Financial Statements — AIFF
Balance Sheet
(in millions USD)| Metric | Q1 2026 | Q3 2025 | Q2 2025 | Q1 2025 | Q3 2024 | Q2 2024 | Q1 2024 | Q3 2023 | Q2 2023 | Q1 2023 | Q3 2022 | Q2 2022 | Q1 2022 | Q3 2021 | Q2 2021 | Q1 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | 3.13 | -- | -- | -- | -- | 0.24 | 0.56 | 0.88 | 0.34 | 0.81 | 1.52 | 0.58 | 3.00 | 3.68 | 1.53 | 3.02 |
| Accounts Receivable | 0.19 | -- | -- | 0.10 | -- | 0.79 | 0.78 | 1.48 | 1.73 | 1.63 | 1.53 | 3.58 | 1.67 | 2.87 | 2.10 | 1.19 |
| Inventory | 0.10 | 0.08 | 0.13 | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Total Current Assets | 4.46 | 5.43 | 7.53 | 10.38 | 2.67 | 1.17 | 1.56 | 2.72 | 2.60 | 3.28 | 3.36 | 4.46 | 5.13 | 6.85 | 4.25 | 4.31 |
| Property, Plant & Equipment | 0.20 | 0.24 | 0.14 | 0.13 | 0.07 | 0.04 | 0.05 | 0.07 | 0.08 | 0.09 | 0.31 | 0.11 | 0.10 | 0.09 | 0.07 | 0.06 |
| Goodwill | 5.18 | 5.18 | 5.18 | -- | -- | 1.13 | 1.13 | 1.13 | 1.13 | 1.13 | 5.33 | 7.59 | 7.59 | 0.79 | 0.79 | -- |
| Intangible Assets | 0.82 | 0.90 | 1.10 | 0.17 | 1.11 | 0.65 | 0.68 | 0.77 | 0.81 | 0.86 | 6.72 | 7.07 | 7.42 | 1.12 | 1.17 | -- |
| Total Non-current Assets* | 6.45 | 6.98 | 7.41 | 1.99 | 2.65 | 2.14 | 2.20 | 2.54 | 3.65 | 4.01 | 13.25 | 15.70 | 16.09 | 2.57 | 2.61 | 0.43 |
| Total Assets | 10.91 | 12.41 | 14.94 | 12.36 | 5.31 | 3.31 | 3.76 | 5.26 | 6.25 | 7.29 | 16.61 | 20.16 | 21.22 | 9.42 | 6.85 | 4.74 |
| Accounts Payable | 1.33 | -- | -- | 1.61 | -- | 0.76 | 0.66 | 0.50 | 0.84 | 0.51 | 0.23 | 1.55 | 0.30 | 0.93 | 0.75 | 0.19 |
| Total Current Liabilities | 2.45 | 2.72 | 2.80 | 7.18 | 2.54 | 1.91 | 2.04 | 2.18 | 3.38 | 4.61 | 2.08 | 3.45 | 2.32 | 3.12 | 3.07 | 2.03 |
| Long-term Debt | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | 1.52 | 0.45 |
| Total Non-current Liabilities* | 0.01 | 0.03 | 0.04 | 0.00 | 0.00 | 0.02 | 0.02 | 0.19 | 0.25 | 0.30 | 1.90 | 2.00 | 3.20 | 0.66 | 0.94 | 0.30 |
| Total Liabilities | 2.47 | 2.75 | 2.84 | 7.18 | 2.54 | 1.93 | 2.06 | 2.38 | 3.63 | 4.92 | 3.98 | 5.45 | 5.52 | 3.78 | 4.01 | 2.33 |
| Retained Earnings | (113.62) | (108.90) | (106.26) | (104.42) | (83.30) | (34.29) | (33.90) | (32.46) | (32.31) | (32.54) | (21.74) | (17.04) | (15.52) | (12.09) | (11.99) | (12.03) |
| Total Stockholder Equity | 8.44 | 9.66 | 12.10 | 5.19 | 2.78 | 1.38 | 1.71 | 2.88 | 2.62 | 2.37 | 12.63 | 14.71 | 15.70 | 5.64 | 2.85 | 2.41 |
* Derived from reported values
Income Statement
(in millions USD) (except per-share rows)| Metric | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 | Q3 2021 | Q2 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Revenue | 0.49 | 0.41 | 0.39 | 0.30 | 0.04 | (3.74) | 0.03 | 1.90 | 1.92 | 1.83 | 1.97 | 2.02 | 2.16 | 2.40 | 2.31 | 4.32 | 3.00 | 2.58 | 4.30 | 4.73 |
| Cost of Revenue* | 0.26 | 0.23 | 0.24 | 0.03 | -- | -- | -- | 1.22 | 1.22 | 1.23 | 1.32 | 1.32 | 1.50 | 1.61 | 1.82 | 3.39 | 2.62 | 1.92 | 3.32 | 3.78 |
| Gross Profit | 0.22 | 0.18 | 0.15 | 0.27 | -- | -- | -- | 0.68 | 0.70 | 0.60 | 0.65 | 0.71 | 0.66 | 0.79 | 0.48 | 0.93 | 0.38 | 0.66 | 0.98 | 0.96 |
| Research & Development | 0.42 | 0.46 | 0.38 | 0.34 | 0.31 | 0.44 | 0.88 | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Selling, General & Admin | 1.67 | 2.00 | 2.01 | 1.37 | 1.59 | 1.95 | 2.99 | 1.06 | 1.37 | 1.41 | 1.17 | 1.65 | 1.61 | 3.18 | 2.93 | 3.24 | 2.71 | 3.14 | 1.00 | 0.80 |
| Total Operating Expenses* | 2.23 | 2.68 | 2.80 | 1.91 | 2.11 | 3.49 | 4.30 | 1.82 | 1.37 | 1.41 | 1.17 | 0.21 | 1.61 | 10.32 | 5.22 | 2.65 | 3.15 | 3.53 | 1.06 | 0.90 |
| Operating Income | (2.01) | (2.50) | (2.66) | (1.63) | (2.06) | (4.73) | (4.27) | (0.38) | (0.67) | (0.81) | (0.52) | 0.49 | (0.95) | (9.54) | (4.74) | (1.72) | (2.77) | (2.87) | (0.08) | 0.05 |
| Interest Expense | -- | -- | -- | -- | -- | -- | -- | -- | 0.01 | 0.01 | 0.02 | 0.04 | 0.04 | 0.02 | 0.02 | 0.02 | 0.02 | 0.01 | -- | -- |
| Pretax Income | (2.00) | (2.48) | (2.64) | (1.83) | (12.93) | (3.78) | (4.29) | (0.39) | (0.67) | (0.81) | (0.15) | 0.46 | (0.99) | (9.55) | (4.76) | (1.74) | (2.80) | (2.42) | (0.10) | 0.04 |
| Tax Provision | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | (0.04) | 0.00 | 0.00 | 0.00 | (0.10) | (0.05) | (0.22) | (0.73) | (1.07) | 0.00 | 0.00 |
| Net Income | (2.00) | (2.48) | (2.64) | (1.83) | (12.93) | (5.11) | (4.29) | (0.39) | (0.67) | (0.77) | (0.15) | 0.23 | (1.35) | (9.45) | (4.70) | (1.53) | (2.08) | (1.35) | (0.10) | 0.04 |
| Basic EPS | (0.13) | 0.11 | (0.20) | (0.14) | (1.74) | (0.08) | (0.61) | (0.58) | (0.33) | (0.90) | (0.08) | 0.01 | (0.07) | (0.51) | (0.26) | (0.09) | (0.12) | (0.10) | (0.01) | 0.00 |
| Diluted EPS | -- | -- | (0.20) | -- | -- | -- | -- | (0.58) | -- | -- | -- | 0.01 | -- | -- | (0.26) | (0.09) | (0.12) | (0.10) | (0.01) | 0.00 |
* Derived from reported values
Cash Flow Statement
(in millions USD)| Metric | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 | Q3 2021 | Q2 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | (1.95) | (1.80) | (1.49) | (2.39) | (2.51) | (1.22) | (4.70) | (0.12) | (0.12) | (0.10) | (0.56) | (0.39) | (1.76) | (0.91) | (0.74) | (2.41) | (1.95) | (0.31) | (0.31) | (0.28) |
| Capital Expenditures | -- | -- | -- | -- | -- | -- | -- | -- | -- | 0.00 | 0.00 | 0.00 | 0.00 | 0.30 | 0.20 | 0.02 | 0.01 | 0.01 | 0.03 | 0.02 |
| Free Cash Flow* | -- | -- | -- | -- | -- | -- | -- | -- | -- | (0.10) | (0.56) | (0.39) | (1.76) | (1.22) | (0.95) | (2.43) | (1.96) | (0.32) | (0.34) | (0.30) |
| Investing Cash Flow | (0.06) | (0.02) | (0.09) | (2.37) | (0.01) | (0.08) | (0.40) | 0.00 | 0.00 | 0.00 | 1.40 | 0.00 | 0.94 | (0.30) | (0.20) | (0.02) | (0.01) | (7.29) | (0.03) | (2.25) |
| Financing Cash Flow | 2.39 | 0.25 | (0.02) | 1.14 | 10.25 | 1.87 | 4.63 | (0.20) | 0.00 | (0.09) | (0.30) | (0.09) | 0.91 | 0.43 | 1.89 | 0.01 | 0.03 | 8.85 | 2.49 | 1.05 |
* Derived from reported values