Financial Statements — ENVX
Balance Sheet
(in billions USD)| Metric | Q1 2026 | Q3 2025 | Q2 2025 | Q1 2025 | Q3 2024 | Q2 2024 | Q1 2024 | Q3 2023 | Q2 2023 | Q1 2023 | Q3 2022 | Q2 2022 | Q1 2022 | Q3 2021 | Q2 2021 | Q1 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | 0.09 | 0.34 | 0.14 | 0.19 | 0.20 | 0.24 | 0.22 | 0.27 | 0.34 | 0.29 | 0.35 | 0.38 | 0.41 | 0.34 | 0.00 | 0.00 |
| Short-term Investments | 0.44 | 0.22 | 0.07 | 0.06 | 0.00 | 0.01 | 0.04 | 0.10 | 0.07 | -- | -- | -- | -- | -- | -- | -- |
| Accounts Receivable | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -- | -- | -- | -- |
| Inventory | 0.02 | 0.02 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -- | -- | -- | -- |
| Total Current Assets | 0.56 | 0.59 | 0.23 | 0.27 | 0.22 | 0.27 | 0.28 | 0.38 | 0.41 | 0.30 | 0.36 | 0.39 | 0.42 | 0.35 | 0.00 | 0.00 |
| Property, Plant & Equipment | 0.16 | 0.17 | 0.18 | 0.17 | 0.16 | 0.15 | 0.16 | 0.14 | 0.12 | 0.10 | 0.10 | 0.09 | 0.08 | 0.06 | -- | -- |
| Goodwill | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Intangible Assets | 0.03 | 0.03 | 0.03 | 0.04 | 0.04 | 0.04 | 0.04 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Total Non-current Assets* | 0.28 | 0.33 | 0.24 | 0.23 | 0.22 | 0.22 | 0.23 | 0.14 | 0.13 | 0.11 | 0.11 | 0.10 | 0.09 | 0.07 | 0.23 | 0.23 |
| Total Assets | 0.83 | 0.91 | 0.47 | 0.50 | 0.45 | 0.49 | 0.51 | 0.52 | 0.54 | 0.41 | 0.47 | 0.49 | 0.51 | 0.42 | 0.23 | 0.23 |
| Accounts Payable | 0.01 | 0.02 | 0.01 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.01 | 0.00 | 0.01 | 0.01 | 0.00 | 0.00 | 0.00 | -- |
| Short-term Debt | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Total Current Liabilities | 0.05 | 0.06 | 0.05 | 0.06 | 0.06 | 0.07 | 0.06 | 0.04 | 0.04 | 0.03 | 0.02 | 0.02 | 0.02 | 0.02 | 0.20 | 0.08 |
| Long-term Debt | 0.52 | 0.52 | 0.17 | 0.17 | 0.17 | 0.17 | 0.17 | 0.17 | 0.17 | -- | -- | -- | -- | -- | -- | -- |
| Total Non-current Liabilities* | 0.54 | 0.56 | 0.21 | 0.20 | 0.22 | 0.25 | 0.22 | 0.22 | 0.25 | 0.07 | 0.09 | 0.04 | 0.07 | 0.08 | 0.00 | 0.15 |
| Total Liabilities* | 0.59 | 0.62 | 0.26 | 0.26 | 0.28 | 0.32 | 0.28 | 0.27 | 0.29 | 0.10 | 0.11 | 0.06 | 0.09 | 0.09 | 0.20 | 0.23 |
| Retained Earnings | (1.02) | (0.94) | (0.89) | (0.84) | (0.78) | (0.76) | (0.65) | (0.54) | (0.52) | (0.46) | (0.37) | (0.29) | (0.29) | (0.25) | (0.17) | (0.05) |
| Total Stockholder Equity | 0.24 | 0.29 | 0.20 | 0.24 | 0.17 | 0.17 | 0.23 | 0.25 | 0.25 | 0.31 | 0.36 | 0.43 | 0.42 | 0.32 | 0.01 | 0.01 |
* 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 | Q2 2022 | Q1 2022 | Q4 2021 | Q3 2021 | Q2 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Revenue | 7.60 | 11.27 | 7.99 | 7.47 | 5.10 | 9.72 | 4.32 | 3.77 | 5.27 | 7.38 | 0.20 | 0.04 | 0.02 | 0.00 | 0.01 | 5.10 | -- | 0.00 | 0.00 | 0.00 |
| Cost of Revenue* | 6.05 | 8.76 | 6.59 | 5.53 | 4.84 | 8.66 | 4.96 | 4.42 | 7.07 | 19.77 | 16.81 | 14.24 | 12.25 | 0.12 | 6.63 | 5.74 | -- | -- | -- | -- |
| Gross Profit | 1.55 | 2.50 | 1.40 | 1.94 | 0.26 | 1.05 | (0.64) | (0.65) | (1.80) | (12.39) | (16.61) | (14.19) | (12.23) | (0.12) | (6.62) | (0.64) | -- | -- | -- | -- |
| Research & Development | 26.53 | 28.07 | 28.18 | 28.15 | 25.93 | 22.43 | 24.22 | 29.07 | 48.79 | 34.58 | 13.51 | 16.55 | 23.75 | 12.44 | 13.95 | 15.83 | 12.73 | 5.00 | 10.30 | -- |
| Selling, General & Admin | 18.92 | 18.42 | 20.19 | 17.53 | 16.89 | 13.14 | 20.74 | 20.88 | 19.55 | 17.81 | 17.25 | 16.69 | 27.27 | 12.21 | 13.11 | 11.57 | 11.87 | 1.95 | 8.79 | -- |
| Total Operating Expenses | 45.45 | 46.49 | 48.37 | 45.68 | 42.82 | 35.57 | 48.63 | 88.10 | 68.34 | 52.39 | 33.77 | 37.65 | 51.02 | 22.91 | 27.06 | 27.39 | 25.12 | 7.94 | 19.20 | -- |
| Operating Income | (43.89) | (43.99) | (46.97) | (43.73) | (42.56) | (34.52) | (49.27) | (88.75) | (70.14) | (64.78) | (50.38) | (51.84) | (63.25) | (49.09) | (33.68) | (28.03) | (25.11) | (7.94) | (19.20) | (0.66) |
| Interest Expense | -- | -- | -- | -- | -- | -- | -- | -- | 1.66 | 1.63 | 1.56 | 1.27 | -- | -- | -- | -- | -- | -- | -- | -- |
| Pretax Income | (38.39) | (34.91) | (54.19) | (45.13) | (23.69) | (36.30) | (20.44) | (120.53) | (46.65) | (60.67) | -- | -- | -- | -- | -- | -- | -- | -- | -- | (118.14) |
| Tax Provision | (0.13) | 0.13 | (0.42) | (0.86) | (0.16) | 1.15 | 2.19 | (4.59) | (0.15) | (0.63) | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Net Income | (38.26) | (34.99) | (53.71) | (44.53) | (23.51) | (37.47) | (22.54) | (115.87) | (46.37) | (59.98) | (16.18) | (64.31) | (73.60) | 54.46 | (82.01) | (1.13) | 42.71 | (13.34) | (10.84) | (118.14) |
| Basic EPS | (0.18) | (0.15) | (0.26) | (0.22) | (0.12) | (0.19) | (0.13) | (0.67) | (0.28) | (0.37) | (0.10) | (0.41) | (0.47) | (0.67) | (0.53) | (0.01) | 0.28 | -- | (0.08) | -- |
| Diluted EPS | (0.18) | (0.14) | (0.27) | (0.22) | (0.12) | (0.02) | (0.30) | (0.67) | (0.28) | (0.21) | (0.29) | (0.41) | (0.47) | (0.61) | (0.53) | (0.18) | (0.16) | -- | (0.14) | -- |
* Derived from reported values
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 | Q2 2022 | Q1 2022 | Q4 2021 | Q3 2021 | Q2 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | (33.07) | (27.00) | (25.53) | (25.86) | (16.91) | (15.96) | (30.68) | (26.95) | (35.04) | (27.23) | (28.24) | (23.55) | (25.61) | -- | (20.60) | (20.61) | (19.69) | (4.52) | (33.85) | (0.17) |
| Capital Expenditures | 3.22 | 1.01 | 2.97 | 7.97 | 6.27 | 16.36 | 19.53 | 25.21 | 15.09 | 28.82 | 17.26 | 12.69 | 3.03 | -- | 16.89 | 4.02 | 10.45 | 8.03 | 31.51 | -- |
| Free Cash Flow* | (36.29) | (28.01) | (28.50) | (33.83) | (23.18) | (32.32) | (50.21) | (52.16) | (50.13) | (56.04) | (45.50) | (36.24) | (28.64) | -- | (37.50) | (24.63) | (30.14) | (12.55) | (65.36) | -- |
| Investing Cash Flow | 18.33 | (199.06) | (248.11) | (26.72) | (64.37) | (16.36) | (4.53) | 0.41 | 19.11 | (10.94) | (50.55) | (78.43) | (3.03) | -- | (16.89) | (4.02) | (10.45) | (8.03) | (31.54) | 0.01 |
| Financing Cash Flow | (2.46) | (3.35) | 473.42 | (1.19) | (1.49) | 106.53 | (0.86) | 39.65 | 5.43 | 2.20 | 6.47 | 151.38 | (0.46) | 63.92 | 1.77 | 1.18 | 53.03 | 6.01 | 375.68 | 0.00 |
* Derived from reported values