Financial Statements — NMAD
Balance Sheet
(in millions USD)| Metric | 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 | -- | -- | -- | -- | -- | -- | 3.41 | 5.11 | 2.91 | 4.09 | 6.56 | 7.74 | 3.78 | 5.96 | 6.80 | 7.74 |
| Total Current Assets | 3.41 | 5.43 | 0.99 | -- | 1.69 | 2.67 | 3.59 | 5.23 | 3.10 | 4.33 | 6.82 | 8.02 | 4.11 | 6.31 | 7.24 | 7.89 |
| Property, Plant & Equipment | 6.61 | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Total Non-current Assets* | 7.46 | 0.00 | 0.20 | -- | 0.01 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.01 | 0.03 | 0.00 | 0.00 |
| Total Assets | 10.87 | 5.43 | 1.19 | 1.51 | 1.70 | 2.67 | 3.59 | 5.23 | 3.10 | 4.33 | 6.82 | 8.02 | 4.12 | 6.33 | 7.24 | 7.89 |
| Accounts Payable | 0.39 | 0.24 | 0.09 | 0.11 | 0.07 | 0.13 | 0.25 | 0.22 | 0.37 | 0.22 | 0.31 | 0.37 | 0.37 | 0.23 | 0.16 | 0.15 |
| Total Current Liabilities | 1.22 | 0.52 | 0.54 | 0.36 | 0.33 | 0.42 | 0.46 | 0.31 | 0.40 | 0.25 | 0.41 | 0.53 | 0.64 | 0.26 | 0.38 | 0.24 |
| Total Non-current Liabilities* | 0.46 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Liabilities* | 1.69 | 0.52 | 0.54 | 0.36 | 0.33 | 0.42 | 0.46 | 0.31 | 0.40 | 0.25 | 0.41 | 0.53 | 0.64 | 0.26 | 0.38 | 0.24 |
| Retained Earnings | (60.00) | (55.53) | (53.55) | (52.78) | (51.45) | (50.46) | (49.45) | (47.45) | (46.43) | (44.76) | (41.76) | (40.29) | (38.74) | (35.05) | (33.81) | (32.08) |
| Total Stockholder Equity | 7.95 | 4.91 | 0.65 | 1.16 | 1.37 | 2.25 | 3.13 | 4.92 | 2.69 | 4.08 | 6.41 | 7.49 | 3.47 | 6.07 | 6.87 | 7.65 |
* Derived from reported values
Income Statement
(in millions USD) (except per-share rows)| Metric | 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 | Q2
2021 |
|---|
| Cost of Revenue | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | 0.36 | 0.52 | 0.52 | -- | -- | -- | -- | -- | -- | -- |
| Research & Development | 0.33 | 0.05 | 0.05 | 0.06 | 0.09 | 0.03 | 0.36 | 0.21 | 0.12 | 0.15 | 0.13 | 0.43 | 0.19 | 0.45 | 0.27 | 0.16 | 0.46 | 0.80 | 0.23 | 0.26 |
| Selling, General & Admin | 1.65 | 1.77 | 1.75 | 0.71 | 0.62 | 1.94 | 0.28 | 0.31 | 0.32 | 0.32 | 0.36 | 0.52 | 0.52 | 0.58 | 0.64 | -- | 0.57 | (0.83) | 1.01 | 1.47 |
| Total Operating Expenses | 1.99 | 1.82 | 1.80 | 0.77 | 0.71 | 0.61 | 0.98 | 1.01 | 0.97 | 1.03 | 1.02 | 1.67 | 1.37 | 1.63 | 1.48 | 1.55 | 1.65 | 2.02 | 1.24 | 1.73 |
| Operating Income | (1.99) | (1.82) | (1.80) | (0.77) | (0.71) | (0.61) | (0.98) | (1.01) | (0.97) | (1.03) | (1.02) | (1.67) | (1.37) | (1.63) | (1.48) | (1.55) | (1.65) | (2.02) | (1.24) | (1.73) |
| Interest Expense | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.01 | 0.01 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Net Income | (1.99) | (2.61) | (1.98) | (0.78) | (0.71) | (0.62) | (0.99) | (1.01) | (0.97) | (1.03) | (1.02) | (1.67) | (1.37) | (1.63) | (1.48) | (1.55) | (1.66) | (2.03) | (1.24) | (1.73) |
| Basic EPS | (0.18) | -- | (0.33) | (0.29) | (0.29) | (0.27) | (0.44) | (0.45) | (0.43) | (1.09) | (0.49) | (1.00) | (0.08) | (0.09) | (0.09) | (0.10) | (0.12) | -- | -- | -- |
| Diluted EPS | (0.18) | (0.35) | (0.33) | (0.29) | (0.29) | (0.27) | (0.44) | (0.45) | (0.43) | (0.41) | (0.49) | (1.00) | -- | -- | -- | -- | -- | -- | -- | -- |
Cash Flow Statement
(in millions USD)| Metric | 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 | Q2
2021 |
|---|
| Operating Cash Flow | (1.83) | (1.09) | (0.93) | (0.49) | (0.57) | (0.60) | (0.96) | (0.82) | (0.79) | (0.90) | (0.94) | (1.18) | (1.27) | (1.21) | (1.17) | (1.19) | (1.04) | (1.15) | (0.93) | (1.04) |
| Investing Cash Flow | (0.02) | (0.54) | (2.64) | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Financing Cash Flow | -- | 3.84 | 5.56 | (0.01) | 0.91 | -- | -- | -- | -- | 0.00 | 3.14 | 0.00 | 0.01 | 0.00 | 0.00 | 5.15 | (0.01) | 0.01 | 0.09 | 0.10 |
