$31.80M
Revenue
$-58.49M
Net Income
-
Gross Margin
-137.64%
Op. Margin
$25.45M
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 | $31.80M | $6.34M | - | - | - |
| Revenue Growth % | 401.3% | nan% | nan% | nan% | nan% |
| Operating Expenses | $75.58M | $66.93M | $79.13M | $89.15M | $75.04M |
| Research & Development | $46.75M | $41.21M | $52.14M | $59.20M | $51.19M |
| Operating Income | $-43.77M | $-60.58M | $-79.13M | $-89.15M | $-75.04M |
| Operating Margin % | -137.6% | -954.9% | nan% | nan% | nan% |
| Interest Expense | - | $62.00K | $573.00K | $555.00K | $492.00K |
| Other Income/Expense | $716.00K | $2.34M | $2.73M | $927.00K | $-756.00K |
| Net Income | $-58.49M | $-58.24M | $-76.40M | $-88.22M | $-75.80M |
| Net Margin % | -183.9% | -918.0% | nan% | nan% | nan% |
| Basic EPS | -0.63 | -1.09 | -2.78 | -3.22 | -13.52 |
| Diluted EPS | -0.63 | -1.09 | -2.78 | -3.22 | -13.52 |
| Basic Shares Outstanding | 144.1M | 53.5M | 27.5M | 27.4M | 5.6M |
| Breakdown | FY 2024 (Dec 31, 2024) |
FY 2023 (Dec 31, 2023) |
FY 2022 (Dec 31, 2022) |
FY 2021 (Dec 31, 2021) |
|---|---|---|---|---|
| Cash & Cash Equivalents | $55.29M | $44.70M | $120.39M | $198.05M |
| Other Current Assets | $4.94M | $3.42M | $4.11M | $4.46M |
| Total Current Assets | $60.23M | $48.13M | $124.50M | $202.52M |
| Property Plant & Equipment | $4.47M | $5.94M | $7.25M | $7.62M |
| Other Non-current Assets | - | $145.00K | $267.00K | $393.00K |
| Total Assets | $71.08M | $60.93M | $139.16M | $218.06M |
| Accounts Payable | $2.57M | $1.05M | $3.12M | $3.14M |
| Accrued Liabilities | $9.98M | $10.50M | $10.33M | $8.75M |
| Deferred Revenue | $13.52M | - | - | - |
| Other Current Liabilities | - | $48.00K | $82.00K | $82.00K |
| Total Current Liabilities | $27.26M | $15.96M | $21.12M | $12.78M |
| Other Non-current Liabilities | - | - | $45.00K | $118.00K |
| Total Liabilities | $53.48M | $24.10M | $33.52M | $32.63M |
| Common Stock | $5.00K | $3.00K | $3.00K | $3.00K |
| Retained Earnings | $-383.75M | $-325.51M | $-249.11M | $-160.89M |
| Total Stockholders Equity | $17.60M | $36.83M | $105.65M | $185.43M |
| Total Liabilities & Equity | $71.08M | $60.93M | $139.16M | $218.06M |
| 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 | $-58.49M | $-58.24M | $-76.40M | $-88.22M | $-75.80M |
| Depreciation & Amortization | $2.97M | $1.64M | $1.90M | $1.85M | $1.50M |
| Stock-based Compensation | $9.95M | $6.43M | $7.38M | $8.42M | $4.96M |
| Change in Payables | $2.26M | $1.53M | $-2.06M | $485.00K | $-2.82M |
| Operating Cash Flow | $26.33M | $-18.38M | $-68.62M | $-75.72M | $-80.75M |
| Capital Expenditure | $874.00K | $36.00K | $486.00K | $1.87M | $1.10M |
| Investing Cash Flow | $-874.00K | $-36.00K | $-486.00K | $-1.87M | $-1.10M |
| Debt Repayment | - | $3.33M | $6.67M | - | $1.00M |
| Stock Issued | - | - | - | - | $116.36M |
| Financing Cash Flow | $117.14M | $29.20M | $-6.55M | $-69.00K | $260.67M |
| Net Change in Cash | $142.59M | $10.78M | $-75.66M | $-77.66M | $178.82M |
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 | $19.07M | $2.26M | $30.08M | $4.62M |
| Operating Expenses | $21.00M | $17.02M | $60.23M | $51.57M |
| Research & Development | $14.32M | $10.76M | $37.92M | $32.38M |
| Operating Income | $-1.93M | $-14.76M | $-30.15M | $-46.95M |
| Interest Expense | - | - | - | $62.00K |
| Other Income/Expense | $1.02M | $742.00K | $180.00K | $1.80M |
| Net Income | $-16.29M | $-14.02M | $-45.40M | $-45.15M |
| Basic EPS | -0.11 | -0.22 | -0.43 | -0.91 |
| Diluted EPS | -0.11 | -0.22 | -0.43 | -0.91 |
| Basic Shares Outstanding | $144.11M | $63.47M | $105.34M | $49.76M |
Condensed Consolidated Balance Sheets
| Description | Sep 30, 2025 | Dec 31, 2024 |
|---|---|---|
| Cash & Cash Equivalents | $103.76M | $55.29M |
| Other Current Assets | $2.83M | $4.94M |
| Total Current Assets | $124.09M | $60.23M |
| Property Plant & Equipment | $3.68M | $4.47M |
| Total Assets | $133.69M | $71.08M |
| Accounts Payable | $2.30M | $2.57M |
| Accrued Liabilities | $8.95M | $9.98M |
| Deferred Revenue | $43.85M | $13.52M |
| Total Current Liabilities | $56.40M | $27.26M |
| Total Liabilities | $141.79M | $53.48M |
| Common Stock | $5.00K | $5.00K |
| Retained Earnings | $-429.15M | $-383.75M |
| Total Stockholders Equity | $-8.10M | $17.60M |
| Total Liabilities & Equity | $133.69M | $71.08M |
Condensed Consolidated Statements of Cash Flows
| Description | Sep 30, 2025 | Sep 30, 2025 | ||
|---|---|---|---|---|
| Current | Prior Year | Current YTD | Prior Year YTD | |
| Net Income | $-16.29M | $-14.02M | $-45.40M | $-45.15M |
| Depreciation & Amortization | - | - | $1.22M | $1.27M |
| Stock-based Compensation | - | - | $4.01M | $4.92M |
| Change in Receivables | - | - | $17.50M | - |
| Change in Payables | - | - | $-276.00K | $-76.00K |
| Operating Cash Flow | - | - | $-2.99M | $-4.22M |
| Capital Expenditure | - | - | $423.00K | $30.00K |
| Investing Cash Flow | - | - | $-423.00K | $-30.00K |
| Debt Repayment | - | - | - | $3.33M |
| Financing Cash Flow | - | - | $51.91M | $20.99M |
| Net Change in Cash | - | - | $48.49M | $16.74M |
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.