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Company reports as filed with the U.S. Securities and Exchange Commission.
| Metric | Dec 31, 2025 | Dec 31, 2024 |
|---|---|---|
| Revenue | 300,000 | 0 |
| Cost of revenue | 300,000 | 0 |
| Research and development | 494m | 358m |
| Operating expenses | 730m | 510m |
| Operating income | −729m | −510m |
| Pre-tax income | −618m | −537m |
| Income tax | 300,000 | 200,000 |
| Net income | −618m | −537m |
| Earnings per share | −0.99 | −1.42 |
| Earnings per share, diluted | −0.99 | −1.42 |
| Weighted average shares | 624m | 377m |
| Weighted average shares, diluted | 624m | 377m |
| Metric | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 |
|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | 951m | 1.02bn | 596m | 1.72bn | 1.03bn | 835m | 508m | 367m |
| Current assets | 1.90bn | 2.08bn | 1.69bn |
| Metric | Dec 31, 2025 | Dec 31, 2024 |
|---|---|---|
| Operating cash flow | −433m | −369m |
| Depreciation and amortisation | 20m | 12m |
| Share-based compensation | 224m | 109m |
| Capital expenditure | 79m | 82m |
| Investing cash flow | −1.18bn | −82m |
| Financing cash flow | 1.80bn |
Amounts in USD unless stated otherwise. Sources: Nasdaq Trader, Yahoo Finance, U.S. Securities and Exchange Commission (EDGAR)
| 1.76bn |
| 1.07bn |
| 858m |
| 523m |
| 375m |
| Property, plant and equipment | 279m | 254m | 168m | 148m | 132m | 127m | 113m | 93m |
| Goodwill | 2m | 100,000 | — | — | — | 0 | — | — |
| Total assets | 2.32bn | 2.47bn | 1.90bn | 1.94bn | 1.21bn | 1.00bn | 652m | 484m |
| Current liabilities | 105m | 104m | 93m | 79m | 67m | 71m | 87m | 84m |
| Short-term debt | 1m | 800,000 | — | — | — | 0 | — | — |
| Long-term debt | 79m | 80m | — | — | — | 64m | — | — |
| Total liabilities | 243m | 263m | 245m | 257m | 203m | 249m | 184m | 150m |
| Equity | 2.08bn | 2.20bn | 1.65bn | 1.68bn | 1.01bn | 753m | 468m | 334m |
| Shares outstanding | 758m | 744m | — | — | — | 504m | — | — |
| Shares issued | 758m | 744m | — | — | — | 504m | — | — |
| 820m |