Financial Statements — BIAF
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 |
|---|
| Cash & Equivalents | 3.10 | 7.67 | 0.80 | 0.44 | 0.76 | 0.80 | 2.45 | 4.51 | 8.28 | 9.77 | 13.50 |
| Accounts Receivable | -- | -- | -- | -- | -- | -- | -- | 1.11 | -- | -- | -- |
| Inventory | 0.08 | 0.04 | 0.04 | 0.04 | 0.03 | 0.03 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 |
| Total Current Assets | 4.34 | 8.61 | 1.67 | 1.86 | 2.55 | 2.68 | 3.93 | 6.01 | 8.66 | 10.23 | 14.05 |
| Property, Plant & Equipment | 0.25 | 0.30 | 0.35 | 0.38 | 0.42 | 0.45 | 0.46 | 0.51 | 0.21 | 0.23 | 0.00 |
| Goodwill | 1.40 | 1.40 | 1.40 | 1.40 | 1.40 | 1.40 | 1.40 | 1.15 | -- | -- | -- |
| Intangible Assets | 0.70 | 0.73 | 0.75 | 0.76 | 2.19 | 2.30 | 2.22 | 0.85 | -- | -- | -- |
| Total Non-current Assets* | 3.60 | 2.93 | 3.08 | 3.68 | 4.00 | 3.98 | 4.12 | 4.18 | 0.21 | 0.23 | 0.01 |
| Total Assets | 7.95 | 11.55 | 4.75 | 5.55 | 6.55 | 6.66 | 8.05 | 10.19 | 8.87 | 10.46 | 14.06 |
| Accounts Payable | 0.84 | 0.94 | 1.17 | 1.38 | 0.78 | 0.85 | 0.38 | 0.83 | 0.17 | 0.15 | 0.15 |
| Short-term Debt | 0.26 | -- | -- | -- | 0.26 | -- | -- | -- | -- | -- | -- |
| Total Current Liabilities | 3.18 | 2.36 | 2.59 | 3.42 | 2.49 | 2.33 | 1.77 | 1.96 | 0.78 | 0.80 | 1.46 |
| Total Non-current Liabilities* | 1.10 | 0.28 | 4.30 | 0.69 | 0.94 | 0.90 | 1.02 | 1.24 | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 4.28 | 2.64 | 6.89 | 4.11 | 3.43 | 3.22 | 2.79 | 3.20 | 0.78 | 0.80 | 1.46 |
| Retained Earnings | (72.18) | (65.42) | (60.37) | (56.30) | (50.68) | (48.68) | (46.57) | (42.23) | (39.94) | (38.20) | (34.99) |
| Total Stockholder Equity | 3.66 | 8.90 | (2.14) | 1.44 | 3.12 | 3.43 | 5.26 | 6.99 | 8.10 | 9.67 | 12.60 |
* 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 |
|---|
| Total Revenue | 1.35 | 1.59 | 1.45 | 1.27 | 1.85 | 2.21 | 2.35 | 2.40 | 2.41 | 2.21 | 0.30 | 0.02 | 0.00 | 0.00 | 0.00 |
| Cost of Revenue | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | 0.07 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | 0.22 | 0.02 | 0.00 | 0.00 | 0.00 |
| Research & Development | 0.35 | 0.37 | 0.33 | 0.31 | 0.37 | 0.39 | 0.27 | 0.40 | 0.39 | 0.43 | 0.33 | 0.34 | 0.37 | 0.19 | 0.32 |
| Selling, General & Admin | 3.24 | 3.04 | 2.21 | 2.21 | 2.45 | 2.92 | 2.36 | 2.47 | 2.19 | 2.17 | 2.02 | 1.43 | 1.17 | 1.33 | 0.60 |
| Total Operating Expenses | 4.97 | 4.73 | 3.74 | 3.79 | 4.48 | 5.15 | 4.32 | 4.49 | 4.35 | 4.63 | 2.52 | 1.80 | 1.56 | 1.63 | 0.98 |
| Operating Income | (3.62) | (3.14) | (2.29) | (2.52) | (2.63) | (2.95) | (1.97) | (2.09) | (1.95) | (2.34) | (2.29) | (1.78) | (1.56) | (1.62) | (0.98) |
| Interest Expense | -- | -- | -- | -- | -- | -- | -- | -- | 0.02 | 0.03 | 0.01 | 0.00 | -- | 0.10 | 0.89 |
| Pretax Income | (3.63) | (3.13) | (5.05) | (4.03) | (2.65) | (2.97) | (2.00) | (2.10) | (1.96) | (2.37) | (2.29) | (1.74) | (1.52) | (1.67) | (4.92) |
| Tax Provision | -- | 0.00 | 0.00 | 0.03 | 0.01 | 0.00 | 0.00 | 0.01 | 0.00 | 0.00 | 0.00 | 0.00 | 0.01 | 0.00 | 0.00 |
| Net Income | (3.63) | (3.14) | (5.05) | (4.06) | (2.66) | (2.97) | (2.00) | (2.11) | (1.96) | (2.37) | (2.29) | (1.74) | (1.53) | (1.67) | (4.92) |
| Basic EPS | (0.81) | (3.59) | (4.74) | (0.17) | (0.16) | (0.20) | (0.16) | (0.19) | (0.20) | (0.27) | (0.26) | (0.20) | (0.18) | 0.22 | (1.17) |
| Diluted EPS | (0.81) | (3.59) | (4.74) | (0.17) | (0.16) | (0.20) | (0.16) | (0.19) | (0.20) | (0.26) | (0.26) | (0.20) | -- | -- | -- |
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 |
|---|
| Operating Cash Flow | (3.23) | (2.56) | (2.48) | (2.65) | (1.64) | (1.68) | (1.71) | (1.53) | (2.35) | (1.62) | (1.53) | (1.36) | (1.53) | (1.30) | (2.77) |
| Capital Expenditures | 0.01 | 0.00 | -0.00 | 0.01 | 0.05 | 0.00 | 0.01 | 0.03 | 0.04 | (0.01) | 0.00 | 0.00 | 0.03 | -- | -- |
| Free Cash Flow* | (3.23) | (2.56) | (2.48) | (2.66) | (1.69) | (1.68) | (1.72) | (1.56) | (2.39) | (1.60) | (1.53) | (1.36) | (1.56) | -- | -- |
| Investing Cash Flow | (0.01) | -0.00 | 0.00 | (0.01) | (0.05) | -0.00 | (0.01) | (0.03) | (0.04) | 0.01 | (2.19) | -0.00 | (0.03) | -- | -- |
| Financing Cash Flow | (0.12) | 1.34 | 9.34 | 3.02 | 1.03 | 2.03 | 1.67 | (0.09) | 2.02 | (0.08) | (0.05) | (0.13) | (0.08) | (0.56) | 14.91 |
* Derived from reported values
