| Line Item | 2025-12-31 | Y/Y |
|---|---|---|
| Revenue | $19.1M | — |
| Cost of Revenue | $418K | — |
| R&D Expense | $18.7M | -37.4% |
| SG&A Expense | $91.1M | +216.4% |
| Operating Income | -$91.1M | -55.5% |
| Pre-tax Income | -$81.6M | -64.0% |
| Income Tax | $502K | — |
| Net Income | -$82.1M | -65.0% |
| EPS (Basic) | -$2.85 | -21.8% |
| EPS (Diluted) | -$2.85 | -21.8% |
| Line Item | 2025-12-31 | Y/Y |
|---|---|---|
| Cash & Equivalents | $25.2M | +24.9% |
| Accounts Receivable | $329K | — |
| Inventory | $2.9M | — |
| Current Assets | $301.4M | +42.2% |
| Total Assets | $305.9M | +42.1% |
| Current Liabilities | $21.2M | +103.6% |
| Total Liabilities | $21.5M | +92.0% |
| Stockholders' Equity |
| Line Item | 2025-12-31 | Y/Y |
|---|---|---|
| Operating Cash Flow | -$69.2M | -16.5% |
| Capital Expenditures | $827K | +76.7% |
| Investing Cash Flow | -$75.7M | +51.0% |
| Financing Cash Flow | $149.7M | -24.8% |
| Free Cash Flow | -$70.0M | -16.9% |
| $284.3M |
| +39.3% |