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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 |
|---|---|---|---|
| Revenue | 1.97bn | 1.26bn | 689m |
| Cost of revenue | 1.80bn | 1.15bn | 626m |
| Gross profit | 166m | 115m | 63m |
| Research and development | 17m | 12m | 7m |
| Selling, general and administrative | 74m | 61m | 43m |
| Operating expenses | 175m | 140m | 89m |
| Operating income | −9m | −25m | −26m |
| Pre-tax income | −9m | −26m | — |
| Income tax | −740,000 | — | — |
| Net income | −8m | −27m | −28m |
| Earnings per share | −0.04 | −0.14 | −0.15 |
| Earnings per share, diluted | −0.04 | −0.14 | −0.15 |
| Weighted average shares | 220m | 191m | 178m |
| Weighted average shares, diluted | 220m | 191m | 178m |
| Metric | Aug 18, 2026 | Dec 31, 2025 | Dec 31, 2024 | Apr 30, 2024 | Dec 31, 2023 | May 31, 2023 | Dec 31, 2022 |
|---|---|---|---|---|---|---|---|
| Cash and equivalents | — | 33m | 23m | — | 15m | — | — |
| Short-term investments | — | 17m | 9m |
| Metric | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 |
|---|---|---|---|
| Operating cash flow | 66m | 49m | 19m |
| Depreciation and amortisation | 2m | 1m | 1m |
| Share-based compensation | 68m | 53m | 38m |
| Capital expenditure | 1m | 1m | 629,000 |
| Investing cash flow |
Amounts in USD unless stated otherwise. Sources: Nasdaq Trader, Yahoo Finance, U.S. Securities and Exchange Commission (EDGAR)
| — |
| — |
| — |
| — |
| Receivables | — | 20m | 14m | — | 6m | — | — |
| Current assets | — | 106m | 73m | — | 51m | — | — |
| Property, plant and equipment | — | 2m | 2m | — | 2m | — | — |
| Goodwill | — | 9m | 9m | — | 9m | — | 10m |
| Total assets | — | 127m | 87m | — | 65m | — | — |
| Current liabilities | — | 75m | 54m | — | 27m | — | — |
| Total liabilities | — | 75m | 54m | — | 27m | — | — |
| Equity | — | 52m | 32m | — | 37m | — | 29m |
| Shares outstanding | — | 210m | 202m | 189m | 183m | 180m | — |
| Shares issued | — | 210m | 203m | 189m | 184m | — | — |
| Treasury shares | — | 0 | 442,000 | — | 175,000 | — | 6m |
| −14m |
| 4m |
| −7m |
| Share buybacks | 39m | 36m | — |
| Financing cash flow | −40m | −33m | −3m |