Terrestrial Energy Inc (IMSR) financial statements: income statement, balance sheet and cash flow
Terrestrial Energy Inc's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Terrestrial Energy Inc reported net income of ($28.0M).
Income statement
Terrestrial Energy Inc income statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Research and development costs
$9.8M
—
General and administrative
$14.3M
—
Depreciation and amortization
$1.2M
—
Total Operating Expenses
$25.2M
—
OPERATING LOSS
($25.2M)
—
Government grants
$323.5K
—
Interest expense
($4.3M)
—
Interest and dividend income
$1.3M
—
Foreign exchange gain (loss)
($57.2K)
—
OTHER (EXPENSE) INCOME
($2.8M)
—
Net loss before income tax
($28.0M)
—
Income tax expense
($17.9K)
—
Net loss
($28.0M)
—
Loss per common share, basic (in dollars per share)
-$0.39
—
Loss per common share, diluted (in dollars per share)
-$0.39
—
Weighted-Average Shares of Common Shares Outstanding, Basic (in shares)
71.6M
—
Weighted-Average Shares of Common Shares Outstanding, Diluted (in shares)
71.6M
—
Foreign currency translation adjustments
($260.7K)
—
Change in unrealized gains on short term investments
$1.1M
—
Comprehensive loss
($27.1M)
—
Terrestrial Energy Inc income statement, quarters
Line item
Jun 30, 2026 · Q2
Mar 31, 2026 · Q1
Sep 30, 2025 · Q3
Jun 30, 2025 · Q2
Research and development costs
$3.5M
$4.6M
—
—
General and administrative
$8.0M
$7.3M
$1.6M
$1.5M
Depreciation and amortization
$145.0K
$61.0K
—
—
Total Operating Expenses
$11.7M
$11.9M
—
—
OPERATING LOSS
($11.7M)
($11.9M)
($1.6M)
($1.5M)
Government grants
$40.0K
$48.0K
—
—
Interest and dividend income
$2.5M
$1.5M
—
—
Foreign exchange (loss) gain
($170.0K)
($34.0K)
—
—
OTHER INCOME (EXPENSE)
$2.4M
$1.5M
$3.6M
$2.1M
Net loss before income tax
($9.3M)
($10.5M)
—
—
Income tax expense
($78.0K)
($37.0K)
—
—
Net loss
($9.4M)
($10.5M)
$1.9M
$601.0K
Loss per common share, basic (in dollars per share)
-$0.09
-$0.10
$0.14
$0.04
Loss per common share, diluted (in dollars per share)
-$0.09
-$0.10
$0.14
$0.04
Weighted-Average Shares of Common Shares Outstanding, Basic (in shares)
105.9M
105.9M
—
28.8M
Weighted-Average Shares of Common Shares Outstanding, Diluted (in shares)
105.9M
105.9M
28.8M
28.8M
Foreign currency translation adjustments
($289.0K)
($64.0K)
—
—
Change in net unrealized gains on short-term and long-term investments
($140.0K)
$838.0K
—
—
Comprehensive loss
($9.8M)
($9.7M)
—
—
Balance sheet
Terrestrial Energy Inc balance sheet, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Cash and cash equivalents
$97.2M
$668.1K
Short-Term Investments
$200.6M
—
Prepaid expenses and other current assets
$1.8M
$90.3K
Total current assets
$299.6M
$820.2K
Property and equipment, net
$834.8K
—
Intangible assets, net
$707.7K
—
Right-of-use assets
$1.8M
—
Other assets
$63.6K
—
Total Assets
$303.0M
$236.1M
Accounts payable and accrued expenses
$5.5M
—
Operating lease liabilities, current
$383.2K
—
Finance lease liabilities, current
$33.4K
—
Total current liabilities
$5.9M
$458.6K
Operating lease liabilities, noncurrent
$1.6M
—
Finance lease liabilities, noncurrent
$56.0K
—
Total liabilities
$7.6M
$11.2M
Common shares, $0.0001 par value; 500,000,000 authorized shares; 81,771,422 and 39,159,901 shares issued and outstanding as of December 31, 2025 and 2024, respectively
8.2K
575
Exchangeable shares, $0.0001 par value; 24,011,017 shares issued and outstanding as of December 31, 2025 and December 31, 2024
2.4K
—
Additional paid-in-capital
$418.8M
—
Accumulated deficit
($124.6M)
($10.3M)
Accumulated other comprehensive income
$1.2M
—
Total stockholders' equity (deficit)
$295.4M
—
Total liabilities and stockholders' equity (deficit)
$303.0M
$236.1M
Terrestrial Energy Inc balance sheet, quarters
Line item
Jun 30, 2026
Mar 31, 2026
Sep 30, 2025
Jun 30, 2025
Cash and cash equivalents
$130.7M
$76.9M
—
—
Short-term investments
$142.8M
$198.0M
—
—
Prepaid expenses and other current assets
$1.3M
$1.8M
$75.2K
$90.3K
Total current assets
$274.8M
$276.7M
$461.7K
$289.8K
Property and equipment, net
$806.0K
$831.0K
—
—
Long-term investments
$9.9M
$14.9M
—
—
Intangible assets, net
$688.0K
$699.0K
—
—
Right-of-use assets
$3.6M
$1.9M
—
—
Other assets
$76.0K
$78.0K
—
—
Total Assets
$289.9M
$295.2M
$243.1M
$240.4M
Accounts payable and accrued expenses
$4.3M
$4.5M
—
—
Operating lease liabilities, current
$1.8M
$520.0K
—
—
Finance lease liabilities, current
$33.0K
$33.0K
—
—
Total current liabilities
$6.2M
$5.0M
$4.3M
$2.5M
Operating lease liabilities, noncurrent
$2.0M
$1.5M
—
—
Finance lease liabilities, noncurrent
$37.0K
$46.0K
—
—
Total liabilities
$8.2M
$6.6M
$15.0M
$14.3M
Common shares, $0.0001 par value; 500,000,000 authorized shares; 82,718,567 and 81,771,422 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively
8.0K
8.0K
575
575
Exchangeable shares, $0.0001 par value; 23,216,687 and 24,011,017 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively
2.0K
2.0K
—
—
Additional paid-in-capital
$424.6M
$421.7M
—
—
Accumulated deficit
($144.5M)
($135.1M)
($14.5M)
($14.0M)
Accumulated other comprehensive income
$1.6M
$2.0M
—
—
Total stockholders' equity
$281.7M
$288.6M
($14.5M)
($14.0M)
Total liabilities and stockholders' equity
$289.9M
$295.2M
$243.1M
$240.4M
Cash flow statement
Terrestrial Energy Inc cash flow statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Net loss
($28.0M)
—
Depreciation and amortization
$1.2M
—
Amortization of debt discount
$2.1M
—
Stock-based compensation
$3.1M
—
Unrealized foreign currency transaction gain
($807.2K)
—
Noncash lease expense
$471.4K
—
Deferred income taxes
$15.4K
—
Prepaid expenses and other current assets
($1.8M)
—
Accounts payable and accrued expenses
$5.4M
—
Accrued interest
$2.2M
—
Operating lease payments
($328.5K)
—
Net cash used in operating activities
($16.5M)
—
Purchases of intangible assets
($86.2K)
—
Purchases of property and equipment
($1.1M)
—
Purchase of short-term investments
($199.5M)
—
Net cash used in investing activities
($200.6M)
—
Proceeds from issuance of convertible notes
$11.0M
—
Proceeds from Series A-1 preferred shares issuance
25.8M
—
Proceeds from the exercise of stock options for common shares
136
—
Proceeds from warrant exercise for common shares
4.5M
—
Proceeds from issuance of shares to PIPE investors
49.5M
—
Proceeds from merger financing
$243.1M
—
Payment of merger and recapitalization related transaction costs
($22.3M)
—
Repayment of finance lease liabilities
($149.1K)
—
Net cash provided by financing activities
$311.4M
—
Effect of exchange rate changes on cash and cash equivalents
($140.7K)
—
Increase (decrease) in cash and cash equivalents during the year
$94.1M
—
Cash and cash equivalents, beginning of year
$3.0M
—
Cash and cash equivalents, end of year
$97.2M
—
Conversion of convertible notes to common shares
29.8M
—
Initial recognition of finance leases
$42.6K
—
Recognition of warrants in connection with convertible notes, net of tax
$2.6M
—
Terrestrial Energy Inc cash flow statement, quarters
Line item
Jun 30, 2026 · YTD
Mar 31, 2026 · Q1
Sep 30, 2025 · YTD
Jun 30, 2025 · YTD
Net loss
($19.9M)
($10.5M)
—
—
Depreciation and amortization
$206.0K
$61.0K
—
—
Interest income and accretion of discount on investments, net
($98.0K)
($55.0K)
—
—
Stock-based compensation
$5.6M
$2.8M
—
—
Unrealized foreign currency transaction gains
($236.0K)
($378.0K)
—
—
Noncash lease expense
$298.0K
$99.0K
—
—
Prepaid expenses and other current assets
$572.0K
$27.0K
—
—
Accounts payable and accrued expenses
($1.0M)
($908.0K)
—
—
Operating lease payments
($261.0K)
($197.0K)
—
—
Net cash used in operating activities
($14.8M)
($9.1M)
($1.1M)
($544.0K)
Purchases of intangible assets
($20.0K)
—
—
—
Purchases of property and equipment
($161.0K)
($53.0K)
—
—
Purchase of investments
($92.5M)
($73.1M)
—
—
Proceeds from redemptions of investments
$141.1M
$61.7M
—
—
Net cash provided by (used in) investing activities
$48.5M
($11.5M)
—
—
Proceeds from the exercise of stock options for common shares
158.0K
158.0K
—
—
Repayment of finance lease liabilities
($18.0K)
($9.0K)
—
—
Net cash provided by financing activities
$140.0K
$149.0K
$738.0K
—
Effect of exchange rate changes on cash and cash equivalents
($223.0K)
$232.0K
—
—
Increase in cash and cash equivalents during the period
$33.6M
($20.2M)
—
—
Cash and cash equivalents, beginning of period
$97.2M
$97.2M
$668.1K
$668.1K
Cash and cash equivalents, end of period
$130.7M
$76.9M
—
—
Operating lease liabilities obtained in exchange for operating lease assets