Financial Statements — XFOR
Balance Sheet
(in millions USD)| Metric | Q2
2026 | Q1
2026 | Q3
2025 | Q2
2025 | Q1
2025 | Q3
2024 | Q2
2024 | Q1
2024 | Q3
2023 | Q3
2022 | Q2
2022 | Q1
2022 | Q3
2021 | Q2
2021 | Q1
2021 |
|---|
| Cash & Equivalents | 195.10 | 216.91 | 69.63 | 39.22 | 40.26 | 97.41 | 147.22 | 60.49 | 131.58 | 93.41 | 47.38 | 66.43 | 76.39 | 95.16 | 114.95 |
| Accounts Receivable | 2.05 | 1.11 | 0.89 | 1.15 | 0.51 | 0.00 | 0.00 | -- | -- | -- | -- | -- | -- | -- | -- |
| Total Current Assets | 218.86 | 241.98 | 132.81 | 72.94 | 95.70 | 142.97 | 175.42 | 87.33 | 147.87 | 98.22 | 52.59 | 70.88 | 80.70 | 101.37 | 119.96 |
| Property, Plant & Equipment | 0.11 | 0.15 | 0.22 | 0.25 | 0.49 | 0.82 | 0.81 | 0.74 | 0.77 | 0.99 | 1.31 | 1.40 | 1.63 | 1.75 | 1.79 |
| Goodwill | 17.35 | 17.35 | 17.35 | 17.35 | 17.35 | 17.35 | 17.35 | 17.35 | 17.35 | 17.35 | 17.35 | 17.35 | 27.11 | 27.11 | 27.11 |
| Intangible Assets | 13.10 | 9.06 | 9.44 | 9.63 | 9.81 | 10.19 | 10.38 | -- | -- | -- | -- | -- | -- | -- | -- |
| Total Non-current Assets* | 34.21 | 28.30 | 30.75 | 32.23 | 34.32 | 35.19 | 35.20 | 24.85 | 25.42 | 26.18 | 28.43 | 28.74 | 39.82 | 40.29 | 41.08 |
| Total Assets | 253.06 | 270.28 | 163.56 | 105.17 | 130.01 | 178.17 | 210.61 | 112.18 | 173.29 | 124.41 | 81.02 | 99.63 | 120.52 | 141.66 | 161.04 |
| Accounts Payable | 3.93 | 5.07 | 5.05 | 7.71 | 11.12 | 8.58 | 7.99 | 8.94 | 8.13 | 5.99 | 3.68 | 3.57 | 2.42 | 2.53 | 3.09 |
| Total Current Liabilities | 19.37 | 23.77 | 23.51 | 22.90 | 25.88 | 29.26 | 28.90 | 23.54 | 25.43 | 19.48 | 22.00 | 14.97 | 13.23 | 13.12 | 14.67 |
| Long-term Debt | 75.00 | 75.00 | 75.00 | 75.00 | 75.00 | 75.00 | 75.00 | 55.00 | 55.00 | 32.50 | 32.50 | 32.50 | 32.50 | 32.50 | 32.50 |
| Total Non-current Liabilities* | 78.24 | 78.06 | 78.43 | 78.30 | 81.19 | 89.29 | 87.26 | 87.61 | 80.27 | 53.25 | 28.94 | 34.94 | 38.61 | 39.33 | 39.43 |
| Total Liabilities | 97.61 | 101.83 | 101.94 | 101.20 | 107.07 | 118.54 | 116.16 | 111.15 | 105.70 | 72.73 | 50.95 | 49.91 | 51.84 | 52.45 | 54.10 |
| Retained Earnings | (630.95) | (614.79) | (570.63) | (540.81) | (515.07) | (475.53) | (438.84) | (529.67) | (458.77) | (400.76) | (326.05) | (304.84) | (252.66) | (232.49) | (212.85) |
| Total Stockholder Equity | 155.45 | 168.45 | 61.62 | 3.97 | 22.94 | 59.62 | 94.45 | 1.04 | 67.59 | 74.05 | 30.07 | 49.71 | 68.68 | 87.34 | 105.06 |
* 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 | Q4
2022 | Q3
2022 | Q2
2022 | Q1
2022 | Q4
2021 | Q3
2021 | Q2
2021 | Q1
2021 |
|---|
| Total Revenue | 8.81 | 2.71 | 2.57 | 1.77 | 1.97 | 28.81 | 1.30 | 0.56 | 0.70 | -- | -- | -- | -- | -- | -- | -- | 0.00 | 0.00 | 0.00 | 0.00 |
| Cost of Revenue | 1.62 | 0.60 | 0.36 | 0.35 | 0.33 | 4.72 | 0.30 | 0.23 | 0.27 | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Gross Profit | 0.78 | 1.90 | 1.93 | 1.22 | 1.42 | (3.82) | 1.18 | 0.33 | 0.30 | -- | -- | 0.00 | -- | -- | -- | -- | -- | -- | -- | -- |
| Research & Development | 15.08 | 15.45 | 18.52 | 17.34 | 18.35 | 18.51 | 21.70 | 19.17 | 20.91 | 19.85 | 15.27 | 19.08 | 19.01 | 22.06 | 13.82 | 14.11 | 12.16 | 13.19 | 13.19 | 12.10 |
| Selling, General & Admin | 8.50 | 6.97 | 7.38 | 11.59 | 9.53 | 15.02 | 15.15 | 15.66 | 13.28 | 17.43 | 9.93 | 8.13 | 6.56 | 7.24 | 6.75 | 7.66 | 7.14 | 5.93 | 5.80 | 5.83 |
| Total Operating Expenses | 17.17 | 22.21 | 25.63 | 28.72 | 27.65 | 5.63 | 36.89 | 34.83 | (70.81) | 37.29 | 25.20 | 27.21 | 25.58 | 29.30 | 20.57 | 21.27 | 29.06 | 19.12 | 19.00 | 17.94 |
| Operating Income | (16.39) | (20.31) | (23.70) | (27.51) | (26.23) | (9.44) | (35.72) | (34.50) | 71.10 | (37.29) | (25.20) | (27.21) | (25.58) | (29.30) | (20.57) | (21.27) | (29.05) | (19.12) | (19.00) | (17.94) |
| Interest Expense | -- | -- | -- | -- | -- | -- | -- | 2.41 | 2.18 | 1.87 | 1.89 | 1.63 | 1.14 | 1.11 | 0.92 | 0.91 | 0.93 | 0.92 | 0.91 | 0.89 |
| Pretax Income | (16.15) | (20.24) | (23.92) | (29.84) | (25.70) | 0.32 | (39.56) | (36.68) | 90.85 | (51.75) | (19.10) | (2.28) | (29.09) | (24.02) | (21.21) | (21.94) | (30.20) | (20.17) | (19.63) | (18.67) |
| Tax Provision | 0.00 | 0.00 | 0.00 | (0.03) | 0.04 | 0.03 | 0.26 | 0.02 | 0.02 | 0.02 | 0.03 | 0.03 | 0.01 | 0.00 | 0.00 | 0.02 | 0.00 | 0.00 | 0.01 | 0.01 |
| Net Income | (16.16) | (20.24) | (23.92) | (29.81) | (25.74) | 0.28 | (39.82) | (36.70) | 90.83 | (51.77) | (19.13) | (2.31) | (29.10) | (21.59) | (21.21) | (21.96) | (30.21) | (20.17) | (19.64) | (18.68) |
| Basic EPS | (0.13) | (0.16) | 2.25 | (0.69) | (3.47) | 0.04 | (0.20) | (0.18) | 0.45 | (0.26) | (0.09) | (0.01) | (0.20) | (0.16) | -- | -- | -- | -- | -- | -- |
| Diluted EPS | (0.13) | (0.16) | 2.25 | (0.69) | (3.47) | 0.04 | (0.20) | (0.18) | 0.45 | (0.26) | (0.09) | (0.01) | (0.20) | (0.16) | -- | -- | -- | -- | -- | -- |
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 | Q4
2022 | Q3
2022 | Q2
2022 | Q1
2022 | Q4
2021 | Q3
2021 | Q2
2021 | Q1
2021 |
|---|
| Operating Cash Flow | (20.79) | (19.60) | (15.53) | (27.82) | (29.90) | (12.37) | (32.99) | (34.03) | (63.90) | (33.60) | (27.75) | (68.80) | (19.09) | (26.51) | (18.47) | (20.23) | (19.05) | (14.21) | (19.20) | (18.44) |
| Capital Expenditures | -- | -- | 0.00 | 0.00 | 0.00 | 0.00 | -- | 0.09 | 0.13 | 0.06 | 0.04 | 0.03 | 0.03 | 0.01 | 0.04 | 0.02 | 0.01 | 0.02 | 0.09 | 0.50 |
| Free Cash Flow* | -- | -- | (15.53) | (27.82) | (29.90) | (12.37) | -- | (34.12) | (64.03) | (33.66) | (27.78) | (68.82) | (19.13) | (26.52) | (18.51) | (20.25) | (19.07) | (14.23) | (19.28) | (18.94) |
| Investing Cash Flow | (1.00) | 19.25 | 16.85 | (28.67) | 23.11 | (3.14) | (8.62) | (15.93) | 96.86 | (5.32) | (4.83) | (10.05) | (0.03) | (0.01) | (0.04) | (0.02) | (0.01) | (0.02) | (0.09) | (0.50) |
| Financing Cash Flow | 0.08 | 0.00 | 146.09 | 86.91 | 5.63 | 0.00 | 0.14 | 0.00 | 20.16 | 0.00 | 0.10 | 88.42 | 60.64 | (2.12) | (0.35) | 4.96 | 24.57 | (4.44) | (0.92) | 55.04 |
* Derived from reported values
