Financial Statements — INO
Balance Sheet
(in billions USD)| Metric | Q2
2026 | Q1
2026 | Q3
2025 | Q2
2025 | Q1
2025 | Q3
2024 | Q2
2024 | Q1
2024 | Q3
2023 | Q2
2023 | Q1
2023 | Q3
2022 | Q2
2022 | Q1
2022 | Q3
2021 | Q2
2021 | Q1
2021 |
|---|
| Cash & Equivalents | 0.03 | 0.03 | 0.04 | 0.02 | 0.04 | 0.02 | 0.03 | 0.02 | 0.02 | 0.05 | 0.03 | 0.02 | 0.04 | 0.06 | 0.07 | 0.06 | 0.08 |
| Short-term Investments | 0.01 | 0.01 | 0.01 | 0.02 | 0.03 | 0.06 | 0.08 | 0.09 | 0.15 | 0.14 | 0.20 | 0.26 | 0.31 | 0.30 | 0.33 | 0.38 | 0.43 |
| Accounts Receivable | -- | -- | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -- | -- | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.01 | 0.01 |
| Total Current Assets | 0.04 | 0.04 | 0.06 | 0.05 | 0.07 | 0.09 | 0.12 | 0.11 | 0.17 | 0.20 | 0.23 | 0.35 | 0.42 | 0.40 | 0.49 | 0.54 | 0.59 |
| Property, Plant & Equipment | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.01 | 0.01 | 0.01 | 0.01 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.01 |
| Goodwill | -- | -- | -- | -- | -- | -- | -- | -- | 0.00 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 |
| Intangible Assets | -- | -- | -- | -- | -- | -- | -- | -- | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Non-current Assets* | 0.01 | 0.01 | 0.01 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.03 | 0.03 | 0.04 | 0.04 | 0.05 | 0.05 | 0.05 | 0.07 |
| Total Assets | 0.05 | 0.05 | 0.07 | 0.07 | 0.09 | 0.11 | 0.13 | 0.13 | 0.19 | 0.23 | 0.27 | 0.39 | 0.46 | 0.45 | 0.54 | 0.59 | 0.65 |
| Accounts Payable | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | 0.02 | 0.07 | 0.11 | 0.04 | 0.03 | 0.03 | 0.03 |
| Total Current Liabilities | 0.04 | 0.04 | 0.07 | 0.03 | 0.03 | 0.02 | 0.03 | 0.02 | 0.04 | 0.05 | 0.06 | 0.09 | 0.13 | 0.06 | 0.05 | 0.05 | 0.04 |
| Total Non-current Liabilities* | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 |
| Total Liabilities | 0.05 | 0.04 | 0.08 | 0.04 | 0.04 | 0.03 | 0.04 | 0.03 | 0.05 | 0.06 | 0.07 | 0.13 | 0.16 | 0.09 | 0.08 | 0.08 | 0.07 |
| Retained Earnings | (1.84) | (1.83) | (1.82) | (1.77) | (1.75) | (1.71) | (1.69) | (1.65) | (1.60) | (1.56) | (1.53) | (1.43) | (1.40) | (1.29) | (1.10) | (1.04) | (0.96) |
| Total Stockholder Equity | 0.00 | 0.01 | (0.01) | 0.03 | 0.05 | 0.07 | 0.10 | 0.09 | 0.14 | 0.17 | 0.20 | 0.27 | 0.30 | 0.36 | 0.45 | 0.51 | 0.58 |
* Derived from reported values
Income Statement
(in millions USD) (except per-share rows)| Metric | Q2
2026 | Q1
2026 | Q4
2025 | Q3
2025 | Q2
2025 | Q1
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 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.07 | 0.12 | 0.00 | 0.10 | 0.00 | 0.10 | 0.39 | 0.23 | 0.11 | 0.12 | 9.15 | 0.78 | 0.20 | 0.84 | 0.29 |
| Research & Development | 10.83 | 14.07 | 10.26 | 13.33 | 14.52 | 16.09 | 12.88 | 18.73 | 23.09 | 20.91 | 17.25 | 15.50 | 23.74 | 30.18 | 42.12 | 33.09 | 56.46 | 55.98 | 92.30 | 47.09 |
| Selling, General & Admin | 7.80 | 7.88 | 7.22 | 7.88 | 8.56 | 9.02 | 7.60 | 8.61 | 10.21 | 10.57 | 10.24 | 9.93 | 13.52 | 13.89 | 13.95 | 11.82 | 48.46 | 15.95 | 14.05 | 13.16 |
| Total Operating Expenses | 18.62 | 21.95 | 17.48 | 21.21 | 23.08 | 25.12 | 20.49 | 27.35 | 33.30 | 31.48 | 27.50 | 35.94 | 37.27 | 44.07 | 56.07 | 44.91 | 104.92 | 71.93 | 106.35 | 60.24 |
| Operating Income | (18.62) | (21.95) | (17.48) | (21.21) | (23.08) | (25.05) | (20.37) | (27.35) | (33.20) | (31.48) | (27.39) | (35.55) | (37.04) | (43.95) | (55.95) | (35.76) | (104.14) | (71.73) | (105.51) | (59.95) |
| Interest Expense | -- | -- | -- | -- | -- | -- | -- | -- | -- | 0.18 | 0.28 | 0.31 | 0.31 | 0.31 | 0.31 | 0.31 | 0.31 | 0.31 | 0.48 | 0.48 |
| Pretax Income | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | (25.00) | (33.93) | (35.53) | (40.65) | (54.46) | (37.78) | (108.50) | (76.91) | -- | (60.17) |
| Net Income | (6.01) | (19.68) | 3.76 | (45.50) | (23.52) | (19.69) | (19.38) | (25.17) | (32.24) | (30.47) | (25.00) | (33.93) | (35.53) | (40.65) | (54.46) | (37.78) | (108.50) | (79.07) | (106.95) | (60.17) |
| Basic EPS | (0.07) | (0.28) | 0.18 | (0.87) | (0.61) | (0.51) | (0.56) | (0.89) | (1.19) | (1.31) | (5.67) | (0.13) | (0.13) | (0.16) | (0.20) | (0.15) | (0.46) | (0.36) | (0.50) | (0.29) |
| Diluted EPS | (0.07) | (0.28) | 0.18 | (0.87) | (0.61) | (0.51) | (0.56) | (0.89) | (1.19) | (1.31) | (5.67) | (0.13) | (0.13) | (0.16) | (0.20) | (0.15) | (0.46) | (0.36) | (0.50) | (0.29) |
Cash Flow Statement
(in millions USD)| Metric | Q2
2026 | Q1
2026 | Q4
2025 | Q3
2025 | Q2
2025 | Q1
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 | (18.05) | (21.59) | (19.37) | (21.57) | (20.81) | (26.87) | (19.66) | (27.44) | (28.21) | (28.76) | (26.28) | (29.11) | (32.31) | (36.66) | (36.34) | (67.47) | (50.53) | (61.88) | (37.89) | (46.49) |
| Capital Expenditures | 0.00 | 0.00 | 0.13 | 0.07 | 0.03 | 0.06 | 0.00 | 0.00 | 0.45 | 0.04 | 0.00 | 0.00 | 0.02 | 0.30 | 0.17 | 0.09 | 0.72 | 0.00 | 0.64 | 0.17 |
| Free Cash Flow* | (18.05) | (21.59) | (19.50) | (21.64) | (20.84) | (26.93) | (19.66) | (27.44) | (28.66) | (28.80) | (26.28) | (29.11) | (32.34) | (36.96) | (36.51) | (67.55) | (51.25) | (61.88) | (38.53) | (46.66) |
| Investing Cash Flow | 6.15 | 2.64 | (0.06) | 8.87 | 5.28 | (0.05) | 34.64 | 14.08 | 9.97 | 45.38 | 19.94 | (5.49) | 53.91 | 19.00 | 54.00 | 44.56 | (10.30) | 21.33 | (6.49) | 55.96 |
| Financing Cash Flow | 17.16 | 0.95 | 27.13 | 24.92 | (0.03) | 1.03 | 29.15 | 0.66 | 33.03 | (11.36) | 1.84 | 0.70 | 2.88 | (0.42) | 6.67 | 3.81 | 42.94 | 28.42 | 47.59 | (0.44) |
* Derived from reported values
