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Company reports as filed with the U.S. Securities and Exchange Commission.
| Metric | Dec 31, 2025 | Dec 31, 2024 |
|---|---|---|
| Revenue | 2m | 0 |
| Cost of revenue | 1m | 0 |
| Gross profit | 195,000 | 0 |
| Research and development | 16m | 6m |
| Selling, general and administrative | 43m | 9m |
| Operating income | −60m | −16m |
| Pre-tax income | −299m | −16m |
| Income tax | −160,000 | 0 |
| Net income | −298m | −16m |
| Earnings per share | −3.31 | −0.40 |
| Earnings per share, diluted | −3.31 | −0.40 |
| Weighted average shares | 98m | 60m |
| Weighted average shares, diluted | 98m | 60m |
| Metric | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Aug 31, 2024 |
|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | 1.75bn | 360m | 258m | 122m | 23m | 17m | 23m | — |
| Receivables | 6m | 4m |
| Metric | Dec 31, 2025 | Dec 31, 2024 |
|---|---|---|
| Operating cash flow | −49m | −13m |
| Depreciation and amortisation | 573,000 | 235,000 |
| Share-based compensation | 9m | 2m |
| Capital expenditure | 37m | 3m |
| Investing cash flow | −140m | −3m |
| Share buybacks |
Amounts in USD unless stated otherwise. Sources: Nasdaq Trader, Yahoo Finance, U.S. Securities and Exchange Commission (EDGAR)
| — |
| — |
| — |
| 0 |
| — |
| — |
| Inventory | 28m | 19m | — | — | — | 0 | — | — |
| Current assets | 1.79bn | 385m | 259m | 124m | 26m | 22m | 222,948 | — |
| Property, plant and equipment | — | — | — | — | 30m | 27m | — | — |
| Goodwill | 135m | 135m | — | — | — | 0 | — | — |
| Total assets | 2.13bn | 695m | 323m | 180m | 77m | 69m | 269m | — |
| Current liabilities | 49m | 38m | 16m | 8m | 7m | 7m | 3m | — |
| Total liabilities | 246m | 192m | 369m | 286m | 97m | 15m | 16m | — |
| Equity | 1.88bn | 494m | −59m | −132m | −53m | 34m | 40m | — |
| Shares outstanding | 218m | 148m | 114m | 96m | 82m | 60m | — | 82m |
| Shares issued | — | 148m | — | — | 82m | 60m | — | — |
| 247m |
| Financing cash flow | 532m | 20m |