Financial Statements — AIP
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 |
|---|
| Cash & Equivalents | 11.67 | 17.42 | 16.10 | 16.37 | 17.83 | 22.13 | 26.12 | 18.63 | 26.33 | 28.51 | 68.20 | 81.30 | 82.24 | 11.24 |
| Short-term Investments | -- | 21.57 | 21.86 | 25.94 | 30.84 | 23.63 | 18.70 | 27.73 | 28.64 | 32.43 | 4.40 | -- | -- | -- |
| Accounts Receivable | 14.69 | 16.48 | 18.75 | 10.27 | 8.72 | 8.95 | 12.27 | 10.37 | 9.58 | 9.75 | 9.64 | 4.71 | 8.20 | 8.12 |
| Total Current Assets | 61.54 | 61.03 | 61.54 | 57.40 | 62.78 | 58.91 | 61.80 | 61.98 | 70.41 | 75.78 | 90.67 | 94.87 | 98.89 | 24.41 |
| Property, Plant & Equipment | 3.59 | 4.46 | 4.29 | 3.43 | 4.06 | 4.67 | 5.24 | 5.43 | 5.17 | 3.31 | 3.50 | 3.02 | 2.28 | 2.26 |
| Goodwill | 35.20 | 4.18 | 4.18 | 4.18 | 4.18 | 4.18 | 4.18 | 4.18 | 4.18 | 4.22 | 2.68 | 2.68 | 2.68 | 2.68 |
| Intangible Assets | 19.40 | 2.21 | 2.43 | 2.65 | 3.10 | 2.82 | 3.01 | 3.35 | 3.54 | 3.73 | 1.93 | 2.04 | 2.16 | 3.05 |
| Total Non-current Assets* | 78.34 | 46.71 | 45.34 | 40.92 | 34.94 | 37.47 | 39.56 | 40.19 | 36.41 | 31.52 | 28.16 | 26.28 | 13.48 | 16.19 |
| Total Assets | 139.88 | 107.74 | 106.88 | 98.32 | 97.72 | 96.37 | 101.35 | 102.17 | 106.83 | 107.29 | 118.82 | 121.15 | 112.37 | 40.60 |
| Accounts Payable | 0.56 | 0.52 | 0.86 | 0.23 | 0.14 | 0.34 | 0.75 | 0.45 | 0.21 | 1.22 | 1.98 | 1.57 | 1.03 | 1.53 |
| Total Current Liabilities | 84.52 | 66.77 | 62.56 | 56.54 | 54.22 | 51.73 | 49.82 | 44.52 | 43.74 | 40.94 | 43.69 | 42.53 | 40.41 | 36.65 |
| Total Non-current Liabilities* | 52.76 | 52.41 | 51.85 | 46.60 | 41.29 | 39.37 | 41.99 | 35.62 | 36.17 | 34.58 | 34.78 | 32.91 | 24.30 | 18.93 |
| Total Liabilities | 137.29 | 119.19 | 114.41 | 103.14 | 95.51 | 91.10 | 91.81 | 80.14 | 79.91 | 75.53 | 78.47 | 75.44 | 64.71 | 55.58 |
| Retained Earnings | (179.59) | (163.13) | (154.14) | (145.01) | (128.68) | (120.99) | (112.65) | (92.71) | (84.55) | (75.39) | (59.16) | (51.48) | (45.81) | (31.20) |
| Total Stockholder Equity | 2.59 | (11.45) | (7.53) | (4.82) | 2.21 | 5.28 | 9.55 | 22.03 | 26.92 | 31.77 | 40.36 | 45.71 | 47.66 | (20.69) |
* 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 |
|---|
| Total Revenue | 22.94 | 20.14 | 17.41 | 16.50 | 16.53 | 15.49 | 14.71 | 14.58 | 12.95 | 12.50 | 13.27 | 14.73 | 13.15 | 11.20 | 12.60 | 14.82 | 11.76 | 11.43 | 8.96 |
| Cost of Revenue | 3.25 | 1.86 | 1.77 | 1.74 | 1.53 | 1.58 | 1.46 | 1.46 | 1.47 | 1.45 | 1.28 | 1.23 | 1.12 | 1.09 | 0.93 | 1.29 | 0.98 | 1.11 | 0.88 |
| Gross Profit | 19.69 | 18.28 | 15.64 | 14.76 | 15.01 | 13.91 | 13.25 | 13.12 | 11.48 | 11.06 | 11.99 | 13.51 | 12.03 | 10.12 | 11.67 | 13.53 | 10.78 | 10.32 | 8.08 |
| Research & Development | 14.46 | 13.23 | 12.65 | 12.17 | 11.86 | 11.53 | 11.92 | 10.72 | 10.84 | 10.66 | 11.00 | 12.09 | 11.38 | 10.32 | 11.02 | 10.37 | 9.46 | 10.24 | 7.61 |
| Selling, General & Admin | 5.42 | 6.45 | 4.86 | 4.50 | 4.32 | 4.12 | 4.29 | 4.83 | 4.32 | 4.61 | 4.43 | 4.50 | 4.40 | 4.23 | 3.99 | 4.13 | 4.01 | 3.61 | 1.74 |
| Total Operating Expenses | 28.99 | 26.74 | 24.36 | 23.01 | 22.71 | 21.02 | 21.17 | 20.56 | 20.61 | 20.31 | 20.45 | 22.19 | 20.79 | 19.18 | 19.42 | 18.96 | 17.39 | 17.60 | 12.59 |
| Operating Income | (9.30) | (8.47) | (8.71) | (8.25) | (7.71) | (7.10) | (7.92) | (7.44) | (9.13) | (9.25) | (8.45) | (8.68) | (8.76) | (9.06) | (7.75) | (5.43) | (6.62) | (7.28) | (4.52) |
| Interest Expense | -- | -- | -- | -- | -- | -- | -- | -- | 0.08 | 0.08 | 0.08 | 0.03 | 0.03 | 0.03 | -- | -- | -- | -- | -- |
| Pretax Income | (11.66) | (7.79) | (8.13) | (7.50) | (7.04) | (6.32) | (7.20) | (6.64) | (8.27) | (8.41) | (7.63) | (7.87) | (7.88) | (8.35) | (7.44) | (5.32) | (6.70) | (7.36) | (4.70) |
| Tax Provision | (3.70) | (0.02) | 0.38 | 0.85 | 0.27 | 1.25 | (0.09) | 0.98 | 0.37 | 1.22 | (0.40) | 0.56 | 0.30 | (1.14) | 0.25 | 0.35 | 0.12 | 0.43 | 0.27 |
| Net Income | (7.96) | (8.50) | (8.99) | (9.13) | (8.12) | (8.20) | (7.69) | (8.34) | (9.40) | (10.54) | (8.15) | (9.16) | (9.01) | (7.21) | (7.68) | (5.67) | (6.82) | (7.79) | (4.97) |
| Basic EPS | (0.17) | (0.19) | (0.21) | (0.22) | (0.20) | (0.19) | (0.20) | (0.22) | (0.25) | (0.28) | (0.23) | (0.26) | (0.26) | (0.21) | (0.23) | (0.18) | (0.22) | (0.27) | (0.24) |
| Diluted EPS | (0.17) | (0.19) | (0.21) | (0.22) | (0.20) | (0.19) | (0.20) | (0.22) | (0.25) | (0.28) | (0.23) | (0.26) | (0.26) | (0.21) | (0.23) | (0.18) | (0.22) | (0.27) | (0.24) |
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 |
|---|
| Operating Cash Flow | (7.06) | 3.17 | 3.19 | (2.48) | 2.86 | (2.63) | 1.12 | 0.31 | 0.48 | (2.98) | (2.81) | (1.55) | (8.39) | (0.39) | (5.21) | (2.02) | (1.36) | 3.19 | (4.01) |
| Capital Expenditures | 0.30 | 0.13 | 0.72 | 0.36 | 0.18 | 0.05 | 0.03 | 0.05 | 0.20 | 0.43 | 0.34 | 0.62 | 0.12 | 0.40 | 0.45 | 0.11 | 0.09 | 0.32 | 0.49 |
| Free Cash Flow* | (7.36) | 3.04 | 2.47 | (2.84) | 2.68 | (2.68) | 1.09 | 0.26 | 0.28 | (3.41) | (3.15) | (2.17) | (8.51) | (0.79) | (5.66) | (2.13) | (1.45) | 2.87 | (4.49) |
| Investing Cash Flow | (16.05) | 13.08 | (1.63) | 0.71 | (0.12) | (1.93) | (4.65) | (4.36) | 11.90 | (1.37) | (3.69) | (0.05) | 0.42 | (30.15) | (6.61) | (0.44) | (0.28) | (0.87) | (0.49) |
| Financing Cash Flow | 0.88 | 0.14 | (0.18) | 1.51 | (0.05) | 0.41 | (0.77) | 0.06 | 0.04 | (0.58) | (1.21) | (0.18) | (0.95) | (0.24) | (1.28) | (0.69) | (1.94) | 72.26 | 3.99 |
* Derived from reported values
