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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 | 247,000 | 1m | 764,000 | 377,000 |
| Cost of revenue | 3m | 2m | 2m | 178,000 |
| Gross profit | −3m | −486,000 | −1m | −178,000 |
| Research and development | 4m | 5m | 5m | 4m |
| Selling, general and administrative | 15m | 4m | 3m | 2m |
| Operating income | −53m | −11m | −12m | −8m |
| Interest expense | 160,000 | 171,000 | — | — |
| Net income | −56m | −11m | −12m | −8m |
| Earnings per share | −0.94 | −1.09 | −1.99 | −1.51 |
| Earnings per share, diluted | −0.94 | −1.09 | −1.99 | −1.51 |
| Weighted average shares | 59,291 | 10,070 | 5,912 | 5m |
| Weighted average shares, diluted | 59,291 | 10,070 | 5,912 | 5m |
| Metric | Aug 18, 2026 | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
|---|---|---|---|---|---|---|
| Cash and equivalents | — | 27m | 8m | — | — | — |
| Inventory | — | — | 2m | 3m |
| Metric | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 |
|---|---|---|---|---|
| Operating cash flow | −14m | −10m | −12m | −11m |
| Depreciation and amortisation | 364,000 | 374,000 | 239,000 | 131,000 |
| Share-based compensation | 7m | 369,000 | −219,000 | −2m |
| Capital expenditure |
Amounts in USD unless stated otherwise. Sources: Nasdaq Trader, Yahoo Finance, U.S. Securities and Exchange Commission (EDGAR)
| — |
| Current assets | — | 29m | 11m | 10m | — | — |
| Property, plant and equipment | — | 289,000 | 927,000 | 2m | — | — |
| Total assets | — | 123m | 13m | 13m | — | — |
| Current liabilities | — | 3m | 5m | 3m | — | — |
| Total liabilities | — | 3m | 6m | 4m | — | — |
| Equity | — | 119m | 7m | 9m | 21m | 3m |
| Shares outstanding | — | 162m | 12m | 6m | — | — |
| Shares issued | — | 162m | 12m | 6m | — | — |
| 93,000 |
| 67,000 |
| 1m |
| 500,000 |
| Investing cash flow | −122m | 159,000 | −1m | −500,000 |
| Financing cash flow | 155m | 11m | — | 28m |