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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 | Dec 31, 2022 |
|---|---|---|---|---|
| Revenue | 28m | 343,000 | 845,000 | 3m |
| Cost of revenue | 29m | 306,000 | 1m | 3m |
| Gross profit | −716,000 | 37,000 | −531,000 | −441,000 |
| Research and development | 44m | 2m | 35,000 | 35,000 |
| Selling, general and administrative | — | 7m | 3m | 5m |
| Operating expenses | 44m | 7m | 3m | 7m |
| Operating income | −45m | −7m | −4m | −7m |
| Pre-tax income | −79m | −11m | 124,000 | −6m |
| Income tax | — | — | 1,000 | 17,000 |
| Net income | −28m | −14m | −574,000 | −13m |
| Earnings per share | −19.26 | −1.22 | −0.09 | −1.71 |
| Earnings per share, diluted | −19.26 | −1.22 | −0.09 | −1.71 |
| Weighted average shares | 1m | 11m | 7m | 8m |
| Weighted average shares, diluted | 1m | 11m | 7m | 8m |
| Metric | Aug 19, 2026 | Aug 18, 2026 | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 |
|---|---|---|---|---|---|---|
| Cash and equivalents | — | — | 999,000 | 113,000 | 150,000 | 3m |
| Receivables | — | — | — | — | 19,000 |
| Metric | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 |
|---|---|---|---|---|
| Operating cash flow | 7m | 23m | −2m | 614,000 |
| Depreciation and amortisation | 9m | 29,000 | 963,000 | 808,000 |
| Share-based compensation | 932,000 | 518,000 | 5,000 | 60,000 |
| Capital expenditure |
Amounts in USD unless stated otherwise. Sources: Nasdaq Trader, Yahoo Finance, U.S. Securities and Exchange Commission (EDGAR)
| — |
| Current assets | — | — | 211m | 26m | 30m | — |
| Property, plant and equipment | — | — | 91m | 34m | 10m | — |
| Total assets | — | — | 312m | 60m | 72m | — |
| Current liabilities | — | — | 331,000 | 79m | 84m | — |
| Total liabilities | — | — | 331,000 | 82m | 93m | — |
| Equity | — | — | 312m | 11m | 12m | 13m |
| Shares outstanding | — | — | — | 14m | 4m | — |
| Shares issued | — | — | — | 16m | 5m | — |
| Treasury shares | — | — | 13,073 | 1m | 24,818 | — |
| — |
| 24m |
| — |
| — |
| Investing cash flow | −1m | −29m | — | — |
| Financing cash flow | 29m | 6m | −1m | 1m |