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Income Statement · Annual · Millions · USD

Line item	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Total revenues	51	96	234	235	110	116	124
Cost of revenue	20	34	119	146	33	33	32
Gross profit	31	62	116	90	76	83	91
Realized investment gains (losses)	–	–	–	–	–	4	–
Research and development	49	56	92	138	81	46	33
Selling, general and administrative	64	82	213	224	119	80	79
Total operating expenses	113	137	313	836	220	132	113
Operating income	(82)	(75)	(197)	(746)	(144)	(49)	(22)
Interest expense	0	0	11	25	31	7	0
Interest and investment income	–	1	0	2	11	5	4
Other non-operating income (expense)	0	1	0	5	7	13	21
Income before taxes	(81)	(75)	(208)	(766)	(167)	(43)	(1)
Income tax expense	0	0	(39)	(2)	0	0	0
Net income from continuing operations	(81)	(75)	(169)	(764)	(167)	(43)	(1)
Net income	(81)	(75)	(170)	(720)	(179)	(43)	(7)
Net income to common shareholders	(81)	(75)	(171)	(769)	(185)	(60)	(26)