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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 | 13m | 11m | 10m | 9m |
| Cost of revenue | 26m | 22m | 16m | 15m |
| Gross profit | −13m | −11m | −7m | −7m |
| Research and development | 19m | 20m | 26m | 27m |
| Selling, general and administrative | 22m | 22m | 24m | 41m |
| Operating expenses | 65m | 46m | 56m | 111m |
| Operating income | −78m | −57m | −63m | −118m |
| Pre-tax income | −77m | −54m | −61m | −117m |
| Income tax | −2m | −358,000 | −339,000 | −4m |
| Net income | −75m | −54m | −61m | −113m |
| Earnings per share | −1.16 | −0.91 | −1.08 | −2.17 |
| Earnings per share, diluted | −1.16 | −0.91 | −1.08 | −2.17 |
| Weighted average shares | 64,790 | 59m | 56m | 52m |
| Weighted average shares, diluted | 64,790 | 59m | 56m | 52m |
| 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 | — | — | 49m | 39m | 56m | — | — |
| Short-term investments | — | — | — | 18m | 26m | — | — |
| Receivables | — | — | 367,000 | 112,000 | 55,000 | — | — |
| Inventory | — | — | 3m | 1m | 2m | — | — |
| Current assets | — | — | 67m | 79m | 89m | — | — |
| Property, plant and equipment | — | — | 30m | 45m | 42m | — | — |
| Goodwill | — | — | 316,000 | — | — | 7m | — |
| Total assets | — | — | 162m | 210m | 219m | 254m | — |
| Current liabilities | — | — | 17m | 14m | 16m | — | — |
| Short-term debt | — | — | 3m | 3m | 3m | — | — |
| Total liabilities | — | — | 22m | 21m | 23m | — | — |
| Equity | — | — | 140m | 189m | 196m | 217m | 292m |
| Shares outstanding | — | — | — | 64m | 58m | — | — |
| Shares issued | — | — | 70m | 64m | 58m | — | — |
| Metric | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 |
|---|---|---|---|---|
| Operating cash flow | −41m | −37m | −45m | −43m |
| Depreciation and amortisation | 1m | 1m | 1m | 905,000 |
| Share-based compensation | 4m | 7m | 7m | 19m |
| Capital expenditure | 4m | 3m | 3m | 7m |
| Investing cash flow | 29m | −20m | 35m | 15m |
| Financing cash flow | 21m | 40m | 27m | 804,000 |
Amounts in USD unless stated otherwise. Sources: Nasdaq Trader, Yahoo Finance, U.S. Securities and Exchange Commission (EDGAR)