Financial Statements — API
Balance Sheet
(in millions USD)| Metric | FY
2025 | FY
2024 | FY
2023 | FY
2022 | FY
2021 | FY
2020 |
|---|
| Cash & Equivalents | 75.45 | 27.08 | 36.89 | 45.67 | 285.67 | 111.22 |
| Short-term Investments | 4.58 | 2.79 | 7.98 | 382.04 | 469.64 | 524.22 |
| Accounts Receivable | 24.87 | 30.95 | 34.67 | 32.80 | 32.62 | 27.84 |
| Total Current Assets | 260.10 | 328.05 | 261.43 | 485.48 | 797.69 | 670.74 |
| Property, Plant & Equipment | 88.19 | -- | 22.71 | 12.95 | 19.19 | 16.75 |
| Goodwill | -- | -- | 0.00 | 31.93 | 56.14 | 3.09 |
| Intangible Assets | 0.10 | 0.61 | 1.27 | 2.73 | 6.70 | 0.21 |
| Total Non-current Assets | 461.00 | 371.60 | 413.17 | 315.24 | 147.31 | 22.17 |
| Total Assets | 721.10 | 699.65 | 674.60 | 800.72 | 945.00 | 692.90 |
| Accounts Payable | 20.42 | 19.84 | 32.78 | 47.01 | 53.03 | 7.72 |
| Total Current Liabilities | 56.79 | 58.34 | 56.89 | 71.65 | 73.80 | 36.31 |
| Long-term Debt | 80.42 | 46.47 | 11.03 | -- | -- | -- |
| Total Non-current Liabilities | 101.47 | 68.66 | 12.95 | 0.80 | 4.93 | 0.13 |
| Total Liabilities | 158.25 | 126.99 | 69.85 | 72.46 | 78.74 | 36.44 |
| Retained Earnings | (477.10) | (486.63) | (443.90) | (356.68) | (236.30) | (163.95) |
| Total Stockholder Equity | 562.85 | 572.66 | 604.75 | 728.26 | 866.26 | 656.46 |
Income Statement
(in millions USD) (except per-share rows)| Metric | FY
2025 | FY
2024 | FY
2023 | FY
2022 | FY
2021 | FY
2020 |
|---|
| Total Revenue | 141.06 | 133.26 | 141.54 | 160.67 | 167.98 | 133.56 |
| Cost of Revenue | 47.39 | 47.81 | 52.06 | 61.25 | 63.98 | 47.20 |
| Gross Profit | 93.66 | 85.45 | 89.48 | 99.42 | 104.01 | 86.36 |
| Research & Development | 55.46 | 80.34 | 77.67 | 114.50 | 110.67 | 49.49 |
| Selling, General & Admin | 22.67 | 32.77 | 34.98 | 38.67 | 30.33 | 18.01 |
| Total Operating Expenses | 104.48 | 140.34 | 146.60 | 206.94 | 187.27 | 93.23 |
| Operating Income | (9.41) | (53.31) | (87.32) | (115.76) | (80.69) | (5.19) |
| Interest Expense | 0.04 | 0.25 | 0.02 | -- | -- | -- |
| Pretax Income | 9.88 | (38.99) | (86.77) | (119.96) | (71.84) | (2.55) |
| Tax Provision | 0.32 | 0.26 | 0.42 | 0.66 | 0.84 | 0.56 |
| Net Income | 9.53 | (42.73) | (87.22) | (120.38) | (72.35) | (3.11) |
| Basic EPS | 0.03 | (0.11) | (0.22) | (0.27) | -- | -- |
| Diluted EPS | 0.02 | (0.11) | (0.22) | (0.27) | -- | -- |
Cash Flow Statement
(in millions USD)| Metric | FY
2025 | FY
2024 | FY
2023 | FY
2022 | FY
2021 | FY
2020 |
|---|
| Operating Cash Flow | 27.23 | (14.13) | (13.61) | (52.38) | (20.00) | 6.56 |
| Capital Expenditures | 1.70 | 2.55 | 0.92 | 4.12 | 12.21 | 12.88 |
| Free Cash Flow* | 25.53 | (16.67) | (14.53) | (56.50) | (32.21) | (6.32) |
| Investing Cash Flow | 13.31 | (38.05) | 56.64 | (144.06) | (57.69) | (535.05) |
| Financing Cash Flow | 4.99 | 45.99 | (52.37) | (41.15) | 251.94 | 533.64 |
* Derived from reported values
