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Company reports as filed with the U.S. Securities and Exchange Commission.
| Metric | Dec 31, 2025 | Dec 31, 2024 |
|---|---|---|
| Revenue | 606m | 364m |
| Cost of revenue | 123m | 86m |
| Research and development | 771m | 598m |
| Selling, general and administrative | 701m | 461m |
| Operating expenses | 1.85bn | 1.24bn |
| Operating income | −1.25bn | −878m |
| Pre-tax income | −1.27bn | −910m |
| Income tax | 5m | 4m |
| Net income | −1.28bn | −914m |
| Earnings per share | −6.42 | −5.57 |
| Earnings per share, diluted | −6.42 | −5.57 |
| Weighted average shares | 199m | 164m |
| Weighted average shares, diluted | 199m | 164m |
| 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 | 582m | 510m | 335m | 1.28bn | 403m | 555m | 461m | 1.25bn |
| Short-term investments | 641m | 920m |
| Metric | Dec 31, 2025 | Dec 31, 2024 |
|---|---|---|
| Operating cash flow | −935m | −684m |
| Depreciation and amortisation | 10m | 6m |
| Share-based compensation | 153m | 97m |
| Capital expenditure | 33m | 22m |
| Investing cash flow | −65m | −583m |
| Financing cash flow | 954m |
Amounts in USD unless stated otherwise. Sources: Nasdaq Trader, Yahoo Finance, U.S. Securities and Exchange Commission (EDGAR)
| 1.35bn |
| 572m |
| 796m |
| 879m |
| 1.01bn |
| 0 |
| Receivables | 179m | 141m | 65m | 55m | 48m | 52m | 42m | 40m |
| Inventory | 133m | 132m | 121m | 108m | 101m | 99m | 98m | 90m |
| Current assets | 1.61bn | 1.79bn | 1.93bn | 2.08bn | 1.40bn | 1.62bn | 1.65bn | 1.42bn |
| Property, plant and equipment | 103m | 103m | 90m | 90m | 88m | 80m | 75m | 73m |
| Goodwill | 136m | 136m | 136m | 136m | 136m | 136m | 136m | 136m |
| Total assets | 2.08bn | 2.26bn | 2.36bn | 2.48bn | 1.80bn | 2.03bn | 2.05bn | 1.81bn |
| Current liabilities | 361m | 469m | 417m | 312m | 239m | 298m | 259m | 524m |
| Short-term debt | — | — | — | — | — | — | — | 224m |
| Long-term debt | 542m | 541m | 540m | 539m | 1.11bn | 1.10bn | 955m | 947m |
| Total liabilities | 1.37bn | 1.53bn | 1.42bn | 1.23bn | 1.70bn | 1.74bn | 1.57bn | 1.77bn |
| Equity | 705m | 739m | 946m | 1.25bn | 99m | 285m | 483m | 39m |
| Shares outstanding | 217m | 214m | 213m | 211m | 182m | 179m | 179m | 167m |
| Shares issued | 217m | 214m | 213m | 211m | 182m | 179m | 179m | 167m |
| 1.34bn |