Financial Statements — NXL
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 |
|---|
| Cash & Equivalents | 1.00 | 1.21 | 0.59 | 0.43 | 0.62 | 0.08 | 0.85 | 0.55 | 0.36 | 0.23 | 0.17 | 7.86 |
| Short-term Investments | -- | 1.50 | 3.76 | 5.36 | 1.43 | 4.51 | -- | 1.60 | 3.58 | 4.46 | 5.30 | -- |
| Accounts Receivable | 0.05 | 0.04 | 0.01 | 0.06 | 0.01 | 0.02 | 0.01 | 0.00 | 0.01 | 0.01 | 0.00 | 0.01 |
| Inventory | 0.23 | 0.18 | 0.16 | 0.17 | 0.18 | 0.16 | 0.15 | 0.15 | 0.16 | 0.16 | 0.16 | 0.15 |
| Total Current Assets | 1.86 | 3.29 | 4.82 | 6.27 | 2.62 | 4.91 | 1.18 | 2.56 | 4.26 | 5.11 | 5.88 | 8.34 |
| Property, Plant & Equipment | 0.04 | -- | -- | -- | -- | -- | -- | -- | 0.00 | 0.00 | 0.00 | 0.00 |
| Intangible Assets | 0.04 | 0.36 | 0.31 | 0.29 | 0.28 | 0.25 | 0.23 | 0.17 | 0.07 | 0.06 | -- | -- |
| Total Non-current Assets* | 1.14 | 0.40 | 0.31 | 0.29 | 0.28 | 0.35 | 0.38 | 0.27 | 0.17 | 0.06 | 0.05 | 0.01 |
| Total Assets | 3.00 | 3.69 | 5.13 | 6.56 | 2.90 | 5.26 | 1.56 | 2.83 | 4.43 | 5.18 | 5.93 | 8.35 |
| Accounts Payable | 0.24 | 0.17 | 0.07 | 0.24 | 0.18 | 0.17 | 0.09 | 0.15 | 0.07 | 0.05 | 0.05 | 0.79 |
| Total Current Liabilities | 1.48 | 0.81 | 0.36 | 0.60 | 0.57 | 0.30 | 0.21 | 0.51 | 1.20 | 1.18 | 1.20 | 1.98 |
| Total Non-current Liabilities* | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.02 |
| Total Liabilities | 1.48 | 0.81 | 0.36 | 0.60 | 0.57 | 0.30 | 0.21 | 0.51 | 1.20 | 1.18 | 1.20 | 2.00 |
| Retained Earnings | (97.20) | (94.96) | (90.49) | (88.21) | (86.63) | (81.81) | (79.36) | (78.08) | (76.26) | (73.96) | (73.14) | (71.66) |
| Total Stockholder Equity | 1.52 | 2.89 | 4.77 | 5.96 | 2.33 | 4.96 | 1.35 | 2.33 | 3.24 | 3.99 | 4.74 | 6.35 |
* 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 |
|---|
| Total Revenue | 0.01 | 0.01 | 0.17 | 0.02 | 0.07 | 0.04 | 0.03 | 0.04 | 0.03 | 0.08 | 0.02 | 0.02 | 0.04 | 0.03 | 0.04 | 0.55 |
| Cost of Revenue | 0.00 | 0.00 | 0.02 | 0.00 | 0.02 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.00 | 0.01 | 0.01 | 0.01 | 0.19 |
| Gross Profit | 0.01 | 0.01 | 0.15 | 0.01 | 0.05 | 0.03 | 0.02 | 0.02 | 0.02 | 0.07 | 0.02 | 0.02 | 0.03 | 0.02 | 0.03 | 0.36 |
| Research & Development | 0.56 | 0.35 | 0.22 | 0.23 | 0.23 | 0.41 | 0.74 | 0.18 | 0.17 | 0.11 | 0.07 | 1.64 | 0.15 | 0.07 | 0.36 | 0.11 |
| Selling, General & Admin | 0.85 | 0.80 | 1.04 | 0.78 | 0.69 | 0.62 | 0.77 | 1.98 | 0.77 | 0.59 | 1.05 | 1.95 | 0.48 | 0.34 | 0.41 | 0.48 |
| Total Operating Expenses | 2.26 | 2.13 | 2.56 | 2.36 | 1.67 | 2.04 | 2.90 | 2.53 | 1.32 | 1.14 | 1.64 | 2.44 | 0.90 | 0.80 | 0.75 | 0.65 |
| Operating Income | (2.25) | (2.12) | (2.41) | (2.35) | (1.62) | (2.01) | (2.88) | (2.51) | (1.30) | (1.07) | (1.62) | (2.42) | (0.88) | (0.78) | (0.72) | (0.29) |
| Interest Expense | -0.00 | -0.00 | -0.00 | -0.00 | -0.00 | -0.00 | -0.00 | -0.00 | -0.00 | -0.00 | 0.02 | -- | -- | 0.01 | 0.01 | 0.01 |
| Pretax Income | (2.24) | (2.10) | (2.38) | (2.28) | (1.58) | (1.99) | (2.83) | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Net Income | (2.24) | (2.10) | (2.38) | (2.28) | (1.58) | (1.99) | (2.83) | (2.45) | (1.28) | (1.04) | (0.78) | (2.30) | (0.82) | (0.75) | (0.73) | (0.14) |
| Basic EPS | (0.11) | (0.11) | (3.60) | (0.13) | (0.10) | (0.15) | (8.70) | (0.23) | (0.17) | (0.14) | (3.00) | (0.31) | (0.11) | -- | -- | -- |
| Diluted EPS | (0.11) | (0.11) | (3.60) | (0.13) | (0.10) | (0.15) | (8.70) | (0.23) | (0.17) | (0.14) | (3.00) | (0.31) | (0.11) | -- | -- | -- |
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 |
|---|
| Operating Cash Flow | (1.80) | (1.71) | (1.15) | (1.47) | (0.92) | (1.43) | (1.13) | (0.80) | (1.25) | (0.76) | (1.00) | (0.70) | (0.82) | (1.31) | (0.91) | (1.31) |
| Investing Cash Flow | 1.46 | 1.51 | 0.69 | 1.63 | (3.92) | 1.47 | 1.63 | (4.48) | 1.55 | 0.73 | 1.22 | 0.83 | 0.87 | 1.53 | -- | -- |
| Financing Cash Flow | 0.14 | 0.76 | 0.52 | 0.00 | 4.65 | -- | 0.00 | 4.52 | -- | -- | 0.00 | 0.00 | 0.00 | (0.20) | 0.00 | 8.51 |
