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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 | 794m | 477m |
| Selling, general and administrative | 129m | 93m |
| Operating expenses | 924m | 570m |
| Operating income | −924m | −570m |
| Net income | −767m | −464m |
| Earnings per share | −5.63 | −3.80 |
| Earnings per share, diluted | −5.63 | −3.80 |
| Weighted average shares | 136m | 122m |
| Weighted average shares, diluted | 136m | 122m |
| 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 | 261m | 174m | 281m | 307m | 347m | 388m | 1.05bn | 519m |
| Short-term investments | 1.48bn | 1.39bn |
| Metric | Dec 31, 2025 | Dec 31, 2024 |
|---|---|---|
| Operating cash flow | −656m | −453m |
| Depreciation and amortisation | 16m | 7m |
| Share-based compensation | 139m | 85m |
| Capital expenditure | 14m | 22m |
| Investing cash flow | 437m | −2.01bn |
| Financing cash flow | 2m |
Amounts in USD unless stated otherwise. Sources: Nasdaq Trader, Yahoo Finance, U.S. Securities and Exchange Commission (EDGAR)
| 1.43bn |
| 1.35bn |
| 1.32bn |
| 1.36bn |
| 1.13bn |
| 934m |
| Current assets | 1.81bn | 1.63bn | 1.77bn | 1.72bn | 1.72bn | 1.79bn | 2.21bn | 1.48bn |
| Property, plant and equipment | 261m | 257m | 253m | 242m | 217m | 198m | 163m | 126m |
| Total assets | 3.35bn | 3.00bn | 3.17bn | 3.31bn | 3.38bn | 3.51bn | 3.56bn | 2.09bn |
| Current liabilities | 242m | 206m | 200m | 154m | 97m | 140m | 124m | 83m |
| Total liabilities | 352m | 317m | 279m | 234m | 178m | 205m | 142m | 101m |
| Equity | 3.00bn | 2.69bn | 2.89bn | 3.07bn | 3.20bn | 3.31bn | 3.42bn | 1.99bn |
| Shares outstanding | 144m | 131m | 130m | 130m | 129m | 125m | 124m | 111m |
| Shares issued | 144m | 131m | 130m | 130m | 129m | 125m | 124m | 111m |
| 2.45bn |