Financial Statements — LQDA
Balance Sheet
(in millions 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 | 284.18 | 222.79 | 157.50 | 173.42 | 169.76 | 204.37 | 133.09 | 157.86 | 76.22 | 88.20 | 94.41 | 98.32 | 103.84 | 57.79 | 64.05 | 67.89 | 53.64 |
| Accounts Receivable | 108.58 | 74.16 | 35.96 | 9.97 | 1.25 | 4.20 | 3.25 | 2.57 | 3.34 | 4.10 | 4.13 | 3.14 | 3.75 | 3.29 | 3.05 | 2.99 | 0.63 |
| Inventory | 36.18 | 28.51 | 24.53 | 6.44 | 1.35 | 0.04 | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Total Current Assets | 437.71 | 333.06 | 226.72 | 195.58 | 177.21 | 214.21 | 147.26 | 167.94 | 82.98 | 92.89 | 99.69 | 103.06 | 108.50 | 61.96 | 67.48 | 71.32 | 55.08 |
| Property, Plant & Equipment | 34.56 | 20.84 | 10.70 | 9.54 | 8.48 | 7.78 | 6.39 | 5.58 | 4.40 | 4.17 | 4.35 | 3.94 | 4.22 | 4.61 | 5.45 | 5.88 | 6.30 |
| Goodwill | 3.90 | 3.90 | 3.90 | 3.90 | 3.90 | 3.90 | 3.90 | 3.90 | 3.90 | 3.90 | 3.90 | 3.90 | 3.90 | 3.90 | 3.90 | 3.90 | 3.90 |
| Intangible Assets | 2.85 | 2.89 | 2.99 | 3.05 | 3.11 | 3.22 | 3.30 | 3.38 | 3.49 | 3.55 | 3.64 | 3.81 | 4.04 | 4.22 | 4.52 | 4.85 | 5.21 |
| Total Non-current Assets* | 84.21 | 68.48 | 49.26 | 61.83 | 50.22 | 38.67 | 30.10 | 29.18 | 28.66 | 28.71 | 29.23 | 29.51 | 30.58 | 31.57 | 32.82 | 33.06 | 33.37 |
| Total Assets | 521.92 | 401.53 | 275.98 | 257.41 | 227.43 | 252.89 | 177.36 | 197.12 | 111.64 | 121.60 | 128.92 | 132.57 | 139.08 | 93.53 | 100.30 | 104.38 | 88.45 |
| Accounts Payable | 12.75 | 10.98 | 6.02 | 11.35 | 8.68 | 2.30 | 5.74 | 2.49 | 1.81 | 1.92 | 0.84 | 1.14 | 1.41 | 1.67 | 1.61 | 2.55 | 3.00 |
| Total Current Liabilities | 189.30 | 149.74 | 102.94 | 78.41 | 60.52 | 33.84 | 24.22 | 21.93 | 12.16 | 19.50 | 6.82 | 7.46 | 6.84 | 7.98 | 7.06 | 6.97 | 7.88 |
| Long-term Debt | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | 19.88 | 19.74 | 19.61 | 19.48 | 10.33 | 10.25 | 10.18 |
| Total Non-current Liabilities* | 137.51 | 143.21 | 150.99 | 163.81 | 117.20 | 108.53 | 90.42 | 88.93 | 51.48 | 41.45 | 40.46 | 30.07 | 30.14 | 30.16 | 20.27 | 18.39 | 17.66 |
| Total Liabilities | 326.80 | 292.95 | 253.93 | 242.22 | 177.72 | 142.37 | 114.64 | 110.86 | 63.64 | 60.94 | 47.28 | 37.53 | 36.98 | 38.14 | 27.34 | 25.36 | 25.54 |
| Retained Earnings | (498.73) | (573.45) | (640.87) | (637.33) | (595.76) | (521.12) | (497.97) | (470.03) | (401.65) | (385.86) | (362.34) | (344.06) | (334.97) | (325.52) | (298.02) | (290.74) | (284.19) |
| Total Stockholder Equity | 195.11 | 108.58 | 22.05 | 15.19 | 49.71 | 110.52 | 62.72 | 86.26 | 48.01 | 60.66 | 81.64 | 95.03 | 102.11 | 55.39 | 72.96 | 79.02 | 62.91 |
* 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 | 171.68 | 132.87 | 92.02 | 54.34 | 8.84 | 3.12 | 2.92 | 4.45 | 3.66 | 2.97 | 4.53 | 3.68 | 4.79 | 4.49 | 5.36 | 3.17 | 3.92 | 3.49 | 3.22 | 3.18 |
| Cost of Revenue* | -- | -- | -- | 47.79 | 6.77 | 1.52 | 1.35 | 1.57 | 1.49 | 1.47 | 0.99 | 0.57 | 0.67 | 0.65 | 0.69 | 0.74 | 0.73 | 0.69 | 0.73 | 0.89 |
| Gross Profit | -- | -- | -- | 6.55 | 2.07 | 1.60 | 1.56 | 2.88 | 2.17 | 1.51 | 3.54 | 3.11 | 5.16 | 3.84 | 4.67 | 2.42 | 3.19 | 2.80 | 2.49 | 2.29 |
| Research & Development | 17.18 | 12.57 | 16.94 | 9.35 | 6.02 | 6.97 | 16.48 | 11.89 | 9.42 | 10.06 | 12.83 | 7.44 | 17.70 | 5.28 | 4.98 | 4.51 | 5.22 | 4.73 | 5.38 | 4.49 |
| Selling, General & Admin | 57.43 | 46.94 | 48.24 | 40.06 | 38.82 | 30.06 | 21.20 | 20.18 | 19.94 | 20.25 | 17.15 | 10.56 | 9.24 | 7.79 | 6.19 | 6.74 | 6.94 | 12.54 | 8.47 | 4.88 |
| Total Operating Expenses | -- | -- | -- | 91.74 | 22.64 | 37.03 | 37.67 | 32.07 | 29.36 | 30.31 | 29.97 | 18.00 | 22.74 | 13.07 | 11.16 | 11.26 | 12.16 | 17.27 | 13.85 | 9.37 |
| Operating Income | 85.52 | 61.50 | 19.79 | 1.77 | (37.51) | (35.42) | (36.11) | (29.19) | (27.20) | (28.80) | (26.44) | (14.89) | (22.82) | (9.23) | (6.50) | (8.83) | (8.97) | (14.47) | (11.36) | (7.08) |
| Interest Expense | -- | -- | -- | -- | -- | -- | -- | 3.00 | 2.60 | 2.52 | 1.96 | 1.76 | 1.43 | 1.12 | 0.70 | 0.62 | 0.54 | 0.48 | 0.20 | 0.21 |
| Pretax Income | 81.70 | 56.78 | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Tax Provision | 6.98 | 3.92 | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | 0.00 | 0.00 | 0.00 |
| Net Income | 74.72 | 52.86 | 14.56 | (3.53) | (41.58) | (38.37) | (38.37) | (23.15) | (27.94) | (40.93) | (27.45) | (15.79) | (23.52) | (11.74) | (6.53) | (9.09) | (9.45) | (15.94) | (11.56) | (7.28) |
| Basic EPS | 0.84 | 0.60 | 0.18 | (0.04) | (0.49) | (0.45) | (0.45) | (0.30) | (0.37) | (0.54) | (0.43) | (0.24) | (0.36) | (0.18) | (0.08) | (0.14) | (0.15) | (0.30) | (0.22) | -- |
| Diluted EPS | 0.74 | 0.52 | 0.18 | (0.04) | (0.49) | (0.45) | (0.45) | (0.30) | (0.37) | (0.54) | (0.43) | (0.24) | (0.36) | (0.18) | (0.08) | (0.14) | (0.15) | (0.30) | (0.22) | -- |
* Derived from reported values
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 | 80.24 | 52.99 | 44.24 | (9.77) | (39.48) | (30.68) | (20.81) | (25.08) | (22.66) | (24.87) | (15.98) | (11.56) | (5.56) | (8.46) | (4.60) | (5.77) | (8.43) | (9.78) | (7.56) | (5.83) |
| Capital Expenditures | 11.24 | 2.83 | 2.04 | 0.91 | 1.06 | 0.33 | 1.29 | 1.75 | 1.29 | 0.62 | 0.21 | 0.48 | 0.24 | 0.37 | 0.49 | 0.09 | 0.01 | 0.00 | 0.02 | 0.00 |
| Free Cash Flow* | 69.01 | 50.16 | 42.21 | (10.68) | (40.54) | (31.01) | (22.10) | (26.83) | (23.95) | (25.49) | (16.19) | (12.04) | (5.81) | (8.82) | (5.09) | (5.87) | (8.44) | (9.78) | (7.58) | (5.83) |
| Investing Cash Flow | (12.23) | (2.83) | (4.04) | (0.91) | (1.06) | (0.33) | (4.78) | (1.75) | (1.29) | (0.62) | (0.21) | (10.47) | (0.24) | (0.36) | (0.49) | (0.09) | -0.00 | 0.00 | (0.02) | 0.00 |
| Financing Cash Flow | (6.61) | (18.05) | (7.02) | (5.24) | 47.71 | 24.29 | (2.30) | 98.10 | (0.81) | 99.67 | 23.64 | 10.07 | (0.41) | 9.95 | 0.06 | 0.35 | 54.48 | 10.08 | 1.02 | 1.99 |
* Derived from reported values