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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 | 118m | 65m |
| Selling, general and administrative | 49m | 39m |
| Operating expenses | 166m | 104m |
| Operating income | −166m | −104m |
| Interest expense | 5m | 2m |
| Net income | −184m | −109m |
| Earnings per share | −2.06 | −1.54 |
| Earnings per share, diluted | −2.06 | −1.54 |
| Weighted average shares | 89m | 70m |
| Weighted average shares, diluted | 89m | 70m |
| 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 | 263m | 258m | 20m | 33m | 83m | 274m | 295m | 243m |
| Short-term investments | 111m | 154m |
| Metric | Dec 31, 2025 | Dec 31, 2024 |
|---|---|---|
| Operating cash flow | −132m | −79m |
| Investing cash flow | −152m | 0 |
| Financing cash flow | 267m | 253m |
Amounts in USD unless stated otherwise. Sources: Nasdaq Trader, Yahoo Finance, U.S. Securities and Exchange Commission (EDGAR)
| 189m |
| 150m |
| 130m |
| 0 |
| — |
| — |
| Current assets | 381m | 419m | 216m | 189m | 222m | 282m | 299m | 248m |
| Goodwill | 20m | 20m | 20m | 20m | 20m | 20m | 20m | 20m |
| Total assets | 401m | 440m | 237m | 265m | 275m | 302m | 320m | 268m |
| Current liabilities | 81m | 67m | 65m | 38m | 30m | 39m | 33m | 42m |
| Total liabilities | 122m | 108m | 106m | 80m | 53m | 61m | 58m | 66m |
| Equity | 279m | 332m | 131m | 185m | 223m | 241m | 262m | 202m |
| Shares outstanding | 104m | 99m | 77m | 76m | 76m | 75m | 82m | 72m |
| Shares issued | 104m | 99m | 77m | 76m | 76m | 75m | 82m | 72m |