Financial Statements — BOF
Balance Sheet
(in millions USD)| Metric | Q1
2026 | Q3
2025 | Q2
2025 | Q1
2025 | Q3
2024 | Q2
2024 | Q1
2024 | Q3
2023 | Q2
2023 |
|---|
| Cash & Equivalents | 0.00 | 0.00 | 0.00 | 0.00 | -- | -- | 0.00 | 0.00 | 0.00 |
| Accounts Receivable | 1.10 | 1.48 | 1.86 | 1.45 | 0.94 | 0.39 | 0.50 | 0.32 | 0.23 |
| Inventory | 4.03 | 2.07 | 1.54 | 1.59 | 0.84 | 0.27 | 0.12 | 0.34 | 0.12 |
| Total Current Assets | 7.74 | 5.46 | 5.20 | 5.79 | 3.34 | 2.59 | 1.27 | 2.89 | 3.51 |
| Property, Plant & Equipment | 6.04 | 5.67 | 4.24 | 4.28 | 3.36 | 1.38 | 0.91 | 0.92 | 0.92 |
| Intangible Assets | -- | -- | -- | -- | -- | -- | 0.85 | 0.85 | 1.33 |
| Total Non-current Assets* | 9.44 | 9.20 | 7.95 | 8.32 | 6.23 | 4.07 | 1.42 | 1.46 | 1.47 |
| Total Assets | 17.17 | 14.66 | 13.15 | 14.11 | 9.57 | 6.66 | 2.69 | 4.36 | 4.98 |
| Accounts Payable | 2.40 | 1.35 | 1.56 | 1.14 | 0.83 | -- | -- | -- | -- |
| Total Current Liabilities | 8.85 | 3.34 | 4.54 | 8.53 | 2.64 | 1.28 | 0.87 | 0.61 | 0.63 |
| Long-term Debt | -- | -- | -- | -- | -- | -- | -- | 0.23 | 0.23 |
| Total Non-current Liabilities* | 2.39 | 6.20 | 5.07 | 1.70 | 5.40 | 3.39 | 0.13 | 0.14 | 0.15 |
| Total Liabilities | 11.24 | 9.54 | 9.61 | 10.23 | 8.04 | 4.67 | 1.00 | 0.76 | 0.79 |
| Retained Earnings | (25.48) | (21.66) | (20.08) | (18.48) | (16.07) | (14.80) | (13.86) | (11.34) | (10.64) |
| Total Stockholder Equity | 5.93 | 5.11 | 3.54 | 3.88 | 1.52 | 1.98 | 1.69 | 3.60 | 4.20 |
* 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 |
|---|
| Total Revenue | 2.61 | 4.01 | 3.22 | 3.30 | 3.19 | 1.50 | 2.18 | 1.36 | 1.47 | 1.48 | 0.91 | 0.34 |
| Cost of Revenue | 2.21 | 3.71 | 2.65 | 2.69 | 2.64 | 1.41 | 1.85 | 1.21 | 1.18 | 1.67 | 0.88 | 0.31 |
| Gross Profit | 0.40 | 0.31 | 0.57 | 0.61 | 0.55 | 0.09 | 0.34 | 0.15 | 0.28 | (0.19) | 0.03 | 0.04 |
| Research & Development | 0.02 | 0.06 | 0.19 | 0.02 | -- | -- | -- | -- | -- | -- | -- | -- |
| Selling, General & Admin | 0.86 | 1.12 | 0.90 | 0.78 | 0.69 | 0.67 | 0.56 | 0.32 | 0.32 | 1.03 | 0.23 | 0.14 |
| Total Operating Expenses | 2.02 | 2.21 | 2.00 | 1.95 | 1.24 | 1.24 | 1.24 | 0.98 | 1.31 | 1.25 | 0.73 | 0.79 |
| Operating Income | (1.62) | (1.91) | (1.43) | (1.35) | (0.68) | (1.15) | (0.90) | (0.83) | (1.03) | (1.44) | (0.70) | (0.75) |
| Interest Expense | 0.17 | 0.13 | 0.15 | 0.26 | 0.24 | 0.34 | 0.37 | 0.12 | 0.03 | 0.03 | 0.01 | 0.22 |
| Pretax Income | (1.79) | (2.03) | (1.57) | (1.60) | (0.92) | -- | -- | -- | -- | -- | -- | -- |
| Net Income | (1.79) | (2.03) | (1.57) | (1.60) | (0.92) | (1.49) | (1.27) | (0.94) | (1.05) | (1.47) | (0.71) | (0.97) |
| Basic EPS | (0.12) | (0.15) | (0.14) | (0.17) | (0.11) | (0.16) | (0.19) | (0.22) | (0.26) | (0.37) | (0.18) | (0.59) |
| Diluted EPS | (0.12) | (0.15) | (0.14) | (0.17) | (0.11) | (0.16) | (0.19) | (0.22) | (0.26) | (0.37) | (0.18) | (0.59) |
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 |
|---|
| Operating Cash Flow | (2.10) | (1.94) | (1.12) | (2.02) | (1.93) | (1.60) | (1.90) | (0.85) | (0.50) | (0.27) | (0.46) | (2.80) |
| Capital Expenditures | 0.52 | 0.17 | 0.08 | 0.11 | 0.38 | 0.73 | 1.54 | 0.53 | 0.05 | 0.05 | 0.00 | 0.01 |
| Free Cash Flow* | (2.61) | (2.11) | (1.20) | (2.13) | (2.30) | (2.33) | (3.45) | (1.38) | (0.55) | (0.32) | (0.46) | (2.81) |
| Investing Cash Flow | (0.52) | (0.17) | (0.08) | (0.11) | (0.38) | (0.73) | (1.53) | (0.53) | (0.04) | (0.05) | (0.06) | (0.01) |
| Financing Cash Flow | 2.97 | 1.90 | 1.38 | 0.36 | 2.35 | 3.59 | 3.57 | 2.06 | 0.14 | (0.03) | (0.07) | 3.85 |
* Derived from reported values
