Terra Innovatum Global N.V. 10-Q

Financial Statements (unaudited)

ITEM 1. FINANCIAL STATEMENTS. Terra Innovatum Global N.V. (formerly Terra Innovatum Global Srl.) Interim Condensed Consolidated Balance Sheets (all amounts in USD)(in thousands) March 31, December 31, 2026 2025 Unaudited Assets Current assets: Cash and cash equivalents $ 96,701 $ 102,882 Accounts receivable, net - 4 Prepaid expenses and other current assets 4,781 3,148 Total current assets 101,482 106,034 Equipment, net 417 102 Total assets $ 101,899 $ 106,136 Liabilities and shareholders’ deficit Current liabilities: Accounts payable $ 737 $ 1,150 Accrued expenses and other current liabilities 4,018 2,009 Total current liabilities 4,755 3,159 Share-settled contingent liability 185,860 186,323 Warrant liabilities 9,949 10,236 Other non-current liabilities 27 8 Total liabilities 200,591 199,726 Commitments and contingencies (Note 10) Shareholders’ deficit: Ordinary shares (€ 0.01 par value, 500,000,000 shares authorized as of March 31, 2026 and December 31, 2025; 110,226,198 shares issued and outstanding as of March 31, 2026 and 110,226,198 issued and outstanding as of December 31, 2025) 1,281 1,281 Convertible Preferred Shares (€ 100 par value, 8,040 shares authorized as of March 31, 2026 and December 31, 2025; 20 shares issued and outstanding as of March 31, 2026 and December 31, 2025) 3,086 3,086 Additional paid-in capital 519,422 519,422 Accumulated deficit ( 614,382 ) ( 607,276 ) Accumulated other comprehensive loss ( 8,099 ) ( 10,103 ) Total shareholders’ deficit ( 98,692 ) ( 93,590 ) Total liabilities and shareholders’ deficit $ 101,899 $ 106,136 The accompanying notes are an integral part of these interim condensed consolidated financial statements. Field: Page; Sequence: 4; Options: NewSection; Value: 1 Field: Sequence; Type: Arabic; Name: PageNo 1 Field: /Sequence Field: /Page Terra Innovatum Global N.V. (formerly Terra Innovatum Global Srl.) Interim Condensed Consolidated Statements of Operations and Comprehensive Income (all amounts in USD)(in thousands, except share and per share amounts) For The Three Months Ended March 31, 2026 2025 Unaudited Operating expenses: General and administrative $ 5,396 $ 1,416 Development costs 1,238 33 Total operating expenses 6,634 1,449 Loss from operations ( 6,634 ) ( 1,449 ) Other income (expenses): Other income, net 2,780 1 Change in fair value - share settled contingent liability ( 3,335 ) - Change in fair val