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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 | 413m | 56m | 380m | 236m |
| Cost of revenue | 367m | 289m | 220m | 139m |
| Gross profit | 46m | 117m | 160m | 97m |
| Research and development | 52m | 47m | 35m | 26m |
| Selling, general and administrative | 76m | 24m | 24m | 16m |
| Operating expenses | 150m | 12m | 80m | 53m |
| Operating income | −104m | 4m | 80m | 44m |
| Interest expense | 32,000 | — | — | 202,000 |
| Pre-tax income | −101m | 31m | 84m | 55m |
| Income tax | 96,000 | — | 21,000 | — |
| Net income | −94m | 20m | 70m | 53m |
| Earnings per share | −0.07 | 0.04 | 0.17 | 0.13 |
| Earnings per share, diluted | −0.07 | 0.04 | 0.15 | 0.11 |
| Weighted average shares | 1.25bn | 466m | 417m | 417m |
| Weighted average shares, diluted | 1.25bn | 516m | 466m | 466m |
| Metric | Aug 19, 2026 | Aug 18, 2026 | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
|---|---|---|---|---|---|---|---|
| Cash and equivalents | — | — | 64m | 93m | 75m | 55m | 52m |
| Short-term investments | — | — | 15m |
| Metric | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 |
|---|---|---|---|---|
| Operating cash flow | −25m | 26m | 57m | 34m |
| Depreciation and amortisation | 39m | 4m | 13m | 11m |
| Share-based compensation | 42m | 7,000 | 16,000 | 13,000 |
| Capital expenditure |
Amounts in USD unless stated otherwise. Sources: Nasdaq Trader, Yahoo Finance, U.S. Securities and Exchange Commission (EDGAR)
| 9m |
| 43m |
| — |
| — |
| Receivables | — | — | 27m | 7m | 14m | — | — |
| Inventory | — | — | 2m | 15,000 | 844,000 | — | — |
| Current assets | — | — | 121m | 22m | 148m | — | — |
| Property, plant and equipment | — | — | 2m | 2m | 1m | — | — |
| Total assets | — | — | 192m | 33m | 176m | — | — |
| Current liabilities | — | — | 79m | 10m | 50m | — | — |
| Short-term debt | — | — | 15m | — | — | — | — |
| Total liabilities | — | — | 82m | 79m | 56m | — | — |
| Equity | — | — | 84m | 132m | −143m | −205m | −254m |
| Shares outstanding | — | — | 1.42bn | 1.15bn | 417m | — | — |
| Shares issued | — | — | 1.42bn | 1.15bn | 417m | — | — |
| 784,000 |
| 158,000 |
| 476,000 |
| 688,000 |
| Investing cash flow | −24m | −30m | −31m | −24m |
| Financing cash flow | 19m | 22m | −6m | — |