Financial Statements — FTFT
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 | 1.35 | 6.89 | 5.79 | 4.44 | 6.52 | 9.82 | 14.89 | 33.40 | 36.79 | 19.80 | 32.96 | 42.03 | 53.64 | 52.97 | 72.02 | 42.12 |
| Short-term Investments | 0.00 | 0.00 | 0.00 | 0.00 | -- | -- | 0.96 | 0.95 | 1.06 | 1.18 | 0.97 | 1.26 | 1.80 | -- | -- | -- |
| Accounts Receivable | 0.67 | 1.44 | 1.64 | 1.66 | 3.41 | 5.26 | 4.62 | 3.23 | 2.71 | 4.34 | 1.45 | 1.38 | 7.82 | 9.44 | 2.20 | -- |
| Inventory | -- | -- | -- | -- | -- | -- | -- | -- | 0.49 | 0.50 | 0.65 | 0.62 | 0.64 | -- | -- | -- |
| Total Current Assets | 49.51 | 50.33 | 20.30 | 19.07 | 45.14 | 51.21 | 53.62 | 50.66 | 71.20 | 65.19 | 66.36 | 66.45 | 73.32 | 76.57 | 80.26 | 47.87 |
| Property, Plant & Equipment | 0.13 | 2.42 | 2.42 | 2.44 | 4.52 | 4.59 | 4.61 | 4.63 | 4.38 | 4.41 | 3.35 | 2.96 | 3.14 | 0.63 | 0.04 | 0.02 |
| Goodwill | -- | -- | -- | -- | -- | -- | -- | 13.98 | 13.98 | 13.98 | 15.73 | 15.69 | 15.61 | 16.73 | -- | -- |
| Intangible Assets | 0.43 | 0.36 | 0.38 | 0.39 | 0.42 | 0.43 | 0.45 | 0.48 | 0.49 | 0.50 | 0.65 | 0.62 | 0.64 | 0.04 | 0.04 | 0.04 |
| Total Non-current Assets* | 2.38 | 4.00 | 4.27 | 4.57 | 8.26 | 7.09 | 6.29 | 19.88 | 19.73 | 19.87 | 20.05 | 19.28 | 19.44 | 17.55 | 0.65 | 0.48 |
| Total Assets | 51.89 | 54.34 | 24.58 | 23.64 | 53.40 | 58.30 | 59.91 | 70.54 | 90.93 | 85.06 | 86.41 | 85.73 | 92.77 | 94.12 | 80.90 | 48.36 |
| Accounts Payable | 2.44 | 3.58 | 4.50 | 2.36 | 1.76 | 2.87 | 2.25 | 2.49 | 2.93 | 1.55 | 1.55 | 1.30 | 0.89 | 0.31 | 1.61 | 1.82 |
| Short-term Debt | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | 4.65 | -- | -- | -- |
| Total Current Liabilities | 7.26 | 9.79 | 8.83 | 12.57 | 16.85 | 17.73 | 17.54 | 11.52 | 29.41 | 20.36 | 11.77 | 6.97 | 10.24 | 3.44 | 3.35 | 3.06 |
| Long-term Debt | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | 0.18 | -- | -- | -- | -- |
| Total Non-current Liabilities | 1.11 | 1.16 | 1.20 | 0.15 | 0.81 | 0.86 | 0.75 | 0.51 | 0.59 | 0.68 | 3.81 | 3.74 | 3.66 | 7.01 | 1.23 | 0.90 |
| Total Liabilities | 8.37 | 10.95 | 10.03 | 12.72 | 17.65 | 18.59 | 18.29 | 12.03 | 30.00 | 21.04 | 15.58 | 10.71 | 13.90 | 10.44 | 4.57 | 3.96 |
| Retained Earnings | (224.78) | (223.57) | (221.61) | (223.46) | (195.90) | (191.02) | (189.26) | (158.33) | (155.92) | (154.45) | (146.78) | (143.25) | (141.14) | (135.90) | (125.59) | (125.18) |
| Total Stockholder Equity | 43.52 | 43.39 | 14.55 | 10.92 | 37.40 | 41.31 | 43.19 | 59.97 | 62.35 | 65.37 | 71.93 | 76.02 | 79.63 | 83.91 | 76.38 | 44.45 |
* 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 | 0.21 | 1.35 | 1.32 | 0.61 | 0.55 | 0.18 | 5.18 | 4.20 | 5.12 | 3.91 | 23.75 | 3.81 | 3.39 | 1.04 | 11.96 | 7.42 | 3.47 | 11.36 | 11.75 | 1.94 |
| Cost of Revenue* | 0.14 | 1.33 | 1.20 | 0.42 | 0.47 | 3.97 | 3.66 | 2.61 | 3.17 | 2.88 | 22.36 | 2.55 | 2.19 | 0.30 | 10.47 | 6.04 | 1.68 | 10.61 | 10.76 | 1.87 |
| Gross Profit | 0.07 | 0.02 | 0.12 | 0.19 | 0.08 | (3.79) | 1.51 | 1.59 | 1.95 | 1.03 | 1.39 | 1.26 | 1.21 | 0.74 | 1.49 | 1.38 | 1.79 | 0.75 | 0.98 | 0.07 |
| Research & Development | -- | -- | -- | -- | 1.58 | 0.31 | 0.00 | 0.00 | 0.00 | 0.00 | 0.02 | 0.12 | 0.21 | 0.68 | -- | -- | -- | -- | -- | -- |
| Selling, General & Admin | 1.40 | 0.59 | 1.32 | 0.85 | -- | (3.92) | 3.32 | 3.39 | 3.42 | 1.60 | 3.83 | 2.55 | 3.48 | 4.85 | 3.56 | 2.65 | 3.41 | 3.24 | 2.24 | 0.59 |
| Total Operating Expenses | 1.40 | (0.53) | 2.22 | 1.50 | 31.23 | 20.57 | 6.82 | 3.31 | 4.48 | 19.90 | 3.98 | 1.60 | 3.84 | 7.69 | 6.13 | 4.22 | 4.46 | 4.95 | 7.84 | 0.60 |
| Operating Income | (1.32) | 0.55 | (2.10) | (1.31) | (31.15) | (24.36) | (5.31) | (1.71) | (2.53) | (18.87) | (2.59) | (0.34) | (2.63) | (6.96) | (4.64) | (2.84) | (2.68) | (4.21) | (6.86) | (0.53) |
| Pretax Income | (1.28) | 0.11 | (1.97) | 1.85 | (30.95) | (23.53) | (4.93) | (1.80) | (3.97) | (28.13) | (2.44) | (1.61) | (2.22) | -- | (3.43) | (2.21) | (2.51) | (2.70) | (6.63) | (0.38) |
| Tax Provision | -- | -- | -- | -- | -- | -- | -- | 0.04 | 0.03 | -- | 0.01 | -- | -- | (0.45) | 0.20 | 0.12 | 0.19 | -- | -- | -- |
| Net Income | (1.28) | 0.07 | (1.97) | 1.85 | (4.57) | (22.99) | (4.88) | (1.76) | (3.33) | (27.60) | (2.41) | (1.54) | (2.25) | 8.36 | (3.63) | (2.11) | (2.70) | 25.90 | (10.49) | (0.40) |
| Basic EPS | (0.25) | (2.88) | (0.33) | 0.61 | (1.87) | (4.28) | (0.24) | (0.09) | -- | (7.48) | (0.16) | -- | -- | -- | (0.05) | (0.03) | -- | -- | -- | -- |
| Diluted EPS | (0.25) | (2.80) | (0.33) | 0.61 | (1.89) | (4.28) | (0.24) | (0.09) | (0.17) | (7.48) | (0.16) | -- | (0.15) | (3.32) | (0.05) | (0.03) | (0.04) | (0.12) | (0.16) | (0.01) |
* 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 | (1.53) | (3.06) | (0.98) | 1.11 | (28.84) | (7.71) | (1.58) | (3.78) | (8.15) | (10.80) | (0.42) | 4.43 | (10.44) | (3.28) | 5.71 | (5.13) | -0.00 | (0.86) | 2.21 | 0.08 |
| Capital Expenditures | -- | -- | -- | -- | -- | (0.33) | 0.01 | 0.21 | 0.15 | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | 0.01 |
| Free Cash Flow* | -- | -- | -- | -- | -- | (7.39) | (1.59) | (3.99) | (8.30) | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | 0.08 |
| Investing Cash Flow | -- | -- | -- | -- | -- | -- | (1.26) | 0.08 | -- | -- | (1.00) | 14.48 | 0.16 | -- | -- | -- | 0.41 | -- | -- | -- |
| Financing Cash Flow | -- | -- | -- | -- | (0.01) | -- | (1.03) | (0.21) | 2.55 | 1.09 | (2.91) | -- | -- | 0.00 | (4.39) | 0.58 | 3.56 | 1.01 | 2.75 | 32.26 |
* Derived from reported values