Financial Statements — CIRC
Balance Sheet
(in millions USD)| Metric | Q1
2026 | Q3
2025 | Q2
2025 | Q3
2024 | Q2
2024 | Q1
2024 | Q3
2023 | Q2
2023 | Q1
2023 | Q3
2022 | Q2
2022 | Q1
2022 | Q3
2021 |
|---|
| Cash & Equivalents | 24.10 | 0.08 | 0.37 | 1.40 | 0.44 | 1.47 | 3.73 | 4.79 | 5.04 | 4.45 | 7.85 | 8.86 | 11.31 |
| Short-term Investments | -- | -- | -- | -- | -- | -- | -- | -- | 1.53 | 2.50 | -- | 5.93 | -- |
| Accounts Receivable | 183.10 | 47.45 | 46.72 | 48.81 | 50.44 | 46.11 | 0.00 | -- | -- | -- | -- | -- | -- |
| Inventory | -- | -- | -- | -- | -- | -- | -- | -- | 0.17 | 0.25 | 0.25 | 0.23 | 0.21 |
| Total Current Assets | 327.91 | 71.70 | 68.12 | 74.48 | 72.67 | 72.68 | 3.73 | 4.82 | 6.70 | 7.51 | 8.25 | 9.37 | 11.85 |
| Property, Plant & Equipment | 1.60 | 0.25 | 0.27 | 0.32 | 0.36 | 0.28 | 0.67 | 0.71 | 0.56 | 0.55 | 0.26 | 0.26 | 0.28 |
| Goodwill | 448.75 | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Intangible Assets | 191.83 | 27.80 | 29.00 | 32.59 | 33.79 | 30.20 | -- | -- | -- | -- | -- | -- | -- |
| Total Non-current Assets* | 653.13 | 38.56 | 38.64 | 61.16 | 61.51 | 33.79 | 1.78 | 1.85 | 1.77 | 1.84 | 1.85 | 1.82 | 0.29 |
| Total Assets | 981.05 | 110.26 | 106.76 | 135.64 | 134.18 | 106.47 | 5.51 | 6.68 | 8.47 | 9.35 | 10.10 | 11.19 | 12.14 |
| Accounts Payable | 152.59 | 5.30 | 3.16 | 1.38 | 0.43 | 1.90 | 0.41 | 0.38 | 0.89 | 0.58 | 0.50 | 0.62 | 0.84 |
| Total Current Liabilities | 836.20 | 58.19 | 51.95 | 81.82 | 68.43 | 117.44 | 1.01 | 0.96 | 1.47 | 0.97 | 0.84 | 2.35 | 1.03 |
| Long-term Debt | 513.17 | 76.39 | 75.37 | 80.81 | 78.49 | 66.87 | -- | 0.10 | -- | -- | -- | -- | -- |
| Total Non-current Liabilities* | 90.11 | 74.13 | 73.28 | 37.59 | 42.76 | 3.07 | 2.74 | 2.81 | 2.77 | 2.87 | 2.89 | 1.53 | 1.65 |
| Total Liabilities | 926.31 | 132.32 | 125.23 | 119.41 | 111.19 | 120.51 | 3.75 | 3.76 | 4.24 | 3.84 | 3.72 | 3.89 | 2.68 |
| Retained Earnings | (225.66) | (167.76) | (156.94) | (66.83) | (59.78) | (146.22) | (22.89) | (21.63) | (20.23) | (17.27) | (16.35) | (15.35) | (13.02) |
| Total Stockholder Equity | 42.43 | (22.06) | (18.46) | 16.22 | 22.99 | (12.02) | 1.75 | 2.91 | 4.23 | 5.51 | 6.37 | 7.30 | 9.46 |
* Derived from reported values
Income Statement
(in millions USD) (except per-share rows)| Metric | Q1
2026 | Q4
2025 | Q3
2025 | Q2
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 |
|---|
| Total Revenue | 249.89 | 120.05 | 110.13 | 102.90 | 129.55 | 107.80 | 104.64 | 102.81 | -- | -- | -- | -- | 0.00 | 0.00 | 0.03 | 0.05 | 0.03 | 0.03 |
| Cost of Revenue | 228.46 | 109.07 | 97.73 | 91.48 | 116.21 | 95.92 | 93.15 | 91.62 | -- | -- | -- | -- | 0.00 | 0.00 | 0.00 | 0.03 | 0.01 | 0.00 |
| Gross Profit | 21.43 | 10.98 | 12.40 | 11.42 | 13.34 | 11.89 | 11.49 | 11.19 | -- | -- | -- | -- | 0.00 | 0.00 | 0.03 | 0.05 | 0.02 | 0.05 |
| Research & Development | -- | -- | -- | -- | -- | -- | -- | 0.32 | 0.48 | 0.41 | 0.58 | 0.78 | 0.44 | 0.43 | 0.37 | 0.33 | 0.40 | 0.09 |
| Selling, General & Admin | 32.00 | 33.13 | 19.89 | 18.87 | 17.98 | 17.15 | 18.55 | 0.75 | 0.76 | 0.88 | 0.86 | 0.98 | 0.81 | 0.49 | 0.63 | 0.58 | 1.00 | 0.36 |
| Total Operating Expenses | 36.33 | 34.36 | 21.12 | 20.10 | 29.75 | 18.40 | 19.80 | 1.07 | 1.24 | 1.29 | 1.44 | 1.76 | 1.25 | 0.92 | 0.99 | 0.92 | 1.39 | 0.45 |
| Operating Income | (14.90) | (23.38) | (8.72) | (8.68) | (5.94) | (6.51) | (8.31) | (9.45) | (1.24) | (1.29) | (1.44) | (1.76) | (1.25) | (0.92) | (0.96) | (0.87) | (1.37) | (0.40) |
| Interest Expense | -- | -- | -- | -- | -- | -- | -- | -- | -- | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.04 | -- | -- | 0.04 |
| Pretax Income | (30.76) | (27.14) | (10.81) | (10.71) | (43.54) | (8.27) | (72.13) | (10.73) | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Tax Provision | (0.07) | 0.01 | 0.01 | 0.01 | 25.11 | (1.22) | (17.22) | 0.01 | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Net Income | (30.75) | (27.15) | (10.82) | (10.72) | (72.42) | (7.05) | (54.91) | (1.10) | (1.24) | (1.27) | (1.40) | (1.72) | (1.24) | (0.93) | (0.99) | (0.94) | (1.40) | (0.64) |
| Basic EPS | (0.44) | (0.49) | (0.20) | (0.20) | 1.31 | (0.16) | (1.96) | (0.20) | (11.47) | (3.33) | (0.10) | (0.13) | (0.10) | (0.08) | (0.08) | (0.08) | -- | -- |
| Diluted EPS | (0.44) | (0.49) | (0.20) | (0.20) | 1.31 | (0.16) | (1.96) | (0.20) | (11.47) | (3.33) | (0.10) | (0.13) | (0.10) | (0.08) | (0.08) | -- | -- | -- |
Cash Flow Statement
(in millions USD)| Metric | Q1
2026 | Q4
2025 | Q3
2025 | Q2
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 |
|---|
| Operating Cash Flow | (9.89) | (8.18) | (1.26) | 5.04 | (0.43) | (1.34) | (4.22) | 14.57 | (1.02) | (1.05) | (1.81) | (1.12) | (0.75) | (0.90) | (0.98) | (1.03) | (0.97) | (1.02) |
| Capital Expenditures | 0.04 | 0.02 | 0.01 | 0.03 | 0.02 | 0.02 | 0.02 | 0.01 | 0.00 | 0.00 | 0.00 | 0.06 | 0.01 | 0.00 | 0.02 | 0.01 | 0.01 | 0.01 |
| Free Cash Flow* | (9.93) | (8.20) | (1.27) | 5.01 | (0.45) | (1.36) | (4.24) | 14.56 | (1.02) | (1.05) | (1.81) | (1.18) | (0.76) | (0.90) | (1.01) | (1.04) | (0.98) | (1.03) |
| Investing Cash Flow | (0.04) | (0.02) | (0.01) | (0.03) | (0.02) | (0.02) | (0.02) | (0.01) | 0.00 | -0.00 | 1.57 | 2.49 | (1.52) | (2.50) | (0.02) | 5.87 | -- | -- |
| Financing Cash Flow | 35.10 | 8.20 | 0.98 | (5.31) | (0.27) | 2.31 | 3.34 | (13.77) | (0.01) | (0.01) | (0.01) | 1.50 | -- | -- | 0.25 | -- | (0.34) | 12.33 |
* Derived from reported values
