SPCE: financial statements from SEC

Income statement

Metric	Dec 31, 2025	Dec 31, 2024
Revenue	2m	7m
Cost of revenue	73m	90m
Research and development	80m	153m
Selling, general and administrative	117m	125m
Operating expenses	287m	384m
Operating income	−285m	−377m
Pre-tax income	−279m	−347m
Income tax	52,000	74,000
Net income	−279m	−347m
Earnings per share	−5.44	−13.89
Earnings per share, diluted	−5.44	−13.89
Weighted average shares	51m	25m
Weighted average shares, diluted	51m	25m

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	125m	145m	129m	164m	141m	179m	172m	182m
Short-term investments	95m	162m	265m	306m	349m	385m	479m	593m
Current assets	283m	373m	459m	533m	548m	628m	713m	844m
Property, plant and equipment	427m	389m	350m	306m	249m	209m	181m	144m
Total assets	750m	803m	854m	899m	904m	961m	1.02bn	1.06bn
Current liabilities	283m	209m	160m	157m	144m	150m	158m	179m
Short-term debt	117m	48m	—	—	—	0	—	—
Long-term debt	203m	276m	—	—	—	420m	—	—
Total liabilities	527m	529m	628m	635m	632m	639m	650m	668m
Equity	224m	274m	226m	263m	272m	322m	366m	395m
Shares outstanding	81m	73m	63m	56m	40m	33m	29m	24m
Shares issued	81m	73m	63m	56m	40m	33m	29m	24m

Metric	Dec 31, 2025	Dec 31, 2024
Operating cash flow	−240m	−353m
Depreciation and amortisation	16m	15m
Share-based compensation	19m	30m
Capital expenditure	198m	122m
Investing cash flow	91m	176m
Financing cash flow	114m	134m