ARQ: financial statements from SEC

Income statement

Metric	Mar 31, 2026	Sep 30, 2025	Jun 30, 2025	Mar 31, 2025	Sep 30, 2024	Jun 30, 2024
Revenue	29m	35m	29m	27m	35m	25m
Cost of revenue	19m	25m	19m	17m	21m	17m
Research and development	982,000	3m	3m	874,000	787,000	929,000
Selling, general and administrative	7m	5m	6m	6m	8m	7m
Operating expenses	11m	11m	11m	9m	11m	10m
Operating income	−982,000	−839,000	−2m	662,000	2m	−1m
Pre-tax income	−842,000	−653,000	−2m	203,000	2m	−2m
Income tax	0	0	0	0	0	30,000
Net income	−842,000	−653,000	−2m	203,000	2m	−2m
Earnings per share	−0.02	−0.02	−0.05	0.00	0.04	−0.06
Earnings per share, diluted	−0.02	−0.02	−0.05	0.00	0.04	−0.06
Weighted average shares	42m	42m	42m	41m	36m	34m
Weighted average shares, diluted	42m	42m	42m	43m	37m	34m

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	5m	7m	7m	7m	6m	14m	57m	37m
Receivables	16m	15m	14m	16m	15m	15m	17m	16m
Inventory	20m	16m	16m	21m	22m	19m	18m	23m
Current assets	46m	44m	44m	51m	48m	52m	87m	71m
Total assets	232m	231m	278m	285m	284m	284m	280m	249m
Current liabilities	45m	42m	40m	46m	43m	45m	30m	27m
Total liabilities	64m	63m	61m	68m	65m	67m	62m	59m
Equity	168m	168m	217m	217m	218m	217m	218m	190m
Shares outstanding	43m	43m	43m	43m	42m	42m	42m	36m
Shares issued	47m	47m	47m	47m	47m	47m	47m	41m
Treasury shares	5m	5m	5m	5m	5m	5m	5m	5m

Metric	Mar 31, 2026	Sep 30, 2025	Jun 30, 2025	Mar 31, 2025	Sep 30, 2024	Jun 30, 2024
Operating cash flow	64,000	—	—	−6m	—	—
Depreciation and amortisation	3m	4m	2m	2m	3m	2m
Share-based compensation	891,000	—	—	736,000	—	—
Capital expenditure	740,000	—	—	4m	—	—
Investing cash flow	−754,000	—	—	−4m	—	—
Financing cash flow	2m	—	—	2m	—	—