Financial Statements — CARL
Balance Sheet
(in millions USD)| Metric | Q1 2026 | Q3 2025 | Q2 2025 |
|---|---|---|---|
| Cash & Equivalents | 73.02 | 115.37 | 33.47 |
| Short-term Investments | 24.00 | -- | -- |
| Accounts Receivable | 12.27 | 11.30 | 9.71 |
| Inventory | 2.06 | 1.34 | 1.07 |
| Total Current Assets | 115.41 | 131.47 | 46.19 |
| Property, Plant & Equipment | 1.60 | 1.19 | 0.97 |
| Total Non-current Assets* | 3.36 | 3.40 | 7.08 |
| Total Assets | 118.77 | 134.86 | 53.27 |
| Accounts Payable | 2.95 | 2.67 | 2.58 |
| Total Current Liabilities | 9.72 | 10.93 | 9.48 |
| Long-term Debt | 15.36 | 15.44 | 15.43 |
| Total Non-current Liabilities* | 16.81 | 17.27 | 18.13 |
| Total Liabilities | 26.52 | 28.20 | 27.61 |
| Retained Earnings | (109.50) | (92.19) | (83.67) |
| Total Stockholder Equity | 92.25 | 106.66 | (83.07) |
* Derived from reported values
Income Statement
(in millions USD) (except per-share rows)| Metric | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 |
|---|---|---|---|---|
| Total Revenue | 16.12 | 15.17 | 13.07 | 12.08 |
| Cost of Revenue | 3.69 | 3.56 | 3.15 | 3.21 |
| Gross Profit | 12.43 | 11.61 | 9.93 | 8.87 |
| Research & Development | 5.18 | 5.26 | 4.45 | 4.16 |
| Selling, General & Admin | 6.23 | 4.85 | 4.91 | 3.34 |
| Total Operating Expenses | 21.70 | 20.93 | 18.96 | 15.37 |
| Operating Income | (9.28) | (9.32) | (9.03) | (6.50) |
| Interest Expense | 0.31 | 0.33 | 0.38 | 0.36 |
| Pretax Income* | (8.70) | (8.61) | (8.53) | (6.77) |
| Tax Provision | 0.00 | 0.00 | 0.00 | 0.00 |
| Net Income | (8.70) | (8.61) | (8.53) | (6.77) |
| Basic EPS | (0.32) | 0.03 | (0.40) | (1.47) |
| Diluted EPS | (0.32) | 0.03 | (0.40) | (1.47) |
* Derived from reported values
Cash Flow Statement
(in millions USD)| Metric | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 |
|---|---|---|---|---|
| Operating Cash Flow | (13.01) | (5.32) | (8.46) | (15.20) |
| Capital Expenditures | 0.08 | 0.07 | 0.16 | 0.41 |
| Free Cash Flow* | (13.09) | (5.39) | (8.62) | (15.61) |
| Investing Cash Flow | (0.21) | (24.23) | (0.34) | (0.91) |
| Financing Cash Flow | 0.44 | (0.03) | 90.70 | 9.45 |
* Derived from reported values