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Where the tokens are
Standardised from the company’s filings, newest period first, labelled with the company’s own fiscal calendar. A line the company does not report is left off rather than shown as zero; margins and free cash flow are worked out here, and only where every input is present.
| Line item | Q2 FY262026-06-30 | Q1 FY262026-03-31 | Q4 FY252025-12-31 | Q3 FY252025-09-30 | Q2 FY252025-06-30 | Q1 FY252025-03-31 | Q4 FY242024-12-31 | Q3 FY242024-09-30 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $883.00M | $720.00M | $736.00M | $915.00M | $1.57B | $1.15B | $1.08B | $1.38B |
| Cost of revenue | $797.00M | $648.00M | $679.00M | $849.00M | $1.44B | $1.05B | $999.00M | $1.27B |
| Gross profit | $86.00M | $72.00M | $57.00M | $66.00M | $128.00M | $99.00M | $85.00M | $105.00M |
| Gross margin | 9.7% | 10.0% | 7.7% | 7.2% | 8.2% | 8.6% | 7.8% | 7.6% |
| Research and development | $27.00M | $24.00M | $18.00M | $19.00M | $21.00M | $21.00M | $33.00M | $30.00M |
| Selling, general and administrative | $200.00M | $207.00M | $189.00M | $114.00M | $114.00M | $131.00M | $129.00M | $142.00M |
| Operating expenses | $230.00M | $231.00M | $207.00M | $134.00M | $141.00M | $155.00M | $179.00M | $172.00M |
| Operating income | −$144.00M | −$159.00M | −$150.00M | −$68.00M | −$13.00M | −$56.00M | −$94.00M | −$67.00M |
| Operating margin | -16.3% | -22.1% | -20.4% | -7.4% | -0.8% | -4.9% | -8.7% | -4.9% |
| EBITDA | −$133.00M | −$151.00M | −$139.00M | −$56.00M | $5.00M | −$43.00M | −$66.00M | −$56.00M |
| Interest expense | −$29.00M | −$23.00M | −$28.00M | −$34.00M | −$36.00M | −$33.00M | −$32.00M | −$34.00M |
| Income before taxes | −$162.00M | −$173.00M | −$1.10B | −$89.00M | −$29.00M | −$85.00M | −$113.00M | −$78.00M |
| Income taxes | $0 | $0 | −$1.00M | $1.00M | $0 | $0 | $0 | — |
| Net income | −$162.00M | −$173.00M | −$1.10B | −$90.00M | −$29.00M | −$85.00M | −$113.00M | −$78.00M |
| Net margin | -18.3% | -24.0% | -148.9% | -9.8% | -1.9% | -7.4% | -10.4% | -5.7% |
| EPS, basic | −$0.17 | −$0.18 | −$1.26 | −$0.12 | −$0.04 | −$0.12 | −$0.16 | −$0.11 |
| EPS, diluted | −$0.17 | −$0.18 | −$1.26 | −$0.12 | −$0.04 | −$0.12 | −$0.16 | −$0.11 |
| Diluted shares | 965.78M | 959.33M | 871.16M | 766.67M | 729.48M | 723.54M | 716.57M | 728.87M |
Figures describe OPEN shares, not any token. As of Aug 4, 2026, from Massive's standardised financials. The company reports these figures; a token's issuer holds the shares and reports nothing of its own here.