ECX: financial statements from SEC

Income statement

Metric	31/12/2025	31/12/2024	31/12/2023	31/12/2022
Revenue	848M	772M	662M	3.56B
Cost of revenue	687M	611M	484M	2.57B
Gross profit	161M	160M	179M	994M
Research and development	123M	175M	178M	1.33B
Selling, general and administrative	94M	108M	132M	1.31B
Operating expenses	216M	283M	309M	2.62B
Operating income	−55M	−123M	−130M	−1.63B
Interest expense	24M	19M	11M	45M
Pre-tax income	−68M	−138M	−144M	−1.58B
Income tax	1M	210,000	−525,000	29M
Net income	−66M	−130M	−133M	−1.56B
Earnings per share	−0.20	−0.39	−0.40	−8.02
Earnings per share, diluted	−0.20	−0.39	−0.40	−8.02
Weighted average shares	339M	337M	337M	239M
Weighted average shares, diluted	339M	337M	337M	239M

Metric	18/08/2026	31/12/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021
Cash and equivalents	—	87M	44M	80M	131M	989M
Inventory	—	62M	32M	161M	—	—
Current assets	—	483M	386M	3.33B	—	—
Property, plant and equipment	—	27M	22M	121M	—	—
Goodwill	—	4M	4M	0	—	—
Total assets	—	662M	514M	4.31B	—	—
Current liabilities	—	823M	699M	4.25B	—	—
Short-term debt	—	311M	185M	1.20B	—	—
Total liabilities	—	946M	752M	5.14B	—	—
Equity	—	−283M	−240M	−117M	−5M	−3.90B
Treasury shares	—	26M	5M	—	—	—

Metric	31/12/2025	31/12/2024	31/12/2023	31/12/2022
Operating cash flow	−94M	−60M	−172M	−461M
Depreciation and amortisation	20M	21M	12M	75M
Share-based compensation	13M	19M	25M	726M
Capital expenditure	12M	16M	9M	157M
Investing cash flow	−70M	−8M	87M	−313M
Financing cash flow	204M	36M	41M	658M