Financial Statements — TERN
Balance Sheet
(in millions USD)| Metric | 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 | 150.70 | 145.97 | 139.02 | 270.14 | 91.50 | 65.10 | 37.89 | 80.92 | 184.35 | 62.98 | 16.81 | 43.88 | 64.75 | 67.59 | 98.83 |
| Short-term Investments | 144.94 | 169.48 | 195.24 | 102.64 | 133.80 | 175.56 | 228.71 | 204.68 | 113.17 | 124.31 | 123.00 | 107.39 | 112.45 | 117.50 | 96.75 |
| Total Current Assets | 300.30 | 318.95 | 337.75 | 376.51 | 230.24 | 245.90 | 270.46 | 288.32 | 299.66 | 190.54 | 142.60 | 154.11 | 178.79 | 186.87 | 198.04 |
| Property, Plant & Equipment | 0.06 | 0.07 | 0.08 | 0.30 | 0.37 | 0.45 | 0.53 | 0.59 | 0.68 | 0.81 | 0.95 | 1.11 | 0.93 | 0.96 | 1.02 |
| Total Non-current Assets* | 1.36 | 1.46 | 1.57 | 1.73 | 0.64 | 0.87 | 1.23 | 1.38 | 1.62 | 2.05 | 2.26 | 2.56 | 1.10 | 1.14 | 1.20 |
| Total Assets | 301.65 | 320.42 | 339.32 | 378.23 | 230.88 | 246.77 | 271.69 | 289.70 | 301.29 | 192.59 | 144.86 | 156.67 | 179.89 | 188.01 | 199.24 |
| Accounts Payable | 2.95 | 2.85 | 2.78 | 1.79 | 1.87 | 1.70 | 3.33 | 5.54 | 2.69 | 2.09 | 0.97 | 1.68 | 1.58 | 1.69 | 4.25 |
| Total Current Liabilities | 15.39 | 12.91 | 10.94 | 11.41 | 10.96 | 8.83 | 12.09 | 14.24 | 12.11 | 7.48 | 6.04 | 6.17 | 6.89 | 5.82 | 8.38 |
| Long-term Debt | -- | -- | -- | 1.03 | 0.00 | 0.00 | 0.06 | 0.22 | 0.39 | 0.70 | 0.85 | 1.00 | -- | -- | -- |
| Total Non-current Liabilities* | 2.20 | 2.27 | 2.34 | 2.35 | 1.24 | 1.22 | 1.18 | 1.31 | 1.49 | 1.41 | 1.60 | 1.79 | 0.84 | 0.86 | 0.86 |
| Total Liabilities | 17.59 | 15.19 | 13.27 | 13.76 | 12.20 | 10.05 | 13.26 | 15.55 | 13.60 | 8.89 | 7.64 | 7.95 | 7.73 | 6.68 | 9.24 |
| Retained Earnings | (494.12) | (469.48) | (445.39) | (399.68) | (377.74) | (355.00) | (311.61) | (281.84) | (263.95) | (226.60) | (209.78) | (195.85) | (167.82) | (155.99) | (145.25) |
| Total Stockholder Equity | 284.07 | 305.23 | 326.04 | 364.47 | 218.68 | 236.72 | 258.43 | 274.15 | 287.68 | 183.69 | 137.22 | 148.72 | 172.16 | 181.33 | 190.00 |
* Derived from reported values
Income Statement
(in millions USD) (except per-share rows)| Metric | 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 | Q2
2021 | Q1
2021 |
|---|
| Selling, General & Admin | 8.70 | 7.80 | 7.03 | 8.71 | 7.95 | 9.77 | 7.19 | 6.86 | 6.60 | 18.35 | 7.01 | 7.10 | 6.17 | 5.13 | 5.42 | 5.69 | 5.42 | 4.72 | 4.86 | 4.56 |
| Operating Income | (27.60) | (27.72) | (27.38) | (27.43) | (25.95) | (24.94) | (25.54) | (25.45) | (24.06) | (33.18) | (21.16) | (24.16) | (16.83) | (17.29) | (14.08) | (13.82) | (13.88) | (11.87) | (10.82) | (13.30) |
| Pretax Income | (23.19) | (24.59) | (24.03) | (23.82) | (21.76) | (21.88) | (22.67) | (22.28) | (20.97) | (29.71) | (17.82) | (21.47) | (15.50) | (16.81) | (13.92) | (13.75) | (13.81) | (11.81) | (10.72) | (13.30) |
| Tax Provision | 0.38 | 0.05 | 0.06 | 0.09 | 0.04 | 0.06 | 0.06 | 0.10 | 0.05 | 0.06 | 0.07 | 0.06 | 0.32 | 0.01 | 0.01 | 0.02 | 0.44 | 0.02 | 0.01 | 0.04 |
| Net Income | (23.57) | (24.63) | (24.09) | (23.91) | (21.80) | (21.94) | (22.74) | (22.37) | (21.02) | (29.77) | (17.90) | (21.53) | (15.82) | (16.82) | (13.93) | (13.77) | (14.25) | (11.83) | (10.74) | (13.34) |
| Basic EPS | (0.24) | (0.27) | (0.26) | (0.26) | (0.23) | (0.28) | (0.31) | (0.30) | (0.29) | (0.42) | (0.25) | (0.31) | (0.17) | (0.44) | -- | -- | -- | -- | -- | -- |
| Diluted EPS | (0.24) | (0.27) | (0.26) | (0.26) | (0.23) | (0.28) | (0.31) | (0.30) | (0.29) | (0.42) | (0.25) | (0.31) | (0.17) | (0.44) | -- | -- | -- | -- | -- | -- |
Cash Flow Statement
(in millions USD)| Metric | 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 | Q2
2021 | Q1
2021 |
|---|
| Operating Cash Flow | (19.08) | (19.77) | (18.88) | (24.44) | (14.58) | (16.45) | (16.18) | (22.80) | (19.32) | (20.70) | (12.99) | (14.38) | (11.21) | (13.44) | (11.16) | (13.30) | (10.67) | (8.08) | (8.76) | (14.32) |
| Capital Expenditures | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.01 | 0.03 | 0.04 | 0.01 | 0.00 | 0.00 | 0.03 | (0.01) | 0.01 | 0.24 | 0.20 | 0.07 | 0.04 | 0.02 |
| Free Cash Flow* | (19.08) | (19.77) | (18.88) | (24.44) | (14.58) | (16.45) | (16.19) | (22.83) | (19.36) | (20.71) | (12.99) | (14.38) | (11.24) | (13.43) | (11.17) | (13.54) | (10.87) | (8.16) | (8.80) | (14.34) |
| Investing Cash Flow | (350.00) | 24.50 | 25.50 | 1.96 | (94.35) | 31.75 | 42.19 | 8.00 | 47.23 | (22.31) | (90.84) | 27.93 | (14.55) | (1.24) | (15.97) | 9.49 | (6.42) | 4.44 | (20.90) | (96.82) |
| Financing Cash Flow | 743.12 | 0.00 | 0.32 | 0.07 | 0.30 | 163.29 | 0.40 | 0.00 | 13.86 | 0.02 | 0.49 | 27.58 | 105.97 | 61.00 | 0.12 | 0.00 | 0.02 | 0.80 | (1.59) | 135.17 |
* Derived from reported values
