Revenue
2022
2023
2024
2025
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Revenue | $204,120 | $0 | $0 | $0 | — |
| Gross profit | −$413,325 | $0 | — | — | — |
| Gross margin | −202.49% | — | — | — | — |
| Research & development | $198,762 | $318,892 | $483,390 | $2.3M | $1.7M |
| Operating expenses | $276.1M | $5.6M | $10.1M | $8.7M | $4.5M |
| Operating income | −$269.7M | −$5.6M | −$10.1M | −$8.7M | −$4.5M |
| Operating margin | −132,145.49% | — | — | — | — |
| EBITDA | −$269.6M | −$5.5M | −$9.2M | −$8.1M | −$4.5M |
| EBITDA margin | −132,080.56% | — | — | — | — |
| Net income | −$282.5M | −$9.3M | −$9.8M | −$4.6M | −$4.7M |
| Net profit margin | −138,400.02% | — | — | — | — |
| Basic EPSper basic share | -$11.16 | -$7.40 | -$16.61 | -$12.54 | -$21.12 |
| Diluted EPSper diluted share | -$11.16 | -$7.40 | -$16.61 | -$12.54 | — |
Reported shareholders
| Holder | % owned |
|---|---|
Electric Capital Partners, LLC | 6.10%2.62M shares |
ParaFi Capital LP | 5.00%2.15M shares |
Saba Capital Management, L.P. | 3.52%1.51M shares |
VANGUARD CAPITAL MANAGEMENT LLC | 3.24%1.39M shares |
Pantera Capital Partners LP | 2.68%1.15M shares |
Arrington Capital Management, LLC | 2.43%1.04M shares |
SCOGGIN MANAGEMENT LP | 2.33%1M shares |
CITADEL ADVISORS LLC | 2.30%989.15K shares |
Monarch Digital, Inc. / MNNC Capital Digital Opportunities BTC Master Fund LP / MNNC Capital Digital Asset Opportunities Master Fund LP / MNNC Capital GP LLC / Solios, Inc. / FalconX Alpha, Inc. / FalconX Holdings Ltd | ≈1.07%461.54K shares |
Hayes Robert Michael | ≈0.93%400.88K shares |
GEODE CAPITAL MANAGEMENT, LLC | 0.93%399.67K shares |
Shay Capital LLC | 0.86%369.83K shares |
UBS Group AG | 0.72%309.74K shares |
VANGUARD FIDUCIARY TRUST CO | 0.58%249.85K shares |
BlackRock, Inc. | 0.53%226.57K shares |
STATE STREET CORP | 0.28%118.8K shares |
NORTHERN TRUST CORP | 0.22%96.52K shares |
SUSQUEHANNA INTERNATIONAL GROUP, LLP | 0.20%84.81K shares |
Cannell & Spears LLC | 0.20%84.14K shares |
Schonfeld Strategic Advisors LLC | 0.14%60.69K shares |
Percentages use 42.98M shares of this listed class outstanding on Jun 30, 2026. ≈ compares the latest reported holding with a share total from a different date; it is not a confirmed current stake.
Gray completes the 100% scale. Reported positions may overlap; holders have different reporting dates.
| Transaction | Insider | Type | Shares | Price | Value | Owned after |
|---|---|---|---|---|---|---|
| Jan 16, 2026Form 4 | Saba Capital Management, L.P.TenPercentOwner | SellCommon Stock · indirect | 12.2K | $2.37 | $28.9K | 1.51M |
| Jan 15, 2026Form 4 | Saba Capital Management, L.P.TenPercentOwner | SellCommon Stock · indirect | 25.0K | $2.30 | $57.5K | 1.52M |
| Jan 14, 2026Form 4 | Saba Capital Management, L.P.TenPercentOwner | SellCommon Stock · indirect | 77.7K | $2.25 | $174.8K | 1.55M |
| Jan 13, 2026Form 4 | Saba Capital Management, L.P.TenPercentOwner | SellCommon Stock · indirect | 29.8K | $2.19 | $65.2K | 1.63M |
| Jan 12, 2026Form 4 | Monarch Digital, Inc. +6TenPercentOwner | SellCommon Stock · indirect | 47.3K | $1.97 | $93.1K | 0 |