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Company reports as filed with the U.S. Securities and Exchange Commission.
| Metric | 31 Dec 2025 | 31 Dec 2024 |
|---|---|---|
| Revenue | 4M | 1M |
| Cost of revenue | 5M | — |
| Research and development | 117M | 82M |
| Selling, general and administrative | 74M | 34M |
| Operating expenses | — | 116M |
| Operating income | −191M | −115M |
| Net income | −161M | −88M |
| Earnings per share | −2.08 | −1.41 |
| Earnings per share, diluted | −2.08 | −1.41 |
| Weighted average shares | 77M | 62M |
| Weighted average shares, diluted | 77M | 62M |
| Metric | 31 Mar 2026 | 31 Dec 2025 | 30 Sept 2025 | 31 Jul 2025 | 30 Jun 2025 | 31 Mar 2025 | 31 Dec 2024 | 30 Sept 2024 |
|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | 34M | 32M | 45M | — | 15M | 41M | 257M | 43M |
| Short-term investments | 1.04B | 710M |
| Metric | 31 Dec 2025 | 31 Dec 2024 |
|---|---|---|
| Operating cash flow | −132M | −79M |
| Depreciation and amortisation | 1M | 32,000 |
| Share-based compensation | 27M | 11M |
| Capital expenditure | 134,000 | 234,000 |
| Investing cash flow | −246M | −301M |
| Financing cash flow | 154M |
Amounts in USD unless stated otherwise. Data: US exchange trading and company filings with the regulator
| 635M |
| — |
| 646M |
| 647M |
| 485M |
| 497M |
| Receivables | 1M | 688,000 | 515,000 | — | — | — | 0 | — |
| Inventory | 1M | 2M | 2M | — | — | — | 0 | — |
| Current assets | 1.10B | 759M | 696M | — | 673M | 701M | 754M | 552M |
| Property, plant and equipment | 15M | 16M | 15M | — | 253,000 | 264,000 | 272,000 | 63,000 |
| Goodwill | 10M | 10M | 13M | 10M | — | — | 0 | — |
| Total assets | 1.14B | 792M | 730M | — | 701M | 728M | 755M | 552M |
| Current liabilities | 35M | 31M | 31M | — | 30M | 23M | 21M | 16M |
| Long-term debt | 3M | 3M | 3M | — | — | — | 0 | — |
| Total liabilities | 43M | 39M | 42M | — | 31M | 23M | 21M | 16M |
| Equity | 1.09B | 753M | 688M | — | 670M | 705M | 733M | 537M |
| Shares outstanding | 88M | 81M | 78M | — | 76M | 76M | 76M | 68M |
| Shares issued | 88M | 81M | 78M | — | 76M | 76M | 76M | 68M |
| 628M |