$296.15M
Revenue
$-208.25M
Net Income
3.85%
Gross Margin
-56.40%
Op. Margin
$-344.00M
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) |
|---|---|---|---|---|---|
| Total Revenue | $296.15M | $304.10M | $243.80M | $160.55M | $137.60M |
| Revenue Growth % | -2.6% | 24.7% | 51.9% | 16.7% | nan% |
| Cost of Revenue | $284.74M | $259.65M | $185.83M | $131.85M | $108.22M |
| Gross Profit | $11.41M | $44.45M | $57.97M | $28.70M | $29.38M |
| Gross Margin % | 3.9% | 14.6% | 23.8% | 17.9% | 21.3% |
| Research & Development | $11.67M | $6.13M | $4.98M | $4.94M | $4.52M |
| Selling General & Admin | $141.92M | $71.40M | $68.53M | $70.34M | $78.69M |
| Operating Income | $-167.04M | $-42.20M | $-15.55M | $-146.45M | $-70.19M |
| Operating Margin % | -56.4% | -13.9% | -6.4% | -91.2% | -51.0% |
| Interest Expense | - | - | - | - | $6.02M |
| Other Income/Expense | $-31.23M | $-60.65M | $-1.50M | $16.07M | $3.84M |
| Income Before Tax | $-235.84M | $-116.33M | $-27.75M | $-138.59M | $-72.81M |
| Income Tax Expense | $-27.60M | $-2.02M | $-486.00K | $-7.97M | $-11.27M |
| Net Income | $-208.25M | $-114.31M | $-27.26M | $-130.62M | $-61.54M |
| Net Margin % | -70.3% | -37.6% | -11.2% | -81.4% | -44.7% |
| Basic EPS | -3.18 | -2.35 | -0.73 | -2.09 | -1.36 |
| Diluted EPS | -3.18 | -2.35 | -0.73 | -2.09 | -1.36 |
| Basic Shares Outstanding | 145.7M | 66.1M | 64.7M | 63.3M | 45.1M |
| Diluted Shares Outstanding | 145.7M | 66.1M | 64.7M | 63.3M | 45.1M |
| Breakdown | FY 2024 (Dec 31, 2024) |
FY 2023 (Dec 31, 2023) |
FY 2022 (Dec 31, 2022) |
FY 2021 (Dec 31, 2021) |
|---|---|---|---|---|
| Cash & Cash Equivalents | - | $30.28M | $28.32M | $20.52M |
| Accounts Receivable | $21.91M | $32.41M | $26.73M | $16.26M |
| Inventory | $2.24M | $1.52M | $1.47M | $688.00K |
| Other Current Assets | $8.03M | $6.43M | $5.69M | $2.49M |
| Total Current Assets | $125.92M | $109.31M | $96.17M | $55.22M |
| Property Plant & Equipment | - | - | $12.76M | $19.38M |
| Goodwill | $71.16M | $65.76M | $64.62M | $96.31M |
| Intangible Assets | $61.79M | $62.98M | $66.87M | $90.84M |
| Other Non-current Assets | $557.00K | $511.00K | $909.00K | - |
| Total Assets | $292.62M | $271.27M | $257.70M | $261.76M |
| Accounts Payable | $32.13M | $18.57M | $17.58M | $13.13M |
| Accrued Liabilities | $24.19M | $32.90M | $36.58M | $17.12M |
| Deferred Revenue | $67.20M | $52.65M | $29.82M | $15.73M |
| Other Current Liabilities | $19.73M | $2.36M | $3.67M | $1.57M |
| Total Current Liabilities | $149.34M | $112.04M | $94.74M | $51.24M |
| Long-term Debt | $124.46M | $86.84M | $74.75M | $74.87M |
| Deferred Tax Liabilities | $582.00K | $2.40M | $3.25M | $8.60M |
| Other Non-current Liabilities | $428.00K | $400.00K | $506.00K | $730.00K |
| Total Liabilities | $344.53M | $218.44M | $187.81M | $154.53M |
| Common Stock | $7.00K | $7.00K | $6.00K | $6.00K |
| Retained Earnings | $-348.11M | $-233.79M | $-206.53M | $-75.91M |
| Total Stockholders Equity | $-188.71M | $-43.51M | $-6.70M | $107.22M |
| Total Liabilities & Equity | $292.62M | $271.27M | $257.70M | $261.76M |
| 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) |
|---|---|---|---|---|---|
| Net Income | $-211.20M | $-114.31M | $-27.26M | $-130.62M | $-61.54M |
| Depreciation & Amortization | $34.53M | $11.69M | $10.72M | $11.29M | $10.58M |
| Stock-based Compensation | $89.38M | $11.33M | $8.66M | $10.79M | $27.11M |
| Change in Receivables | $-5.15M | $-14.67M | $5.56M | $6.65M | $6.82M |
| Change in Inventory | $2.63M | $734.00K | $44.00K | $978.00K | $195.00K |
| Operating Cash Flow | $-323.83M | $-17.35M | $1.23M | $-31.66M | $-37.36M |
| Capital Expenditure | $20.16M | $6.40M | $5.62M | $3.63M | $2.09M |
| Acquisitions | - | $881.00K | - | $33.23M | $40.56M |
| Investing Cash Flow | $-339.15M | $-7.20M | $-8.33M | $-37.38M | $-38.54M |
| Debt Repayment | $279.43M | $8.86M | $26.68M | $23.66M | $52.80M |
| Stock Issued | $751.48M | $2.67M | $1.24M | $2.96M | - |
| Financing Cash Flow | $708.03M | $43.72M | $9.06M | $76.56M | $74.21M |
| Net Change in Cash | $45.87M | $18.79M | $1.96M | $7.79M | $-1.55M |
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 | $103.43M | $68.64M | $226.59M | $234.54M |
| Cost of Revenue | $86.62M | $56.62M | $219.80M | $194.71M |
| Gross Profit | $16.81M | $12.02M | $6.79M | $39.83M |
| Research & Development | $7.69M | $1.89M | $10.23M | $4.68M |
| Selling General & Admin | $50.28M | $17.52M | $123.50M | $52.97M |
| Operating Income | $-41.85M | $-12.51M | $-148.06M | $-23.22M |
| Other Income/Expense | $13.84M | $-5.31M | $14.69M | $-14.73M |
| Income Before Tax | $-34.29M | $-21.43M | $-167.00M | $-47.49M |
| Income Tax Expense | $6.86M | $-472.00K | $-25.92M | $-348.00K |
| Net Income | $-41.15M | $-20.96M | $-141.08M | $-47.15M |
| Basic EPS | -0.29 | -0.37 | -1.72 | -0.96 |
| Diluted EPS | -0.29 | -0.37 | -1.72 | -0.96 |
| Basic Shares Outstanding | $145.74M | $66.53M | $102.48M | $65.94M |
| Diluted Shares Outstanding | $145.74M | $66.53M | $102.48M | $65.94M |
Condensed Consolidated Balance Sheets
| Description | Sep 30, 2025 | Dec 31, 2024 |
|---|---|---|
| Accounts Receivable | $31.98M | $21.91M |
| Inventory | $53.49M | $2.24M |
| Other Current Assets | $19.92M | $9.67M |
| Total Current Assets | $210.64M | $125.92M |
| Goodwill | $800.01M | $71.16M |
| Intangible Assets | $353.23M | $61.79M |
| Other Non-current Assets | $365.00K | $629.00K |
| Total Assets | $1.45B | $292.62M |
| Accounts Payable | $34.31M | $32.13M |
| Accrued Liabilities | $28.96M | $24.19M |
| Deferred Revenue | $60.01M | $67.20M |
| Other Current Liabilities | $12.99M | $19.73M |
| Total Current Liabilities | $149.58M | $149.34M |
| Long-term Debt | $184.70M | $124.46M |
| Deferred Tax Liabilities | $37.28M | $582.00K |
| Other Non-current Liabilities | $2.12M | $428.00K |
| Total Liabilities | $413.33M | $344.53M |
| Common Stock | $15.00K | $7.00K |
| Retained Earnings | $-536.29M | $-348.11M |
| Total Stockholders Equity | $928.04M | $-188.71M |
| Total Liabilities & Equity | $1.45B | $292.62M |
Condensed Consolidated Statements of Cash Flows
| Description | Sep 30, 2025 | Sep 30, 2025 | ||
|---|---|---|---|---|
| Current | Prior Year | Current YTD | Prior Year YTD | |
| Net Income | $-41.15M | $-20.96M | $-141.08M | $-47.15M |
| Depreciation & Amortization | - | - | $20.23M | $8.54M |
| Stock-based Compensation | - | - | $47.59M | $8.05M |
| Change in Receivables | - | - | $-1.59M | $-14.50M |
| Change in Inventory | - | - | $3.94M | $537.00K |
| Operating Cash Flow | - | - | $-153.07M | $-24.41M |
| Capital Expenditure | - | - | $11.29M | $4.06M |
| Acquisitions | - | - | $151.79M | $796.00K |
| Investing Cash Flow | - | - | $-169.22M | $-3.05M |
| Debt Repayment | - | - | $127.20M | $8.18M |
| Stock Issued | - | - | $337.81M | $546.00K |
| Financing Cash Flow | - | - | $326.92M | $40.28M |
| Net Change in Cash | - | - | $5.26M | $12.82M |
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.