Nuburu, Inc.
For the period ended Sep 30, 2025. Filed Nov 14, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 14, 2025
BURU$0.20-8.4%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Condensed Consolidated Statements of Operations
| Three Months EndedSeptember 30, | Nine Months EndedSeptember 30, | |||
|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | |
| Revenue | $— | $— | $— | $142,827 |
| Cost of revenue | (49,806) | 359,950 | 181,373 | 1,950,632 |
| Gross margin | 49,806 | (359,950) | (181,373) | (1,807,805) |
| Operating expenses: | ||||
| Research and development | — | 206,474 | 184,563 | 1,656,350 |
| Selling and marketing | 790,779 | 113,445 | 1,861,112 | 385,965 |
| General and administrative | 1,883,497 | 1,796,774 | 8,057,531 | 6,390,017 |
| Total operating expenses | 2,674,276 | 2,116,693 | 10,103,206 | 8,432,332 |
| Loss from operations | (2,624,470) | (2,476,643) | (10,284,579) | (10,240,137) |
| Non-operating income (loss): | ||||
| Interest income | 48,090 | 721 | 74,669 | 17,202 |
| Interest expense | (35,405) | (1,076,607) | (389,837) | (3,384,422) |
| Change in fair value of warrant liabilities | (1,392,598) | 369,674 | (1,282,284) | 2,156,186 |
| Change in fair value of derivative liability | — | 141,100 | 37,900 | 141,100 |
| Change in fair value of convertible note receivable (related party) | (1,044,294) | — | (1,055,694) | — |
| Change in fair value of notes payable (including $60,512, nil, $60,512 and nil with related parties, respectively) | (44,800) | — | (1,211,173) | — |
| Change in fair value of SEPA liability | (646,443) | — | (906,950) | — |
| Change in fair value of claims settlement liability | 2,584,724 | — | 2,584,724 | — |
| Loss on issuance of warrants | (8,756,303) | — | (8,756,303) | — |
| Loss on issuance of notes payable | (443,466) | — | (1,917,562) | — |
| Loss on issuance of SEPA | — | — | (2,582,724) | — |
| Loss on extinguishment of accounts payable | (6,513,554) | — | (6,513,554) | — |
| Loss on extinguishment of notes payable (including $2,840,115, $521,193, $2,840,115 and $1,491,666 with related parties, respectively) | (3,265,002) | (1,303,969) | (10,138,337) | (11,597,803) |
| SEPA fees and issuance costs | (28,451) | — | (1,103,451) | |
| Gain on sale of intellectual property intangible assets | — | — | 8,961,872 | — |
| Loss on impairment of inventories, property and equipment and operating lease right-of-use asset | — | — | (6,064,823) | — |
| Interest expense recognized on remeasurement of preferred stock liability | — | — | (10,398,050) | — |
| Other gain (loss), net | (259,624) | — | (311,840) | 218,169 |
| Loss before provision for income taxes | (22,421,596) | (4,345,724) | (51,257,996) | (22,689,705) |
| Provision for income taxes | — | — | — | — |
| Net loss | (22,421,596) | (4,345,724) | (51,257,996) | (22,689,705) |
| Reclassification of convertible preferred stock from mezzanine equity to liability | — | — | 10,398,050 | — |
| Deemed dividend in connection with modification of pre-funded warrants | — | — | (3,076,380) | — |
| Net loss available to common shareholders | $(22,421,596) | $(4,345,724) | $(43,936,326) | $(22,689,705) |
| Net loss per common share, basic and diluted (1) | $(0.20) | $(1.11) | $(0.66) | $(10.41) |
| Weighted-average common shares used to compute net loss per common share, basic and diluted (1) | 109,741,345 | 3,924,580 | 66,097,880 | 2,178,902 |
(1)
Periods presented have been adjusted to reflect the 1-for-40 reverse stock split on July 23, 2024. See Note 2 for additional information.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.