Financial Statements — COE
Balance Sheet
(in millions USD)| Metric | FY
2025 | FY
2024 | FY
2023 | FY
2022 | FY
2021 | FY
2020 | FY
2019 |
|---|
| Cash & Equivalents | 54.06 | -- | 21.30 | 18.19 | 265.28 | 326.65 | 342.95 |
| Short-term Investments | -- | -- | -- | -- | 577.97 | 509.64 | 452.94 |
| Inventory | -- | -- | -- | -- | 1.08 | 1.94 | 0.31 |
| Total Current Assets | 60.40 | 40.09 | 29.78 | 26.57 | 964.32 | 247.92 | 1,190.50 |
| Property, Plant & Equipment | 2.00 | 0.36 | 0.14 | 0.03 | 17.02 | 3.25 | 20.34 |
| Goodwill | -- | -- | -- | -- | -- | 4.22 | 4.22 |
| Intangible Assets | 0.07 | 0.08 | 0.09 | 0.10 | 1.76 | 20.30 | 1.43 |
| Total Non-current Assets | 5.70 | 3.85 | 1.37 | 1.07 | 228.37 | 591.87 | 211.31 |
| Total Assets | 66.09 | 43.94 | 31.16 | 27.63 | 1,192.69 | 2,209.55 | 1,401.82 |
| Short-term Debt | -- | -- | -- | -- | -- | -- | 2.38 |
| Total Current Liabilities | 95.36 | 56.90 | 39.13 | 20.51 | 1,893.85 | 3,018.11 | 347.40 |
| Total Non-current Liabilities | 1.99 | 1.75 | 0.22 | 0.55 | 22.01 | 8.95 | 29.92 |
| Total Liabilities | 97.35 | 58.65 | 39.35 | 21.06 | 1,915.86 | 3,076.49 | 2,448.48 |
| Retained Earnings | (370.40) | (353.60) | (346.36) | (331.17) | (1,931.37) | (314.47) | (315.85) |
| Total Stockholder Equity | (31.36) | (15.00) | (8.34) | 6.58 | (723.17) | (132.86) | (1,046.66) |
Income Statement
(in millions USD) (except per-share rows)| Metric | FY
2025 | FY
2024 | FY
2023 | FY
2022 | FY
2021 | FY
2020 | FY
2019 |
|---|
| Total Revenue | 95.60 | 50.69 | 27.11 | 15.05 | 2,181.47 | 2,054.09 | 1,478.49 |
| Cost of Revenue | 24.94 | 11.16 | 6.32 | 3.19 | 557.97 | 580.42 | 63.19 |
| Gross Profit | 70.66 | 39.53 | 20.79 | 11.85 | 254.76 | 225.85 | 149.18 |
| Research & Development | 5.48 | 3.57 | 3.09 | 2.87 | 178.75 | 24.96 | 22.62 |
| Selling, General & Admin | 17.30 | 10.62 | 7.73 | 8.07 | 323.97 | 32.83 | 28.16 |
| Total Operating Expenses | 85.09 | 47.57 | 34.45 | 24.21 | 1,597.42 | 1,412.67 | 164.63 |
| Operating Income | (14.43) | (8.05) | (13.66) | (12.36) | 49.30 | 104.42 | (15.45) |
| Interest Expense | -- | -- | -- | -- | -- | 0.07 | 1.36 |
| Pretax Income | (15.62) | (7.05) | (14.91) | (12.78) | 74.44 | 21.89 | (14.27) |
| Tax Provision | 1.24 | 0.28 | 0.12 | 0.06 | (46.14) | (0.63) | 0.73 |
| Net Income | (16.80) | (7.23) | (15.03) | (42.56) | 120.57 | 146.96 | (104.42) |
| Basic EPS | (0.05) | -- | -- | -- | 0.37 | 0.07 | -- |
| Diluted EPS | (0.05) | -- | -- | -- | 0.35 | 0.07 | -- |
Cash Flow Statement
(in millions USD)| Metric | FY
2025 | FY
2024 | FY
2023 | FY
2022 | FY
2021 | FY
2020 | FY
2019 |
|---|
| Operating Cash Flow | 11.81 | 5.83 | 0.56 | (45.70) | (106.09) | 110.23 | 57.16 |
| Capital Expenditures | 2.29 | 0.31 | 0.29 | 0.01 | 24.20 | 3.37 | 1.38 |
| Free Cash Flow* | 9.52 | 5.52 | 0.27 | (45.71) | (130.29) | 106.86 | 55.78 |
| Investing Cash Flow | (0.95) | 0.47 | 2.45 | 2.51 | 633.93 | (734.27) | (59.31) |
| Financing Cash Flow | 0.22 | 0.24 | -- | 20.48 | (15.23) | 1.65 | (7.83) |
* Derived from reported values
