Financial Statements — TWAV
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 | 0.74 | 2.13 | 3.74 | 10.80 | 4.32 | 5.62 | 5.86 | 5.36 | 6.77 | 6.87 | 3.71 | 4.14 | 5.11 | 6.59 | 10.80 | 13.09 | 4.03 |
| Accounts Receivable | 0.01 | 0.14 | 0.01 | 0.02 | 0.11 | 0.03 | 0.03 | 0.02 | 0.16 | 0.24 | 0.39 | 0.36 | 0.49 | 0.56 | 1.28 | 0.95 | 1.78 |
| Inventory | -- | -- | -- | -- | -- | 0.05 | 0.09 | 0.13 | 0.32 | 0.40 | 0.63 | 1.03 | 1.08 | 1.72 | 1.86 | 2.13 | 1.49 |
| Total Current Assets | 5.72 | 9.97 | 10.89 | 13.06 | 4.75 | 5.99 | 6.29 | 5.92 | 7.58 | 8.35 | 5.69 | 6.40 | 7.83 | 10.30 | 15.37 | 17.57 | 8.45 |
| Property, Plant & Equipment | -- | -- | -- | -- | -- | -- | -- | -- | 0.00 | 0.00 | 0.00 | 0.03 | 0.08 | 0.12 | 0.20 | 0.31 | 0.43 |
| Goodwill | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | 0.00 | 0.00 | 0.00 | 6.23 | 7.37 | 7.37 | 7.37 |
| Intangible Assets | 0.06 | -- | -- | -- | -- | 0.00 | 0.00 | 0.00 | 0.35 | 0.43 | 0.52 | 0.69 | 6.40 | 6.98 | 8.14 | 8.95 | 9.54 |
| Total Non-current Assets* | 1.06 | 0.00 | 0.00 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.40 | 0.52 | 0.65 | 0.97 | 6.74 | 13.93 | 16.33 | 17.37 | 18.23 |
| Total Assets | 6.78 | 9.98 | 10.89 | 13.06 | 4.76 | 5.99 | 6.31 | 5.94 | 7.98 | 8.87 | 6.34 | 7.36 | 14.57 | 24.23 | 31.70 | 34.94 | 26.67 |
| Accounts Payable | 0.11 | 0.27 | 0.16 | 0.12 | 0.07 | 0.09 | 0.11 | 0.35 | 0.11 | 0.14 | 0.21 | 0.40 | 0.33 | 0.55 | 0.54 | 0.52 | 1.08 |
| Total Current Liabilities | 1.28 | 1.25 | 1.07 | 1.81 | 1.41 | 1.32 | 1.25 | 1.49 | 1.28 | 1.20 | 2.35 | 2.37 | 2.37 | 2.83 | 2.96 | 3.57 | 6.76 |
| Total Non-current Liabilities* | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.01 | 0.01 | 0.04 | 0.06 | 0.08 | 0.20 | 0.28 | 0.47 | 0.59 | 3.07 | 0.98 |
| Total Liabilities | 1.28 | 1.25 | 1.07 | 1.81 | 1.41 | 1.32 | 1.25 | 1.50 | 1.32 | 1.26 | 2.44 | 2.56 | 2.65 | 3.30 | 3.55 | 6.63 | 7.74 |
| Retained Earnings | (240.22) | (236.93) | (235.84) | (233.55) | (232.95) | (231.39) | (230.35) | (229.37) | (227.01) | (226.11) | (225.07) | (222.63) | (215.48) | (206.44) | (199.20) | (198.53) | (196.29) |
| Total Stockholder Equity | 5.49 | 8.73 | 9.82 | 11.25 | 3.35 | 4.67 | 5.05 | 4.43 | 6.66 | 7.62 | 3.90 | 4.80 | 11.92 | 20.93 | 28.15 | 28.31 | 18.93 |
* 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 | 0.52 | 0.71 | 0.62 | 0.60 | 0.59 | 0.62 | 0.56 | 0.58 | 0.61 | 0.63 | 0.94 | 0.87 | 0.96 | 1.04 | 1.43 | 1.19 | 1.33 | 1.53 | 1.97 | 1.80 |
| Cost of Revenue* | 0.25 | 0.24 | 0.33 | 0.36 | 0.36 | 0.37 | 0.43 | 0.50 | 0.49 | 0.63 | 0.66 | 0.65 | 0.83 | 0.76 | 1.13 | 0.84 | 0.93 | 1.03 | 1.25 | 1.23 |
| Gross Profit | 0.27 | 0.47 | 0.29 | 0.24 | 0.23 | 0.25 | 0.14 | 0.08 | 0.12 | -0.00 | 0.29 | 0.22 | 0.12 | 0.28 | 0.30 | 0.34 | 0.41 | 0.50 | 0.72 | 0.57 |
| Research & Development | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.04 | 0.07 | 0.05 | 0.00 | 0.01 | 0.01 | 0.01 | 0.07 | 0.23 | 0.40 | 1.00 | 0.93 | 0.69 |
| Selling, General & Admin | 1.12 | 1.02 | 1.07 | 1.04 | 0.90 | 0.93 | 1.06 | 1.05 | 1.02 | 1.08 | 1.15 | 0.98 | 1.58 | 1.17 | 1.17 | 1.23 | 1.19 | 1.69 | 1.29 | 1.63 |
| Total Operating Expenses* | 1.12 | 1.03 | 1.08 | 1.05 | 0.91 | 0.94 | 1.06 | 1.15 | 1.14 | 1.18 | 1.57 | 21.97 | 12.98 | 1.48 | 1.57 | 7.50 | 9.44 | 5.02 | 3.51 | 3.68 |
| Operating Income | (0.84) | (0.56) | (0.79) | (0.80) | (0.68) | (0.69) | (0.93) | (1.07) | (1.02) | (1.18) | (1.28) | (0.92) | (1.09) | (1.20) | (1.27) | (7.16) | (9.03) | (4.52) | (2.79) | (3.11) |
| Pretax Income | (3.29) | 1.70 | (2.79) | (2.29) | (0.60) | (0.66) | (0.88) | (1.04) | (0.97) | (1.14) | (1.23) | (0.89) | (1.05) | (1.18) | (1.23) | (7.15) | (9.03) | (4.53) | (2.80) | (0.66) |
| Tax Provision | 0.00 | 0.00 | -0.00 | 0.00 | 0.00 | 0.01 | 0.00 | 0.00 | 0.01 | 0.00 | (0.01) | 0.00 | 0.00 | 0.04 | (0.01) | -0.00 | 0.00 | 0.01 | (0.09) | 0.00 |
| Net Income | (3.29) | 1.70 | (2.79) | (2.29) | (0.60) | (0.67) | (0.88) | (1.04) | (0.98) | (1.14) | (1.22) | (0.89) | (1.05) | (1.22) | (1.22) | (7.15) | (9.03) | (4.54) | (2.71) | (0.66) |
| Basic EPS | (0.84) | 0.43 | (1.05) | (0.74) | (0.38) | (0.59) | (4.35) | (11.25) | (0.04) | (0.07) | 0.70 | (0.30) | (0.78) | (0.60) | (9.95) | (0.23) | (0.29) | (0.15) | (0.09) | (0.02) |
| Diluted EPS | -- | 0.43 | -- | -- | -- | -- | -- | -- | -- | (0.07) | 0.70 | (0.30) | (0.78) | (0.60) | (9.95) | (0.23) | (0.29) | (0.15) | (0.09) | (0.02) |
* 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 | (0.54) | (0.65) | (0.74) | (1.55) | (0.04) | (0.68) | (0.89) | (0.91) | (0.98) | (0.63) | (0.70) | (0.11) | (1.34) | (0.84) | (1.06) | (0.96) | (1.51) | (2.40) | (1.78) | (2.29) |
| Capital Expenditures | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.01 | 0.02 | 0.01 |
| Free Cash Flow* | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | (0.70) | (0.11) | (1.34) | (0.84) | (1.06) | (0.96) | (1.51) | (2.41) | (1.80) | (2.30) |
| Investing Cash Flow | (0.86) | 0.52 | (0.74) | (6.35) | (1.65) | -- | -- | -- | -- | -- | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.03 | (0.01) | (0.02) | (0.01) |
| Financing Cash Flow | 0.00 | 0.00 | 0.00 | 0.85 | 8.17 | 0.03 | 0.23 | 0.67 | 1.48 | 0.00 | (0.07) | 0.00 | 4.50 | 1.47 | 0.00 | 0.00 | 0.00 | -- | 0.00 | 0.00 |
* Derived from reported values