Financial Statements — PHAT
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 | 0.18 | 0.18 | 0.14 | 0.15 | 0.21 | 0.33 | 0.28 | 0.32 | 0.21 | 0.25 | 0.13 | 0.20 | 0.21 | 0.14 | 0.22 | 0.21 | 0.24 |
| Accounts Receivable | 0.10 | 0.08 | 0.06 | 0.05 | 0.04 | 0.02 | 0.01 | 0.00 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Inventory | 0.01 | 0.01 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -- | -- | -- | -- | -- | -- | -- |
| Total Current Assets | 0.30 | 0.28 | 0.21 | 0.22 | 0.26 | 0.37 | 0.30 | 0.34 | 0.23 | 0.26 | 0.14 | 0.20 | 0.21 | 0.15 | 0.23 | 0.21 | 0.24 |
| Property, Plant & Equipment | 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 | 0.00 | 0.00 |
| Total Non-current Assets* | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 | 0.01 | 0.01 | 0.02 | 0.01 | 0.01 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Assets | 0.33 | 0.31 | 0.24 | 0.25 | 0.29 | 0.39 | 0.32 | 0.36 | 0.24 | 0.27 | 0.14 | 0.20 | 0.21 | 0.15 | 0.23 | 0.21 | 0.25 |
| Accounts Payable | 0.01 | 0.01 | 0.00 | 0.00 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.00 | 0.00 | 0.01 | 0.01 | 0.00 | 0.01 | 0.01 | 0.01 |
| Total Current Liabilities | 0.15 | 0.13 | 0.09 | 0.09 | 0.07 | 0.07 | 0.05 | 0.04 | 0.02 | 0.02 | 0.01 | 0.02 | 0.02 | 0.01 | 0.03 | 0.04 | 0.04 |
| Long-term Debt | 0.16 | 0.16 | 0.21 | 0.21 | 0.20 | 0.18 | 0.17 | 0.15 | 0.10 | 0.10 | 0.10 | 0.09 | 0.09 | 0.09 | 0.09 | 0.05 | 0.05 |
| Total Non-current Liabilities* | 0.52 | 0.52 | 0.57 | 0.56 | 0.56 | 0.51 | 0.51 | 0.46 | 0.23 | 0.23 | 0.22 | 0.21 | 0.20 | 0.10 | 0.10 | 0.04 | 0.04 |
| Total Liabilities | 0.67 | 0.64 | 0.66 | 0.66 | 0.63 | 0.57 | 0.55 | 0.51 | 0.25 | 0.25 | 0.23 | 0.23 | 0.22 | 0.11 | 0.12 | 0.08 | 0.08 |
| Retained Earnings | (1.53) | (1.51) | (1.46) | (1.43) | (1.36) | (1.19) | (1.10) | (1.01) | (0.85) | (0.81) | (0.76) | (0.67) | (0.62) | (0.57) | (0.49) | (0.46) | (0.42) |
| Total Stockholder Equity* | (0.34) | (0.34) | (0.42) | (0.41) | (0.34) | (0.19) | (0.23) | (0.15) | (0.02) | 0.02 | (0.09) | (0.03) | (0.01) | 0.04 | 0.10 | 0.13 | 0.16 |
* 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 | 74.27 | 58.30 | 57.58 | 49.50 | 39.50 | 28.52 | 29.66 | 16.35 | 7.32 | 1.91 | 0.68 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Cost of Revenue | 15.10 | 12.00 | 7.65 | 6.19 | 5.04 | 3.72 | 3.82 | 2.36 | 1.38 | 0.43 | 0.17 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Gross Profit | 59.18 | 46.31 | 49.94 | 43.31 | 34.47 | 24.80 | 25.85 | 14.00 | 5.95 | 1.49 | 0.52 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Research & Development | 7.81 | 7.77 | 7.49 | 7.03 | 9.08 | 9.18 | 8.58 | 8.69 | 7.38 | 9.43 | 13.39 | 12.26 | 12.76 | 11.48 | 15.95 | 19.02 | 18.82 | 17.66 | 13.55 | 16.61 |
| Selling, General & Admin | 55.33 | 54.01 | 48.37 | 51.56 | 85.31 | 94.47 | 76.68 | 76.10 | 75.87 | 62.01 | 57.00 | 23.40 | 18.94 | 18.60 | 30.70 | 23.51 | 26.55 | 20.25 | 19.49 | 16.53 |
| Total Operating Expenses | 63.14 | 61.78 | 55.87 | 58.59 | 94.39 | 103.66 | 85.27 | 84.79 | 83.25 | 71.44 | 70.39 | 35.66 | 31.70 | 30.08 | 46.64 | 42.53 | 45.36 | 37.91 | 33.04 | 33.14 |
| Operating Income | (3.96) | (15.48) | (5.93) | (15.27) | (59.92) | (78.86) | (59.42) | (70.80) | (77.30) | (69.95) | (69.87) | (35.66) | (31.70) | (30.08) | (46.64) | (42.53) | (45.36) | (37.91) | (33.04) | (33.14) |
| Interest Expense | -- | -- | -- | -- | -- | -- | -- | -- | 17.76 | 17.17 | 13.03 | 10.11 | 9.62 | 9.22 | 9.60 | 9.28 | 5.67 | 2.76 | 2.78 | 1.49 |
| Net Income | (17.58) | (30.37) | (21.15) | (29.97) | (75.81) | (94.32) | (74.45) | (85.58) | (91.45) | (82.85) | (79.57) | (43.24) | (40.96) | (37.81) | (55.05) | (51.09) | (91.58) | (40.66) | (35.83) | (36.66) |
| Basic EPS | (0.21) | (0.37) | (0.26) | (0.41) | (1.05) | (1.31) | (0.99) | (1.32) | (1.56) | (1.42) | (1.44) | (0.76) | (0.84) | (0.89) | (1.33) | (1.32) | (1.33) | -- | -- | -- |
| Diluted EPS | (0.21) | (0.37) | (0.26) | (0.41) | (1.05) | (1.31) | (0.99) | (1.32) | (1.56) | (1.42) | (1.44) | (0.76) | (0.84) | (0.89) | (1.33) | (1.32) | (1.33) | -- | -- | -- |
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 | (1.93) | (15.65) | (5.00) | (14.11) | (62.73) | (84.93) | (63.46) | (63.57) | (70.72) | (69.02) | (43.80) | (31.91) | (22.20) | (39.67) | (40.70) | (35.02) | (25.72) | (45.10) | (41.42) | (29.07) |
| Capital Expenditures | 0.04 | 0.06 | 0.09 | 0.03 | 0.10 | 0.02 | 0.01 | 0.04 | 0.05 | 0.04 | 0.48 | 0.94 | 0.01 | 0.21 | 0.41 | 0.13 | 0.43 | 0.07 | 0.10 | 0.01 |
| Free Cash Flow* | (1.97) | (15.71) | (5.09) | (14.14) | (62.83) | (84.95) | (63.46) | (63.62) | (70.77) | (69.06) | (44.27) | (32.85) | (22.21) | (39.88) | (41.11) | (35.15) | (26.14) | (45.17) | (41.52) | (29.08) |
| Investing Cash Flow | (0.04) | (0.06) | (0.09) | (0.03) | (0.10) | (0.02) | -0.00 | (0.04) | (0.05) | (0.04) | (0.47) | (0.94) | (0.01) | (0.21) | (0.41) | (0.13) | (0.43) | (0.07) | (0.10) | (0.01) |
| Financing Cash Flow | 3.55 | 66.64 | (0.10) | (0.27) | 0.08 | 0.00 | 26.05 | 122.06 | 24.77 | 9.90 | 211.99 | 0.01 | 141.50 | 14.07 | 0.00 | 24.60 | 95.45 | -- | 0.16 | 44.03 |
* Derived from reported values
