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Company reports as filed with the U.S. Securities and Exchange Commission.
| Metric | Dec 31, 2025 | Dec 31, 2024 |
|---|---|---|
| Revenue | 17m | 18,000 |
| Cost of revenue | 7m | 89,000 |
| Gross profit | 10m | −71,000 |
| Research and development | — | 743,000 |
| Selling, general and administrative | 34m | 7m |
| Operating expenses | 43m | 5m |
| Operating income | −32m | −5m |
| Pre-tax income | −35m | −23m |
| Income tax | — | −2,000 |
| Net income | −33m | −42m |
| Earnings per share | −16.68 | −40.92 |
| Earnings per share, diluted | −16.68 | −40.92 |
| Weighted average shares | 2m | 1m |
| Weighted average shares, diluted | 2m | 1m |
| 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 | 33m | 32m | 36m | 41m | 24m | 31m | 263,000 | 53,000 |
| Short-term investments | — |
| Metric | Dec 31, 2025 | Dec 31, 2024 |
|---|---|---|
| Operating cash flow | −24m | −12m |
| Depreciation and amortisation | 6m | 1m |
| Share-based compensation | 2m | 1m |
| Capital expenditure | — | 4,000 |
| Investing cash flow | −55m | −54,000 |
| Financing cash flow | 80m |
Amounts in USD unless stated otherwise. Sources: Nasdaq Trader, Yahoo Finance, U.S. Securities and Exchange Commission (EDGAR)
| — |
| — |
| — |
| — |
| 4,000 |
| 4,000 |
| Receivables | 8m | 9m | 3m | 2m | 381,000 | 30,000 | 328,000 | 272,000 |
| Inventory | 3m | 4m | 5m | 2m | 738,000 | 500,000 | 18m | 18m |
| Current assets | 46m | 48m | 44m | 46m | 27m | 35m | 21m | 21m |
| Property, plant and equipment | — | — | — | — | — | 186,000 | 7m | 7m |
| Goodwill | 10m | 10m | 10m | 10m | 10m | 10m | — | — |
| Total assets | 128m | 107m | 115m | 69m | 46m | 54m | 39m | 39m |
| Current liabilities | 90m | 43m | 22m | 18m | 18m | 25m | 28m | 25m |
| Short-term debt | 9m | 4m | 621,000 | 621,000 | 615,000 | 522,000 | 525,000 | 582,000 |
| Long-term debt | — | 5m | 8m | — | — | 1,000 | — | — |
| Total liabilities | 91m | 94m | 103m | 49m | 19m | 26m | 33m | 31m |
| Equity | 37m | 13m | 12m | 21m | 27m | 28m | 5m | 8m |
| Shares outstanding | 2m | 2m | 2m | 2m | 2m | 2m | 1m | 14m |
| Shares issued | 2m | 2m | 2m | 2m | 2m | 2m | 1m | 14m |
| 42m |