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Company reports as filed with the U.S. Securities and Exchange Commission.
| Metric | Dec 31, 2025 | Dec 31, 2024 |
|---|---|---|
| Research and development | 59m | 27m |
| Selling, general and administrative | 80m | 26m |
| Operating expenses | 139m | 53m |
| Operating income | −139m | −53m |
| Pre-tax income | −110m | −73m |
| Income tax | −5m | 683,000 |
| Net income | −106m | −74m |
| Earnings per share | −0.72 | −0.74 |
| Earnings per share, diluted | −0.72 | −0.74 |
| Weighted average shares | 146m | 99m |
| Weighted average shares, diluted | 146m | 99m |
| 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 | 1.59bn | 788m | 410m | 227m | 90m | 97m | 92m | 106m |
| Short-term investments | — |
| Metric | Dec 31, 2025 | Dec 31, 2024 |
|---|---|---|
| Operating cash flow | −82m | −38m |
| Depreciation and amortisation | 522,000 | 268,000 |
| Share-based compensation | 42m | 12m |
| Capital expenditure | 33m | 352,000 |
| Investing cash flow | −490m | −176m |
| Financing cash flow | 1.26bn |
Amounts in USD unless stated otherwise. Sources: Nasdaq Trader, Yahoo Finance, U.S. Securities and Exchange Commission (EDGAR)
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| 130m |
| Current assets | 2.23bn | 1.25bn | 932m | 543m | 205m | 232m | 235m | 239m |
| Property, plant and equipment | 96m | 42m | 11m | 4m | 1m | 1m | 679,870 | 637,731 |
| Goodwill | 7m | 7m | 7m | 7m | 7m | 0 | — | — |
| Total assets | 2.70bn | 1.53bn | 1.25bn | 731m | 302m | 282m | 294m | 299m |
| Current liabilities | 37m | 26m | 14m | 8m | 6m | 5m | 5m | 5m |
| Total liabilities | 65m | 52m | 41m | 35m | 33m | 31m | 31m | 30m |
| Equity | 2.64bn | 1.48bn | 1.21bn | 696m | 269m | 251m | 263m | 269m |
| Shares outstanding | 174m | 161m | 156m | 148m | 139m | 138m | 122m | 122m |
| Shares issued | 174m | 161m | 156m | 148m | 139m | 138m | 122m | 122m |
| 301m |