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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 | 247,000 | 1M | 764,000 | 377,000 |
| Cost of revenue | 3M | 2M | 2M | 178,000 |
| Gross profit | −3M | −486,000 | −1M | −178,000 |
| Research and development | 4M | 5M | 5M | 4M |
| Selling, general and administrative | 15M | 4M | 3M | 2M |
| Operating income | −53M | −11M | −12M | −8M |
| Interest expense | 160,000 | 171,000 | — | — |
| Net income | −56M | −11M | −12M | −8M |
| Earnings per share | −0.94 | −1.09 | −1.99 | −1.51 |
| Earnings per share, diluted | −0.94 | −1.09 | −1.99 | −1.51 |
| Weighted average shares | 59,291 | 10,070 | 5,912 | 5M |
| Weighted average shares, diluted | 59,291 | 10,070 | 5,912 | 5M |
| Metric | 18 Aug 2026 | 31 Dec 2025 | 31 Dec 2024 | 31 Dec 2023 | 31 Dec 2022 | 31 Dec 2021 |
|---|---|---|---|---|---|---|
| Cash and equivalents | — | 27M | 8M | — | — | — |
| Inventory | — | — | 2M | 3M |
| Metric | 31 Dec 2025 | 31 Dec 2024 | 31 Dec 2023 | 31 Dec 2022 |
|---|---|---|---|---|
| Operating cash flow | −14M | −10M | −12M | −11M |
| Depreciation and amortisation | 364,000 | 374,000 | 239,000 | 131,000 |
| Share-based compensation | 7M | 369,000 | −219,000 | −2M |
| Capital expenditure |
Amounts in USD unless stated otherwise. Data: US exchange trading and company filings with the regulator
| — |
| Current assets | — | 29M | 11M | 10M | — | — |
| Property, plant and equipment | — | 289,000 | 927,000 | 2M | — | — |
| Total assets | — | 123M | 13M | 13M | — | — |
| Current liabilities | — | 3M | 5M | 3M | — | — |
| Total liabilities | — | 3M | 6M | 4M | — | — |
| Equity | — | 119M | 7M | 9M | 21M | 3M |
| Shares outstanding | — | 162M | 12M | 6M | — | — |
| Shares issued | — | 162M | 12M | 6M | — | — |
| 93,000 |
| 67,000 |
| 1M |
| 500,000 |
| Investing cash flow | −122M | 159,000 | −1M | −500,000 |
| Financing cash flow | 155M | 11M | — | 28M |