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Company reports as filed with the U.S. Securities and Exchange Commission.
| Metric | Dec 31, 2025 | Dec 31, 2024 |
|---|---|---|
| Revenue | 24m | 4m |
| Cost of revenue | 20m | 3m |
| Gross profit | 3m | 2m |
| Research and development | 12m | 3m |
| Selling, general and administrative | 48m | 25m |
| Operating expenses | 63m | 28m |
| Operating income | −60m | −26m |
| Pre-tax income | −160m | −32m |
| Income tax | 282,000 | 111,449 |
| Net income | −160m | −32m |
| Earnings per share | −2.11 | −0.63 |
| Earnings per share, diluted | −2.11 | −0.63 |
| Weighted average shares | 83m | 56m |
| Weighted average shares, diluted | 83m | 56m |
| 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 | 207m | 280m | 114m | 68m | 56m | 62m | 52m | — |
| Short-term investments | 83m | 48m |
| Metric | Dec 31, 2025 | Dec 31, 2024 |
|---|---|---|
| Operating cash flow | −38m | −17m |
| Depreciation and amortisation | 2m | 471,421 |
| Share-based compensation | 16m | 9m |
| Capital expenditure | 10m | 10m |
| Investing cash flow | −111m | −11m |
| Dividends paid | 0 |
Amounts in USD unless stated otherwise. Sources: Nasdaq Trader, Yahoo Finance, U.S. Securities and Exchange Commission (EDGAR)
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| Receivables | 2m | 1m | 17m | 649,476 | 692,243 | 706,925 | 560,429 | — |
| Inventory | 1m | 1m | 1m | 1m | 342,688 | 65,655 | 84,851 | — |
| Current assets | 309m | 400m | 174m | 102m | 59m | 66m | 56m | — |
| Property, plant and equipment | 92m | 33m | 31m | 28m | 25m | 22m | 23m | — |
| Goodwill | 6m | 5m | 7m | 3m | 3m | 3m | 3m | — |
| Total assets | 588m | 498m | 226m | 136m | 91m | 94m | 84m | — |
| Current liabilities | 70m | 33m | 28m | 7m | 8m | 7m | 7m | — |
| Short-term debt | 53m | 584,000 | 12m | — | — | 939,110 | — | — |
| Total liabilities | 289m | 235m | 129m | 108m | 45m | 43m | 42m | — |
| Equity | 289m | 204m | 74m | 28m | 46m | 48m | 42m | — |
| Shares outstanding | 126m | 112m | 93m | 84m | 72m | 72m | 68m | 163,632 |
| Shares issued | 126m | 112m | 93m | 84m | 72m | 72m | 68m | 163,632 |
| 3m |
| Financing cash flow | 372m | 83m |