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Company reports as filed with the U.S. Securities and Exchange Commission.
| Metric | Dec 31, 2025 | Dec 31, 2024 |
|---|---|---|
| Revenue | 588m | 390m |
| Cost of revenue | 120m | 91m |
| Gross profit | 468m | 300m |
| Research and development | 368m | 101m |
| Selling, general and administrative | 330m | 64m |
| Operating expenses | 1.01bn | 332m |
| Operating income | −546m | −32m |
| Pre-tax income | −527m | −11m |
| Income tax | 998,000 | 677,000 |
| Net income | −528m | −12m |
| Earnings per share | −7.77 | −0.88 |
| Earnings per share, diluted | −7.77 | −0.88 |
| Weighted average shares | 55m | 14m |
| Weighted average shares, diluted | 55m | 14m |
| 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 | 187m | 208m | 261m | 237m | 288m | 301m | 268m | 237m |
| Short-term investments | — |
| Metric | Dec 31, 2025 | Dec 31, 2024 |
|---|---|---|
| Operating cash flow | 171m | 49m |
| Depreciation and amortisation | 5m | 6m |
| Share-based compensation | 643m | 739,000 |
| Capital expenditure | 708,000 | 1m |
| Investing cash flow | −114m | 18m |
| Share buybacks | 65m |
Amounts in USD unless stated otherwise. Sources: Nasdaq Trader, Yahoo Finance, U.S. Securities and Exchange Commission (EDGAR)
| 219m |
| 176m |
| — |
| 166m |
| — |
| — |
| Receivables | 115m | 66m | 87m | 99m | — | 42m | — | — |
| Inventory | 14m | 16m | 14m | 14m | — | 11m | — | — |
| Current assets | 540m | 534m | 659m | 598m | — | 583m | — | — |
| Property, plant and equipment | 11m | 10m | 8m | 8m | — | 7m | — | — |
| Goodwill | 64m | 64m | 64m | 64m | — | 62m | — | — |
| Total assets | 729m | 745m | 770m | 694m | — | 673m | — | — |
| Current liabilities | 414m | 362m | 357m | 314m | — | 249m | — | — |
| Total liabilities | 417m | 366m | 362m | 320m | — | 257m | — | — |
| Equity | 112m | 179m | 208m | 174m | −308m | −435m | −462m | −463m |
| Shares outstanding | — | 0 | 0 | 0 | — | 16m | — | — |
| Shares issued | — | 0 | 0 | 0 | — | 16m | — | — |
| 0 |
| Financing cash flow | −150m | −2m |