Financial Statements — FENC
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 |
|---|
| Cash & Equivalents | 40.18 | 21.95 | 18.70 | 22.68 | 40.32 | 43.05 | 51.18 | 12.40 | 14.96 | 18.39 | 29.75 | 14.92 | 18.26 | 24.34 | 27.29 |
| Total Current Assets | 66.88 | 46.06 | 40.79 | 42.98 | 57.97 | 62.17 | 68.17 | 18.95 | 19.33 | 21.66 | 30.15 | 15.55 | 19.13 | -- | 28.07 |
| Total Non-current Assets | 4.94 | 3.20 | 4.08 | 3.43 | 0.96 | 0.99 | 1.02 | 0.08 | 0.11 | 0.16 | 0.26 | 0.01 | 0.02 | 0.04 | 0.04 |
| Total Assets | 71.82 | 49.26 | 44.88 | 46.40 | 58.92 | 63.16 | 69.19 | 19.03 | 19.44 | 21.82 | 30.42 | 15.57 | 19.15 | 26.01 | 28.12 |
| Accounts Payable | 6.28 | 5.87 | 5.94 | 5.28 | 3.87 | 4.45 | 5.20 | 2.94 | 3.01 | 2.95 | 2.53 | 1.74 | 1.22 | 1.15 | 0.68 |
| Total Current Liabilities | 9.59 | 9.82 | 8.41 | 8.37 | 7.44 | 7.75 | 9.84 | 3.91 | 3.78 | 4.02 | 2.93 | 3.04 | 2.14 | 2.01 | 0.85 |
| Long-term Debt | -- | 19.38 | 19.36 | 19.35 | 32.10 | 31.78 | 31.35 | 25.64 | 25.39 | 25.14 | 24.69 | 4.00 | 4.50 | -- | -- |
| Total Non-current Liabilities | 24.56 | 43.94 | 43.93 | 43.91 | 56.66 | 56.77 | 56.34 | 25.65 | 25.39 | 25.14 | 24.69 | 3.99 | 4.49 | 4.99 | 4.99 |
| Total Liabilities | 34.15 | 53.75 | 52.34 | 52.28 | 64.09 | 64.52 | 66.18 | 29.56 | 29.16 | 29.16 | 27.62 | 7.03 | 6.63 | 7.00 | 5.83 |
| Retained Earnings | (229.22) | (224.64) | (224.00) | (220.85) | (217.70) | (211.96) | (206.41) | (216.56) | (214.70) | (209.25) | (196.34) | (188.25) | (183.18) | (175.06) | (170.87) |
| Total Stockholder Equity | 37.67 | (4.49) | (7.46) | (5.88) | (5.17) | (1.36) | 3.01 | (10.53) | (9.73) | (7.34) | 2.80 | 8.54 | 12.52 | 19.01 | 22.28 |
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 | 15.11 | 13.78 | 12.46 | 9.65 | 8.75 | 7.93 | 6.97 | 7.26 | 25.38 | 9.74 | 6.52 | -- | -- | -- | -- | -- | -- | 0.17 | -- | -- |
| Cost of Revenue | -- | -- | -- | -- | -- | -- | -- | -- | -- | 0.69 | 0.33 | 0.15 | 0.10 | -- | -- | -- | -- | -- | -- | -- |
| Gross Profit | -- | -- | -- | -- | -- | -- | -- | -- | -- | 9.05 | 6.18 | 3.18 | 1.58 | -- | -- | -- | -- | -- | -- | -- |
| Research & Development | 0.05 | 0.02 | 0.03 | 0.11 | 0.09 | 0.05 | 0.10 | 0.16 | 0.00 | 0.03 | 0.01 | 0.01 | 0.00 | 0.12 | 0.85 | 1.13 | 1.44 | 0.52 | 1.24 | 0.80 |
| Selling, General & Admin | 3.19 | 8.44 | 6.75 | 6.96 | 6.15 | 4.20 | 6.12 | 6.86 | 5.87 | 6.97 | 3.81 | 5.50 | 4.32 | 4.68 | 7.05 | 3.88 | 2.11 | 3.68 | 2.93 | 3.12 |
| Total Operating Expenses | 15.23 | 16.33 | 12.65 | 12.38 | 9.56 | 8.86 | 12.18 | 12.30 | 11.63 | 26.55 | 7.20 | (7.84) | 6.85 | 17.60 | -- | -- | -- | -- | -- | -- |
| Operating Income | (0.12) | (2.55) | (0.19) | (2.73) | (0.81) | (0.93) | (5.20) | (5.04) | 13.74 | (1.82) | (1.02) | (4.67) | (5.27) | (6.13) | (7.90) | (5.01) | (3.55) | (4.21) | (4.17) | (3.92) |
| Interest Expense | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | 0.01 |
| Net Income | 0.20 | (4.79) | (0.64) | (3.15) | (1.16) | (1.98) | (5.73) | (5.55) | 12.84 | (2.68) | (1.87) | (5.44) | (6.05) | (6.86) | (8.09) | (5.07) | (3.70) | (4.43) | (4.18) | (4.00) |
| Basic EPS | 0.01 | (0.17) | (0.02) | (0.11) | (0.04) | (0.02) | (0.21) | (0.20) | 0.41 | (0.09) | (0.07) | (0.21) | (0.23) | (0.26) | (0.31) | (0.19) | (0.14) | (0.17) | (0.16) | (0.15) |
| Diluted EPS | 0.01 | (0.17) | (0.02) | (0.11) | (0.04) | (0.02) | (0.21) | (0.20) | 0.41 | (0.09) | (0.07) | (0.21) | (0.23) | (0.26) | (0.31) | (0.19) | (0.14) | (0.17) | (0.16) | (0.15) |
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 | 2.38 | (5.96) | 1.49 | (3.69) | (4.32) | (1.47) | (2.21) | (8.39) | 39.05 | (4.86) | (2.76) | (3.95) | (5.58) | (6.80) | (5.01) | (3.39) | (2.86) | (3.24) | (2.96) | (4.43) |
| Financing Cash Flow | 1.01 | 20.80 | 1.75 | (0.28) | 0.36 | (12.21) | (0.53) | 0.26 | (1.13) | 5.73 | 0.20 | 0.51 | 0.19 | 0.82 | 19.85 | 0.05 | 0.02 | 0.01 | 0.00 | 4.97 |
