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Company reports as filed with the U.S. Securities and Exchange Commission.
| Metric | 31/12/2025 | 31/12/2024 | 31/12/2023 | 31/12/2022 |
|---|---|---|---|---|
| Revenue | 413M | 56M | 380M | 236M |
| Cost of revenue | 367M | 289M | 220M | 139M |
| Gross profit | 46M | 117M | 160M | 97M |
| Research and development | 52M | 47M | 35M | 26M |
| Selling, general and administrative | 76M | 24M | 24M | 16M |
| Operating expenses | 150M | 12M | 80M | 53M |
| Operating income | −104M | 4M | 80M | 44M |
| Interest expense | 32,000 | — | — | 202,000 |
| Pre-tax income | −101M | 31M | 84M | 55M |
| Income tax | 96,000 | — | 21,000 | — |
| Net income | −94M | 20M | 70M | 53M |
| Earnings per share | −0.07 | 0.04 | 0.17 | 0.13 |
| Earnings per share, diluted | −0.07 | 0.04 | 0.15 | 0.11 |
| Weighted average shares | 1.25B | 466M | 417M | 417M |
| Weighted average shares, diluted | 1.25B | 516M | 466M | 466M |
| Metric | 19/08/2026 | 18/08/2026 | 31/12/2025 | 31/12/2024 | 31/12/2023 | 31/12/2022 | 31/12/2021 |
|---|---|---|---|---|---|---|---|
| Cash and equivalents | — | — | 64M | 93M | 75M | 55M | 52M |
| Short-term investments | — | — | 15M |
| Metric | 31/12/2025 | 31/12/2024 | 31/12/2023 | 31/12/2022 |
|---|---|---|---|---|
| Operating cash flow | −25M | 26M | 57M | 34M |
| Depreciation and amortisation | 39M | 4M | 13M | 11M |
| Share-based compensation | 42M | 7,000 | 16,000 | 13,000 |
| Capital expenditure |
Amounts in USD unless stated otherwise. Data: US exchange trading and company filings with the regulator
| 9M |
| 43M |
| — |
| — |
| Receivables | — | — | 27M | 7M | 14M | — | — |
| Inventory | — | — | 2M | 15,000 | 844,000 | — | — |
| Current assets | — | — | 121M | 22M | 148M | — | — |
| Property, plant and equipment | — | — | 2M | 2M | 1M | — | — |
| Total assets | — | — | 192M | 33M | 176M | — | — |
| Current liabilities | — | — | 79M | 10M | 50M | — | — |
| Short-term debt | — | — | 15M | — | — | — | — |
| Total liabilities | — | — | 82M | 79M | 56M | — | — |
| Equity | — | — | 84M | 132M | −143M | −205M | −254M |
| Shares outstanding | — | — | 1.42B | 1.15B | 417M | — | — |
| Shares issued | — | — | 1.42B | 1.15B | 417M | — | — |
| 784,000 |
| 158,000 |
| 476,000 |
| 688,000 |
| Investing cash flow | −24M | −30M | −31M | −24M |
| Financing cash flow | 19M | 22M | −6M | — |