Financial Statements — VRDN
Balance Sheet
(in billions 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 | 0.16 | 0.18 | 0.17 | 0.12 | 0.12 | 0.20 | 0.11 | 0.09 | 0.11 | 0.09 | 0.09 | 0.34 | 0.03 | 0.03 | 0.14 | 0.03 | 0.05 |
| Short-term Investments | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | 0.14 | 0.07 | 0.08 | 0.07 |
| Total Current Assets | 1.08 | 0.78 | 0.57 | 0.58 | 0.66 | 0.77 | 0.58 | 0.63 | 0.32 | 0.35 | 0.38 | 0.44 | 0.17 | 0.18 | 0.22 | 0.12 | 0.12 |
| Property, Plant & Equipment | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Intangible Assets | 0.01 | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Total Non-current Assets* | 0.02 | 0.00 | 0.01 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.01 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Assets | 1.10 | 0.79 | 0.58 | 0.58 | 0.66 | 0.77 | 0.59 | 0.63 | 0.33 | 0.35 | 0.39 | 0.44 | 0.17 | 0.18 | 0.22 | 0.12 | 0.12 |
| Accounts Payable | 0.01 | 0.01 | 0.01 | 0.01 | 0.00 | 0.01 | 0.00 | 0.00 | 0.00 | 0.00 | 0.01 | 0.01 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Current Liabilities | 0.06 | 0.05 | 0.05 | 0.05 | 0.03 | 0.04 | 0.04 | 0.03 | 0.02 | 0.03 | 0.03 | 0.03 | 0.02 | 0.01 | 0.01 | 0.02 | 0.02 |
| Long-term Debt | -- | -- | 0.02 | 0.01 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.00 | 0.00 | 0.00 | 0.00 | -- | -- | -- | -- |
| Total Non-current Liabilities* | 0.37 | 0.10 | 0.02 | 0.01 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.01 | 0.01 | 0.01 | 0.01 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 0.44 | 0.15 | 0.07 | 0.07 | 0.06 | 0.06 | 0.06 | 0.05 | 0.05 | 0.04 | 0.04 | 0.03 | 0.03 | 0.02 | 0.02 | 0.02 | 0.02 |
| Retained Earnings | (1.57) | (1.44) | (1.22) | (1.18) | (1.08) | (0.92) | (0.84) | (0.77) | (0.66) | (0.61) | (0.56) | (0.44) | (0.41) | (0.38) | (0.33) | (0.32) | (0.30) |
| Total Stockholder Equity | 0.66 | 0.64 | 0.50 | 0.52 | 0.60 | 0.71 | 0.53 | 0.58 | 0.28 | 0.32 | 0.35 | 0.41 | 0.14 | 0.17 | 0.20 | 0.10 | 0.11 |
* 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 | 0.28 | 0.14 | 0.13 | 70.57 | 0.08 | 0.07 | 0.07 | 0.09 | 0.07 | 0.07 | 0.07 | 0.07 | 0.07 | 0.10 | 0.11 | 1.20 | 0.26 | 0.22 | 0.21 | 0.21 |
| Selling, General & Admin | 54.98 | 38.68 | -- | 24.32 | 20.22 | 17.10 | 15.58 | 14.41 | 16.07 | 15.03 | 32.99 | 20.91 | 19.26 | 21.83 | 9.85 | 8.86 | 8.11 | 8.36 | 6.90 | 6.22 |
| Total Operating Expenses | 126.55 | 116.31 | 122.88 | 110.58 | 106.84 | 93.94 | 87.54 | 83.57 | 72.26 | 55.97 | 71.55 | 51.30 | 59.35 | 72.57 | 49.17 | 30.98 | 29.82 | 26.11 | 29.30 | 14.34 |
| Operating Income | (126.27) | (116.17) | (122.75) | (40.01) | (106.77) | (93.87) | (87.47) | (83.48) | (72.19) | (55.90) | (71.48) | (51.22) | (59.27) | (72.47) | (49.07) | (29.78) | (29.56) | (25.89) | (29.08) | (14.13) |
| Interest Expense | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | 0.20 | 0.20 | 0.20 | 0.20 | 0.20 | -- | -- | -- |
| Net Income | (127.12) | (104.90) | (120.35) | (34.60) | (100.73) | (86.91) | (79.72) | (76.69) | (64.99) | (48.54) | (66.86) | (47.66) | (55.06) | (68.15) | (45.78) | (28.90) | (29.49) | (25.69) | (28.95) | (14.04) |
| Basic EPS | -- | -- | -- | -- | -- | -- | -- | (1.15) | (1.02) | (0.79) | (1.34) | (1.09) | (1.27) | (1.61) | (1.15) | (0.86) | (1.06) | (0.98) | (0.71) | (1.25) |
| Diluted EPS | -- | -- | -- | -- | -- | -- | -- | (1.15) | (1.02) | (0.79) | (1.34) | (1.09) | (1.27) | (1.61) | (1.15) | (0.86) | (1.06) | (0.98) | (0.71) | (1.25) |
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 | (105.32) | (119.65) | (23.75) | (84.61) | (75.37) | (92.65) | (73.33) | (67.71) | (46.06) | (45.22) | (38.00) | (38.98) | (45.21) | (61.97) | (34.04) | (20.67) | (18.09) | (21.04) | (16.53) | (11.88) |
| Capital Expenditures | 1.31 | 0.02 | 0.24 | 0.13 | 0.04 | 0.09 | 0.11 | 0.29 | 0.10 | 0.00 | 0.05 | 0.40 | 0.33 | 0.12 | 0.23 | 0.10 | 0.29 | 0.18 | 0.08 | 0.19 |
| Free Cash Flow* | (106.63) | (119.68) | (23.99) | (84.74) | (75.42) | (92.74) | (73.45) | (68.00) | (46.16) | (45.22) | (38.05) | (39.39) | (45.54) | (62.09) | (34.27) | (20.76) | (18.38) | (21.22) | (16.62) | (12.06) |
| Investing Cash Flow | (231.16) | 77.26 | (339.42) | 126.08 | 75.72 | 100.06 | (62.91) | (84.67) | 61.98 | (143.04) | (169.71) | 48.04 | 40.71 | (13.29) | (180.60) | 42.65 | 13.96 | 8.86 | (80.21) | 6.25 |
| Financing Cash Flow | 325.12 | 6.36 | 405.91 | 10.86 | 0.76 | 9.21 | 35.52 | 245.02 | 0.11 | 177.08 | 198.94 | 15.46 | 3.07 | 8.20 | 26.01 | 290.93 | 4.56 | 0.74 | 0.17 | 116.79 |
* Derived from reported values
