FISN
FISNCIK 0001918102
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Deep Fission files for IPO, plans to raise $42.5M at $17/share midpoint; company nets $35.2M
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Latest financial statements
From 10-Q filed Aug 3, 2026 (period ending Jun 30, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Condensed Consolidated Statements of Operations (Unaudited)
(In thousands, except share and per share data)
| Description | Three months ended June 30, 2026 | Three months ended June 30, 2025 | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|---|---|
| Operating expenses | ||||
| General and administrative expenses | 13,289 | 1,234 | 27,255 | 2,269 |
| Research and development expenses | 18,297 | 865 | 26,169 | 1,550 |
| Operating expenses | 31,586 | 2,099 | 53,424 | 3,819 |
| Operating loss | (31,586) | (2,099) | (53,424) | (3,819) |
| Other non-operating income (expense) | ||||
| Interest income | 574 | — | 1,067 | — |
| Change in fair value of SAFE Notes | — | (1,701) | — | (3,119) |
| Other income | 3 | 1 | 4 | 2 |
| Total non-operating income (expense) | 577 | (1,700) | 1,071 | (3,117) |
| Net loss | (31,009) | (3,799) | (52,353) | (6,936) |
| Basic and diluted weighted average shares outstanding of common stock | 55,098,477 | 14,002,557 | 53,532,466 | 14,057,349 |
| Basic and diluted net loss per share of common stock | (0.56) | (0.27) | (0.98) | (0.49) |
Condensed Consolidated Balance Sheets (Unaudited)
(In thousands, except share and per share data)
| Description | June 30, 2026 | December 31, 2025 |
|---|---|---|
| ASSETS | ||
| Current Assets | ||
| Cash and cash equivalents | 93,016 | 23,719 |
| Prepaid expenses | 4,710 | 713 |
| Other current assets | 43 | — |
| Total current assets | 97,769 | 24,432 |
| Property and equipment, net | 101 | 37 |
| Long-term prepaid expenses | 9,388 | 221 |
| Operating lease right-of-use assets | 50 | — |
| Total assets | 107,308 | 24,690 |
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||
| Current Liabilities | ||
| Accounts payable | 5,069 | 538 |
| Accrued expenses | 1,094 | 184 |
| Operating lease liabilities current | 28 | — |
| Accrued compensation | 2,334 | 25 |
| RSU liability award | — | 1,656 |
| Total current liabilities | 8,525 | 2,403 |
| Operating lease liabilities non-current | 28 | — |
| Total liabilities | 8,553 | 2,403 |
| Commitments and contingencies (Note 6) | ||
| Stockholders’ equity (deficit) | ||
| Common stock, par value $0.0001 and $0.0001 per share, 300,000,000 shares authorized, 59,745,938 and 51,099,089 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively | 6 | 5 |
| Additional paid-in capital | 217,829 | 89,009 |
| Accumulated deficit | (119,080) | (66,727) |
| Total stockholders’ equity | 98,755 | 22,287 |
| Total liabilities and stockholders’ equity | 107,308 | 24,690 |
Condensed Consolidated Statements of Cash Flows (Unaudited)
(In thousands)
| Description | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|
| Cash flows from operating activities: | ||
| Net loss | (52,353) | (6,936) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation and amortization | 20 | 3 |
| Change in fair value of SAFE notes | — | 3,119 |
| Stock-based compensation | 17,725 | 228 |
| Changes in operating assets and liabilities: | ||
| Prepaid expenses | (13,164) | (87) |
| Other current assets | (43) | — |
| Accounts payable | 2,434 | 92 |
| Accrued expenses | 610 | (32) |
| Accrued compensation | 2,309 | (19) |
| Net cash used in operating activities | (42,462) | (3,632) |
| Cash flows from investing activities: | ||
| Purchases of property and equipment | (78) | (29) |
| Net cash used in investing activities | (78) | (29) |
| Cash flows from financing activities: | ||
| Proceeds from convertible SAFE notes | — | 1,711 |
| Proceeds from private placement | 80,000 | — |
| Offering costs paid related to private placement | (4,851) | — |
| Proceeds from initial public offering, net of underwriting discounts and commissions | 36,800 | — |
| Offering costs paid related to initial public offering | (112) | — |
| Net cash provided by financing activities | 111,837 | 1,711 |
| Net increase (decrease) in cash and cash equivalents | 69,297 | (1,950) |
| Cash and cash equivalents, beginning of the year | 23,719 | 6,729 |
| Cash and cash equivalents, end of the period | 93,016 | 4,779 |
| Supplemental cash flow information: | ||
| Subscription of SAFE notes | — | 33 |
| Right-of-use assets acquired through operating leases | 62 | — |
Amounts as printed on the EDGAR/iXBRL face — (In thousands, except share and per share data); (In thousands). Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗