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Company reports as filed with the U.S. Securities and Exchange Commission.
| Metric | Dec 31, 2025 | Dec 31, 2024 |
|---|---|---|
| Revenue | 0 | 0 |
| Research and development | 987m | 592m |
| Selling, general and administrative | 195m | 97m |
| Operating expenses | 1.18bn | 690m |
| Operating income | −1.18bn | −690m |
| Pre-tax income | −1.13bn | −601m |
| Income tax | 0 | −753,000 |
| Net income | −1.13bn | −600m |
| Earnings per share | −5.95 | −3.58 |
| Earnings per share, diluted | −5.95 | −3.58 |
| Weighted average shares | 190m | 168m |
| Weighted average shares, diluted | 190m | 168m |
| 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 | 441m | 384m | 217m | 402m | 334m | 543m | 201m | 276m |
| Short-term investments | 1.47bn | 1.64bn |
| Metric | Dec 31, 2025 | Dec 31, 2024 |
|---|---|---|
| Operating cash flow | −898m | −557m |
| Depreciation and amortisation | 8m | 7m |
| Share-based compensation | 118m | 79m |
| Capital expenditure | 16m | 10m |
| Investing cash flow | 118m | −554m |
| Financing cash flow | 622m |
Amounts in USD unless stated otherwise. Sources: Nasdaq Trader, Yahoo Finance, U.S. Securities and Exchange Commission (EDGAR)
| 1.71bn |
| 1.73bn |
| 1.77bn |
| 1.75bn |
| 1.35bn |
| 1.32bn |
| Current assets | 1.97bn | 2.08bn | 1.98bn | 2.18bn | 2.13bn | 2.33bn | 1.58bn | 1.62bn |
| Property, plant and equipment | 31m | 33m | 33m | 33m | 27m | 24m | 25m | 25m |
| Goodwill | 15m | 15m | 15m | 15m | 15m | 15m | 15m | 15m |
| Total assets | 2.25bn | 2.35bn | 2.25bn | 2.43bn | 2.37bn | 2.56bn | 1.76bn | 1.81bn |
| Current liabilities | 290m | 290m | 246m | 185m | 159m | 164m | 111m | 105m |
| Total liabilities | 754m | 723m | 655m | 564m | 287m | 293m | 197m | 190m |
| Equity | 1.50bn | 1.63bn | 1.60bn | 1.87bn | 2.08bn | 2.27bn | 1.57bn | 1.62bn |
| Shares outstanding | 200m | 197m | 190m | 187m | 186m | 186m | 168m | 166m |
| Shares issued | 200m | 197m | 190m | 187m | 186m | 186m | 173m | 171m |
| 959m |