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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 | 208m | 185m |
| Selling, general and administrative | 176m | 68m |
| Operating expenses | 385m | 252m |
| Operating income | −385m | −252m |
| Net income | −378m | −246m |
| Earnings per share | −3.29 | −2.47 |
| Earnings per share, diluted | −3.29 | −2.47 |
| Weighted average shares | 115m | 100m |
| Weighted average shares, diluted | 115m | 100m |
| 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 | 431m | 324m | 287m | 153m | 138m | 178m | 76m | 93m |
| Short-term investments | 49m | 44m |
| Metric | Dec 31, 2025 | Dec 31, 2024 |
|---|---|---|
| Operating cash flow | −300m | −201m |
| Depreciation and amortisation | 2m | 2m |
| Share-based compensation | 76m | 37m |
| Capital expenditure | 602,000 | 98,000 |
| Investing cash flow | 219m | −76m |
| Financing cash flow | 228m |
Amounts in USD unless stated otherwise. Sources: Nasdaq Trader, Yahoo Finance, U.S. Securities and Exchange Commission (EDGAR)
| 83m |
| 142m |
| 226m |
| 259m |
| 63m |
| 97m |
| Current assets | 515m | 385m | 391m | 319m | 385m | 451m | 153m | 199m |
| Property, plant and equipment | 1m | 2m | 2m | 2m | 3m | 3m | 3m | 4m |
| Total assets | 535m | 404m | 412m | 340m | 408m | 475m | 179m | 227m |
| Current liabilities | 60m | 55m | 62m | 50m | 38m | 47m | 39m | 33m |
| Short-term debt | — | — | — | — | — | — | — | 2m |
| Long-term debt | 197m | 100m | 100m | 50m | 50m | 50m | 50m | 48m |
| Total liabilities | 259m | 159m | 167m | 107m | 95m | 106m | 100m | 93m |
| Equity | 276m | 245m | 245m | 233m | 312m | 369m | 79m | 134m |
| Shares outstanding | 119m | 108m | 99m | 96m | 95m | 94m | 80m | 80m |
| Shares issued | 119m | 108m | 99m | 96m | 95m | 94m | 80m | 80m |
| 353m |