Financial Statements — TARS
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 | 204.60 | 102.19 | 112.72 | 96.65 | 175.79 | 176.21 | 181.10 | 193.71 | 226.67 | 106.77 | 66.00 | 169.49 | 245.36 | 175.01 | 183.80 | 176.74 | 156.18 |
| Short-term Investments | 245.10 | 286.54 | 289.11 | 284.50 | 232.13 | 140.74 | 142.49 | 104.82 | 20.21 | 71.46 | 135.22 | 57.08 | 0.00 | 0.29 | -- | -- | -- |
| Accounts Receivable | 96.03 | 100.34 | 72.62 | 58.33 | 62.43 | 29.16 | 29.53 | 29.89 | 5.36 | -- | 2.50 | 0.02 | 0.02 | 0.02 | -- | 20.00 | 25.00 |
| Inventory | 4.38 | 4.57 | 3.84 | 3.87 | 2.71 | 2.85 | 2.19 | 4.04 | 0.02 | -- | -- | -- | -- | -- | -- | -- | -- |
| Total Current Assets | 561.99 | 537.23 | 501.70 | 474.43 | 480.77 | 357.12 | 362.59 | 340.72 | 259.28 | 183.48 | 208.65 | 234.08 | 250.28 | 178.76 | 187.09 | 200.90 | 191.45 |
| Property, Plant & Equipment | 20.49 | 17.67 | 5.75 | 3.18 | 2.79 | 2.39 | 2.24 | 1.34 | 1.61 | 1.54 | 1.19 | 0.95 | 0.96 | 0.92 | 0.52 | 0.48 | 0.59 |
| Intangible Assets | 6.89 | 7.13 | 7.61 | 7.85 | 8.09 | 8.57 | 3.67 | 3.77 | 3.97 | -- | -- | -- | -- | -- | -- | -- | -- |
| Total Non-current Assets* | 49.15 | 43.91 | 32.86 | 20.57 | 19.98 | 19.18 | 14.26 | 8.55 | 9.06 | 5.45 | 2.57 | 2.39 | 2.55 | 2.73 | 3.32 | 2.55 | 2.50 |
| Total Assets | 611.14 | 581.14 | 534.56 | 494.99 | 500.75 | 376.30 | 376.84 | 349.28 | 268.33 | 188.93 | 211.21 | 236.47 | 252.83 | 181.48 | 190.41 | 203.45 | 193.95 |
| Accounts Payable | 40.14 | 24.13 | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Total Current Liabilities | 175.75 | 143.51 | 117.05 | 90.25 | 86.31 | 65.87 | 51.57 | 42.53 | 23.25 | 14.77 | 13.26 | 14.27 | 11.72 | 12.61 | 10.37 | 10.46 | 10.12 |
| Long-term Debt | 72.76 | 72.60 | 72.28 | 72.13 | 71.98 | 71.71 | 71.58 | 29.93 | 29.71 | 24.61 | 24.52 | 19.36 | 19.26 | 19.18 | -- | -- | -- |
| Total Non-current Liabilities* | 88.66 | 88.68 | 82.43 | 72.13 | 71.98 | 72.95 | 73.03 | 31.54 | 31.42 | 26.43 | 24.56 | 19.57 | 19.61 | 19.68 | 0.91 | 0.52 | 0.60 |
| Total Liabilities | 264.41 | 232.18 | 199.48 | 162.38 | 158.29 | 138.82 | 124.60 | 74.07 | 54.67 | 41.20 | 37.81 | 33.84 | 31.32 | 32.29 | 11.27 | 10.98 | 10.72 |
| Retained Earnings | (452.15) | (433.59) | (418.25) | (405.67) | (385.33) | (337.10) | (313.68) | (280.39) | (202.75) | (163.61) | (132.18) | (95.16) | (72.65) | (66.91) | (31.82) | (16.12) | (22.47) |
| Total Stockholder Equity | 346.73 | 348.95 | 335.08 | 332.61 | 342.46 | 237.48 | 252.25 | 275.21 | 213.66 | 147.73 | 173.40 | 202.63 | 221.51 | 149.20 | 179.14 | 192.47 | 183.23 |
* 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 | 173.91 | 162.05 | 151.67 | 118.70 | 102.66 | 78.33 | 66.41 | 48.12 | 40.81 | 27.61 | 13.08 | 1.87 | -- | -- | 10.00 | 0.00 | 15.28 | 0.54 | 0.34 | 1.24 |
| Cost of Revenue* | 12.11 | 9.40 | -- | -- | 6.24 | 5.21 | -- | -- | -- | 25.11 | -- | (10.89) | 0.00 | 0.00 | -- | 0.00 | 0.52 | 0.03 | -- | 0.07 |
| Gross Profit | 161.80 | 152.66 | -- | -- | 96.42 | 73.12 | -- | -- | -- | 2.50 | -- | 12.76 | 0.00 | -- | -- | 0.00 | 14.76 | 0.51 | -- | 1.18 |
| Research & Development | 31.01 | 22.35 | 18.04 | 16.28 | 15.59 | 14.41 | 16.87 | 12.13 | 12.32 | 12.07 | 13.31 | 12.11 | 12.55 | 12.36 | 10.03 | 10.91 | 9.60 | 12.08 | 8.04 | 10.21 |
| Selling, General & Admin | 150.70 | 136.43 | 130.68 | 108.63 | 103.01 | 85.00 | 69.03 | 57.91 | 58.79 | 51.58 | -- | 30.32 | 20.27 | 15.10 | 14.63 | 11.99 | 10.38 | 7.95 | 6.77 | 6.67 |
| Total Operating Expenses | 181.71 | 158.78 | -- | -- | 118.61 | 99.40 | -- | -- | -- | 27.45 | -- | 2.64 | 32.82 | -- | 25.06 | 22.91 | 20.50 | 20.06 | 14.79 | 16.95 |
| Operating Income | (19.91) | (6.12) | (7.98) | (14.53) | (22.18) | (26.28) | (24.42) | (25.16) | (33.30) | (37.68) | (44.45) | (40.93) | (32.82) | (24.95) | (15.06) | (22.91) | (5.22) | (19.52) | (14.45) | (15.70) |
| Interest Expense | -- | -- | -- | -- | -- | -- | -- | -- | -- | 0.98 | 0.99 | 0.86 | 0.82 | 0.68 | 0.69 | 0.63 | -- | -- | -- | -- |
| Pretax Income* | (15.83) | (4.61) | -- | -- | -- | -- | -- | -- | -- | -- | (41.90) | (39.15) | (31.42) | (23.42) | (13.60) | (22.52) | (5.74) | (20.24) | (14.80) | (16.04) |
| Tax Provision | 2.72 | 2.35 | -- | -- | -- | -- | -- | -- | -- | -- | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -0.00 | 0.00 | 0.00 | 0.05 | (0.34) |
| Net Income | (18.55) | (6.97) | (8.37) | (12.58) | (20.34) | (25.12) | (23.11) | (23.42) | (33.29) | (35.73) | (41.90) | (39.15) | (31.42) | (23.42) | (13.60) | (22.51) | (5.74) | (20.24) | (14.85) | (15.70) |
| Basic EPS | (0.43) | (0.16) | (0.17) | (0.30) | (0.48) | (0.64) | (0.57) | (0.61) | (0.88) | (1.01) | (1.29) | (1.28) | (1.17) | (0.88) | (0.46) | (0.84) | (0.24) | (0.98) | (0.73) | (0.76) |
| Diluted EPS | (0.43) | (0.16) | (0.17) | (0.30) | (0.48) | (0.64) | (0.57) | (0.61) | (0.88) | (1.01) | (1.29) | (1.28) | (1.17) | (0.88) | (0.46) | (0.84) | (0.24) | (0.98) | (0.67) | (0.76) |
* 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 | 61.22 | (24.65) | 19.33 | 18.26 | (29.39) | (20.65) | (22.18) | (8.65) | (14.40) | (37.79) | (39.33) | (32.36) | (23.83) | (21.97) | (10.87) | (18.61) | (4.26) | (15.29) | (12.12) | 7.11 |
| Capital Expenditures | 4.07 | 5.82 | 6.36 | 1.91 | 1.00 | 0.59 | 0.07 | 0.28 | 1.04 | 0.17 | 0.00 | 0.38 | 0.79 | 0.34 | 0.13 | 0.10 | 0.12 | 0.16 | 0.27 | 0.12 |
| Free Cash Flow* | 57.15 | (30.47) | 12.97 | 16.35 | (30.39) | (21.24) | (22.25) | (8.93) | (15.44) | (37.96) | (39.33) | (32.74) | (24.61) | (22.31) | (11.00) | (18.71) | (4.38) | (15.45) | (12.39) | 6.99 |
| Investing Cash Flow | 37.88 | (58.56) | 49.27 | (4.74) | (51.70) | (34.94) | (59.57) | 3.13 | (40.52) | (102.22) | 17.85 | 47.37 | 64.09 | 11.29 | (87.22) | (57.13) | (0.12) | (0.16) | (0.27) | (0.12) |
| Financing Cash Flow | 3.30 | 1.20 | 2.31 | 2.56 | 1.95 | 136.56 | 2.93 | 0.64 | 42.32 | 108.77 | 19.76 | 104.89 | 0.51 | 5.01 | 0.26 | (0.14) | 74.73 | 19.13 | (0.07) | 0.08 |
* Derived from reported values
Dividends Per Share
(USD)| Metric | Q4
2021 | Q3
2021 | Q2
2021 | Q1
2021 | Q4
2020 | Q3
2020 |
|---|
| Dividends Per Share | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
