Nuburu, Inc.

Listed Company

BURUCIK 0001814215NYSENon-AcceleratedSmaller ReportingMiscellaneous Electrical Machinery, Equipment & SuppliesDelawareFY ends Dec 31

Period

FY 2025

Revenue

Net Income

$-79.07M

Total Assets

—

Equity

—

Shares Out

179.02M

Op. Cash Flow

$-16.09M

Business

Nuburu, Inc. develops high-power, high-brightness blue laser technology and, after foreclosure of its patent portfolio, focuses on licensing, joint development and strategic acquisitions. It offers modular BLTM and legacy AO blue laser systems for welding and additive manufacturing, plus licensing and development services for defense and industrial customers. Key activities include laser R&D and product development, licensing and joint development, and planned acquisitions in defense, SaaS and fintech. Nuburu serves customers in EV batteries, medical devices, displays and mobile components via direct sales, partnerships and outsourced manufacturing worldwide.

Summary from filing dated 2025-04-15

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenue	0	152,127	2	1	—
Cost of revenue	181,373	2	6	5	—
Gross margin	−181,373	−2	−4	−3	—
Research and development	174,559	2	5	5	—
Selling and marketing	5	468,074	2	708,144	—
General and administrative	13	9	11	5	—
Total operating expenses	18	11	18	11	—
Loss from operations	−18	−13	−22	−14	−6
Interest income	10,456	17,166	117,372	43,976	120,063
Interest expense (including $103,299 and nil with related parties, respectively)	−472,381	−3	−864,535	−175,288	—
Equity in losses of unconsolidated affiliates (related party)	−30,175	0	—	—	—
Change in fair value of warrant liabilities	−14	2	2	12	23
Change in fair value of derivative liability	37,900	141,100	0	—	—
Change in fair value of convertible note receivable (related party)	−3	0	—	—	—
Change in fair value of notes payable (including $847,646 and nil with related parties, respectively)	−4	0	—	—	—
Change in fair value of SEPA liability	682,276	0	—	—	—
Change in fair value of claims settlement liability	3	0	—	—	—
Loss on issuance of warrants	−9	0	—	—	—
Loss on issuance of notes payable	−4	0	—	—	—
Loss on issuance of SEPA	−3	0	—	—	—
Loss on extinguishment of accounts payable (including $290,676 and nil with related parties, respectively)	−5	0	—	—	—
Loss on extinguishment of notes payable (including $2,840,115 and $1,491,666 with related parties, respectively)	−10	−21	0	—	—
Loss on settlement of claims liability, net	−395,379	0	—	—	—
Loss on fraudulently induced wire transfer	−1	0	—	—	—
SEPA fees and issuance costs	−2	0	—	—	—
Gain on sale of intellectual property intangible assets	9	0	—	—	—
Loss on impairment of inventories, property and equipment and operating lease right-of-use asset	−6	0	—	—	—
Interest expense recognized on remeasurement of preferred stock liability	−10	0	—	—	—
Other gain (loss), net	−1	218,169	0	0	23
Loss before provision for income taxes	−79	−35	−21	−14	18
Provision for income taxes	0	0	0	0	—
Net loss	−79	−35	−21	−14	18
Reclassification of convertible preferred stock from mezzanine equity to liability	10	0	—	—	—
Deemed dividend in connection with modification of pre-funded warrants	−3	0	—	—	—
Net loss available to common shareholders	−72	−35	—	—	—
Net loss per common share, basic	−2.25	−29.51	−0.63	−2.59	—
Net loss per common share, diluted	−2.25	−29.51	−0.63	−2.59	—
Weighted-average common shares used to compute net loss per common share, basic	32	1	33	5	—
Weighted-average common shares used to compute net loss per common share, diluted	32	1	33	5	—

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2024 2024-09-30	FY 2024 2024-06-30	FY 2024 2024-03-31
Cash and cash equivalents	25	209,337	—	—	—
Restricted cash	875,141	0	—	—	—
Subscription for Orbit shares (related party)	12	—	—	—	—
Inventories, net of reserve of nil and $1,161,469 at December 31, 2025 and 2024, respectively	—	2	—	—	—
Advance on Tekne Convertible Receivable	1	—	—	—	—
Prepaid expenses and other current assets (including $233,498 and nil with related parties, respectively)	2	162,749	—	—	—
Total current assets	46	2	—	—	—
Property and equipment, net	—	5	—	—	—
Operating lease right-of-use assets	—	202,411	—	—	—
Other assets	—	34,359	—	—	—
Total Assets	50	7	—	—	—
Accounts payable	2	6	—	—	—
Accrued expenses	3	4	4	4	3
Current portion of notes payable (including nil and $8,130,638 with related parties, respectively)	26	9	—	—	—
Shareholder advances	99,936	644,936	—	—	—
Claims settlement liability	5,575	—	—	—	—
Current portion of operating lease liability	—	237,369	—	—	—
Contract liabilities	0	24,000	—	—	—
Convertible note derivative liability	—	37,900	—	—	—
Preferred stock liability	22	—	—	—	—
Total current liabilities	61	21	15	13	12
SEPA liability	3	—	—	—	—
Warrant liabilities	397,401	128,615	—	—	—
TOTAL LIABILITIES	65	21	20	19	22
Commitments and Contingencies (Note 7)	—	—	—	—	—
Convertible preferred stock, $0.0001 par value; 50,000,000 shares authorized; 2,188,905 and 2,388,905 shares issued and outstanding at December 31, 2025 and 2024	0	24	—	—	—
Common Stock, $0.0001 par value; 900,000,000 shares authorized; 92,816,561 and 4,062,974 shares issued and outstanding at December 31, 2025 and 2024, respectively	9,282	406	—	—	—
Additional paid-in capital	185	94	—	—	—
Accumulated deficit	−200	−132	−120	−116	−103
Total Stockholders' Deficit	−15	−38	−36	−35	−37
Total liabilities and stockholders' deficit	50	7	—	—	—

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net loss	−79	−35	−21	−14	18
Depreciation and amortization	446,449	790,529	505,898	450,505	—
Stock-based compensation	2	2	2	2	—
Inventory reserve adjustments	—	28,012	840,467	−258,116	—
Amortization of debt discount	—	2	416,636	—	—
Amortization of deferred financing costs	28,433	590,740	105,924	—	—
Debt issuance costs expensed under fair value option	2	—	—	—	—
Interest expense recognized on preferred obligation related to Orbit Transaction (related party)	103,299	—	—	—	—
Settlement of transaction costs through reduction of receivable	150,000	—	—	—	—
Operating lease right-of-use asset	—	383,753	319,426	292,932	—
Change in fair value of warrant liabilities	14	−2	−2	−12	−23
Change in fair value of SEPA liability	−682,276	—	—	—	—
Loss on issuance of notes payable	4	—	—	—	—
Loss on issuance of SEPA	3	—	—	—	—
SEPA fees and issuance costs	2	—	—	—	—
Loss on impairment of inventories, property and equipment and operating lease right-of-use asset	6	—	—	—	—
Interest expense recognized on remeasurement of preferred stock liability	10	—	—	—	—
Accounts receivable	—	482,279	−155,079	−103,925	—
Inventories	—	−203,494	−2	−199,429	—
Prepaid expenses and other current assets	−573,641	−6,494	−268,118	23,336	—
Accounts payable	2	2	3	628,702	—
Accrued expenses	−227,016	2	116,001	1	—
Contract liabilities	−12,000	−6,400	−148,350	5,700	—
Operating lease liability	−237,369	−355,385	−388,141	−314,111	—
Net cash used in operating activities	−16	−7	−18	−10	−2
Payments for acquisitions and investments (related party)	−5	—	−1	−536,038	—
Payment related to SYME inventory advance (related party)	−6	—	—	—	—
Payments under convertible note receivable (related party)	−5	—	—	—	—
Advance on Tekne Convertible Receivable	−1	—	—	—	—
Net cash used in investing activities	−17	—	−1	−536,038	—
Proceeds from note borrowings	30	2	—	—	—
Repayments of notes payable	−3	—	—	—	—
Proceeds received from the 2025 Offering	12	—	—	—	—
Proceeds received from the SEPA	22	—	—	—	—
Payments of debt and equity issuance costs	−4	—	—	—	—
Proceeds received from settlement	1	—	—	—	—
Restricted stock units withheld for tax withholdings	−129	−73,204	−33,903	—	—
Proceeds from issuance of common stock	—	200,000	—	—	—
Shareholder advances	—	644,936	—	—	—
Proceeds from the issuance of pre-funded warrants	—	2	—	—	—
Payment of deferred financing costs	—	−71,500	−259,899	—	—
Net cash provided by financing activities	58	5	18	8	−17,000
NET CHANGE IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH DURING THE PERIOD	25	−2	−731,554	−3	−2
Cash paid for interest	848,066	—	—	—	—
Issuance of Common Stock upon exercise of warrants	34	—	—	—	—
Issuance of Common Stock upon extinguishment or conversion of notes payable	27	25	—	—	—
Issuance of Common Stock in connection with the SEPA	22	—	—	—	—
Issuance of preferred obligation related to Orbit Transaction	8	—	—	—	—
Issuance of Common Stock in connection with Silverback Claims Settlement	7	—	—	—	—
Derecognition of accounts payable in connection with recognition of claims settlement liability	3	—	—	—	—
Extinguishment of existing unsecured promissory note and accrued interest through issuance of convertible note	2	—	—	—	—
Extinguishment of Preferred Stock through issuance of convertible notes	2	—	—	—	—
Reduction of related party receivable for non-cash consideration related to the Orbit Transaction	1	—	—	—	—
Transaction costs related to the reverse recapitalization not yet paid	1	1	1	—	—
Shares issued for services included in prepaid expenses	601,415	—	—	—	—
Debt issuance costs included in accounts payable and accrued expenses	—	712,363	—	—	—
Issuance of promissory note for replacement of shareholder advance	545,000	—	—	—	—
Issuance of AZ Promissory Note for related party receivable	900,000	—	—	—	—
Stock-based compensation expense included in accrued expenses	25,000	—	—	—	—
Settlement of transaction costs through reduction of receivable	150,000	—	—	—	—
Initial fair value of convertible note receivable over proceeds paid	110,000	—	—	—	—
Deemed dividend in connection with modification of pre-funded warrants	936	—	—	—	—
Transfer of property and equipment from inventory	—	154,971	430,666	—	—
Purchase of property and equipment in accounts payable and accrued expenses	—	431,970	540,028	—	—

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