Financial Statements — SRFM
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 |
|---|
| Cash & Equivalents | 18.43 | 4.16 | 7.06 | 22.57 | 6.63 | 0.51 | 1.46 | 1.28 | 5.92 | 2.27 |
| Accounts Receivable | 4.78 | 3.71 | 5.04 | 5.31 | 4.73 | 4.36 | 4.49 | 4.71 | 3.92 | 0.07 |
| Total Current Assets | 41.34 | 21.06 | 22.01 | 38.72 | 19.98 | 14.18 | 15.88 | 16.71 | 28.03 | 10.07 |
| Property, Plant & Equipment | 52.38 | 47.39 | 43.53 | 42.00 | 39.67 | 44.01 | 47.04 | 46.71 | 49.22 | 0.70 |
| Goodwill | -- | -- | -- | -- | -- | -- | -- | -- | 58.16 | -- |
| Intangible Assets | 18.60 | 19.33 | 20.81 | 21.54 | 22.28 | 24.00 | 24.89 | 25.78 | 28.63 | 2.66 |
| Total Non-current Assets* | 99.40 | 99.77 | 84.77 | 90.27 | 85.29 | 83.70 | 89.67 | 92.07 | 157.44 | 4.71 |
| Total Assets | 140.73 | 120.83 | 106.79 | 128.98 | 105.27 | 97.88 | 105.55 | 108.79 | 185.47 | 14.78 |
| Accounts Payable | 22.15 | 21.14 | 16.40 | 19.47 | 17.85 | 26.79 | 25.98 | 20.58 | 20.00 | 13.11 |
| Total Current Liabilities | 157.78 | 132.93 | 88.13 | 97.08 | 92.07 | 133.10 | 186.84 | 165.47 | 104.48 | 131.77 |
| Long-term Debt | 22.59 | 16.50 | 63.80 | 63.31 | 62.93 | 22.53 | 23.27 | 25.07 | 26.51 | -- |
| Total Non-current Liabilities* | 25.41 | 44.50 | 111.22 | 147.39 | 148.84 | 100.39 | 46.79 | 49.62 | 52.69 | 28.68 |
| Total Liabilities | 183.19 | 177.42 | 199.34 | 244.47 | 240.91 | 233.49 | 233.64 | 215.09 | 157.18 | 160.45 |
| Retained Earnings | (836.39) | (808.26) | (751.12) | (723.91) | (695.91) | (678.71) | (666.48) | (639.50) | (491.54) | (416.93) |
| Total Stockholder Equity | (42.46) | (63.19) | (92.56) | (115.48) | (135.64) | (135.61) | (128.09) | (106.30) | 28.30 | (279.33) |
* 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 |
|---|
| Total Revenue | 29.51 | 25.61 | 26.45 | 29.17 | 27.43 | 23.51 | 28.05 | 28.39 | 32.37 | 30.62 | 26.84 | 21.97 | 6.20 |
| Selling, General & Admin | 11.49 | 6.06 | 18.57 | 11.20 | 12.63 | 10.89 | (14.77) | 0.42 | 19.60 | 24.61 | 27.32 | 55.62 | 9.30 |
| Operating Income | (18.80) | (13.35) | (25.88) | (16.50) | (15.93) | (18.57) | 8.11 | (8.64) | (25.26) | (34.47) | (108.54) | (63.02) | (13.15) |
| Interest Expense | -- | -- | -- | -- | -- | -- | -- | -- | 1.91 | 1.67 | 1.34 | 0.94 | 0.53 |
| Pretax Income | (28.19) | (20.30) | (37.08) | (27.27) | (28.06) | (18.52) | 1.07 | (12.24) | (27.02) | (37.01) | (110.73) | (78.18) | (44.52) |
| Tax Provision | (0.05) | (0.04) | (0.20) | (0.06) | (0.06) | (0.05) | (0.19) | (0.01) | (0.04) | (0.05) | 0.27 | (3.57) | -- |
| Net Income | (28.13) | (20.26) | (36.88) | (27.21) | (28.00) | (18.47) | 1.26 | (12.22) | (26.98) | (36.97) | (110.99) | (74.61) | (44.52) |
| Basic EPS | (0.29) | (0.26) | (0.08) | (0.64) | (1.34) | (1.09) | (4.05) | (0.94) | (0.33) | (0.48) | (1.32) | (1.36) | (3.14) |
| Diluted EPS | (0.29) | (0.26) | (0.08) | (0.64) | (1.34) | (1.09) | (4.05) | (0.94) | (0.33) | (0.48) | (1.32) | (1.36) | (3.14) |
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 |
|---|
| Operating Cash Flow | (1.15) | (12.25) | (18.37) | (19.34) | (10.64) | (15.80) | (23.58) | (12.31) | (5.62) | (12.81) | (19.30) | (24.45) | (20.62) |
| Capital Expenditures | 6.88 | 2.76 | 1.72 | 1.74 | 1.21 | 1.27 | 9.09 | 1.25 | 0.71 | 0.72 | (4.07) | 11.45 | 0.20 |
| Free Cash Flow* | (8.04) | (15.02) | (20.09) | (21.08) | (11.85) | (17.07) | (32.66) | (13.56) | (6.33) | (13.52) | (15.23) | (35.90) | (20.82) |
| Investing Cash Flow | (7.73) | (3.54) | (2.41) | (2.28) | (1.81) | 0.78 | 0.86 | (1.84) | (1.88) | (0.74) | 4.02 | (10.82) | (0.30) |
| Financing Cash Flow | 13.05 | 7.35 | 36.43 | 1.19 | 32.80 | 0.54 | 43.28 | 13.20 | 7.58 | 13.11 | 10.88 | 38.92 | 23.19 |
* Derived from reported values
