Financial Statements — GANX
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 | 16.54 | 8.81 | 6.69 | 9.07 | 12.05 | 16.94 | 10.64 | 4.27 | 6.32 | 5.99 | 10.88 | 14.31 | 34.34 | 40.98 | 43.16 | 46.59 |
| Short-term Investments | -- | -- | -- | -- | -- | -- | 2.02 | 7.96 | 9.87 | 11.83 | 11.85 | 9.94 | -- | -- | -- | -- |
| Accounts Receivable | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | 0.02 | 0.35 | 0.00 |
| Total Current Assets | 18.22 | 10.52 | 9.31 | 11.15 | 13.74 | 18.54 | 13.86 | 13.24 | 17.31 | 19.32 | 24.35 | 25.83 | 36.39 | 41.55 | 44.34 | 47.38 |
| Property, Plant & Equipment | 0.05 | 0.09 | 0.10 | 0.10 | 0.12 | 0.12 | 0.11 | 0.13 | 0.14 | 0.14 | 0.14 | 0.14 | 0.11 | 0.10 | 0.08 | 0.05 |
| Total Non-current Assets | 0.52 | 0.45 | 0.53 | 0.47 | 0.62 | 0.66 | 0.71 | 0.86 | 0.95 | 2.00 | 3.98 | 6.06 | 1.21 | 1.01 | 1.02 | 0.66 |
| Total Assets | 18.74 | 10.97 | 9.83 | 11.62 | 14.37 | 19.20 | 14.58 | 14.10 | 18.26 | 21.32 | 28.33 | 31.89 | 37.60 | 42.56 | 45.35 | 48.04 |
| Accounts Payable | 1.52 | 1.58 | 2.71 | 2.15 | 1.10 | 2.05 | 1.41 | 1.38 | 0.92 | 2.21 | 1.02 | 0.95 | 2.12 | 0.79 | 0.98 | 0.88 |
| Total Current Liabilities | 3.89 | 4.17 | 5.20 | 5.03 | 4.59 | 6.52 | 5.00 | 5.76 | 5.59 | 5.15 | 4.33 | 3.41 | 4.22 | 3.58 | 2.45 | 2.33 |
| Long-term Debt | 0.37 | 0.42 | 0.45 | 0.43 | 0.49 | 0.49 | 0.51 | 0.54 | 0.58 | 0.59 | 0.59 | 0.63 | 0.65 | 0.62 | 0.65 | 0.68 |
| Total Non-current Liabilities | 0.84 | 0.89 | 0.94 | 0.82 | 0.86 | 0.89 | 0.93 | 1.00 | 1.58 | 1.03 | 1.33 | 1.46 | 1.55 | 1.44 | 1.51 | 1.25 |
| Total Liabilities* | 4.73 | 5.06 | 6.14 | 5.84 | 5.46 | 7.41 | 5.94 | 6.77 | 7.17 | 6.18 | 5.66 | 4.87 | 5.77 | 5.02 | 3.96 | 3.58 |
| Retained Earnings | (101.36) | (81.19) | (81.19) | (81.19) | (60.78) | (60.78) | (60.78) | -- | -- | (38.52) | (20.93) | (20.93) | (20.93) | (7.03) | (7.03) | (7.03) |
| Total Stockholder Equity | 14.01 | 5.91 | 3.70 | 5.78 | 8.91 | 11.78 | 8.64 | 7.33 | 11.09 | 15.14 | 22.66 | 27.02 | 31.83 | 37.55 | 41.39 | 44.46 |
* 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 | -- | -- | -- | -- | -- | -- | -- | -- | -- | 0.00 | 0.00 | 0.00 | 0.06 | 0.00 | 0.00 | 0.10 | 0.04 | 0.04 | 0.02 | 0.08 |
| Research & Development | 2.76 | 2.35 | 2.85 | 2.76 | 2.26 | 1.22 | 2.62 | 4.44 | 2.51 | 2.37 | 2.37 | 3.99 | 2.79 | 2.27 | 1.96 | 2.58 | 1.56 | 1.47 | 2.48 | 1.79 |
| Selling, General & Admin | 2.59 | 2.12 | 1.94 | 2.33 | 2.11 | 2.11 | 1.84 | 3.75 | 1.87 | 2.03 | 2.52 | 3.74 | 2.49 | 2.29 | 2.79 | 2.69 | 1.78 | 1.78 | 2.19 | 1.81 |
| Total Operating Expenses | 5.35 | 4.47 | 4.79 | 5.09 | 4.37 | 3.33 | 4.46 | 8.18 | 4.38 | 4.41 | 4.89 | 7.73 | 5.28 | 4.56 | 4.75 | 5.27 | 3.33 | 3.25 | 4.66 | 3.60 |
| Operating Income | (5.35) | (4.47) | (4.79) | (5.09) | (4.37) | (3.33) | (4.46) | (8.18) | (4.38) | (4.41) | (4.89) | (7.73) | (5.23) | (4.56) | (4.75) | (5.18) | (3.29) | (3.21) | (4.64) | (3.51) |
| Pretax Income | (5.43) | (4.47) | (4.74) | (5.67) | (4.43) | (3.26) | (4.47) | (8.14) | (3.99) | (4.71) | (4.70) | (7.66) | (5.12) | (4.60) | (4.55) | (5.08) | (3.27) | (3.23) | (4.66) | (3.55) |
| Tax Provision | 0.18 | 0.07 | 0.55 | 0.14 | 0.10 | 0.50 | 0.01 | 0.00 | 0.02 | 0.01 | 0.02 | 0.03 | 0.02 | 0.08 | 0.00 | 0.01 | 0.00 | (0.01) | 0.01 | 0.00 |
| Net Income | (5.61) | (4.54) | (5.28) | (5.81) | (4.53) | (3.77) | (4.49) | (8.14) | (4.01) | (4.72) | (4.72) | (7.69) | (5.14) | (4.67) | (4.56) | (5.09) | (3.27) | (3.22) | (4.66) | (3.56) |
| Basic EPS | (0.13) | (0.11) | (0.15) | (0.19) | (0.16) | (0.08) | (0.17) | (0.42) | (0.22) | (0.29) | (0.37) | (0.62) | (0.43) | (0.39) | (0.38) | (0.43) | (0.28) | (0.26) | (0.39) | (0.30) |
| Diluted EPS | (0.13) | (0.11) | (0.15) | (0.19) | (0.16) | (0.08) | (0.17) | (0.42) | (0.22) | (0.29) | (0.37) | (0.62) | (0.43) | (0.39) | (0.38) | (0.43) | (0.28) | (0.26) | (0.39) | (0.30) |
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 | (4.73) | (4.62) | (4.93) | (5.10) | (3.82) | (3.45) | (6.08) | (5.76) | (3.59) | (5.66) | (3.97) | (5.02) | (4.22) | (3.90) | (3.29) | (5.05) | (2.45) | (4.15) | (2.19) | (3.22) |
| Capital Expenditures | -- | -- | -- | -- | -- | 0.00 | 0.00 | 0.02 | -- | 0.00 | 0.00 | 0.00 | 0.01 | -- | 0.06 | 0.04 | 0.01 | 0.01 | 0.03 | 0.02 |
| Free Cash Flow* | -- | -- | -- | -- | -- | (3.46) | (6.08) | (5.78) | -- | (5.66) | (3.97) | (5.03) | (4.23) | -- | (3.35) | (5.10) | (2.46) | (4.16) | (2.22) | (3.24) |
| Investing Cash Flow | -- | -- | -- | -- | -- | (0.04) | -0.00 | 2.00 | 3.02 | 3.14 | 1.93 | 3.05 | 2.11 | 0.13 | (0.01) | (14.89) | (0.01) | (0.01) | (0.03) | (0.02) |
| Financing Cash Flow | 0.40 | 16.55 | 7.03 | 2.47 | 2.40 | 2.31 | 0.81 | 10.04 | (0.15) | 9.56 | 0.13 | 2.20 | 0.75 | (0.02) | (0.02) | 0.00 | (0.04) | (0.01) | 0.00 | (0.21) |
* Derived from reported values
