BW: financial statements from SEC

Income statement

Metric	31/12/2025	31/12/2024
Revenue	588M	581M
Cost of revenue	444M	454M
Selling, general and administrative	119M	125M
Operating expenses	567M	587M
Operating income	21M	−6M
Pre-tax income	−25M	−91M
Income tax	8M	13M
Net income	−36M	−60M
Earnings per share	−0.48	−0.82
Earnings per share, diluted	−0.48	−0.82
Weighted average shares	105M	92M
Weighted average shares, diluted	105M	92M

Metric	31/03/2026	31/12/2025	30/09/2025	30/06/2025	31/03/2025	31/12/2024	30/09/2024	30/06/2024
Cash and equivalents	107M	89M	25M	23M	23M	27M	31M	95M
Receivables	126M	118M	102M	98M	128M	92M	90M	98M
Inventory	61M	61M	65M	66M	111M	58M	117M	110M
Current assets	491M	471M	480M	527M	483M	553M	530M	575M
Goodwill	53M	53M	53M	53M	82M	51M	85M	84M
Total assets	758M	663M	658M	703M	720M	727M	805M	849M
Current liabilities	495M	387M	401M	529M	511M	407M	298M	334M
Total liabilities	930M	794M	890M	1.01B	1.02B	1.01B	1.01B	1.05B
Equity	−172M	−132M	−232M	−309M	−303M	−284M	−203M	−198M
Shares outstanding	136M	130M	111M	99M	98M	95M	92M	92M
Shares issued	136M	130M	—	—	98M	95M	—	—
Treasury shares	3M	3M	3M	2M	2M	2M	2M	2M

Metric	31/12/2025	31/12/2024
Operating cash flow	−69M	−119M
Depreciation and amortisation	10M	17M
Capital expenditure	17M	11M
Investing cash flow	197M	110M
Share buybacks	386,000	336,000
Financing cash flow	−59M	70M