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Income Statement · Annual · Millions · USD

Line item	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Total revenues	28	46	63	73	66	82	98
Cost of revenue	48	107	46	34	49	33	52
Gross profit	(21)	(61)	17	39	17	49	46
Research and development	49	50	74	88	56	38	36
Selling, general and administrative	32	51	135	137	89	81	85
Total operating expenses	81	100	210	232	162	123	132
Operating income	(102)	(162)	(193)	(193)	(146)	(74)	(86)
Interest expense	–	1	1	0	0	1	1
Interest and investment income	3	0	3	3	7	5	6
Other non-operating income (expense)	(0)	(0)	(3)	0	(0)	(0)	3
Income before taxes	(100)	(163)	(32)	(169)	(134)	(73)	(77)
Income tax expense	–	0	0	0	0	(0)	0
Net income from continuing operations	–	(163)	(32)	(169)	(134)	(72)	(77)
Net income	(100)	(163)	(32)	(169)	(134)	(72)	(77)
Net income to common shareholders	–	(163)	(32)	(169)	(134)	(72)	(77)