$170.44M
Revenue
$-193.88M
Net Income
-
Gross Margin
-94.58%
Op. Margin
$-110.90M
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 | $30.34M | $29.73M | $21.36M | $89.01M | $21.21M | $24.20M | $22.30M |
| Revenue Growth % (YoY) | 43.0% | 22.9% | -4.2% | nan% | nan% | nan% | nan% |
| Cost of Revenue | - | - | - | - | $6.32M | $12.39M | $10.58M |
| Gross Profit | - | - | - | - | $14.90M | $11.81M | $11.72M |
| Gross Margin % | nan% | nan% | nan% | nan% | 70.2% | 48.8% | 52.5% |
| Operating Expenses | $87.97M | $82.14M | $84.64M | $76.89M | $72.58M | $86.28M | $78.33M |
| Research & Development | $59.61M | $56.10M | $59.50M | $53.09M | $50.38M | $54.43M | $48.87M |
| Operating Income | $-57.64M | $-52.41M | $-63.28M | $12.13M | $-51.37M | $-62.08M | $-56.04M |
| Operating Margin % | -190.0% | -176.3% | -296.3% | 13.6% | -242.1% | -256.6% | -251.3% |
| Interest Expense | $12.28M | $13.17M | $10.99M | $8.57M | $9.42M | $820.00K | $449.00K |
| Other Income/Expense | $-9.51M | $-9.53M | $-7.59M | $-6.04M | $182.00K | $2.48M | $3.05M |
| Net Income | $-67.15M | $-61.94M | $-70.87M | $6.08M | $-51.19M | $-59.60M | $-52.99M |
| Net Margin % | -221.3% | -208.3% | -331.8% | 6.8% | -241.3% | -246.3% | -237.7% |
| Basic EPS | nan | -1.20 | -1.38 | 0.12 | -1.00 | -1.17 | -1.05 |
| Diluted EPS | nan | -1.20 | -1.38 | 0.12 | -1.00 | -1.17 | -1.05 |
| Basic Shares Outstanding | 60K | 51.7M | 51.5M | 51.4M | 458K | 50.8M | 50.6M |
| Diluted Shares Outstanding | 60K | 51.7M | 51.5M | 51.4M | 458K | 50.8M | 50.6M |
| 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 | $34.47M | $58.80M | $79.56M | $130.10M | $57.53M | $56.62M | $57.77M |
| Short-term Investments | $195.60M | $215.40M | $243.74M | $137.76M | $177.16M | $198.84M | $232.59M |
| Accounts Receivable | $26.38M | $25.35M | $20.20M | $18.19M | $20.47M | $23.60M | $22.81M |
| Other Current Assets | $12.90M | $19.47M | $19.48M | $16.08M | $13.77M | $23.33M | $23.50M |
| Total Current Assets | $281.28M | $331.97M | $373.75M | $313.24M | $278.00M | $313.40M | $346.68M |
| Property Plant & Equipment | $104.86M | $107.52M | $111.02M | $114.50M | $117.59M | $120.55M | $123.97M |
| Long-term Investments | $10.79M | $27.84M | $40.30M | $4.86M | $10.18M | $23.11M | $36.94M |
| Other Non-current Assets | $4.61M | $4.27M | $1.88M | $2.99M | $4.00M | $4.33M | $2.95M |
| Total Assets | $453.03M | $525.20M | $581.03M | $490.93M | $465.99M | $519.11M | $569.38M |
| Accounts Payable | $21.36M | $22.27M | $21.66M | $19.04M | $22.80M | $19.52M | $16.36M |
| Deferred Revenue | $10.45M | $13.20M | $13.98M | $13.59M | $115.00K | $144.00K | $21.00K |
| Total Current Liabilities | $118.09M | $124.57M | $119.54M | $106.73M | $103.19M | $102.72M | $98.27M |
| Other Non-current Liabilities | $638.00K | $648.00K | $664.00K | $680.00K | $3.63M | $3.58M | $3.53M |
| Total Liabilities | $350.30M | $363.75M | $367.35M | $216.73M | $206.34M | $217.70M | $221.11M |
| Common Stock | $5.00K | $5.00K | $5.00K | $5.00K | $5.00K | $5.00K | $5.00K |
| Retained Earnings | $-1.13B | $-1.06B | $-996.94M | $-926.07M | $-932.15M | $-880.96M | $-821.37M |
| Total Stockholders Equity | $102.73M | $161.45M | $213.68M | $274.20M | $259.65M | $301.42M | $348.27M |
| Total Liabilities & Equity | $453.03M | $525.20M | $581.03M | $490.93M | $465.99M | $519.11M | $569.38M |
| 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 | $-67.15M | $-61.94M | $-64.79M | $6.08M | $-51.19M | $-59.60M | $-52.99M |
| Depreciation & Amortization | $3.87M | $11.75M | $7.86M | $3.96M | $4.02M | $12.19M | $8.23M |
| Stock-based Compensation | $8.38M | $26.19M | $17.19M | $8.54M | $9.54M | $28.92M | $19.04M |
| Change in Receivables | $561.00K | $7.10M | $790.00K | $-1.57M | $-8.13M | $-1.57M | $-2.28M |
| Operating Cash Flow | $-52.29M | $-71.67M | $-15.71M | $33.63M | $-31.62M | $-141.50M | $-100.95M |
| Capital Expenditure | $508.00K | $1.91M | $1.42M | $1.02M | $1.08M | $1.36M | $1.03M |
| Purchases of Investments | $62.81M | $269.82M | $230.30M | $19.16M | $16.22M | $173.92M | $137.72M |
| Investing Cash Flow | $37.54M | $-53.41M | $-95.69M | $44.74M | $40.27M | $63.17M | $12.91M |
| Financing Cash Flow | $-9.58M | $126.36M | $133.44M | $-5.79M | $-7.74M | $100.42M | $111.28M |
| Net Change in Cash | $-24.34M | $1.28M | $22.03M | $72.58M | $909.00K | $22.09M | $23.24M |
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-Q filings.
Quarterly data represents single quarter results (Q1-Q4). Some items may show year-to-date values if quarterly breakdown is unavailable.