Financial Statements — AVR
Balance Sheet
(in millions USD)| Metric | Q1
2026 | Q3
2025 | Q2
2025 | Q1
2025 |
|---|
| Cash & Equivalents | 283.21 | 9.12 | 28.44 | 48.96 |
| Accounts Receivable | 0.23 | 0.23 | 0.69 | 0.19 |
| Inventory | 0.12 | 0.44 | 0.45 | 0.36 |
| Total Current Assets | 286.67 | 11.22 | 32.21 | 52.98 |
| Property, Plant & Equipment | 5.18 | 5.30 | 4.93 | 4.66 |
| Intangible Assets | 0.11 | 0.07 | 0.10 | 0.14 |
| Total Non-current Assets | 8.05 | 7.85 | 7.67 | 5.81 |
| Total Assets | 294.72 | 19.07 | 39.88 | 58.79 |
| Accounts Payable | 3.79 | 8.44 | 6.87 | 7.49 |
| Total Current Liabilities | 13.69 | 13.43 | 13.34 | 14.43 |
| Long-term Debt | 0.02 | 0.03 | 0.03 | 0.03 |
| Total Non-current Liabilities | 2.62 | 2.28 | 2.51 | 1.25 |
| Total Liabilities | 16.31 | 15.72 | 15.85 | 15.68 |
| Retained Earnings | (393.56) | (341.33) | (319.09) | (298.25) |
| Total Stockholder Equity | 278.45 | 3.70 | 24.41 | 43.26 |
Income Statement
(in millions USD) (except per-share rows)| Metric | Q1
2026 | Q4
2025 | Q3
2025 | Q2
2025 | Q1
2025 |
|---|
| Total Revenue | 0.49 | 0.31 | 0.43 | 0.62 | 0.56 |
| Cost of Revenue | 0.11 | 0.09 | 0.12 | 0.15 | 0.21 |
| Gross Profit | 0.38 | 0.22 | 0.31 | 0.47 | 0.35 |
| Research & Development | 17.46 | 19.51 | 16.81 | 16.34 | 16.46 |
| Selling, General & Admin | 6.93 | 9.67 | 5.76 | 5.01 | 5.67 |
| Total Operating Expenses | 24.39 | 29.18 | 22.57 | 21.35 | 22.13 |
| Operating Income | (24.01) | (28.96) | (22.26) | (20.88) | (21.78) |
| Pretax Income | (22.41) | (29.02) | (22.21) | (21.06) | (21.93) |
| Tax Provision | 0.49 | 0.00 | 0.00 | 0.00 | 0.00 |
| Net Income | (23.02) | (29.20) | (22.24) | (20.83) | (21.86) |
| Basic EPS | (0.28) | (0.74) | (0.62) | (0.58) | (0.61) |
| Diluted EPS | (0.28) | (0.74) | (0.62) | (0.58) | (0.61) |
Cash Flow Statement
(in millions USD)| Metric | Q1
2026 | Q4
2025 | Q3
2025 | Q2
2025 | Q1
2025 |
|---|
| Operating Cash Flow | (28.68) | (18.53) | (18.25) | (19.53) | (21.49) |
| Capital Expenditures | 0.14 | 0.40 | 0.77 | 0.54 | 0.25 |
| Free Cash Flow* | (28.82) | (18.92) | (19.02) | (20.07) | (21.74) |
| Investing Cash Flow | (0.18) | (0.40) | (0.77) | (0.54) | 1.11 |
| Financing Cash Flow | 299.51 | 22.38 | (0.29) | (0.44) | (1.09) |
* Derived from reported values
