Financial Statements — VANI
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 | 19.89 | 19.75 | 2.63 | 6.79 | 13.01 | 19.65 | 24.92 | 29.65 | 24.82 | 32.49 | 38.07 | 51.68 | 56.38 | 59.60 | 72.03 | 73.85 | 26.86 |
| Accounts Receivable | -- | 0.01 | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Total Current Assets | 21.64 | 21.55 | 4.18 | 8.72 | 14.85 | 21.40 | 26.34 | 31.50 | 30.68 | 36.22 | 40.68 | 54.46 | 57.39 | 60.22 | 73.22 | 75.44 | 27.62 |
| Property, Plant & Equipment | 2.85 | 2.75 | 2.73 | 1.58 | 1.61 | 1.64 | 1.71 | 1.69 | 1.13 | 1.08 | 1.11 | 1.25 | 0.10 | 0.12 | 0.12 | 0.14 | 0.15 |
| Total Non-current Assets* | 20.00 | 20.81 | 20.87 | 20.19 | 20.60 | 21.50 | 21.89 | 22.29 | 22.64 | 23.39 | 3.90 | 2.56 | 8.26 | 8.32 | 0.41 | 0.48 | 0.52 |
| Total Assets | 41.64 | 42.35 | 25.05 | 28.91 | 35.45 | 42.90 | 48.22 | 53.79 | 53.32 | 59.61 | 44.58 | 57.02 | 65.65 | 68.54 | 73.63 | 75.92 | 28.15 |
| Accounts Payable | 1.20 | 1.47 | 1.43 | 1.76 | 1.00 | 0.82 | 0.65 | 0.57 | 1.89 | 1.99 | 0.75 | 1.97 | 0.97 | 0.74 | 0.76 | 0.67 | 1.61 |
| Short-term Debt | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | 2.20 |
| Total Current Liabilities | 6.66 | 6.78 | 6.83 | 6.72 | 6.20 | 6.27 | 5.78 | 6.14 | 7.43 | 7.09 | 5.86 | 5.62 | 2.59 | 2.38 | 3.92 | 3.66 | 6.94 |
| Total Non-current Liabilities* | 16.01 | 16.49 | 16.91 | 17.28 | 17.63 | 18.29 | 18.62 | 18.94 | 19.68 | 20.13 | 0.35 | 0.04 | 0.00 | 0.00 | 0.10 | 0.15 | 0.20 |
| Total Liabilities | 22.67 | 23.27 | 23.74 | 24.00 | 23.83 | 24.56 | 24.40 | 25.08 | 27.11 | 27.21 | 6.21 | 5.66 | 2.59 | 2.38 | 4.02 | 3.81 | 7.14 |
| Retained Earnings | (161.68) | (155.31) | (141.90) | (135.37) | (128.23) | (115.87) | (109.83) | (104.48) | (92.41) | (85.63) | (79.10) | (65.50) | (333.87) | (330.80) | (327.30) | (324.80) | (322.51) |
| Total Stockholder Equity | 18.97 | 19.09 | 1.31 | 4.91 | 11.62 | 18.33 | 23.82 | 28.71 | 26.21 | 32.39 | 38.37 | 51.36 | 63.06 | 66.15 | 69.61 | 72.10 | 21.01 |
* 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 | -- | -- | -- | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Cost of Revenue | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Gross Profit | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Research & Development | 4.46 | 4.39 | 4.63 | 4.52 | 4.76 | 4.22 | 4.30 | 4.20 | 3.51 | 3.73 | 4.71 | 4.44 | 3.86 | 3.96 | 8.83 | 3.86 | 0.84 | 0.65 | 0.64 | 0.70 |
| Selling, General & Admin | 2.42 | 2.43 | 2.18 | 2.21 | 2.70 | 2.34 | 2.16 | 2.11 | 2.17 | 2.50 | 1.51 | 2.70 | 3.14 | 2.65 | 1.90 | 1.59 | 2.13 | 1.47 | 0.98 | 1.53 |
| Total Operating Expenses | 6.87 | 6.82 | 6.81 | 6.73 | 7.46 | 6.56 | 6.46 | 6.31 | 5.68 | 6.23 | 6.22 | 7.14 | 7.00 | 6.60 | 10.45 | 5.44 | 3.13 | 2.22 | 1.42 | 2.50 |
| Operating Income | (6.87) | (6.82) | (6.81) | (6.72) | (7.46) | (6.56) | (6.46) | (6.31) | (5.68) | (6.23) | (6.22) | (7.14) | (7.00) | (6.60) | (10.45) | (5.44) | (3.13) | (2.22) | (1.29) | (2.50) |
| Net Income | (6.37) | (6.78) | (6.63) | (6.53) | (7.14) | (6.30) | (6.05) | (6.04) | (5.36) | (6.04) | (6.03) | (6.78) | (6.53) | (6.32) | (10.02) | 1.42 | (3.08) | (2.21) | (1.28) | (2.50) |
| Basic EPS | (0.07) | (0.08) | (0.09) | (0.11) | (0.12) | (0.11) | (0.34) | (0.11) | (0.10) | 0.12 | -- | (0.13) | (0.13) | (0.12) | -- | 0.04 | (0.08) | -- | -- | -- |
| Diluted EPS | (0.07) | (0.08) | (0.09) | (0.11) | (0.12) | (0.11) | (0.11) | (0.11) | (0.10) | -- | -- | (0.13) | -- | -- | -- | 0.04 | -- | -- | -- | -- |
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 | (6.03) | (6.20) | (6.72) | (6.35) | (6.09) | (5.16) | (5.81) | (5.66) | (4.80) | (4.51) | (3.48) | (7.70) | (5.55) | (6.97) | (5.20) | (8.39) | (3.22) | (1.97) | (2.42) | (1.80) |
| Capital Expenditures | 0.10 | 0.00 | 0.27 | 0.82 | 0.07 | 0.01 | 0.30 | 0.04 | 0.04 | 0.18 | 0.74 | 0.06 | 0.04 | 0.04 | 0.09 | 0.23 | 0.00 | 0.02 | -- | -- |
| Free Cash Flow* | (6.13) | (6.20) | (6.99) | (7.17) | (6.16) | (5.17) | (6.11) | (5.70) | (4.84) | (4.69) | (4.22) | (7.76) | (5.59) | (7.00) | (5.29) | (8.62) | (3.22) | (1.99) | -- | -- |
| Investing Cash Flow | (0.10) | -0.00 | (0.27) | (0.82) | (0.07) | -0.00 | (0.30) | (0.04) | (0.04) | (0.18) | (0.74) | (0.06) | (0.04) | (0.04) | (0.04) | 7.72 | 0.00 | (8.02) | -- | -- |
| Financing Cash Flow | 5.83 | 9.71 | 20.59 | 2.95 | (0.09) | (0.17) | 4.83 | 0.43 | 0.11 | 13.69 | 0.02 | 0.10 | 0.01 | 8.00 | 0.00 | 63.39 | -- | -- | 0.00 | 0.00 |
* Derived from reported values
