$170.44M
Revenue
$-193.88M
Net Income
-
Gross Margin
-94.58%
Op. Margin
$-110.90M
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) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Revenue | $170.44M | $170.44M | $83.33M | $90.24M | $112.72M | $470.35M | $154.57M | $35.23M | $218.50M | $10.39M | $4.59M |
| Revenue Growth % | 0.0% | 104.5% | -7.7% | -19.9% | -76.0% | 204.3% | 338.7% | -83.9% | 2002.4% | 126.5% | nan% |
| Cost of Revenue | - | - | $33.57M | $37.21M | $54.55M | $51.83M | $35.71M | $8.24M | $9.64M | $1.71M | $959.00K |
| Gross Profit | - | - | $49.76M | $53.03M | $58.18M | $418.51M | $118.85M | $26.99M | $208.87M | $8.68M | $3.63M |
| Gross Margin % | nan% | nan% | 59.7% | 58.8% | 51.6% | 89.0% | 76.9% | 76.6% | 95.6% | 83.6% | 79.1% |
| Operating Expenses | $331.64M | $331.64M | $316.67M | $358.37M | $375.60M | $310.37M | $273.80M | $184.23M | $130.41M | $86.28M | $69.93M |
| Research & Development | $228.30M | $228.30M | $208.52M | $232.27M | $242.45M | $181.44M | $166.29M | $124.19M | $83.87M | $57.22M | $45.48M |
| Operating Income | $-161.20M | $-161.20M | $-233.35M | $-268.13M | $-262.88M | $159.98M | $-119.23M | $-149.00M | $88.10M | $-75.89M | $-65.34M |
| Operating Margin % | -94.6% | -94.6% | -280.0% | -297.1% | -233.2% | 34.0% | -77.1% | -422.9% | 40.3% | -730.2% | -1423.8% |
| Interest Expense | $45.01M | $45.01M | $12.66M | $6.86M | $23.25M | $26.28M | $771.00K | - | - | - | - |
| Interest Income | - | $12.20M | $12.10M | - | - | - | - | - | - | - | - |
| Other Income/Expense | $-32.68M | $-32.68M | $6.24M | $4.48M | $-17.53M | $-18.73M | $13.22M | $51.51M | $16.02M | $2.72M | $1.94M |
| Income Before Tax | - | $-193.88M | $-227.10M | $-263.65M | $-280.40M | $141.25M | $-106.01M | $-97.49M | $104.12M | $-73.17M | $-63.40M |
| Income Tax Expense | - | - | - | $-152.00K | $-84.00K | $13.41M | $5.24M | $-2.75M | $4.18M | - | $-435.00K |
| Net Income | $-193.88M | $-193.88M | $-227.10M | $-263.49M | $-280.32M | $127.84M | $-111.25M | $-94.73M | $99.94M | $-73.17M | $-62.97M |
| Net Margin % | -113.8% | -113.8% | -272.5% | -292.0% | -248.7% | 27.2% | -72.0% | -268.9% | 45.7% | -704.0% | -1372.1% |
| Basic EPS | nan | -3.76 | -4.59 | -6.02 | -6.50 | 3.01 | -2.98 | -2.58 | 2.99 | -2.45 | -2.38 |
| Diluted EPS | nan | -3.76 | -4.59 | -6.02 | -6.50 | 2.91 | -2.98 | -2.58 | 2.73 | -2.45 | -2.38 |
| Basic Shares Outstanding | 60K | 51.6M | 49.5M | 43.7M | 43.2M | 42.4M | 37.3M | 36.7M | 33.4M | 29.9M | 26.4M |
| Diluted Shares Outstanding | 60K | 51.6M | 49.5M | 43.7M | 43.2M | 43.9M | 37.3M | 36.7M | 36.6M | 29.9M | 26.4M |
| 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) |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Cash Equivalents | $34.47M | $57.53M | $34.52M | $96.95M | $345.21M | $338.43M | $69.51M | $75.56M | $46.66M | $24.84M |
| Short-term Investments | $195.60M | $177.16M | $240.74M | $267.69M | $112.23M | $137.31M | $226.70M | $244.20M | $114.12M | $64.71M |
| Accounts Receivable | $26.38M | $20.47M | $24.79M | $28.08M | $32.44M | $43.00M | $38.15M | - | - | - |
| Other Current Assets | $12.90M | $13.77M | $20.40M | $9.35M | $10.20M | $1.95M | $4.20M | $3.83M | $1.41M | $1.01M |
| Total Current Assets | $281.28M | $278.00M | $334.97M | $415.98M | $518.83M | $531.20M | $345.03M | $337.91M | $168.00M | $93.37M |
| Property Plant & Equipment | $104.86M | $117.59M | $132.10M | $141.69M | $131.55M | $56.47M | $28.97M | $28.70M | $13.98M | $9.32M |
| Long-term Investments | $10.79M | $10.18M | $38.87M | $200.56M | $391.91M | $46.81M | $103.78M | $150.82M | $15.62M | $69.41M |
| Other Non-current Assets | $4.61M | $4.00M | $4.81M | $6.40M | $6.43M | $5.28M | $4.55M | $2.31M | $862.00K | $400.00K |
| Total Assets | $453.03M | $465.99M | $573.97M | $833.27M | $1.11B | $708.16M | $497.91M | $543.81M | $198.68M | $172.73M |
| Accounts Payable | $21.36M | $22.80M | $22.79M | $27.21M | $11.39M | $10.62M | $6.41M | $4.41M | $4.83M | $1.54M |
| Deferred Revenue | $10.45M | $115.00K | $148.00K | $1.83M | $3.33M | $449.00K | - | $600.00K | - | - |
| Total Current Liabilities | $118.09M | $103.19M | $130.27M | $130.43M | $130.47M | $81.45M | $33.68M | $22.18M | $14.44M | $9.67M |
| Other Non-current Liabilities | $638.00K | $3.63M | $6.25M | $8.83M | $745.00K | $524.00K | $1.83M | $2.50M | - | - |
| Total Liabilities | $350.30M | $206.34M | $262.23M | $317.07M | $349.61M | $330.41M | $47.71M | $34.97M | $15.65M | $10.99M |
| Common Stock | $5.00K | $5.00K | $4.00K | $4.00K | $4.00K | $4.00K | $4.00K | $4.00K | $3.00K | $3.00K |
| Retained Earnings | $-1.13B | $-932.15M | $-705.05M | $-441.55M | $-161.23M | $-289.07M | $-177.82M | $-83.02M | $-187.76M | $-114.59M |
| Total Stockholders Equity | $102.73M | $259.65M | $311.74M | $516.20M | $764.30M | $377.75M | $450.20M | $508.85M | $183.03M | $161.74M |
| Total Liabilities & Equity | $453.03M | $465.99M | $573.97M | $833.27M | $1.11B | $708.16M | $497.91M | $543.81M | $198.68M | $172.73M |
| 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) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Income | $-187.79M | $-193.88M | $-227.10M | $-263.49M | $-280.32M | $127.84M | $-111.25M | $-94.73M | $99.94M | $-73.17M | $-62.97M |
| Depreciation & Amortization | $27.43M | $15.62M | $16.21M | $17.32M | $12.91M | $9.56M | $8.41M | $7.15M | $3.98M | $2.69M | $544.00K |
| Stock-based Compensation | $60.29M | $34.56M | $38.46M | $40.27M | $40.79M | $38.81M | $31.95M | $26.85M | $16.64M | $10.61M | $7.03M |
| Change in Receivables | $6.88M | $7.66M | $-9.71M | $-3.94M | $-4.82M | $-14.12M | $9.90M | $8.62M | $16.80M | $-561.00K | $-1.07M |
| Operating Cash Flow | $-106.05M | $-123.96M | $-173.12M | $-218.41M | $-207.49M | $218.88M | $-54.06M | $-107.70M | $104.65M | $-57.99M | $-48.56M |
| Capital Expenditure | $4.85M | $2.41M | $2.44M | $9.96M | $30.72M | $84.17M | $26.87M | $11.72M | $13.28M | $7.16M | $8.15M |
| Purchases of Investments | $582.09M | $332.63M | $190.14M | $86.56M | $184.88M | $498.14M | $123.04M | $190.74M | $445.83M | $68.63M | $45.07M |
| Investing Cash Flow | $-66.82M | $-15.87M | $103.45M | $190.94M | $-11.93M | $-406.64M | $122.76M | $93.56M | $-279.36M | $-4.79M | $19.39M |
| Stock Issued | - | - | - | - | - | - | - | - | $189.72M | $81.99M | - |
| Financing Cash Flow | $244.41M | $116.77M | $92.68M | $-34.97M | $-28.84M | $195.25M | $200.21M | $8.38M | $204.44M | $84.60M | $119.00K |
| Net Change in Cash | $71.55M | $-23.06M | $23.00M | $-62.43M | $-248.26M | $7.48M | $268.91M | $-5.77M | $29.73M | $21.82M | $-29.05M |
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 | $29.73M | $24.20M | $140.10M | $62.11M |
| Operating Expenses | $82.14M | $86.28M | $243.67M | $244.09M |
| Research & Development | $56.10M | $54.43M | $168.69M | $158.14M |
| Operating Income | $-52.41M | $-62.08M | $-103.56M | $-181.98M |
| Interest Expense | $13.17M | $820.00K | $32.73M | $3.24M |
| Other Income/Expense | $-9.53M | $2.48M | $-23.17M | $6.06M |
| Net Income | $-61.94M | $-59.60M | $-126.73M | $-175.92M |
| Basic EPS | -1.20 | -1.17 | -2.46 | -3.59 |
| Diluted EPS | -1.20 | -1.17 | -2.46 | -3.59 |
| Basic Shares Outstanding | $51.69M | $50.80M | $51.51M | $49.05M |
| Diluted Shares Outstanding | $51.69M | $50.80M | $51.51M | $49.05M |
Condensed Consolidated Balance Sheets
| Description | Sep 30, 2025 | Dec 31, 2024 |
|---|---|---|
| Cash & Cash Equivalents | $58.80M | $57.53M |
| Short-term Investments | $215.40M | $177.16M |
| Accounts Receivable | $25.35M | $20.47M |
| Other Current Assets | $19.47M | $13.77M |
| Total Current Assets | $331.97M | $278.00M |
| Property Plant & Equipment | $107.52M | $117.59M |
| Long-term Investments | $27.84M | $10.18M |
| Other Non-current Assets | $4.27M | $4.00M |
| Total Assets | $525.20M | $465.99M |
| Accounts Payable | $22.27M | $22.80M |
| Deferred Revenue | $13.20M | $115.00K |
| Total Current Liabilities | $124.57M | $103.19M |
| Other Non-current Liabilities | $648.00K | $3.63M |
| Total Liabilities | $363.75M | $206.34M |
| Common Stock | $5.00K | $5.00K |
| Retained Earnings | $-1.06B | $-932.15M |
| Total Stockholders Equity | $161.45M | $259.65M |
| Total Liabilities & Equity | $525.20M | $465.99M |
Condensed Consolidated Statements of Cash Flows
| Description | Sep 30, 2025 | Sep 30, 2025 | ||
|---|---|---|---|---|
| Current | Prior Year | Current YTD | Prior Year YTD | |
| Net Income | $-61.94M | $-59.60M | $-126.73M | $-175.92M |
| Depreciation & Amortization | - | - | $11.75M | $12.19M |
| Stock-based Compensation | - | - | $26.19M | $28.92M |
| Change in Receivables | - | - | $7.10M | $-1.57M |
| Operating Cash Flow | - | - | $-71.67M | $-141.50M |
| Capital Expenditure | - | - | $1.91M | $1.36M |
| Purchases of Investments | - | - | $269.82M | $173.92M |
| Investing Cash Flow | - | - | $-53.41M | $63.17M |
| Financing Cash Flow | - | - | $126.36M | $100.42M |
| Net Change in Cash | - | - | $1.28M | $22.09M |
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.