Financial Statements — ALEC
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 | 76.96 | 76.50 | 44.77 | 37.97 | 37.16 | 47.55 | 72.55 | 101.96 | 131.54 | 195.56 | 184.23 | 172.27 | 454.62 | 516.53 | 125.71 | 110.70 |
| Short-term Investments | 129.55 | 214.61 | 262.51 | 316.58 | 420.04 | 455.79 | 489.53 | 486.90 | 498.51 | 473.77 | 574.08 | 636.59 | 413.95 | 261.32 | 193.86 | 252.04 |
| Total Current Assets | 215.08 | 300.39 | 319.18 | 366.65 | 469.36 | 519.70 | 581.39 | 613.15 | 647.99 | 686.00 | 774.96 | 827.02 | 890.93 | 788.02 | 329.33 | 374.74 |
| Property, Plant & Equipment | 9.93 | 12.71 | 13.91 | 16.21 | 18.22 | 19.95 | 20.84 | 23.12 | 24.29 | 25.00 | 26.29 | 26.03 | 26.23 | 27.90 | 28.70 | 29.47 |
| Total Non-current Assets* | 24.83 | 34.90 | 37.24 | 41.65 | 46.66 | 51.03 | 54.10 | 59.25 | 60.75 | 62.34 | 62.08 | 62.65 | 63.53 | 66.21 | 67.78 | 65.63 |
| Total Assets | 239.92 | 335.29 | 356.42 | 408.30 | 516.02 | 570.73 | 635.49 | 672.40 | 708.74 | 748.34 | 837.04 | 889.67 | 954.46 | 854.23 | 397.11 | 440.36 |
| Accounts Payable | 1.42 | 4.76 | 2.22 | 2.33 | 5.02 | 4.38 | 4.59 | 4.68 | 4.67 | 3.13 | 4.55 | 4.65 | 6.75 | 2.34 | 11.94 | 5.31 |
| Short-term Debt | 1.48 | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Total Current Liabilities | 40.97 | 79.96 | 84.35 | 109.77 | 142.53 | 147.68 | 164.92 | 155.40 | 132.27 | 99.30 | 160.89 | 149.41 | 142.88 | 132.82 | 74.39 | 64.06 |
| Long-term Debt | 8.29 | 9.61 | 9.54 | 9.46 | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Total Non-current Liabilities* | 188.57 | 197.61 | 200.89 | 203.92 | 254.57 | 272.48 | 291.67 | 354.44 | 380.16 | 466.03 | 423.05 | 451.75 | 544.04 | 385.52 | 138.21 | 148.47 |
| Total Liabilities | 229.53 | 277.57 | 285.25 | 313.69 | 397.09 | 420.16 | 456.59 | 509.84 | 512.43 | 565.33 | 583.93 | 601.16 | 686.92 | 518.34 | 212.60 | 212.54 |
| Retained Earnings | (994.99) | (934.79) | (900.12) | (869.60) | (827.05) | (784.83) | (746.16) | (668.64) | (624.17) | (625.54) | (527.26) | (481.11) | (490.99) | (390.77) | (517.37) | (462.22) |
| Total Stockholder Equity | 10.38 | 57.71 | 71.18 | 94.61 | 118.93 | 150.57 | 178.91 | 162.56 | 196.31 | 183.02 | 253.10 | 288.52 | 267.54 | 335.89 | 184.52 | 227.83 |
* 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 | 1.05 | 6.24 | 3.26 | 7.87 | 3.67 | 54.24 | 15.34 | 15.08 | 15.89 | 15.19 | 9.11 | 56.21 | 16.55 | 14.44 | 14.85 | 79.85 | 24.47 | 13.99 | 182.41 | 6.57 |
| Research & Development | 17.86 | 32.46 | 29.35 | 27.61 | 33.64 | 46.46 | 48.00 | 46.31 | 45.17 | 47.72 | 46.33 | 46.18 | 51.89 | 54.49 | 48.35 | 54.53 | 53.04 | 52.79 | 43.07 | 47.82 |
| Selling, General & Admin | 8.11 | 13.34 | 11.52 | 14.40 | 14.73 | 15.03 | 15.78 | 14.38 | 14.43 | 14.92 | 13.36 | 13.63 | 14.78 | 15.39 | 14.25 | 15.84 | 15.55 | 16.93 | 13.02 | 14.08 |
| Total Operating Expenses | 25.97 | 45.80 | 40.87 | 42.01 | 48.37 | 61.49 | 63.78 | 60.69 | 59.60 | 62.64 | 59.69 | 59.80 | 66.66 | 69.88 | 62.60 | 70.38 | 68.60 | 69.72 | 56.08 | 61.89 |
| Operating Income | (24.92) | (39.57) | (37.61) | (34.14) | (44.69) | (7.25) | (48.43) | (45.61) | (43.71) | (47.45) | (50.58) | (3.59) | (50.11) | (55.44) | (47.75) | 9.48 | (44.12) | (55.73) | 126.33 | (55.32) |
| Pretax Income | (22.93) | (37.07) | (34.67) | (30.52) | (40.50) | (1.98) | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Tax Provision | 0.00 | 0.17 | 0.00 | 0.00 | 0.00 | 0.05 | 0.00 | 0.07 | 0.01 | 1.67 | 1.25 | 1.39 | 0.90 | 0.72 | 0.73 | 1.04 | 0.76 | 0.00 | -- | -- |
| Net Income | (22.93) | (37.27) | (34.67) | (30.52) | (40.47) | (2.07) | (42.22) | (38.68) | (36.08) | (41.43) | (44.47) | 1.38 | (45.86) | (52.43) | (46.15) | 9.88 | (44.62) | (55.61) | 126.60 | (55.15) |
| Basic EPS | (0.21) | (0.34) | (0.34) | (0.30) | (0.41) | (0.02) | (0.43) | (0.40) | (0.38) | (0.50) | (0.53) | 0.02 | (0.55) | (0.64) | (0.56) | 0.12 | -- | -- | 1.56 | -- |
| Diluted EPS | (0.21) | (0.34) | (0.34) | (0.30) | (0.41) | (0.02) | (0.43) | (0.40) | (0.38) | (0.50) | (0.53) | 0.02 | (0.55) | (0.64) | (0.56) | 0.12 | -- | -- | 1.49 | -- |
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 | (49.81) | (41.69) | (32.51) | (49.05) | (60.78) | (55.03) | (50.73) | (62.80) | (61.35) | (46.07) | (46.54) | (43.00) | (48.55) | (48.92) | (49.05) | (57.44) | 135.09 | (49.26) | 445.05 | (44.54) |
| Capital Expenditures | 0.12 | 0.00 | 0.01 | 0.01 | 0.02 | 0.17 | 0.21 | 0.34 | 0.53 | 0.23 | (0.09) | 1.22 | 1.02 | 0.77 | 1.92 | 0.74 | 0.69 | 0.56 | 0.92 | 0.83 |
| Free Cash Flow* | (49.93) | (41.69) | (32.52) | (49.06) | (60.80) | (55.20) | (50.95) | (63.13) | (61.88) | (46.30) | (46.45) | (44.22) | (49.57) | (49.69) | (50.97) | (58.19) | 134.40 | (49.82) | 444.14 | (45.37) |
| Investing Cash Flow | 60.95 | 25.60 | 49.54 | 55.72 | 65.74 | 41.40 | 40.35 | 37.15 | (11.76) | 18.07 | 16.96 | (21.81) | 88.70 | 18.38 | 60.53 | (225.82) | (12.11) | (146.75) | (69.05) | 56.59 |
| Financing Cash Flow | 0.03 | 5.39 | 14.70 | 0.12 | 0.00 | 9.79 | 0.00 | 0.64 | 71.11 | 0.59 | 0.00 | 0.88 | 1.08 | 0.64 | 0.49 | 0.91 | 2.48 | 8.64 | 14.82 | 2.96 |
* Derived from reported values
