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Company reports as filed with the U.S. Securities and Exchange Commission.
| Metric | Dec 31, 2025 | Dec 31, 2024 |
|---|---|---|
| Revenue | 300m | 109m |
| Cost of revenue | 171m | 69m |
| Gross profit | 129m | 40m |
| Selling, general and administrative | 90m | 77m |
| Operating expenses | 156m | 108m |
| Operating income | −27m | −69m |
| Pre-tax income | −43m | −54m |
| Income tax | 2m | — |
| Net income | −45m | −56m |
| Earnings per share | −0.52 | −0.85 |
| Earnings per share, diluted | −0.52 | −1.22 |
| Weighted average shares | 87m | 67m |
| Weighted average shares, diluted | 87m | 76m |
| 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 | 9m | 10m | 5m | 11m | 11m | 13m | 83m | 6m |
| Receivables | — | — |
| Metric | Dec 31, 2025 | Dec 31, 2024 |
|---|---|---|
| Operating cash flow | −15m | −55m |
| Depreciation and amortisation | 9m | 3m |
| Share-based compensation | 10m | 3m |
| Investing cash flow | −19m | −55m |
| Financing cash flow | 31m | 120m |
Amounts in USD unless stated otherwise. Sources: Nasdaq Trader, Yahoo Finance, U.S. Securities and Exchange Commission (EDGAR)
| 81m |
| 39m |
| 29m |
| 52m |
| 8m |
| 13m |
| Inventory | 4m | 4m | 9m | 5m | 11m | 22m | 607,000 | 2m |
| Current assets | 122m | 113m | 115m | 116m | 101m | 96m | 102m | 24m |
| Property, plant and equipment | 5m | 5m | 4m | 4m | 5m | 5m | 590,000 | 4m |
| Goodwill | 76m | 63m | 43m | 20m | 18m | 18m | — | — |
| Total assets | 262m | 241m | 208m | 163m | 148m | 144m | 108m | 33m |
| Current liabilities | 172m | 155m | 115m | 101m | 85m | 79m | 42m | 113m |
| Short-term debt | — | — | — | — | 2m | — | — | — |
| Total liabilities | 324m | 331m | 321m | 270m | 237m | 242m | 251m | 125m |
| Equity | −61m | −90m | −112m | −107m | −89m | −98m | −143m | −92m |
| Shares outstanding | 120m | 111m | 89m | 82m | 80m | 74m | 73m | 63m |
| Shares issued | 120m | 111m | 89m | 82m | 80m | 74m | 73m | 63m |