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Operating Expense Breakdown
Details core costs like R&D, marketing, and admin, offering insight into how efficiently the company runs and where it’s prioritizing investment.SG&A has become lumpy and materially higher since mid‑2025—driven mainly by acquisition‑related one‑offs (accelerated equity vesting and transaction costs)—while impairments and transaction spikes add noise. At the same time R&D/IRAD has been intentionally ramped from ~< $1M to double‑digit millions as management invests to capture a record backlog and recent contract wins. The key investor takeaway: strip out acquisitive one‑time items to judge operating leverage; if bookings convert as guided, elevated R&D should drive sustainable revenue/margin improvement, but execution or financing shortfalls would pressure near‑term profitability and dilution risk.
Date | Research and Development | Selling, General, and Administrative | Impairment | Transaction Expense | Contingent Earnout |
|---|---|---|---|---|---|
Jun 30, 2026 | $12.55M | $42.08M | $0.00 | $11.00K | $0.00 |
Mar 31, 2026 | $12.58M | $82.89M | $0.00 | $40.00K | $0.00 |
Dec 31, 2025 | $9.54M | $47.78M | $34.69M | $110.00K | $0.00 |
Sep 30, 2025 | $7.69M | $50.28M | $0.00 | $684.00K | $0.00 |
Jun 30, 2025 | $1.72M | $54.46M | $0.00 | $16.64M | $0.00 |
Mar 31, 2025 | $813.00K | $18.75M | $0.00 | $3.80M | $0.00 |
Dec 31, 2024 | $1.45M | $18.43M | $0.00 | $3.73M | $0.00 |
Sep 30, 2024 | $1.89M | $17.52M | $0.00 | $5.12M | $0.00 |
Jun 30, 2024 | $1.75M | $18.09M | $0.00 | $278.00K | $0.00 |
Mar 31, 2024 | $1.04M | $17.36M | $0.00 | $0.00 | $0.00 |