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Company reports as filed with the U.S. Securities and Exchange Commission.
| Metric | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 |
|---|---|---|---|---|
| Revenue | 418m | 456m | 117m | 44m |
| Cost of revenue | 161m | 176m | 42m | 15m |
| Gross profit | 257m | 38m | 75m | 29m |
| Research and development | 195m | 27m | 167m | 135m |
| Selling, general and administrative | 270m | 32m | 150m | 151m |
| Operating expenses | 586m | 564m | 378m | 339m |
| Operating income | −317m | −35m | −296m | −304m |
| Pre-tax income | −276m | −225m | −301m | −329m |
| Income tax | −4m | 53,000 | 206,000 | 79,000 |
| Net income | −276m | −230m | −302m | −328m |
| Earnings per share | −1.88 | −1.71 | −2.48 | −2.86 |
| Earnings per share, diluted | −1.88 | −0.23 | −2.48 | −2.86 |
| Weighted average shares | 146,665 | 134,367 | 121,494 | 114,695 |
| Weighted average shares, diluted | 146,665 | 134,367 | 121,494 | 114,695 |
| Metric | Aug 19, 2026 | Aug 18, 2026 | Dec 31, 2025 | Nov 30, 2025 | Dec 31, 2024 | Dec 31, 2023 | Oct 31, 2023 | Dec 31, 2022 |
|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | — | — | 256m | — | 611m | 228m | — | 249m |
| Short-term investments |
| Metric | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 |
|---|---|---|---|---|
| Operating cash flow | −180m | 158m | −88m | −173m |
| Depreciation and amortisation | 19m | 2m | 12m | 8m |
| Share-based compensation | 246m | 273m | 151m | 97m |
| Capital expenditure |
Amounts in USD unless stated otherwise. Sources: Nasdaq Trader, Yahoo Finance, U.S. Securities and Exchange Commission (EDGAR)
| — |
| 843m |
| — |
| 514m |
| 57m |
| — |
| — |
| Receivables | — | — | 112m | — | 58m | 35m | — | — |
| Inventory | — | — | 102m | — | 10m | 59m | — | — |
| Current assets | — | — | 1.48bn | — | 1.36bn | 453m | — | — |
| Property, plant and equipment | — | — | 258m | — | 60m | 45m | — | — |
| Total assets | — | — | 1.99bn | — | 1.58bn | 599m | — | — |
| Current liabilities | — | — | 716m | — | 470m | 250m | — | — |
| Long-term debt | — | — | 83m | — | 3m | 9m | — | — |
| Total liabilities | — | — | 923m | — | 629m | 384m | — | — |
| Equity | — | — | 1.07bn | — | 131m | 214m | — | 125m |
| Shares outstanding | — | — | — | — | 11m | 778,890 | 236,000 | — |
| Shares issued | — | — | — | 1m | 11m | 778,890 | 236,000 | — |
| 148m |
| 5m |
| 8m |
| 12m |
| Investing cash flow | −507m | −483m | −129m | 56m |
| Financing cash flow | 337m | 701m | 195m | 107m |