TREE: financial statements from SEC

Income statement

Metric	Dec 31, 2025	Dec 31, 2024
Revenue	1.12bn	900m
Cost of revenue	43m	36m
Research and development	45m	46m
Selling, general and administrative	113m	109m
Operating expenses	1.05bn	856m
Operating income	65m	45m
Pre-tax income	21m	−37m
Income tax	−130m	4m
Net income	151m	−42m
Earnings per share	11.14	−3.14
Earnings per share, diluted	10.78	−3.14
Weighted average shares	14m	13m
Weighted average shares, diluted	14m	13m

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	86m	81m	69m	149m	126m	107m	97m	67m
Receivables	117m	111m	149m	126m	85m	98m	125m	108m
Current assets	244m	230m	259m	319m	254m	238m	252m	206m
Property, plant and equipment	31m	33m	34m	39m	41m	43m	45m	46m
Goodwill	382m	382m	382m	382m	382m	382m	382m	382m
Total assets	864m	856m	760m	836m	777m	768m	787m	802m
Current liabilities	129m	137m	181m	261m	213m	240m	272m	113m
Short-term debt	4m	4m	4m	106m	106m	125m	126m	15m
Long-term debt	387m	388m	388m	385m	388m	344m	346m	468m
Total liabilities	559m	569m	628m	718m	673m	659m	693m	656m
Equity	305m	287m	132m	118m	104m	109m	94m	146m
Shares outstanding	14m	14m	14m	14m	14m	13m	13m	13m
Shares issued	17m	17m	17m	17m	17m	17m	17m	17m
Treasury shares	3m	3m	3m	3m	3m	3m	3m	3m

Metric	Dec 31, 2025	Dec 31, 2024
Operating cash flow	73m	62m
Depreciation and amortisation	16m	18m
Share-based compensation	29m	29m
Capital expenditure	12m	11m
Investing cash flow	−10m	−11m
Share buybacks	—	0
Financing cash flow	−89m	−57m