$31.80M
Revenue
$-58.49M
Net Income
-
Gross Margin
-137.64%
Op. Margin
$25.45M
Free Cash Flow
| Breakdown | 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) |
Q1 2024 (Mar 31, 2024) |
Q4 2023 (Dec 31, 2023) |
Q3 2023 (Sep 30, 2023) |
Q2 2023 (Jun 30, 2023) |
Q1 2023 (Mar 31, 2023) |
Q4 2022 (Dec 31, 2022) |
Q3 2022 (Sep 30, 2022) |
Q2 2022 (Jun 30, 2022) |
Q1 2022 (Mar 31, 2022) |
Q4 2021 (Dec 31, 2021) |
Q3 2021 (Sep 30, 2021) |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Revenue | $19.07M | $8.08M | $2.93M | $1.72M | $2.26M | $2.36M | - | - | - | - | - | - | - | - | - | - | - |
| Revenue Growth % (YoY) | 742.5% | 243.0% | nan% | nan% | nan% | nan% | nan% | nan% | nan% | nan% | nan% | nan% | nan% | nan% | nan% | nan% | nan% |
| Operating Expenses | $21.00M | $22.45M | $16.78M | $15.35M | $17.02M | $17.06M | $17.49M | $18.13M | $17.36M | $20.12M | $23.53M | $23.17M | $20.21M | $24.55M | $21.22M | $19.56M | $15.96M |
| Research & Development | $14.32M | $15.33M | $8.27M | $8.84M | $10.76M | $11.22M | $10.40M | $11.74M | $11.05M | $13.22M | $16.13M | $15.00M | $13.04M | $16.25M | $14.92M | $11.35M | $10.47M |
| Operating Income | $-1.93M | $-14.37M | $-13.85M | $-13.63M | $-14.76M | $-14.70M | $-17.49M | $-18.13M | $-17.36M | $-20.12M | $-23.53M | $-23.17M | $-20.21M | $-24.55M | $-21.22M | $-19.56M | $-15.96M |
| Operating Margin % | -10.1% | -177.7% | -472.7% | -790.5% | -652.3% | -623.8% | nan% | nan% | nan% | nan% | nan% | nan% | nan% | nan% | nan% | nan% | nan% |
| Interest Expense | - | - | - | - | $62.00K | $62.00K | $62.00K | $99.00K | $474.00K | $332.00K | $209.00K | $175.00K | $380.00K | $240.00K | $119.00K | $121.00K | $371.00K |
| Other Income/Expense | $1.02M | $-1.43M | $586.00K | $536.00K | $742.00K | $779.00K | $284.00K | $475.00K | $613.00K | $761.00K | $880.00K | $701.00K | $416.00K | $-61.00K | $-129.00K | $-145.00K | $-290.00K |
| Net Income | $-16.29M | $-15.84M | $-13.27M | $-13.09M | $-14.02M | $-13.93M | $-17.20M | $-17.66M | $-16.75M | $-19.36M | $-22.65M | $-22.47M | $-19.79M | $-24.61M | $-21.35M | $-19.70M | $-16.25M |
| Net Margin % | -85.4% | -196.0% | -452.7% | -759.5% | -619.5% | -590.8% | nan% | nan% | nan% | nan% | nan% | nan% | nan% | nan% | nan% | nan% | nan% |
| Basic EPS | -0.11 | -0.16 | -0.18 | -0.18 | -0.22 | -0.24 | -0.62 | -0.64 | -0.61 | -0.70 | -0.83 | -0.82 | -0.72 | -0.90 | -0.78 | 62.66 | -21.27 |
| Diluted EPS | -0.11 | -0.16 | -0.18 | -0.18 | -0.22 | -0.24 | -0.62 | -0.64 | -0.61 | -0.70 | -0.83 | -0.82 | -0.72 | -0.90 | -0.78 | 62.66 | -21.27 |
| Basic Shares Outstanding | 144.1M | 96.4M | 74.7M | 3.7M | 63.5M | 57.8M | 27.9M | 21K | 27.5M | 27.5M | 27.4M | 8K | 27.4M | 27.4M | 27.4M | 4.9M | 764K |
| Breakdown | 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) |
Q1 2024 (Mar 31, 2024) |
Q4 2023 (Dec 31, 2023) |
Q3 2023 (Sep 30, 2023) |
Q2 2023 (Jun 30, 2023) |
Q1 2023 (Mar 31, 2023) |
Q4 2022 (Dec 31, 2022) |
Q3 2022 (Sep 30, 2022) |
Q2 2022 (Jun 30, 2022) |
Q1 2022 (Mar 31, 2022) |
Q4 2021 (Dec 31, 2021) |
Q3 2021 (Sep 30, 2021) |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Cash Equivalents | $103.76M | $121.55M | $89.07M | $55.29M | $61.26M | $74.95M | $33.98M | $44.70M | $59.77M | $75.38M | $93.27M | $120.39M | $139.14M | $159.41M | $176.96M | $198.05M | $99.77M |
| Accounts Receivable | - | - | - | - | - | - | $30.00M | - | - | - | - | - | - | - | - | - | - |
| Other Current Assets | $2.83M | $2.17M | $4.13M | $4.94M | $2.05M | $3.06M | $5.21M | $3.42M | $4.71M | $3.04M | $3.71M | $4.11M | $3.17M | $3.60M | $4.13M | $4.46M | $3.40M |
| Total Current Assets | $124.09M | $123.72M | $93.20M | $60.23M | $63.31M | $78.01M | $69.19M | $48.13M | $64.48M | $78.42M | $96.98M | $124.50M | $142.31M | $163.01M | $181.09M | $202.52M | $105.57M |
| Property Plant & Equipment | $3.68M | $4.02M | $4.29M | $4.47M | $4.84M | $5.14M | $5.54M | $5.94M | $6.37M | $6.80M | $7.25M | $7.25M | $7.55M | $7.44M | $7.47M | $7.62M | $7.11M |
| Other Non-current Assets | - | - | - | - | - | $92.00K | $121.00K | $145.00K | $169.00K | $197.00K | $232.00K | $267.00K | $301.00K | $335.00K | $359.00K | $393.00K | $427.00K |
| Total Assets | $133.69M | $133.81M | $103.72M | $71.08M | $74.66M | $89.87M | $82.61M | $60.93M | $77.84M | $92.36M | $111.50M | $139.16M | $157.41M | $178.13M | $196.35M | $218.06M | $120.72M |
| Accounts Payable | $2.30M | $4.10M | $2.27M | $2.57M | $972.00K | $1.26M | $746.00K | $1.05M | $1.49M | $945.00K | $2.01M | $3.12M | $1.81M | $1.41M | $2.32M | $3.14M | $3.82M |
| Accrued Liabilities | $8.95M | $5.62M | $3.88M | $9.98M | $9.79M | $9.74M | $8.00M | $10.50M | $9.40M | $7.14M | $6.48M | $10.33M | $9.06M | $12.09M | $7.32M | $8.75M | $8.19M |
| Deferred Revenue | $43.85M | $42.28M | $40.25M | $13.52M | $26.11M | $26.52M | $21.73M | - | - | - | - | - | - | - | - | - | - |
| Other Current Liabilities | - | - | - | - | - | $7.00K | $28.00K | $48.00K | $68.00K | $82.00K | $82.00K | $82.00K | $82.00K | $82.00K | $82.00K | $82.00K | $82.00K |
| Total Current Liabilities | $56.40M | $53.26M | $47.64M | $27.26M | $38.02M | $38.64M | $31.58M | $15.96M | $16.93M | $16.29M | $16.19M | $21.12M | $16.84M | $17.77M | $12.22M | $12.78M | $12.87M |
| Other Non-current Liabilities | - | - | - | - | - | - | - | - | - | $7.00K | $26.00K | $45.00K | $64.00K | $82.00K | $100.00K | $118.00K | $1.52M |
| Total Liabilities | $141.79M | $126.74M | $93.02M | $53.48M | $53.68M | $56.46M | $56.84M | $24.10M | $25.34M | $24.98M | $26.71M | $33.52M | $31.12M | $33.91M | $30.23M | $32.63M | $34.29M |
| Common Stock | $5.00K | $5.00K | $5.00K | $5.00K | $4.00K | $4.00K | $3.00K | $3.00K | $3.00K | $3.00K | $3.00K | $3.00K | $3.00K | $3.00K | $3.00K | $3.00K | - |
| Retained Earnings | $-429.15M | $-412.86M | $-397.02M | $-383.75M | $-370.66M | $-356.64M | $-342.71M | $-325.51M | $-307.86M | $-291.11M | $-271.75M | $-249.11M | $-226.64M | $-206.85M | $-182.24M | $-160.89M | $-141.19M |
| Total Stockholders Equity | $-8.10M | $7.07M | $10.70M | $17.60M | $20.97M | $33.42M | $25.77M | $36.83M | $52.50M | $67.38M | $84.79M | $105.65M | $126.30M | $144.22M | $166.12M | $185.43M | $-136.46M |
| Total Liabilities & Equity | $133.69M | $133.81M | $103.72M | $71.08M | $74.66M | $89.87M | $82.61M | $60.93M | $77.84M | $92.36M | $111.50M | $139.16M | $157.41M | $178.13M | $196.35M | $218.06M | $120.72M |
| Breakdown | 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) |
Q1 2024 (Mar 31, 2024) |
Q4 2023 (Dec 31, 2023) |
Q3 2023 (Sep 30, 2023) |
Q2 2023 (Jun 30, 2023) |
Q1 2023 (Mar 31, 2023) |
Q4 2022 (Dec 31, 2022) |
Q3 2022 (Sep 30, 2022) |
Q2 2022 (Jun 30, 2022) |
Q1 2022 (Mar 31, 2022) |
Q4 2021 (Dec 31, 2021) |
Q3 2021 (Sep 30, 2021) |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Income | $-16.29M | $-15.84M | $-13.27M | $-13.09M | $-14.02M | $-13.93M | $-17.20M | $-17.66M | $-58.75M | $-19.36M | $-22.65M | $-22.47M | $-19.79M | $-24.61M | $-21.35M | $-19.70M | $-16.25M |
| Depreciation & Amortization | $1.22M | $878.00K | $497.00K | $376.00K | $1.27M | $888.00K | $443.00K | $449.00K | $1.45M | $991.00K | $499.00K | $489.00K | $1.36M | $885.00K | $440.00K | $394.00K | $1.10M |
| Stock-based Compensation | $4.01M | $2.89M | $1.53M | $1.52M | $4.92M | $3.34M | $1.83M | $1.93M | $5.45M | $3.59M | $1.79M | $1.81M | $6.61M | $4.74M | $2.03M | $2.07M | $2.89M |
| Change in Receivables | $17.50M | - | - | - | - | - | $30.00M | - | - | - | - | - | - | - | - | - | - |
| Change in Payables | $-276.00K | $1.52M | $-590.00K | $1.60M | $-76.00K | $205.00K | $-304.00K | $-438.00K | $-1.62M | $-2.17M | $-1.36M | $1.46M | $-972.00K | $-1.22M | $-820.00K | $-1.19M | $-1.63M |
| Operating Cash Flow | $-2.99M | $14.50M | $28.98M | $-14.16M | $-4.22M | $9.45M | $-10.50M | $-13.43M | $-55.19M | $-41.82M | $-25.25M | $-18.22M | $-57.50M | $-37.59M | $-20.84M | $-17.16M | $-63.59M |
| Capital Expenditure | $423.00K | $423.00K | $22.00K | $6.00K | $30.00K | $21.00K | - | - | $486.00K | $486.00K | $170.00K | $509.00K | $1.36M | $1.02M | $254.00K | $378.00K | $722.00K |
| Investing Cash Flow | $-423.00K | $-423.00K | $-22.00K | $-6.00K | $-30.00K | $-21.00K | - | - | $-486.00K | $-486.00K | $-170.00K | $-509.00K | $-1.36M | $-1.02M | $-254.00K | $-378.00K | $-722.00K |
| Debt Repayment | - | - | - | - | $3.33M | $3.33M | $3.33M | $1.67M | $5.00M | $2.78M | $1.67M | - | - | - | - | - | $1.00M |
| Financing Cash Flow | $51.91M | $52.19M | $4.83M | $8.20M | $20.99M | $21.00M | $954.00K | $-1.63M | $-4.92M | $-2.68M | $-1.69M | $-21.00K | $-48.00K | $-26.00K | $-5.00K | $115.83M | $144.84M |
| Net Change in Cash | $48.49M | $66.27M | $33.79M | $-5.96M | $16.74M | $30.43M | $-9.55M | $-15.06M | $-60.59M | $-44.99M | $-27.11M | $-18.75M | $-58.91M | $-38.64M | $-21.09M | $98.29M | $80.53M |
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-Q filings.
Quarterly data represents single quarter results (Q1-Q4). Some items may show year-to-date values if quarterly breakdown is unavailable.