EU: financial statements from SEC

Income statement

Metric	Dec 31, 2025	Dec 31, 2024
Revenue	43m	58m
Cost of revenue	33m	66m
Gross profit	10m	−7m
Selling, general and administrative	43m	27m
Operating expenses	75m	65m
Operating income	−66m	−72m
Pre-tax income	−64m	−74m
Income tax	−488,000	−6m
Net income	−57m	−61m
Earnings per share	−0.30	−0.34
Earnings per share, diluted	−0.30	−0.34
Weighted average shares	187m	182m
Weighted average shares, diluted	187m	182m

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	42m	52m	92m	27m	30m	40m	54m	63m
Short-term investments	—	—	—	—	—	24m	21m	16m
Receivables	5m	5m	—	—	—	0	—	—
Inventory	10m	5m	11m	10m	6m	21m	27m	27m
Current assets	134m	110m	129m	50m	54m	87m	96m	106m
Property, plant and equipment	41m	41m	37m	32m	29m	24m	19m	24m
Total assets	452m	430m	442m	359m	363m	393m	398m	408m
Current liabilities	12m	14m	9m	20m	18m	30m	27m	24m
Short-term debt	—	0	0	10m	10m	20m	21m	21m
Long-term debt	110m	110m	109m	—	—	0	—	—
Total liabilities	170m	172m	164m	64m	63m	74m	66m	63m
Equity	255m	229m	249m	295m	300m	286m	332m	345m
Shares outstanding	194m	187m	187m	187m	186m	186m	—	—
Shares issued	194m	187m	187m	187m	186m	186m	—	—

Metric	Dec 31, 2025	Dec 31, 2024
Operating cash flow	−25m	−45m
Depreciation and amortisation	5m	3m
Share-based compensation	4m	5m
Capital expenditure	20m	11m
Investing cash flow	−46m	−30m
Financing cash flow	85m	107m