Financial Statements — FEED
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 | Q2
2022 | Q1
2022 | Q3
2021 | Q2
2021 | Q1
2021 |
|---|
| Cash & Equivalents | 2.24 | 6.95 | 4.03 | 0.60 | 1.31 | 2.17 | -- | -- | -- | -- | 1.97 | 3.94 | 5.99 | 8.60 | 5.67 | 7.95 |
| Accounts Receivable | 0.33 | 0.25 | 0.12 | 0.36 | 0.58 | 0.49 | 0.36 | 0.03 | 0.07 | 0.06 | 0.23 | 0.26 | 0.13 | 0.03 | 0.04 | 0.03 |
| Inventory | 2.27 | 2.24 | 2.21 | 2.02 | 2.25 | 2.43 | 2.59 | 3.18 | 3.11 | 2.21 | 1.55 | 0.93 | 0.36 | 0.20 | 0.21 | 0.17 |
| Total Current Assets | 6.20 | 10.02 | 6.89 | 3.86 | 4.38 | 5.39 | 5.95 | 7.17 | 3.61 | 4.57 | 4.99 | 6.31 | 7.39 | 9.43 | 6.58 | 8.36 |
| Property, Plant & Equipment | 0.13 | 0.12 | 0.11 | 0.13 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 |
| Goodwill | 29.08 | 38.63 | 38.63 | 33.91 | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Intangible Assets | 4.17 | 5.28 | 5.52 | 5.88 | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Total Non-current Assets | 33.67 | 44.37 | 44.59 | 40.25 | 0.31 | 0.31 | 0.29 | 0.19 | 0.22 | 0.25 | 0.22 | 0.23 | 0.27 | 0.24 | 0.25 | 0.25 |
| Total Assets | 39.87 | 54.38 | 51.48 | 44.11 | 4.68 | 5.70 | 6.24 | 7.36 | 3.83 | 4.81 | 5.21 | 6.54 | 7.66 | 9.67 | 6.83 | 8.60 |
| Accounts Payable | 0.71 | 0.49 | 0.27 | 0.15 | 0.03 | 0.09 | 0.04 | 0.06 | 0.03 | 0.05 | 0.04 | 0.17 | 0.17 | 0.06 | 0.18 | 0.10 |
| Total Current Liabilities | 6.87 | 11.64 | 6.54 | 8.20 | 2.52 | 2.56 | 2.43 | 2.39 | 2.37 | 2.29 | 1.72 | 2.05 | 2.01 | 0.27 | 0.39 | 0.88 |
| Long-term Debt | -- | -- | -- | 1.25 | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Total Non-current Liabilities* | 0.99 | 0.28 | 4.46 | 0.23 | 0.29 | 0.30 | 0.30 | 0.28 | 0.30 | 0.32 | 0.34 | 0.36 | 0.40 | 0.69 | 2.28 | 3.38 |
| Total Liabilities | 7.86 | 11.92 | 11.01 | 8.43 | 2.81 | 2.86 | 2.73 | 2.67 | 2.67 | 2.61 | 2.06 | 2.41 | 2.40 | 0.96 | 2.67 | 4.26 |
| Retained Earnings | (112.14) | (76.86) | (75.99) | (72.30) | (68.37) | (67.37) | (66.68) | (65.28) | (64.56) | (63.48) | (60.33) | (59.37) | (58.07) | (54.46) | (47.79) | (47.57) |
| Total Stockholder Equity | 32.02 | 42.46 | 40.48 | 35.67 | 1.87 | 2.84 | 3.50 | 4.69 | 1.17 | 2.20 | 3.15 | 4.13 | 5.26 | 8.71 | 4.16 | 4.35 |
* 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 | 0.65 | 0.31 | 0.72 | 0.49 | 1.02 | 0.44 | 0.38 | 0.82 | 0.92 | 1.18 | 0.46 | 0.29 | 0.35 | (0.10) | 0.10 | 0.49 | 0.27 | 0.78 | 0.50 | 0.32 |
| Cost of Revenue | 0.71 | 0.68 | 0.53 | 0.53 | 0.66 | 0.16 | 0.24 | 0.39 | 0.26 | 0.44 | 0.11 | 0.08 | 0.12 | 0.20 | 0.02 | 0.20 | 0.17 | 0.52 | 0.27 | 0.11 |
| Gross Profit | (0.05) | (0.37) | 0.19 | (0.04) | 0.37 | 0.28 | 0.13 | 0.43 | 0.66 | 0.74 | 0.35 | 0.22 | 0.24 | (0.30) | 0.08 | 0.28 | 0.11 | 0.26 | 0.23 | 0.21 |
| Research & Development | 0.47 | 0.04 | 0.22 | 0.97 | 0.53 | 0.35 | 0.25 | 0.19 | 0.12 | 0.06 | 0.03 | 0.04 | 0.06 | 0.11 | 0.05 | 0.06 | 0.07 | 0.12 | 0.05 | 0.06 |
| Selling, General & Admin | 2.42 | 2.64 | 1.40 | 2.25 | 1.34 | 1.13 | 0.67 | 0.72 | 0.95 | 1.14 | 0.80 | 0.96 | 1.02 | 1.10 | 0.74 | 1.16 | 0.94 | 2.40 | 0.80 | 0.84 |
| Total Operating Expenses | 3.66 | 14.44 | 2.44 | 3.94 | 2.22 | 1.65 | 1.10 | 1.10 | 1.23 | 1.44 | 1.02 | 1.23 | 1.29 | 1.41 | 1.00 | 1.55 | 1.22 | 2.77 | 1.10 | 1.20 |
| Operating Income | (3.71) | (14.81) | (2.25) | (3.98) | (1.85) | (1.37) | (0.97) | (0.67) | (0.57) | (0.70) | (0.67) | (1.01) | (1.05) | (1.71) | (0.92) | (1.27) | (1.11) | (2.51) | (0.87) | (0.99) |
| Interest Expense | -- | -- | -- | 0.14 | 0.05 | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 | 0.04 | 0.03 | 0.03 | -- | -- | -- | -- | -- | -- | -- |
| Pretax Income | (3.79) | (12.65) | 0.55 | (3.91) | (2.48) | (1.43) | (0.99) | (0.68) | (0.58) | (0.80) | (0.72) | (1.06) | (1.09) | (2.06) | (0.94) | (1.29) | (1.12) | (2.53) | (6.60) | (0.22) |
| Tax Provision | 0.03 | (0.42) | 0.04 | 0.06 | 0.02 | 0.01 | 0.00 | 0.00 | 0.01 | 0.01 | 0.00 | 0.01 | 0.00 | -0.00 | 0.02 | 0.02 | 0.01 | (0.05) | 0.07 | -0.00 |
| Net Income | (3.82) | (12.23) | 0.51 | (3.97) | (2.49) | (1.43) | (1.00) | (0.69) | (0.59) | (0.81) | (0.73) | (1.07) | (1.10) | (2.06) | (0.95) | (1.30) | (1.13) | (2.47) | (6.67) | (0.22) |
| Basic EPS | (6.88) | (20.00) | (0.91) | (1.03) | -- | (12.89) | (0.36) | (0.25) | (0.23) | (0.38) | (0.42) | (0.65) | (0.67) | (3.72) | (0.03) | (0.05) | (0.04) | -- | -- | -- |
| Diluted EPS | (6.88) | (28.73) | (0.91) | (1.03) | 3.98 | (12.89) | (0.36) | (0.25) | (0.23) | (0.39) | (0.42) | (0.65) | -- | -- | -- | -- | -- | -- | -- | -- |
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 | (4.31) | (2.68) | (1.97) | (3.38) | (1.34) | (0.55) | (0.84) | (0.55) | (0.58) | (0.49) | (0.68) | (1.23) | (1.20) | (1.33) | (1.96) | (2.00) | (1.74) | (0.86) | (0.63) | (1.92) |
| Capital Expenditures | 0.02 | 0.02 | 0.03 | 0.00 | 0.01 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -0.00 | 0.00 | 0.00 | -- | 0.00 | 0.00 | 0.00 |
| Free Cash Flow* | (4.33) | (2.70) | (2.00) | (3.39) | (1.35) | (0.55) | (0.84) | (0.56) | (0.58) | (0.49) | (0.68) | (1.23) | (1.20) | (1.33) | (1.97) | (2.00) | -- | (0.86) | (0.63) | (1.92) |
| Investing Cash Flow | (0.02) | (0.02) | (0.03) | -0.00 | 0.14 | 0.00 | 0.00 | -0.00 | -0.00 | 0.00 | 0.00 | 0.00 | -0.00 | 0.00 | -0.00 | -0.00 | -- | 0.00 | -0.00 | 0.00 |
| Financing Cash Flow | 2.34 | (0.03) | 4.92 | 6.85 | 1.05 | 0.00 | (0.03) | 0.03 | -- | 0.00 | 4.22 | 0.00 | 0.01 | -- | -- | -- | -- | 0.00 | 3.56 | (0.39) |
* Derived from reported values
