Income Statement
| Year Ending Dec 2025 (Update) | Year Ending Dec 2024 (Update) | Year Ending Dec 2023 (Update) | Year Ending Dec 2022 (Update) | |
|---|---|---|---|---|
| Net Sales | 39.55 | 57.80 | 176.23 | 111.30 |
| Revenue | 39.55 | 57.80 | 176.23 | 111.30 |
| Total Revenue | 39.55 | 57.80 | 176.23 | 111.30 |
| Selling/General/Administrative Expense | 29.97 | 37.84 | 45.02 | 49.44 |
| Labor & Related Expense | 4.91 | 6.68 | 12.15 | 13.25 |
| Selling/General/Administrative Expenses, Total | 34.89 | 44.53 | 57.17 | 62.68 |
| Research & Development | 112.67 | 111.42 | 221.66 | 249.90 |
| Restructuring Charge | -- | 0.30 | 16.40 | -- |
| Impairment-Assets Held for Use | 13.24 | 5.52 | 155.01 | -- |
| Other Unusual Expense (Income) | -- | -- | -- | -- |
| Unusual Expense (Income) | 13.24 | 5.82 | 171.41 | -- |
| Total Operating Expense | 160.79 | 161.77 | 450.24 | 312.58 |
| Operating Income | -121.24 | -103.97 | -274.01 | -201.28 |
| Interest Income, Non-Operating | 1.30 | 5.86 | 11.10 | 9.43 |
| Interest/Investment Income, Non-Operating | 1.30 | 5.86 | 11.10 | 9.43 |
| Interest Income (Expense), Net Non-Operating | -- | -- | -- | -- |
| Interest Income (Expense), Net-Non-Operating, Total | 1.30 | 5.86 | 11.10 | 9.43 |
| Other Non-Operating Income (Expense) | -3.56 | -- | -- | -- |
| Other, Net | -3.56 | -- | -- | -- |
| Net Income Before Taxes | -123.50 | -98.11 | -262.90 | -191.85 |
| Income Tax – Total | -0.57 | -0.17 | -5.07 | 0.43 |
| Income After Tax | -122.93 | -97.94 | -257.83 | -192.28 |
| Minority Interest | -- | -- | 0.00 | 0.00 |
| Net Income Before Extraordinary Items | -122.93 | -97.94 | -257.83 | -192.28 |
| Net Income | -122.93 | -97.94 | -257.83 | -192.28 |
| Income Available to Common Excluding Extraordinary Items | -122.93 | -97.94 | -257.83 | -192.28 |
| Income Available to Common Stocks Including Extraordinary Items | -122.93 | -97.94 | -257.83 | -192.28 |
| Basic Weighted Average Shares | 280.19 | 201.70 | 174.44 | 154.35 |
| Basic EPS Excluding Extraordinary Items | -0.44 | -0.49 | -1.48 | -1.25 |
| Basic EPS Including Extraordinary Items | -0.44 | -0.49 | -1.48 | -1.25 |
| Diluted Net Income | -122.93 | -97.94 | -257.83 | -192.28 |
| Diluted Weighted Average Shares | 280.19 | 201.70 | 174.44 | 154.35 |
| Diluted EPS Excluding Extraordinary Items | -0.44 | -0.49 | -1.48 | -1.25 |
| Diluted EPS Including Extraordinary Items | -0.44 | -0.49 | -1.48 | -1.25 |
| Gross Dividends - Common Stock | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Special Items | 13.24 | 5.82 | 171.41 | -- |
| Normalized Income Before Taxes | -110.27 | -92.29 | -91.49 | -191.85 |
| Effect of Special Items on Income Taxes | 4.63 | 2.04 | 59.99 | -- |
| Income Taxes Excluding Impact of Special Items | 4.06 | 1.87 | 54.92 | 0.43 |
| Normalized Income After Taxes | -114.33 | -94.16 | -146.41 | -192.28 |
| Normalized Income Available to Common | -114.33 | -94.16 | -146.41 | -192.28 |
| Basic Normalized EPS | -0.41 | -0.47 | -0.84 | -1.25 |
| Diluted Normalized EPS | -0.41 | -0.47 | -0.84 | -1.25 |
| Amortization of Intangibles, Supplemental | -- | -- | -- | -- |
| Depreciation, Supplemental | 4.00 | 5.11 | 15.07 | 12.11 |
| Rental Expense, Supplemental | 5.72 | 6.38 | 9.42 | 11.03 |
| Stock-Based Compensation, Supplemental | 9.08 | 12.38 | 27.36 | 31.65 |
| Minority Interest, Supplemental | -- | -- | 0.00 | 0.00 |
| Research & Development Expense, Supplemental | 112.67 | 111.42 | 221.66 | 249.90 |
| Audit-Related Fees, Supplemental | 1.80 | 2.30 | 2.39 | 2.10 |
| Audit-Related Fees | -- | -- | -- | -- |
| Tax Fees, Supplemental | -- | -- | 0.00 | 0.14 |
| All Other Fees Paid to Auditor, Supplemental | -- | -- | -- | -- |
| Operating Margin | -306.53 | -179.88 | -155.48 | -180.85 |
| Pretax Margin | -312.25 | -169.74 | -149.18 | -172.37 |
| Net Profit Margin | -310.81 | -169.45 | -146.30 | -172.76 |
| Normalized EBIT | -108.00 | -98.15 | -102.59 | -201.28 |
| Normalized EBITDA | -104.00 | -93.04 | -87.53 | -189.17 |
| Current Tax - Foreign | -0.57 | -0.17 | 0.19 | 0.50 |
| Current Tax - Total | -0.57 | -0.17 | 0.19 | 0.50 |
| Deferred Tax - Foreign | 0.00 | 0.00 | -5.26 | -0.07 |
| Deferred Tax - Total | 0.00 | 0.00 | -5.26 | -0.07 |
| Income Tax - Total | -0.57 | -0.17 | -5.07 | 0.43 |
| Defined Contribution Expense - Domestic | 0.80 | 1.20 | 1.80 | 1.50 |
| Total Pension Expense | 0.80 | 1.20 | 1.80 | 1.50 |
In millions of USD (except for per share items)
Source: LSEG