5% | -350.6% | -1419.4% | -2354.5% | -958.5% |
| Income Before Tax | - | $-11.77M | $-9.45M | $-9.47M | $-8.99M | $-4.67M |
| Income Tax Expense | - | - | - | - | - | $2.00K |
| Net Income | $-16.31M | $-11.77M | $-9.45M | $-9.47M | $-8.99M | $-4.67M |
| Net Margin % | -420.4% | -296.8% | -311.4% | -1423.8% | -2322.2% | -950.5% |
| Basic EPS | -1.10 | -1.03 | -0.98 | -1.33 | -1.44 | nan |
| Diluted EPS | -1.10 | -1.03 | -0.98 | -1.33 | nan | nan |
| Basic Shares Outstanding | 16.3M | 11.4M | 10K | 7.1M | 6.2M | - |
| Diluted Shares Outstanding | 16.3M | 11.4M | 10K | 7K | - | - |
| Breakdown | 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) |
|---|---|---|---|---|---|
| Cash & Cash Equivalents | $18.16M | $8.95M | $10.10M | $8.58M | $3.37M |
| Accounts Receivable | $1.51M | $1.37M | $60.00K | $8.00K | $17.00K |
| Other Current Assets | $588.00K | $432.00K | $281.00K | $443.00K | $348.00K |
| Total Current Assets | $20.79M | $19.35M | $14.12M | $20.21M | $4.03M |
| Property Plant & Equipment | $407.00K | $477.00K | $648.00K | $781.00K | $269.00K |
| Other Non-current Assets | $96.00K | $96.00K | - | - | - |
| Total Assets | $23.68M | $22.83M | $16.89M | $23.55M | $5.89M |
| Accounts Payable | $442.00K | $287.00K | $297.00K | $103.00K | $79.00K |
| Deferred Revenue | $702.00K | $527.00K | $1.43M | $346.00K | $69.00K |
| Total Current Liabilities | $3.29M | $2.08M | $2.56M | $1.31M | $772.00K |
| Other Non-current Liabilities | - | $28.00K | - | - | - |
| Total Liabilities | $5.43M | $5.02M | $5.11M | $3.93M | $1.93M |
| Common Stock | $13.00K | $10.00K | $7.00K | $7.00K | $37.00K |
| Retained Earnings | $-45.97M | $-34.21M | $-24.76M | $-15.29M | $-6.31M |
| Total Stockholders Equity | $18.24M | $17.81M | $11.79M | $19.62M | $3.96M |
| Total Liabilities & Equity | $23.68M | $22.83M | $16.89M | $23.55M | $5.89M |
| Breakdown | TTM (Sep 30, 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) |
|---|---|---|---|---|---|---|
| Net Income | $-16.31M | $-11.77M | $-9.45M | $-9.47M | $-8.99M | $-4.67M |
| Stock-based Compensation | $3.45M | $2.39M | $1.66M | $1.64M | $2.03M | $1.11M |
| Change in Receivables | $-1.91M | $138.00K | $1.31M | $52.00K | $-9.00K | $-5.00K |
| Change in Inventory | - | $-301.00K | $-126.00K | $463.00K | $-77.00K | $-693.00K |
| Change in Payables | $85.00K | $155.00K | $-10.00K | $194.00K | $24.00K | $44.00K |
| Operating Cash Flow | $-12.52M | $-8.22M | $-10.01M | $-6.09M | $-5.89M | $-4.19M |
| Capital Expenditure | $56.00K | $53.00K | $113.00K | $118.00K | $595.00K | $276.00K |
| Investing Cash Flow | $227.00K | $7.64M | $-5.11M | $7.88M | $-11.60M | $-276.00K |
| Debt Repayment | - | - | - | - | - | $81.00K |
| Financing Cash Flow | $42.05M | $9.82M | $13.81M | - | $22.56M | $4.51M |
| Net Change in Cash | - | - | - | - | - | $43.00K |
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 | $149.00K | $1.29M | $2.58M | $2.66M |
| Cost of Revenue | $126.00K | $887.00K | $1.88M | $1.96M |
| Gross Profit | $23.00K | $405.00K | $694.00K | $696.00K |
| Research & Development | $2.48M | $1.73M | $7.32M | $4.71M |
| Operating Income | $-4.71M | $-3.02M | $-13.71M | $-8.74M |
| Net Income | $-4.42M | $-2.87M | $-12.76M | $-8.21M |
| Basic EPS | -0.27 | -0.23 | -0.81 | -0.74 |
| Diluted EPS | -0.27 | -0.23 | -0.81 | -0.74 |
| Basic Shares Outstanding | $16.33M | $12.26M | $15.75M | $11.05M |
| Diluted Shares Outstanding | $16.33M | $12.26M | $15.75M | $11.05M |
Condensed Consolidated Balance Sheets
| Description | Sep 30, 2025 | Dec 31, 2024 |
|---|---|---|
| Cash & Cash Equivalents | $29.48M | $18.16M |
| Accounts Receivable | $354.00K | $1.51M |
| Inventory | - | $203.00K |
| Other Current Assets | $1.17M | $588.00K |
| Total Current Assets | $31.34M | $20.79M |
| Property Plant & Equipment | $360.00K | $407.00K |
| Other Non-current Assets | $96.00K | $96.00K |
| Total Assets | $32.91M | $23.68M |
| Accounts Payable | $357.00K | $442.00K |
| Deferred Revenue | $240.00K | $702.00K |
| Total Current Liabilities | $3.21M | $3.29M |
| Total Liabilities | $3.80M | $5.43M |
| Common Stock | $17.00K | $13.00K |
| Retained Earnings | $-58.73M | $-45.97M |
| Total Stockholders Equity | $29.11M | $18.24M |
| Total Liabilities & Equity | $32.91M | $23.68M |
Condensed Consolidated Statements of Cash Flows
| Description | Sep 30, 2025 | Sep 30, 2025 | ||
|---|---|---|---|---|
| Current | Prior Year | Current YTD | Prior Year YTD | |
| Net Income | $-4.42M | $-2.87M | $-12.76M | $-8.21M |
| Stock-based Compensation | $914.00K | $537.00K | $2.56M | $1.50M |
| Change in Receivables | $-163.00K | $154.00K | $-1.19M | $-460.00K |
| Change in Inventory | - | $-111.00K | $-203.00K | $-176.00K |
| Change in Payables | $-191.00K | $9.00K | $-65.00K | $14.00K |
| Operating Cash Flow | $-3.42M | $-2.20M | $-9.82M | $-5.52M |
| Capital Expenditure | $11.00K | $8.00K | $41.00K | $38.00K |
| Investing Cash Flow | $-11.00K | $-8.00K | $269.00K | $7.96M |
| Financing Cash Flow | $1.00K | $9.85M | $21.06M | $9.85M |
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.