Financial Statements — WATT
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 | 31.19 | 36.60 | 12.90 | 8.66 | 10.09 | 1.45 | 4.86 | 10.66 | 16.58 | 19.96 | 26.34 | 30.36 | 35.67 | 42.77 | 28.28 | 38.23 | 44.76 |
| Accounts Receivable | 3.27 | 3.20 | 1.24 | 0.66 | 0.31 | 0.15 | 0.06 | 0.03 | 0.12 | 0.17 | 0.10 | 0.24 | 0.21 | 0.20 | 0.18 | 0.12 | 0.16 |
| Inventory | 2.50 | 1.26 | 1.24 | 0.69 | 0.64 | 0.74 | 0.56 | 0.62 | 0.20 | 0.18 | 0.07 | 0.16 | 0.05 | 0.07 | -- | -- | -- |
| Total Current Assets | 43.85 | 44.21 | 16.58 | 10.97 | 11.89 | 2.85 | 5.93 | 11.68 | 17.79 | 21.56 | 27.16 | 31.87 | 37.20 | 43.47 | 29.17 | 39.00 | 45.66 |
| Property, Plant & Equipment | 0.50 | 0.30 | 0.29 | 0.31 | 0.33 | 0.40 | 0.39 | 0.38 | 0.39 | 0.39 | 0.38 | 0.44 | 0.50 | 0.48 | 0.52 | 0.48 | 0.45 |
| Total Non-current Assets* | 1.54 | 1.38 | 1.26 | 1.37 | 1.49 | 1.10 | 1.25 | 1.41 | 1.80 | 1.99 | 2.16 | 2.59 | 2.83 | 0.93 | 1.23 | 1.38 | 1.55 |
| Total Assets | 45.38 | 45.59 | 17.84 | 12.34 | 13.38 | 3.95 | 7.18 | 13.09 | 19.60 | 23.54 | 29.32 | 34.46 | 40.02 | 44.40 | 30.40 | 40.38 | 47.21 |
| Accounts Payable | 2.27 | 0.91 | 1.28 | 0.77 | 1.28 | 1.54 | 1.80 | 1.53 | 0.77 | 1.05 | 1.35 | 0.89 | 1.01 | 0.93 | 0.92 | 1.65 | 1.45 |
| Short-term Debt | 0.31 | 0.04 | 0.14 | 0.35 | 0.52 | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Total Current Liabilities | 4.99 | 2.38 | 3.40 | 2.72 | 2.92 | 3.52 | 3.99 | 5.57 | 3.82 | 4.73 | 6.84 | 3.76 | 3.97 | 3.64 | 4.40 | 4.06 | 4.03 |
| Total Non-current Liabilities* | 0.30 | 0.45 | 0.72 | 0.84 | 0.96 | 0.00 | 0.19 | 0.37 | 0.74 | 0.92 | 1.09 | 1.44 | 1.62 | 0.03 | 0.00 | 0.19 | 0.39 |
| Total Liabilities | 5.29 | 2.83 | 4.11 | 3.56 | 3.88 | 3.52 | 4.17 | 5.94 | 4.56 | 5.64 | 7.93 | 5.20 | 5.58 | 3.67 | 4.40 | 4.25 | 4.42 |
| Retained Earnings | (414.60) | (411.69) | (408.71) | (406.59) | (403.81) | (396.31) | (392.90) | (388.64) | (377.44) | (373.32) | (369.33) | (356.54) | (350.57) | (343.55) | (326.98) | (314.51) | (303.50) |
| Total Stockholder Equity | 40.09 | 42.76 | 13.73 | 8.77 | 9.50 | 0.43 | 3.01 | 7.16 | 15.04 | 17.90 | 21.39 | 29.26 | 34.44 | 40.73 | 26.00 | 36.12 | 42.79 |
* 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 | 3.09 | 3.08 | 3.04 | 1.27 | 0.98 | 0.34 | 0.43 | 0.23 | 0.05 | 0.06 | 0.09 | 0.17 | 0.12 | 0.10 | 0.18 | 0.22 | 0.23 | 0.22 | 0.23 | 0.20 |
| Cost of Revenue | 3.00 | 1.99 | 1.90 | 0.81 | 0.64 | 0.25 | 0.22 | 0.31 | 0.12 | 0.11 | 0.01 | 0.05 | 0.08 | 0.14 | 0.38 | 0.42 | 0.27 | 0.20 | -- | -- |
| Gross Profit* | 0.09 | 1.10 | 1.14 | 0.46 | 0.34 | 0.09 | 0.21 | (0.08) | (0.08) | (0.04) | 0.08 | 0.12 | 0.03 | (0.04) | (0.20) | (0.20) | (0.04) | 0.01 | -- | -- |
| Research & Development | 1.14 | 1.01 | 0.94 | 0.90 | 1.10 | 1.19 | 1.79 | 1.70 | 2.44 | 2.35 | 2.39 | 2.46 | 2.88 | 3.08 | 2.87 | 2.89 | 3.21 | 3.53 | 5.14 | 4.74 |
| Selling, General & Admin | 1.45 | 1.39 | 1.07 | 1.25 | 1.29 | 0.90 | 1.26 | 1.02 | 1.59 | 1.84 | 1.51 | 1.70 | 2.10 | 1.96 | 2.10 | 1.93 | 2.02 | 2.03 | 2.07 | 1.99 |
| Total Operating Expenses* | 3.29 | 2.94 | 2.57 | 2.65 | 3.12 | 3.70 | 3.72 | 3.51 | 4.58 | 6.62 | 4.68 | 5.20 | 6.16 | 6.25 | 6.15 | 5.91 | 7.03 | 7.17 | -- | -- |
| Operating Income | (3.19) | (1.85) | (1.43) | (2.19) | (2.78) | (3.61) | (3.51) | (3.58) | (4.65) | (6.66) | (4.60) | (5.08) | (6.13) | (6.29) | (6.36) | (6.11) | (7.06) | (7.16) | (9.42) | (12.47) |
| Net Income | (2.91) | (1.66) | (1.33) | (2.11) | (2.79) | (3.37) | (4.13) | (3.41) | (4.26) | (6.60) | (4.60) | (4.11) | (4.00) | (6.65) | (6.14) | (5.96) | (7.02) | (7.15) | (9.42) | (12.46) |
| Basic EPS | (0.53) | (0.43) | (4.95) | (1.31) | (0.08) | (0.12) | (0.31) | (0.50) | (0.65) | (1.11) | (3.17) | (0.86) | (0.04) | (0.08) | (0.08) | (0.08) | (0.09) | -- | -- | -- |
| Diluted EPS | (0.53) | (0.43) | (4.95) | (1.31) | (0.08) | (0.12) | (0.31) | (0.50) | (0.65) | (1.11) | (3.17) | (0.86) | (0.04) | (0.08) | (0.08) | (0.08) | (0.09) | -- | -- | -- |
* 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 | (5.28) | (5.57) | (2.41) | (2.47) | (2.88) | (4.67) | (2.68) | (4.05) | (5.77) | (5.07) | (3.33) | (4.22) | (6.33) | (5.36) | (4.80) | (5.38) | (7.10) | (6.36) | (6.22) | (9.96) |
| Capital Expenditures | 0.24 | 0.04 | 0.04 | 0.01 | 0.02 | 0.02 | 0.00 | 0.07 | 0.06 | 0.00 | 0.09 | 0.05 | 0.05 | -- | 0.04 | 0.01 | 0.07 | 0.04 | 0.06 | 0.11 |
| Free Cash Flow* | (5.52) | (5.61) | (2.45) | (2.47) | (2.89) | (4.69) | (2.68) | (4.11) | (5.83) | (5.07) | (3.42) | (4.27) | (6.38) | -- | (4.84) | (5.40) | (7.16) | (6.40) | (6.28) | (10.07) |
| Investing Cash Flow | (0.23) | (0.04) | (0.04) | (0.01) | (0.02) | (0.02) | 0.00 | (0.06) | (0.06) | -0.00 | (0.09) | (0.05) | (0.05) | -- | (0.04) | (0.01) | (0.07) | (0.04) | (0.06) | (0.11) |
| Financing Cash Flow | 0.10 | 31.81 | (0.05) | 6.71 | 1.47 | 13.42 | 2.58 | 0.71 | (0.03) | 1.85 | 0.78 | 0.89 | 0.00 | 5.42 | 0.77 | 0.08 | 0.06 | 0.10 | 27.07 | 0.12 |
* Derived from reported values