Financial Statements — SRZN
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 | 102.04 | 106.91 | 81.33 | 90.39 | 101.65 | 31.01 | 37.77 | 27.29 | 33.98 | 36.50 | 27.81 | 25.53 | 16.87 | 14.31 | 61.10 | 0.39 | 0.77 |
| Short-term Investments | -- | -- | -- | -- | -- | -- | -- | -- | 9.46 | 16.90 | 33.94 | 52.86 | 75.82 | 78.21 | 49.07 | -- | -- |
| Accounts Receivable | 5.00 | 5.00 | 2.32 | 2.32 | 2.13 | 12.20 | 2.11 | 2.13 | 1.98 | 1.98 | 1.98 | -- | -- | -- | -- | -- | -- |
| Total Current Assets | 109.40 | 113.95 | 85.86 | 94.24 | 106.01 | 45.29 | 41.64 | 32.02 | 48.36 | 57.58 | 67.03 | 82.72 | 94.82 | 95.68 | 114.00 | 0.92 | 1.41 |
| Property, Plant & Equipment | 0.46 | 0.49 | 0.14 | 0.18 | 0.30 | 0.86 | 1.20 | 1.58 | 2.48 | 2.97 | 3.38 | 3.91 | 4.20 | 4.67 | 5.19 | -- | -- |
| Total Non-current Assets* | 6.21 | 6.76 | 8.19 | 8.46 | 8.82 | 2.71 | 3.43 | 4.70 | 5.62 | 6.42 | 7.17 | 8.72 | 9.31 | 21.98 | 36.63 | 92.03 | 92.03 |
| Total Assets | 115.61 | 120.71 | 94.05 | 102.70 | 114.83 | 48.00 | 45.07 | 36.72 | 53.97 | 64.00 | 74.20 | 91.43 | 104.13 | 117.66 | 150.64 | 92.95 | 93.44 |
| Accounts Payable | 1.07 | 0.89 | 0.54 | 0.35 | 0.30 | 0.28 | 0.17 | 0.13 | 0.29 | 0.19 | 0.17 | 0.36 | 0.42 | 1.05 | 1.83 | -- | -- |
| Total Current Liabilities | 9.01 | 9.57 | 6.53 | 5.74 | 10.58 | 6.12 | 5.98 | 6.18 | 6.67 | 6.45 | 7.79 | 8.65 | 8.52 | 8.12 | 12.54 | 1.54 | 0.99 |
| Total Non-current Liabilities* | 325.26 | 389.29 | 111.03 | 49.84 | 98.57 | 36.21 | 33.03 | 0.40 | 1.77 | 2.49 | 3.37 | 5.29 | 5.91 | 6.88 | 14.36 | 8.36 | 5.82 |
| Total Liabilities | 334.27 | 398.86 | 117.56 | 55.58 | 109.16 | 42.33 | 39.01 | 6.58 | 8.44 | 8.94 | 11.16 | 13.94 | 14.43 | 14.99 | 26.91 | 9.90 | 6.81 |
| Retained Earnings | (604.61) | (654.79) | (344.13) | (272.48) | (312.23) | (257.22) | (255.79) | (230.52) | (212.78) | (202.34) | (192.95) | (177.88) | (164.52) | (150.60) | (127.69) | (5.94) | (2.36) |
| Total Stockholder Equity | (218.66) | (278.15) | (23.51) | 47.11 | 5.67 | 5.67 | 6.06 | 30.14 | 45.53 | 55.06 | 63.04 | 77.49 | 89.70 | 102.66 | 123.73 | 5.00 | 5.00 |
* 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 | 5.00 | 5.00 | 0.53 | 0.98 | 0.98 | 0.98 | 0.66 | 10.00 | 0.00 | 0.00 | -- | 0.00 | -- | -- | -- | -- | -- | -- | -- | -- |
| Research & Development | 8.48 | 9.33 | 8.99 | 7.77 | 6.04 | 6.56 | 5.35 | 5.20 | 5.34 | 5.25 | 6.10 | 6.11 | 6.94 | 8.09 | 9.44 | 8.62 | 9.58 | 9.37 | 10.89 | 10.42 |
| Selling, General & Admin | 6.89 | 6.13 | 4.18 | 4.09 | 3.96 | 3.98 | 3.90 | 3.57 | 3.71 | 3.88 | 3.59 | 3.57 | 3.34 | 5.30 | 5.23 | 4.98 | 4.49 | 5.12 | 4.10 | 3.29 |
| Total Operating Expenses | 15.37 | 15.46 | 13.17 | 11.87 | 10.00 | 10.53 | 9.25 | 8.77 | 9.05 | 9.13 | 9.72 | 11.19 | 10.28 | 14.59 | 14.67 | 13.61 | 14.07 | 14.49 | 15.00 | 13.71 |
| Operating Income | (10.37) | (10.46) | (12.64) | (10.88) | (9.02) | (9.55) | (8.59) | 1.23 | (9.05) | (9.13) | (9.72) | (11.19) | (10.27) | (14.59) | (2.17) | (13.60) | (14.07) | (14.49) | (38.57) | (13.70) |
| Pretax Income* | 50.18 | (127.50) | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Tax Provision | 0.00 | 0.00 | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Net Income | 50.18 | (127.50) | (183.16) | (71.64) | 39.75 | (26.97) | (28.04) | (1.43) | (25.26) | (8.83) | (8.91) | (10.44) | (9.39) | (14.30) | (0.77) | (13.36) | (13.92) | (7.95) | (36.81) | (14.02) |
| Basic EPS | 2.75 | (11.65) | (19.13) | (8.36) | 2.55 | (7.43) | (9.00) | (0.44) | (7.99) | (4.24) | (20.20) | (0.34) | (0.31) | (0.48) | (0.03) | (0.38) | (0.40) | -- | -- | -- |
| Diluted EPS | (0.41) | (11.65) | (19.13) | (8.36) | 2.55 | (7.43) | (9.00) | (0.44) | (7.99) | (4.24) | (20.20) | (0.34) | (0.31) | (0.48) | (0.03) | (0.38) | (0.40) | -- | -- | -- |
* 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 | (7.41) | (12.49) | (5.81) | (9.04) | (6.11) | (9.28) | 3.48 | (6.75) | (5.61) | (8.75) | (7.31) | (10.13) | (8.75) | (14.17) | (0.20) | (14.15) | (11.41) | (18.37) | (11.54) | (36.67) |
| Capital Expenditures | 0.02 | 0.12 | 0.06 | 0.02 | 0.02 | 0.03 | 0.02 | 0.00 | 0.00 | 0.01 | 0.00 | 0.00 | 0.08 | 0.32 | 0.15 | 0.14 | 0.02 | 0.41 | 0.32 | 0.95 |
| Free Cash Flow* | (7.43) | (12.61) | (5.87) | (9.06) | (6.13) | (9.31) | 3.46 | (6.75) | (5.61) | (8.75) | (7.31) | (10.13) | (8.83) | (14.48) | (0.35) | (14.30) | (11.44) | (18.79) | (11.87) | (37.62) |
| Investing Cash Flow | (0.02) | (0.12) | (0.06) | (0.02) | (0.02) | (0.03) | (0.02) | 0.00 | 0.00 | (0.01) | 9.50 | 7.65 | 17.25 | 17.33 | 1.91 | 22.83 | 13.98 | (0.41) | (16.62) | (61.09) |
| Financing Cash Flow | 2.51 | 30.28 | 13.78 | 0.01 | (5.12) | 76.39 | 0.09 | -0.00 | 16.09 | 0.00 | 0.14 | (0.01) | 0.19 | (0.04) | (2.55) | (0.01) | -0.00 | 0.00 | 0.16 | 124.47 |
* Derived from reported values