Overview
Mar 19, 2001Founded1
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
-230461.0%Operating margin2
-214861.0%Net margin2
105.0%Revenue growth, 20252
-39.2%Return on equity2
0.15×Debt to equity2
-$67.5MFree cash flow2
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Research and development99¢$66.4M
- Income tax1¢$681.0K
Out of $41.0K in revenue.2 The company lost money this year.
Financial statements
Every line of the income statement in the latest annual report, as filed.2
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Revenues | $41.0K | $20.0K |
| Research and development | $66.4M | $82.2M |
| General and administrative | $28.1M | $21.0M |
| Total operating expenses | $94.5M | $103.2M |
| Loss from operations | -$94.5M | -$103.2M |
| Interest expense | -$1.6M | -$9.0K |
| Interest income | $7.5M | $8.1M |
| Other income (expense), net | -$190.0K | $48.0K |
| Total other income (expense), net | $5.7M | $8.1M |
| Net loss before income taxes | -$88.8M | -$95.1M |
| Income tax expense (benefit) | -$681.0K | |
| Net loss | -$88.1M | -$95.1M |
| Other comprehensive income - unrealized gain on short-term investments | $45.0K | $31.0K |
| Comprehensive loss | -$88.0M | -$95.0M |
| Net loss per share, basic | -$1.00 | -$1.34 |
| Net loss per share, diluted | -$1.00 | -$1.34 |
| Weighted-average common shares outstanding, basic | 88.1M shares | 71.0M shares |
| Weighted-average common shares outstanding, diluted | 88.1M shares | 71.0M shares |
Every line of the balance sheet in the latest annual report, as filed.2
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Cash and cash equivalents | $43.8M | $36.9M | |
| Restricted cash | $42.0K | $42.0K | |
| Total cash, cash equivalents and restricted cash | $43.8M | $37.0M | $135.2M |
| Short-term investments | $229.7M | $95.0M | |
| Accounts and other receivables | $1.2M | $544.0K | |
| Income tax and R&D incentive receivables | $518.0K | $2.6M | |
| Prepaid expenses and other current assets | $3.0M | $2.2M | |
| Total current assets | $278.2M | $137.3M | |
| Property and equipment, net | $312.0K | $413.0K | |
| Other assets | $1.4M | $1.6M | |
| Total assets | $279.9M | $139.3M | |
| Accounts payable | $2.7M | $211.0K | |
| Accrued expenses and other current liabilities | $12.3M | $10.3M | |
| Total current liabilities | $15.0M | $10.5M | |
| Term loan, noncurrent | $34.3M | ||
| Other noncurrent liabilities | $5.8M | $5.3M | |
| Total liabilities | $55.0M | $15.8M | |
| Common stock, $0.0001 par value; 200,000,000 shares authorized; 110,882,735 and 72,352,701 shares issued and outstanding as of December 31, 2025 and 2024, respectively | $11.0K | $7.0K | |
| Additional paid-in capital | $879.3M | $689.9M | |
| Accumulated deficit | -$649.5M | -$561.4M | |
| Accumulated other comprehensive loss, net | -$4.9M | -$5.0M | |
| Total stockholders' equity | $224.9M | $123.5M | $194.1M |
| Total liabilities and stockholders' equity | $279.9M | $139.3M | |
| Common stock, par or stated value per share | $0.00 | $0.00 | |
| Common stock, shares authorized | 200.0M shares | 200.0M shares | |
| Common stock, shares issued | 110.9M shares | 72.4M shares | |
| Common stock, shares outstanding | 110.9M shares | 72.4M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow in the latest annual report, as filed.2
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Net loss | -$88.1M | -$95.1M |
| Stock-based compensation expense | $16.1M | $14.4M |
| Depreciation of property and equipment | $112.0K | $238.0K |
| Accretion of discounts on short-term investments | -$2.2M | -$3.9M |
| Amortization of debt discount and costs | $363.0K | |
| Loss on foreign currency exchange | $160.0K | -$48.0K |
| Deferred income tax benefit | -$681.0K | |
| Accounts receivable | -$675.0K | $567.0K |
| Prepaid expenses and other assets | -$204.0K | $4.7M |
| Accounts payable | $2.5M | -$1.9M |
| Accrued expenses and other liabilities | $2.4M | -$112.0K |
| Income tax and R&D incentive receivables | $2.7M | $1.2M |
| Net cash used in operating activities | -$67.5M | -$79.8M |
| Proceeds from sales and maturities of short-term investments | $153.0M | $87.3M |
| Purchases of short-term investments | -$285.4M | -$115.7M |
| Purchases of property and equipment | -$11.0K | |
| Net cash used in investing activities | -$132.5M | -$28.4M |
| Payments of deferred offering costs | -$438.0K | |
| Proceeds from exercises of warrants | $161.0K | |
| Proceeds from term loan | $35.0M | |
| Payment for debt issuance costs | -$1.1M | |
| Proceeds from issuance of common stock in at-the-market offerings, net | $173.7M | $10.0M |
| Proceeds from issuance of common stock from Employee Stock Purchase Plan | $291.0K | $300.0K |
| Proceeds from exercises of stock options | $41.0K | $439.0K |
| Payments for tax withholding in share-based compensation | -$709.0K | -$850.0K |
| Net cash provided by financing activities | $206.8M | $10.0M |
| Net increase (decrease) in cash and cash equivalents and restricted cash | $6.8M | -$98.2M |
| Cash paid for interest | $975.0K | |
| Cash received from income tax refunds | $1.4M | |
| Deferred offering costs in accrued expenses and other current liabilities | $111.0K | |
| Operating lease liability and right-of-use asset addition | $1.4M |
Timeline
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1WikidataAlt Telecom on Wikidata
- 2SEC EDGARAlt Telecom 10-K for fiscal 2025
- 3SEC EDGARAlt Telecom 10-K for fiscal 2019
- 4SEC EDGARAlt Telecom 10-K for fiscal 2020
- 5SEC EDGARAlt Telecom 10-K for fiscal 2022
- 6SEC EDGARAlt Telecom 10-K for fiscal 2023
- 7SEC EDGARAlt Telecom 10-K for fiscal 2021
- 8SEC EDGARAlt Telecom 10-Q for fiscal 2026
- 9SEC EDGARAlt Telecom 10-Q for fiscal 2026