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Company reports as filed with the U.S. Securities and Exchange Commission.
| Metric | 31 Dec 2025 | 31 Dec 2024 | 31 Dec 2023 | 31 Dec 2022 |
|---|---|---|---|---|
| Revenue | 28M | 343,000 | 845,000 | 3M |
| Cost of revenue | 29M | 306,000 | 1M | 3M |
| Gross profit | −716,000 | 37,000 | −531,000 | −441,000 |
| Research and development | 44M | 2M | 35,000 | 35,000 |
| Selling, general and administrative | — | 7M | 3M | 5M |
| Operating expenses | 44M | 7M | 3M | 7M |
| Operating income | −45M | −7M | −4M | −7M |
| Pre-tax income | −79M | −11M | 124,000 | −6M |
| Income tax | — | — | 1,000 | 17,000 |
| Net income | −28M | −14M | −574,000 | −13M |
| Earnings per share | −19.26 | −1.22 | −0.09 | −1.71 |
| Earnings per share, diluted | −19.26 | −1.22 | −0.09 | −1.71 |
| Weighted average shares | 1M | 11M | 7M | 8M |
| Weighted average shares, diluted | 1M | 11M | 7M | 8M |
| Metric | 19 Aug 2026 | 18 Aug 2026 | 31 Dec 2025 | 31 Dec 2024 | 31 Dec 2023 | 31 Dec 2022 |
|---|---|---|---|---|---|---|
| Cash and equivalents | — | — | 999,000 | 113,000 | 150,000 | 3M |
| Receivables | — | — | — | — | 19,000 |
| Metric | 31 Dec 2025 | 31 Dec 2024 | 31 Dec 2023 | 31 Dec 2022 |
|---|---|---|---|---|
| Operating cash flow | 7M | 23M | −2M | 614,000 |
| Depreciation and amortisation | 9M | 29,000 | 963,000 | 808,000 |
| Share-based compensation | 932,000 | 518,000 | 5,000 | 60,000 |
| Capital expenditure |
Amounts in USD unless stated otherwise. Data: US exchange trading and company filings with the regulator
| — |
| Current assets | — | — | 211M | 26M | 30M | — |
| Property, plant and equipment | — | — | 91M | 34M | 10M | — |
| Total assets | — | — | 312M | 60M | 72M | — |
| Current liabilities | — | — | 331,000 | 79M | 84M | — |
| Total liabilities | — | — | 331,000 | 82M | 93M | — |
| Equity | — | — | 312M | 11M | 12M | 13M |
| Shares outstanding | — | — | — | 14M | 4M | — |
| Shares issued | — | — | — | 16M | 5M | — |
| Treasury shares | — | — | 13,073 | 1M | 24,818 | — |
| — |
| 24M |
| — |
| — |
| Investing cash flow | −1M | −29M | — | — |
| Financing cash flow | 29M | 6M | −1M | 1M |