Complete Filing Data
Minerva Neurosciences, Inc. reported Net Income Loss of -$293.42 million for FY2025.
All values from 10-K, 20-F, and 10-Q filings on SEC EDGAR, organized by financial statement. Scroll each table horizontally for the full history. Blank cells mean Minerva Neurosciences, Inc. did not report that metric for that period in XBRL — often because accounting standards changed which tag a company files under (for example, most companies moved revenue to the ASC-606 tag in 2018), so a metric may continue in a different row. Rows marked * merge those successor tags into one continuous series, preferring the audited value from the newest-standard tag where periods overlap.
Income Statement
Annual (10-K / 20-F)
| Metric \ Fiscal Year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | FY2014 | FY2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Income * | -$293.4M | $1.4M | -$30.0M | -$32.1M | -$49.9M | $1.9M | -$72.2M | -$50.2M | -$31.5M | -$31.0M | -$27.1M | -$56.9M | |
| Operating Income Loss | -$15.1M | -$21.8M | -$23.1M | -$25.2M | -$45.4M | $1.8M | -$75.9M | -$51.7M | -$41.2M | -$30.2M | -$26.1M | -$54.9M | -$3.2M |
| Research And Development Expense | $5.8M | $11.9M | $12.7M | $14.6M | $32.0M | $22.0M | $58.1M | $34.9M | $30.3M | $20.4M | $18.5M | $42.9M | $708.5K |
| Operating Expenses | $15.1M | $21.8M | $23.1M | $25.2M | $45.4M | $39.3M | $75.9M | $51.7M | $41.2M | $30.2M | $26.1M | $54.9M | $3.2M |
| General And Administrative Expense | $9.3M | $9.9M | $10.4M | $10.6M | $13.3M | $17.3M | $17.7M | $16.8M | $10.9M | $9.8M | $7.6M | $12.0M | $2.5M |
| Interest Income Expense Nonoperating Net | -$110.4K | -$614.3K | -$1.0M | -$1.1M | -$2.0M | ||||||||
| Non Cash Interest Expense For The Sale Of Future Royalties | $4.6M | $8.3M | $7.4M | $6.3M | |||||||||
| Non Cash Interest Expense For Sale Of Future Royalties | $4.6M | $8.3M | $7.4M | $6.3M | |||||||||
| Deferred Income Tax Liabilities Net | $1.8M | $1.8M | $4.1M | $4.1M | |||||||||
| Revenues | $41.2M |
Quarterly (10-Q, single quarters)
| Metric \ Quarter | 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 | Q4 2020 | Q3 2020 | Q2 2020 | Q1 2020 | Q4 2019 | Q3 2019 | Q2 2019 | Q1 2019 | Q4 2018 | Q3 2018 | Q2 2018 | Q1 2018 | Q4 2017 | Q3 2017 | Q2 2017 | Q1 2017 | Q4 2016 | Q3 2016 | Q2 2016 | Q1 2016 | Q4 2015 | Q3 2015 | Q2 2015 | Q1 2015 | Q4 2014 | Q3 2014 | Q2 2014 | Q1 2014 | Q4 2013 | Q3 2013 | Q2 2013 | Q1 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Income * | -$2.7M | -$3.3M | -$3.8M | $22.5M | -$8.2M | -$8.6M | -$7.8M | -$6.2M | -$7.0M | -$6.9M | -$8.7M | -$9.8M | -$9.2M | -$10.6M | -$8.8M | -$7.3M | -$8.1M | $29.5M | -$12.2M | -$29.9M | -$14.0M | -$12.5M | -$15.8M | -$13.2M | -$12.0M | -$12.5M | -$12.4M | $162.0K | -$11.3M | -$9.8M | -$10.6M | -$9.4M | -$8.4M | -$5.2M | -$8.0M | -$8.4M | -$5.9M | -$6.6M | -$6.1M | -$7.4M | -$27.2M | -$19.4M | -$2.9M | ||||
| Operating Income Loss | -$2.8M | -$3.4M | -$3.9M | -$4.4M | -$6.3M | -$6.7M | -$6.1M | -$4.5M | -$5.3M | -$5.2M | -$7.0M | -$8.0M | -$7.5M | -$9.0M | -$7.5M | -$7.3M | -$8.1M | $29.5M | -$12.3M | -$32.4M | -$14.3M | -$12.9M | -$16.3M | -$13.6M | -$12.4M | -$12.9M | -$12.7M | -$9.5M | -$11.4M | -$9.7M | -$10.5M | -$9.2M | -$8.2M | -$5.0M | -$7.8M | -$8.2M | -$5.7M | -$6.3M | -$5.9M | -$7.4M | -$27.2M | -$17.7M | -$2.6M | -$2.0M | -$482.0K | -$379.0K | -$271.0K |
| Research And Development Expense | $925.4K | $1.3M | $1.4M | $1.9M | $3.9M | $4.2M | $3.4M | $1.9M | $2.7M | $2.4M | $4.1M | $5.0M | $4.5M | $5.5M | $3.3M | $4.6M | $5.8M | $8.1M | $9.7M | $8.3M | $11.6M | $8.4M | $9.1M | $8.4M | $9.0M | $7.1M | $7.6M | $5.9M | $2.7M | $5.4M | $3.8M | $4.5M | $4.0M | $24.7M | $14.6M | $585.9K | $190.7K | $249.8K | |||||||||
| Operating Expenses | $2.8M | $3.4M | $3.9M | $4.4M | $6.3M | $6.7M | $6.1M | $4.5M | $5.3M | $5.2M | $7.0M | $8.0M | $7.5M | $9.0M | $7.5M | $8.1M | $11.7M | $12.3M | $14.3M | $12.9M | $16.3M | $12.4M | $12.9M | $12.7M | $11.4M | $9.7M | $10.5M | $8.2M | $5.0M | $7.8M | $5.7M | $6.3M | $5.9M | $27.2M | $17.6M | $2.6M | $482.5K | $378.8K | |||||||||
| General And Administrative Expense | $1.9M | $2.1M | $2.5M | $2.5M | $2.4M | $2.5M | $2.6M | $2.6M | $2.7M | $2.8M | $2.8M | $3.0M | $3.0M | $3.4M | $4.2M | $3.5M | $5.9M | $4.2M | $4.6M | $4.6M | $4.7M | $4.1M | $3.9M | $4.3M | $2.5M | $2.6M | $2.9M | $2.4M | $2.3M | $2.4M | $1.9M | $1.8M | $1.9M | $2.4M | $3.1M | $2.0M | $291.8K | $128.9K | |||||||||
| Interest Income Expense Nonoperating Net | -$4.0K | -$35.8K | -$70.6K | -$137.9K | -$170.1K | -$201.5K | -$258.8K | -$268.3K | -$270.4K | -$270.0K | -$275.7K | -$230.7K | -$14.8K | -$1.7M | |||||||||||||||||||||||||||||||||
| Non Cash Interest Expense For The Sale Of Future Royalties | $0.00 | $2.3M | $2.3M | $2.1M | $2.0M | $2.0M | $1.9M | $1.8M | $1.8M | $1.7M | $1.6M | $1.3M | |||||||||||||||||||||||||||||||||||
| Non Cash Interest Expense For Sale Of Future Royalties | $0.00 | $2.3M | $2.0M | $1.8M | $1.3M | ||||||||||||||||||||||||||||||||||||||||||
| Deferred Income Tax Liabilities Net | $1.8M | $1.8M | $1.8M | $1.8M | $1.8M | $1.8M | $4.1M | $4.1M | $4.1M | $4.1M | |||||||||||||||||||||||||||||||||||||
| Revenues | $41.2M |
Balance Sheet
Annual (10-K / 20-F)
| Metric \ Fiscal Year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | FY2014 | FY2013 | FY2012 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Stockholders Equity | -$140.7M | -$25.7M | -$28.5M | -$20.0M | $8.0M | $52.7M | $27.8M | $90.3M | $131.6M | $106.0M | $55.3M | $51.5M | $20.2M | $19.0K |
| Cash And Cash Equivalents At Carrying Value | $82.3M | $21.4M | $40.9M | $36.1M | $60.8M | $25.4M | $21.4M | $50.2M | $26.1M | $83.0M | $14.3M | $18.5M | $1.8M | $200.3K |
| Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations | $82.4M | $21.5M | $41.0M | $36.2M | $60.9M | $25.5M | $21.5M | $50.3M | $26.1M | $83.1M | ||||
| Retained Earnings Accumulated Deficit | -$688.8M | -$395.4M | -$396.8M | -$366.8M | -$334.7M | -$284.8M | -$286.7M | -$214.6M | -$164.4M | -$132.9M | -$101.8M | -$74.7M | -$17.8M | |
| Liabilities Current | $2.3M | $2.8M | $3.3M | $1.4M | $2.8M | $3.2M | $6.6M | $3.6M | $6.8M | $9.7M | $5.3M | $3.5M | $1.4M | |
| Liabilities And Stockholders Equity | $98.0M | $37.1M | $56.9M | $55.1M | $77.1M | $57.6M | $77.5M | $139.1M | $183.7M | $132.9M | $82.6M | $68.5M | $29.2M | |
| Liabilities | $233.8M | $62.8M | $85.4M | $75.1M | $69.1M | $5.0M | $49.7M | $48.9M | $52.1M | $27.0M | $27.3M | $17.0M | $9.0M | |
| Goodwill | $14.9M | $14.9M | $14.9M | $14.9M | $14.9M | $14.9M | $14.9M | $14.9M | $14.9M | $14.9M | $14.9M | $14.9M | $7.9M | |
| Common Stock Value | $4.3K | $699.00 | $699.00 | $534.00 | $534.00 | $4.3K | $3.9K | $3.9K | $3.9K | $3.5K | $2.5K | $1.8K | $611.00 | |
| Assets Current | $83.1M | $22.3M | $42.0M | $40.2M | $62.2M | $27.4M | $47.1M | $90.0M | $129.5M | $83.9M | $33.5M | $19.3M | $1.8M | |
| Assets | $98.0M | $37.1M | $56.9M | $55.1M | $77.1M | $57.6M | $77.5M | $139.1M | $183.7M | $132.9M | $82.6M | $68.5M | $29.2M | |
| Additional Paid In Capital Common Stock | $548.0M | $369.7M | $368.4M | $346.8M | $342.7M | $337.5M | $314.5M | $304.8M | $296.0M | $238.8M | $157.1M | $126.2M | $38.0M | |
| Accounts Payable Current | $639.7K | $1.6M | $1.8M | $969.7K | $1.9M | $995.6K | $2.3M | $1.8M | $1.4M | $1.5M | $1.4M | $641.8K | $523.0K | |
| Accounts Payable And Other Accrued Liabilities Current | $1.7M | $1.2M | $1.5M | $407.9K | $965.7K | $2.1M | $4.1M | $1.8M | $1.4M | $815.8K | $2.5M | $1.6M | ||
| Restricted Cash Current | $100.0K | $100.0K | $100.0K | $100.0K | $100.0K | $100.0K | $100.0K | $100.0K | $80.0K | |||||
| Property Plant And Equipment Net | $0.00 | $5.4K | $10.9K | $16.3K | $16.0K | $33.5K | $50.9K | $9.6K | $26.2K | $43.4K | $3.2K | |||
| Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents | $82.4M | $21.5M | $41.0M | $36.2M | $60.9M | $25.5M | $21.5M | $50.3M | $26.1M | |||||
| Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect | $60.9M | -$19.6M | $4.8M | -$24.7M | $35.4M | $3.9M | -$28.8M | $24.2M | -$56.9M | |||||
| Intangible Assets Net Excluding Goodwill | $15.2M | $15.2M | $34.2M | $34.2M | $34.2M | $34.2M | $34.2M | $19.0M | ||||||
| Amortization Of Debt Discount Premium | $38.0K | $206.6K | $347.8K | $377.5K | $2.0M | $36.2K | ||||||||
| Marketable Securities Current | $24.4M | $37.8M | $102.1M | $17.9M | ||||||||||
| Restricted Cash And Cash Equivalents At Carrying Value | $80.0K | $80.0K | $35.0K | |||||||||||
| Deferred Tax Liabilities Noncurrent | $13.4M | $13.4M | $13.4M | $7.6M | ||||||||||
| Liability Related To Sale Of Future Royalties | $60.0M | $60.0M | $82.0M | $73.7M | $66.3M | |||||||||
| Other Assets Noncurrent | $14.8K | $14.8K | $14.8K | $14.8K | ||||||||||
| Notes Payable Current | $4.0M | $4.9M | $1.4M | |||||||||||
| Repayments Of Senior Debt | $4.0M | $4.9M | $1.6M | $1.9M |
Quarterly (10-Q, single quarters)
| Metric \ Quarter | 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 | Q3 2020 | Q2 2020 | Q1 2020 | Q3 2019 | Q2 2019 | Q1 2019 | Q3 2018 | Q2 2018 | Q1 2018 | Q4 2017 | Q3 2017 | Q2 2017 | Q1 2017 | Q4 2016 | Q3 2016 | Q2 2016 | Q1 2016 | Q3 2015 | Q2 2015 | Q1 2015 | Q3 2014 | Q2 2014 | Q1 2014 | Q3 2013 | Q2 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Stockholders Equity | -$34.6M | -$32.1M | -$29.1M | -$21.7M | -$44.5M | -$36.6M | -$20.0M | -$12.5M | -$26.6M | -$14.2M | -$8.4M | -$736.1K | $28.1M | $36.2M | $45.4M | $58.0M | $56.9M | $18.6M | $55.5M | $67.3M | $77.4M | $101.4M | $110.7M | $121.3M | $130.2M | $98.0M | $106.3M | $113.1M | $120.6M | $66.6M | $63.1M | $68.4M | $74.4M | $56.7M | $29.2M | |||||
| Cash And Cash Equivalents At Carrying Value | $12.3M | $15.2M | $17.3M | $26.5M | $30.9M | $34.8M | $46.9M | $51.8M | $36.0M | $40.2M | $49.8M | $54.9M | $65.6M | $74.2M | $80.1M | $32.5M | $32.3M | $30.0M | $37.9M | $27.8M | $30.6M | $87.3M | $68.7M | $45.1M | $36.3M | $50.2M | $68.9M | $91.9M | $88.7M | $34.8M | $16.8M | $21.7M | $52.2M | $23.6M | $480.0K | $2.1M | $1.1M | $1.5M | ||
| Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations | $12.4M | $15.3M | $17.4M | $26.6M | $31.0M | $34.9M | $47.0M | $51.9M | $36.1M | $40.3M | $49.9M | $55.0M | $65.7M | $74.3M | $80.2M | $32.6M | $32.4M | $30.1M | $38.0M | $27.9M | $30.7M | $87.4M | $68.8M | $45.2M | $36.3M | $50.2M | ||||||||||||||
| Retained Earnings Accumulated Deficit | -$405.1M | -$402.4M | -$399.1M | -$391.1M | -$413.6M | -$405.4M | -$387.8M | -$380.0M | -$373.8M | -$360.1M | -$353.2M | -$344.5M | -$313.4M | -$304.2M | -$344.5M | -$277.5M | -$304.2M | -$298.9M | -$256.8M | -$242.9M | -$230.4M | -$201.3M | -$189.3M | -$176.8M | -$164.5M | -$153.3M | -$143.5M | -$123.5M | -$115.0M | -$109.8M | -$93.4M | -$87.4M | -$80.8M | -$67.3M | -$40.1M | |||||
| Liabilities Current | $2.7M | $2.5M | $1.9M | $4.5M | $4.2M | $2.8M | $3.3M | $1.9M | $2.5M | $2.2M | $3.4M | $3.2M | $3.1M | $4.4M | $3.4M | $5.4M | $7.4M | $7.1M | $9.9M | $7.6M | $6.9M | $3.9M | $5.0M | $7.9M | $8.7M | $14.6M | $13.0M | $10.1M | $6.2M | $7.0M | $3.2M | $3.8M | $4.4M | $3.2M | $10.1M | |||||
| Liabilities And Stockholders Equity | $28.1M | $30.4M | $32.8M | $42.8M | $46.3M | $50.5M | $63.1M | $67.1M | $51.6M | $59.8M | $65.0M | $70.6M | $97.6M | $105.3M | $111.8M | $65.2M | $66.2M | $68.8M | $110.8M | $120.3M | $129.8M | $150.5M | $160.9M | $174.5M | $193.5M | $127.4M | $135.3M | $141.7M | $146.5M | $94.4M | $89.3M | $94.3M | $101.8M | $73.3M | $53.0M | |||||
| Liabilities | $62.7M | $62.5M | $61.9M | $64.5M | $90.8M | $87.1M | $83.2M | $79.6M | $78.2M | $74.0M | $73.3M | $71.4M | $69.5M | $69.2M | $66.5M | $7.2M | $9.2M | $50.2M | $55.3M | $53.0M | $52.4M | $49.1M | $50.3M | $53.2M | $63.3M | $29.3M | $29.0M | $28.6M | $25.9M | $27.8M | $26.3M | $25.9M | $27.4M | $16.6M | $23.7M | |||||
| Goodwill | $14.9M | $14.9M | $14.9M | $14.9M | $14.9M | $14.9M | $14.9M | $14.9M | $14.9M | $14.9M | $14.9M | $14.9M | $14.9M | $14.9M | $14.9M | $14.9M | $14.9M | $14.9M | $14.9M | $14.9M | $14.9M | $14.9M | $14.9M | $14.9M | $14.9M | $14.9M | $14.9M | $14.9M | $14.9M | $14.9M | $14.9M | $14.9M | $14.9M | $14.9M | $15.1M | |||||
| Common Stock Value | $699.00 | $699.00 | $699.00 | $699.00 | $699.00 | $699.00 | $699.00 | $699.00 | $534.00 | $534.00 | $534.00 | $4.3K | $4.3K | $4.3K | $4.3K | $4.3K | $4.1K | $3.9K | $3.9K | $3.9K | $3.9K | $3.9K | $3.9K | $3.9K | $3.9K | $3.7K | $3.7K | $3.5K | $3.5K | $2.8K | $2.5K | $2.5K | $2.5K | $1.8K | $852.00 | |||||
| Assets Current | $13.0M | $15.5M | $17.9M | $27.9M | $31.4M | $35.6M | $48.2M | $52.2M | $36.7M | $44.8M | $50.0M | $55.7M | $67.4M | $75.2M | $81.7M | $35.0M | $35.9M | $38.5M | $61.4M | $70.8M | $80.3M | $101.4M | $111.8M | $125.3M | $134.1M | $78.1M | $86.2M | $92.6M | $97.4M | $45.3M | $38.8M | $35.8M | $52.7M | $24.2M | $513.2K | |||||
| Assets | $28.1M | $30.4M | $32.8M | $42.8M | $46.3M | $50.5M | $63.1M | $67.1M | $51.6M | $59.8M | $65.0M | $70.6M | $97.6M | $105.3M | $111.8M | $65.2M | $66.2M | $68.8M | $110.8M | $120.3M | $129.8M | $150.5M | $160.9M | $174.5M | $193.5M | $127.4M | $135.3M | $141.7M | $146.5M | $94.4M | $89.3M | $94.3M | $101.8M | $73.3M | $53.0M | |||||
| Additional Paid In Capital Common Stock | $370.6M | $370.3M | $370.0M | $369.4M | $369.1M | $368.8M | $367.7M | $367.5M | $347.2M | $345.8M | $344.8M | $343.7M | $341.5M | $340.4M | $339.0M | $335.5M | $326.3M | $317.5M | $312.3M | $310.1M | $307.8M | $302.7M | $300.0M | $298.1M | $294.7M | $251.3M | $249.8M | $236.6M | $235.6M | $176.5M | $156.4M | $155.8M | $155.3M | $124.0M | $69.4M | |||||
| Accounts Payable Current | $944.5K | $896.8K | $639.9K | $553.2K | $828.3K | $1.4M | $1.4M | $298.3K | $961.0K | $532.9K | $1.5M | $1.6M | $1.2M | $1.6M | $1.1M | $701.6K | $3.1M | $3.0M | $5.3M | $2.9M | $3.0M | $874.7K | $1.3M | $2.8M | $1.5M | $1.4M | $3.3M | $833.2K | $876.5K | $1.2M | $734.8K | $564.3K | $1.0M | $942.2K | $4.3M | |||||
| Accounts Payable And Other Accrued Liabilities Current | $1.7M | $1.6M | $1.3M | $3.9M | $3.4M | $1.4M | $2.0M | $1.6M | $1.5M | $1.7M | $1.9M | $1.7M | $1.9M | $2.8M | $2.2M | $4.5M | $4.1M | $3.9M | $4.4M | $4.5M | $3.7M | $3.0M | $2.3M | $1.8M | $2.0M | $1.4M | $1.7M | $980.9K | $1.5M | $3.1M | $2.2M | $1.1M | ||||||||
| Restricted Cash Current | $100.0K | $100.0K | $100.0K | $100.0K | $100.0K | $100.0K | $100.0K | $100.0K | $100.0K | $100.0K | $100.0K | $100.0K | $100.0K | $100.0K | $100.0K | $100.0K | $100.0K | $100.0K | $100.0K | $100.0K | $100.0K | $100.0K | $100.0K | $100.0K | ||||||||||||||||
| Property Plant And Equipment Net | $1.4K | $2.7K | $4.1K | $6.8K | $8.2K | $9.5K | $12.2K | $13.6K | $15.0K | $2.9K | $7.3K | $11.6K | $20.4K | $24.7K | $29.1K | $37.8K | $42.2K | $46.6K | $330.00 | $3.0K | $6.3K | $13.2K | $17.5K | $21.9K | $30.5K | $34.8K | $33.7K | $35.6K | $27.2K | |||||||||||
| Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents | $12.4M | $15.3M | $17.4M | $26.6M | $31.0M | $34.9M | $47.0M | $51.9M | $36.1M | $40.3M | $49.9M | $55.0M | $65.7M | $74.3M | $80.2M | $32.6M | $32.4M | $30.1M | $38.0M | $27.9M | $30.7M | $87.4M | $68.8M | $45.2M | $36.3M | $50.3M | $69.0M | $83.1M | ||||||||||||
| Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect | -$4.1M | -$6.1M | -$115.4K | -$5.8M | $54.8M | $8.6M | -$19.6M | $19.1M | ||||||||||||||||||||||||||||||||
| Intangible Assets Net Excluding Goodwill | $15.2M | $15.2M | $15.2M | $15.2M | $15.2M | $15.2M | $34.2M | $34.2M | $34.2M | $34.2M | $34.2M | $34.2M | $34.2M | $34.2M | $34.2M | $34.2M | $34.2M | $34.2M | $34.2M | $34.2M | $34.2M | $34.2M | $34.2M | |||||||||||||||||
| Amortization Of Debt Discount Premium | $24.3K | $67.0K | $94.1K | $67.1K | $274.3K | |||||||||||||||||||||||||||||||||||
| Marketable Securities Current | $3.0M | $7.5M | $22.0M | $41.4M | $48.6M | $10.3M | $39.8M | $75.9M | $96.7M | $27.4M | $16.5M | $8.4M | $9.8M | $20.7M | $13.7M | |||||||||||||||||||||||||
| Restricted Cash And Cash Equivalents At Carrying Value | $100.0K | $100.0K | $100.0K | $80.0K | $80.0K | $80.0K | $80.0K | $80.0K | $80.0K | $80.0K | $80.0K | $80.0K | $40.0K | |||||||||||||||||||||||||||
| Deferred Tax Liabilities Noncurrent | $4.1M | $4.1M | $4.1M | $13.4M | $13.4M | $13.4M | $13.4M | $13.4M | $13.4M | $13.4M | $13.4M | $13.4M | $13.4M | $13.7M | ||||||||||||||||||||||||||
| Liability Related To Sale Of Future Royalties | $60.0M | $60.0M | $60.0M | $60.0M | $86.6M | $84.3M | $79.8M | $77.7M | $75.7M | $71.8M | $69.9M | $68.1M | ||||||||||||||||||||||||||||
| Other Assets Noncurrent | $14.8K | $14.8K | $14.8K | $14.8K | $14.8K | $14.8K | $14.8K | $14.8K | $14.8K | $14.8K | $14.8K | |||||||||||||||||||||||||||||
| Notes Payable Current | $1.4M | $2.7M | $5.2M | $5.1M | $5.0M | $4.8M | $3.9M | $2.6M | $251.6K | $1.1M | $158.3K | |||||||||||||||||||||||||||||
| Repayments Of Senior Debt | $1.3M | $1.2M |
Cash Flow Statement
Annual (10-K / 20-F)
| Metric \ Fiscal Year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | FY2014 | FY2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Financing Cash Flow * | $74.5M | $19.6M | -$5.00 | $60.0M | $13.2M | $525.0K | -$3.3M | $47.2M | $76.6M | $38.3M | $51.6M | $3.8M | |
| Investing Cash Flow * | $0.00 | $0.00 | $0.00 | -$16.3K | $24.5M | $14.1M | $69.5M | -$107.2M | $17.8M | -$18.3M | $1.1M | -$3.2K | |
| Operating Cash Flow * | -$13.5M | -$19.6M | -$14.8M | -$24.6M | -$24.6M | -$33.8M | -$43.4M | -$41.9M | $3.1M | -$25.7M | -$24.3M | -$36.0M | -$2.2M |
| Increase Decrease In Accrued Liabilities | $317.4K | -$306.1K | $1.1M | -$557.8K | -$1.1M | -$2.1M | $2.3M | $369.7K | $624.0K | -$1.7M | $879.4K | $112.3K | -$143.5K |
| Share Based Compensation | $1.3M | $1.3M | $2.0M | $4.1M | $5.2M | $9.7M | $9.2M | $8.2M | $5.0M | $3.6M | $2.2M | $18.0M | $655.7K |
| Increase Decrease In Accounts Payable | -$1.1M | -$197.5K | $835.7K | -$883.5K | $857.6K | -$1.3M | $517.3K | $364.0K | -$32.7K | $107.8K | $718.8K | $368.7K | $523.0K |
| Increase Decrease In Prepaid Expense Other Current Assets | -$109.2K | -$183.0K | $141.7K | -$498.2K | -$636.9K | $800.8K | -$723.3K | $621.9K | $307.0K | -$372.7K | $400.0K | $713.2K | |
| Depreciation Depletion And Amortization | $16.0K | $17.5K | $17.5K | $11.1K | $16.5K | $17.3K | $33.9K | ||||||
| Proceeds From Issuance Of Private Placement | $80.0M | $20.0M | $1,000.0K | $31.0M | $23.7M | $1.9M | |||||||
| Payments To Acquire Marketable Securities | $3.9M | $61.1M | $40.7M | $134.5M | $23.3M | ||||||||
| Payments Of Stock Issuance Costs | $5.4M | $396.3K | $455.7K | $2.9M | $3.8M | $3.2M | |||||||
| Proceeds From Stock Options Exercised | $1.1M | $525.0K | $655.9K | $1.1M | $76.7K | ||||||||
| Net Cash Provided By Used In Continuing Operations | -$56.9M | $68.7M | -$4.3M | $16.7M | $1.6M | ||||||||
| Increase Decrease In Operating Lease Liabilities Current | -$111.2K | -$61.7K | $37.4K | ||||||||||
| Proceeds From Sale And Maturity Of Held To Maturity Securities | $28.4M | $75.2M | $110.2M | $27.4M | |||||||||
| Increase Decrease In Other Noncurrent Liabilities | -$888.00 | $29.9K | -$7.7K | $7.7K |
Quarterly (10-Q, single quarters)
| Metric \ Quarter | Q1 2025 | Q1 2024 | Q1 2023 | Q1 2022 | Q1 2021 | Q1 2020 | Q1 2019 | Q1 2018 | Q1 2017 | Q1 2016 | Q1 2015 | Q1 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Financing Cash Flow * | $0.00 | $0.00 | $0.00 | $60.0M | $797.6K | $525.0K | -$1.3M | $8.4M | $18.5M | $38.6M | $394.6K | |
| Investing Cash Flow * | $0.00 | $0.00 | $0.00 | $17.0M | -$10.6M | $31.3M | -$16.5M | $8.0M | -$5.0K | $1.2M | ||
| Operating Cash Flow * | -$4.1M | -$6.1M | -$115.4K | -$5.8M | -$5.2M | -$9.2M | -$9.6M | -$10.9M | -$6.0M | -$6.0M | -$4.9M | -$1.2M |
| Increase Decrease In Accrued Liabilities | $78.2K | -$139.9K | $1.1M | $695.8K | $111.2K | -$202.9K | $1.9M | $952.7K | $857.6K | $577.2K | $26.2K | -$60.4K |
| Share Based Compensation | $297.2K | $438.8K | $376.5K | $1.1M | $1.5M | $2.2M | $2.5M | $2.1M | $1.3M | $790.2K | $336.4K | $302.1K |
| Increase Decrease In Accounts Payable | -$967.9K | -$369.8K | -$8.7K | -$267.0K | $134.0K | $686.1K | $1.2M | $1.4M | $1.8M | -$136.6K | $254.5K | $1.2M |
| Increase Decrease In Prepaid Expense Other Current Assets | -$272.1K | -$287.3K | -$252.1K | -$695.9K | -$533.6K | -$330.6K | -$851.7K | $2.9M | -$26.5K | -$566.2K | ||
| Depreciation Depletion And Amortization | $4.4K | $4.4K | $4.4K | $3.3K | $4.3K | $9.7K | $270.00 | |||||
| Proceeds From Issuance Of Private Placement | $1,000.0K | $31.0M | ||||||||||
| Payments To Acquire Marketable Securities | $3.9M | $19.6M | $7.9M | $16.5M | ||||||||
| Payments Of Stock Issuance Costs | $105.4K | |||||||||||
| Proceeds From Stock Options Exercised | $797.6K | $525.0K | $281.8K | |||||||||
| Net Cash Provided By Used In Continuing Operations | -$14.1M | $20.5M | $33.7M | $322.9K | ||||||||
| Increase Decrease In Operating Lease Liabilities Current | -$46.9K | $5.9K | $20.6K | |||||||||
| Proceeds From Sale And Maturity Of Held To Maturity Securities | $20.9M | $9.0M | $39.3M | |||||||||
| Increase Decrease In Other Noncurrent Liabilities | $395.00 | -$2.6K |
Per-Share & Share Counts
Annual (10-K / 20-F)
| Metric \ Fiscal Year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | FY2014 | FY2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Diluted EPS * | -$34.67 | $0.19 | -$4.61 | -$6.01 | -$9.35 | $0.05 | -$1.85 | -$1.29 | -$0.83 | -$0.99 | -$1.16 | -$4.47 | -$0.78 |
| Common Stock Shares Authorized | 250.0M | 125.0M | 125.0M | 125.0M | 125.0M | 125.0M | 125.0M | 125.0M | 125.0M | 125.0M | 125.0M | 125.0M | 125.0M |
| Common Stock Par Or Stated Value Per Share | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Common Stock Shares Outstanding | 43.3M | 7.0M | 7.0M | 5.3M | 5.3M | 42.7M | 39.1M | 38.9M | 38.7M | 35.0M | 24.7M | 18.4M | 6.1M |
| Common Stock Shares Issued | 43.3M | 7.0M | 7.0M | 5.3M | 5.3M | 42.7M | 39.1M | 38.9M | 38.7M | 35.0M | 24.7M | 18.4M | 6.1M |
| Preferred Stock Shares Authorized | 100.0M | 100.0M | 100.0M | 100.0M | 100.0M | 100.0M | 100.0M | 100.0M | 100.0M | 100.0M | 100.0M | 100.0M | |
| Preferred Stock Par Or Stated Value Per Share | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Preferred Stock Shares Outstanding | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Preferred Stock Shares Issued | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Weighted Average Number Of Share Outstanding Basic And Diluted | 39.0M | 38.8M | 37.9M | 31.5M | 23.4M | 12.7M | 4.2M | ||||||
| Weighted Average Number Of Shares Outstanding Basic | 8.5M | 7.6M | 6.5M | 5.3M | 5.3M | 40.8M | 39.0M | ||||||
| Weighted Average Number Of Diluted Shares Outstanding | 8.5M | 7.6M | 6.5M | 5.3M | 5.3M | 40.9M | 39.0M | ||||||
| Earnings Per Share Basic | $-34.67 | $0.19 | $-4.61 | $-6.01 | $-9.35 | $0.05 | $-1.85 |
Quarterly (10-Q, single quarters)
| Metric \ Quarter | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q3 2023 | Q2 2023 | Q1 2023 | Q3 2022 | Q2 2022 | Q1 2022 | Q3 2021 | Q2 2021 | Q1 2021 | Q3 2020 | Q2 2020 | Q1 2020 | Q3 2019 | Q2 2019 | Q1 2019 | Q3 2018 | Q2 2018 | Q1 2018 | Q3 2017 | Q2 2017 | Q1 2017 | Q3 2016 | Q2 2016 | Q1 2016 | Q3 2015 | Q2 2015 | Q1 2015 | Q3 2014 | Q2 2014 | Q1 2014 | Q3 2013 | Q2 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Diluted EPS * | -$0.36 | -$0.43 | -$0.50 | $2.97 | -$1.09 | -$1.13 | -$1.03 | -$1.12 | -$1.31 | -$1.29 | -$1.63 | -$1.83 | -$1.72 | -$0.25 | -$0.21 | -$0.19 | $0.73 | -$0.31 | -$0.36 | -$0.32 | -$0.41 | -$0.31 | -$0.32 | -$0.32 | -$0.28 | -$0.27 | -$0.30 | -$0.24 | -$0.18 | -$0.29 | -$0.24 | -$0.27 | -$0.31 | -$1.53 | -$2.55 | -$0.43 | -$0.12 | -$0.10 | |
| Common Stock Shares Authorized | 125.0M | 125.0M | 125.0M | 125.0M | 125.0M | 125.0M | 125.0M | 125.0M | 125.0M | 125.0M | 125.0M | 125.0M | 125.0M | 125.0M | 125.0M | 125.0M | 125.0M | 125.0M | 125.0M | 125.0M | 125.0M | 125.0M | 125.0M | 125.0M | 125.0M | 125.0M | 125.0M | 125.0M | 125.0M | 125.0M | 125.0M | 125.0M | 125.0M | 125.0M | |||||
| Common Stock Par Or Stated Value Per Share | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||||
| Common Stock Shares Outstanding | 7.0M | 7.0M | 7.0M | 7.0M | 7.0M | 7.0M | 7.0M | 7.0M | 5.3M | 5.3M | 5.3M | 42.7M | 42.7M | 42.7M | 42.7M | 42.7M | 40.6M | 39.2M | 39.0M | 39.0M | 39.0M | 38.8M | 38.7M | 38.7M | 38.7M | 36.8M | 36.7M | 34.8M | 34.8M | 27.9M | 24.7M | 24.7M | 24.7M | 18.4M | 8.5M | ||||
| Common Stock Shares Issued | 7.0M | 7.0M | 7.0M | 7.0M | 7.0M | 7.0M | 7.0M | 7.0M | 5.3M | 5.3M | 5.3M | 42.7M | 42.7M | 42.7M | 42.7M | 42.7M | 40.6M | 39.2M | 39.0M | 39.0M | 39.0M | 38.8M | 38.7M | 38.7M | 38.7M | 36.8M | 36.7M | 34.8M | 34.8M | 27.9M | 24.7M | 24.7M | 24.7M | 18.4M | 8.5M | ||||
| Preferred Stock Shares Authorized | 100.0M | 100.0M | 100.0M | 100.0M | 100.0M | 100.0M | 100.0M | 100.0M | 100.0M | 100.0M | 100.0M | 100.0M | 100.0M | 100.0M | 100.0M | 100.0M | 100.0M | 100.0M | 100.0M | 100.0M | 100.0M | 100.0M | 100.0M | 100.0M | 100.0M | 100.0M | 100.0M | 100.0M | 100.0M | 100.0M | 100.0M | 100.0M | 100.0M | 100.0M | 100.0M | ||||
| Preferred Stock Par Or Stated Value Per Share | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||||
| Preferred Stock Shares Outstanding | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||
| Preferred Stock Shares Issued | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||
| Weighted Average Number Of Share Outstanding Basic And Diluted | 5.3M | 42.7M | 5.3M | 42.7M | 39.2M | 39.0M | 39.0M | 39.0M | 38.8M | 38.7M | 38.7M | 40.9M | 36.7M | 35.4M | 34.8M | 29.1M | 27.2M | 24.7M | 24.7M | 19.4M | 17.8M | 7.6M | 6.9M | 4.1M | 3.9M | ||||||||||||||
| Weighted Average Number Of Shares Outstanding Basic | 7.6M | 7.6M | 7.6M | 7.6M | 7.6M | 7.6M | 7.6M | 5.5M | 5.3M | 5.3M | 5.3M | 5.3M | 5.3M | 42.7M | 41.9M | 39.5M | 39.0M | 39.0M | |||||||||||||||||||||
| Weighted Average Number Of Diluted Shares Outstanding | 7.6M | 7.6M | 7.6M | 7.6M | 7.6M | 7.6M | 7.6M | 5.5M | 5.3M | 5.3M | 5.3M | 5.3M | 5.3M | 42.7M | 41.9M | 40.3M | 39.0M | 39.0M | |||||||||||||||||||||
| Earnings Per Share Basic | $-0.36 | $-0.43 | $-0.50 | $2.97 | $-1.09 | $-1.13 | $-1.03 | $-1.12 | $-1.31 | $-1.29 | $-1.63 | $-1.83 | $-1.72 | $-0.25 | $-0.19 | $0.75 | $-0.36 | $-0.32 |
Other Metrics
Annual (10-K / 20-F)
| Metric \ Fiscal Year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | FY2014 | FY2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Foreign Currency Transaction Gain Loss Before Tax | -$56.6K | -$1.9K | -$40.2K | -$27.7K | -$32.8K | -$67.2K | -$28.5K | -$4.8K | -$56.9K | -$23.4K | -$15.9K | $18.7K | -$29.0K |
| Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value | $1.3M | $1.3M | $2.0M | $4.1M | $5.2M | $9.7M | $9.2M | $8.2M | $5.0M | $3.6M | $2.2M | $7.4M | $423.2K |
| Investment Income Interest | $948.1K | $1.3M | $1.4M | $556.9K | $16.5K | $161.2K | $1.5M | $1.7M | $941.8K | $198.5K | $96.9K | ||
| Prepaid Expense Current | $697.7K | $806.9K | $989.9K | $848.1K | $1.3M | $2.0M | $1.2M | $1.9M | $1.3M | $803.2K | $1.2M | $757.0K | $852.00 |
| Investment Income Net Amortization Of Discount And Premium | $86.8K | $764.1K | $119.6K | $185.5K | -$102.6K | -$247.3K | |||||||
| Stock Issued During Period Value Stock Options Exercised | $1.1M | $525.0K | $655.9K | $1.1M | $76.7K | ||||||||
| Interest Paid | $436.7K | $691.2K | $616.9K | $15.2K | |||||||||
| Capitalized Computer Software Net | $0.00 | $17.0K | $42.6K | $51.1K | |||||||||
| Stock Issued During Period Value New Issues | $20.0M | $12.6M | $41.6M | $28.5M | $51.6M | ||||||||
| Capitalized Computer Software Amortization1 | $17.0K | $25.5K | $8.5K |
Quarterly (10-Q, single quarters)
| Metric \ Quarter | 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 | Q3 2020 | Q2 2020 | Q1 2020 | Q3 2019 | Q2 2019 | Q1 2019 | Q3 2018 | Q2 2018 | Q1 2018 | Q3 2017 | Q2 2017 | Q1 2017 | Q3 2016 | Q2 2016 | Q1 2016 | Q3 2015 | Q2 2015 | Q1 2015 | Q3 2014 | Q2 2014 | Q1 2014 | Q3 2013 | Q2 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Foreign Currency Transaction Gain Loss Before Tax | -$6.2K | -$21.1K | -$8.4K | -$13.1K | -$4.7K | $5.5K | -$5.1K | -$7.2K | -$8.7K | $2.1K | $1.6K | -$3.8K | -$4.9K | -$19.0K | -$4.9K | -$27.5K | -$3.7K | -$9.4K | -$4.8K | -$6.7K | -$6.3K | -$11.0K | $29.3K | -$18.1K | -$9.4K | -$20.1K | -$16.7K | -$2.6K | -$15.5K | -$9.5K | -$2.3K | -$29.1K | $16.0K | $11.0K | $10.5K | -$6.6K | -$2.9K | |
| Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value | $272.9K | $298.2K | $297.2K | $307.7K | $329.3K | $438.8K | $371.9K | $608.9K | $376.5K | $1.0M | $1.1M | $1.1M | $1.1M | $1.4M | $1.5M | $2.1M | $3.5M | $2.2M | $2.2M | $2.3M | $2.5M | $2.3M | $1.9M | $2.1M | $1.3M | $790.2K | $336.4K | |||||||||||
| Investment Income Interest | $106.6K | $136.7K | $158.3K | $314.0K | $360.8K | $357.9K | $348.7K | $365.6K | $364.2K | $180.1K | $72.4K | $7.4K | $4.2K | $4.6K | $4.1K | $5.2K | $24.9K | $129.8K | $324.5K | $434.2K | $491.0K | $418.3K | $411.5K | $414.3K | $293.8K | $155.7K | $58.7K | $70.0K | $34.6K | $32.4K | $37.9K | $27.0K | $4.00 | $2.8K | ||||
| Prepaid Expense Current | $633.5K | $199.6K | $534.8K | $1.3M | $428.0K | $702.5K | $1.2M | $329.2K | $596.0K | $1.4M | $184.8K | $650.5K | $1.8M | $910.6K | $1.4M | $2.4M | $542.7K | $851.9K | $1.4M | $1.5M | $1.1M | $3.7M | $3.2M | $4.2M | $1.1M | $421.7K | $791.5K | $702.4K | $278.2K | $617.8K | $1.2M | $309.0K | $503.3K | $583.5K | $33.2K | |||
| Investment Income Net Amortization Of Discount And Premium | $65.0K | $242.7K | $54.2K | $1.9K | -$59.8K | |||||||||||||||||||||||||||||||||
| Stock Issued During Period Value Stock Options Exercised | $346.0K | $797.6K | $525.0K | $490.8K | $281.8K | |||||||||||||||||||||||||||||||||
| Interest Paid | $54.0K | $141.5K | $176.3K | $88.1K | ||||||||||||||||||||||||||||||||||
| Capitalized Computer Software Net | $0.00 | $4.3K | $10.6K | $23.4K | $29.8K | $36.2K | $49.0K | $51.1K | $51.1K | $51.1K | ||||||||||||||||||||||||||||
| Stock Issued During Period Value New Issues | $20.0M | $7.4M | $5.2M | $1,000.0K | ||||||||||||||||||||||||||||||||||
| Capitalized Computer Software Amortization1 | $0.00 | $6.4K | $6.4K |
Most recent annual filing with the SEC: March 11, 2026
Data sourced from SEC EDGAR public filings as of August 4, 2026.