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What changed: r2 to r3

Added September completed/conditional funding split, preferred PIK, stockpile delivery limits and German price sensitivity.

Retrieval clocks and internal hashes are excluded. Changed source or accounting definitions are not automatically an economic restatement. The authored reason describes the destination revision.

FieldBeforeAfter
/business/descriptionBUSINESS Overview We provide precision -engineered components and advanced high -power systems for growth markets. Our customers in these markets require advanced technology involving Critical Materials, such as tungsten, molybdenum and niobium and High -Power Microwave, such as high level RF engineering, including plasma generation, radar, and other high -energy systems. Our products and solutions are integral to the Aerospace, Defense and Government, Industrial, Medical, Semiconductor and Electronics and Energy industries. These are industries which require components capable of performing in extreme thermal, electromagnetic, and technical environments for vital use cases. Our fundamental mission is to strengthen U.S. domestic manufacturing capabilities to support the United States and its allies’ needs in both Critical Materials and advanced High -Power Microwave systems. We believe we are the leader and sole -source U.S. producer of many highly engineered Critical Materials products and a leading designer and manufacturer of High -Power Microwave components in.The Elmet Group manufactures tungsten and molybdenum components and advanced high-power systems. Its new government-backed supply-chain program adds planned mining, refining and stockpile-delivery activity. Existing product demand, material prices, investment timing and senior preferred claims determine cash economics.
/business/drivers/0Our customers in these markets require advanced technology involving Critical Materials, such as tungsten, molybdenum and niobium and High -Power Microwave.Core demand versus raw-material price pass-through
/business/drivers/1Our products and solutions are integral to the Aerospace, Defense and Government, Industrial, Medical, Semiconductor and Electronics and Energy industries.Incremental tungsten supply and accepted stockpile deliveries
/business/drivers/2producer of many highly engineered Critical Materials products and a leading designer and manufacturer of High -Power Microwave components in the United States.Staged preferred funding, project cash and acquisition terms
/estimates/basisnot yet estimatedDesk base scenario from the operating model; not consensus. Revenue basis: Total revenue ($M).
/estimates/rows/2026Q3/as_ofNone2026-09-19
/estimates/rows/2026Q3/basisNoneDesk base scenario. Revenue basis: Total revenue ($M). Calculated from the operating-model inputs below; not consensus or company guidance.
/estimates/rows/2026Q3/classNoneestimate
/estimates/rows/2026Q3/periodNone2026Q3
/estimates/rows/2026Q3/revenueNone77721050.0
/estimates/rows/2026Q4/as_ofNone2026-09-19
/estimates/rows/2026Q4/basisNoneDesk base scenario. Revenue basis: Total revenue ($M). Calculated from the operating-model inputs below; not consensus or company guidance.
/estimates/rows/2026Q4/classNoneestimate
/estimates/rows/2026Q4/periodNone2026Q4
/estimates/rows/2026Q4/revenueNone83041100.0
/estimates/rows/2027Q1/as_ofNone2026-09-19
/estimates/rows/2027Q1/basisNoneDesk base scenario. Revenue basis: Total revenue ($M). Calculated from the operating-model inputs below; not consensus or company guidance.
/estimates/rows/2027Q1/classNoneestimate
/estimates/rows/2027Q1/periodNone2027Q1
/estimates/rows/2027Q1/revenueNone88361150.0
/estimates/rows/2027Q2/as_ofNone2026-09-19
/estimates/rows/2027Q2/basisNoneDesk base scenario. Revenue basis: Total revenue ($M). Calculated from the operating-model inputs below; not consensus or company guidance.
/estimates/rows/2027Q2/classNoneestimate
/estimates/rows/2027Q2/periodNone2027Q2
/estimates/rows/2027Q2/revenueNone102009220.0
/meta/as_of2026-09-182026-09-19
/meta/business_authoredFalseTrue
/meta/extract_accession0001213900-26-043190None
/meta/extract_filed2026-04-14None
/meta/extract_formS-1/ANone
/meta/extract_sourcefilingauthored
/meta/extract_urlhttps://www.sec.gov/Archives/edgar/data/2101698/000121390026043190/ea0270360-05.htmNone
/meta/research_reviewed_atNone2026-09-19
/meta/research_stageNoneoperating_scenarios
/meta/revision23
/meta/skeletonTrueFalse
/model/quarters/2025-03-31/fcf/provenance/conceptNetCashProvidedByUsedInOperatingActivities - PaymentsToAcquirePropertyPlantAndEquipmentCFO - capex; NetCashProvidedByUsedInOperatingActivities [https://data.sec.gov/api/xbrl/companyfacts/CIK0002101698.json; filed 2026-05-29] ; PaymentsToAcquirePropertyPlantAndEquipment [https://data.sec.gov/api/xbrl/companyfacts/CIK0002101698.json; filed 2026-05-29]
/model/quarters/2025-03-31/fiscal_label2026Q12025Q1
/model/quarters/2025-06-30/cash/provenance/classNonereported
/model/quarters/2025-06-30/cash/provenance/conceptNoneTotal cash including discontinued operations
/model/quarters/2025-06-30/cash/provenance/filedNone2026-08-13
/model/quarters/2025-06-30/cash/provenance/source_urlNonehttps://www.sec.gov/Archives/edgar/data/2101698/000162828026056460/elmt-20260703.htm
/model/quarters/2025-06-30/cash/valueNone1795000.0
/model/quarters/2025-06-30/fcf/provenance/conceptNetCashProvidedByUsedInOperatingActivities - PaymentsToAcquirePropertyPlantAndEquipmentCFO - capex; NetCashProvidedByUsedInOperatingActivities [https://data.sec.gov/api/xbrl/companyfacts/CIK0002101698.json; filed 2026-08-13] ; PaymentsToAcquirePropertyPlantAndEquipment [https://data.sec.gov/api/xbrl/companyfacts/CIK0002101698.json; filed 2026-08-13]
/model/quarters/2025-06-30/fiscal_label2027Q22025Q2
/model/quarters/2026-04-03/fcf/provenance/conceptNetCashProvidedByUsedInOperatingActivities - PaymentsToAcquirePropertyPlantAndEquipmentCFO - capex; NetCashProvidedByUsedInOperatingActivities [https://data.sec.gov/api/xbrl/companyfacts/CIK0002101698.json; filed 2026-05-29] ; PaymentsToAcquirePropertyPlantAndEquipment [https://data.sec.gov/api/xbrl/companyfacts/CIK0002101698.json; filed 2026-05-29]
/model/quarters/2026-07-03/cash/provenance/classNonereported
/model/quarters/2026-07-03/cash/provenance/conceptNoneReported ending cash
/model/quarters/2026-07-03/cash/provenance/filedNone2026-08-13
/model/quarters/2026-07-03/cash/provenance/source_urlNonehttps://www.sec.gov/Archives/edgar/data/2101698/000162828026056460/elmt-20260703.htm
/model/quarters/2026-07-03/cash/valueNone66122000.0
/model/quarters/2026-07-03/fcf/provenance/conceptNetCashProvidedByUsedInOperatingActivities - PaymentsToAcquirePropertyPlantAndEquipmentCFO - capex; NetCashProvidedByUsedInOperatingActivities [https://data.sec.gov/api/xbrl/companyfacts/CIK0002101698.json; filed 2026-08-13] ; PaymentsToAcquirePropertyPlantAndEquipment [https://data.sec.gov/api/xbrl/companyfacts/CIK0002101698.json; filed 2026-08-13]
/model/quarters/2026-07-03/fiscal_label2027Q22026Q2
/model/sourcehttps://data.sec.gov/api/xbrl/companyfacts/CIK0002101698.jsonQuarter values retain field-level provenance. Fiscal labels reviewed against https://www.sec.gov/Archives/edgar/data/2101698/000162828026056460/elmt-20260703.htm (2026-08-13); Reported July 3 period is FY2026 Q2 under the 52/53-week calendar, not FY2027.
/operating_model/cells/backlog:shared/basisNoneUSD millions; preferred financing and stockpile program occurred after H1.
/operating_model/cells/backlog:shared/caseNoneshared
/operating_model/cells/backlog:shared/idNonebacklog
/operating_model/cells/backlog:shared/kindNonereported
/operating_model/cells/backlog:shared/labelNonebacklog
/operating_model/cells/backlog:shared/periodNoneH1 / July 3 2026
/operating_model/cells/backlog:shared/source_dateNone2026-08-13
/operating_model/cells/backlog:shared/source_urlNonehttps://www.sec.gov/Archives/edgar/data/2101698/000121390026088714/ea030166201ex99-1.htm
/operating_model/cells/backlog:shared/unitNoneUSD_millions
/operating_model/cells/backlog:shared/valueNone131.5
/operating_model/cells/base_2026q3_blue_moon:base/basisNoneNo consolidated Blue Moon sales or market-value gains.
/operating_model/cells/base_2026q3_blue_moon:base/caseNonebase
/operating_model/cells/base_2026q3_blue_moon:base/formula/opNonemultiply
/operating_model/cells/base_2026q3_blue_moon:base/formula/refs/0Nonebase_2026q3_cad_commitment
/operating_model/cells/base_2026q3_blue_moon:base/formula/refs/1Nonebase_2026q3_cad_usd
/operating_model/cells/base_2026q3_blue_moon:base/idNonebase_2026q3_blue_moon
/operating_model/cells/base_2026q3_blue_moon:base/kindNonederived
/operating_model/cells/base_2026q3_blue_moon:base/labelNoneBlue Moon minority investment cash
/operating_model/cells/base_2026q3_blue_moon:base/periodNone2026Q3
/operating_model/cells/base_2026q3_blue_moon:base/unitNoneUSD_millions
/operating_model/cells/base_2026q3_blue_moon:base/valueNone0.0
/operating_model/cells/base_2026q3_business_investment:base/basisNoneNo initial government receipt netted into capex.
/operating_model/cells/base_2026q3_business_investment:base/caseNonebase
/operating_model/cells/base_2026q3_business_investment:base/formula/opNonesum
/operating_model/cells/base_2026q3_business_investment:base/formula/refs/0Nonebase_2026q3_capex
/operating_model/cells/base_2026q3_business_investment:base/formula/refs/1Nonebase_2026q3_strategic_cash
/operating_model/cells/base_2026q3_business_investment:base/idNonebase_2026q3_business_investment
/operating_model/cells/base_2026q3_business_investment:base/kindNonederived
/operating_model/cells/base_2026q3_business_investment:base/labelNonePP&E and strategic deployment
/operating_model/cells/base_2026q3_business_investment:base/periodNone2026Q3
/operating_model/cells/base_2026q3_business_investment:base/unitNoneUSD_millions
/operating_model/cells/base_2026q3_business_investment:base/valueNone15.0
/operating_model/cells/base_2026q3_cad_commitment:base/basisNoneBinding 3.5M-unit commitment at CAD10, within 45 days of September 14; expected in Q4 fiscal 2026.
/operating_model/cells/base_2026q3_cad_commitment:base/caseNonebase
/operating_model/cells/base_2026q3_cad_commitment:base/idNonebase_2026q3_cad_commitment
/operating_model/cells/base_2026q3_cad_commitment:base/kindNoneassumption
/operating_model/cells/base_2026q3_cad_commitment:base/labelNoneCAD35M investment at 1:1 before FX
/operating_model/cells/base_2026q3_cad_commitment:base/periodNone2026Q3
/operating_model/cells/base_2026q3_cad_commitment:base/unitNoneUSD_millions
/operating_model/cells/base_2026q3_cad_commitment:base/valueNone0.0
/operating_model/cells/base_2026q3_cad_usd:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2026q3_cad_usd:base/caseNonebase
/operating_model/cells/base_2026q3_cad_usd:base/idNonebase_2026q3_cad_usd
/operating_model/cells/base_2026q3_cad_usd:base/kindNoneassumption
/operating_model/cells/base_2026q3_cad_usd:base/labelNoneUSD per CAD assumption
/operating_model/cells/base_2026q3_cad_usd:base/periodNone2026Q3
/operating_model/cells/base_2026q3_cad_usd:base/unitNoneratio
/operating_model/cells/base_2026q3_cad_usd:base/valueNone0.73
/operating_model/cells/base_2026q3_capex:base/basisNoneConsolidated external investment includes domestic expansion and controlled JV plant; internal capital contributions are not counted again.
/operating_model/cells/base_2026q3_capex:base/caseNonebase
/operating_model/cells/base_2026q3_capex:base/idNonebase_2026q3_capex
/operating_model/cells/base_2026q3_capex:base/kindNoneassumption
/operating_model/cells/base_2026q3_capex:base/labelNoneExternal PP&E domestic and controlled-JV cash
/operating_model/cells/base_2026q3_capex:base/periodNone2026Q3
/operating_model/cells/base_2026q3_capex:base/unitNoneUSD_millions
/operating_model/cells/base_2026q3_capex:base/valueNone15.0
/operating_model/cells/base_2026q3_cash_after_funding:base/basisNonePeriod flow only; no claim that preferred cash is freely distributable.
/operating_model/cells/base_2026q3_cash_after_funding:base/caseNonebase
/operating_model/cells/base_2026q3_cash_after_funding:base/formula/opNonesum
/operating_model/cells/base_2026q3_cash_after_funding:base/formula/refs/0Nonebase_2026q3_cash_after_investing
/operating_model/cells/base_2026q3_cash_after_funding:base/formula/refs/1Nonebase_2026q3_preferred_funding
/operating_model/cells/base_2026q3_cash_after_funding:base/idNonebase_2026q3_cash_after_funding
/operating_model/cells/base_2026q3_cash_after_funding:base/kindNonederived
/operating_model/cells/base_2026q3_cash_after_funding:base/labelNoneCash after preferred financing
/operating_model/cells/base_2026q3_cash_after_funding:base/periodNone2026Q3
/operating_model/cells/base_2026q3_cash_after_funding:base/unitNoneUSD_millions
/operating_model/cells/base_2026q3_cash_after_funding:base/valueNone171.2302625
/operating_model/cells/base_2026q3_cash_after_investing:base/basisNoneBefore preferred funding and other capital allocation.
/operating_model/cells/base_2026q3_cash_after_investing:base/caseNonebase
/operating_model/cells/base_2026q3_cash_after_investing:base/formula/opNonesubtract
/operating_model/cells/base_2026q3_cash_after_investing:base/formula/refs/0Nonebase_2026q3_cfo
/operating_model/cells/base_2026q3_cash_after_investing:base/formula/refs/1Nonebase_2026q3_business_investment
/operating_model/cells/base_2026q3_cash_after_investing:base/idNonebase_2026q3_cash_after_investing
/operating_model/cells/base_2026q3_cash_after_investing:base/kindNonederived
/operating_model/cells/base_2026q3_cash_after_investing:base/labelNoneCash after business investing
/operating_model/cells/base_2026q3_cash_after_investing:base/periodNone2026Q3
/operating_model/cells/base_2026q3_cash_after_investing:base/unitNoneUSD_millions
/operating_model/cells/base_2026q3_cash_after_investing:base/valueNone-28.769737499999998
/operating_model/cells/base_2026q3_cash_bonus:base/basisNoneMaximum September award shown as a Q2 2027 cash/expense sensitivity, conditional on employment and measurement criteria; not SBC.
/operating_model/cells/base_2026q3_cash_bonus:base/caseNonebase
/operating_model/cells/base_2026q3_cash_bonus:base/idNonebase_2026q3_cash_bonus
/operating_model/cells/base_2026q3_cash_bonus:base/kindNoneassumption
/operating_model/cells/base_2026q3_cash_bonus:base/labelNonePerformance cash-bonus allowance
/operating_model/cells/base_2026q3_cash_bonus:base/periodNone2026Q3
/operating_model/cells/base_2026q3_cash_bonus:base/unitNoneUSD_millions
/operating_model/cells/base_2026q3_cash_bonus:base/valueNone0.0
/operating_model/cells/base_2026q3_cash_interest:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2026q3_cash_interest:base/caseNonebase
/operating_model/cells/base_2026q3_cash_interest:base/idNonebase_2026q3_cash_interest
/operating_model/cells/base_2026q3_cash_interest:base/kindNoneassumption
/operating_model/cells/base_2026q3_cash_interest:base/labelNoneCash debt interest
/operating_model/cells/base_2026q3_cash_interest:base/periodNone2026Q3
/operating_model/cells/base_2026q3_cash_interest:base/unitNoneUSD_millions
/operating_model/cells/base_2026q3_cash_interest:base/valueNone0.2
/operating_model/cells/base_2026q3_cash_interest_income:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2026q3_cash_interest_income:base/caseNonebase
/operating_model/cells/base_2026q3_cash_interest_income:base/idNonebase_2026q3_cash_interest_income
/operating_model/cells/base_2026q3_cash_interest_income:base/kindNoneassumption
/operating_model/cells/base_2026q3_cash_interest_income:base/labelNoneCash interest income
/operating_model/cells/base_2026q3_cash_interest_income:base/periodNone2026Q3
/operating_model/cells/base_2026q3_cash_interest_income:base/unitNoneUSD_millions
/operating_model/cells/base_2026q3_cash_interest_income:base/valueNone2.0
/operating_model/cells/base_2026q3_cash_opex:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2026q3_cash_opex:base/caseNonebase
/operating_model/cells/base_2026q3_cash_opex:base/idNonebase_2026q3_cash_opex
/operating_model/cells/base_2026q3_cash_opex:base/kindNoneassumption
/operating_model/cells/base_2026q3_cash_opex:base/labelNoneCash corporate R&D and selling expense
/operating_model/cells/base_2026q3_cash_opex:base/periodNone2026Q3
/operating_model/cells/base_2026q3_cash_opex:base/unitNoneUSD_millions
/operating_model/cells/base_2026q3_cash_opex:base/valueNone12.0
/operating_model/cells/base_2026q3_cash_tax:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2026q3_cash_tax:base/caseNonebase
/operating_model/cells/base_2026q3_cash_tax:base/idNonebase_2026q3_cash_tax
/operating_model/cells/base_2026q3_cash_tax:base/kindNoneassumption
/operating_model/cells/base_2026q3_cash_tax:base/labelNoneCash tax
/operating_model/cells/base_2026q3_cash_tax:base/periodNone2026Q3
/operating_model/cells/base_2026q3_cash_tax:base/unitNoneUSD_millions
/operating_model/cells/base_2026q3_cash_tax:base/valueNone2.0
/operating_model/cells/base_2026q3_cash_uses:base/basisNoneProject input prepayments are shown separately in strategic cash.
/operating_model/cells/base_2026q3_cash_uses:base/caseNonebase
/operating_model/cells/base_2026q3_cash_uses:base/formula/opNonesum
/operating_model/cells/base_2026q3_cash_uses:base/formula/refs/0Nonebase_2026q3_cash_tax
/operating_model/cells/base_2026q3_cash_uses:base/formula/refs/1Nonebase_2026q3_cash_interest
/operating_model/cells/base_2026q3_cash_uses:base/formula/refs/2Nonebase_2026q3_inventory_other_cash
/operating_model/cells/base_2026q3_cash_uses:base/formula/refs/3Nonebase_2026q3_pass_inventory_cash
/operating_model/cells/base_2026q3_cash_uses:base/idNonebase_2026q3_cash_uses
/operating_model/cells/base_2026q3_cash_uses:base/kindNonederived
/operating_model/cells/base_2026q3_cash_uses:base/labelNoneTax interest and working capital
/operating_model/cells/base_2026q3_cash_uses:base/periodNone2026Q3
/operating_model/cells/base_2026q3_cash_uses:base/unitNoneUSD_millions
/operating_model/cells/base_2026q3_cash_uses:base/valueNone21.2
/operating_model/cells/base_2026q3_cfo:base/basisNoneNo current-period preferred cash dividend.
/operating_model/cells/base_2026q3_cfo:base/caseNonebase
/operating_model/cells/base_2026q3_cfo:base/formula/opNonesubtract
/operating_model/cells/base_2026q3_cfo:base/formula/refs/0Nonebase_2026q3_operating_cash_earnings
/operating_model/cells/base_2026q3_cfo:base/formula/refs/1Nonebase_2026q3_cash_uses
/operating_model/cells/base_2026q3_cfo:base/idNonebase_2026q3_cfo
/operating_model/cells/base_2026q3_cfo:base/kindNonederived
/operating_model/cells/base_2026q3_cfo:base/labelNoneOperating cash flow proxy
/operating_model/cells/base_2026q3_cfo:base/periodNone2026Q3
/operating_model/cells/base_2026q3_cfo:base/unitNoneUSD_millions
/operating_model/cells/base_2026q3_cfo:base/valueNone-13.769737499999998
/operating_model/cells/base_2026q3_core_margin:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2026q3_core_margin:base/caseNonebase
/operating_model/cells/base_2026q3_core_margin:base/idNonebase_2026q3_core_margin
/operating_model/cells/base_2026q3_core_margin:base/kindNoneassumption
/operating_model/cells/base_2026q3_core_margin:base/labelNoneCore gross margin
/operating_model/cells/base_2026q3_core_margin:base/periodNone2026Q3
/operating_model/cells/base_2026q3_core_margin:base/unitNoneratio
/operating_model/cells/base_2026q3_core_margin:base/valueNone0.25
/operating_model/cells/base_2026q3_core_revenue:base/basisNoneCurrent manufacturing and conditional acquired operations; stockpile is separate.
/operating_model/cells/base_2026q3_core_revenue:base/caseNonebase
/operating_model/cells/base_2026q3_core_revenue:base/formula/opNonesum
/operating_model/cells/base_2026q3_core_revenue:base/formula/refs/0Nonebase_2026q3_legacy_demand
/operating_model/cells/base_2026q3_core_revenue:base/formula/refs/1Nonebase_2026q3_metal_pass
/operating_model/cells/base_2026q3_core_revenue:base/formula/refs/2Nonebase_2026q3_german_revenue
/operating_model/cells/base_2026q3_core_revenue:base/idNonebase_2026q3_core_revenue
/operating_model/cells/base_2026q3_core_revenue:base/kindNonederived
/operating_model/cells/base_2026q3_core_revenue:base/labelNoneCore and acquired revenue
/operating_model/cells/base_2026q3_core_revenue:base/periodNone2026Q3
/operating_model/cells/base_2026q3_core_revenue:base/unitNoneUSD_millions
/operating_model/cells/base_2026q3_core_revenue:base/valueNone77.72105
/operating_model/cells/base_2026q3_da:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2026q3_da:base/caseNonebase
/operating_model/cells/base_2026q3_da:base/idNonebase_2026q3_da
/operating_model/cells/base_2026q3_da:base/kindNoneassumption
/operating_model/cells/base_2026q3_da:base/labelNoneOperating D&A
/operating_model/cells/base_2026q3_da:base/periodNone2026Q3
/operating_model/cells/base_2026q3_da:base/unitNoneUSD_millions
/operating_model/cells/base_2026q3_da:base/valueNone2.0
/operating_model/cells/base_2026q3_demand_index:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2026q3_demand_index:base/caseNonebase
/operating_model/cells/base_2026q3_demand_index:base/idNonebase_2026q3_demand_index
/operating_model/cells/base_2026q3_demand_index:base/kindNoneassumption
/operating_model/cells/base_2026q3_demand_index:base/labelNoneNet volume and mix versus Q2
/operating_model/cells/base_2026q3_demand_index:base/periodNone2026Q3
/operating_model/cells/base_2026q3_demand_index:base/unitNoneratio
/operating_model/cells/base_2026q3_demand_index:base/valueNone1.05
/operating_model/cells/base_2026q3_eur_usd:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2026q3_eur_usd:base/caseNonebase
/operating_model/cells/base_2026q3_eur_usd:base/idNonebase_2026q3_eur_usd
/operating_model/cells/base_2026q3_eur_usd:base/kindNoneassumption
/operating_model/cells/base_2026q3_eur_usd:base/labelNoneUSD per EUR conversion
/operating_model/cells/base_2026q3_eur_usd:base/periodNone2026Q3
/operating_model/cells/base_2026q3_eur_usd:base/unitNoneratio
/operating_model/cells/base_2026q3_eur_usd:base/valueNone1.1
/operating_model/cells/base_2026q3_funding_weight:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2026q3_funding_weight:base/caseNonebase
/operating_model/cells/base_2026q3_funding_weight:base/idNonebase_2026q3_funding_weight
/operating_model/cells/base_2026q3_funding_weight:base/kindNoneassumption
/operating_model/cells/base_2026q3_funding_weight:base/labelNoneNew funding quarter weight
/operating_model/cells/base_2026q3_funding_weight:base/periodNone2026Q3
/operating_model/cells/base_2026q3_funding_weight:base/unitNoneratio
/operating_model/cells/base_2026q3_funding_weight:base/valueNone0.2087912087912088
/operating_model/cells/base_2026q3_german_eur_amount:base/basisNoneDesk working capital and net pension assumptions in contractual price formula; signed amount can be negative.
/operating_model/cells/base_2026q3_german_eur_amount:base/caseNonebase
/operating_model/cells/base_2026q3_german_eur_amount:base/idNonebase_2026q3_german_eur_amount
/operating_model/cells/base_2026q3_german_eur_amount:base/kindNoneassumption
/operating_model/cells/base_2026q3_german_eur_amount:base/labelNoneGerman net price sensitivity, EUR millions represented at 1:1 before FX
/operating_model/cells/base_2026q3_german_eur_amount:base/periodNone2026Q3
/operating_model/cells/base_2026q3_german_eur_amount:base/unitNoneUSD_millions
/operating_model/cells/base_2026q3_german_eur_amount:base/valueNone0.0
/operating_model/cells/base_2026q3_german_gross:base/basisNoneUnverified post-close margin.
/operating_model/cells/base_2026q3_german_gross:base/caseNonebase
/operating_model/cells/base_2026q3_german_gross:base/formula/opNonemultiply
/operating_model/cells/base_2026q3_german_gross:base/formula/refs/0Nonebase_2026q3_german_revenue
/operating_model/cells/base_2026q3_german_gross:base/formula/refs/1Nonebase_2026q3_german_margin
/operating_model/cells/base_2026q3_german_gross:base/idNonebase_2026q3_german_gross
/operating_model/cells/base_2026q3_german_gross:base/kindNonederived
/operating_model/cells/base_2026q3_german_gross:base/labelNoneGerman gross contribution
/operating_model/cells/base_2026q3_german_gross:base/periodNone2026Q3
/operating_model/cells/base_2026q3_german_gross:base/unitNoneUSD_millions
/operating_model/cells/base_2026q3_german_gross:base/valueNone0.0
/operating_model/cells/base_2026q3_german_margin:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2026q3_german_margin:base/caseNonebase
/operating_model/cells/base_2026q3_german_margin:base/idNonebase_2026q3_german_margin
/operating_model/cells/base_2026q3_german_margin:base/kindNoneassumption
/operating_model/cells/base_2026q3_german_margin:base/labelNoneAcquired gross margin
/operating_model/cells/base_2026q3_german_margin:base/periodNone2026Q3
/operating_model/cells/base_2026q3_german_margin:base/unitNoneratio
/operating_model/cells/base_2026q3_german_margin:base/valueNone0.18
/operating_model/cells/base_2026q3_german_price:base/basisNoneScenario only; metal inventory and pension measurement can materially change final consideration.
/operating_model/cells/base_2026q3_german_price:base/caseNonebase
/operating_model/cells/base_2026q3_german_price:base/formula/opNonemultiply
/operating_model/cells/base_2026q3_german_price:base/formula/refs/0Nonebase_2026q3_german_eur_amount
/operating_model/cells/base_2026q3_german_price:base/formula/refs/1Nonebase_2026q3_eur_usd
/operating_model/cells/base_2026q3_german_price:base/idNonebase_2026q3_german_price
/operating_model/cells/base_2026q3_german_price:base/kindNonederived
/operating_model/cells/base_2026q3_german_price:base/labelNoneConditional German closing cash in USD
/operating_model/cells/base_2026q3_german_price:base/periodNone2026Q3
/operating_model/cells/base_2026q3_german_price:base/unitNoneUSD_millions
/operating_model/cells/base_2026q3_german_price:base/valueNone0.0
/operating_model/cells/base_2026q3_german_revenue:base/basisNoneDesk acquired-period contribution only after assumed closing; transaction remains conditional.
/operating_model/cells/base_2026q3_german_revenue:base/caseNonebase
/operating_model/cells/base_2026q3_german_revenue:base/idNonebase_2026q3_german_revenue
/operating_model/cells/base_2026q3_german_revenue:base/kindNoneassumption
/operating_model/cells/base_2026q3_german_revenue:base/labelNoneConditional acquired German revenue
/operating_model/cells/base_2026q3_german_revenue:base/periodNone2026Q3
/operating_model/cells/base_2026q3_german_revenue:base/unitNoneUSD_millions
/operating_model/cells/base_2026q3_german_revenue:base/valueNone0.0
/operating_model/cells/base_2026q3_gross_profit:base/basisNoneCompany forecasts are not supplied for the new program.
/operating_model/cells/base_2026q3_gross_profit:base/caseNonebase
/operating_model/cells/base_2026q3_gross_profit:base/formula/opNonesum
/operating_model/cells/base_2026q3_gross_profit:base/formula/refs/0Nonebase_2026q3_legacy_gross
/operating_model/cells/base_2026q3_gross_profit:base/formula/refs/1Nonebase_2026q3_price_gross
/operating_model/cells/base_2026q3_gross_profit:base/formula/refs/2Nonebase_2026q3_german_gross
/operating_model/cells/base_2026q3_gross_profit:base/formula/refs/3Nonebase_2026q3_stockpile_gross
/operating_model/cells/base_2026q3_gross_profit:base/idNonebase_2026q3_gross_profit
/operating_model/cells/base_2026q3_gross_profit:base/kindNonederived
/operating_model/cells/base_2026q3_gross_profit:base/labelNoneGross profit proxy
/operating_model/cells/base_2026q3_gross_profit:base/periodNone2026Q3
/operating_model/cells/base_2026q3_gross_profit:base/unitNoneUSD_millions
/operating_model/cells/base_2026q3_gross_profit:base/valueNone17.4302625
/operating_model/cells/base_2026q3_inventory_other_cash:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2026q3_inventory_other_cash:base/caseNonebase
/operating_model/cells/base_2026q3_inventory_other_cash:base/idNonebase_2026q3_inventory_other_cash
/operating_model/cells/base_2026q3_inventory_other_cash:base/kindNoneassumption
/operating_model/cells/base_2026q3_inventory_other_cash:base/labelNoneInventory and other working-capital use
/operating_model/cells/base_2026q3_inventory_other_cash:base/periodNone2026Q3
/operating_model/cells/base_2026q3_inventory_other_cash:base/unitNoneUSD_millions
/operating_model/cells/base_2026q3_inventory_other_cash:base/valueNone15.0
/operating_model/cells/base_2026q3_inventory_price_fraction:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2026q3_inventory_price_fraction:base/caseNonebase
/operating_model/cells/base_2026q3_inventory_price_fraction:base/idNonebase_2026q3_inventory_price_fraction
/operating_model/cells/base_2026q3_inventory_price_fraction:base/kindNoneassumption
/operating_model/cells/base_2026q3_inventory_price_fraction:base/labelNonePrice-related inventory funding share
/operating_model/cells/base_2026q3_inventory_price_fraction:base/periodNone2026Q3
/operating_model/cells/base_2026q3_inventory_price_fraction:base/unitNoneratio
/operating_model/cells/base_2026q3_inventory_price_fraction:base/valueNone0.5
/operating_model/cells/base_2026q3_legacy_demand:base/basisNoneDemand separated from incremental metal-price pass-through.
/operating_model/cells/base_2026q3_legacy_demand:base/caseNonebase
/operating_model/cells/base_2026q3_legacy_demand:base/formula/opNonemultiply
/operating_model/cells/base_2026q3_legacy_demand:base/formula/refs/0Noneq2_revenue
/operating_model/cells/base_2026q3_legacy_demand:base/formula/refs/1Nonebase_2026q3_demand_index
/operating_model/cells/base_2026q3_legacy_demand:base/idNonebase_2026q3_legacy_demand
/operating_model/cells/base_2026q3_legacy_demand:base/kindNonederived
/operating_model/cells/base_2026q3_legacy_demand:base/labelNoneLegacy revenue at reference metal prices
/operating_model/cells/base_2026q3_legacy_demand:base/periodNone2026Q3
/operating_model/cells/base_2026q3_legacy_demand:base/unitNoneUSD_millions
/operating_model/cells/base_2026q3_legacy_demand:base/valueNone69.72105
/operating_model/cells/base_2026q3_legacy_gross:base/basisNoneIndependent operating-margin scenario.
/operating_model/cells/base_2026q3_legacy_gross:base/caseNonebase
/operating_model/cells/base_2026q3_legacy_gross:base/formula/opNonemultiply
/operating_model/cells/base_2026q3_legacy_gross:base/formula/refs/0Nonebase_2026q3_legacy_demand
/operating_model/cells/base_2026q3_legacy_gross:base/formula/refs/1Nonebase_2026q3_core_margin
/operating_model/cells/base_2026q3_legacy_gross:base/idNonebase_2026q3_legacy_gross
/operating_model/cells/base_2026q3_legacy_gross:base/kindNonederived
/operating_model/cells/base_2026q3_legacy_gross:base/labelNoneLegacy gross profit
/operating_model/cells/base_2026q3_legacy_gross:base/periodNone2026Q3
/operating_model/cells/base_2026q3_legacy_gross:base/unitNoneUSD_millions
/operating_model/cells/base_2026q3_legacy_gross:base/valueNone17.4302625
/operating_model/cells/base_2026q3_metal_cost:base/basisNoneAt 100% pass-through, higher commodity prices do not create gross profit.
/operating_model/cells/base_2026q3_metal_cost:base/caseNonebase
/operating_model/cells/base_2026q3_metal_cost:base/formula/opNonemultiply
/operating_model/cells/base_2026q3_metal_cost:base/formula/refs/0Nonebase_2026q3_metal_pass
/operating_model/cells/base_2026q3_metal_cost:base/formula/refs/1Nonebase_2026q3_pass_cost_ratio
/operating_model/cells/base_2026q3_metal_cost:base/idNonebase_2026q3_metal_cost
/operating_model/cells/base_2026q3_metal_cost:base/kindNonederived
/operating_model/cells/base_2026q3_metal_cost:base/labelNoneMatched input price cost
/operating_model/cells/base_2026q3_metal_cost:base/periodNone2026Q3
/operating_model/cells/base_2026q3_metal_cost:base/unitNoneUSD_millions
/operating_model/cells/base_2026q3_metal_cost:base/valueNone8.0
/operating_model/cells/base_2026q3_metal_pass:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2026q3_metal_pass:base/caseNonebase
/operating_model/cells/base_2026q3_metal_pass:base/idNonebase_2026q3_metal_pass
/operating_model/cells/base_2026q3_metal_pass:base/kindNoneassumption
/operating_model/cells/base_2026q3_metal_pass:base/labelNoneIncremental raw-material price pass-through
/operating_model/cells/base_2026q3_metal_pass:base/periodNone2026Q3
/operating_model/cells/base_2026q3_metal_pass:base/unitNoneUSD_millions
/operating_model/cells/base_2026q3_metal_pass:base/valueNone8.0
/operating_model/cells/base_2026q3_new_pik_basis:base/basisNoneInitial 19-day approximate accrual; later tranches assumed late-quarter.
/operating_model/cells/base_2026q3_new_pik_basis:base/caseNonebase
/operating_model/cells/base_2026q3_new_pik_basis:base/formula/opNonemultiply
/operating_model/cells/base_2026q3_new_pik_basis:base/formula/refs/0Nonebase_2026q3_preferred_funding
/operating_model/cells/base_2026q3_new_pik_basis:base/formula/refs/1Nonebase_2026q3_funding_weight
/operating_model/cells/base_2026q3_new_pik_basis:base/idNonebase_2026q3_new_pik_basis
/operating_model/cells/base_2026q3_new_pik_basis:base/kindNonederived
/operating_model/cells/base_2026q3_new_pik_basis:base/labelNoneNew funding weighted for partial quarter
/operating_model/cells/base_2026q3_new_pik_basis:base/periodNone2026Q3
/operating_model/cells/base_2026q3_new_pik_basis:base/unitNoneUSD_millions
/operating_model/cells/base_2026q3_new_pik_basis:base/valueNone41.75824175824176
/operating_model/cells/base_2026q3_operating_cash_earnings:base/basisNoneNo debt forgiveness or financing gain.
/operating_model/cells/base_2026q3_operating_cash_earnings:base/caseNonebase
/operating_model/cells/base_2026q3_operating_cash_earnings:base/formula/opNonesum
/operating_model/cells/base_2026q3_operating_cash_earnings:base/formula/refs/0Nonebase_2026q3_operating_income
/operating_model/cells/base_2026q3_operating_cash_earnings:base/formula/refs/1Nonebase_2026q3_sbc
/operating_model/cells/base_2026q3_operating_cash_earnings:base/formula/refs/2Nonebase_2026q3_da
/operating_model/cells/base_2026q3_operating_cash_earnings:base/formula/refs/3Nonebase_2026q3_cash_interest_income
/operating_model/cells/base_2026q3_operating_cash_earnings:base/idNonebase_2026q3_operating_cash_earnings
/operating_model/cells/base_2026q3_operating_cash_earnings:base/kindNonederived
/operating_model/cells/base_2026q3_operating_cash_earnings:base/labelNoneOperating earnings plus noncash and interest
/operating_model/cells/base_2026q3_operating_cash_earnings:base/periodNone2026Q3
/operating_model/cells/base_2026q3_operating_cash_earnings:base/unitNoneUSD_millions
/operating_model/cells/base_2026q3_operating_cash_earnings:base/valueNone7.430262500000001
/operating_model/cells/base_2026q3_operating_income:base/basisNonePreferred PIK is below operating economics, not operating expense.
/operating_model/cells/base_2026q3_operating_income:base/caseNonebase
/operating_model/cells/base_2026q3_operating_income:base/formula/opNonesubtract
/operating_model/cells/base_2026q3_operating_income:base/formula/refs/0Nonebase_2026q3_gross_profit
/operating_model/cells/base_2026q3_operating_income:base/formula/refs/1Nonebase_2026q3_opex
/operating_model/cells/base_2026q3_operating_income:base/idNonebase_2026q3_operating_income
/operating_model/cells/base_2026q3_operating_income:base/kindNonederived
/operating_model/cells/base_2026q3_operating_income:base/labelNoneOperating income proxy
/operating_model/cells/base_2026q3_operating_income:base/periodNone2026Q3
/operating_model/cells/base_2026q3_operating_income:base/unitNoneUSD_millions
/operating_model/cells/base_2026q3_operating_income:base/valueNone1.4302625000000013
/operating_model/cells/base_2026q3_opex:base/basisNoneNo repeat of H1 IPO SBC as if recurring every quarter.
/operating_model/cells/base_2026q3_opex:base/caseNonebase
/operating_model/cells/base_2026q3_opex:base/formula/opNonesum
/operating_model/cells/base_2026q3_opex:base/formula/refs/0Nonebase_2026q3_cash_opex
/operating_model/cells/base_2026q3_opex:base/formula/refs/1Nonebase_2026q3_sbc
/operating_model/cells/base_2026q3_opex:base/formula/refs/2Nonebase_2026q3_da
/operating_model/cells/base_2026q3_opex:base/formula/refs/3Nonebase_2026q3_cash_bonus
/operating_model/cells/base_2026q3_opex:base/idNonebase_2026q3_opex
/operating_model/cells/base_2026q3_opex:base/kindNonederived
/operating_model/cells/base_2026q3_opex:base/labelNoneCash overhead SBC and D&A
/operating_model/cells/base_2026q3_opex:base/periodNone2026Q3
/operating_model/cells/base_2026q3_opex:base/unitNoneUSD_millions
/operating_model/cells/base_2026q3_opex:base/valueNone16.0
/operating_model/cells/base_2026q3_pass_cost_ratio:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2026q3_pass_cost_ratio:base/caseNonebase
/operating_model/cells/base_2026q3_pass_cost_ratio:base/idNonebase_2026q3_pass_cost_ratio
/operating_model/cells/base_2026q3_pass_cost_ratio:base/kindNoneassumption
/operating_model/cells/base_2026q3_pass_cost_ratio:base/labelNoneInput-cost share of pass-through
/operating_model/cells/base_2026q3_pass_cost_ratio:base/periodNone2026Q3
/operating_model/cells/base_2026q3_pass_cost_ratio:base/unitNoneratio
/operating_model/cells/base_2026q3_pass_cost_ratio:base/valueNone1.0
/operating_model/cells/base_2026q3_pass_inventory_cash:base/basisNoneCommodity inflation can tie up cash despite matched gross profit.
/operating_model/cells/base_2026q3_pass_inventory_cash:base/caseNonebase
/operating_model/cells/base_2026q3_pass_inventory_cash:base/formula/opNonemultiply
/operating_model/cells/base_2026q3_pass_inventory_cash:base/formula/refs/0Nonebase_2026q3_metal_pass
/operating_model/cells/base_2026q3_pass_inventory_cash:base/formula/refs/1Nonebase_2026q3_inventory_price_fraction
/operating_model/cells/base_2026q3_pass_inventory_cash:base/idNonebase_2026q3_pass_inventory_cash
/operating_model/cells/base_2026q3_pass_inventory_cash:base/kindNonederived
/operating_model/cells/base_2026q3_pass_inventory_cash:base/labelNoneAdditional price-related inventory funding
/operating_model/cells/base_2026q3_pass_inventory_cash:base/periodNone2026Q3
/operating_model/cells/base_2026q3_pass_inventory_cash:base/unitNoneUSD_millions
/operating_model/cells/base_2026q3_pass_inventory_cash:base/valueNone4.0
/operating_model/cells/base_2026q3_pik_basis:base/basisNoneExisting balance includes prior PIK compounding.
/operating_model/cells/base_2026q3_pik_basis:base/caseNonebase
/operating_model/cells/base_2026q3_pik_basis:base/formula/opNonesum
/operating_model/cells/base_2026q3_pik_basis:base/formula/refs/0Nonebase_2026q3_preferred_opening
/operating_model/cells/base_2026q3_pik_basis:base/formula/refs/1Nonebase_2026q3_new_pik_basis
/operating_model/cells/base_2026q3_pik_basis:base/idNonebase_2026q3_pik_basis
/operating_model/cells/base_2026q3_pik_basis:base/kindNonederived
/operating_model/cells/base_2026q3_pik_basis:base/labelNoneWeighted preferred claim for PIK
/operating_model/cells/base_2026q3_pik_basis:base/periodNone2026Q3
/operating_model/cells/base_2026q3_pik_basis:base/unitNoneUSD_millions
/operating_model/cells/base_2026q3_pik_basis:base/valueNone41.75824175824176
/operating_model/cells/base_2026q3_preferred_ending:base/basisNoneStock balance, not an annual flow; ignores warrant-linked liquidation preference reductions.
/operating_model/cells/base_2026q3_preferred_ending:base/caseNonebase
/operating_model/cells/base_2026q3_preferred_ending:base/formula/opNonesum
/operating_model/cells/base_2026q3_preferred_ending:base/formula/refs/0Nonebase_2026q3_preferred_opening
/operating_model/cells/base_2026q3_preferred_ending:base/formula/refs/1Nonebase_2026q3_preferred_funding
/operating_model/cells/base_2026q3_preferred_ending:base/formula/refs/2Nonebase_2026q3_preferred_pik
/operating_model/cells/base_2026q3_preferred_ending:base/idNonebase_2026q3_preferred_ending
/operating_model/cells/base_2026q3_preferred_ending:base/kindNonederived
/operating_model/cells/base_2026q3_preferred_ending:base/labelNoneEnding preferred claim before warrant adjustments
/operating_model/cells/base_2026q3_preferred_ending:base/periodNone2026Q3
/operating_model/cells/base_2026q3_preferred_ending:base/unitNoneUSD_millions
/operating_model/cells/base_2026q3_preferred_ending:base/valueNone200.57417582417582
/operating_model/cells/base_2026q3_preferred_funding:base/basisNoneInitial $200M received September 14; any later $50M receipt is conditional and respects six-month tranche availability.
/operating_model/cells/base_2026q3_preferred_funding:base/caseNonebase
/operating_model/cells/base_2026q3_preferred_funding:base/idNonebase_2026q3_preferred_funding
/operating_model/cells/base_2026q3_preferred_funding:base/kindNoneassumption
/operating_model/cells/base_2026q3_preferred_funding:base/labelNonePreferred financing receipts
/operating_model/cells/base_2026q3_preferred_funding:base/periodNone2026Q3
/operating_model/cells/base_2026q3_preferred_funding:base/unitNoneUSD_millions
/operating_model/cells/base_2026q3_preferred_funding:base/valueNone200.0
/operating_model/cells/base_2026q3_preferred_opening:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2026q3_preferred_opening:base/caseNonebase
/operating_model/cells/base_2026q3_preferred_opening:base/idNonebase_2026q3_preferred_opening
/operating_model/cells/base_2026q3_preferred_opening:base/kindNoneassumption
/operating_model/cells/base_2026q3_preferred_opening:base/labelNoneOpening preferred claim
/operating_model/cells/base_2026q3_preferred_opening:base/periodNone2026Q3
/operating_model/cells/base_2026q3_preferred_opening:base/unitNoneUSD_millions
/operating_model/cells/base_2026q3_preferred_opening:base/valueNone0.0
/operating_model/cells/base_2026q3_preferred_pik:base/basisNoneNoncash senior claim; no deduction from current-period cash.
/operating_model/cells/base_2026q3_preferred_pik:base/caseNonebase
/operating_model/cells/base_2026q3_preferred_pik:base/formula/opNonemultiply
/operating_model/cells/base_2026q3_preferred_pik:base/formula/refs/0Nonebase_2026q3_pik_basis
/operating_model/cells/base_2026q3_preferred_pik:base/formula/refs/1Nonepreferred_rate
/operating_model/cells/base_2026q3_preferred_pik:base/formula/refs/2Nonebase_2026q3_quarter_year
/operating_model/cells/base_2026q3_preferred_pik:base/idNonebase_2026q3_preferred_pik
/operating_model/cells/base_2026q3_preferred_pik:base/kindNonederived
/operating_model/cells/base_2026q3_preferred_pik:base/labelNonePreferred economic PIK accrual
/operating_model/cells/base_2026q3_preferred_pik:base/periodNone2026Q3
/operating_model/cells/base_2026q3_preferred_pik:base/unitNoneUSD_millions
/operating_model/cells/base_2026q3_preferred_pik:base/valueNone0.5741758241758242
/operating_model/cells/base_2026q3_price_gross:base/basisNoneMismatch sensitivity is explicit.
/operating_model/cells/base_2026q3_price_gross:base/caseNonebase
/operating_model/cells/base_2026q3_price_gross:base/formula/opNonesubtract
/operating_model/cells/base_2026q3_price_gross:base/formula/refs/0Nonebase_2026q3_metal_pass
/operating_model/cells/base_2026q3_price_gross:base/formula/refs/1Nonebase_2026q3_metal_cost
/operating_model/cells/base_2026q3_price_gross:base/idNonebase_2026q3_price_gross
/operating_model/cells/base_2026q3_price_gross:base/kindNonederived
/operating_model/cells/base_2026q3_price_gross:base/labelNoneIncremental price pass-through gross profit
/operating_model/cells/base_2026q3_price_gross:base/periodNone2026Q3
/operating_model/cells/base_2026q3_price_gross:base/unitNoneUSD_millions
/operating_model/cells/base_2026q3_price_gross:base/valueNone0.0
/operating_model/cells/base_2026q3_quarter_year:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2026q3_quarter_year:base/caseNonebase
/operating_model/cells/base_2026q3_quarter_year:base/idNonebase_2026q3_quarter_year
/operating_model/cells/base_2026q3_quarter_year:base/kindNoneassumption
/operating_model/cells/base_2026q3_quarter_year:base/labelNoneQuarter-year fraction
/operating_model/cells/base_2026q3_quarter_year:base/periodNone2026Q3
/operating_model/cells/base_2026q3_quarter_year:base/unitNoneratio
/operating_model/cells/base_2026q3_quarter_year:base/valueNone0.25
/operating_model/cells/base_2026q3_raw_prepay:base/basisNoneDesk first and milestone-conditioned second $25M funding; later negative amounts are consumption/settlement credits, not new revenue.
/operating_model/cells/base_2026q3_raw_prepay:base/caseNonebase
/operating_model/cells/base_2026q3_raw_prepay:base/idNonebase_2026q3_raw_prepay
/operating_model/cells/base_2026q3_raw_prepay:base/kindNoneassumption
/operating_model/cells/base_2026q3_raw_prepay:base/labelNoneNet new raw-material prepayments
/operating_model/cells/base_2026q3_raw_prepay:base/periodNone2026Q3
/operating_model/cells/base_2026q3_raw_prepay:base/unitNoneUSD_millions
/operating_model/cells/base_2026q3_raw_prepay:base/valueNone0.0
/operating_model/cells/base_2026q3_revenue:base/basisNoneNo recognition of preferred funding as revenue.
/operating_model/cells/base_2026q3_revenue:base/caseNonebase
/operating_model/cells/base_2026q3_revenue:base/formula/opNonesum
/operating_model/cells/base_2026q3_revenue:base/formula/refs/0Nonebase_2026q3_core_revenue
/operating_model/cells/base_2026q3_revenue:base/formula/refs/1Nonebase_2026q3_stockpile_revenue
/operating_model/cells/base_2026q3_revenue:base/idNonebase_2026q3_revenue
/operating_model/cells/base_2026q3_revenue:base/kindNonederived
/operating_model/cells/base_2026q3_revenue:base/labelNoneTotal revenue
/operating_model/cells/base_2026q3_revenue:base/periodNone2026Q3
/operating_model/cells/base_2026q3_revenue:base/unitNoneUSD_millions
/operating_model/cells/base_2026q3_revenue:base/valueNone77.72105
/operating_model/cells/base_2026q3_sbc:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2026q3_sbc:base/caseNonebase
/operating_model/cells/base_2026q3_sbc:base/idNonebase_2026q3_sbc
/operating_model/cells/base_2026q3_sbc:base/kindNoneassumption
/operating_model/cells/base_2026q3_sbc:base/labelNoneSBC
/operating_model/cells/base_2026q3_sbc:base/periodNone2026Q3
/operating_model/cells/base_2026q3_sbc:base/unitNoneUSD_millions
/operating_model/cells/base_2026q3_sbc:base/valueNone2.0
/operating_model/cells/base_2026q3_stock_margin:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2026q3_stock_margin:base/caseNonebase
/operating_model/cells/base_2026q3_stock_margin:base/idNonebase_2026q3_stock_margin
/operating_model/cells/base_2026q3_stock_margin:base/kindNoneassumption
/operating_model/cells/base_2026q3_stock_margin:base/labelNoneStockpile gross margin
/operating_model/cells/base_2026q3_stock_margin:base/periodNone2026Q3
/operating_model/cells/base_2026q3_stock_margin:base/unitNoneratio
/operating_model/cells/base_2026q3_stock_margin:base/valueNone0.12
/operating_model/cells/base_2026q3_stockpile_gross:base/basisNoneProcured input cost is reflected in margin; no unsupported floor-price assumption.
/operating_model/cells/base_2026q3_stockpile_gross:base/caseNonebase
/operating_model/cells/base_2026q3_stockpile_gross:base/formula/opNonemultiply
/operating_model/cells/base_2026q3_stockpile_gross:base/formula/refs/0Nonebase_2026q3_stockpile_revenue
/operating_model/cells/base_2026q3_stockpile_gross:base/formula/refs/1Nonebase_2026q3_stock_margin
/operating_model/cells/base_2026q3_stockpile_gross:base/idNonebase_2026q3_stockpile_gross
/operating_model/cells/base_2026q3_stockpile_gross:base/kindNonederived
/operating_model/cells/base_2026q3_stockpile_gross:base/labelNoneStockpile gross contribution
/operating_model/cells/base_2026q3_stockpile_gross:base/periodNone2026Q3
/operating_model/cells/base_2026q3_stockpile_gross:base/unitNoneUSD_millions
/operating_model/cells/base_2026q3_stockpile_gross:base/valueNone0.0
/operating_model/cells/base_2026q3_stockpile_revenue:base/basisNoneSupply-qualified delivery assumption, not pro-rata recognition of the contract ceiling or minimum.
/operating_model/cells/base_2026q3_stockpile_revenue:base/caseNonebase
/operating_model/cells/base_2026q3_stockpile_revenue:base/idNonebase_2026q3_stockpile_revenue
/operating_model/cells/base_2026q3_stockpile_revenue:base/kindNoneassumption
/operating_model/cells/base_2026q3_stockpile_revenue:base/labelNoneAccepted incremental stockpile deliveries
/operating_model/cells/base_2026q3_stockpile_revenue:base/periodNone2026Q3
/operating_model/cells/base_2026q3_stockpile_revenue:base/unitNoneUSD_millions
/operating_model/cells/base_2026q3_stockpile_revenue:base/valueNone0.0
/operating_model/cells/base_2026q3_strategic_cash:base/basisNonePrepaid input consumption cash credits avoid charging both historical prepayment and subsequent COGS cash without adjustment.
/operating_model/cells/base_2026q3_strategic_cash:base/caseNonebase
/operating_model/cells/base_2026q3_strategic_cash:base/formula/opNonesum
/operating_model/cells/base_2026q3_strategic_cash:base/formula/refs/0Nonebase_2026q3_blue_moon
/operating_model/cells/base_2026q3_strategic_cash:base/formula/refs/1Nonebase_2026q3_raw_prepay
/operating_model/cells/base_2026q3_strategic_cash:base/formula/refs/2Nonebase_2026q3_german_price
/operating_model/cells/base_2026q3_strategic_cash:base/idNonebase_2026q3_strategic_cash
/operating_model/cells/base_2026q3_strategic_cash:base/kindNonederived
/operating_model/cells/base_2026q3_strategic_cash:base/labelNoneMinority prepayment and acquisition cash
/operating_model/cells/base_2026q3_strategic_cash:base/periodNone2026Q3
/operating_model/cells/base_2026q3_strategic_cash:base/unitNoneUSD_millions
/operating_model/cells/base_2026q3_strategic_cash:base/valueNone0.0
/operating_model/cells/base_2026q4_blue_moon:base/basisNoneNo consolidated Blue Moon sales or market-value gains.
/operating_model/cells/base_2026q4_blue_moon:base/caseNonebase
/operating_model/cells/base_2026q4_blue_moon:base/formula/opNonemultiply
/operating_model/cells/base_2026q4_blue_moon:base/formula/refs/0Nonebase_2026q4_cad_commitment
/operating_model/cells/base_2026q4_blue_moon:base/formula/refs/1Nonebase_2026q4_cad_usd
/operating_model/cells/base_2026q4_blue_moon:base/idNonebase_2026q4_blue_moon
/operating_model/cells/base_2026q4_blue_moon:base/kindNonederived
/operating_model/cells/base_2026q4_blue_moon:base/labelNoneBlue Moon minority investment cash
/operating_model/cells/base_2026q4_blue_moon:base/periodNone2026Q4
/operating_model/cells/base_2026q4_blue_moon:base/unitNoneUSD_millions
/operating_model/cells/base_2026q4_blue_moon:base/valueNone25.55
/operating_model/cells/base_2026q4_business_investment:base/basisNoneNo initial government receipt netted into capex.
/operating_model/cells/base_2026q4_business_investment:base/caseNonebase
/operating_model/cells/base_2026q4_business_investment:base/formula/opNonesum
/operating_model/cells/base_2026q4_business_investment:base/formula/refs/0Nonebase_2026q4_capex
/operating_model/cells/base_2026q4_business_investment:base/formula/refs/1Nonebase_2026q4_strategic_cash
/operating_model/cells/base_2026q4_business_investment:base/idNonebase_2026q4_business_investment
/operating_model/cells/base_2026q4_business_investment:base/kindNonederived
/operating_model/cells/base_2026q4_business_investment:base/labelNonePP&E and strategic deployment
/operating_model/cells/base_2026q4_business_investment:base/periodNone2026Q4
/operating_model/cells/base_2026q4_business_investment:base/unitNoneUSD_millions
/operating_model/cells/base_2026q4_business_investment:base/valueNone75.55
/operating_model/cells/base_2026q4_cad_commitment:base/basisNoneBinding 3.5M-unit commitment at CAD10, within 45 days of September 14; expected in Q4 fiscal 2026.
/operating_model/cells/base_2026q4_cad_commitment:base/caseNonebase
/operating_model/cells/base_2026q4_cad_commitment:base/idNonebase_2026q4_cad_commitment
/operating_model/cells/base_2026q4_cad_commitment:base/kindNoneassumption
/operating_model/cells/base_2026q4_cad_commitment:base/labelNoneCAD35M investment at 1:1 before FX
/operating_model/cells/base_2026q4_cad_commitment:base/periodNone2026Q4
/operating_model/cells/base_2026q4_cad_commitment:base/unitNoneUSD_millions
/operating_model/cells/base_2026q4_cad_commitment:base/valueNone35.0
/operating_model/cells/base_2026q4_cad_usd:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2026q4_cad_usd:base/caseNonebase
/operating_model/cells/base_2026q4_cad_usd:base/idNonebase_2026q4_cad_usd
/operating_model/cells/base_2026q4_cad_usd:base/kindNoneassumption
/operating_model/cells/base_2026q4_cad_usd:base/labelNoneUSD per CAD assumption
/operating_model/cells/base_2026q4_cad_usd:base/periodNone2026Q4
/operating_model/cells/base_2026q4_cad_usd:base/unitNoneratio
/operating_model/cells/base_2026q4_cad_usd:base/valueNone0.73
/operating_model/cells/base_2026q4_capex:base/basisNoneConsolidated external investment includes domestic expansion and controlled JV plant; internal capital contributions are not counted again.
/operating_model/cells/base_2026q4_capex:base/caseNonebase
/operating_model/cells/base_2026q4_capex:base/idNonebase_2026q4_capex
/operating_model/cells/base_2026q4_capex:base/kindNoneassumption
/operating_model/cells/base_2026q4_capex:base/labelNoneExternal PP&E domestic and controlled-JV cash
/operating_model/cells/base_2026q4_capex:base/periodNone2026Q4
/operating_model/cells/base_2026q4_capex:base/unitNoneUSD_millions
/operating_model/cells/base_2026q4_capex:base/valueNone25.0
/operating_model/cells/base_2026q4_cash_after_funding:base/basisNonePeriod flow only; no claim that preferred cash is freely distributable.
/operating_model/cells/base_2026q4_cash_after_funding:base/caseNonebase
/operating_model/cells/base_2026q4_cash_after_funding:base/formula/opNonesum
/operating_model/cells/base_2026q4_cash_after_funding:base/formula/refs/0Nonebase_2026q4_cash_after_investing
/operating_model/cells/base_2026q4_cash_after_funding:base/formula/refs/1Nonebase_2026q4_preferred_funding
/operating_model/cells/base_2026q4_cash_after_funding:base/idNonebase_2026q4_cash_after_funding
/operating_model/cells/base_2026q4_cash_after_funding:base/kindNonederived
/operating_model/cells/base_2026q4_cash_after_funding:base/labelNoneCash after preferred financing
/operating_model/cells/base_2026q4_cash_after_funding:base/periodNone2026Q4
/operating_model/cells/base_2026q4_cash_after_funding:base/unitNoneUSD_millions
/operating_model/cells/base_2026q4_cash_after_funding:base/valueNone-94.089725
/operating_model/cells/base_2026q4_cash_after_investing:base/basisNoneBefore preferred funding and other capital allocation.
/operating_model/cells/base_2026q4_cash_after_investing:base/caseNonebase
/operating_model/cells/base_2026q4_cash_after_investing:base/formula/opNonesubtract
/operating_model/cells/base_2026q4_cash_after_investing:base/formula/refs/0Nonebase_2026q4_cfo
/operating_model/cells/base_2026q4_cash_after_investing:base/formula/refs/1Nonebase_2026q4_business_investment
/operating_model/cells/base_2026q4_cash_after_investing:base/idNonebase_2026q4_cash_after_investing
/operating_model/cells/base_2026q4_cash_after_investing:base/kindNonederived
/operating_model/cells/base_2026q4_cash_after_investing:base/labelNoneCash after business investing
/operating_model/cells/base_2026q4_cash_after_investing:base/periodNone2026Q4
/operating_model/cells/base_2026q4_cash_after_investing:base/unitNoneUSD_millions
/operating_model/cells/base_2026q4_cash_after_investing:base/valueNone-94.089725
/operating_model/cells/base_2026q4_cash_bonus:base/basisNoneMaximum September award shown as a Q2 2027 cash/expense sensitivity, conditional on employment and measurement criteria; not SBC.
/operating_model/cells/base_2026q4_cash_bonus:base/caseNonebase
/operating_model/cells/base_2026q4_cash_bonus:base/idNonebase_2026q4_cash_bonus
/operating_model/cells/base_2026q4_cash_bonus:base/kindNoneassumption
/operating_model/cells/base_2026q4_cash_bonus:base/labelNonePerformance cash-bonus allowance
/operating_model/cells/base_2026q4_cash_bonus:base/periodNone2026Q4
/operating_model/cells/base_2026q4_cash_bonus:base/unitNoneUSD_millions
/operating_model/cells/base_2026q4_cash_bonus:base/valueNone0.0
/operating_model/cells/base_2026q4_cash_interest:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2026q4_cash_interest:base/caseNonebase
/operating_model/cells/base_2026q4_cash_interest:base/idNonebase_2026q4_cash_interest
/operating_model/cells/base_2026q4_cash_interest:base/kindNoneassumption
/operating_model/cells/base_2026q4_cash_interest:base/labelNoneCash debt interest
/operating_model/cells/base_2026q4_cash_interest:base/periodNone2026Q4
/operating_model/cells/base_2026q4_cash_interest:base/unitNoneUSD_millions
/operating_model/cells/base_2026q4_cash_interest:base/valueNone0.2
/operating_model/cells/base_2026q4_cash_interest_income:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2026q4_cash_interest_income:base/caseNonebase
/operating_model/cells/base_2026q4_cash_interest_income:base/idNonebase_2026q4_cash_interest_income
/operating_model/cells/base_2026q4_cash_interest_income:base/kindNoneassumption
/operating_model/cells/base_2026q4_cash_interest_income:base/labelNoneCash interest income
/operating_model/cells/base_2026q4_cash_interest_income:base/periodNone2026Q4
/operating_model/cells/base_2026q4_cash_interest_income:base/unitNoneUSD_millions
/operating_model/cells/base_2026q4_cash_interest_income:base/valueNone2.0
/operating_model/cells/base_2026q4_cash_opex:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2026q4_cash_opex:base/caseNonebase
/operating_model/cells/base_2026q4_cash_opex:base/idNonebase_2026q4_cash_opex
/operating_model/cells/base_2026q4_cash_opex:base/kindNoneassumption
/operating_model/cells/base_2026q4_cash_opex:base/labelNoneCash corporate R&D and selling expense
/operating_model/cells/base_2026q4_cash_opex:base/periodNone2026Q4
/operating_model/cells/base_2026q4_cash_opex:base/unitNoneUSD_millions
/operating_model/cells/base_2026q4_cash_opex:base/valueNone13.1
/operating_model/cells/base_2026q4_cash_tax:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2026q4_cash_tax:base/caseNonebase
/operating_model/cells/base_2026q4_cash_tax:base/idNonebase_2026q4_cash_tax
/operating_model/cells/base_2026q4_cash_tax:base/kindNoneassumption
/operating_model/cells/base_2026q4_cash_tax:base/labelNoneCash tax
/operating_model/cells/base_2026q4_cash_tax:base/periodNone2026Q4
/operating_model/cells/base_2026q4_cash_tax:base/unitNoneUSD_millions
/operating_model/cells/base_2026q4_cash_tax:base/valueNone2.5
/operating_model/cells/base_2026q4_cash_uses:base/basisNoneProject input prepayments are shown separately in strategic cash.
/operating_model/cells/base_2026q4_cash_uses:base/caseNonebase
/operating_model/cells/base_2026q4_cash_uses:base/formula/opNonesum
/operating_model/cells/base_2026q4_cash_uses:base/formula/refs/0Nonebase_2026q4_cash_tax
/operating_model/cells/base_2026q4_cash_uses:base/formula/refs/1Nonebase_2026q4_cash_interest
/operating_model/cells/base_2026q4_cash_uses:base/formula/refs/2Nonebase_2026q4_inventory_other_cash
/operating_model/cells/base_2026q4_cash_uses:base/formula/refs/3Nonebase_2026q4_pass_inventory_cash
/operating_model/cells/base_2026q4_cash_uses:base/idNonebase_2026q4_cash_uses
/operating_model/cells/base_2026q4_cash_uses:base/kindNonederived
/operating_model/cells/base_2026q4_cash_uses:base/labelNoneTax interest and working capital
/operating_model/cells/base_2026q4_cash_uses:base/periodNone2026Q4
/operating_model/cells/base_2026q4_cash_uses:base/unitNoneUSD_millions
/operating_model/cells/base_2026q4_cash_uses:base/valueNone25.7
/operating_model/cells/base_2026q4_cfo:base/basisNoneNo current-period preferred cash dividend.
/operating_model/cells/base_2026q4_cfo:base/caseNonebase
/operating_model/cells/base_2026q4_cfo:base/formula/opNonesubtract
/operating_model/cells/base_2026q4_cfo:base/formula/refs/0Nonebase_2026q4_operating_cash_earnings
/operating_model/cells/base_2026q4_cfo:base/formula/refs/1Nonebase_2026q4_cash_uses
/operating_model/cells/base_2026q4_cfo:base/idNonebase_2026q4_cfo
/operating_model/cells/base_2026q4_cfo:base/kindNonederived
/operating_model/cells/base_2026q4_cfo:base/labelNoneOperating cash flow proxy
/operating_model/cells/base_2026q4_cfo:base/periodNone2026Q4
/operating_model/cells/base_2026q4_cfo:base/unitNoneUSD_millions
/operating_model/cells/base_2026q4_cfo:base/valueNone-18.539725
/operating_model/cells/base_2026q4_core_margin:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2026q4_core_margin:base/caseNonebase
/operating_model/cells/base_2026q4_core_margin:base/idNonebase_2026q4_core_margin
/operating_model/cells/base_2026q4_core_margin:base/kindNoneassumption
/operating_model/cells/base_2026q4_core_margin:base/labelNoneCore gross margin
/operating_model/cells/base_2026q4_core_margin:base/periodNone2026Q4
/operating_model/cells/base_2026q4_core_margin:base/unitNoneratio
/operating_model/cells/base_2026q4_core_margin:base/valueNone0.25
/operating_model/cells/base_2026q4_core_revenue:base/basisNoneCurrent manufacturing and conditional acquired operations; stockpile is separate.
/operating_model/cells/base_2026q4_core_revenue:base/caseNonebase
/operating_model/cells/base_2026q4_core_revenue:base/formula/opNonesum
/operating_model/cells/base_2026q4_core_revenue:base/formula/refs/0Nonebase_2026q4_legacy_demand
/operating_model/cells/base_2026q4_core_revenue:base/formula/refs/1Nonebase_2026q4_metal_pass
/operating_model/cells/base_2026q4_core_revenue:base/formula/refs/2Nonebase_2026q4_german_revenue
/operating_model/cells/base_2026q4_core_revenue:base/idNonebase_2026q4_core_revenue
/operating_model/cells/base_2026q4_core_revenue:base/kindNonederived
/operating_model/cells/base_2026q4_core_revenue:base/labelNoneCore and acquired revenue
/operating_model/cells/base_2026q4_core_revenue:base/periodNone2026Q4
/operating_model/cells/base_2026q4_core_revenue:base/unitNoneUSD_millions
/operating_model/cells/base_2026q4_core_revenue:base/valueNone83.0411
/operating_model/cells/base_2026q4_da:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2026q4_da:base/caseNonebase
/operating_model/cells/base_2026q4_da:base/idNonebase_2026q4_da
/operating_model/cells/base_2026q4_da:base/kindNoneassumption
/operating_model/cells/base_2026q4_da:base/labelNoneOperating D&A
/operating_model/cells/base_2026q4_da:base/periodNone2026Q4
/operating_model/cells/base_2026q4_da:base/unitNoneUSD_millions
/operating_model/cells/base_2026q4_da:base/valueNone2.5
/operating_model/cells/base_2026q4_demand_index:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2026q4_demand_index:base/caseNonebase
/operating_model/cells/base_2026q4_demand_index:base/idNonebase_2026q4_demand_index
/operating_model/cells/base_2026q4_demand_index:base/kindNoneassumption
/operating_model/cells/base_2026q4_demand_index:base/labelNoneNet volume and mix versus Q2
/operating_model/cells/base_2026q4_demand_index:base/periodNone2026Q4
/operating_model/cells/base_2026q4_demand_index:base/unitNoneratio
/operating_model/cells/base_2026q4_demand_index:base/valueNone1.1
/operating_model/cells/base_2026q4_eur_usd:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2026q4_eur_usd:base/caseNonebase
/operating_model/cells/base_2026q4_eur_usd:base/idNonebase_2026q4_eur_usd
/operating_model/cells/base_2026q4_eur_usd:base/kindNoneassumption
/operating_model/cells/base_2026q4_eur_usd:base/labelNoneUSD per EUR conversion
/operating_model/cells/base_2026q4_eur_usd:base/periodNone2026Q4
/operating_model/cells/base_2026q4_eur_usd:base/unitNoneratio
/operating_model/cells/base_2026q4_eur_usd:base/valueNone1.1
/operating_model/cells/base_2026q4_funding_weight:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2026q4_funding_weight:base/caseNonebase
/operating_model/cells/base_2026q4_funding_weight:base/idNonebase_2026q4_funding_weight
/operating_model/cells/base_2026q4_funding_weight:base/kindNoneassumption
/operating_model/cells/base_2026q4_funding_weight:base/labelNoneNew funding quarter weight
/operating_model/cells/base_2026q4_funding_weight:base/periodNone2026Q4
/operating_model/cells/base_2026q4_funding_weight:base/unitNoneratio
/operating_model/cells/base_2026q4_funding_weight:base/valueNone0.25
/operating_model/cells/base_2026q4_german_eur_amount:base/basisNoneDesk working capital and net pension assumptions in contractual price formula; signed amount can be negative.
/operating_model/cells/base_2026q4_german_eur_amount:base/caseNonebase
/operating_model/cells/base_2026q4_german_eur_amount:base/idNonebase_2026q4_german_eur_amount
/operating_model/cells/base_2026q4_german_eur_amount:base/kindNoneassumption
/operating_model/cells/base_2026q4_german_eur_amount:base/labelNoneGerman net price sensitivity, EUR millions represented at 1:1 before FX
/operating_model/cells/base_2026q4_german_eur_amount:base/periodNone2026Q4
/operating_model/cells/base_2026q4_german_eur_amount:base/unitNoneUSD_millions
/operating_model/cells/base_2026q4_german_eur_amount:base/valueNone0.0
/operating_model/cells/base_2026q4_german_gross:base/basisNoneUnverified post-close margin.
/operating_model/cells/base_2026q4_german_gross:base/caseNonebase
/operating_model/cells/base_2026q4_german_gross:base/formula/opNonemultiply
/operating_model/cells/base_2026q4_german_gross:base/formula/refs/0Nonebase_2026q4_german_revenue
/operating_model/cells/base_2026q4_german_gross:base/formula/refs/1Nonebase_2026q4_german_margin
/operating_model/cells/base_2026q4_german_gross:base/idNonebase_2026q4_german_gross
/operating_model/cells/base_2026q4_german_gross:base/kindNonederived
/operating_model/cells/base_2026q4_german_gross:base/labelNoneGerman gross contribution
/operating_model/cells/base_2026q4_german_gross:base/periodNone2026Q4
/operating_model/cells/base_2026q4_german_gross:base/unitNoneUSD_millions
/operating_model/cells/base_2026q4_german_gross:base/valueNone0.0
/operating_model/cells/base_2026q4_german_margin:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2026q4_german_margin:base/caseNonebase
/operating_model/cells/base_2026q4_german_margin:base/idNonebase_2026q4_german_margin
/operating_model/cells/base_2026q4_german_margin:base/kindNoneassumption
/operating_model/cells/base_2026q4_german_margin:base/labelNoneAcquired gross margin
/operating_model/cells/base_2026q4_german_margin:base/periodNone2026Q4
/operating_model/cells/base_2026q4_german_margin:base/unitNoneratio
/operating_model/cells/base_2026q4_german_margin:base/valueNone0.18
/operating_model/cells/base_2026q4_german_price:base/basisNoneScenario only; metal inventory and pension measurement can materially change final consideration.
/operating_model/cells/base_2026q4_german_price:base/caseNonebase
/operating_model/cells/base_2026q4_german_price:base/formula/opNonemultiply
/operating_model/cells/base_2026q4_german_price:base/formula/refs/0Nonebase_2026q4_german_eur_amount
/operating_model/cells/base_2026q4_german_price:base/formula/refs/1Nonebase_2026q4_eur_usd
/operating_model/cells/base_2026q4_german_price:base/idNonebase_2026q4_german_price
/operating_model/cells/base_2026q4_german_price:base/kindNonederived
/operating_model/cells/base_2026q4_german_price:base/labelNoneConditional German closing cash in USD
/operating_model/cells/base_2026q4_german_price:base/periodNone2026Q4
/operating_model/cells/base_2026q4_german_price:base/unitNoneUSD_millions
/operating_model/cells/base_2026q4_german_price:base/valueNone0.0
/operating_model/cells/base_2026q4_german_revenue:base/basisNoneDesk acquired-period contribution only after assumed closing; transaction remains conditional.
/operating_model/cells/base_2026q4_german_revenue:base/caseNonebase
/operating_model/cells/base_2026q4_german_revenue:base/idNonebase_2026q4_german_revenue
/operating_model/cells/base_2026q4_german_revenue:base/kindNoneassumption
/operating_model/cells/base_2026q4_german_revenue:base/labelNoneConditional acquired German revenue
/operating_model/cells/base_2026q4_german_revenue:base/periodNone2026Q4
/operating_model/cells/base_2026q4_german_revenue:base/unitNoneUSD_millions
/operating_model/cells/base_2026q4_german_revenue:base/valueNone0.0
/operating_model/cells/base_2026q4_gross_profit:base/basisNoneCompany forecasts are not supplied for the new program.
/operating_model/cells/base_2026q4_gross_profit:base/caseNonebase
/operating_model/cells/base_2026q4_gross_profit:base/formula/opNonesum
/operating_model/cells/base_2026q4_gross_profit:base/formula/refs/0Nonebase_2026q4_legacy_gross
/operating_model/cells/base_2026q4_gross_profit:base/formula/refs/1Nonebase_2026q4_price_gross
/operating_model/cells/base_2026q4_gross_profit:base/formula/refs/2Nonebase_2026q4_german_gross
/operating_model/cells/base_2026q4_gross_profit:base/formula/refs/3Nonebase_2026q4_stockpile_gross
/operating_model/cells/base_2026q4_gross_profit:base/idNonebase_2026q4_gross_profit
/operating_model/cells/base_2026q4_gross_profit:base/kindNonederived
/operating_model/cells/base_2026q4_gross_profit:base/labelNoneGross profit proxy
/operating_model/cells/base_2026q4_gross_profit:base/periodNone2026Q4
/operating_model/cells/base_2026q4_gross_profit:base/unitNoneUSD_millions
/operating_model/cells/base_2026q4_gross_profit:base/valueNone18.260275
/operating_model/cells/base_2026q4_inventory_other_cash:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2026q4_inventory_other_cash:base/caseNonebase
/operating_model/cells/base_2026q4_inventory_other_cash:base/idNonebase_2026q4_inventory_other_cash
/operating_model/cells/base_2026q4_inventory_other_cash:base/kindNoneassumption
/operating_model/cells/base_2026q4_inventory_other_cash:base/labelNoneInventory and other working-capital use
/operating_model/cells/base_2026q4_inventory_other_cash:base/periodNone2026Q4
/operating_model/cells/base_2026q4_inventory_other_cash:base/unitNoneUSD_millions
/operating_model/cells/base_2026q4_inventory_other_cash:base/valueNone18.0
/operating_model/cells/base_2026q4_inventory_price_fraction:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2026q4_inventory_price_fraction:base/caseNonebase
/operating_model/cells/base_2026q4_inventory_price_fraction:base/idNonebase_2026q4_inventory_price_fraction
/operating_model/cells/base_2026q4_inventory_price_fraction:base/kindNoneassumption
/operating_model/cells/base_2026q4_inventory_price_fraction:base/labelNonePrice-related inventory funding share
/operating_model/cells/base_2026q4_inventory_price_fraction:base/periodNone2026Q4
/operating_model/cells/base_2026q4_inventory_price_fraction:base/unitNoneratio
/operating_model/cells/base_2026q4_inventory_price_fraction:base/valueNone0.5
/operating_model/cells/base_2026q4_legacy_demand:base/basisNoneDemand separated from incremental metal-price pass-through.
/operating_model/cells/base_2026q4_legacy_demand:base/caseNonebase
/operating_model/cells/base_2026q4_legacy_demand:base/formula/opNonemultiply
/operating_model/cells/base_2026q4_legacy_demand:base/formula/refs/0Noneq2_revenue
/operating_model/cells/base_2026q4_legacy_demand:base/formula/refs/1Nonebase_2026q4_demand_index
/operating_model/cells/base_2026q4_legacy_demand:base/idNonebase_2026q4_legacy_demand
/operating_model/cells/base_2026q4_legacy_demand:base/kindNonederived
/operating_model/cells/base_2026q4_legacy_demand:base/labelNoneLegacy revenue at reference metal prices
/operating_model/cells/base_2026q4_legacy_demand:base/periodNone2026Q4
/operating_model/cells/base_2026q4_legacy_demand:base/unitNoneUSD_millions
/operating_model/cells/base_2026q4_legacy_demand:base/valueNone73.0411
/operating_model/cells/base_2026q4_legacy_gross:base/basisNoneIndependent operating-margin scenario.
/operating_model/cells/base_2026q4_legacy_gross:base/caseNonebase
/operating_model/cells/base_2026q4_legacy_gross:base/formula/opNonemultiply
/operating_model/cells/base_2026q4_legacy_gross:base/formula/refs/0Nonebase_2026q4_legacy_demand
/operating_model/cells/base_2026q4_legacy_gross:base/formula/refs/1Nonebase_2026q4_core_margin
/operating_model/cells/base_2026q4_legacy_gross:base/idNonebase_2026q4_legacy_gross
/operating_model/cells/base_2026q4_legacy_gross:base/kindNonederived
/operating_model/cells/base_2026q4_legacy_gross:base/labelNoneLegacy gross profit
/operating_model/cells/base_2026q4_legacy_gross:base/periodNone2026Q4
/operating_model/cells/base_2026q4_legacy_gross:base/unitNoneUSD_millions
/operating_model/cells/base_2026q4_legacy_gross:base/valueNone18.260275
/operating_model/cells/base_2026q4_metal_cost:base/basisNoneAt 100% pass-through, higher commodity prices do not create gross profit.
/operating_model/cells/base_2026q4_metal_cost:base/caseNonebase
/operating_model/cells/base_2026q4_metal_cost:base/formula/opNonemultiply
/operating_model/cells/base_2026q4_metal_cost:base/formula/refs/0Nonebase_2026q4_metal_pass
/operating_model/cells/base_2026q4_metal_cost:base/formula/refs/1Nonebase_2026q4_pass_cost_ratio
/operating_model/cells/base_2026q4_metal_cost:base/idNonebase_2026q4_metal_cost
/operating_model/cells/base_2026q4_metal_cost:base/kindNonederived
/operating_model/cells/base_2026q4_metal_cost:base/labelNoneMatched input price cost
/operating_model/cells/base_2026q4_metal_cost:base/periodNone2026Q4
/operating_model/cells/base_2026q4_metal_cost:base/unitNoneUSD_millions
/operating_model/cells/base_2026q4_metal_cost:base/valueNone10.0
/operating_model/cells/base_2026q4_metal_pass:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2026q4_metal_pass:base/caseNonebase
/operating_model/cells/base_2026q4_metal_pass:base/idNonebase_2026q4_metal_pass
/operating_model/cells/base_2026q4_metal_pass:base/kindNoneassumption
/operating_model/cells/base_2026q4_metal_pass:base/labelNoneIncremental raw-material price pass-through
/operating_model/cells/base_2026q4_metal_pass:base/periodNone2026Q4
/operating_model/cells/base_2026q4_metal_pass:base/unitNoneUSD_millions
/operating_model/cells/base_2026q4_metal_pass:base/valueNone10.0
/operating_model/cells/base_2026q4_new_pik_basis:base/basisNoneInitial 19-day approximate accrual; later tranches assumed late-quarter.
/operating_model/cells/base_2026q4_new_pik_basis:base/caseNonebase
/operating_model/cells/base_2026q4_new_pik_basis:base/formula/opNonemultiply
/operating_model/cells/base_2026q4_new_pik_basis:base/formula/refs/0Nonebase_2026q4_preferred_funding
/operating_model/cells/base_2026q4_new_pik_basis:base/formula/refs/1Nonebase_2026q4_funding_weight
/operating_model/cells/base_2026q4_new_pik_basis:base/idNonebase_2026q4_new_pik_basis
/operating_model/cells/base_2026q4_new_pik_basis:base/kindNonederived
/operating_model/cells/base_2026q4_new_pik_basis:base/labelNoneNew funding weighted for partial quarter
/operating_model/cells/base_2026q4_new_pik_basis:base/periodNone2026Q4
/operating_model/cells/base_2026q4_new_pik_basis:base/unitNoneUSD_millions
/operating_model/cells/base_2026q4_new_pik_basis:base/valueNone0.0
/operating_model/cells/base_2026q4_operating_cash_earnings:base/basisNoneNo debt forgiveness or financing gain.
/operating_model/cells/base_2026q4_operating_cash_earnings:base/caseNonebase
/operating_model/cells/base_2026q4_operating_cash_earnings:base/formula/opNonesum
/operating_model/cells/base_2026q4_operating_cash_earnings:base/formula/refs/0Nonebase_2026q4_operating_income
/operating_model/cells/base_2026q4_operating_cash_earnings:base/formula/refs/1Nonebase_2026q4_sbc
/operating_model/cells/base_2026q4_operating_cash_earnings:base/formula/refs/2Nonebase_2026q4_da
/operating_model/cells/base_2026q4_operating_cash_earnings:base/formula/refs/3Nonebase_2026q4_cash_interest_income
/operating_model/cells/base_2026q4_operating_cash_earnings:base/idNonebase_2026q4_operating_cash_earnings
/operating_model/cells/base_2026q4_operating_cash_earnings:base/kindNonederived
/operating_model/cells/base_2026q4_operating_cash_earnings:base/labelNoneOperating earnings plus noncash and interest
/operating_model/cells/base_2026q4_operating_cash_earnings:base/periodNone2026Q4
/operating_model/cells/base_2026q4_operating_cash_earnings:base/unitNoneUSD_millions
/operating_model/cells/base_2026q4_operating_cash_earnings:base/valueNone7.1602749999999995
/operating_model/cells/base_2026q4_operating_income:base/basisNonePreferred PIK is below operating economics, not operating expense.
/operating_model/cells/base_2026q4_operating_income:base/caseNonebase
/operating_model/cells/base_2026q4_operating_income:base/formula/opNonesubtract
/operating_model/cells/base_2026q4_operating_income:base/formula/refs/0Nonebase_2026q4_gross_profit
/operating_model/cells/base_2026q4_operating_income:base/formula/refs/1Nonebase_2026q4_opex
/operating_model/cells/base_2026q4_operating_income:base/idNonebase_2026q4_operating_income
/operating_model/cells/base_2026q4_operating_income:base/kindNonederived
/operating_model/cells/base_2026q4_operating_income:base/labelNoneOperating income proxy
/operating_model/cells/base_2026q4_operating_income:base/periodNone2026Q4
/operating_model/cells/base_2026q4_operating_income:base/unitNoneUSD_millions
/operating_model/cells/base_2026q4_operating_income:base/valueNone0.4602749999999993
/operating_model/cells/base_2026q4_opex:base/basisNoneNo repeat of H1 IPO SBC as if recurring every quarter.
/operating_model/cells/base_2026q4_opex:base/caseNonebase
/operating_model/cells/base_2026q4_opex:base/formula/opNonesum
/operating_model/cells/base_2026q4_opex:base/formula/refs/0Nonebase_2026q4_cash_opex
/operating_model/cells/base_2026q4_opex:base/formula/refs/1Nonebase_2026q4_sbc
/operating_model/cells/base_2026q4_opex:base/formula/refs/2Nonebase_2026q4_da
/operating_model/cells/base_2026q4_opex:base/formula/refs/3Nonebase_2026q4_cash_bonus
/operating_model/cells/base_2026q4_opex:base/idNonebase_2026q4_opex
/operating_model/cells/base_2026q4_opex:base/kindNonederived
/operating_model/cells/base_2026q4_opex:base/labelNoneCash overhead SBC and D&A
/operating_model/cells/base_2026q4_opex:base/periodNone2026Q4
/operating_model/cells/base_2026q4_opex:base/unitNoneUSD_millions
/operating_model/cells/base_2026q4_opex:base/valueNone17.8
/operating_model/cells/base_2026q4_pass_cost_ratio:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2026q4_pass_cost_ratio:base/caseNonebase
/operating_model/cells/base_2026q4_pass_cost_ratio:base/idNonebase_2026q4_pass_cost_ratio
/operating_model/cells/base_2026q4_pass_cost_ratio:base/kindNoneassumption
/operating_model/cells/base_2026q4_pass_cost_ratio:base/labelNoneInput-cost share of pass-through
/operating_model/cells/base_2026q4_pass_cost_ratio:base/periodNone2026Q4
/operating_model/cells/base_2026q4_pass_cost_ratio:base/unitNoneratio
/operating_model/cells/base_2026q4_pass_cost_ratio:base/valueNone1.0
/operating_model/cells/base_2026q4_pass_inventory_cash:base/basisNoneCommodity inflation can tie up cash despite matched gross profit.
/operating_model/cells/base_2026q4_pass_inventory_cash:base/caseNonebase
/operating_model/cells/base_2026q4_pass_inventory_cash:base/formula/opNonemultiply
/operating_model/cells/base_2026q4_pass_inventory_cash:base/formula/refs/0Nonebase_2026q4_metal_pass
/operating_model/cells/base_2026q4_pass_inventory_cash:base/formula/refs/1Nonebase_2026q4_inventory_price_fraction
/operating_model/cells/base_2026q4_pass_inventory_cash:base/idNonebase_2026q4_pass_inventory_cash
/operating_model/cells/base_2026q4_pass_inventory_cash:base/kindNonederived
/operating_model/cells/base_2026q4_pass_inventory_cash:base/labelNoneAdditional price-related inventory funding
/operating_model/cells/base_2026q4_pass_inventory_cash:base/periodNone2026Q4
/operating_model/cells/base_2026q4_pass_inventory_cash:base/unitNoneUSD_millions
/operating_model/cells/base_2026q4_pass_inventory_cash:base/valueNone5.0
/operating_model/cells/base_2026q4_pik_basis:base/basisNoneExisting balance includes prior PIK compounding.
/operating_model/cells/base_2026q4_pik_basis:base/caseNonebase
/operating_model/cells/base_2026q4_pik_basis:base/formula/opNonesum
/operating_model/cells/base_2026q4_pik_basis:base/formula/refs/0Nonebase_2026q3_preferred_ending
/operating_model/cells/base_2026q4_pik_basis:base/formula/refs/1Nonebase_2026q4_new_pik_basis
/operating_model/cells/base_2026q4_pik_basis:base/idNonebase_2026q4_pik_basis
/operating_model/cells/base_2026q4_pik_basis:base/kindNonederived
/operating_model/cells/base_2026q4_pik_basis:base/labelNoneWeighted preferred claim for PIK
/operating_model/cells/base_2026q4_pik_basis:base/periodNone2026Q4
/operating_model/cells/base_2026q4_pik_basis:base/unitNoneUSD_millions
/operating_model/cells/base_2026q4_pik_basis:base/valueNone200.57417582417582
/operating_model/cells/base_2026q4_preferred_ending:base/basisNoneStock balance, not an annual flow; ignores warrant-linked liquidation preference reductions.
/operating_model/cells/base_2026q4_preferred_ending:base/caseNonebase
/operating_model/cells/base_2026q4_preferred_ending:base/formula/opNonesum
/operating_model/cells/base_2026q4_preferred_ending:base/formula/refs/0Nonebase_2026q3_preferred_ending
/operating_model/cells/base_2026q4_preferred_ending:base/formula/refs/1Nonebase_2026q4_preferred_funding
/operating_model/cells/base_2026q4_preferred_ending:base/formula/refs/2Nonebase_2026q4_preferred_pik
/operating_model/cells/base_2026q4_preferred_ending:base/idNonebase_2026q4_preferred_ending
/operating_model/cells/base_2026q4_preferred_ending:base/kindNonederived
/operating_model/cells/base_2026q4_preferred_ending:base/labelNoneEnding preferred claim before warrant adjustments
/operating_model/cells/base_2026q4_preferred_ending:base/periodNone2026Q4
/operating_model/cells/base_2026q4_preferred_ending:base/unitNoneUSD_millions
/operating_model/cells/base_2026q4_preferred_ending:base/valueNone203.33207074175823
/operating_model/cells/base_2026q4_preferred_funding:base/basisNoneInitial $200M received September 14; any later $50M receipt is conditional and respects six-month tranche availability.
/operating_model/cells/base_2026q4_preferred_funding:base/caseNonebase
/operating_model/cells/base_2026q4_preferred_funding:base/idNonebase_2026q4_preferred_funding
/operating_model/cells/base_2026q4_preferred_funding:base/kindNoneassumption
/operating_model/cells/base_2026q4_preferred_funding:base/labelNonePreferred financing receipts
/operating_model/cells/base_2026q4_preferred_funding:base/periodNone2026Q4
/operating_model/cells/base_2026q4_preferred_funding:base/unitNoneUSD_millions
/operating_model/cells/base_2026q4_preferred_funding:base/valueNone0.0
/operating_model/cells/base_2026q4_preferred_pik:base/basisNoneNoncash senior claim; no deduction from current-period cash.
/operating_model/cells/base_2026q4_preferred_pik:base/caseNonebase
/operating_model/cells/base_2026q4_preferred_pik:base/formula/opNonemultiply
/operating_model/cells/base_2026q4_preferred_pik:base/formula/refs/0Nonebase_2026q4_pik_basis
/operating_model/cells/base_2026q4_preferred_pik:base/formula/refs/1Nonepreferred_rate
/operating_model/cells/base_2026q4_preferred_pik:base/formula/refs/2Nonebase_2026q4_quarter_year
/operating_model/cells/base_2026q4_preferred_pik:base/idNonebase_2026q4_preferred_pik
/operating_model/cells/base_2026q4_preferred_pik:base/kindNonederived
/operating_model/cells/base_2026q4_preferred_pik:base/labelNonePreferred economic PIK accrual
/operating_model/cells/base_2026q4_preferred_pik:base/periodNone2026Q4
/operating_model/cells/base_2026q4_preferred_pik:base/unitNoneUSD_millions
/operating_model/cells/base_2026q4_preferred_pik:base/valueNone2.7578949175824174
/operating_model/cells/base_2026q4_price_gross:base/basisNoneMismatch sensitivity is explicit.
/operating_model/cells/base_2026q4_price_gross:base/caseNonebase
/operating_model/cells/base_2026q4_price_gross:base/formula/opNonesubtract
/operating_model/cells/base_2026q4_price_gross:base/formula/refs/0Nonebase_2026q4_metal_pass
/operating_model/cells/base_2026q4_price_gross:base/formula/refs/1Nonebase_2026q4_metal_cost
/operating_model/cells/base_2026q4_price_gross:base/idNonebase_2026q4_price_gross
/operating_model/cells/base_2026q4_price_gross:base/kindNonederived
/operating_model/cells/base_2026q4_price_gross:base/labelNoneIncremental price pass-through gross profit
/operating_model/cells/base_2026q4_price_gross:base/periodNone2026Q4
/operating_model/cells/base_2026q4_price_gross:base/unitNoneUSD_millions
/operating_model/cells/base_2026q4_price_gross:base/valueNone0.0
/operating_model/cells/base_2026q4_quarter_year:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2026q4_quarter_year:base/caseNonebase
/operating_model/cells/base_2026q4_quarter_year:base/idNonebase_2026q4_quarter_year
/operating_model/cells/base_2026q4_quarter_year:base/kindNoneassumption
/operating_model/cells/base_2026q4_quarter_year:base/labelNoneQuarter-year fraction
/operating_model/cells/base_2026q4_quarter_year:base/periodNone2026Q4
/operating_model/cells/base_2026q4_quarter_year:base/unitNoneratio
/operating_model/cells/base_2026q4_quarter_year:base/valueNone0.25
/operating_model/cells/base_2026q4_raw_prepay:base/basisNoneDesk first and milestone-conditioned second $25M funding; later negative amounts are consumption/settlement credits, not new revenue.
/operating_model/cells/base_2026q4_raw_prepay:base/caseNonebase
/operating_model/cells/base_2026q4_raw_prepay:base/idNonebase_2026q4_raw_prepay
/operating_model/cells/base_2026q4_raw_prepay:base/kindNoneassumption
/operating_model/cells/base_2026q4_raw_prepay:base/labelNoneNet new raw-material prepayments
/operating_model/cells/base_2026q4_raw_prepay:base/periodNone2026Q4
/operating_model/cells/base_2026q4_raw_prepay:base/unitNoneUSD_millions
/operating_model/cells/base_2026q4_raw_prepay:base/valueNone25.0
/operating_model/cells/base_2026q4_revenue:base/basisNoneNo recognition of preferred funding as revenue.
/operating_model/cells/base_2026q4_revenue:base/caseNonebase
/operating_model/cells/base_2026q4_revenue:base/formula/opNonesum
/operating_model/cells/base_2026q4_revenue:base/formula/refs/0Nonebase_2026q4_core_revenue
/operating_model/cells/base_2026q4_revenue:base/formula/refs/1Nonebase_2026q4_stockpile_revenue
/operating_model/cells/base_2026q4_revenue:base/idNonebase_2026q4_revenue
/operating_model/cells/base_2026q4_revenue:base/kindNonederived
/operating_model/cells/base_2026q4_revenue:base/labelNoneTotal revenue
/operating_model/cells/base_2026q4_revenue:base/periodNone2026Q4
/operating_model/cells/base_2026q4_revenue:base/unitNoneUSD_millions
/operating_model/cells/base_2026q4_revenue:base/valueNone83.0411
/operating_model/cells/base_2026q4_sbc:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2026q4_sbc:base/caseNonebase
/operating_model/cells/base_2026q4_sbc:base/idNonebase_2026q4_sbc
/operating_model/cells/base_2026q4_sbc:base/kindNoneassumption
/operating_model/cells/base_2026q4_sbc:base/labelNoneSBC
/operating_model/cells/base_2026q4_sbc:base/periodNone2026Q4
/operating_model/cells/base_2026q4_sbc:base/unitNoneUSD_millions
/operating_model/cells/base_2026q4_sbc:base/valueNone2.2
/operating_model/cells/base_2026q4_stock_margin:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2026q4_stock_margin:base/caseNonebase
/operating_model/cells/base_2026q4_stock_margin:base/idNonebase_2026q4_stock_margin
/operating_model/cells/base_2026q4_stock_margin:base/kindNoneassumption
/operating_model/cells/base_2026q4_stock_margin:base/labelNoneStockpile gross margin
/operating_model/cells/base_2026q4_stock_margin:base/periodNone2026Q4
/operating_model/cells/base_2026q4_stock_margin:base/unitNoneratio
/operating_model/cells/base_2026q4_stock_margin:base/valueNone0.12
/operating_model/cells/base_2026q4_stockpile_gross:base/basisNoneProcured input cost is reflected in margin; no unsupported floor-price assumption.
/operating_model/cells/base_2026q4_stockpile_gross:base/caseNonebase
/operating_model/cells/base_2026q4_stockpile_gross:base/formula/opNonemultiply
/operating_model/cells/base_2026q4_stockpile_gross:base/formula/refs/0Nonebase_2026q4_stockpile_revenue
/operating_model/cells/base_2026q4_stockpile_gross:base/formula/refs/1Nonebase_2026q4_stock_margin
/operating_model/cells/base_2026q4_stockpile_gross:base/idNonebase_2026q4_stockpile_gross
/operating_model/cells/base_2026q4_stockpile_gross:base/kindNonederived
/operating_model/cells/base_2026q4_stockpile_gross:base/labelNoneStockpile gross contribution
/operating_model/cells/base_2026q4_stockpile_gross:base/periodNone2026Q4
/operating_model/cells/base_2026q4_stockpile_gross:base/unitNoneUSD_millions
/operating_model/cells/base_2026q4_stockpile_gross:base/valueNone0.0
/operating_model/cells/base_2026q4_stockpile_revenue:base/basisNoneSupply-qualified delivery assumption, not pro-rata recognition of the contract ceiling or minimum.
/operating_model/cells/base_2026q4_stockpile_revenue:base/caseNonebase
/operating_model/cells/base_2026q4_stockpile_revenue:base/idNonebase_2026q4_stockpile_revenue
/operating_model/cells/base_2026q4_stockpile_revenue:base/kindNoneassumption
/operating_model/cells/base_2026q4_stockpile_revenue:base/labelNoneAccepted incremental stockpile deliveries
/operating_model/cells/base_2026q4_stockpile_revenue:base/periodNone2026Q4
/operating_model/cells/base_2026q4_stockpile_revenue:base/unitNoneUSD_millions
/operating_model/cells/base_2026q4_stockpile_revenue:base/valueNone0.0
/operating_model/cells/base_2026q4_strategic_cash:base/basisNonePrepaid input consumption cash credits avoid charging both historical prepayment and subsequent COGS cash without adjustment.
/operating_model/cells/base_2026q4_strategic_cash:base/caseNonebase
/operating_model/cells/base_2026q4_strategic_cash:base/formula/opNonesum
/operating_model/cells/base_2026q4_strategic_cash:base/formula/refs/0Nonebase_2026q4_blue_moon
/operating_model/cells/base_2026q4_strategic_cash:base/formula/refs/1Nonebase_2026q4_raw_prepay
/operating_model/cells/base_2026q4_strategic_cash:base/formula/refs/2Nonebase_2026q4_german_price
/operating_model/cells/base_2026q4_strategic_cash:base/idNonebase_2026q4_strategic_cash
/operating_model/cells/base_2026q4_strategic_cash:base/kindNonederived
/operating_model/cells/base_2026q4_strategic_cash:base/labelNoneMinority prepayment and acquisition cash
/operating_model/cells/base_2026q4_strategic_cash:base/periodNone2026Q4
/operating_model/cells/base_2026q4_strategic_cash:base/unitNoneUSD_millions
/operating_model/cells/base_2026q4_strategic_cash:base/valueNone50.55
/operating_model/cells/base_2027q1_blue_moon:base/basisNoneNo consolidated Blue Moon sales or market-value gains.
/operating_model/cells/base_2027q1_blue_moon:base/caseNonebase
/operating_model/cells/base_2027q1_blue_moon:base/formula/opNonemultiply
/operating_model/cells/base_2027q1_blue_moon:base/formula/refs/0Nonebase_2027q1_cad_commitment
/operating_model/cells/base_2027q1_blue_moon:base/formula/refs/1Nonebase_2027q1_cad_usd
/operating_model/cells/base_2027q1_blue_moon:base/idNonebase_2027q1_blue_moon
/operating_model/cells/base_2027q1_blue_moon:base/kindNonederived
/operating_model/cells/base_2027q1_blue_moon:base/labelNoneBlue Moon minority investment cash
/operating_model/cells/base_2027q1_blue_moon:base/periodNone2027Q1
/operating_model/cells/base_2027q1_blue_moon:base/unitNoneUSD_millions
/operating_model/cells/base_2027q1_blue_moon:base/valueNone0.0
/operating_model/cells/base_2027q1_business_investment:base/basisNoneNo initial government receipt netted into capex.
/operating_model/cells/base_2027q1_business_investment:base/caseNonebase
/operating_model/cells/base_2027q1_business_investment:base/formula/opNonesum
/operating_model/cells/base_2027q1_business_investment:base/formula/refs/0Nonebase_2027q1_capex
/operating_model/cells/base_2027q1_business_investment:base/formula/refs/1Nonebase_2027q1_strategic_cash
/operating_model/cells/base_2027q1_business_investment:base/idNonebase_2027q1_business_investment
/operating_model/cells/base_2027q1_business_investment:base/kindNonederived
/operating_model/cells/base_2027q1_business_investment:base/labelNonePP&E and strategic deployment
/operating_model/cells/base_2027q1_business_investment:base/periodNone2027Q1
/operating_model/cells/base_2027q1_business_investment:base/unitNoneUSD_millions
/operating_model/cells/base_2027q1_business_investment:base/valueNone42.3375
/operating_model/cells/base_2027q1_cad_commitment:base/basisNoneBinding 3.5M-unit commitment at CAD10, within 45 days of September 14; expected in Q4 fiscal 2026.
/operating_model/cells/base_2027q1_cad_commitment:base/caseNonebase
/operating_model/cells/base_2027q1_cad_commitment:base/idNonebase_2027q1_cad_commitment
/operating_model/cells/base_2027q1_cad_commitment:base/kindNoneassumption
/operating_model/cells/base_2027q1_cad_commitment:base/labelNoneCAD35M investment at 1:1 before FX
/operating_model/cells/base_2027q1_cad_commitment:base/periodNone2027Q1
/operating_model/cells/base_2027q1_cad_commitment:base/unitNoneUSD_millions
/operating_model/cells/base_2027q1_cad_commitment:base/valueNone0.0
/operating_model/cells/base_2027q1_cad_usd:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q1_cad_usd:base/caseNonebase
/operating_model/cells/base_2027q1_cad_usd:base/idNonebase_2027q1_cad_usd
/operating_model/cells/base_2027q1_cad_usd:base/kindNoneassumption
/operating_model/cells/base_2027q1_cad_usd:base/labelNoneUSD per CAD assumption
/operating_model/cells/base_2027q1_cad_usd:base/periodNone2027Q1
/operating_model/cells/base_2027q1_cad_usd:base/unitNoneratio
/operating_model/cells/base_2027q1_cad_usd:base/valueNone0.73
/operating_model/cells/base_2027q1_capex:base/basisNoneConsolidated external investment includes domestic expansion and controlled JV plant; internal capital contributions are not counted again.
/operating_model/cells/base_2027q1_capex:base/caseNonebase
/operating_model/cells/base_2027q1_capex:base/idNonebase_2027q1_capex
/operating_model/cells/base_2027q1_capex:base/kindNoneassumption
/operating_model/cells/base_2027q1_capex:base/labelNoneExternal PP&E domestic and controlled-JV cash
/operating_model/cells/base_2027q1_capex:base/periodNone2027Q1
/operating_model/cells/base_2027q1_capex:base/unitNoneUSD_millions
/operating_model/cells/base_2027q1_capex:base/valueNone40.0
/operating_model/cells/base_2027q1_cash_after_funding:base/basisNonePeriod flow only; no claim that preferred cash is freely distributable.
/operating_model/cells/base_2027q1_cash_after_funding:base/caseNonebase
/operating_model/cells/base_2027q1_cash_after_funding:base/formula/opNonesum
/operating_model/cells/base_2027q1_cash_after_funding:base/formula/refs/0Nonebase_2027q1_cash_after_investing
/operating_model/cells/base_2027q1_cash_after_funding:base/formula/refs/1Nonebase_2027q1_preferred_funding
/operating_model/cells/base_2027q1_cash_after_funding:base/idNonebase_2027q1_cash_after_funding
/operating_model/cells/base_2027q1_cash_after_funding:base/kindNonederived
/operating_model/cells/base_2027q1_cash_after_funding:base/labelNoneCash after preferred financing
/operating_model/cells/base_2027q1_cash_after_funding:base/periodNone2027Q1
/operating_model/cells/base_2027q1_cash_after_funding:base/unitNoneUSD_millions
/operating_model/cells/base_2027q1_cash_after_funding:base/valueNone-14.287212499999995
/operating_model/cells/base_2027q1_cash_after_investing:base/basisNoneBefore preferred funding and other capital allocation.
/operating_model/cells/base_2027q1_cash_after_investing:base/caseNonebase
/operating_model/cells/base_2027q1_cash_after_investing:base/formula/opNonesubtract
/operating_model/cells/base_2027q1_cash_after_investing:base/formula/refs/0Nonebase_2027q1_cfo
/operating_model/cells/base_2027q1_cash_after_investing:base/formula/refs/1Nonebase_2027q1_business_investment
/operating_model/cells/base_2027q1_cash_after_investing:base/idNonebase_2027q1_cash_after_investing
/operating_model/cells/base_2027q1_cash_after_investing:base/kindNonederived
/operating_model/cells/base_2027q1_cash_after_investing:base/labelNoneCash after business investing
/operating_model/cells/base_2027q1_cash_after_investing:base/periodNone2027Q1
/operating_model/cells/base_2027q1_cash_after_investing:base/unitNoneUSD_millions
/operating_model/cells/base_2027q1_cash_after_investing:base/valueNone-64.2872125
/operating_model/cells/base_2027q1_cash_bonus:base/basisNoneMaximum September award shown as a Q2 2027 cash/expense sensitivity, conditional on employment and measurement criteria; not SBC.
/operating_model/cells/base_2027q1_cash_bonus:base/caseNonebase
/operating_model/cells/base_2027q1_cash_bonus:base/idNonebase_2027q1_cash_bonus
/operating_model/cells/base_2027q1_cash_bonus:base/kindNoneassumption
/operating_model/cells/base_2027q1_cash_bonus:base/labelNonePerformance cash-bonus allowance
/operating_model/cells/base_2027q1_cash_bonus:base/periodNone2027Q1
/operating_model/cells/base_2027q1_cash_bonus:base/unitNoneUSD_millions
/operating_model/cells/base_2027q1_cash_bonus:base/valueNone0.0
/operating_model/cells/base_2027q1_cash_interest:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q1_cash_interest:base/caseNonebase
/operating_model/cells/base_2027q1_cash_interest:base/idNonebase_2027q1_cash_interest
/operating_model/cells/base_2027q1_cash_interest:base/kindNoneassumption
/operating_model/cells/base_2027q1_cash_interest:base/labelNoneCash debt interest
/operating_model/cells/base_2027q1_cash_interest:base/periodNone2027Q1
/operating_model/cells/base_2027q1_cash_interest:base/unitNoneUSD_millions
/operating_model/cells/base_2027q1_cash_interest:base/valueNone0.2
/operating_model/cells/base_2027q1_cash_interest_income:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q1_cash_interest_income:base/caseNonebase
/operating_model/cells/base_2027q1_cash_interest_income:base/idNonebase_2027q1_cash_interest_income
/operating_model/cells/base_2027q1_cash_interest_income:base/kindNoneassumption
/operating_model/cells/base_2027q1_cash_interest_income:base/labelNoneCash interest income
/operating_model/cells/base_2027q1_cash_interest_income:base/periodNone2027Q1
/operating_model/cells/base_2027q1_cash_interest_income:base/unitNoneUSD_millions
/operating_model/cells/base_2027q1_cash_interest_income:base/valueNone2.0
/operating_model/cells/base_2027q1_cash_opex:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q1_cash_opex:base/caseNonebase
/operating_model/cells/base_2027q1_cash_opex:base/idNonebase_2027q1_cash_opex
/operating_model/cells/base_2027q1_cash_opex:base/kindNoneassumption
/operating_model/cells/base_2027q1_cash_opex:base/labelNoneCash corporate R&D and selling expense
/operating_model/cells/base_2027q1_cash_opex:base/periodNone2027Q1
/operating_model/cells/base_2027q1_cash_opex:base/unitNoneUSD_millions
/operating_model/cells/base_2027q1_cash_opex:base/valueNone14.2
/operating_model/cells/base_2027q1_cash_tax:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q1_cash_tax:base/caseNonebase
/operating_model/cells/base_2027q1_cash_tax:base/idNonebase_2027q1_cash_tax
/operating_model/cells/base_2027q1_cash_tax:base/kindNoneassumption
/operating_model/cells/base_2027q1_cash_tax:base/labelNoneCash tax
/operating_model/cells/base_2027q1_cash_tax:base/periodNone2027Q1
/operating_model/cells/base_2027q1_cash_tax:base/unitNoneUSD_millions
/operating_model/cells/base_2027q1_cash_tax:base/valueNone3.0
/operating_model/cells/base_2027q1_cash_uses:base/basisNoneProject input prepayments are shown separately in strategic cash.
/operating_model/cells/base_2027q1_cash_uses:base/caseNonebase
/operating_model/cells/base_2027q1_cash_uses:base/formula/opNonesum
/operating_model/cells/base_2027q1_cash_uses:base/formula/refs/0Nonebase_2027q1_cash_tax
/operating_model/cells/base_2027q1_cash_uses:base/formula/refs/1Nonebase_2027q1_cash_interest
/operating_model/cells/base_2027q1_cash_uses:base/formula/refs/2Nonebase_2027q1_inventory_other_cash
/operating_model/cells/base_2027q1_cash_uses:base/formula/refs/3Nonebase_2027q1_pass_inventory_cash
/operating_model/cells/base_2027q1_cash_uses:base/idNonebase_2027q1_cash_uses
/operating_model/cells/base_2027q1_cash_uses:base/kindNonederived
/operating_model/cells/base_2027q1_cash_uses:base/labelNoneTax interest and working capital
/operating_model/cells/base_2027q1_cash_uses:base/periodNone2027Q1
/operating_model/cells/base_2027q1_cash_uses:base/unitNoneUSD_millions
/operating_model/cells/base_2027q1_cash_uses:base/valueNone29.2
/operating_model/cells/base_2027q1_cfo:base/basisNoneNo current-period preferred cash dividend.
/operating_model/cells/base_2027q1_cfo:base/caseNonebase
/operating_model/cells/base_2027q1_cfo:base/formula/opNonesubtract
/operating_model/cells/base_2027q1_cfo:base/formula/refs/0Nonebase_2027q1_operating_cash_earnings
/operating_model/cells/base_2027q1_cfo:base/formula/refs/1Nonebase_2027q1_cash_uses
/operating_model/cells/base_2027q1_cfo:base/idNonebase_2027q1_cfo
/operating_model/cells/base_2027q1_cfo:base/kindNonederived
/operating_model/cells/base_2027q1_cfo:base/labelNoneOperating cash flow proxy
/operating_model/cells/base_2027q1_cfo:base/periodNone2027Q1
/operating_model/cells/base_2027q1_cfo:base/unitNoneUSD_millions
/operating_model/cells/base_2027q1_cfo:base/valueNone-21.949712499999997
/operating_model/cells/base_2027q1_core_margin:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q1_core_margin:base/caseNonebase
/operating_model/cells/base_2027q1_core_margin:base/idNonebase_2027q1_core_margin
/operating_model/cells/base_2027q1_core_margin:base/kindNoneassumption
/operating_model/cells/base_2027q1_core_margin:base/labelNoneCore gross margin
/operating_model/cells/base_2027q1_core_margin:base/periodNone2027Q1
/operating_model/cells/base_2027q1_core_margin:base/unitNoneratio
/operating_model/cells/base_2027q1_core_margin:base/valueNone0.25
/operating_model/cells/base_2027q1_core_revenue:base/basisNoneCurrent manufacturing and conditional acquired operations; stockpile is separate.
/operating_model/cells/base_2027q1_core_revenue:base/caseNonebase
/operating_model/cells/base_2027q1_core_revenue:base/formula/opNonesum
/operating_model/cells/base_2027q1_core_revenue:base/formula/refs/0Nonebase_2027q1_legacy_demand
/operating_model/cells/base_2027q1_core_revenue:base/formula/refs/1Nonebase_2027q1_metal_pass
/operating_model/cells/base_2027q1_core_revenue:base/formula/refs/2Nonebase_2027q1_german_revenue
/operating_model/cells/base_2027q1_core_revenue:base/idNonebase_2027q1_core_revenue
/operating_model/cells/base_2027q1_core_revenue:base/kindNonederived
/operating_model/cells/base_2027q1_core_revenue:base/labelNoneCore and acquired revenue
/operating_model/cells/base_2027q1_core_revenue:base/periodNone2027Q1
/operating_model/cells/base_2027q1_core_revenue:base/unitNoneUSD_millions
/operating_model/cells/base_2027q1_core_revenue:base/valueNone88.36115
/operating_model/cells/base_2027q1_da:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q1_da:base/caseNonebase
/operating_model/cells/base_2027q1_da:base/idNonebase_2027q1_da
/operating_model/cells/base_2027q1_da:base/kindNoneassumption
/operating_model/cells/base_2027q1_da:base/labelNoneOperating D&A
/operating_model/cells/base_2027q1_da:base/periodNone2027Q1
/operating_model/cells/base_2027q1_da:base/unitNoneUSD_millions
/operating_model/cells/base_2027q1_da:base/valueNone3.0
/operating_model/cells/base_2027q1_demand_index:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q1_demand_index:base/caseNonebase
/operating_model/cells/base_2027q1_demand_index:base/idNonebase_2027q1_demand_index
/operating_model/cells/base_2027q1_demand_index:base/kindNoneassumption
/operating_model/cells/base_2027q1_demand_index:base/labelNoneNet volume and mix versus Q2
/operating_model/cells/base_2027q1_demand_index:base/periodNone2027Q1
/operating_model/cells/base_2027q1_demand_index:base/unitNoneratio
/operating_model/cells/base_2027q1_demand_index:base/valueNone1.15
/operating_model/cells/base_2027q1_eur_usd:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q1_eur_usd:base/caseNonebase
/operating_model/cells/base_2027q1_eur_usd:base/idNonebase_2027q1_eur_usd
/operating_model/cells/base_2027q1_eur_usd:base/kindNoneassumption
/operating_model/cells/base_2027q1_eur_usd:base/labelNoneUSD per EUR conversion
/operating_model/cells/base_2027q1_eur_usd:base/periodNone2027Q1
/operating_model/cells/base_2027q1_eur_usd:base/unitNoneratio
/operating_model/cells/base_2027q1_eur_usd:base/valueNone1.1
/operating_model/cells/base_2027q1_funding_weight:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q1_funding_weight:base/caseNonebase
/operating_model/cells/base_2027q1_funding_weight:base/idNonebase_2027q1_funding_weight
/operating_model/cells/base_2027q1_funding_weight:base/kindNoneassumption
/operating_model/cells/base_2027q1_funding_weight:base/labelNoneNew funding quarter weight
/operating_model/cells/base_2027q1_funding_weight:base/periodNone2027Q1
/operating_model/cells/base_2027q1_funding_weight:base/unitNoneratio
/operating_model/cells/base_2027q1_funding_weight:base/valueNone0.25
/operating_model/cells/base_2027q1_german_eur_amount:base/basisNoneDesk working capital and net pension assumptions in contractual price formula; signed amount can be negative.
/operating_model/cells/base_2027q1_german_eur_amount:base/caseNonebase
/operating_model/cells/base_2027q1_german_eur_amount:base/idNonebase_2027q1_german_eur_amount
/operating_model/cells/base_2027q1_german_eur_amount:base/kindNoneassumption
/operating_model/cells/base_2027q1_german_eur_amount:base/labelNoneGerman net price sensitivity, EUR millions represented at 1:1 before FX
/operating_model/cells/base_2027q1_german_eur_amount:base/periodNone2027Q1
/operating_model/cells/base_2027q1_german_eur_amount:base/unitNoneUSD_millions
/operating_model/cells/base_2027q1_german_eur_amount:base/valueNone2.125
/operating_model/cells/base_2027q1_german_gross:base/basisNoneUnverified post-close margin.
/operating_model/cells/base_2027q1_german_gross:base/caseNonebase
/operating_model/cells/base_2027q1_german_gross:base/formula/opNonemultiply
/operating_model/cells/base_2027q1_german_gross:base/formula/refs/0Nonebase_2027q1_german_revenue
/operating_model/cells/base_2027q1_german_gross:base/formula/refs/1Nonebase_2027q1_german_margin
/operating_model/cells/base_2027q1_german_gross:base/idNonebase_2027q1_german_gross
/operating_model/cells/base_2027q1_german_gross:base/kindNonederived
/operating_model/cells/base_2027q1_german_gross:base/labelNoneGerman gross contribution
/operating_model/cells/base_2027q1_german_gross:base/periodNone2027Q1
/operating_model/cells/base_2027q1_german_gross:base/unitNoneUSD_millions
/operating_model/cells/base_2027q1_german_gross:base/valueNone0.36
/operating_model/cells/base_2027q1_german_margin:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q1_german_margin:base/caseNonebase
/operating_model/cells/base_2027q1_german_margin:base/idNonebase_2027q1_german_margin
/operating_model/cells/base_2027q1_german_margin:base/kindNoneassumption
/operating_model/cells/base_2027q1_german_margin:base/labelNoneAcquired gross margin
/operating_model/cells/base_2027q1_german_margin:base/periodNone2027Q1
/operating_model/cells/base_2027q1_german_margin:base/unitNoneratio
/operating_model/cells/base_2027q1_german_margin:base/valueNone0.18
/operating_model/cells/base_2027q1_german_price:base/basisNoneScenario only; metal inventory and pension measurement can materially change final consideration.
/operating_model/cells/base_2027q1_german_price:base/caseNonebase
/operating_model/cells/base_2027q1_german_price:base/formula/opNonemultiply
/operating_model/cells/base_2027q1_german_price:base/formula/refs/0Nonebase_2027q1_german_eur_amount
/operating_model/cells/base_2027q1_german_price:base/formula/refs/1Nonebase_2027q1_eur_usd
/operating_model/cells/base_2027q1_german_price:base/idNonebase_2027q1_german_price
/operating_model/cells/base_2027q1_german_price:base/kindNonederived
/operating_model/cells/base_2027q1_german_price:base/labelNoneConditional German closing cash in USD
/operating_model/cells/base_2027q1_german_price:base/periodNone2027Q1
/operating_model/cells/base_2027q1_german_price:base/unitNoneUSD_millions
/operating_model/cells/base_2027q1_german_price:base/valueNone2.3375000000000004
/operating_model/cells/base_2027q1_german_revenue:base/basisNoneDesk acquired-period contribution only after assumed closing; transaction remains conditional.
/operating_model/cells/base_2027q1_german_revenue:base/caseNonebase
/operating_model/cells/base_2027q1_german_revenue:base/idNonebase_2027q1_german_revenue
/operating_model/cells/base_2027q1_german_revenue:base/kindNoneassumption
/operating_model/cells/base_2027q1_german_revenue:base/labelNoneConditional acquired German revenue
/operating_model/cells/base_2027q1_german_revenue:base/periodNone2027Q1
/operating_model/cells/base_2027q1_german_revenue:base/unitNoneUSD_millions
/operating_model/cells/base_2027q1_german_revenue:base/valueNone2.0
/operating_model/cells/base_2027q1_gross_profit:base/basisNoneCompany forecasts are not supplied for the new program.
/operating_model/cells/base_2027q1_gross_profit:base/caseNonebase
/operating_model/cells/base_2027q1_gross_profit:base/formula/opNonesum
/operating_model/cells/base_2027q1_gross_profit:base/formula/refs/0Nonebase_2027q1_legacy_gross
/operating_model/cells/base_2027q1_gross_profit:base/formula/refs/1Nonebase_2027q1_price_gross
/operating_model/cells/base_2027q1_gross_profit:base/formula/refs/2Nonebase_2027q1_german_gross
/operating_model/cells/base_2027q1_gross_profit:base/formula/refs/3Nonebase_2027q1_stockpile_gross
/operating_model/cells/base_2027q1_gross_profit:base/idNonebase_2027q1_gross_profit
/operating_model/cells/base_2027q1_gross_profit:base/kindNonederived
/operating_model/cells/base_2027q1_gross_profit:base/labelNoneGross profit proxy
/operating_model/cells/base_2027q1_gross_profit:base/periodNone2027Q1
/operating_model/cells/base_2027q1_gross_profit:base/unitNoneUSD_millions
/operating_model/cells/base_2027q1_gross_profit:base/valueNone19.450287499999998
/operating_model/cells/base_2027q1_inventory_other_cash:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q1_inventory_other_cash:base/caseNonebase
/operating_model/cells/base_2027q1_inventory_other_cash:base/idNonebase_2027q1_inventory_other_cash
/operating_model/cells/base_2027q1_inventory_other_cash:base/kindNoneassumption
/operating_model/cells/base_2027q1_inventory_other_cash:base/labelNoneInventory and other working-capital use
/operating_model/cells/base_2027q1_inventory_other_cash:base/periodNone2027Q1
/operating_model/cells/base_2027q1_inventory_other_cash:base/unitNoneUSD_millions
/operating_model/cells/base_2027q1_inventory_other_cash:base/valueNone21.0
/operating_model/cells/base_2027q1_inventory_price_fraction:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q1_inventory_price_fraction:base/caseNonebase
/operating_model/cells/base_2027q1_inventory_price_fraction:base/idNonebase_2027q1_inventory_price_fraction
/operating_model/cells/base_2027q1_inventory_price_fraction:base/kindNoneassumption
/operating_model/cells/base_2027q1_inventory_price_fraction:base/labelNonePrice-related inventory funding share
/operating_model/cells/base_2027q1_inventory_price_fraction:base/periodNone2027Q1
/operating_model/cells/base_2027q1_inventory_price_fraction:base/unitNoneratio
/operating_model/cells/base_2027q1_inventory_price_fraction:base/valueNone0.5
/operating_model/cells/base_2027q1_legacy_demand:base/basisNoneDemand separated from incremental metal-price pass-through.
/operating_model/cells/base_2027q1_legacy_demand:base/caseNonebase
/operating_model/cells/base_2027q1_legacy_demand:base/formula/opNonemultiply
/operating_model/cells/base_2027q1_legacy_demand:base/formula/refs/0Noneq2_revenue
/operating_model/cells/base_2027q1_legacy_demand:base/formula/refs/1Nonebase_2027q1_demand_index
/operating_model/cells/base_2027q1_legacy_demand:base/idNonebase_2027q1_legacy_demand
/operating_model/cells/base_2027q1_legacy_demand:base/kindNonederived
/operating_model/cells/base_2027q1_legacy_demand:base/labelNoneLegacy revenue at reference metal prices
/operating_model/cells/base_2027q1_legacy_demand:base/periodNone2027Q1
/operating_model/cells/base_2027q1_legacy_demand:base/unitNoneUSD_millions
/operating_model/cells/base_2027q1_legacy_demand:base/valueNone76.36115
/operating_model/cells/base_2027q1_legacy_gross:base/basisNoneIndependent operating-margin scenario.
/operating_model/cells/base_2027q1_legacy_gross:base/caseNonebase
/operating_model/cells/base_2027q1_legacy_gross:base/formula/opNonemultiply
/operating_model/cells/base_2027q1_legacy_gross:base/formula/refs/0Nonebase_2027q1_legacy_demand
/operating_model/cells/base_2027q1_legacy_gross:base/formula/refs/1Nonebase_2027q1_core_margin
/operating_model/cells/base_2027q1_legacy_gross:base/idNonebase_2027q1_legacy_gross
/operating_model/cells/base_2027q1_legacy_gross:base/kindNonederived
/operating_model/cells/base_2027q1_legacy_gross:base/labelNoneLegacy gross profit
/operating_model/cells/base_2027q1_legacy_gross:base/periodNone2027Q1
/operating_model/cells/base_2027q1_legacy_gross:base/unitNoneUSD_millions
/operating_model/cells/base_2027q1_legacy_gross:base/valueNone19.0902875
/operating_model/cells/base_2027q1_metal_cost:base/basisNoneAt 100% pass-through, higher commodity prices do not create gross profit.
/operating_model/cells/base_2027q1_metal_cost:base/caseNonebase
/operating_model/cells/base_2027q1_metal_cost:base/formula/opNonemultiply
/operating_model/cells/base_2027q1_metal_cost:base/formula/refs/0Nonebase_2027q1_metal_pass
/operating_model/cells/base_2027q1_metal_cost:base/formula/refs/1Nonebase_2027q1_pass_cost_ratio
/operating_model/cells/base_2027q1_metal_cost:base/idNonebase_2027q1_metal_cost
/operating_model/cells/base_2027q1_metal_cost:base/kindNonederived
/operating_model/cells/base_2027q1_metal_cost:base/labelNoneMatched input price cost
/operating_model/cells/base_2027q1_metal_cost:base/periodNone2027Q1
/operating_model/cells/base_2027q1_metal_cost:base/unitNoneUSD_millions
/operating_model/cells/base_2027q1_metal_cost:base/valueNone10.0
/operating_model/cells/base_2027q1_metal_pass:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q1_metal_pass:base/caseNonebase
/operating_model/cells/base_2027q1_metal_pass:base/idNonebase_2027q1_metal_pass
/operating_model/cells/base_2027q1_metal_pass:base/kindNoneassumption
/operating_model/cells/base_2027q1_metal_pass:base/labelNoneIncremental raw-material price pass-through
/operating_model/cells/base_2027q1_metal_pass:base/periodNone2027Q1
/operating_model/cells/base_2027q1_metal_pass:base/unitNoneUSD_millions
/operating_model/cells/base_2027q1_metal_pass:base/valueNone10.0
/operating_model/cells/base_2027q1_new_pik_basis:base/basisNoneInitial 19-day approximate accrual; later tranches assumed late-quarter.
/operating_model/cells/base_2027q1_new_pik_basis:base/caseNonebase
/operating_model/cells/base_2027q1_new_pik_basis:base/formula/opNonemultiply
/operating_model/cells/base_2027q1_new_pik_basis:base/formula/refs/0Nonebase_2027q1_preferred_funding
/operating_model/cells/base_2027q1_new_pik_basis:base/formula/refs/1Nonebase_2027q1_funding_weight
/operating_model/cells/base_2027q1_new_pik_basis:base/idNonebase_2027q1_new_pik_basis
/operating_model/cells/base_2027q1_new_pik_basis:base/kindNonederived
/operating_model/cells/base_2027q1_new_pik_basis:base/labelNoneNew funding weighted for partial quarter
/operating_model/cells/base_2027q1_new_pik_basis:base/periodNone2027Q1
/operating_model/cells/base_2027q1_new_pik_basis:base/unitNoneUSD_millions
/operating_model/cells/base_2027q1_new_pik_basis:base/valueNone12.5
/operating_model/cells/base_2027q1_operating_cash_earnings:base/basisNoneNo debt forgiveness or financing gain.
/operating_model/cells/base_2027q1_operating_cash_earnings:base/caseNonebase
/operating_model/cells/base_2027q1_operating_cash_earnings:base/formula/opNonesum
/operating_model/cells/base_2027q1_operating_cash_earnings:base/formula/refs/0Nonebase_2027q1_operating_income
/operating_model/cells/base_2027q1_operating_cash_earnings:base/formula/refs/1Nonebase_2027q1_sbc
/operating_model/cells/base_2027q1_operating_cash_earnings:base/formula/refs/2Nonebase_2027q1_da
/operating_model/cells/base_2027q1_operating_cash_earnings:base/formula/refs/3Nonebase_2027q1_cash_interest_income
/operating_model/cells/base_2027q1_operating_cash_earnings:base/idNonebase_2027q1_operating_cash_earnings
/operating_model/cells/base_2027q1_operating_cash_earnings:base/kindNonederived
/operating_model/cells/base_2027q1_operating_cash_earnings:base/labelNoneOperating earnings plus noncash and interest
/operating_model/cells/base_2027q1_operating_cash_earnings:base/periodNone2027Q1
/operating_model/cells/base_2027q1_operating_cash_earnings:base/unitNoneUSD_millions
/operating_model/cells/base_2027q1_operating_cash_earnings:base/valueNone7.250287500000001
/operating_model/cells/base_2027q1_operating_income:base/basisNonePreferred PIK is below operating economics, not operating expense.
/operating_model/cells/base_2027q1_operating_income:base/caseNonebase
/operating_model/cells/base_2027q1_operating_income:base/formula/opNonesubtract
/operating_model/cells/base_2027q1_operating_income:base/formula/refs/0Nonebase_2027q1_gross_profit
/operating_model/cells/base_2027q1_operating_income:base/formula/refs/1Nonebase_2027q1_opex
/operating_model/cells/base_2027q1_operating_income:base/idNonebase_2027q1_operating_income
/operating_model/cells/base_2027q1_operating_income:base/kindNonederived
/operating_model/cells/base_2027q1_operating_income:base/labelNoneOperating income proxy
/operating_model/cells/base_2027q1_operating_income:base/periodNone2027Q1
/operating_model/cells/base_2027q1_operating_income:base/unitNoneUSD_millions
/operating_model/cells/base_2027q1_operating_income:base/valueNone-0.1497124999999997
/operating_model/cells/base_2027q1_opex:base/basisNoneNo repeat of H1 IPO SBC as if recurring every quarter.
/operating_model/cells/base_2027q1_opex:base/caseNonebase
/operating_model/cells/base_2027q1_opex:base/formula/opNonesum
/operating_model/cells/base_2027q1_opex:base/formula/refs/0Nonebase_2027q1_cash_opex
/operating_model/cells/base_2027q1_opex:base/formula/refs/1Nonebase_2027q1_sbc
/operating_model/cells/base_2027q1_opex:base/formula/refs/2Nonebase_2027q1_da
/operating_model/cells/base_2027q1_opex:base/formula/refs/3Nonebase_2027q1_cash_bonus
/operating_model/cells/base_2027q1_opex:base/idNonebase_2027q1_opex
/operating_model/cells/base_2027q1_opex:base/kindNonederived
/operating_model/cells/base_2027q1_opex:base/labelNoneCash overhead SBC and D&A
/operating_model/cells/base_2027q1_opex:base/periodNone2027Q1
/operating_model/cells/base_2027q1_opex:base/unitNoneUSD_millions
/operating_model/cells/base_2027q1_opex:base/valueNone19.599999999999998
/operating_model/cells/base_2027q1_pass_cost_ratio:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q1_pass_cost_ratio:base/caseNonebase
/operating_model/cells/base_2027q1_pass_cost_ratio:base/idNonebase_2027q1_pass_cost_ratio
/operating_model/cells/base_2027q1_pass_cost_ratio:base/kindNoneassumption
/operating_model/cells/base_2027q1_pass_cost_ratio:base/labelNoneInput-cost share of pass-through
/operating_model/cells/base_2027q1_pass_cost_ratio:base/periodNone2027Q1
/operating_model/cells/base_2027q1_pass_cost_ratio:base/unitNoneratio
/operating_model/cells/base_2027q1_pass_cost_ratio:base/valueNone1.0
/operating_model/cells/base_2027q1_pass_inventory_cash:base/basisNoneCommodity inflation can tie up cash despite matched gross profit.
/operating_model/cells/base_2027q1_pass_inventory_cash:base/caseNonebase
/operating_model/cells/base_2027q1_pass_inventory_cash:base/formula/opNonemultiply
/operating_model/cells/base_2027q1_pass_inventory_cash:base/formula/refs/0Nonebase_2027q1_metal_pass
/operating_model/cells/base_2027q1_pass_inventory_cash:base/formula/refs/1Nonebase_2027q1_inventory_price_fraction
/operating_model/cells/base_2027q1_pass_inventory_cash:base/idNonebase_2027q1_pass_inventory_cash
/operating_model/cells/base_2027q1_pass_inventory_cash:base/kindNonederived
/operating_model/cells/base_2027q1_pass_inventory_cash:base/labelNoneAdditional price-related inventory funding
/operating_model/cells/base_2027q1_pass_inventory_cash:base/periodNone2027Q1
/operating_model/cells/base_2027q1_pass_inventory_cash:base/unitNoneUSD_millions
/operating_model/cells/base_2027q1_pass_inventory_cash:base/valueNone5.0
/operating_model/cells/base_2027q1_pik_basis:base/basisNoneExisting balance includes prior PIK compounding.
/operating_model/cells/base_2027q1_pik_basis:base/caseNonebase
/operating_model/cells/base_2027q1_pik_basis:base/formula/opNonesum
/operating_model/cells/base_2027q1_pik_basis:base/formula/refs/0Nonebase_2026q4_preferred_ending
/operating_model/cells/base_2027q1_pik_basis:base/formula/refs/1Nonebase_2027q1_new_pik_basis
/operating_model/cells/base_2027q1_pik_basis:base/idNonebase_2027q1_pik_basis
/operating_model/cells/base_2027q1_pik_basis:base/kindNonederived
/operating_model/cells/base_2027q1_pik_basis:base/labelNoneWeighted preferred claim for PIK
/operating_model/cells/base_2027q1_pik_basis:base/periodNone2027Q1
/operating_model/cells/base_2027q1_pik_basis:base/unitNoneUSD_millions
/operating_model/cells/base_2027q1_pik_basis:base/valueNone215.83207074175823
/operating_model/cells/base_2027q1_preferred_ending:base/basisNoneStock balance, not an annual flow; ignores warrant-linked liquidation preference reductions.
/operating_model/cells/base_2027q1_preferred_ending:base/caseNonebase
/operating_model/cells/base_2027q1_preferred_ending:base/formula/opNonesum
/operating_model/cells/base_2027q1_preferred_ending:base/formula/refs/0Nonebase_2026q4_preferred_ending
/operating_model/cells/base_2027q1_preferred_ending:base/formula/refs/1Nonebase_2027q1_preferred_funding
/operating_model/cells/base_2027q1_preferred_ending:base/formula/refs/2Nonebase_2027q1_preferred_pik
/operating_model/cells/base_2027q1_preferred_ending:base/idNonebase_2027q1_preferred_ending
/operating_model/cells/base_2027q1_preferred_ending:base/kindNonederived
/operating_model/cells/base_2027q1_preferred_ending:base/labelNoneEnding preferred claim before warrant adjustments
/operating_model/cells/base_2027q1_preferred_ending:base/periodNone2027Q1
/operating_model/cells/base_2027q1_preferred_ending:base/unitNoneUSD_millions
/operating_model/cells/base_2027q1_preferred_ending:base/valueNone256.2997617144574
/operating_model/cells/base_2027q1_preferred_funding:base/basisNoneInitial $200M received September 14; any later $50M receipt is conditional and respects six-month tranche availability.
/operating_model/cells/base_2027q1_preferred_funding:base/caseNonebase
/operating_model/cells/base_2027q1_preferred_funding:base/idNonebase_2027q1_preferred_funding
/operating_model/cells/base_2027q1_preferred_funding:base/kindNoneassumption
/operating_model/cells/base_2027q1_preferred_funding:base/labelNonePreferred financing receipts
/operating_model/cells/base_2027q1_preferred_funding:base/periodNone2027Q1
/operating_model/cells/base_2027q1_preferred_funding:base/unitNoneUSD_millions
/operating_model/cells/base_2027q1_preferred_funding:base/valueNone50.0
/operating_model/cells/base_2027q1_preferred_pik:base/basisNoneNoncash senior claim; no deduction from current-period cash.
/operating_model/cells/base_2027q1_preferred_pik:base/caseNonebase
/operating_model/cells/base_2027q1_preferred_pik:base/formula/opNonemultiply
/operating_model/cells/base_2027q1_preferred_pik:base/formula/refs/0Nonebase_2027q1_pik_basis
/operating_model/cells/base_2027q1_preferred_pik:base/formula/refs/1Nonepreferred_rate
/operating_model/cells/base_2027q1_preferred_pik:base/formula/refs/2Nonebase_2027q1_quarter_year
/operating_model/cells/base_2027q1_preferred_pik:base/idNonebase_2027q1_preferred_pik
/operating_model/cells/base_2027q1_preferred_pik:base/kindNonederived
/operating_model/cells/base_2027q1_preferred_pik:base/labelNonePreferred economic PIK accrual
/operating_model/cells/base_2027q1_preferred_pik:base/periodNone2027Q1
/operating_model/cells/base_2027q1_preferred_pik:base/unitNoneUSD_millions
/operating_model/cells/base_2027q1_preferred_pik:base/valueNone2.9676909726991756
/operating_model/cells/base_2027q1_price_gross:base/basisNoneMismatch sensitivity is explicit.
/operating_model/cells/base_2027q1_price_gross:base/caseNonebase
/operating_model/cells/base_2027q1_price_gross:base/formula/opNonesubtract
/operating_model/cells/base_2027q1_price_gross:base/formula/refs/0Nonebase_2027q1_metal_pass
/operating_model/cells/base_2027q1_price_gross:base/formula/refs/1Nonebase_2027q1_metal_cost
/operating_model/cells/base_2027q1_price_gross:base/idNonebase_2027q1_price_gross
/operating_model/cells/base_2027q1_price_gross:base/kindNonederived
/operating_model/cells/base_2027q1_price_gross:base/labelNoneIncremental price pass-through gross profit
/operating_model/cells/base_2027q1_price_gross:base/periodNone2027Q1
/operating_model/cells/base_2027q1_price_gross:base/unitNoneUSD_millions
/operating_model/cells/base_2027q1_price_gross:base/valueNone0.0
/operating_model/cells/base_2027q1_quarter_year:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q1_quarter_year:base/caseNonebase
/operating_model/cells/base_2027q1_quarter_year:base/idNonebase_2027q1_quarter_year
/operating_model/cells/base_2027q1_quarter_year:base/kindNoneassumption
/operating_model/cells/base_2027q1_quarter_year:base/labelNoneQuarter-year fraction
/operating_model/cells/base_2027q1_quarter_year:base/periodNone2027Q1
/operating_model/cells/base_2027q1_quarter_year:base/unitNoneratio
/operating_model/cells/base_2027q1_quarter_year:base/valueNone0.25
/operating_model/cells/base_2027q1_raw_prepay:base/basisNoneDesk first and milestone-conditioned second $25M funding; later negative amounts are consumption/settlement credits, not new revenue.
/operating_model/cells/base_2027q1_raw_prepay:base/caseNonebase
/operating_model/cells/base_2027q1_raw_prepay:base/idNonebase_2027q1_raw_prepay
/operating_model/cells/base_2027q1_raw_prepay:base/kindNoneassumption
/operating_model/cells/base_2027q1_raw_prepay:base/labelNoneNet new raw-material prepayments
/operating_model/cells/base_2027q1_raw_prepay:base/periodNone2027Q1
/operating_model/cells/base_2027q1_raw_prepay:base/unitNoneUSD_millions
/operating_model/cells/base_2027q1_raw_prepay:base/valueNone0.0
/operating_model/cells/base_2027q1_revenue:base/basisNoneNo recognition of preferred funding as revenue.
/operating_model/cells/base_2027q1_revenue:base/caseNonebase
/operating_model/cells/base_2027q1_revenue:base/formula/opNonesum
/operating_model/cells/base_2027q1_revenue:base/formula/refs/0Nonebase_2027q1_core_revenue
/operating_model/cells/base_2027q1_revenue:base/formula/refs/1Nonebase_2027q1_stockpile_revenue
/operating_model/cells/base_2027q1_revenue:base/idNonebase_2027q1_revenue
/operating_model/cells/base_2027q1_revenue:base/kindNonederived
/operating_model/cells/base_2027q1_revenue:base/labelNoneTotal revenue
/operating_model/cells/base_2027q1_revenue:base/periodNone2027Q1
/operating_model/cells/base_2027q1_revenue:base/unitNoneUSD_millions
/operating_model/cells/base_2027q1_revenue:base/valueNone88.36115
/operating_model/cells/base_2027q1_sbc:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q1_sbc:base/caseNonebase
/operating_model/cells/base_2027q1_sbc:base/idNonebase_2027q1_sbc
/operating_model/cells/base_2027q1_sbc:base/kindNoneassumption
/operating_model/cells/base_2027q1_sbc:base/labelNoneSBC
/operating_model/cells/base_2027q1_sbc:base/periodNone2027Q1
/operating_model/cells/base_2027q1_sbc:base/unitNoneUSD_millions
/operating_model/cells/base_2027q1_sbc:base/valueNone2.4
/operating_model/cells/base_2027q1_stock_margin:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q1_stock_margin:base/caseNonebase
/operating_model/cells/base_2027q1_stock_margin:base/idNonebase_2027q1_stock_margin
/operating_model/cells/base_2027q1_stock_margin:base/kindNoneassumption
/operating_model/cells/base_2027q1_stock_margin:base/labelNoneStockpile gross margin
/operating_model/cells/base_2027q1_stock_margin:base/periodNone2027Q1
/operating_model/cells/base_2027q1_stock_margin:base/unitNoneratio
/operating_model/cells/base_2027q1_stock_margin:base/valueNone0.12
/operating_model/cells/base_2027q1_stockpile_gross:base/basisNoneProcured input cost is reflected in margin; no unsupported floor-price assumption.
/operating_model/cells/base_2027q1_stockpile_gross:base/caseNonebase
/operating_model/cells/base_2027q1_stockpile_gross:base/formula/opNonemultiply
/operating_model/cells/base_2027q1_stockpile_gross:base/formula/refs/0Nonebase_2027q1_stockpile_revenue
/operating_model/cells/base_2027q1_stockpile_gross:base/formula/refs/1Nonebase_2027q1_stock_margin
/operating_model/cells/base_2027q1_stockpile_gross:base/idNonebase_2027q1_stockpile_gross
/operating_model/cells/base_2027q1_stockpile_gross:base/kindNonederived
/operating_model/cells/base_2027q1_stockpile_gross:base/labelNoneStockpile gross contribution
/operating_model/cells/base_2027q1_stockpile_gross:base/periodNone2027Q1
/operating_model/cells/base_2027q1_stockpile_gross:base/unitNoneUSD_millions
/operating_model/cells/base_2027q1_stockpile_gross:base/valueNone0.0
/operating_model/cells/base_2027q1_stockpile_revenue:base/basisNoneSupply-qualified delivery assumption, not pro-rata recognition of the contract ceiling or minimum.
/operating_model/cells/base_2027q1_stockpile_revenue:base/caseNonebase
/operating_model/cells/base_2027q1_stockpile_revenue:base/idNonebase_2027q1_stockpile_revenue
/operating_model/cells/base_2027q1_stockpile_revenue:base/kindNoneassumption
/operating_model/cells/base_2027q1_stockpile_revenue:base/labelNoneAccepted incremental stockpile deliveries
/operating_model/cells/base_2027q1_stockpile_revenue:base/periodNone2027Q1
/operating_model/cells/base_2027q1_stockpile_revenue:base/unitNoneUSD_millions
/operating_model/cells/base_2027q1_stockpile_revenue:base/valueNone0.0
/operating_model/cells/base_2027q1_strategic_cash:base/basisNonePrepaid input consumption cash credits avoid charging both historical prepayment and subsequent COGS cash without adjustment.
/operating_model/cells/base_2027q1_strategic_cash:base/caseNonebase
/operating_model/cells/base_2027q1_strategic_cash:base/formula/opNonesum
/operating_model/cells/base_2027q1_strategic_cash:base/formula/refs/0Nonebase_2027q1_blue_moon
/operating_model/cells/base_2027q1_strategic_cash:base/formula/refs/1Nonebase_2027q1_raw_prepay
/operating_model/cells/base_2027q1_strategic_cash:base/formula/refs/2Nonebase_2027q1_german_price
/operating_model/cells/base_2027q1_strategic_cash:base/idNonebase_2027q1_strategic_cash
/operating_model/cells/base_2027q1_strategic_cash:base/kindNonederived
/operating_model/cells/base_2027q1_strategic_cash:base/labelNoneMinority prepayment and acquisition cash
/operating_model/cells/base_2027q1_strategic_cash:base/periodNone2027Q1
/operating_model/cells/base_2027q1_strategic_cash:base/unitNoneUSD_millions
/operating_model/cells/base_2027q1_strategic_cash:base/valueNone2.3375000000000004
/operating_model/cells/base_2027q2_blue_moon:base/basisNoneNo consolidated Blue Moon sales or market-value gains.
/operating_model/cells/base_2027q2_blue_moon:base/caseNonebase
/operating_model/cells/base_2027q2_blue_moon:base/formula/opNonemultiply
/operating_model/cells/base_2027q2_blue_moon:base/formula/refs/0Nonebase_2027q2_cad_commitment
/operating_model/cells/base_2027q2_blue_moon:base/formula/refs/1Nonebase_2027q2_cad_usd
/operating_model/cells/base_2027q2_blue_moon:base/idNonebase_2027q2_blue_moon
/operating_model/cells/base_2027q2_blue_moon:base/kindNonederived
/operating_model/cells/base_2027q2_blue_moon:base/labelNoneBlue Moon minority investment cash
/operating_model/cells/base_2027q2_blue_moon:base/periodNone2027Q2
/operating_model/cells/base_2027q2_blue_moon:base/unitNoneUSD_millions
/operating_model/cells/base_2027q2_blue_moon:base/valueNone0.0
/operating_model/cells/base_2027q2_business_investment:base/basisNoneNo initial government receipt netted into capex.
/operating_model/cells/base_2027q2_business_investment:base/caseNonebase
/operating_model/cells/base_2027q2_business_investment:base/formula/opNonesum
/operating_model/cells/base_2027q2_business_investment:base/formula/refs/0Nonebase_2027q2_capex
/operating_model/cells/base_2027q2_business_investment:base/formula/refs/1Nonebase_2027q2_strategic_cash
/operating_model/cells/base_2027q2_business_investment:base/idNonebase_2027q2_business_investment
/operating_model/cells/base_2027q2_business_investment:base/kindNonederived
/operating_model/cells/base_2027q2_business_investment:base/labelNonePP&E and strategic deployment
/operating_model/cells/base_2027q2_business_investment:base/periodNone2027Q2
/operating_model/cells/base_2027q2_business_investment:base/unitNoneUSD_millions
/operating_model/cells/base_2027q2_business_investment:base/valueNone70.0
/operating_model/cells/base_2027q2_cad_commitment:base/basisNoneBinding 3.5M-unit commitment at CAD10, within 45 days of September 14; expected in Q4 fiscal 2026.
/operating_model/cells/base_2027q2_cad_commitment:base/caseNonebase
/operating_model/cells/base_2027q2_cad_commitment:base/idNonebase_2027q2_cad_commitment
/operating_model/cells/base_2027q2_cad_commitment:base/kindNoneassumption
/operating_model/cells/base_2027q2_cad_commitment:base/labelNoneCAD35M investment at 1:1 before FX
/operating_model/cells/base_2027q2_cad_commitment:base/periodNone2027Q2
/operating_model/cells/base_2027q2_cad_commitment:base/unitNoneUSD_millions
/operating_model/cells/base_2027q2_cad_commitment:base/valueNone0.0
/operating_model/cells/base_2027q2_cad_usd:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q2_cad_usd:base/caseNonebase
/operating_model/cells/base_2027q2_cad_usd:base/idNonebase_2027q2_cad_usd
/operating_model/cells/base_2027q2_cad_usd:base/kindNoneassumption
/operating_model/cells/base_2027q2_cad_usd:base/labelNoneUSD per CAD assumption
/operating_model/cells/base_2027q2_cad_usd:base/periodNone2027Q2
/operating_model/cells/base_2027q2_cad_usd:base/unitNoneratio
/operating_model/cells/base_2027q2_cad_usd:base/valueNone0.73
/operating_model/cells/base_2027q2_capex:base/basisNoneConsolidated external investment includes domestic expansion and controlled JV plant; internal capital contributions are not counted again.
/operating_model/cells/base_2027q2_capex:base/caseNonebase
/operating_model/cells/base_2027q2_capex:base/idNonebase_2027q2_capex
/operating_model/cells/base_2027q2_capex:base/kindNoneassumption
/operating_model/cells/base_2027q2_capex:base/labelNoneExternal PP&E domestic and controlled-JV cash
/operating_model/cells/base_2027q2_capex:base/periodNone2027Q2
/operating_model/cells/base_2027q2_capex:base/unitNoneUSD_millions
/operating_model/cells/base_2027q2_capex:base/valueNone45.0
/operating_model/cells/base_2027q2_cash_after_funding:base/basisNonePeriod flow only; no claim that preferred cash is freely distributable.
/operating_model/cells/base_2027q2_cash_after_funding:base/caseNonebase
/operating_model/cells/base_2027q2_cash_after_funding:base/formula/opNonesum
/operating_model/cells/base_2027q2_cash_after_funding:base/formula/refs/0Nonebase_2027q2_cash_after_investing
/operating_model/cells/base_2027q2_cash_after_funding:base/formula/refs/1Nonebase_2027q2_preferred_funding
/operating_model/cells/base_2027q2_cash_after_funding:base/idNonebase_2027q2_cash_after_funding
/operating_model/cells/base_2027q2_cash_after_funding:base/kindNonederived
/operating_model/cells/base_2027q2_cash_after_funding:base/labelNoneCash after preferred financing
/operating_model/cells/base_2027q2_cash_after_funding:base/periodNone2027Q2
/operating_model/cells/base_2027q2_cash_after_funding:base/unitNoneUSD_millions
/operating_model/cells/base_2027q2_cash_after_funding:base/valueNone-95.707695
/operating_model/cells/base_2027q2_cash_after_investing:base/basisNoneBefore preferred funding and other capital allocation.
/operating_model/cells/base_2027q2_cash_after_investing:base/caseNonebase
/operating_model/cells/base_2027q2_cash_after_investing:base/formula/opNonesubtract
/operating_model/cells/base_2027q2_cash_after_investing:base/formula/refs/0Nonebase_2027q2_cfo
/operating_model/cells/base_2027q2_cash_after_investing:base/formula/refs/1Nonebase_2027q2_business_investment
/operating_model/cells/base_2027q2_cash_after_investing:base/idNonebase_2027q2_cash_after_investing
/operating_model/cells/base_2027q2_cash_after_investing:base/kindNonederived
/operating_model/cells/base_2027q2_cash_after_investing:base/labelNoneCash after business investing
/operating_model/cells/base_2027q2_cash_after_investing:base/periodNone2027Q2
/operating_model/cells/base_2027q2_cash_after_investing:base/unitNoneUSD_millions
/operating_model/cells/base_2027q2_cash_after_investing:base/valueNone-95.707695
/operating_model/cells/base_2027q2_cash_bonus:base/basisNoneMaximum September award shown as a Q2 2027 cash/expense sensitivity, conditional on employment and measurement criteria; not SBC.
/operating_model/cells/base_2027q2_cash_bonus:base/caseNonebase
/operating_model/cells/base_2027q2_cash_bonus:base/idNonebase_2027q2_cash_bonus
/operating_model/cells/base_2027q2_cash_bonus:base/kindNoneassumption
/operating_model/cells/base_2027q2_cash_bonus:base/labelNonePerformance cash-bonus allowance
/operating_model/cells/base_2027q2_cash_bonus:base/periodNone2027Q2
/operating_model/cells/base_2027q2_cash_bonus:base/unitNoneUSD_millions
/operating_model/cells/base_2027q2_cash_bonus:base/valueNone3.0
/operating_model/cells/base_2027q2_cash_interest:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q2_cash_interest:base/caseNonebase
/operating_model/cells/base_2027q2_cash_interest:base/idNonebase_2027q2_cash_interest
/operating_model/cells/base_2027q2_cash_interest:base/kindNoneassumption
/operating_model/cells/base_2027q2_cash_interest:base/labelNoneCash debt interest
/operating_model/cells/base_2027q2_cash_interest:base/periodNone2027Q2
/operating_model/cells/base_2027q2_cash_interest:base/unitNoneUSD_millions
/operating_model/cells/base_2027q2_cash_interest:base/valueNone0.2
/operating_model/cells/base_2027q2_cash_interest_income:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q2_cash_interest_income:base/caseNonebase
/operating_model/cells/base_2027q2_cash_interest_income:base/idNonebase_2027q2_cash_interest_income
/operating_model/cells/base_2027q2_cash_interest_income:base/kindNoneassumption
/operating_model/cells/base_2027q2_cash_interest_income:base/labelNoneCash interest income
/operating_model/cells/base_2027q2_cash_interest_income:base/periodNone2027Q2
/operating_model/cells/base_2027q2_cash_interest_income:base/unitNoneUSD_millions
/operating_model/cells/base_2027q2_cash_interest_income:base/valueNone2.0
/operating_model/cells/base_2027q2_cash_opex:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q2_cash_opex:base/caseNonebase
/operating_model/cells/base_2027q2_cash_opex:base/idNonebase_2027q2_cash_opex
/operating_model/cells/base_2027q2_cash_opex:base/kindNoneassumption
/operating_model/cells/base_2027q2_cash_opex:base/labelNoneCash corporate R&D and selling expense
/operating_model/cells/base_2027q2_cash_opex:base/periodNone2027Q2
/operating_model/cells/base_2027q2_cash_opex:base/unitNoneUSD_millions
/operating_model/cells/base_2027q2_cash_opex:base/valueNone15.3
/operating_model/cells/base_2027q2_cash_tax:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q2_cash_tax:base/caseNonebase
/operating_model/cells/base_2027q2_cash_tax:base/idNonebase_2027q2_cash_tax
/operating_model/cells/base_2027q2_cash_tax:base/kindNoneassumption
/operating_model/cells/base_2027q2_cash_tax:base/labelNoneCash tax
/operating_model/cells/base_2027q2_cash_tax:base/periodNone2027Q2
/operating_model/cells/base_2027q2_cash_tax:base/unitNoneUSD_millions
/operating_model/cells/base_2027q2_cash_tax:base/valueNone3.5
/operating_model/cells/base_2027q2_cash_uses:base/basisNoneProject input prepayments are shown separately in strategic cash.
/operating_model/cells/base_2027q2_cash_uses:base/caseNonebase
/operating_model/cells/base_2027q2_cash_uses:base/formula/opNonesum
/operating_model/cells/base_2027q2_cash_uses:base/formula/refs/0Nonebase_2027q2_cash_tax
/operating_model/cells/base_2027q2_cash_uses:base/formula/refs/1Nonebase_2027q2_cash_interest
/operating_model/cells/base_2027q2_cash_uses:base/formula/refs/2Nonebase_2027q2_inventory_other_cash
/operating_model/cells/base_2027q2_cash_uses:base/formula/refs/3Nonebase_2027q2_pass_inventory_cash
/operating_model/cells/base_2027q2_cash_uses:base/idNonebase_2027q2_cash_uses
/operating_model/cells/base_2027q2_cash_uses:base/kindNonederived
/operating_model/cells/base_2027q2_cash_uses:base/labelNoneTax interest and working capital
/operating_model/cells/base_2027q2_cash_uses:base/periodNone2027Q2
/operating_model/cells/base_2027q2_cash_uses:base/unitNoneUSD_millions
/operating_model/cells/base_2027q2_cash_uses:base/valueNone31.7
/operating_model/cells/base_2027q2_cfo:base/basisNoneNo current-period preferred cash dividend.
/operating_model/cells/base_2027q2_cfo:base/caseNonebase
/operating_model/cells/base_2027q2_cfo:base/formula/opNonesubtract
/operating_model/cells/base_2027q2_cfo:base/formula/refs/0Nonebase_2027q2_operating_cash_earnings
/operating_model/cells/base_2027q2_cfo:base/formula/refs/1Nonebase_2027q2_cash_uses
/operating_model/cells/base_2027q2_cfo:base/idNonebase_2027q2_cfo
/operating_model/cells/base_2027q2_cfo:base/kindNonederived
/operating_model/cells/base_2027q2_cfo:base/labelNoneOperating cash flow proxy
/operating_model/cells/base_2027q2_cfo:base/periodNone2027Q2
/operating_model/cells/base_2027q2_cfo:base/unitNoneUSD_millions
/operating_model/cells/base_2027q2_cfo:base/valueNone-25.707695
/operating_model/cells/base_2027q2_core_margin:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q2_core_margin:base/caseNonebase
/operating_model/cells/base_2027q2_core_margin:base/idNonebase_2027q2_core_margin
/operating_model/cells/base_2027q2_core_margin:base/kindNoneassumption
/operating_model/cells/base_2027q2_core_margin:base/labelNoneCore gross margin
/operating_model/cells/base_2027q2_core_margin:base/periodNone2027Q2
/operating_model/cells/base_2027q2_core_margin:base/unitNoneratio
/operating_model/cells/base_2027q2_core_margin:base/valueNone0.25
/operating_model/cells/base_2027q2_core_revenue:base/basisNoneCurrent manufacturing and conditional acquired operations; stockpile is separate.
/operating_model/cells/base_2027q2_core_revenue:base/caseNonebase
/operating_model/cells/base_2027q2_core_revenue:base/formula/opNonesum
/operating_model/cells/base_2027q2_core_revenue:base/formula/refs/0Nonebase_2027q2_legacy_demand
/operating_model/cells/base_2027q2_core_revenue:base/formula/refs/1Nonebase_2027q2_metal_pass
/operating_model/cells/base_2027q2_core_revenue:base/formula/refs/2Nonebase_2027q2_german_revenue
/operating_model/cells/base_2027q2_core_revenue:base/idNonebase_2027q2_core_revenue
/operating_model/cells/base_2027q2_core_revenue:base/kindNonederived
/operating_model/cells/base_2027q2_core_revenue:base/labelNoneCore and acquired revenue
/operating_model/cells/base_2027q2_core_revenue:base/periodNone2027Q2
/operating_model/cells/base_2027q2_core_revenue:base/unitNoneUSD_millions
/operating_model/cells/base_2027q2_core_revenue:base/valueNone97.00922
/operating_model/cells/base_2027q2_da:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q2_da:base/caseNonebase
/operating_model/cells/base_2027q2_da:base/idNonebase_2027q2_da
/operating_model/cells/base_2027q2_da:base/kindNoneassumption
/operating_model/cells/base_2027q2_da:base/labelNoneOperating D&A
/operating_model/cells/base_2027q2_da:base/periodNone2027Q2
/operating_model/cells/base_2027q2_da:base/unitNoneUSD_millions
/operating_model/cells/base_2027q2_da:base/valueNone3.5
/operating_model/cells/base_2027q2_demand_index:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q2_demand_index:base/caseNonebase
/operating_model/cells/base_2027q2_demand_index:base/idNonebase_2027q2_demand_index
/operating_model/cells/base_2027q2_demand_index:base/kindNoneassumption
/operating_model/cells/base_2027q2_demand_index:base/labelNoneNet volume and mix versus Q2
/operating_model/cells/base_2027q2_demand_index:base/periodNone2027Q2
/operating_model/cells/base_2027q2_demand_index:base/unitNoneratio
/operating_model/cells/base_2027q2_demand_index:base/valueNone1.22
/operating_model/cells/base_2027q2_eur_usd:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q2_eur_usd:base/caseNonebase
/operating_model/cells/base_2027q2_eur_usd:base/idNonebase_2027q2_eur_usd
/operating_model/cells/base_2027q2_eur_usd:base/kindNoneassumption
/operating_model/cells/base_2027q2_eur_usd:base/labelNoneUSD per EUR conversion
/operating_model/cells/base_2027q2_eur_usd:base/periodNone2027Q2
/operating_model/cells/base_2027q2_eur_usd:base/unitNoneratio
/operating_model/cells/base_2027q2_eur_usd:base/valueNone1.1
/operating_model/cells/base_2027q2_funding_weight:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q2_funding_weight:base/caseNonebase
/operating_model/cells/base_2027q2_funding_weight:base/idNonebase_2027q2_funding_weight
/operating_model/cells/base_2027q2_funding_weight:base/kindNoneassumption
/operating_model/cells/base_2027q2_funding_weight:base/labelNoneNew funding quarter weight
/operating_model/cells/base_2027q2_funding_weight:base/periodNone2027Q2
/operating_model/cells/base_2027q2_funding_weight:base/unitNoneratio
/operating_model/cells/base_2027q2_funding_weight:base/valueNone0.25
/operating_model/cells/base_2027q2_german_eur_amount:base/basisNoneDesk working capital and net pension assumptions in contractual price formula; signed amount can be negative.
/operating_model/cells/base_2027q2_german_eur_amount:base/caseNonebase
/operating_model/cells/base_2027q2_german_eur_amount:base/idNonebase_2027q2_german_eur_amount
/operating_model/cells/base_2027q2_german_eur_amount:base/kindNoneassumption
/operating_model/cells/base_2027q2_german_eur_amount:base/labelNoneGerman net price sensitivity, EUR millions represented at 1:1 before FX
/operating_model/cells/base_2027q2_german_eur_amount:base/periodNone2027Q2
/operating_model/cells/base_2027q2_german_eur_amount:base/unitNoneUSD_millions
/operating_model/cells/base_2027q2_german_eur_amount:base/valueNone0.0
/operating_model/cells/base_2027q2_german_gross:base/basisNoneUnverified post-close margin.
/operating_model/cells/base_2027q2_german_gross:base/caseNonebase
/operating_model/cells/base_2027q2_german_gross:base/formula/opNonemultiply
/operating_model/cells/base_2027q2_german_gross:base/formula/refs/0Nonebase_2027q2_german_revenue
/operating_model/cells/base_2027q2_german_gross:base/formula/refs/1Nonebase_2027q2_german_margin
/operating_model/cells/base_2027q2_german_gross:base/idNonebase_2027q2_german_gross
/operating_model/cells/base_2027q2_german_gross:base/kindNonederived
/operating_model/cells/base_2027q2_german_gross:base/labelNoneGerman gross contribution
/operating_model/cells/base_2027q2_german_gross:base/periodNone2027Q2
/operating_model/cells/base_2027q2_german_gross:base/unitNoneUSD_millions
/operating_model/cells/base_2027q2_german_gross:base/valueNone1.44
/operating_model/cells/base_2027q2_german_margin:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q2_german_margin:base/caseNonebase
/operating_model/cells/base_2027q2_german_margin:base/idNonebase_2027q2_german_margin
/operating_model/cells/base_2027q2_german_margin:base/kindNoneassumption
/operating_model/cells/base_2027q2_german_margin:base/labelNoneAcquired gross margin
/operating_model/cells/base_2027q2_german_margin:base/periodNone2027Q2
/operating_model/cells/base_2027q2_german_margin:base/unitNoneratio
/operating_model/cells/base_2027q2_german_margin:base/valueNone0.18
/operating_model/cells/base_2027q2_german_price:base/basisNoneScenario only; metal inventory and pension measurement can materially change final consideration.
/operating_model/cells/base_2027q2_german_price:base/caseNonebase
/operating_model/cells/base_2027q2_german_price:base/formula/opNonemultiply
/operating_model/cells/base_2027q2_german_price:base/formula/refs/0Nonebase_2027q2_german_eur_amount
/operating_model/cells/base_2027q2_german_price:base/formula/refs/1Nonebase_2027q2_eur_usd
/operating_model/cells/base_2027q2_german_price:base/idNonebase_2027q2_german_price
/operating_model/cells/base_2027q2_german_price:base/kindNonederived
/operating_model/cells/base_2027q2_german_price:base/labelNoneConditional German closing cash in USD
/operating_model/cells/base_2027q2_german_price:base/periodNone2027Q2
/operating_model/cells/base_2027q2_german_price:base/unitNoneUSD_millions
/operating_model/cells/base_2027q2_german_price:base/valueNone0.0
/operating_model/cells/base_2027q2_german_revenue:base/basisNoneDesk acquired-period contribution only after assumed closing; transaction remains conditional.
/operating_model/cells/base_2027q2_german_revenue:base/caseNonebase
/operating_model/cells/base_2027q2_german_revenue:base/idNonebase_2027q2_german_revenue
/operating_model/cells/base_2027q2_german_revenue:base/kindNoneassumption
/operating_model/cells/base_2027q2_german_revenue:base/labelNoneConditional acquired German revenue
/operating_model/cells/base_2027q2_german_revenue:base/periodNone2027Q2
/operating_model/cells/base_2027q2_german_revenue:base/unitNoneUSD_millions
/operating_model/cells/base_2027q2_german_revenue:base/valueNone8.0
/operating_model/cells/base_2027q2_gross_profit:base/basisNoneCompany forecasts are not supplied for the new program.
/operating_model/cells/base_2027q2_gross_profit:base/caseNonebase
/operating_model/cells/base_2027q2_gross_profit:base/formula/opNonesum
/operating_model/cells/base_2027q2_gross_profit:base/formula/refs/0Nonebase_2027q2_legacy_gross
/operating_model/cells/base_2027q2_gross_profit:base/formula/refs/1Nonebase_2027q2_price_gross
/operating_model/cells/base_2027q2_gross_profit:base/formula/refs/2Nonebase_2027q2_german_gross
/operating_model/cells/base_2027q2_gross_profit:base/formula/refs/3Nonebase_2027q2_stockpile_gross
/operating_model/cells/base_2027q2_gross_profit:base/idNonebase_2027q2_gross_profit
/operating_model/cells/base_2027q2_gross_profit:base/kindNonederived
/operating_model/cells/base_2027q2_gross_profit:base/labelNoneGross profit proxy
/operating_model/cells/base_2027q2_gross_profit:base/periodNone2027Q2
/operating_model/cells/base_2027q2_gross_profit:base/unitNoneUSD_millions
/operating_model/cells/base_2027q2_gross_profit:base/valueNone22.292305000000002
/operating_model/cells/base_2027q2_inventory_other_cash:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q2_inventory_other_cash:base/caseNonebase
/operating_model/cells/base_2027q2_inventory_other_cash:base/idNonebase_2027q2_inventory_other_cash
/operating_model/cells/base_2027q2_inventory_other_cash:base/kindNoneassumption
/operating_model/cells/base_2027q2_inventory_other_cash:base/labelNoneInventory and other working-capital use
/operating_model/cells/base_2027q2_inventory_other_cash:base/periodNone2027Q2
/operating_model/cells/base_2027q2_inventory_other_cash:base/unitNoneUSD_millions
/operating_model/cells/base_2027q2_inventory_other_cash:base/valueNone24.0
/operating_model/cells/base_2027q2_inventory_price_fraction:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q2_inventory_price_fraction:base/caseNonebase
/operating_model/cells/base_2027q2_inventory_price_fraction:base/idNonebase_2027q2_inventory_price_fraction
/operating_model/cells/base_2027q2_inventory_price_fraction:base/kindNoneassumption
/operating_model/cells/base_2027q2_inventory_price_fraction:base/labelNonePrice-related inventory funding share
/operating_model/cells/base_2027q2_inventory_price_fraction:base/periodNone2027Q2
/operating_model/cells/base_2027q2_inventory_price_fraction:base/unitNoneratio
/operating_model/cells/base_2027q2_inventory_price_fraction:base/valueNone0.5
/operating_model/cells/base_2027q2_legacy_demand:base/basisNoneDemand separated from incremental metal-price pass-through.
/operating_model/cells/base_2027q2_legacy_demand:base/caseNonebase
/operating_model/cells/base_2027q2_legacy_demand:base/formula/opNonemultiply
/operating_model/cells/base_2027q2_legacy_demand:base/formula/refs/0Noneq2_revenue
/operating_model/cells/base_2027q2_legacy_demand:base/formula/refs/1Nonebase_2027q2_demand_index
/operating_model/cells/base_2027q2_legacy_demand:base/idNonebase_2027q2_legacy_demand
/operating_model/cells/base_2027q2_legacy_demand:base/kindNonederived
/operating_model/cells/base_2027q2_legacy_demand:base/labelNoneLegacy revenue at reference metal prices
/operating_model/cells/base_2027q2_legacy_demand:base/periodNone2027Q2
/operating_model/cells/base_2027q2_legacy_demand:base/unitNoneUSD_millions
/operating_model/cells/base_2027q2_legacy_demand:base/valueNone81.00922
/operating_model/cells/base_2027q2_legacy_gross:base/basisNoneIndependent operating-margin scenario.
/operating_model/cells/base_2027q2_legacy_gross:base/caseNonebase
/operating_model/cells/base_2027q2_legacy_gross:base/formula/opNonemultiply
/operating_model/cells/base_2027q2_legacy_gross:base/formula/refs/0Nonebase_2027q2_legacy_demand
/operating_model/cells/base_2027q2_legacy_gross:base/formula/refs/1Nonebase_2027q2_core_margin
/operating_model/cells/base_2027q2_legacy_gross:base/idNonebase_2027q2_legacy_gross
/operating_model/cells/base_2027q2_legacy_gross:base/kindNonederived
/operating_model/cells/base_2027q2_legacy_gross:base/labelNoneLegacy gross profit
/operating_model/cells/base_2027q2_legacy_gross:base/periodNone2027Q2
/operating_model/cells/base_2027q2_legacy_gross:base/unitNoneUSD_millions
/operating_model/cells/base_2027q2_legacy_gross:base/valueNone20.252305
/operating_model/cells/base_2027q2_metal_cost:base/basisNoneAt 100% pass-through, higher commodity prices do not create gross profit.
/operating_model/cells/base_2027q2_metal_cost:base/caseNonebase
/operating_model/cells/base_2027q2_metal_cost:base/formula/opNonemultiply
/operating_model/cells/base_2027q2_metal_cost:base/formula/refs/0Nonebase_2027q2_metal_pass
/operating_model/cells/base_2027q2_metal_cost:base/formula/refs/1Nonebase_2027q2_pass_cost_ratio
/operating_model/cells/base_2027q2_metal_cost:base/idNonebase_2027q2_metal_cost
/operating_model/cells/base_2027q2_metal_cost:base/kindNonederived
/operating_model/cells/base_2027q2_metal_cost:base/labelNoneMatched input price cost
/operating_model/cells/base_2027q2_metal_cost:base/periodNone2027Q2
/operating_model/cells/base_2027q2_metal_cost:base/unitNoneUSD_millions
/operating_model/cells/base_2027q2_metal_cost:base/valueNone8.0
/operating_model/cells/base_2027q2_metal_pass:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q2_metal_pass:base/caseNonebase
/operating_model/cells/base_2027q2_metal_pass:base/idNonebase_2027q2_metal_pass
/operating_model/cells/base_2027q2_metal_pass:base/kindNoneassumption
/operating_model/cells/base_2027q2_metal_pass:base/labelNoneIncremental raw-material price pass-through
/operating_model/cells/base_2027q2_metal_pass:base/periodNone2027Q2
/operating_model/cells/base_2027q2_metal_pass:base/unitNoneUSD_millions
/operating_model/cells/base_2027q2_metal_pass:base/valueNone8.0
/operating_model/cells/base_2027q2_new_pik_basis:base/basisNoneInitial 19-day approximate accrual; later tranches assumed late-quarter.
/operating_model/cells/base_2027q2_new_pik_basis:base/caseNonebase
/operating_model/cells/base_2027q2_new_pik_basis:base/formula/opNonemultiply
/operating_model/cells/base_2027q2_new_pik_basis:base/formula/refs/0Nonebase_2027q2_preferred_funding
/operating_model/cells/base_2027q2_new_pik_basis:base/formula/refs/1Nonebase_2027q2_funding_weight
/operating_model/cells/base_2027q2_new_pik_basis:base/idNonebase_2027q2_new_pik_basis
/operating_model/cells/base_2027q2_new_pik_basis:base/kindNonederived
/operating_model/cells/base_2027q2_new_pik_basis:base/labelNoneNew funding weighted for partial quarter
/operating_model/cells/base_2027q2_new_pik_basis:base/periodNone2027Q2
/operating_model/cells/base_2027q2_new_pik_basis:base/unitNoneUSD_millions
/operating_model/cells/base_2027q2_new_pik_basis:base/valueNone0.0
/operating_model/cells/base_2027q2_operating_cash_earnings:base/basisNoneNo debt forgiveness or financing gain.
/operating_model/cells/base_2027q2_operating_cash_earnings:base/caseNonebase
/operating_model/cells/base_2027q2_operating_cash_earnings:base/formula/opNonesum
/operating_model/cells/base_2027q2_operating_cash_earnings:base/formula/refs/0Nonebase_2027q2_operating_income
/operating_model/cells/base_2027q2_operating_cash_earnings:base/formula/refs/1Nonebase_2027q2_sbc
/operating_model/cells/base_2027q2_operating_cash_earnings:base/formula/refs/2Nonebase_2027q2_da
/operating_model/cells/base_2027q2_operating_cash_earnings:base/formula/refs/3Nonebase_2027q2_cash_interest_income
/operating_model/cells/base_2027q2_operating_cash_earnings:base/idNonebase_2027q2_operating_cash_earnings
/operating_model/cells/base_2027q2_operating_cash_earnings:base/kindNonederived
/operating_model/cells/base_2027q2_operating_cash_earnings:base/labelNoneOperating earnings plus noncash and interest
/operating_model/cells/base_2027q2_operating_cash_earnings:base/periodNone2027Q2
/operating_model/cells/base_2027q2_operating_cash_earnings:base/unitNoneUSD_millions
/operating_model/cells/base_2027q2_operating_cash_earnings:base/valueNone5.992305
/operating_model/cells/base_2027q2_operating_income:base/basisNonePreferred PIK is below operating economics, not operating expense.
/operating_model/cells/base_2027q2_operating_income:base/caseNonebase
/operating_model/cells/base_2027q2_operating_income:base/formula/opNonesubtract
/operating_model/cells/base_2027q2_operating_income:base/formula/refs/0Nonebase_2027q2_gross_profit
/operating_model/cells/base_2027q2_operating_income:base/formula/refs/1Nonebase_2027q2_opex
/operating_model/cells/base_2027q2_operating_income:base/idNonebase_2027q2_operating_income
/operating_model/cells/base_2027q2_operating_income:base/kindNonederived
/operating_model/cells/base_2027q2_operating_income:base/labelNoneOperating income proxy
/operating_model/cells/base_2027q2_operating_income:base/periodNone2027Q2
/operating_model/cells/base_2027q2_operating_income:base/unitNoneUSD_millions
/operating_model/cells/base_2027q2_operating_income:base/valueNone-2.1076949999999997
/operating_model/cells/base_2027q2_opex:base/basisNoneNo repeat of H1 IPO SBC as if recurring every quarter.
/operating_model/cells/base_2027q2_opex:base/caseNonebase
/operating_model/cells/base_2027q2_opex:base/formula/opNonesum
/operating_model/cells/base_2027q2_opex:base/formula/refs/0Nonebase_2027q2_cash_opex
/operating_model/cells/base_2027q2_opex:base/formula/refs/1Nonebase_2027q2_sbc
/operating_model/cells/base_2027q2_opex:base/formula/refs/2Nonebase_2027q2_da
/operating_model/cells/base_2027q2_opex:base/formula/refs/3Nonebase_2027q2_cash_bonus
/operating_model/cells/base_2027q2_opex:base/idNonebase_2027q2_opex
/operating_model/cells/base_2027q2_opex:base/kindNonederived
/operating_model/cells/base_2027q2_opex:base/labelNoneCash overhead SBC and D&A
/operating_model/cells/base_2027q2_opex:base/periodNone2027Q2
/operating_model/cells/base_2027q2_opex:base/unitNoneUSD_millions
/operating_model/cells/base_2027q2_opex:base/valueNone24.400000000000002
/operating_model/cells/base_2027q2_pass_cost_ratio:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q2_pass_cost_ratio:base/caseNonebase
/operating_model/cells/base_2027q2_pass_cost_ratio:base/idNonebase_2027q2_pass_cost_ratio
/operating_model/cells/base_2027q2_pass_cost_ratio:base/kindNoneassumption
/operating_model/cells/base_2027q2_pass_cost_ratio:base/labelNoneInput-cost share of pass-through
/operating_model/cells/base_2027q2_pass_cost_ratio:base/periodNone2027Q2
/operating_model/cells/base_2027q2_pass_cost_ratio:base/unitNoneratio
/operating_model/cells/base_2027q2_pass_cost_ratio:base/valueNone1.0
/operating_model/cells/base_2027q2_pass_inventory_cash:base/basisNoneCommodity inflation can tie up cash despite matched gross profit.
/operating_model/cells/base_2027q2_pass_inventory_cash:base/caseNonebase
/operating_model/cells/base_2027q2_pass_inventory_cash:base/formula/opNonemultiply
/operating_model/cells/base_2027q2_pass_inventory_cash:base/formula/refs/0Nonebase_2027q2_metal_pass
/operating_model/cells/base_2027q2_pass_inventory_cash:base/formula/refs/1Nonebase_2027q2_inventory_price_fraction
/operating_model/cells/base_2027q2_pass_inventory_cash:base/idNonebase_2027q2_pass_inventory_cash
/operating_model/cells/base_2027q2_pass_inventory_cash:base/kindNonederived
/operating_model/cells/base_2027q2_pass_inventory_cash:base/labelNoneAdditional price-related inventory funding
/operating_model/cells/base_2027q2_pass_inventory_cash:base/periodNone2027Q2
/operating_model/cells/base_2027q2_pass_inventory_cash:base/unitNoneUSD_millions
/operating_model/cells/base_2027q2_pass_inventory_cash:base/valueNone4.0
/operating_model/cells/base_2027q2_pik_basis:base/basisNoneExisting balance includes prior PIK compounding.
/operating_model/cells/base_2027q2_pik_basis:base/caseNonebase
/operating_model/cells/base_2027q2_pik_basis:base/formula/opNonesum
/operating_model/cells/base_2027q2_pik_basis:base/formula/refs/0Nonebase_2027q1_preferred_ending
/operating_model/cells/base_2027q2_pik_basis:base/formula/refs/1Nonebase_2027q2_new_pik_basis
/operating_model/cells/base_2027q2_pik_basis:base/idNonebase_2027q2_pik_basis
/operating_model/cells/base_2027q2_pik_basis:base/kindNonederived
/operating_model/cells/base_2027q2_pik_basis:base/labelNoneWeighted preferred claim for PIK
/operating_model/cells/base_2027q2_pik_basis:base/periodNone2027Q2
/operating_model/cells/base_2027q2_pik_basis:base/unitNoneUSD_millions
/operating_model/cells/base_2027q2_pik_basis:base/valueNone256.2997617144574
/operating_model/cells/base_2027q2_preferred_ending:base/basisNoneStock balance, not an annual flow; ignores warrant-linked liquidation preference reductions.
/operating_model/cells/base_2027q2_preferred_ending:base/caseNonebase
/operating_model/cells/base_2027q2_preferred_ending:base/formula/opNonesum
/operating_model/cells/base_2027q2_preferred_ending:base/formula/refs/0Nonebase_2027q1_preferred_ending
/operating_model/cells/base_2027q2_preferred_ending:base/formula/refs/1Nonebase_2027q2_preferred_funding
/operating_model/cells/base_2027q2_preferred_ending:base/formula/refs/2Nonebase_2027q2_preferred_pik
/operating_model/cells/base_2027q2_preferred_ending:base/idNonebase_2027q2_preferred_ending
/operating_model/cells/base_2027q2_preferred_ending:base/kindNonederived
/operating_model/cells/base_2027q2_preferred_ending:base/labelNoneEnding preferred claim before warrant adjustments
/operating_model/cells/base_2027q2_preferred_ending:base/periodNone2027Q2
/operating_model/cells/base_2027q2_preferred_ending:base/unitNoneUSD_millions
/operating_model/cells/base_2027q2_preferred_ending:base/valueNone259.8238834380312
/operating_model/cells/base_2027q2_preferred_funding:base/basisNoneInitial $200M received September 14; any later $50M receipt is conditional and respects six-month tranche availability.
/operating_model/cells/base_2027q2_preferred_funding:base/caseNonebase
/operating_model/cells/base_2027q2_preferred_funding:base/idNonebase_2027q2_preferred_funding
/operating_model/cells/base_2027q2_preferred_funding:base/kindNoneassumption
/operating_model/cells/base_2027q2_preferred_funding:base/labelNonePreferred financing receipts
/operating_model/cells/base_2027q2_preferred_funding:base/periodNone2027Q2
/operating_model/cells/base_2027q2_preferred_funding:base/unitNoneUSD_millions
/operating_model/cells/base_2027q2_preferred_funding:base/valueNone0.0
/operating_model/cells/base_2027q2_preferred_pik:base/basisNoneNoncash senior claim; no deduction from current-period cash.
/operating_model/cells/base_2027q2_preferred_pik:base/caseNonebase
/operating_model/cells/base_2027q2_preferred_pik:base/formula/opNonemultiply
/operating_model/cells/base_2027q2_preferred_pik:base/formula/refs/0Nonebase_2027q2_pik_basis
/operating_model/cells/base_2027q2_preferred_pik:base/formula/refs/1Nonepreferred_rate
/operating_model/cells/base_2027q2_preferred_pik:base/formula/refs/2Nonebase_2027q2_quarter_year
/operating_model/cells/base_2027q2_preferred_pik:base/idNonebase_2027q2_preferred_pik
/operating_model/cells/base_2027q2_preferred_pik:base/kindNonederived
/operating_model/cells/base_2027q2_preferred_pik:base/labelNonePreferred economic PIK accrual
/operating_model/cells/base_2027q2_preferred_pik:base/periodNone2027Q2
/operating_model/cells/base_2027q2_preferred_pik:base/unitNoneUSD_millions
/operating_model/cells/base_2027q2_preferred_pik:base/valueNone3.5241217235737894
/operating_model/cells/base_2027q2_price_gross:base/basisNoneMismatch sensitivity is explicit.
/operating_model/cells/base_2027q2_price_gross:base/caseNonebase
/operating_model/cells/base_2027q2_price_gross:base/formula/opNonesubtract
/operating_model/cells/base_2027q2_price_gross:base/formula/refs/0Nonebase_2027q2_metal_pass
/operating_model/cells/base_2027q2_price_gross:base/formula/refs/1Nonebase_2027q2_metal_cost
/operating_model/cells/base_2027q2_price_gross:base/idNonebase_2027q2_price_gross
/operating_model/cells/base_2027q2_price_gross:base/kindNonederived
/operating_model/cells/base_2027q2_price_gross:base/labelNoneIncremental price pass-through gross profit
/operating_model/cells/base_2027q2_price_gross:base/periodNone2027Q2
/operating_model/cells/base_2027q2_price_gross:base/unitNoneUSD_millions
/operating_model/cells/base_2027q2_price_gross:base/valueNone0.0
/operating_model/cells/base_2027q2_quarter_year:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q2_quarter_year:base/caseNonebase
/operating_model/cells/base_2027q2_quarter_year:base/idNonebase_2027q2_quarter_year
/operating_model/cells/base_2027q2_quarter_year:base/kindNoneassumption
/operating_model/cells/base_2027q2_quarter_year:base/labelNoneQuarter-year fraction
/operating_model/cells/base_2027q2_quarter_year:base/periodNone2027Q2
/operating_model/cells/base_2027q2_quarter_year:base/unitNoneratio
/operating_model/cells/base_2027q2_quarter_year:base/valueNone0.25
/operating_model/cells/base_2027q2_raw_prepay:base/basisNoneDesk first and milestone-conditioned second $25M funding; later negative amounts are consumption/settlement credits, not new revenue.
/operating_model/cells/base_2027q2_raw_prepay:base/caseNonebase
/operating_model/cells/base_2027q2_raw_prepay:base/idNonebase_2027q2_raw_prepay
/operating_model/cells/base_2027q2_raw_prepay:base/kindNoneassumption
/operating_model/cells/base_2027q2_raw_prepay:base/labelNoneNet new raw-material prepayments
/operating_model/cells/base_2027q2_raw_prepay:base/periodNone2027Q2
/operating_model/cells/base_2027q2_raw_prepay:base/unitNoneUSD_millions
/operating_model/cells/base_2027q2_raw_prepay:base/valueNone25.0
/operating_model/cells/base_2027q2_revenue:base/basisNoneNo recognition of preferred funding as revenue.
/operating_model/cells/base_2027q2_revenue:base/caseNonebase
/operating_model/cells/base_2027q2_revenue:base/formula/opNonesum
/operating_model/cells/base_2027q2_revenue:base/formula/refs/0Nonebase_2027q2_core_revenue
/operating_model/cells/base_2027q2_revenue:base/formula/refs/1Nonebase_2027q2_stockpile_revenue
/operating_model/cells/base_2027q2_revenue:base/idNonebase_2027q2_revenue
/operating_model/cells/base_2027q2_revenue:base/kindNonederived
/operating_model/cells/base_2027q2_revenue:base/labelNoneTotal revenue
/operating_model/cells/base_2027q2_revenue:base/periodNone2027Q2
/operating_model/cells/base_2027q2_revenue:base/unitNoneUSD_millions
/operating_model/cells/base_2027q2_revenue:base/valueNone102.00922
/operating_model/cells/base_2027q2_sbc:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q2_sbc:base/caseNonebase
/operating_model/cells/base_2027q2_sbc:base/idNonebase_2027q2_sbc
/operating_model/cells/base_2027q2_sbc:base/kindNoneassumption
/operating_model/cells/base_2027q2_sbc:base/labelNoneSBC
/operating_model/cells/base_2027q2_sbc:base/periodNone2027Q2
/operating_model/cells/base_2027q2_sbc:base/unitNoneUSD_millions
/operating_model/cells/base_2027q2_sbc:base/valueNone2.6
/operating_model/cells/base_2027q2_stock_margin:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q2_stock_margin:base/caseNonebase
/operating_model/cells/base_2027q2_stock_margin:base/idNonebase_2027q2_stock_margin
/operating_model/cells/base_2027q2_stock_margin:base/kindNoneassumption
/operating_model/cells/base_2027q2_stock_margin:base/labelNoneStockpile gross margin
/operating_model/cells/base_2027q2_stock_margin:base/periodNone2027Q2
/operating_model/cells/base_2027q2_stock_margin:base/unitNoneratio
/operating_model/cells/base_2027q2_stock_margin:base/valueNone0.12
/operating_model/cells/base_2027q2_stockpile_gross:base/basisNoneProcured input cost is reflected in margin; no unsupported floor-price assumption.
/operating_model/cells/base_2027q2_stockpile_gross:base/caseNonebase
/operating_model/cells/base_2027q2_stockpile_gross:base/formula/opNonemultiply
/operating_model/cells/base_2027q2_stockpile_gross:base/formula/refs/0Nonebase_2027q2_stockpile_revenue
/operating_model/cells/base_2027q2_stockpile_gross:base/formula/refs/1Nonebase_2027q2_stock_margin
/operating_model/cells/base_2027q2_stockpile_gross:base/idNonebase_2027q2_stockpile_gross
/operating_model/cells/base_2027q2_stockpile_gross:base/kindNonederived
/operating_model/cells/base_2027q2_stockpile_gross:base/labelNoneStockpile gross contribution
/operating_model/cells/base_2027q2_stockpile_gross:base/periodNone2027Q2
/operating_model/cells/base_2027q2_stockpile_gross:base/unitNoneUSD_millions
/operating_model/cells/base_2027q2_stockpile_gross:base/valueNone0.6
/operating_model/cells/base_2027q2_stockpile_revenue:base/basisNoneSupply-qualified delivery assumption, not pro-rata recognition of the contract ceiling or minimum.
/operating_model/cells/base_2027q2_stockpile_revenue:base/caseNonebase
/operating_model/cells/base_2027q2_stockpile_revenue:base/idNonebase_2027q2_stockpile_revenue
/operating_model/cells/base_2027q2_stockpile_revenue:base/kindNoneassumption
/operating_model/cells/base_2027q2_stockpile_revenue:base/labelNoneAccepted incremental stockpile deliveries
/operating_model/cells/base_2027q2_stockpile_revenue:base/periodNone2027Q2
/operating_model/cells/base_2027q2_stockpile_revenue:base/unitNoneUSD_millions
/operating_model/cells/base_2027q2_stockpile_revenue:base/valueNone5.0
/operating_model/cells/base_2027q2_strategic_cash:base/basisNonePrepaid input consumption cash credits avoid charging both historical prepayment and subsequent COGS cash without adjustment.
/operating_model/cells/base_2027q2_strategic_cash:base/caseNonebase
/operating_model/cells/base_2027q2_strategic_cash:base/formula/opNonesum
/operating_model/cells/base_2027q2_strategic_cash:base/formula/refs/0Nonebase_2027q2_blue_moon
/operating_model/cells/base_2027q2_strategic_cash:base/formula/refs/1Nonebase_2027q2_raw_prepay
/operating_model/cells/base_2027q2_strategic_cash:base/formula/refs/2Nonebase_2027q2_german_price
/operating_model/cells/base_2027q2_strategic_cash:base/idNonebase_2027q2_strategic_cash
/operating_model/cells/base_2027q2_strategic_cash:base/kindNonederived
/operating_model/cells/base_2027q2_strategic_cash:base/labelNoneMinority prepayment and acquisition cash
/operating_model/cells/base_2027q2_strategic_cash:base/periodNone2027Q2
/operating_model/cells/base_2027q2_strategic_cash:base/unitNoneUSD_millions
/operating_model/cells/base_2027q2_strategic_cash:base/valueNone25.0
/operating_model/cells/base_2027q3_blue_moon:base/basisNoneNo consolidated Blue Moon sales or market-value gains.
/operating_model/cells/base_2027q3_blue_moon:base/caseNonebase
/operating_model/cells/base_2027q3_blue_moon:base/formula/opNonemultiply
/operating_model/cells/base_2027q3_blue_moon:base/formula/refs/0Nonebase_2027q3_cad_commitment
/operating_model/cells/base_2027q3_blue_moon:base/formula/refs/1Nonebase_2027q3_cad_usd
/operating_model/cells/base_2027q3_blue_moon:base/idNonebase_2027q3_blue_moon
/operating_model/cells/base_2027q3_blue_moon:base/kindNonederived
/operating_model/cells/base_2027q3_blue_moon:base/labelNoneBlue Moon minority investment cash
/operating_model/cells/base_2027q3_blue_moon:base/periodNone2027Q3
/operating_model/cells/base_2027q3_blue_moon:base/unitNoneUSD_millions
/operating_model/cells/base_2027q3_blue_moon:base/valueNone0.0
/operating_model/cells/base_2027q3_business_investment:base/basisNoneNo initial government receipt netted into capex.
/operating_model/cells/base_2027q3_business_investment:base/caseNonebase
/operating_model/cells/base_2027q3_business_investment:base/formula/opNonesum
/operating_model/cells/base_2027q3_business_investment:base/formula/refs/0Nonebase_2027q3_capex
/operating_model/cells/base_2027q3_business_investment:base/formula/refs/1Nonebase_2027q3_strategic_cash
/operating_model/cells/base_2027q3_business_investment:base/idNonebase_2027q3_business_investment
/operating_model/cells/base_2027q3_business_investment:base/kindNonederived
/operating_model/cells/base_2027q3_business_investment:base/labelNonePP&E and strategic deployment
/operating_model/cells/base_2027q3_business_investment:base/periodNone2027Q3
/operating_model/cells/base_2027q3_business_investment:base/unitNoneUSD_millions
/operating_model/cells/base_2027q3_business_investment:base/valueNone48.0
/operating_model/cells/base_2027q3_cad_commitment:base/basisNoneBinding 3.5M-unit commitment at CAD10, within 45 days of September 14; expected in Q4 fiscal 2026.
/operating_model/cells/base_2027q3_cad_commitment:base/caseNonebase
/operating_model/cells/base_2027q3_cad_commitment:base/idNonebase_2027q3_cad_commitment
/operating_model/cells/base_2027q3_cad_commitment:base/kindNoneassumption
/operating_model/cells/base_2027q3_cad_commitment:base/labelNoneCAD35M investment at 1:1 before FX
/operating_model/cells/base_2027q3_cad_commitment:base/periodNone2027Q3
/operating_model/cells/base_2027q3_cad_commitment:base/unitNoneUSD_millions
/operating_model/cells/base_2027q3_cad_commitment:base/valueNone0.0
/operating_model/cells/base_2027q3_cad_usd:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q3_cad_usd:base/caseNonebase
/operating_model/cells/base_2027q3_cad_usd:base/idNonebase_2027q3_cad_usd
/operating_model/cells/base_2027q3_cad_usd:base/kindNoneassumption
/operating_model/cells/base_2027q3_cad_usd:base/labelNoneUSD per CAD assumption
/operating_model/cells/base_2027q3_cad_usd:base/periodNone2027Q3
/operating_model/cells/base_2027q3_cad_usd:base/unitNoneratio
/operating_model/cells/base_2027q3_cad_usd:base/valueNone0.73
/operating_model/cells/base_2027q3_capex:base/basisNoneConsolidated external investment includes domestic expansion and controlled JV plant; internal capital contributions are not counted again.
/operating_model/cells/base_2027q3_capex:base/caseNonebase
/operating_model/cells/base_2027q3_capex:base/idNonebase_2027q3_capex
/operating_model/cells/base_2027q3_capex:base/kindNoneassumption
/operating_model/cells/base_2027q3_capex:base/labelNoneExternal PP&E domestic and controlled-JV cash
/operating_model/cells/base_2027q3_capex:base/periodNone2027Q3
/operating_model/cells/base_2027q3_capex:base/unitNoneUSD_millions
/operating_model/cells/base_2027q3_capex:base/valueNone50.0
/operating_model/cells/base_2027q3_cash_after_funding:base/basisNonePeriod flow only; no claim that preferred cash is freely distributable.
/operating_model/cells/base_2027q3_cash_after_funding:base/caseNonebase
/operating_model/cells/base_2027q3_cash_after_funding:base/formula/opNonesum
/operating_model/cells/base_2027q3_cash_after_funding:base/formula/refs/0Nonebase_2027q3_cash_after_investing
/operating_model/cells/base_2027q3_cash_after_funding:base/formula/refs/1Nonebase_2027q3_preferred_funding
/operating_model/cells/base_2027q3_cash_after_funding:base/idNonebase_2027q3_cash_after_funding
/operating_model/cells/base_2027q3_cash_after_funding:base/kindNonederived
/operating_model/cells/base_2027q3_cash_after_funding:base/labelNoneCash after preferred financing
/operating_model/cells/base_2027q3_cash_after_funding:base/periodNone2027Q3
/operating_model/cells/base_2027q3_cash_after_funding:base/unitNoneUSD_millions
/operating_model/cells/base_2027q3_cash_after_funding:base/valueNone-22.43168
/operating_model/cells/base_2027q3_cash_after_investing:base/basisNoneBefore preferred funding and other capital allocation.
/operating_model/cells/base_2027q3_cash_after_investing:base/caseNonebase
/operating_model/cells/base_2027q3_cash_after_investing:base/formula/opNonesubtract
/operating_model/cells/base_2027q3_cash_after_investing:base/formula/refs/0Nonebase_2027q3_cfo
/operating_model/cells/base_2027q3_cash_after_investing:base/formula/refs/1Nonebase_2027q3_business_investment
/operating_model/cells/base_2027q3_cash_after_investing:base/idNonebase_2027q3_cash_after_investing
/operating_model/cells/base_2027q3_cash_after_investing:base/kindNonederived
/operating_model/cells/base_2027q3_cash_after_investing:base/labelNoneCash after business investing
/operating_model/cells/base_2027q3_cash_after_investing:base/periodNone2027Q3
/operating_model/cells/base_2027q3_cash_after_investing:base/unitNoneUSD_millions
/operating_model/cells/base_2027q3_cash_after_investing:base/valueNone-72.43168
/operating_model/cells/base_2027q3_cash_bonus:base/basisNoneMaximum September award shown as a Q2 2027 cash/expense sensitivity, conditional on employment and measurement criteria; not SBC.
/operating_model/cells/base_2027q3_cash_bonus:base/caseNonebase
/operating_model/cells/base_2027q3_cash_bonus:base/idNonebase_2027q3_cash_bonus
/operating_model/cells/base_2027q3_cash_bonus:base/kindNoneassumption
/operating_model/cells/base_2027q3_cash_bonus:base/labelNonePerformance cash-bonus allowance
/operating_model/cells/base_2027q3_cash_bonus:base/periodNone2027Q3
/operating_model/cells/base_2027q3_cash_bonus:base/unitNoneUSD_millions
/operating_model/cells/base_2027q3_cash_bonus:base/valueNone0.0
/operating_model/cells/base_2027q3_cash_interest:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q3_cash_interest:base/caseNonebase
/operating_model/cells/base_2027q3_cash_interest:base/idNonebase_2027q3_cash_interest
/operating_model/cells/base_2027q3_cash_interest:base/kindNoneassumption
/operating_model/cells/base_2027q3_cash_interest:base/labelNoneCash debt interest
/operating_model/cells/base_2027q3_cash_interest:base/periodNone2027Q3
/operating_model/cells/base_2027q3_cash_interest:base/unitNoneUSD_millions
/operating_model/cells/base_2027q3_cash_interest:base/valueNone0.2
/operating_model/cells/base_2027q3_cash_interest_income:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q3_cash_interest_income:base/caseNonebase
/operating_model/cells/base_2027q3_cash_interest_income:base/idNonebase_2027q3_cash_interest_income
/operating_model/cells/base_2027q3_cash_interest_income:base/kindNoneassumption
/operating_model/cells/base_2027q3_cash_interest_income:base/labelNoneCash interest income
/operating_model/cells/base_2027q3_cash_interest_income:base/periodNone2027Q3
/operating_model/cells/base_2027q3_cash_interest_income:base/unitNoneUSD_millions
/operating_model/cells/base_2027q3_cash_interest_income:base/valueNone2.0
/operating_model/cells/base_2027q3_cash_opex:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q3_cash_opex:base/caseNonebase
/operating_model/cells/base_2027q3_cash_opex:base/idNonebase_2027q3_cash_opex
/operating_model/cells/base_2027q3_cash_opex:base/kindNoneassumption
/operating_model/cells/base_2027q3_cash_opex:base/labelNoneCash corporate R&D and selling expense
/operating_model/cells/base_2027q3_cash_opex:base/periodNone2027Q3
/operating_model/cells/base_2027q3_cash_opex:base/unitNoneUSD_millions
/operating_model/cells/base_2027q3_cash_opex:base/valueNone16.4
/operating_model/cells/base_2027q3_cash_tax:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q3_cash_tax:base/caseNonebase
/operating_model/cells/base_2027q3_cash_tax:base/idNonebase_2027q3_cash_tax
/operating_model/cells/base_2027q3_cash_tax:base/kindNoneassumption
/operating_model/cells/base_2027q3_cash_tax:base/labelNoneCash tax
/operating_model/cells/base_2027q3_cash_tax:base/periodNone2027Q3
/operating_model/cells/base_2027q3_cash_tax:base/unitNoneUSD_millions
/operating_model/cells/base_2027q3_cash_tax:base/valueNone4.0
/operating_model/cells/base_2027q3_cash_uses:base/basisNoneProject input prepayments are shown separately in strategic cash.
/operating_model/cells/base_2027q3_cash_uses:base/caseNonebase
/operating_model/cells/base_2027q3_cash_uses:base/formula/opNonesum
/operating_model/cells/base_2027q3_cash_uses:base/formula/refs/0Nonebase_2027q3_cash_tax
/operating_model/cells/base_2027q3_cash_uses:base/formula/refs/1Nonebase_2027q3_cash_interest
/operating_model/cells/base_2027q3_cash_uses:base/formula/refs/2Nonebase_2027q3_inventory_other_cash
/operating_model/cells/base_2027q3_cash_uses:base/formula/refs/3Nonebase_2027q3_pass_inventory_cash
/operating_model/cells/base_2027q3_cash_uses:base/idNonebase_2027q3_cash_uses
/operating_model/cells/base_2027q3_cash_uses:base/kindNonederived
/operating_model/cells/base_2027q3_cash_uses:base/labelNoneTax interest and working capital
/operating_model/cells/base_2027q3_cash_uses:base/periodNone2027Q3
/operating_model/cells/base_2027q3_cash_uses:base/unitNoneUSD_millions
/operating_model/cells/base_2027q3_cash_uses:base/valueNone34.7
/operating_model/cells/base_2027q3_cfo:base/basisNoneNo current-period preferred cash dividend.
/operating_model/cells/base_2027q3_cfo:base/caseNonebase
/operating_model/cells/base_2027q3_cfo:base/formula/opNonesubtract
/operating_model/cells/base_2027q3_cfo:base/formula/refs/0Nonebase_2027q3_operating_cash_earnings
/operating_model/cells/base_2027q3_cfo:base/formula/refs/1Nonebase_2027q3_cash_uses
/operating_model/cells/base_2027q3_cfo:base/idNonebase_2027q3_cfo
/operating_model/cells/base_2027q3_cfo:base/kindNonederived
/operating_model/cells/base_2027q3_cfo:base/labelNoneOperating cash flow proxy
/operating_model/cells/base_2027q3_cfo:base/periodNone2027Q3
/operating_model/cells/base_2027q3_cfo:base/unitNoneUSD_millions
/operating_model/cells/base_2027q3_cfo:base/valueNone-24.43168
/operating_model/cells/base_2027q3_core_margin:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q3_core_margin:base/caseNonebase
/operating_model/cells/base_2027q3_core_margin:base/idNonebase_2027q3_core_margin
/operating_model/cells/base_2027q3_core_margin:base/kindNoneassumption
/operating_model/cells/base_2027q3_core_margin:base/labelNoneCore gross margin
/operating_model/cells/base_2027q3_core_margin:base/periodNone2027Q3
/operating_model/cells/base_2027q3_core_margin:base/unitNoneratio
/operating_model/cells/base_2027q3_core_margin:base/valueNone0.25
/operating_model/cells/base_2027q3_core_revenue:base/basisNoneCurrent manufacturing and conditional acquired operations; stockpile is separate.
/operating_model/cells/base_2027q3_core_revenue:base/caseNonebase
/operating_model/cells/base_2027q3_core_revenue:base/formula/opNonesum
/operating_model/cells/base_2027q3_core_revenue:base/formula/refs/0Nonebase_2027q3_legacy_demand
/operating_model/cells/base_2027q3_core_revenue:base/formula/refs/1Nonebase_2027q3_metal_pass
/operating_model/cells/base_2027q3_core_revenue:base/formula/refs/2Nonebase_2027q3_german_revenue
/operating_model/cells/base_2027q3_core_revenue:base/idNonebase_2027q3_core_revenue
/operating_model/cells/base_2027q3_core_revenue:base/kindNonederived
/operating_model/cells/base_2027q3_core_revenue:base/labelNoneCore and acquired revenue
/operating_model/cells/base_2027q3_core_revenue:base/periodNone2027Q3
/operating_model/cells/base_2027q3_core_revenue:base/unitNoneUSD_millions
/operating_model/cells/base_2027q3_core_revenue:base/valueNone100.99328
/operating_model/cells/base_2027q3_da:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q3_da:base/caseNonebase
/operating_model/cells/base_2027q3_da:base/idNonebase_2027q3_da
/operating_model/cells/base_2027q3_da:base/kindNoneassumption
/operating_model/cells/base_2027q3_da:base/labelNoneOperating D&A
/operating_model/cells/base_2027q3_da:base/periodNone2027Q3
/operating_model/cells/base_2027q3_da:base/unitNoneUSD_millions
/operating_model/cells/base_2027q3_da:base/valueNone4.0
/operating_model/cells/base_2027q3_demand_index:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q3_demand_index:base/caseNonebase
/operating_model/cells/base_2027q3_demand_index:base/idNonebase_2027q3_demand_index
/operating_model/cells/base_2027q3_demand_index:base/kindNoneassumption
/operating_model/cells/base_2027q3_demand_index:base/labelNoneNet volume and mix versus Q2
/operating_model/cells/base_2027q3_demand_index:base/periodNone2027Q3
/operating_model/cells/base_2027q3_demand_index:base/unitNoneratio
/operating_model/cells/base_2027q3_demand_index:base/valueNone1.28
/operating_model/cells/base_2027q3_eur_usd:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q3_eur_usd:base/caseNonebase
/operating_model/cells/base_2027q3_eur_usd:base/idNonebase_2027q3_eur_usd
/operating_model/cells/base_2027q3_eur_usd:base/kindNoneassumption
/operating_model/cells/base_2027q3_eur_usd:base/labelNoneUSD per EUR conversion
/operating_model/cells/base_2027q3_eur_usd:base/periodNone2027Q3
/operating_model/cells/base_2027q3_eur_usd:base/unitNoneratio
/operating_model/cells/base_2027q3_eur_usd:base/valueNone1.1
/operating_model/cells/base_2027q3_funding_weight:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q3_funding_weight:base/caseNonebase
/operating_model/cells/base_2027q3_funding_weight:base/idNonebase_2027q3_funding_weight
/operating_model/cells/base_2027q3_funding_weight:base/kindNoneassumption
/operating_model/cells/base_2027q3_funding_weight:base/labelNoneNew funding quarter weight
/operating_model/cells/base_2027q3_funding_weight:base/periodNone2027Q3
/operating_model/cells/base_2027q3_funding_weight:base/unitNoneratio
/operating_model/cells/base_2027q3_funding_weight:base/valueNone0.25
/operating_model/cells/base_2027q3_german_eur_amount:base/basisNoneDesk working capital and net pension assumptions in contractual price formula; signed amount can be negative.
/operating_model/cells/base_2027q3_german_eur_amount:base/caseNonebase
/operating_model/cells/base_2027q3_german_eur_amount:base/idNonebase_2027q3_german_eur_amount
/operating_model/cells/base_2027q3_german_eur_amount:base/kindNoneassumption
/operating_model/cells/base_2027q3_german_eur_amount:base/labelNoneGerman net price sensitivity, EUR millions represented at 1:1 before FX
/operating_model/cells/base_2027q3_german_eur_amount:base/periodNone2027Q3
/operating_model/cells/base_2027q3_german_eur_amount:base/unitNoneUSD_millions
/operating_model/cells/base_2027q3_german_eur_amount:base/valueNone0.0
/operating_model/cells/base_2027q3_german_gross:base/basisNoneUnverified post-close margin.
/operating_model/cells/base_2027q3_german_gross:base/caseNonebase
/operating_model/cells/base_2027q3_german_gross:base/formula/opNonemultiply
/operating_model/cells/base_2027q3_german_gross:base/formula/refs/0Nonebase_2027q3_german_revenue
/operating_model/cells/base_2027q3_german_gross:base/formula/refs/1Nonebase_2027q3_german_margin
/operating_model/cells/base_2027q3_german_gross:base/idNonebase_2027q3_german_gross
/operating_model/cells/base_2027q3_german_gross:base/kindNonederived
/operating_model/cells/base_2027q3_german_gross:base/labelNoneGerman gross contribution
/operating_model/cells/base_2027q3_german_gross:base/periodNone2027Q3
/operating_model/cells/base_2027q3_german_gross:base/unitNoneUSD_millions
/operating_model/cells/base_2027q3_german_gross:base/valueNone1.6199999999999999
/operating_model/cells/base_2027q3_german_margin:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q3_german_margin:base/caseNonebase
/operating_model/cells/base_2027q3_german_margin:base/idNonebase_2027q3_german_margin
/operating_model/cells/base_2027q3_german_margin:base/kindNoneassumption
/operating_model/cells/base_2027q3_german_margin:base/labelNoneAcquired gross margin
/operating_model/cells/base_2027q3_german_margin:base/periodNone2027Q3
/operating_model/cells/base_2027q3_german_margin:base/unitNoneratio
/operating_model/cells/base_2027q3_german_margin:base/valueNone0.18
/operating_model/cells/base_2027q3_german_price:base/basisNoneScenario only; metal inventory and pension measurement can materially change final consideration.
/operating_model/cells/base_2027q3_german_price:base/caseNonebase
/operating_model/cells/base_2027q3_german_price:base/formula/opNonemultiply
/operating_model/cells/base_2027q3_german_price:base/formula/refs/0Nonebase_2027q3_german_eur_amount
/operating_model/cells/base_2027q3_german_price:base/formula/refs/1Nonebase_2027q3_eur_usd
/operating_model/cells/base_2027q3_german_price:base/idNonebase_2027q3_german_price
/operating_model/cells/base_2027q3_german_price:base/kindNonederived
/operating_model/cells/base_2027q3_german_price:base/labelNoneConditional German closing cash in USD
/operating_model/cells/base_2027q3_german_price:base/periodNone2027Q3
/operating_model/cells/base_2027q3_german_price:base/unitNoneUSD_millions
/operating_model/cells/base_2027q3_german_price:base/valueNone0.0
/operating_model/cells/base_2027q3_german_revenue:base/basisNoneDesk acquired-period contribution only after assumed closing; transaction remains conditional.
/operating_model/cells/base_2027q3_german_revenue:base/caseNonebase
/operating_model/cells/base_2027q3_german_revenue:base/idNonebase_2027q3_german_revenue
/operating_model/cells/base_2027q3_german_revenue:base/kindNoneassumption
/operating_model/cells/base_2027q3_german_revenue:base/labelNoneConditional acquired German revenue
/operating_model/cells/base_2027q3_german_revenue:base/periodNone2027Q3
/operating_model/cells/base_2027q3_german_revenue:base/unitNoneUSD_millions
/operating_model/cells/base_2027q3_german_revenue:base/valueNone9.0
/operating_model/cells/base_2027q3_gross_profit:base/basisNoneCompany forecasts are not supplied for the new program.
/operating_model/cells/base_2027q3_gross_profit:base/caseNonebase
/operating_model/cells/base_2027q3_gross_profit:base/formula/opNonesum
/operating_model/cells/base_2027q3_gross_profit:base/formula/refs/0Nonebase_2027q3_legacy_gross
/operating_model/cells/base_2027q3_gross_profit:base/formula/refs/1Nonebase_2027q3_price_gross
/operating_model/cells/base_2027q3_gross_profit:base/formula/refs/2Nonebase_2027q3_german_gross
/operating_model/cells/base_2027q3_gross_profit:base/formula/refs/3Nonebase_2027q3_stockpile_gross
/operating_model/cells/base_2027q3_gross_profit:base/idNonebase_2027q3_gross_profit
/operating_model/cells/base_2027q3_gross_profit:base/kindNonederived
/operating_model/cells/base_2027q3_gross_profit:base/labelNoneGross profit proxy
/operating_model/cells/base_2027q3_gross_profit:base/periodNone2027Q3
/operating_model/cells/base_2027q3_gross_profit:base/unitNoneUSD_millions
/operating_model/cells/base_2027q3_gross_profit:base/valueNone24.66832
/operating_model/cells/base_2027q3_inventory_other_cash:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q3_inventory_other_cash:base/caseNonebase
/operating_model/cells/base_2027q3_inventory_other_cash:base/idNonebase_2027q3_inventory_other_cash
/operating_model/cells/base_2027q3_inventory_other_cash:base/kindNoneassumption
/operating_model/cells/base_2027q3_inventory_other_cash:base/labelNoneInventory and other working-capital use
/operating_model/cells/base_2027q3_inventory_other_cash:base/periodNone2027Q3
/operating_model/cells/base_2027q3_inventory_other_cash:base/unitNoneUSD_millions
/operating_model/cells/base_2027q3_inventory_other_cash:base/valueNone27.0
/operating_model/cells/base_2027q3_inventory_price_fraction:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q3_inventory_price_fraction:base/caseNonebase
/operating_model/cells/base_2027q3_inventory_price_fraction:base/idNonebase_2027q3_inventory_price_fraction
/operating_model/cells/base_2027q3_inventory_price_fraction:base/kindNoneassumption
/operating_model/cells/base_2027q3_inventory_price_fraction:base/labelNonePrice-related inventory funding share
/operating_model/cells/base_2027q3_inventory_price_fraction:base/periodNone2027Q3
/operating_model/cells/base_2027q3_inventory_price_fraction:base/unitNoneratio
/operating_model/cells/base_2027q3_inventory_price_fraction:base/valueNone0.5
/operating_model/cells/base_2027q3_legacy_demand:base/basisNoneDemand separated from incremental metal-price pass-through.
/operating_model/cells/base_2027q3_legacy_demand:base/caseNonebase
/operating_model/cells/base_2027q3_legacy_demand:base/formula/opNonemultiply
/operating_model/cells/base_2027q3_legacy_demand:base/formula/refs/0Noneq2_revenue
/operating_model/cells/base_2027q3_legacy_demand:base/formula/refs/1Nonebase_2027q3_demand_index
/operating_model/cells/base_2027q3_legacy_demand:base/idNonebase_2027q3_legacy_demand
/operating_model/cells/base_2027q3_legacy_demand:base/kindNonederived
/operating_model/cells/base_2027q3_legacy_demand:base/labelNoneLegacy revenue at reference metal prices
/operating_model/cells/base_2027q3_legacy_demand:base/periodNone2027Q3
/operating_model/cells/base_2027q3_legacy_demand:base/unitNoneUSD_millions
/operating_model/cells/base_2027q3_legacy_demand:base/valueNone84.99328
/operating_model/cells/base_2027q3_legacy_gross:base/basisNoneIndependent operating-margin scenario.
/operating_model/cells/base_2027q3_legacy_gross:base/caseNonebase
/operating_model/cells/base_2027q3_legacy_gross:base/formula/opNonemultiply
/operating_model/cells/base_2027q3_legacy_gross:base/formula/refs/0Nonebase_2027q3_legacy_demand
/operating_model/cells/base_2027q3_legacy_gross:base/formula/refs/1Nonebase_2027q3_core_margin
/operating_model/cells/base_2027q3_legacy_gross:base/idNonebase_2027q3_legacy_gross
/operating_model/cells/base_2027q3_legacy_gross:base/kindNonederived
/operating_model/cells/base_2027q3_legacy_gross:base/labelNoneLegacy gross profit
/operating_model/cells/base_2027q3_legacy_gross:base/periodNone2027Q3
/operating_model/cells/base_2027q3_legacy_gross:base/unitNoneUSD_millions
/operating_model/cells/base_2027q3_legacy_gross:base/valueNone21.24832
/operating_model/cells/base_2027q3_metal_cost:base/basisNoneAt 100% pass-through, higher commodity prices do not create gross profit.
/operating_model/cells/base_2027q3_metal_cost:base/caseNonebase
/operating_model/cells/base_2027q3_metal_cost:base/formula/opNonemultiply
/operating_model/cells/base_2027q3_metal_cost:base/formula/refs/0Nonebase_2027q3_metal_pass
/operating_model/cells/base_2027q3_metal_cost:base/formula/refs/1Nonebase_2027q3_pass_cost_ratio
/operating_model/cells/base_2027q3_metal_cost:base/idNonebase_2027q3_metal_cost
/operating_model/cells/base_2027q3_metal_cost:base/kindNonederived
/operating_model/cells/base_2027q3_metal_cost:base/labelNoneMatched input price cost
/operating_model/cells/base_2027q3_metal_cost:base/periodNone2027Q3
/operating_model/cells/base_2027q3_metal_cost:base/unitNoneUSD_millions
/operating_model/cells/base_2027q3_metal_cost:base/valueNone7.0
/operating_model/cells/base_2027q3_metal_pass:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q3_metal_pass:base/caseNonebase
/operating_model/cells/base_2027q3_metal_pass:base/idNonebase_2027q3_metal_pass
/operating_model/cells/base_2027q3_metal_pass:base/kindNoneassumption
/operating_model/cells/base_2027q3_metal_pass:base/labelNoneIncremental raw-material price pass-through
/operating_model/cells/base_2027q3_metal_pass:base/periodNone2027Q3
/operating_model/cells/base_2027q3_metal_pass:base/unitNoneUSD_millions
/operating_model/cells/base_2027q3_metal_pass:base/valueNone7.0
/operating_model/cells/base_2027q3_new_pik_basis:base/basisNoneInitial 19-day approximate accrual; later tranches assumed late-quarter.
/operating_model/cells/base_2027q3_new_pik_basis:base/caseNonebase
/operating_model/cells/base_2027q3_new_pik_basis:base/formula/opNonemultiply
/operating_model/cells/base_2027q3_new_pik_basis:base/formula/refs/0Nonebase_2027q3_preferred_funding
/operating_model/cells/base_2027q3_new_pik_basis:base/formula/refs/1Nonebase_2027q3_funding_weight
/operating_model/cells/base_2027q3_new_pik_basis:base/idNonebase_2027q3_new_pik_basis
/operating_model/cells/base_2027q3_new_pik_basis:base/kindNonederived
/operating_model/cells/base_2027q3_new_pik_basis:base/labelNoneNew funding weighted for partial quarter
/operating_model/cells/base_2027q3_new_pik_basis:base/periodNone2027Q3
/operating_model/cells/base_2027q3_new_pik_basis:base/unitNoneUSD_millions
/operating_model/cells/base_2027q3_new_pik_basis:base/valueNone12.5
/operating_model/cells/base_2027q3_operating_cash_earnings:base/basisNoneNo debt forgiveness or financing gain.
/operating_model/cells/base_2027q3_operating_cash_earnings:base/caseNonebase
/operating_model/cells/base_2027q3_operating_cash_earnings:base/formula/opNonesum
/operating_model/cells/base_2027q3_operating_cash_earnings:base/formula/refs/0Nonebase_2027q3_operating_income
/operating_model/cells/base_2027q3_operating_cash_earnings:base/formula/refs/1Nonebase_2027q3_sbc
/operating_model/cells/base_2027q3_operating_cash_earnings:base/formula/refs/2Nonebase_2027q3_da
/operating_model/cells/base_2027q3_operating_cash_earnings:base/formula/refs/3Nonebase_2027q3_cash_interest_income
/operating_model/cells/base_2027q3_operating_cash_earnings:base/idNonebase_2027q3_operating_cash_earnings
/operating_model/cells/base_2027q3_operating_cash_earnings:base/kindNonederived
/operating_model/cells/base_2027q3_operating_cash_earnings:base/labelNoneOperating earnings plus noncash and interest
/operating_model/cells/base_2027q3_operating_cash_earnings:base/periodNone2027Q3
/operating_model/cells/base_2027q3_operating_cash_earnings:base/unitNoneUSD_millions
/operating_model/cells/base_2027q3_operating_cash_earnings:base/valueNone10.268320000000003
/operating_model/cells/base_2027q3_operating_income:base/basisNonePreferred PIK is below operating economics, not operating expense.
/operating_model/cells/base_2027q3_operating_income:base/caseNonebase
/operating_model/cells/base_2027q3_operating_income:base/formula/opNonesubtract
/operating_model/cells/base_2027q3_operating_income:base/formula/refs/0Nonebase_2027q3_gross_profit
/operating_model/cells/base_2027q3_operating_income:base/formula/refs/1Nonebase_2027q3_opex
/operating_model/cells/base_2027q3_operating_income:base/idNonebase_2027q3_operating_income
/operating_model/cells/base_2027q3_operating_income:base/kindNonederived
/operating_model/cells/base_2027q3_operating_income:base/labelNoneOperating income proxy
/operating_model/cells/base_2027q3_operating_income:base/periodNone2027Q3
/operating_model/cells/base_2027q3_operating_income:base/unitNoneUSD_millions
/operating_model/cells/base_2027q3_operating_income:base/valueNone1.468320000000002
/operating_model/cells/base_2027q3_opex:base/basisNoneNo repeat of H1 IPO SBC as if recurring every quarter.
/operating_model/cells/base_2027q3_opex:base/caseNonebase
/operating_model/cells/base_2027q3_opex:base/formula/opNonesum
/operating_model/cells/base_2027q3_opex:base/formula/refs/0Nonebase_2027q3_cash_opex
/operating_model/cells/base_2027q3_opex:base/formula/refs/1Nonebase_2027q3_sbc
/operating_model/cells/base_2027q3_opex:base/formula/refs/2Nonebase_2027q3_da
/operating_model/cells/base_2027q3_opex:base/formula/refs/3Nonebase_2027q3_cash_bonus
/operating_model/cells/base_2027q3_opex:base/idNonebase_2027q3_opex
/operating_model/cells/base_2027q3_opex:base/kindNonederived
/operating_model/cells/base_2027q3_opex:base/labelNoneCash overhead SBC and D&A
/operating_model/cells/base_2027q3_opex:base/periodNone2027Q3
/operating_model/cells/base_2027q3_opex:base/unitNoneUSD_millions
/operating_model/cells/base_2027q3_opex:base/valueNone23.2
/operating_model/cells/base_2027q3_pass_cost_ratio:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q3_pass_cost_ratio:base/caseNonebase
/operating_model/cells/base_2027q3_pass_cost_ratio:base/idNonebase_2027q3_pass_cost_ratio
/operating_model/cells/base_2027q3_pass_cost_ratio:base/kindNoneassumption
/operating_model/cells/base_2027q3_pass_cost_ratio:base/labelNoneInput-cost share of pass-through
/operating_model/cells/base_2027q3_pass_cost_ratio:base/periodNone2027Q3
/operating_model/cells/base_2027q3_pass_cost_ratio:base/unitNoneratio
/operating_model/cells/base_2027q3_pass_cost_ratio:base/valueNone1.0
/operating_model/cells/base_2027q3_pass_inventory_cash:base/basisNoneCommodity inflation can tie up cash despite matched gross profit.
/operating_model/cells/base_2027q3_pass_inventory_cash:base/caseNonebase
/operating_model/cells/base_2027q3_pass_inventory_cash:base/formula/opNonemultiply
/operating_model/cells/base_2027q3_pass_inventory_cash:base/formula/refs/0Nonebase_2027q3_metal_pass
/operating_model/cells/base_2027q3_pass_inventory_cash:base/formula/refs/1Nonebase_2027q3_inventory_price_fraction
/operating_model/cells/base_2027q3_pass_inventory_cash:base/idNonebase_2027q3_pass_inventory_cash
/operating_model/cells/base_2027q3_pass_inventory_cash:base/kindNonederived
/operating_model/cells/base_2027q3_pass_inventory_cash:base/labelNoneAdditional price-related inventory funding
/operating_model/cells/base_2027q3_pass_inventory_cash:base/periodNone2027Q3
/operating_model/cells/base_2027q3_pass_inventory_cash:base/unitNoneUSD_millions
/operating_model/cells/base_2027q3_pass_inventory_cash:base/valueNone3.5
/operating_model/cells/base_2027q3_pik_basis:base/basisNoneExisting balance includes prior PIK compounding.
/operating_model/cells/base_2027q3_pik_basis:base/caseNonebase
/operating_model/cells/base_2027q3_pik_basis:base/formula/opNonesum
/operating_model/cells/base_2027q3_pik_basis:base/formula/refs/0Nonebase_2027q2_preferred_ending
/operating_model/cells/base_2027q3_pik_basis:base/formula/refs/1Nonebase_2027q3_new_pik_basis
/operating_model/cells/base_2027q3_pik_basis:base/idNonebase_2027q3_pik_basis
/operating_model/cells/base_2027q3_pik_basis:base/kindNonederived
/operating_model/cells/base_2027q3_pik_basis:base/labelNoneWeighted preferred claim for PIK
/operating_model/cells/base_2027q3_pik_basis:base/periodNone2027Q3
/operating_model/cells/base_2027q3_pik_basis:base/unitNoneUSD_millions
/operating_model/cells/base_2027q3_pik_basis:base/valueNone272.3238834380312
/operating_model/cells/base_2027q3_preferred_ending:base/basisNoneStock balance, not an annual flow; ignores warrant-linked liquidation preference reductions.
/operating_model/cells/base_2027q3_preferred_ending:base/caseNonebase
/operating_model/cells/base_2027q3_preferred_ending:base/formula/opNonesum
/operating_model/cells/base_2027q3_preferred_ending:base/formula/refs/0Nonebase_2027q2_preferred_ending
/operating_model/cells/base_2027q3_preferred_ending:base/formula/refs/1Nonebase_2027q3_preferred_funding
/operating_model/cells/base_2027q3_preferred_ending:base/formula/refs/2Nonebase_2027q3_preferred_pik
/operating_model/cells/base_2027q3_preferred_ending:base/idNonebase_2027q3_preferred_ending
/operating_model/cells/base_2027q3_preferred_ending:base/kindNonederived
/operating_model/cells/base_2027q3_preferred_ending:base/labelNoneEnding preferred claim before warrant adjustments
/operating_model/cells/base_2027q3_preferred_ending:base/periodNone2027Q3
/operating_model/cells/base_2027q3_preferred_ending:base/unitNoneUSD_millions
/operating_model/cells/base_2027q3_preferred_ending:base/valueNone313.56833683530414
/operating_model/cells/base_2027q3_preferred_funding:base/basisNoneInitial $200M received September 14; any later $50M receipt is conditional and respects six-month tranche availability.
/operating_model/cells/base_2027q3_preferred_funding:base/caseNonebase
/operating_model/cells/base_2027q3_preferred_funding:base/idNonebase_2027q3_preferred_funding
/operating_model/cells/base_2027q3_preferred_funding:base/kindNoneassumption
/operating_model/cells/base_2027q3_preferred_funding:base/labelNonePreferred financing receipts
/operating_model/cells/base_2027q3_preferred_funding:base/periodNone2027Q3
/operating_model/cells/base_2027q3_preferred_funding:base/unitNoneUSD_millions
/operating_model/cells/base_2027q3_preferred_funding:base/valueNone50.0
/operating_model/cells/base_2027q3_preferred_pik:base/basisNoneNoncash senior claim; no deduction from current-period cash.
/operating_model/cells/base_2027q3_preferred_pik:base/caseNonebase
/operating_model/cells/base_2027q3_preferred_pik:base/formula/opNonemultiply
/operating_model/cells/base_2027q3_preferred_pik:base/formula/refs/0Nonebase_2027q3_pik_basis
/operating_model/cells/base_2027q3_preferred_pik:base/formula/refs/1Nonepreferred_rate
/operating_model/cells/base_2027q3_preferred_pik:base/formula/refs/2Nonebase_2027q3_quarter_year
/operating_model/cells/base_2027q3_preferred_pik:base/idNonebase_2027q3_preferred_pik
/operating_model/cells/base_2027q3_preferred_pik:base/kindNonederived
/operating_model/cells/base_2027q3_preferred_pik:base/labelNonePreferred economic PIK accrual
/operating_model/cells/base_2027q3_preferred_pik:base/periodNone2027Q3
/operating_model/cells/base_2027q3_preferred_pik:base/unitNoneUSD_millions
/operating_model/cells/base_2027q3_preferred_pik:base/valueNone3.7444533972729293
/operating_model/cells/base_2027q3_price_gross:base/basisNoneMismatch sensitivity is explicit.
/operating_model/cells/base_2027q3_price_gross:base/caseNonebase
/operating_model/cells/base_2027q3_price_gross:base/formula/opNonesubtract
/operating_model/cells/base_2027q3_price_gross:base/formula/refs/0Nonebase_2027q3_metal_pass
/operating_model/cells/base_2027q3_price_gross:base/formula/refs/1Nonebase_2027q3_metal_cost
/operating_model/cells/base_2027q3_price_gross:base/idNonebase_2027q3_price_gross
/operating_model/cells/base_2027q3_price_gross:base/kindNonederived
/operating_model/cells/base_2027q3_price_gross:base/labelNoneIncremental price pass-through gross profit
/operating_model/cells/base_2027q3_price_gross:base/periodNone2027Q3
/operating_model/cells/base_2027q3_price_gross:base/unitNoneUSD_millions
/operating_model/cells/base_2027q3_price_gross:base/valueNone0.0
/operating_model/cells/base_2027q3_quarter_year:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q3_quarter_year:base/caseNonebase
/operating_model/cells/base_2027q3_quarter_year:base/idNonebase_2027q3_quarter_year
/operating_model/cells/base_2027q3_quarter_year:base/kindNoneassumption
/operating_model/cells/base_2027q3_quarter_year:base/labelNoneQuarter-year fraction
/operating_model/cells/base_2027q3_quarter_year:base/periodNone2027Q3
/operating_model/cells/base_2027q3_quarter_year:base/unitNoneratio
/operating_model/cells/base_2027q3_quarter_year:base/valueNone0.25
/operating_model/cells/base_2027q3_raw_prepay:base/basisNoneDesk first and milestone-conditioned second $25M funding; later negative amounts are consumption/settlement credits, not new revenue.
/operating_model/cells/base_2027q3_raw_prepay:base/caseNonebase
/operating_model/cells/base_2027q3_raw_prepay:base/idNonebase_2027q3_raw_prepay
/operating_model/cells/base_2027q3_raw_prepay:base/kindNoneassumption
/operating_model/cells/base_2027q3_raw_prepay:base/labelNoneNet new raw-material prepayments
/operating_model/cells/base_2027q3_raw_prepay:base/periodNone2027Q3
/operating_model/cells/base_2027q3_raw_prepay:base/unitNoneUSD_millions
/operating_model/cells/base_2027q3_raw_prepay:base/valueNone-2.0
/operating_model/cells/base_2027q3_revenue:base/basisNoneNo recognition of preferred funding as revenue.
/operating_model/cells/base_2027q3_revenue:base/caseNonebase
/operating_model/cells/base_2027q3_revenue:base/formula/opNonesum
/operating_model/cells/base_2027q3_revenue:base/formula/refs/0Nonebase_2027q3_core_revenue
/operating_model/cells/base_2027q3_revenue:base/formula/refs/1Nonebase_2027q3_stockpile_revenue
/operating_model/cells/base_2027q3_revenue:base/idNonebase_2027q3_revenue
/operating_model/cells/base_2027q3_revenue:base/kindNonederived
/operating_model/cells/base_2027q3_revenue:base/labelNoneTotal revenue
/operating_model/cells/base_2027q3_revenue:base/periodNone2027Q3
/operating_model/cells/base_2027q3_revenue:base/unitNoneUSD_millions
/operating_model/cells/base_2027q3_revenue:base/valueNone115.99328
/operating_model/cells/base_2027q3_sbc:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q3_sbc:base/caseNonebase
/operating_model/cells/base_2027q3_sbc:base/idNonebase_2027q3_sbc
/operating_model/cells/base_2027q3_sbc:base/kindNoneassumption
/operating_model/cells/base_2027q3_sbc:base/labelNoneSBC
/operating_model/cells/base_2027q3_sbc:base/periodNone2027Q3
/operating_model/cells/base_2027q3_sbc:base/unitNoneUSD_millions
/operating_model/cells/base_2027q3_sbc:base/valueNone2.8
/operating_model/cells/base_2027q3_stock_margin:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q3_stock_margin:base/caseNonebase
/operating_model/cells/base_2027q3_stock_margin:base/idNonebase_2027q3_stock_margin
/operating_model/cells/base_2027q3_stock_margin:base/kindNoneassumption
/operating_model/cells/base_2027q3_stock_margin:base/labelNoneStockpile gross margin
/operating_model/cells/base_2027q3_stock_margin:base/periodNone2027Q3
/operating_model/cells/base_2027q3_stock_margin:base/unitNoneratio
/operating_model/cells/base_2027q3_stock_margin:base/valueNone0.12
/operating_model/cells/base_2027q3_stockpile_gross:base/basisNoneProcured input cost is reflected in margin; no unsupported floor-price assumption.
/operating_model/cells/base_2027q3_stockpile_gross:base/caseNonebase
/operating_model/cells/base_2027q3_stockpile_gross:base/formula/opNonemultiply
/operating_model/cells/base_2027q3_stockpile_gross:base/formula/refs/0Nonebase_2027q3_stockpile_revenue
/operating_model/cells/base_2027q3_stockpile_gross:base/formula/refs/1Nonebase_2027q3_stock_margin
/operating_model/cells/base_2027q3_stockpile_gross:base/idNonebase_2027q3_stockpile_gross
/operating_model/cells/base_2027q3_stockpile_gross:base/kindNonederived
/operating_model/cells/base_2027q3_stockpile_gross:base/labelNoneStockpile gross contribution
/operating_model/cells/base_2027q3_stockpile_gross:base/periodNone2027Q3
/operating_model/cells/base_2027q3_stockpile_gross:base/unitNoneUSD_millions
/operating_model/cells/base_2027q3_stockpile_gross:base/valueNone1.7999999999999998
/operating_model/cells/base_2027q3_stockpile_revenue:base/basisNoneSupply-qualified delivery assumption, not pro-rata recognition of the contract ceiling or minimum.
/operating_model/cells/base_2027q3_stockpile_revenue:base/caseNonebase
/operating_model/cells/base_2027q3_stockpile_revenue:base/idNonebase_2027q3_stockpile_revenue
/operating_model/cells/base_2027q3_stockpile_revenue:base/kindNoneassumption
/operating_model/cells/base_2027q3_stockpile_revenue:base/labelNoneAccepted incremental stockpile deliveries
/operating_model/cells/base_2027q3_stockpile_revenue:base/periodNone2027Q3
/operating_model/cells/base_2027q3_stockpile_revenue:base/unitNoneUSD_millions
/operating_model/cells/base_2027q3_stockpile_revenue:base/valueNone15.0
/operating_model/cells/base_2027q3_strategic_cash:base/basisNonePrepaid input consumption cash credits avoid charging both historical prepayment and subsequent COGS cash without adjustment.
/operating_model/cells/base_2027q3_strategic_cash:base/caseNonebase
/operating_model/cells/base_2027q3_strategic_cash:base/formula/opNonesum
/operating_model/cells/base_2027q3_strategic_cash:base/formula/refs/0Nonebase_2027q3_blue_moon
/operating_model/cells/base_2027q3_strategic_cash:base/formula/refs/1Nonebase_2027q3_raw_prepay
/operating_model/cells/base_2027q3_strategic_cash:base/formula/refs/2Nonebase_2027q3_german_price
/operating_model/cells/base_2027q3_strategic_cash:base/idNonebase_2027q3_strategic_cash
/operating_model/cells/base_2027q3_strategic_cash:base/kindNonederived
/operating_model/cells/base_2027q3_strategic_cash:base/labelNoneMinority prepayment and acquisition cash
/operating_model/cells/base_2027q3_strategic_cash:base/periodNone2027Q3
/operating_model/cells/base_2027q3_strategic_cash:base/unitNoneUSD_millions
/operating_model/cells/base_2027q3_strategic_cash:base/valueNone-2.0
/operating_model/cells/base_2027q4_blue_moon:base/basisNoneNo consolidated Blue Moon sales or market-value gains.
/operating_model/cells/base_2027q4_blue_moon:base/caseNonebase
/operating_model/cells/base_2027q4_blue_moon:base/formula/opNonemultiply
/operating_model/cells/base_2027q4_blue_moon:base/formula/refs/0Nonebase_2027q4_cad_commitment
/operating_model/cells/base_2027q4_blue_moon:base/formula/refs/1Nonebase_2027q4_cad_usd
/operating_model/cells/base_2027q4_blue_moon:base/idNonebase_2027q4_blue_moon
/operating_model/cells/base_2027q4_blue_moon:base/kindNonederived
/operating_model/cells/base_2027q4_blue_moon:base/labelNoneBlue Moon minority investment cash
/operating_model/cells/base_2027q4_blue_moon:base/periodNone2027Q4
/operating_model/cells/base_2027q4_blue_moon:base/unitNoneUSD_millions
/operating_model/cells/base_2027q4_blue_moon:base/valueNone0.0
/operating_model/cells/base_2027q4_business_investment:base/basisNoneNo initial government receipt netted into capex.
/operating_model/cells/base_2027q4_business_investment:base/caseNonebase
/operating_model/cells/base_2027q4_business_investment:base/formula/opNonesum
/operating_model/cells/base_2027q4_business_investment:base/formula/refs/0Nonebase_2027q4_capex
/operating_model/cells/base_2027q4_business_investment:base/formula/refs/1Nonebase_2027q4_strategic_cash
/operating_model/cells/base_2027q4_business_investment:base/idNonebase_2027q4_business_investment
/operating_model/cells/base_2027q4_business_investment:base/kindNonederived
/operating_model/cells/base_2027q4_business_investment:base/labelNonePP&E and strategic deployment
/operating_model/cells/base_2027q4_business_investment:base/periodNone2027Q4
/operating_model/cells/base_2027q4_business_investment:base/unitNoneUSD_millions
/operating_model/cells/base_2027q4_business_investment:base/valueNone53.0
/operating_model/cells/base_2027q4_cad_commitment:base/basisNoneBinding 3.5M-unit commitment at CAD10, within 45 days of September 14; expected in Q4 fiscal 2026.
/operating_model/cells/base_2027q4_cad_commitment:base/caseNonebase
/operating_model/cells/base_2027q4_cad_commitment:base/idNonebase_2027q4_cad_commitment
/operating_model/cells/base_2027q4_cad_commitment:base/kindNoneassumption
/operating_model/cells/base_2027q4_cad_commitment:base/labelNoneCAD35M investment at 1:1 before FX
/operating_model/cells/base_2027q4_cad_commitment:base/periodNone2027Q4
/operating_model/cells/base_2027q4_cad_commitment:base/unitNoneUSD_millions
/operating_model/cells/base_2027q4_cad_commitment:base/valueNone0.0
/operating_model/cells/base_2027q4_cad_usd:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q4_cad_usd:base/caseNonebase
/operating_model/cells/base_2027q4_cad_usd:base/idNonebase_2027q4_cad_usd
/operating_model/cells/base_2027q4_cad_usd:base/kindNoneassumption
/operating_model/cells/base_2027q4_cad_usd:base/labelNoneUSD per CAD assumption
/operating_model/cells/base_2027q4_cad_usd:base/periodNone2027Q4
/operating_model/cells/base_2027q4_cad_usd:base/unitNoneratio
/operating_model/cells/base_2027q4_cad_usd:base/valueNone0.73
/operating_model/cells/base_2027q4_capex:base/basisNoneConsolidated external investment includes domestic expansion and controlled JV plant; internal capital contributions are not counted again.
/operating_model/cells/base_2027q4_capex:base/caseNonebase
/operating_model/cells/base_2027q4_capex:base/idNonebase_2027q4_capex
/operating_model/cells/base_2027q4_capex:base/kindNoneassumption
/operating_model/cells/base_2027q4_capex:base/labelNoneExternal PP&E domestic and controlled-JV cash
/operating_model/cells/base_2027q4_capex:base/periodNone2027Q4
/operating_model/cells/base_2027q4_capex:base/unitNoneUSD_millions
/operating_model/cells/base_2027q4_capex:base/valueNone55.0
/operating_model/cells/base_2027q4_cash_after_funding:base/basisNonePeriod flow only; no claim that preferred cash is freely distributable.
/operating_model/cells/base_2027q4_cash_after_funding:base/caseNonebase
/operating_model/cells/base_2027q4_cash_after_funding:base/formula/opNonesum
/operating_model/cells/base_2027q4_cash_after_funding:base/formula/refs/0Nonebase_2027q4_cash_after_investing
/operating_model/cells/base_2027q4_cash_after_funding:base/formula/refs/1Nonebase_2027q4_preferred_funding
/operating_model/cells/base_2027q4_cash_after_funding:base/idNonebase_2027q4_cash_after_funding
/operating_model/cells/base_2027q4_cash_after_funding:base/kindNonederived
/operating_model/cells/base_2027q4_cash_after_funding:base/labelNoneCash after preferred financing
/operating_model/cells/base_2027q4_cash_after_funding:base/periodNone2027Q4
/operating_model/cells/base_2027q4_cash_after_funding:base/unitNoneUSD_millions
/operating_model/cells/base_2027q4_cash_after_funding:base/valueNone-79.3216675
/operating_model/cells/base_2027q4_cash_after_investing:base/basisNoneBefore preferred funding and other capital allocation.
/operating_model/cells/base_2027q4_cash_after_investing:base/caseNonebase
/operating_model/cells/base_2027q4_cash_after_investing:base/formula/opNonesubtract
/operating_model/cells/base_2027q4_cash_after_investing:base/formula/refs/0Nonebase_2027q4_cfo
/operating_model/cells/base_2027q4_cash_after_investing:base/formula/refs/1Nonebase_2027q4_business_investment
/operating_model/cells/base_2027q4_cash_after_investing:base/idNonebase_2027q4_cash_after_investing
/operating_model/cells/base_2027q4_cash_after_investing:base/kindNonederived
/operating_model/cells/base_2027q4_cash_after_investing:base/labelNoneCash after business investing
/operating_model/cells/base_2027q4_cash_after_investing:base/periodNone2027Q4
/operating_model/cells/base_2027q4_cash_after_investing:base/unitNoneUSD_millions
/operating_model/cells/base_2027q4_cash_after_investing:base/valueNone-79.3216675
/operating_model/cells/base_2027q4_cash_bonus:base/basisNoneMaximum September award shown as a Q2 2027 cash/expense sensitivity, conditional on employment and measurement criteria; not SBC.
/operating_model/cells/base_2027q4_cash_bonus:base/caseNonebase
/operating_model/cells/base_2027q4_cash_bonus:base/idNonebase_2027q4_cash_bonus
/operating_model/cells/base_2027q4_cash_bonus:base/kindNoneassumption
/operating_model/cells/base_2027q4_cash_bonus:base/labelNonePerformance cash-bonus allowance
/operating_model/cells/base_2027q4_cash_bonus:base/periodNone2027Q4
/operating_model/cells/base_2027q4_cash_bonus:base/unitNoneUSD_millions
/operating_model/cells/base_2027q4_cash_bonus:base/valueNone0.0
/operating_model/cells/base_2027q4_cash_interest:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q4_cash_interest:base/caseNonebase
/operating_model/cells/base_2027q4_cash_interest:base/idNonebase_2027q4_cash_interest
/operating_model/cells/base_2027q4_cash_interest:base/kindNoneassumption
/operating_model/cells/base_2027q4_cash_interest:base/labelNoneCash debt interest
/operating_model/cells/base_2027q4_cash_interest:base/periodNone2027Q4
/operating_model/cells/base_2027q4_cash_interest:base/unitNoneUSD_millions
/operating_model/cells/base_2027q4_cash_interest:base/valueNone0.2
/operating_model/cells/base_2027q4_cash_interest_income:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q4_cash_interest_income:base/caseNonebase
/operating_model/cells/base_2027q4_cash_interest_income:base/idNonebase_2027q4_cash_interest_income
/operating_model/cells/base_2027q4_cash_interest_income:base/kindNoneassumption
/operating_model/cells/base_2027q4_cash_interest_income:base/labelNoneCash interest income
/operating_model/cells/base_2027q4_cash_interest_income:base/periodNone2027Q4
/operating_model/cells/base_2027q4_cash_interest_income:base/unitNoneUSD_millions
/operating_model/cells/base_2027q4_cash_interest_income:base/valueNone2.0
/operating_model/cells/base_2027q4_cash_opex:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q4_cash_opex:base/caseNonebase
/operating_model/cells/base_2027q4_cash_opex:base/idNonebase_2027q4_cash_opex
/operating_model/cells/base_2027q4_cash_opex:base/kindNoneassumption
/operating_model/cells/base_2027q4_cash_opex:base/labelNoneCash corporate R&D and selling expense
/operating_model/cells/base_2027q4_cash_opex:base/periodNone2027Q4
/operating_model/cells/base_2027q4_cash_opex:base/unitNoneUSD_millions
/operating_model/cells/base_2027q4_cash_opex:base/valueNone17.5
/operating_model/cells/base_2027q4_cash_tax:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q4_cash_tax:base/caseNonebase
/operating_model/cells/base_2027q4_cash_tax:base/idNonebase_2027q4_cash_tax
/operating_model/cells/base_2027q4_cash_tax:base/kindNoneassumption
/operating_model/cells/base_2027q4_cash_tax:base/labelNoneCash tax
/operating_model/cells/base_2027q4_cash_tax:base/periodNone2027Q4
/operating_model/cells/base_2027q4_cash_tax:base/unitNoneUSD_millions
/operating_model/cells/base_2027q4_cash_tax:base/valueNone4.5
/operating_model/cells/base_2027q4_cash_uses:base/basisNoneProject input prepayments are shown separately in strategic cash.
/operating_model/cells/base_2027q4_cash_uses:base/caseNonebase
/operating_model/cells/base_2027q4_cash_uses:base/formula/opNonesum
/operating_model/cells/base_2027q4_cash_uses:base/formula/refs/0Nonebase_2027q4_cash_tax
/operating_model/cells/base_2027q4_cash_uses:base/formula/refs/1Nonebase_2027q4_cash_interest
/operating_model/cells/base_2027q4_cash_uses:base/formula/refs/2Nonebase_2027q4_inventory_other_cash
/operating_model/cells/base_2027q4_cash_uses:base/formula/refs/3Nonebase_2027q4_pass_inventory_cash
/operating_model/cells/base_2027q4_cash_uses:base/idNonebase_2027q4_cash_uses
/operating_model/cells/base_2027q4_cash_uses:base/kindNonederived
/operating_model/cells/base_2027q4_cash_uses:base/labelNoneTax interest and working capital
/operating_model/cells/base_2027q4_cash_uses:base/periodNone2027Q4
/operating_model/cells/base_2027q4_cash_uses:base/unitNoneUSD_millions
/operating_model/cells/base_2027q4_cash_uses:base/valueNone37.7
/operating_model/cells/base_2027q4_cfo:base/basisNoneNo current-period preferred cash dividend.
/operating_model/cells/base_2027q4_cfo:base/caseNonebase
/operating_model/cells/base_2027q4_cfo:base/formula/opNonesubtract
/operating_model/cells/base_2027q4_cfo:base/formula/refs/0Nonebase_2027q4_operating_cash_earnings
/operating_model/cells/base_2027q4_cfo:base/formula/refs/1Nonebase_2027q4_cash_uses
/operating_model/cells/base_2027q4_cfo:base/idNonebase_2027q4_cfo
/operating_model/cells/base_2027q4_cfo:base/kindNonederived
/operating_model/cells/base_2027q4_cfo:base/labelNoneOperating cash flow proxy
/operating_model/cells/base_2027q4_cfo:base/periodNone2027Q4
/operating_model/cells/base_2027q4_cfo:base/unitNoneUSD_millions
/operating_model/cells/base_2027q4_cfo:base/valueNone-26.321667500000004
/operating_model/cells/base_2027q4_core_margin:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q4_core_margin:base/caseNonebase
/operating_model/cells/base_2027q4_core_margin:base/idNonebase_2027q4_core_margin
/operating_model/cells/base_2027q4_core_margin:base/kindNoneassumption
/operating_model/cells/base_2027q4_core_margin:base/labelNoneCore gross margin
/operating_model/cells/base_2027q4_core_margin:base/periodNone2027Q4
/operating_model/cells/base_2027q4_core_margin:base/unitNoneratio
/operating_model/cells/base_2027q4_core_margin:base/valueNone0.25
/operating_model/cells/base_2027q4_core_revenue:base/basisNoneCurrent manufacturing and conditional acquired operations; stockpile is separate.
/operating_model/cells/base_2027q4_core_revenue:base/caseNonebase
/operating_model/cells/base_2027q4_core_revenue:base/formula/opNonesum
/operating_model/cells/base_2027q4_core_revenue:base/formula/refs/0Nonebase_2027q4_legacy_demand
/operating_model/cells/base_2027q4_core_revenue:base/formula/refs/1Nonebase_2027q4_metal_pass
/operating_model/cells/base_2027q4_core_revenue:base/formula/refs/2Nonebase_2027q4_german_revenue
/operating_model/cells/base_2027q4_core_revenue:base/idNonebase_2027q4_core_revenue
/operating_model/cells/base_2027q4_core_revenue:base/kindNonederived
/operating_model/cells/base_2027q4_core_revenue:base/labelNoneCore and acquired revenue
/operating_model/cells/base_2027q4_core_revenue:base/periodNone2027Q4
/operating_model/cells/base_2027q4_core_revenue:base/unitNoneUSD_millions
/operating_model/cells/base_2027q4_core_revenue:base/valueNone104.31333
/operating_model/cells/base_2027q4_da:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q4_da:base/caseNonebase
/operating_model/cells/base_2027q4_da:base/idNonebase_2027q4_da
/operating_model/cells/base_2027q4_da:base/kindNoneassumption
/operating_model/cells/base_2027q4_da:base/labelNoneOperating D&A
/operating_model/cells/base_2027q4_da:base/periodNone2027Q4
/operating_model/cells/base_2027q4_da:base/unitNoneUSD_millions
/operating_model/cells/base_2027q4_da:base/valueNone4.5
/operating_model/cells/base_2027q4_demand_index:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q4_demand_index:base/caseNonebase
/operating_model/cells/base_2027q4_demand_index:base/idNonebase_2027q4_demand_index
/operating_model/cells/base_2027q4_demand_index:base/kindNoneassumption
/operating_model/cells/base_2027q4_demand_index:base/labelNoneNet volume and mix versus Q2
/operating_model/cells/base_2027q4_demand_index:base/periodNone2027Q4
/operating_model/cells/base_2027q4_demand_index:base/unitNoneratio
/operating_model/cells/base_2027q4_demand_index:base/valueNone1.33
/operating_model/cells/base_2027q4_eur_usd:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q4_eur_usd:base/caseNonebase
/operating_model/cells/base_2027q4_eur_usd:base/idNonebase_2027q4_eur_usd
/operating_model/cells/base_2027q4_eur_usd:base/kindNoneassumption
/operating_model/cells/base_2027q4_eur_usd:base/labelNoneUSD per EUR conversion
/operating_model/cells/base_2027q4_eur_usd:base/periodNone2027Q4
/operating_model/cells/base_2027q4_eur_usd:base/unitNoneratio
/operating_model/cells/base_2027q4_eur_usd:base/valueNone1.1
/operating_model/cells/base_2027q4_funding_weight:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q4_funding_weight:base/caseNonebase
/operating_model/cells/base_2027q4_funding_weight:base/idNonebase_2027q4_funding_weight
/operating_model/cells/base_2027q4_funding_weight:base/kindNoneassumption
/operating_model/cells/base_2027q4_funding_weight:base/labelNoneNew funding quarter weight
/operating_model/cells/base_2027q4_funding_weight:base/periodNone2027Q4
/operating_model/cells/base_2027q4_funding_weight:base/unitNoneratio
/operating_model/cells/base_2027q4_funding_weight:base/valueNone0.25
/operating_model/cells/base_2027q4_german_eur_amount:base/basisNoneDesk working capital and net pension assumptions in contractual price formula; signed amount can be negative.
/operating_model/cells/base_2027q4_german_eur_amount:base/caseNonebase
/operating_model/cells/base_2027q4_german_eur_amount:base/idNonebase_2027q4_german_eur_amount
/operating_model/cells/base_2027q4_german_eur_amount:base/kindNoneassumption
/operating_model/cells/base_2027q4_german_eur_amount:base/labelNoneGerman net price sensitivity, EUR millions represented at 1:1 before FX
/operating_model/cells/base_2027q4_german_eur_amount:base/periodNone2027Q4
/operating_model/cells/base_2027q4_german_eur_amount:base/unitNoneUSD_millions
/operating_model/cells/base_2027q4_german_eur_amount:base/valueNone0.0
/operating_model/cells/base_2027q4_german_gross:base/basisNoneUnverified post-close margin.
/operating_model/cells/base_2027q4_german_gross:base/caseNonebase
/operating_model/cells/base_2027q4_german_gross:base/formula/opNonemultiply
/operating_model/cells/base_2027q4_german_gross:base/formula/refs/0Nonebase_2027q4_german_revenue
/operating_model/cells/base_2027q4_german_gross:base/formula/refs/1Nonebase_2027q4_german_margin
/operating_model/cells/base_2027q4_german_gross:base/idNonebase_2027q4_german_gross
/operating_model/cells/base_2027q4_german_gross:base/kindNonederived
/operating_model/cells/base_2027q4_german_gross:base/labelNoneGerman gross contribution
/operating_model/cells/base_2027q4_german_gross:base/periodNone2027Q4
/operating_model/cells/base_2027q4_german_gross:base/unitNoneUSD_millions
/operating_model/cells/base_2027q4_german_gross:base/valueNone1.7999999999999998
/operating_model/cells/base_2027q4_german_margin:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q4_german_margin:base/caseNonebase
/operating_model/cells/base_2027q4_german_margin:base/idNonebase_2027q4_german_margin
/operating_model/cells/base_2027q4_german_margin:base/kindNoneassumption
/operating_model/cells/base_2027q4_german_margin:base/labelNoneAcquired gross margin
/operating_model/cells/base_2027q4_german_margin:base/periodNone2027Q4
/operating_model/cells/base_2027q4_german_margin:base/unitNoneratio
/operating_model/cells/base_2027q4_german_margin:base/valueNone0.18
/operating_model/cells/base_2027q4_german_price:base/basisNoneScenario only; metal inventory and pension measurement can materially change final consideration.
/operating_model/cells/base_2027q4_german_price:base/caseNonebase
/operating_model/cells/base_2027q4_german_price:base/formula/opNonemultiply
/operating_model/cells/base_2027q4_german_price:base/formula/refs/0Nonebase_2027q4_german_eur_amount
/operating_model/cells/base_2027q4_german_price:base/formula/refs/1Nonebase_2027q4_eur_usd
/operating_model/cells/base_2027q4_german_price:base/idNonebase_2027q4_german_price
/operating_model/cells/base_2027q4_german_price:base/kindNonederived
/operating_model/cells/base_2027q4_german_price:base/labelNoneConditional German closing cash in USD
/operating_model/cells/base_2027q4_german_price:base/periodNone2027Q4
/operating_model/cells/base_2027q4_german_price:base/unitNoneUSD_millions
/operating_model/cells/base_2027q4_german_price:base/valueNone0.0
/operating_model/cells/base_2027q4_german_revenue:base/basisNoneDesk acquired-period contribution only after assumed closing; transaction remains conditional.
/operating_model/cells/base_2027q4_german_revenue:base/caseNonebase
/operating_model/cells/base_2027q4_german_revenue:base/idNonebase_2027q4_german_revenue
/operating_model/cells/base_2027q4_german_revenue:base/kindNoneassumption
/operating_model/cells/base_2027q4_german_revenue:base/labelNoneConditional acquired German revenue
/operating_model/cells/base_2027q4_german_revenue:base/periodNone2027Q4
/operating_model/cells/base_2027q4_german_revenue:base/unitNoneUSD_millions
/operating_model/cells/base_2027q4_german_revenue:base/valueNone10.0
/operating_model/cells/base_2027q4_gross_profit:base/basisNoneCompany forecasts are not supplied for the new program.
/operating_model/cells/base_2027q4_gross_profit:base/caseNonebase
/operating_model/cells/base_2027q4_gross_profit:base/formula/opNonesum
/operating_model/cells/base_2027q4_gross_profit:base/formula/refs/0Nonebase_2027q4_legacy_gross
/operating_model/cells/base_2027q4_gross_profit:base/formula/refs/1Nonebase_2027q4_price_gross
/operating_model/cells/base_2027q4_gross_profit:base/formula/refs/2Nonebase_2027q4_german_gross
/operating_model/cells/base_2027q4_gross_profit:base/formula/refs/3Nonebase_2027q4_stockpile_gross
/operating_model/cells/base_2027q4_gross_profit:base/idNonebase_2027q4_gross_profit
/operating_model/cells/base_2027q4_gross_profit:base/kindNonederived
/operating_model/cells/base_2027q4_gross_profit:base/labelNoneGross profit proxy
/operating_model/cells/base_2027q4_gross_profit:base/periodNone2027Q4
/operating_model/cells/base_2027q4_gross_profit:base/unitNoneUSD_millions
/operating_model/cells/base_2027q4_gross_profit:base/valueNone26.8783325
/operating_model/cells/base_2027q4_inventory_other_cash:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q4_inventory_other_cash:base/caseNonebase
/operating_model/cells/base_2027q4_inventory_other_cash:base/idNonebase_2027q4_inventory_other_cash
/operating_model/cells/base_2027q4_inventory_other_cash:base/kindNoneassumption
/operating_model/cells/base_2027q4_inventory_other_cash:base/labelNoneInventory and other working-capital use
/operating_model/cells/base_2027q4_inventory_other_cash:base/periodNone2027Q4
/operating_model/cells/base_2027q4_inventory_other_cash:base/unitNoneUSD_millions
/operating_model/cells/base_2027q4_inventory_other_cash:base/valueNone30.0
/operating_model/cells/base_2027q4_inventory_price_fraction:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q4_inventory_price_fraction:base/caseNonebase
/operating_model/cells/base_2027q4_inventory_price_fraction:base/idNonebase_2027q4_inventory_price_fraction
/operating_model/cells/base_2027q4_inventory_price_fraction:base/kindNoneassumption
/operating_model/cells/base_2027q4_inventory_price_fraction:base/labelNonePrice-related inventory funding share
/operating_model/cells/base_2027q4_inventory_price_fraction:base/periodNone2027Q4
/operating_model/cells/base_2027q4_inventory_price_fraction:base/unitNoneratio
/operating_model/cells/base_2027q4_inventory_price_fraction:base/valueNone0.5
/operating_model/cells/base_2027q4_legacy_demand:base/basisNoneDemand separated from incremental metal-price pass-through.
/operating_model/cells/base_2027q4_legacy_demand:base/caseNonebase
/operating_model/cells/base_2027q4_legacy_demand:base/formula/opNonemultiply
/operating_model/cells/base_2027q4_legacy_demand:base/formula/refs/0Noneq2_revenue
/operating_model/cells/base_2027q4_legacy_demand:base/formula/refs/1Nonebase_2027q4_demand_index
/operating_model/cells/base_2027q4_legacy_demand:base/idNonebase_2027q4_legacy_demand
/operating_model/cells/base_2027q4_legacy_demand:base/kindNonederived
/operating_model/cells/base_2027q4_legacy_demand:base/labelNoneLegacy revenue at reference metal prices
/operating_model/cells/base_2027q4_legacy_demand:base/periodNone2027Q4
/operating_model/cells/base_2027q4_legacy_demand:base/unitNoneUSD_millions
/operating_model/cells/base_2027q4_legacy_demand:base/valueNone88.31333
/operating_model/cells/base_2027q4_legacy_gross:base/basisNoneIndependent operating-margin scenario.
/operating_model/cells/base_2027q4_legacy_gross:base/caseNonebase
/operating_model/cells/base_2027q4_legacy_gross:base/formula/opNonemultiply
/operating_model/cells/base_2027q4_legacy_gross:base/formula/refs/0Nonebase_2027q4_legacy_demand
/operating_model/cells/base_2027q4_legacy_gross:base/formula/refs/1Nonebase_2027q4_core_margin
/operating_model/cells/base_2027q4_legacy_gross:base/idNonebase_2027q4_legacy_gross
/operating_model/cells/base_2027q4_legacy_gross:base/kindNonederived
/operating_model/cells/base_2027q4_legacy_gross:base/labelNoneLegacy gross profit
/operating_model/cells/base_2027q4_legacy_gross:base/periodNone2027Q4
/operating_model/cells/base_2027q4_legacy_gross:base/unitNoneUSD_millions
/operating_model/cells/base_2027q4_legacy_gross:base/valueNone22.0783325
/operating_model/cells/base_2027q4_metal_cost:base/basisNoneAt 100% pass-through, higher commodity prices do not create gross profit.
/operating_model/cells/base_2027q4_metal_cost:base/caseNonebase
/operating_model/cells/base_2027q4_metal_cost:base/formula/opNonemultiply
/operating_model/cells/base_2027q4_metal_cost:base/formula/refs/0Nonebase_2027q4_metal_pass
/operating_model/cells/base_2027q4_metal_cost:base/formula/refs/1Nonebase_2027q4_pass_cost_ratio
/operating_model/cells/base_2027q4_metal_cost:base/idNonebase_2027q4_metal_cost
/operating_model/cells/base_2027q4_metal_cost:base/kindNonederived
/operating_model/cells/base_2027q4_metal_cost:base/labelNoneMatched input price cost
/operating_model/cells/base_2027q4_metal_cost:base/periodNone2027Q4
/operating_model/cells/base_2027q4_metal_cost:base/unitNoneUSD_millions
/operating_model/cells/base_2027q4_metal_cost:base/valueNone6.0
/operating_model/cells/base_2027q4_metal_pass:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q4_metal_pass:base/caseNonebase
/operating_model/cells/base_2027q4_metal_pass:base/idNonebase_2027q4_metal_pass
/operating_model/cells/base_2027q4_metal_pass:base/kindNoneassumption
/operating_model/cells/base_2027q4_metal_pass:base/labelNoneIncremental raw-material price pass-through
/operating_model/cells/base_2027q4_metal_pass:base/periodNone2027Q4
/operating_model/cells/base_2027q4_metal_pass:base/unitNoneUSD_millions
/operating_model/cells/base_2027q4_metal_pass:base/valueNone6.0
/operating_model/cells/base_2027q4_new_pik_basis:base/basisNoneInitial 19-day approximate accrual; later tranches assumed late-quarter.
/operating_model/cells/base_2027q4_new_pik_basis:base/caseNonebase
/operating_model/cells/base_2027q4_new_pik_basis:base/formula/opNonemultiply
/operating_model/cells/base_2027q4_new_pik_basis:base/formula/refs/0Nonebase_2027q4_preferred_funding
/operating_model/cells/base_2027q4_new_pik_basis:base/formula/refs/1Nonebase_2027q4_funding_weight
/operating_model/cells/base_2027q4_new_pik_basis:base/idNonebase_2027q4_new_pik_basis
/operating_model/cells/base_2027q4_new_pik_basis:base/kindNonederived
/operating_model/cells/base_2027q4_new_pik_basis:base/labelNoneNew funding weighted for partial quarter
/operating_model/cells/base_2027q4_new_pik_basis:base/periodNone2027Q4
/operating_model/cells/base_2027q4_new_pik_basis:base/unitNoneUSD_millions
/operating_model/cells/base_2027q4_new_pik_basis:base/valueNone0.0
/operating_model/cells/base_2027q4_operating_cash_earnings:base/basisNoneNo debt forgiveness or financing gain.
/operating_model/cells/base_2027q4_operating_cash_earnings:base/caseNonebase
/operating_model/cells/base_2027q4_operating_cash_earnings:base/formula/opNonesum
/operating_model/cells/base_2027q4_operating_cash_earnings:base/formula/refs/0Nonebase_2027q4_operating_income
/operating_model/cells/base_2027q4_operating_cash_earnings:base/formula/refs/1Nonebase_2027q4_sbc
/operating_model/cells/base_2027q4_operating_cash_earnings:base/formula/refs/2Nonebase_2027q4_da
/operating_model/cells/base_2027q4_operating_cash_earnings:base/formula/refs/3Nonebase_2027q4_cash_interest_income
/operating_model/cells/base_2027q4_operating_cash_earnings:base/idNonebase_2027q4_operating_cash_earnings
/operating_model/cells/base_2027q4_operating_cash_earnings:base/kindNonederived
/operating_model/cells/base_2027q4_operating_cash_earnings:base/labelNoneOperating earnings plus noncash and interest
/operating_model/cells/base_2027q4_operating_cash_earnings:base/periodNone2027Q4
/operating_model/cells/base_2027q4_operating_cash_earnings:base/unitNoneUSD_millions
/operating_model/cells/base_2027q4_operating_cash_earnings:base/valueNone11.378332499999999
/operating_model/cells/base_2027q4_operating_income:base/basisNonePreferred PIK is below operating economics, not operating expense.
/operating_model/cells/base_2027q4_operating_income:base/caseNonebase
/operating_model/cells/base_2027q4_operating_income:base/formula/opNonesubtract
/operating_model/cells/base_2027q4_operating_income:base/formula/refs/0Nonebase_2027q4_gross_profit
/operating_model/cells/base_2027q4_operating_income:base/formula/refs/1Nonebase_2027q4_opex
/operating_model/cells/base_2027q4_operating_income:base/idNonebase_2027q4_operating_income
/operating_model/cells/base_2027q4_operating_income:base/kindNonederived
/operating_model/cells/base_2027q4_operating_income:base/labelNoneOperating income proxy
/operating_model/cells/base_2027q4_operating_income:base/periodNone2027Q4
/operating_model/cells/base_2027q4_operating_income:base/unitNoneUSD_millions
/operating_model/cells/base_2027q4_operating_income:base/valueNone1.878332499999999
/operating_model/cells/base_2027q4_opex:base/basisNoneNo repeat of H1 IPO SBC as if recurring every quarter.
/operating_model/cells/base_2027q4_opex:base/caseNonebase
/operating_model/cells/base_2027q4_opex:base/formula/opNonesum
/operating_model/cells/base_2027q4_opex:base/formula/refs/0Nonebase_2027q4_cash_opex
/operating_model/cells/base_2027q4_opex:base/formula/refs/1Nonebase_2027q4_sbc
/operating_model/cells/base_2027q4_opex:base/formula/refs/2Nonebase_2027q4_da
/operating_model/cells/base_2027q4_opex:base/formula/refs/3Nonebase_2027q4_cash_bonus
/operating_model/cells/base_2027q4_opex:base/idNonebase_2027q4_opex
/operating_model/cells/base_2027q4_opex:base/kindNonederived
/operating_model/cells/base_2027q4_opex:base/labelNoneCash overhead SBC and D&A
/operating_model/cells/base_2027q4_opex:base/periodNone2027Q4
/operating_model/cells/base_2027q4_opex:base/unitNoneUSD_millions
/operating_model/cells/base_2027q4_opex:base/valueNone25.0
/operating_model/cells/base_2027q4_pass_cost_ratio:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q4_pass_cost_ratio:base/caseNonebase
/operating_model/cells/base_2027q4_pass_cost_ratio:base/idNonebase_2027q4_pass_cost_ratio
/operating_model/cells/base_2027q4_pass_cost_ratio:base/kindNoneassumption
/operating_model/cells/base_2027q4_pass_cost_ratio:base/labelNoneInput-cost share of pass-through
/operating_model/cells/base_2027q4_pass_cost_ratio:base/periodNone2027Q4
/operating_model/cells/base_2027q4_pass_cost_ratio:base/unitNoneratio
/operating_model/cells/base_2027q4_pass_cost_ratio:base/valueNone1.0
/operating_model/cells/base_2027q4_pass_inventory_cash:base/basisNoneCommodity inflation can tie up cash despite matched gross profit.
/operating_model/cells/base_2027q4_pass_inventory_cash:base/caseNonebase
/operating_model/cells/base_2027q4_pass_inventory_cash:base/formula/opNonemultiply
/operating_model/cells/base_2027q4_pass_inventory_cash:base/formula/refs/0Nonebase_2027q4_metal_pass
/operating_model/cells/base_2027q4_pass_inventory_cash:base/formula/refs/1Nonebase_2027q4_inventory_price_fraction
/operating_model/cells/base_2027q4_pass_inventory_cash:base/idNonebase_2027q4_pass_inventory_cash
/operating_model/cells/base_2027q4_pass_inventory_cash:base/kindNonederived
/operating_model/cells/base_2027q4_pass_inventory_cash:base/labelNoneAdditional price-related inventory funding
/operating_model/cells/base_2027q4_pass_inventory_cash:base/periodNone2027Q4
/operating_model/cells/base_2027q4_pass_inventory_cash:base/unitNoneUSD_millions
/operating_model/cells/base_2027q4_pass_inventory_cash:base/valueNone3.0
/operating_model/cells/base_2027q4_pik_basis:base/basisNoneExisting balance includes prior PIK compounding.
/operating_model/cells/base_2027q4_pik_basis:base/caseNonebase
/operating_model/cells/base_2027q4_pik_basis:base/formula/opNonesum
/operating_model/cells/base_2027q4_pik_basis:base/formula/refs/0Nonebase_2027q3_preferred_ending
/operating_model/cells/base_2027q4_pik_basis:base/formula/refs/1Nonebase_2027q4_new_pik_basis
/operating_model/cells/base_2027q4_pik_basis:base/idNonebase_2027q4_pik_basis
/operating_model/cells/base_2027q4_pik_basis:base/kindNonederived
/operating_model/cells/base_2027q4_pik_basis:base/labelNoneWeighted preferred claim for PIK
/operating_model/cells/base_2027q4_pik_basis:base/periodNone2027Q4
/operating_model/cells/base_2027q4_pik_basis:base/unitNoneUSD_millions
/operating_model/cells/base_2027q4_pik_basis:base/valueNone313.56833683530414
/operating_model/cells/base_2027q4_preferred_ending:base/basisNoneStock balance, not an annual flow; ignores warrant-linked liquidation preference reductions.
/operating_model/cells/base_2027q4_preferred_ending:base/caseNonebase
/operating_model/cells/base_2027q4_preferred_ending:base/formula/opNonesum
/operating_model/cells/base_2027q4_preferred_ending:base/formula/refs/0Nonebase_2027q3_preferred_ending
/operating_model/cells/base_2027q4_preferred_ending:base/formula/refs/1Nonebase_2027q4_preferred_funding
/operating_model/cells/base_2027q4_preferred_ending:base/formula/refs/2Nonebase_2027q4_preferred_pik
/operating_model/cells/base_2027q4_preferred_ending:base/idNonebase_2027q4_preferred_ending
/operating_model/cells/base_2027q4_preferred_ending:base/kindNonederived
/operating_model/cells/base_2027q4_preferred_ending:base/labelNoneEnding preferred claim before warrant adjustments
/operating_model/cells/base_2027q4_preferred_ending:base/periodNone2027Q4
/operating_model/cells/base_2027q4_preferred_ending:base/unitNoneUSD_millions
/operating_model/cells/base_2027q4_preferred_ending:base/valueNone317.8799014667896
/operating_model/cells/base_2027q4_preferred_funding:base/basisNoneInitial $200M received September 14; any later $50M receipt is conditional and respects six-month tranche availability.
/operating_model/cells/base_2027q4_preferred_funding:base/caseNonebase
/operating_model/cells/base_2027q4_preferred_funding:base/idNonebase_2027q4_preferred_funding
/operating_model/cells/base_2027q4_preferred_funding:base/kindNoneassumption
/operating_model/cells/base_2027q4_preferred_funding:base/labelNonePreferred financing receipts
/operating_model/cells/base_2027q4_preferred_funding:base/periodNone2027Q4
/operating_model/cells/base_2027q4_preferred_funding:base/unitNoneUSD_millions
/operating_model/cells/base_2027q4_preferred_funding:base/valueNone0.0
/operating_model/cells/base_2027q4_preferred_pik:base/basisNoneNoncash senior claim; no deduction from current-period cash.
/operating_model/cells/base_2027q4_preferred_pik:base/caseNonebase
/operating_model/cells/base_2027q4_preferred_pik:base/formula/opNonemultiply
/operating_model/cells/base_2027q4_preferred_pik:base/formula/refs/0Nonebase_2027q4_pik_basis
/operating_model/cells/base_2027q4_preferred_pik:base/formula/refs/1Nonepreferred_rate
/operating_model/cells/base_2027q4_preferred_pik:base/formula/refs/2Nonebase_2027q4_quarter_year
/operating_model/cells/base_2027q4_preferred_pik:base/idNonebase_2027q4_preferred_pik
/operating_model/cells/base_2027q4_preferred_pik:base/kindNonederived
/operating_model/cells/base_2027q4_preferred_pik:base/labelNonePreferred economic PIK accrual
/operating_model/cells/base_2027q4_preferred_pik:base/periodNone2027Q4
/operating_model/cells/base_2027q4_preferred_pik:base/unitNoneUSD_millions
/operating_model/cells/base_2027q4_preferred_pik:base/valueNone4.311564631485432
/operating_model/cells/base_2027q4_price_gross:base/basisNoneMismatch sensitivity is explicit.
/operating_model/cells/base_2027q4_price_gross:base/caseNonebase
/operating_model/cells/base_2027q4_price_gross:base/formula/opNonesubtract
/operating_model/cells/base_2027q4_price_gross:base/formula/refs/0Nonebase_2027q4_metal_pass
/operating_model/cells/base_2027q4_price_gross:base/formula/refs/1Nonebase_2027q4_metal_cost
/operating_model/cells/base_2027q4_price_gross:base/idNonebase_2027q4_price_gross
/operating_model/cells/base_2027q4_price_gross:base/kindNonederived
/operating_model/cells/base_2027q4_price_gross:base/labelNoneIncremental price pass-through gross profit
/operating_model/cells/base_2027q4_price_gross:base/periodNone2027Q4
/operating_model/cells/base_2027q4_price_gross:base/unitNoneUSD_millions
/operating_model/cells/base_2027q4_price_gross:base/valueNone0.0
/operating_model/cells/base_2027q4_quarter_year:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q4_quarter_year:base/caseNonebase
/operating_model/cells/base_2027q4_quarter_year:base/idNonebase_2027q4_quarter_year
/operating_model/cells/base_2027q4_quarter_year:base/kindNoneassumption
/operating_model/cells/base_2027q4_quarter_year:base/labelNoneQuarter-year fraction
/operating_model/cells/base_2027q4_quarter_year:base/periodNone2027Q4
/operating_model/cells/base_2027q4_quarter_year:base/unitNoneratio
/operating_model/cells/base_2027q4_quarter_year:base/valueNone0.25
/operating_model/cells/base_2027q4_raw_prepay:base/basisNoneDesk first and milestone-conditioned second $25M funding; later negative amounts are consumption/settlement credits, not new revenue.
/operating_model/cells/base_2027q4_raw_prepay:base/caseNonebase
/operating_model/cells/base_2027q4_raw_prepay:base/idNonebase_2027q4_raw_prepay
/operating_model/cells/base_2027q4_raw_prepay:base/kindNoneassumption
/operating_model/cells/base_2027q4_raw_prepay:base/labelNoneNet new raw-material prepayments
/operating_model/cells/base_2027q4_raw_prepay:base/periodNone2027Q4
/operating_model/cells/base_2027q4_raw_prepay:base/unitNoneUSD_millions
/operating_model/cells/base_2027q4_raw_prepay:base/valueNone-2.0
/operating_model/cells/base_2027q4_revenue:base/basisNoneNo recognition of preferred funding as revenue.
/operating_model/cells/base_2027q4_revenue:base/caseNonebase
/operating_model/cells/base_2027q4_revenue:base/formula/opNonesum
/operating_model/cells/base_2027q4_revenue:base/formula/refs/0Nonebase_2027q4_core_revenue
/operating_model/cells/base_2027q4_revenue:base/formula/refs/1Nonebase_2027q4_stockpile_revenue
/operating_model/cells/base_2027q4_revenue:base/idNonebase_2027q4_revenue
/operating_model/cells/base_2027q4_revenue:base/kindNonederived
/operating_model/cells/base_2027q4_revenue:base/labelNoneTotal revenue
/operating_model/cells/base_2027q4_revenue:base/periodNone2027Q4
/operating_model/cells/base_2027q4_revenue:base/unitNoneUSD_millions
/operating_model/cells/base_2027q4_revenue:base/valueNone129.31333
/operating_model/cells/base_2027q4_sbc:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q4_sbc:base/caseNonebase
/operating_model/cells/base_2027q4_sbc:base/idNonebase_2027q4_sbc
/operating_model/cells/base_2027q4_sbc:base/kindNoneassumption
/operating_model/cells/base_2027q4_sbc:base/labelNoneSBC
/operating_model/cells/base_2027q4_sbc:base/periodNone2027Q4
/operating_model/cells/base_2027q4_sbc:base/unitNoneUSD_millions
/operating_model/cells/base_2027q4_sbc:base/valueNone3.0
/operating_model/cells/base_2027q4_stock_margin:base/basisNoneDesk assumption; not company guidance.
/operating_model/cells/base_2027q4_stock_margin:base/caseNonebase
/operating_model/cells/base_2027q4_stock_margin:base/idNonebase_2027q4_stock_margin
/operating_model/cells/base_2027q4_stock_margin:base/kindNoneassumption
/operating_model/cells/base_2027q4_stock_margin:base/labelNoneStockpile gross margin
/operating_model/cells/base_2027q4_stock_margin:base/periodNone2027Q4
/operating_model/cells/base_2027q4_stock_margin:base/unitNoneratio
/operating_model/cells/base_2027q4_stock_margin:base/valueNone0.12
/operating_model/cells/base_2027q4_stockpile_gross:base/basisNoneProcured input cost is reflected in margin; no unsupported floor-price assumption.
/operating_model/cells/base_2027q4_stockpile_gross:base/caseNonebase
/operating_model/cells/base_2027q4_stockpile_gross:base/formula/opNonemultiply
/operating_model/cells/base_2027q4_stockpile_gross:base/formula/refs/0Nonebase_2027q4_stockpile_revenue
/operating_model/cells/base_2027q4_stockpile_gross:base/formula/refs/1Nonebase_2027q4_stock_margin
/operating_model/cells/base_2027q4_stockpile_gross:base/idNonebase_2027q4_stockpile_gross
/operating_model/cells/base_2027q4_stockpile_gross:base/kindNonederived
/operating_model/cells/base_2027q4_stockpile_gross:base/labelNoneStockpile gross contribution
/operating_model/cells/base_2027q4_stockpile_gross:base/periodNone2027Q4
/operating_model/cells/base_2027q4_stockpile_gross:base/unitNoneUSD_millions
/operating_model/cells/base_2027q4_stockpile_gross:base/valueNone3.0
/operating_model/cells/base_2027q4_stockpile_revenue:base/basisNoneSupply-qualified delivery assumption, not pro-rata recognition of the contract ceiling or minimum.
/operating_model/cells/base_2027q4_stockpile_revenue:base/caseNonebase
/operating_model/cells/base_2027q4_stockpile_revenue:base/idNonebase_2027q4_stockpile_revenue
/operating_model/cells/base_2027q4_stockpile_revenue:base/kindNoneassumption
/operating_model/cells/base_2027q4_stockpile_revenue:base/labelNoneAccepted incremental stockpile deliveries
/operating_model/cells/base_2027q4_stockpile_revenue:base/periodNone2027Q4
/operating_model/cells/base_2027q4_stockpile_revenue:base/unitNoneUSD_millions
/operating_model/cells/base_2027q4_stockpile_revenue:base/valueNone25.0
/operating_model/cells/base_2027q4_strategic_cash:base/basisNonePrepaid input consumption cash credits avoid charging both historical prepayment and subsequent COGS cash without adjustment.
/operating_model/cells/base_2027q4_strategic_cash:base/caseNonebase
/operating_model/cells/base_2027q4_strategic_cash:base/formula/opNonesum
/operating_model/cells/base_2027q4_strategic_cash:base/formula/refs/0Nonebase_2027q4_blue_moon
/operating_model/cells/base_2027q4_strategic_cash:base/formula/refs/1Nonebase_2027q4_raw_prepay
/operating_model/cells/base_2027q4_strategic_cash:base/formula/refs/2Nonebase_2027q4_german_price
/operating_model/cells/base_2027q4_strategic_cash:base/idNonebase_2027q4_strategic_cash
/operating_model/cells/base_2027q4_strategic_cash:base/kindNonederived
/operating_model/cells/base_2027q4_strategic_cash:base/labelNoneMinority prepayment and acquisition cash
/operating_model/cells/base_2027q4_strategic_cash:base/periodNone2027Q4
/operating_model/cells/base_2027q4_strategic_cash:base/unitNoneUSD_millions
/operating_model/cells/base_2027q4_strategic_cash:base/valueNone-2.0
/operating_model/cells/base_fy2026_capex:base/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/base_fy2026_capex:base/caseNonebase
/operating_model/cells/base_fy2026_capex:base/formula/opNonesum
/operating_model/cells/base_fy2026_capex:base/formula/refs/0Noneh1_capex
/operating_model/cells/base_fy2026_capex:base/formula/refs/1Nonebase_2026q3_capex
/operating_model/cells/base_fy2026_capex:base/formula/refs/2Nonebase_2026q4_capex
/operating_model/cells/base_fy2026_capex:base/idNonebase_fy2026_capex
/operating_model/cells/base_fy2026_capex:base/kindNonederived
/operating_model/cells/base_fy2026_capex:base/labelNoneNet cash PP&E including controlled JV ($M)
/operating_model/cells/base_fy2026_capex:base/periodNoneFY2026
/operating_model/cells/base_fy2026_capex:base/unitNoneUSD_millions
/operating_model/cells/base_fy2026_capex:base/valueNone43.141
/operating_model/cells/base_fy2026_cash_after_funding:base/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/base_fy2026_cash_after_funding:base/caseNonebase
/operating_model/cells/base_fy2026_cash_after_funding:base/formula/opNonesum
/operating_model/cells/base_fy2026_cash_after_funding:base/formula/refs/0Noneh1_cash_after_funding
/operating_model/cells/base_fy2026_cash_after_funding:base/formula/refs/1Nonebase_2026q3_cash_after_funding
/operating_model/cells/base_fy2026_cash_after_funding:base/formula/refs/2Nonebase_2026q4_cash_after_funding
/operating_model/cells/base_fy2026_cash_after_funding:base/idNonebase_fy2026_cash_after_funding
/operating_model/cells/base_fy2026_cash_after_funding:base/kindNonederived
/operating_model/cells/base_fy2026_cash_after_funding:base/labelNoneCash after preferred funding ($M)
/operating_model/cells/base_fy2026_cash_after_funding:base/periodNoneFY2026
/operating_model/cells/base_fy2026_cash_after_funding:base/unitNoneUSD_millions
/operating_model/cells/base_fy2026_cash_after_funding:base/valueNone65.0015375
/operating_model/cells/base_fy2026_cash_after_investing:base/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/base_fy2026_cash_after_investing:base/caseNonebase
/operating_model/cells/base_fy2026_cash_after_investing:base/formula/opNonesum
/operating_model/cells/base_fy2026_cash_after_investing:base/formula/refs/0Noneh1_cash_after_investing
/operating_model/cells/base_fy2026_cash_after_investing:base/formula/refs/1Nonebase_2026q3_cash_after_investing
/operating_model/cells/base_fy2026_cash_after_investing:base/formula/refs/2Nonebase_2026q4_cash_after_investing
/operating_model/cells/base_fy2026_cash_after_investing:base/idNonebase_fy2026_cash_after_investing
/operating_model/cells/base_fy2026_cash_after_investing:base/kindNonederived
/operating_model/cells/base_fy2026_cash_after_investing:base/labelNoneCash after business investing ($M)
/operating_model/cells/base_fy2026_cash_after_investing:base/periodNoneFY2026
/operating_model/cells/base_fy2026_cash_after_investing:base/unitNoneUSD_millions
/operating_model/cells/base_fy2026_cash_after_investing:base/valueNone-134.99846250000002
/operating_model/cells/base_fy2026_cfo:base/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/base_fy2026_cfo:base/caseNonebase
/operating_model/cells/base_fy2026_cfo:base/formula/opNonesum
/operating_model/cells/base_fy2026_cfo:base/formula/refs/0Noneh1_cfo
/operating_model/cells/base_fy2026_cfo:base/formula/refs/1Nonebase_2026q3_cfo
/operating_model/cells/base_fy2026_cfo:base/formula/refs/2Nonebase_2026q4_cfo
/operating_model/cells/base_fy2026_cfo:base/idNonebase_fy2026_cfo
/operating_model/cells/base_fy2026_cfo:base/kindNonederived
/operating_model/cells/base_fy2026_cfo:base/labelNoneOperating cash flow proxy ($M)
/operating_model/cells/base_fy2026_cfo:base/periodNoneFY2026
/operating_model/cells/base_fy2026_cfo:base/unitNoneUSD_millions
/operating_model/cells/base_fy2026_cfo:base/valueNone-39.8814625
/operating_model/cells/base_fy2026_core_revenue:base/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/base_fy2026_core_revenue:base/caseNonebase
/operating_model/cells/base_fy2026_core_revenue:base/formula/opNonesum
/operating_model/cells/base_fy2026_core_revenue:base/formula/refs/0Noneh1_core_revenue
/operating_model/cells/base_fy2026_core_revenue:base/formula/refs/1Nonebase_2026q3_core_revenue
/operating_model/cells/base_fy2026_core_revenue:base/formula/refs/2Nonebase_2026q4_core_revenue
/operating_model/cells/base_fy2026_core_revenue:base/idNonebase_fy2026_core_revenue
/operating_model/cells/base_fy2026_core_revenue:base/kindNonederived
/operating_model/cells/base_fy2026_core_revenue:base/labelNoneCore and acquired component revenue ($M)
/operating_model/cells/base_fy2026_core_revenue:base/periodNoneFY2026
/operating_model/cells/base_fy2026_core_revenue:base/unitNoneUSD_millions
/operating_model/cells/base_fy2026_core_revenue:base/valueNone283.17015000000004
/operating_model/cells/base_fy2026_gross_profit:base/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/base_fy2026_gross_profit:base/caseNonebase
/operating_model/cells/base_fy2026_gross_profit:base/formula/opNonesum
/operating_model/cells/base_fy2026_gross_profit:base/formula/refs/0Noneh1_gross_profit
/operating_model/cells/base_fy2026_gross_profit:base/formula/refs/1Nonebase_2026q3_gross_profit
/operating_model/cells/base_fy2026_gross_profit:base/formula/refs/2Nonebase_2026q4_gross_profit
/operating_model/cells/base_fy2026_gross_profit:base/idNonebase_fy2026_gross_profit
/operating_model/cells/base_fy2026_gross_profit:base/kindNonederived
/operating_model/cells/base_fy2026_gross_profit:base/labelNoneGross profit proxy ($M)
/operating_model/cells/base_fy2026_gross_profit:base/periodNoneFY2026
/operating_model/cells/base_fy2026_gross_profit:base/unitNoneUSD_millions
/operating_model/cells/base_fy2026_gross_profit:base/valueNone64.1485375
/operating_model/cells/base_fy2026_operating_income:base/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/base_fy2026_operating_income:base/caseNonebase
/operating_model/cells/base_fy2026_operating_income:base/formula/opNonesum
/operating_model/cells/base_fy2026_operating_income:base/formula/refs/0Noneh1_operating_income
/operating_model/cells/base_fy2026_operating_income:base/formula/refs/1Nonebase_2026q3_operating_income
/operating_model/cells/base_fy2026_operating_income:base/formula/refs/2Nonebase_2026q4_operating_income
/operating_model/cells/base_fy2026_operating_income:base/idNonebase_fy2026_operating_income
/operating_model/cells/base_fy2026_operating_income:base/kindNonederived
/operating_model/cells/base_fy2026_operating_income:base/labelNoneOperating income proxy ($M)
/operating_model/cells/base_fy2026_operating_income:base/periodNoneFY2026
/operating_model/cells/base_fy2026_operating_income:base/unitNoneUSD_millions
/operating_model/cells/base_fy2026_operating_income:base/valueNone-3.874462499999999
/operating_model/cells/base_fy2026_preferred_funding:base/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/base_fy2026_preferred_funding:base/caseNonebase
/operating_model/cells/base_fy2026_preferred_funding:base/formula/opNonesum
/operating_model/cells/base_fy2026_preferred_funding:base/formula/refs/0Noneh1_preferred_funding
/operating_model/cells/base_fy2026_preferred_funding:base/formula/refs/1Nonebase_2026q3_preferred_funding
/operating_model/cells/base_fy2026_preferred_funding:base/formula/refs/2Nonebase_2026q4_preferred_funding
/operating_model/cells/base_fy2026_preferred_funding:base/idNonebase_fy2026_preferred_funding
/operating_model/cells/base_fy2026_preferred_funding:base/kindNonederived
/operating_model/cells/base_fy2026_preferred_funding:base/labelNonePreferred funding cash ($M)
/operating_model/cells/base_fy2026_preferred_funding:base/periodNoneFY2026
/operating_model/cells/base_fy2026_preferred_funding:base/unitNoneUSD_millions
/operating_model/cells/base_fy2026_preferred_funding:base/valueNone200.0
/operating_model/cells/base_fy2026_preferred_pik:base/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/base_fy2026_preferred_pik:base/caseNonebase
/operating_model/cells/base_fy2026_preferred_pik:base/formula/opNonesum
/operating_model/cells/base_fy2026_preferred_pik:base/formula/refs/0Noneh1_preferred_pik
/operating_model/cells/base_fy2026_preferred_pik:base/formula/refs/1Nonebase_2026q3_preferred_pik
/operating_model/cells/base_fy2026_preferred_pik:base/formula/refs/2Nonebase_2026q4_preferred_pik
/operating_model/cells/base_fy2026_preferred_pik:base/idNonebase_fy2026_preferred_pik
/operating_model/cells/base_fy2026_preferred_pik:base/kindNonederived
/operating_model/cells/base_fy2026_preferred_pik:base/labelNonePreferred PIK economic accrual ($M)
/operating_model/cells/base_fy2026_preferred_pik:base/periodNoneFY2026
/operating_model/cells/base_fy2026_preferred_pik:base/unitNoneUSD_millions
/operating_model/cells/base_fy2026_preferred_pik:base/valueNone3.332070741758242
/operating_model/cells/base_fy2026_revenue:base/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/base_fy2026_revenue:base/caseNonebase
/operating_model/cells/base_fy2026_revenue:base/formula/opNonesum
/operating_model/cells/base_fy2026_revenue:base/formula/refs/0Noneh1_revenue
/operating_model/cells/base_fy2026_revenue:base/formula/refs/1Nonebase_2026q3_revenue
/operating_model/cells/base_fy2026_revenue:base/formula/refs/2Nonebase_2026q4_revenue
/operating_model/cells/base_fy2026_revenue:base/idNonebase_fy2026_revenue
/operating_model/cells/base_fy2026_revenue:base/kindNonederived
/operating_model/cells/base_fy2026_revenue:base/labelNoneTotal revenue ($M)
/operating_model/cells/base_fy2026_revenue:base/periodNoneFY2026
/operating_model/cells/base_fy2026_revenue:base/unitNoneUSD_millions
/operating_model/cells/base_fy2026_revenue:base/valueNone283.17015000000004
/operating_model/cells/base_fy2026_stockpile_revenue:base/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/base_fy2026_stockpile_revenue:base/caseNonebase
/operating_model/cells/base_fy2026_stockpile_revenue:base/formula/opNonesum
/operating_model/cells/base_fy2026_stockpile_revenue:base/formula/refs/0Noneh1_stockpile_revenue
/operating_model/cells/base_fy2026_stockpile_revenue:base/formula/refs/1Nonebase_2026q3_stockpile_revenue
/operating_model/cells/base_fy2026_stockpile_revenue:base/formula/refs/2Nonebase_2026q4_stockpile_revenue
/operating_model/cells/base_fy2026_stockpile_revenue:base/idNonebase_fy2026_stockpile_revenue
/operating_model/cells/base_fy2026_stockpile_revenue:base/kindNonederived
/operating_model/cells/base_fy2026_stockpile_revenue:base/labelNoneAccepted stockpile deliveries ($M)
/operating_model/cells/base_fy2026_stockpile_revenue:base/periodNoneFY2026
/operating_model/cells/base_fy2026_stockpile_revenue:base/unitNoneUSD_millions
/operating_model/cells/base_fy2026_stockpile_revenue:base/valueNone0.0
/operating_model/cells/base_fy2026_strategic_cash:base/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/base_fy2026_strategic_cash:base/caseNonebase
/operating_model/cells/base_fy2026_strategic_cash:base/formula/opNonesum
/operating_model/cells/base_fy2026_strategic_cash:base/formula/refs/0Noneh1_strategic_cash
/operating_model/cells/base_fy2026_strategic_cash:base/formula/refs/1Nonebase_2026q3_strategic_cash
/operating_model/cells/base_fy2026_strategic_cash:base/formula/refs/2Nonebase_2026q4_strategic_cash
/operating_model/cells/base_fy2026_strategic_cash:base/idNonebase_fy2026_strategic_cash
/operating_model/cells/base_fy2026_strategic_cash:base/kindNonederived
/operating_model/cells/base_fy2026_strategic_cash:base/labelNonePrepayments minority/acquisition cash ($M)
/operating_model/cells/base_fy2026_strategic_cash:base/periodNoneFY2026
/operating_model/cells/base_fy2026_strategic_cash:base/unitNoneUSD_millions
/operating_model/cells/base_fy2026_strategic_cash:base/valueNone51.976
/operating_model/cells/base_fy2027_capex:base/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/base_fy2027_capex:base/caseNonebase
/operating_model/cells/base_fy2027_capex:base/formula/opNonesum
/operating_model/cells/base_fy2027_capex:base/formula/refs/0Nonebase_2027q1_capex
/operating_model/cells/base_fy2027_capex:base/formula/refs/1Nonebase_2027q2_capex
/operating_model/cells/base_fy2027_capex:base/formula/refs/2Nonebase_2027q3_capex
/operating_model/cells/base_fy2027_capex:base/formula/refs/3Nonebase_2027q4_capex
/operating_model/cells/base_fy2027_capex:base/idNonebase_fy2027_capex
/operating_model/cells/base_fy2027_capex:base/kindNonederived
/operating_model/cells/base_fy2027_capex:base/labelNoneNet cash PP&E including controlled JV ($M)
/operating_model/cells/base_fy2027_capex:base/periodNoneFY2027
/operating_model/cells/base_fy2027_capex:base/unitNoneUSD_millions
/operating_model/cells/base_fy2027_capex:base/valueNone190.0
/operating_model/cells/base_fy2027_cash_after_funding:base/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/base_fy2027_cash_after_funding:base/caseNonebase
/operating_model/cells/base_fy2027_cash_after_funding:base/formula/opNonesum
/operating_model/cells/base_fy2027_cash_after_funding:base/formula/refs/0Nonebase_2027q1_cash_after_funding
/operating_model/cells/base_fy2027_cash_after_funding:base/formula/refs/1Nonebase_2027q2_cash_after_funding
/operating_model/cells/base_fy2027_cash_after_funding:base/formula/refs/2Nonebase_2027q3_cash_after_funding
/operating_model/cells/base_fy2027_cash_after_funding:base/formula/refs/3Nonebase_2027q4_cash_after_funding
/operating_model/cells/base_fy2027_cash_after_funding:base/idNonebase_fy2027_cash_after_funding
/operating_model/cells/base_fy2027_cash_after_funding:base/kindNonederived
/operating_model/cells/base_fy2027_cash_after_funding:base/labelNoneCash after preferred funding ($M)
/operating_model/cells/base_fy2027_cash_after_funding:base/periodNoneFY2027
/operating_model/cells/base_fy2027_cash_after_funding:base/unitNoneUSD_millions
/operating_model/cells/base_fy2027_cash_after_funding:base/valueNone-211.74825499999997
/operating_model/cells/base_fy2027_cash_after_investing:base/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/base_fy2027_cash_after_investing:base/caseNonebase
/operating_model/cells/base_fy2027_cash_after_investing:base/formula/opNonesum
/operating_model/cells/base_fy2027_cash_after_investing:base/formula/refs/0Nonebase_2027q1_cash_after_investing
/operating_model/cells/base_fy2027_cash_after_investing:base/formula/refs/1Nonebase_2027q2_cash_after_investing
/operating_model/cells/base_fy2027_cash_after_investing:base/formula/refs/2Nonebase_2027q3_cash_after_investing
/operating_model/cells/base_fy2027_cash_after_investing:base/formula/refs/3Nonebase_2027q4_cash_after_investing
/operating_model/cells/base_fy2027_cash_after_investing:base/idNonebase_fy2027_cash_after_investing
/operating_model/cells/base_fy2027_cash_after_investing:base/kindNonederived
/operating_model/cells/base_fy2027_cash_after_investing:base/labelNoneCash after business investing ($M)
/operating_model/cells/base_fy2027_cash_after_investing:base/periodNoneFY2027
/operating_model/cells/base_fy2027_cash_after_investing:base/unitNoneUSD_millions
/operating_model/cells/base_fy2027_cash_after_investing:base/valueNone-311.74825500000003
/operating_model/cells/base_fy2027_cfo:base/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/base_fy2027_cfo:base/caseNonebase
/operating_model/cells/base_fy2027_cfo:base/formula/opNonesum
/operating_model/cells/base_fy2027_cfo:base/formula/refs/0Nonebase_2027q1_cfo
/operating_model/cells/base_fy2027_cfo:base/formula/refs/1Nonebase_2027q2_cfo
/operating_model/cells/base_fy2027_cfo:base/formula/refs/2Nonebase_2027q3_cfo
/operating_model/cells/base_fy2027_cfo:base/formula/refs/3Nonebase_2027q4_cfo
/operating_model/cells/base_fy2027_cfo:base/idNonebase_fy2027_cfo
/operating_model/cells/base_fy2027_cfo:base/kindNonederived
/operating_model/cells/base_fy2027_cfo:base/labelNoneOperating cash flow proxy ($M)
/operating_model/cells/base_fy2027_cfo:base/periodNoneFY2027
/operating_model/cells/base_fy2027_cfo:base/unitNoneUSD_millions
/operating_model/cells/base_fy2027_cfo:base/valueNone-98.41075500000001
/operating_model/cells/base_fy2027_core_revenue:base/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/base_fy2027_core_revenue:base/caseNonebase
/operating_model/cells/base_fy2027_core_revenue:base/formula/opNonesum
/operating_model/cells/base_fy2027_core_revenue:base/formula/refs/0Nonebase_2027q1_core_revenue
/operating_model/cells/base_fy2027_core_revenue:base/formula/refs/1Nonebase_2027q2_core_revenue
/operating_model/cells/base_fy2027_core_revenue:base/formula/refs/2Nonebase_2027q3_core_revenue
/operating_model/cells/base_fy2027_core_revenue:base/formula/refs/3Nonebase_2027q4_core_revenue
/operating_model/cells/base_fy2027_core_revenue:base/idNonebase_fy2027_core_revenue
/operating_model/cells/base_fy2027_core_revenue:base/kindNonederived
/operating_model/cells/base_fy2027_core_revenue:base/labelNoneCore and acquired component revenue ($M)
/operating_model/cells/base_fy2027_core_revenue:base/periodNoneFY2027
/operating_model/cells/base_fy2027_core_revenue:base/unitNoneUSD_millions
/operating_model/cells/base_fy2027_core_revenue:base/valueNone390.67698
/operating_model/cells/base_fy2027_gross_profit:base/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/base_fy2027_gross_profit:base/caseNonebase
/operating_model/cells/base_fy2027_gross_profit:base/formula/opNonesum
/operating_model/cells/base_fy2027_gross_profit:base/formula/refs/0Nonebase_2027q1_gross_profit
/operating_model/cells/base_fy2027_gross_profit:base/formula/refs/1Nonebase_2027q2_gross_profit
/operating_model/cells/base_fy2027_gross_profit:base/formula/refs/2Nonebase_2027q3_gross_profit
/operating_model/cells/base_fy2027_gross_profit:base/formula/refs/3Nonebase_2027q4_gross_profit
/operating_model/cells/base_fy2027_gross_profit:base/idNonebase_fy2027_gross_profit
/operating_model/cells/base_fy2027_gross_profit:base/kindNonederived
/operating_model/cells/base_fy2027_gross_profit:base/labelNoneGross profit proxy ($M)
/operating_model/cells/base_fy2027_gross_profit:base/periodNoneFY2027
/operating_model/cells/base_fy2027_gross_profit:base/unitNoneUSD_millions
/operating_model/cells/base_fy2027_gross_profit:base/valueNone93.289245
/operating_model/cells/base_fy2027_operating_income:base/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/base_fy2027_operating_income:base/caseNonebase
/operating_model/cells/base_fy2027_operating_income:base/formula/opNonesum
/operating_model/cells/base_fy2027_operating_income:base/formula/refs/0Nonebase_2027q1_operating_income
/operating_model/cells/base_fy2027_operating_income:base/formula/refs/1Nonebase_2027q2_operating_income
/operating_model/cells/base_fy2027_operating_income:base/formula/refs/2Nonebase_2027q3_operating_income
/operating_model/cells/base_fy2027_operating_income:base/formula/refs/3Nonebase_2027q4_operating_income
/operating_model/cells/base_fy2027_operating_income:base/idNonebase_fy2027_operating_income
/operating_model/cells/base_fy2027_operating_income:base/kindNonederived
/operating_model/cells/base_fy2027_operating_income:base/labelNoneOperating income proxy ($M)
/operating_model/cells/base_fy2027_operating_income:base/periodNoneFY2027
/operating_model/cells/base_fy2027_operating_income:base/unitNoneUSD_millions
/operating_model/cells/base_fy2027_operating_income:base/valueNone1.0892450000000018
/operating_model/cells/base_fy2027_preferred_funding:base/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/base_fy2027_preferred_funding:base/caseNonebase
/operating_model/cells/base_fy2027_preferred_funding:base/formula/opNonesum
/operating_model/cells/base_fy2027_preferred_funding:base/formula/refs/0Nonebase_2027q1_preferred_funding
/operating_model/cells/base_fy2027_preferred_funding:base/formula/refs/1Nonebase_2027q2_preferred_funding
/operating_model/cells/base_fy2027_preferred_funding:base/formula/refs/2Nonebase_2027q3_preferred_funding
/operating_model/cells/base_fy2027_preferred_funding:base/formula/refs/3Nonebase_2027q4_preferred_funding
/operating_model/cells/base_fy2027_preferred_funding:base/idNonebase_fy2027_preferred_funding
/operating_model/cells/base_fy2027_preferred_funding:base/kindNonederived
/operating_model/cells/base_fy2027_preferred_funding:base/labelNonePreferred funding cash ($M)
/operating_model/cells/base_fy2027_preferred_funding:base/periodNoneFY2027
/operating_model/cells/base_fy2027_preferred_funding:base/unitNoneUSD_millions
/operating_model/cells/base_fy2027_preferred_funding:base/valueNone100.0
/operating_model/cells/base_fy2027_preferred_pik:base/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/base_fy2027_preferred_pik:base/caseNonebase
/operating_model/cells/base_fy2027_preferred_pik:base/formula/opNonesum
/operating_model/cells/base_fy2027_preferred_pik:base/formula/refs/0Nonebase_2027q1_preferred_pik
/operating_model/cells/base_fy2027_preferred_pik:base/formula/refs/1Nonebase_2027q2_preferred_pik
/operating_model/cells/base_fy2027_preferred_pik:base/formula/refs/2Nonebase_2027q3_preferred_pik
/operating_model/cells/base_fy2027_preferred_pik:base/formula/refs/3Nonebase_2027q4_preferred_pik
/operating_model/cells/base_fy2027_preferred_pik:base/idNonebase_fy2027_preferred_pik
/operating_model/cells/base_fy2027_preferred_pik:base/kindNonederived
/operating_model/cells/base_fy2027_preferred_pik:base/labelNonePreferred PIK economic accrual ($M)
/operating_model/cells/base_fy2027_preferred_pik:base/periodNoneFY2027
/operating_model/cells/base_fy2027_preferred_pik:base/unitNoneUSD_millions
/operating_model/cells/base_fy2027_preferred_pik:base/valueNone14.547830725031325
/operating_model/cells/base_fy2027_revenue:base/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/base_fy2027_revenue:base/caseNonebase
/operating_model/cells/base_fy2027_revenue:base/formula/opNonesum
/operating_model/cells/base_fy2027_revenue:base/formula/refs/0Nonebase_2027q1_revenue
/operating_model/cells/base_fy2027_revenue:base/formula/refs/1Nonebase_2027q2_revenue
/operating_model/cells/base_fy2027_revenue:base/formula/refs/2Nonebase_2027q3_revenue
/operating_model/cells/base_fy2027_revenue:base/formula/refs/3Nonebase_2027q4_revenue
/operating_model/cells/base_fy2027_revenue:base/idNonebase_fy2027_revenue
/operating_model/cells/base_fy2027_revenue:base/kindNonederived
/operating_model/cells/base_fy2027_revenue:base/labelNoneTotal revenue ($M)
/operating_model/cells/base_fy2027_revenue:base/periodNoneFY2027
/operating_model/cells/base_fy2027_revenue:base/unitNoneUSD_millions
/operating_model/cells/base_fy2027_revenue:base/valueNone435.67698
/operating_model/cells/base_fy2027_stockpile_revenue:base/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/base_fy2027_stockpile_revenue:base/caseNonebase
/operating_model/cells/base_fy2027_stockpile_revenue:base/formula/opNonesum
/operating_model/cells/base_fy2027_stockpile_revenue:base/formula/refs/0Nonebase_2027q1_stockpile_revenue
/operating_model/cells/base_fy2027_stockpile_revenue:base/formula/refs/1Nonebase_2027q2_stockpile_revenue
/operating_model/cells/base_fy2027_stockpile_revenue:base/formula/refs/2Nonebase_2027q3_stockpile_revenue
/operating_model/cells/base_fy2027_stockpile_revenue:base/formula/refs/3Nonebase_2027q4_stockpile_revenue
/operating_model/cells/base_fy2027_stockpile_revenue:base/idNonebase_fy2027_stockpile_revenue
/operating_model/cells/base_fy2027_stockpile_revenue:base/kindNonederived
/operating_model/cells/base_fy2027_stockpile_revenue:base/labelNoneAccepted stockpile deliveries ($M)
/operating_model/cells/base_fy2027_stockpile_revenue:base/periodNoneFY2027
/operating_model/cells/base_fy2027_stockpile_revenue:base/unitNoneUSD_millions
/operating_model/cells/base_fy2027_stockpile_revenue:base/valueNone45.0
/operating_model/cells/base_fy2027_strategic_cash:base/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/base_fy2027_strategic_cash:base/caseNonebase
/operating_model/cells/base_fy2027_strategic_cash:base/formula/opNonesum
/operating_model/cells/base_fy2027_strategic_cash:base/formula/refs/0Nonebase_2027q1_strategic_cash
/operating_model/cells/base_fy2027_strategic_cash:base/formula/refs/1Nonebase_2027q2_strategic_cash
/operating_model/cells/base_fy2027_strategic_cash:base/formula/refs/2Nonebase_2027q3_strategic_cash
/operating_model/cells/base_fy2027_strategic_cash:base/formula/refs/3Nonebase_2027q4_strategic_cash
/operating_model/cells/base_fy2027_strategic_cash:base/idNonebase_fy2027_strategic_cash
/operating_model/cells/base_fy2027_strategic_cash:base/kindNonederived
/operating_model/cells/base_fy2027_strategic_cash:base/labelNonePrepayments minority/acquisition cash ($M)
/operating_model/cells/base_fy2027_strategic_cash:base/periodNoneFY2027
/operating_model/cells/base_fy2027_strategic_cash:base/unitNoneUSD_millions
/operating_model/cells/base_fy2027_strategic_cash:base/valueNone23.3375
/operating_model/cells/bonus_cap:shared/basisNoneThe $200M initial receipt is actual. Other commitments, limits and intended investments are not automatically receipts or current revenue.
/operating_model/cells/bonus_cap:shared/caseNoneshared
/operating_model/cells/bonus_cap:shared/idNonebonus_cap
/operating_model/cells/bonus_cap:shared/kindNonereported
/operating_model/cells/bonus_cap:shared/labelNonebonus cap
/operating_model/cells/bonus_cap:shared/periodNoneSeptember 2026
/operating_model/cells/bonus_cap:shared/source_dateNone2026-09-14
/operating_model/cells/bonus_cap:shared/source_urlNonehttps://www.sec.gov/Archives/edgar/data/2101698/000121390026099734/ea0304682-8k_elmet.htm
/operating_model/cells/bonus_cap:shared/unitNoneUSD_millions
/operating_model/cells/bonus_cap:shared/valueNone3.0
/operating_model/cells/cash:shared/basisNoneUSD millions; preferred financing and stockpile program occurred after H1.
/operating_model/cells/cash:shared/caseNoneshared
/operating_model/cells/cash:shared/idNonecash
/operating_model/cells/cash:shared/kindNonereported
/operating_model/cells/cash:shared/labelNonecash
/operating_model/cells/cash:shared/periodNoneH1 / July 3 2026
/operating_model/cells/cash:shared/source_dateNone2026-08-13
/operating_model/cells/cash:shared/source_urlNonehttps://www.sec.gov/Archives/edgar/data/2101698/000162828026056460/elmt-20260703.htm
/operating_model/cells/cash:shared/unitNoneUSD_millions
/operating_model/cells/cash:shared/valueNone66.122
/operating_model/cells/domestic_investment:shared/basisNoneThe $200M initial receipt is actual. Other commitments, limits and intended investments are not automatically receipts or current revenue.
/operating_model/cells/domestic_investment:shared/caseNoneshared
/operating_model/cells/domestic_investment:shared/idNonedomestic_investment
/operating_model/cells/domestic_investment:shared/kindNonereported
/operating_model/cells/domestic_investment:shared/labelNonedomestic investment
/operating_model/cells/domestic_investment:shared/periodNoneSeptember 2026
/operating_model/cells/domestic_investment:shared/source_dateNone2026-09-14
/operating_model/cells/domestic_investment:shared/source_urlNonehttps://www.sec.gov/Archives/edgar/data/2101698/000121390026099734/ea0304682-8k_elmet.htm
/operating_model/cells/domestic_investment:shared/unitNoneUSD_millions
/operating_model/cells/domestic_investment:shared/valueNone165.0
/operating_model/cells/downside_2026q3_blue_moon:downside/basisNoneNo consolidated Blue Moon sales or market-value gains.
/operating_model/cells/downside_2026q3_blue_moon:downside/caseNonedownside
/operating_model/cells/downside_2026q3_blue_moon:downside/formula/opNonemultiply
/operating_model/cells/downside_2026q3_blue_moon:downside/formula/refs/0Nonedownside_2026q3_cad_commitment
/operating_model/cells/downside_2026q3_blue_moon:downside/formula/refs/1Nonedownside_2026q3_cad_usd
/operating_model/cells/downside_2026q3_blue_moon:downside/idNonedownside_2026q3_blue_moon
/operating_model/cells/downside_2026q3_blue_moon:downside/kindNonederived
/operating_model/cells/downside_2026q3_blue_moon:downside/labelNoneBlue Moon minority investment cash
/operating_model/cells/downside_2026q3_blue_moon:downside/periodNone2026Q3
/operating_model/cells/downside_2026q3_blue_moon:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q3_blue_moon:downside/valueNone0.0
/operating_model/cells/downside_2026q3_business_investment:downside/basisNoneNo initial government receipt netted into capex.
/operating_model/cells/downside_2026q3_business_investment:downside/caseNonedownside
/operating_model/cells/downside_2026q3_business_investment:downside/formula/opNonesum
/operating_model/cells/downside_2026q3_business_investment:downside/formula/refs/0Nonedownside_2026q3_capex
/operating_model/cells/downside_2026q3_business_investment:downside/formula/refs/1Nonedownside_2026q3_strategic_cash
/operating_model/cells/downside_2026q3_business_investment:downside/idNonedownside_2026q3_business_investment
/operating_model/cells/downside_2026q3_business_investment:downside/kindNonederived
/operating_model/cells/downside_2026q3_business_investment:downside/labelNonePP&E and strategic deployment
/operating_model/cells/downside_2026q3_business_investment:downside/periodNone2026Q3
/operating_model/cells/downside_2026q3_business_investment:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q3_business_investment:downside/valueNone15.0
/operating_model/cells/downside_2026q3_cad_commitment:downside/basisNoneBinding 3.5M-unit commitment at CAD10, within 45 days of September 14; expected in Q4 fiscal 2026.
/operating_model/cells/downside_2026q3_cad_commitment:downside/caseNonedownside
/operating_model/cells/downside_2026q3_cad_commitment:downside/idNonedownside_2026q3_cad_commitment
/operating_model/cells/downside_2026q3_cad_commitment:downside/kindNoneassumption
/operating_model/cells/downside_2026q3_cad_commitment:downside/labelNoneCAD35M investment at 1:1 before FX
/operating_model/cells/downside_2026q3_cad_commitment:downside/periodNone2026Q3
/operating_model/cells/downside_2026q3_cad_commitment:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q3_cad_commitment:downside/valueNone0.0
/operating_model/cells/downside_2026q3_cad_usd:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2026q3_cad_usd:downside/caseNonedownside
/operating_model/cells/downside_2026q3_cad_usd:downside/idNonedownside_2026q3_cad_usd
/operating_model/cells/downside_2026q3_cad_usd:downside/kindNoneassumption
/operating_model/cells/downside_2026q3_cad_usd:downside/labelNoneUSD per CAD assumption
/operating_model/cells/downside_2026q3_cad_usd:downside/periodNone2026Q3
/operating_model/cells/downside_2026q3_cad_usd:downside/unitNoneratio
/operating_model/cells/downside_2026q3_cad_usd:downside/valueNone0.73
/operating_model/cells/downside_2026q3_capex:downside/basisNoneConsolidated external investment includes domestic expansion and controlled JV plant; internal capital contributions are not counted again.
/operating_model/cells/downside_2026q3_capex:downside/caseNonedownside
/operating_model/cells/downside_2026q3_capex:downside/idNonedownside_2026q3_capex
/operating_model/cells/downside_2026q3_capex:downside/kindNoneassumption
/operating_model/cells/downside_2026q3_capex:downside/labelNoneExternal PP&E domestic and controlled-JV cash
/operating_model/cells/downside_2026q3_capex:downside/periodNone2026Q3
/operating_model/cells/downside_2026q3_capex:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q3_capex:downside/valueNone15.0
/operating_model/cells/downside_2026q3_cash_after_funding:downside/basisNonePeriod flow only; no claim that preferred cash is freely distributable.
/operating_model/cells/downside_2026q3_cash_after_funding:downside/caseNonedownside
/operating_model/cells/downside_2026q3_cash_after_funding:downside/formula/opNonesum
/operating_model/cells/downside_2026q3_cash_after_funding:downside/formula/refs/0Nonedownside_2026q3_cash_after_investing
/operating_model/cells/downside_2026q3_cash_after_funding:downside/formula/refs/1Nonedownside_2026q3_preferred_funding
/operating_model/cells/downside_2026q3_cash_after_funding:downside/idNonedownside_2026q3_cash_after_funding
/operating_model/cells/downside_2026q3_cash_after_funding:downside/kindNonederived
/operating_model/cells/downside_2026q3_cash_after_funding:downside/labelNoneCash after preferred financing
/operating_model/cells/downside_2026q3_cash_after_funding:downside/periodNone2026Q3
/operating_model/cells/downside_2026q3_cash_after_funding:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q3_cash_after_funding:downside/valueNone161.00822
/operating_model/cells/downside_2026q3_cash_after_investing:downside/basisNoneBefore preferred funding and other capital allocation.
/operating_model/cells/downside_2026q3_cash_after_investing:downside/caseNonedownside
/operating_model/cells/downside_2026q3_cash_after_investing:downside/formula/opNonesubtract
/operating_model/cells/downside_2026q3_cash_after_investing:downside/formula/refs/0Nonedownside_2026q3_cfo
/operating_model/cells/downside_2026q3_cash_after_investing:downside/formula/refs/1Nonedownside_2026q3_business_investment
/operating_model/cells/downside_2026q3_cash_after_investing:downside/idNonedownside_2026q3_cash_after_investing
/operating_model/cells/downside_2026q3_cash_after_investing:downside/kindNonederived
/operating_model/cells/downside_2026q3_cash_after_investing:downside/labelNoneCash after business investing
/operating_model/cells/downside_2026q3_cash_after_investing:downside/periodNone2026Q3
/operating_model/cells/downside_2026q3_cash_after_investing:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q3_cash_after_investing:downside/valueNone-38.99178
/operating_model/cells/downside_2026q3_cash_bonus:downside/basisNoneMaximum September award shown as a Q2 2027 cash/expense sensitivity, conditional on employment and measurement criteria; not SBC.
/operating_model/cells/downside_2026q3_cash_bonus:downside/caseNonedownside
/operating_model/cells/downside_2026q3_cash_bonus:downside/idNonedownside_2026q3_cash_bonus
/operating_model/cells/downside_2026q3_cash_bonus:downside/kindNoneassumption
/operating_model/cells/downside_2026q3_cash_bonus:downside/labelNonePerformance cash-bonus allowance
/operating_model/cells/downside_2026q3_cash_bonus:downside/periodNone2026Q3
/operating_model/cells/downside_2026q3_cash_bonus:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q3_cash_bonus:downside/valueNone0.0
/operating_model/cells/downside_2026q3_cash_interest:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2026q3_cash_interest:downside/caseNonedownside
/operating_model/cells/downside_2026q3_cash_interest:downside/idNonedownside_2026q3_cash_interest
/operating_model/cells/downside_2026q3_cash_interest:downside/kindNoneassumption
/operating_model/cells/downside_2026q3_cash_interest:downside/labelNoneCash debt interest
/operating_model/cells/downside_2026q3_cash_interest:downside/periodNone2026Q3
/operating_model/cells/downside_2026q3_cash_interest:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q3_cash_interest:downside/valueNone0.2
/operating_model/cells/downside_2026q3_cash_interest_income:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2026q3_cash_interest_income:downside/caseNonedownside
/operating_model/cells/downside_2026q3_cash_interest_income:downside/idNonedownside_2026q3_cash_interest_income
/operating_model/cells/downside_2026q3_cash_interest_income:downside/kindNoneassumption
/operating_model/cells/downside_2026q3_cash_interest_income:downside/labelNoneCash interest income
/operating_model/cells/downside_2026q3_cash_interest_income:downside/periodNone2026Q3
/operating_model/cells/downside_2026q3_cash_interest_income:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q3_cash_interest_income:downside/valueNone2.0
/operating_model/cells/downside_2026q3_cash_opex:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2026q3_cash_opex:downside/caseNonedownside
/operating_model/cells/downside_2026q3_cash_opex:downside/idNonedownside_2026q3_cash_opex
/operating_model/cells/downside_2026q3_cash_opex:downside/kindNoneassumption
/operating_model/cells/downside_2026q3_cash_opex:downside/labelNoneCash corporate R&D and selling expense
/operating_model/cells/downside_2026q3_cash_opex:downside/periodNone2026Q3
/operating_model/cells/downside_2026q3_cash_opex:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q3_cash_opex:downside/valueNone14.399999999999999
/operating_model/cells/downside_2026q3_cash_tax:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2026q3_cash_tax:downside/caseNonedownside
/operating_model/cells/downside_2026q3_cash_tax:downside/idNonedownside_2026q3_cash_tax
/operating_model/cells/downside_2026q3_cash_tax:downside/kindNoneassumption
/operating_model/cells/downside_2026q3_cash_tax:downside/labelNoneCash tax
/operating_model/cells/downside_2026q3_cash_tax:downside/periodNone2026Q3
/operating_model/cells/downside_2026q3_cash_tax:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q3_cash_tax:downside/valueNone2.0
/operating_model/cells/downside_2026q3_cash_uses:downside/basisNoneProject input prepayments are shown separately in strategic cash.
/operating_model/cells/downside_2026q3_cash_uses:downside/caseNonedownside
/operating_model/cells/downside_2026q3_cash_uses:downside/formula/opNonesum
/operating_model/cells/downside_2026q3_cash_uses:downside/formula/refs/0Nonedownside_2026q3_cash_tax
/operating_model/cells/downside_2026q3_cash_uses:downside/formula/refs/1Nonedownside_2026q3_cash_interest
/operating_model/cells/downside_2026q3_cash_uses:downside/formula/refs/2Nonedownside_2026q3_inventory_other_cash
/operating_model/cells/downside_2026q3_cash_uses:downside/formula/refs/3Nonedownside_2026q3_pass_inventory_cash
/operating_model/cells/downside_2026q3_cash_uses:downside/idNonedownside_2026q3_cash_uses
/operating_model/cells/downside_2026q3_cash_uses:downside/kindNonederived
/operating_model/cells/downside_2026q3_cash_uses:downside/labelNoneTax interest and working capital
/operating_model/cells/downside_2026q3_cash_uses:downside/periodNone2026Q3
/operating_model/cells/downside_2026q3_cash_uses:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q3_cash_uses:downside/valueNone26.2
/operating_model/cells/downside_2026q3_cfo:downside/basisNoneNo current-period preferred cash dividend.
/operating_model/cells/downside_2026q3_cfo:downside/caseNonedownside
/operating_model/cells/downside_2026q3_cfo:downside/formula/opNonesubtract
/operating_model/cells/downside_2026q3_cfo:downside/formula/refs/0Nonedownside_2026q3_operating_cash_earnings
/operating_model/cells/downside_2026q3_cfo:downside/formula/refs/1Nonedownside_2026q3_cash_uses
/operating_model/cells/downside_2026q3_cfo:downside/idNonedownside_2026q3_cfo
/operating_model/cells/downside_2026q3_cfo:downside/kindNonederived
/operating_model/cells/downside_2026q3_cfo:downside/labelNoneOperating cash flow proxy
/operating_model/cells/downside_2026q3_cfo:downside/periodNone2026Q3
/operating_model/cells/downside_2026q3_cfo:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q3_cfo:downside/valueNone-23.99178
/operating_model/cells/downside_2026q3_core_margin:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2026q3_core_margin:downside/caseNonedownside
/operating_model/cells/downside_2026q3_core_margin:downside/idNonedownside_2026q3_core_margin
/operating_model/cells/downside_2026q3_core_margin:downside/kindNoneassumption
/operating_model/cells/downside_2026q3_core_margin:downside/labelNoneCore gross margin
/operating_model/cells/downside_2026q3_core_margin:downside/periodNone2026Q3
/operating_model/cells/downside_2026q3_core_margin:downside/unitNoneratio
/operating_model/cells/downside_2026q3_core_margin:downside/valueNone0.22
/operating_model/cells/downside_2026q3_core_revenue:downside/basisNoneCurrent manufacturing and conditional acquired operations; stockpile is separate.
/operating_model/cells/downside_2026q3_core_revenue:downside/caseNonedownside
/operating_model/cells/downside_2026q3_core_revenue:downside/formula/opNonesum
/operating_model/cells/downside_2026q3_core_revenue:downside/formula/refs/0Nonedownside_2026q3_legacy_demand
/operating_model/cells/downside_2026q3_core_revenue:downside/formula/refs/1Nonedownside_2026q3_metal_pass
/operating_model/cells/downside_2026q3_core_revenue:downside/formula/refs/2Nonedownside_2026q3_german_revenue
/operating_model/cells/downside_2026q3_core_revenue:downside/idNonedownside_2026q3_core_revenue
/operating_model/cells/downside_2026q3_core_revenue:downside/kindNonederived
/operating_model/cells/downside_2026q3_core_revenue:downside/labelNoneCore and acquired revenue
/operating_model/cells/downside_2026q3_core_revenue:downside/periodNone2026Q3
/operating_model/cells/downside_2026q3_core_revenue:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q3_core_revenue:downside/valueNone78.401
/operating_model/cells/downside_2026q3_da:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2026q3_da:downside/caseNonedownside
/operating_model/cells/downside_2026q3_da:downside/idNonedownside_2026q3_da
/operating_model/cells/downside_2026q3_da:downside/kindNoneassumption
/operating_model/cells/downside_2026q3_da:downside/labelNoneOperating D&A
/operating_model/cells/downside_2026q3_da:downside/periodNone2026Q3
/operating_model/cells/downside_2026q3_da:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q3_da:downside/valueNone2.0
/operating_model/cells/downside_2026q3_demand_index:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2026q3_demand_index:downside/caseNonedownside
/operating_model/cells/downside_2026q3_demand_index:downside/idNonedownside_2026q3_demand_index
/operating_model/cells/downside_2026q3_demand_index:downside/kindNoneassumption
/operating_model/cells/downside_2026q3_demand_index:downside/labelNoneNet volume and mix versus Q2
/operating_model/cells/downside_2026q3_demand_index:downside/periodNone2026Q3
/operating_model/cells/downside_2026q3_demand_index:downside/unitNoneratio
/operating_model/cells/downside_2026q3_demand_index:downside/valueNone1.0
/operating_model/cells/downside_2026q3_eur_usd:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2026q3_eur_usd:downside/caseNonedownside
/operating_model/cells/downside_2026q3_eur_usd:downside/idNonedownside_2026q3_eur_usd
/operating_model/cells/downside_2026q3_eur_usd:downside/kindNoneassumption
/operating_model/cells/downside_2026q3_eur_usd:downside/labelNoneUSD per EUR conversion
/operating_model/cells/downside_2026q3_eur_usd:downside/periodNone2026Q3
/operating_model/cells/downside_2026q3_eur_usd:downside/unitNoneratio
/operating_model/cells/downside_2026q3_eur_usd:downside/valueNone1.15
/operating_model/cells/downside_2026q3_funding_weight:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2026q3_funding_weight:downside/caseNonedownside
/operating_model/cells/downside_2026q3_funding_weight:downside/idNonedownside_2026q3_funding_weight
/operating_model/cells/downside_2026q3_funding_weight:downside/kindNoneassumption
/operating_model/cells/downside_2026q3_funding_weight:downside/labelNoneNew funding quarter weight
/operating_model/cells/downside_2026q3_funding_weight:downside/periodNone2026Q3
/operating_model/cells/downside_2026q3_funding_weight:downside/unitNoneratio
/operating_model/cells/downside_2026q3_funding_weight:downside/valueNone0.2087912087912088
/operating_model/cells/downside_2026q3_german_eur_amount:downside/basisNoneDesk working capital and net pension assumptions in contractual price formula; signed amount can be negative.
/operating_model/cells/downside_2026q3_german_eur_amount:downside/caseNonedownside
/operating_model/cells/downside_2026q3_german_eur_amount:downside/idNonedownside_2026q3_german_eur_amount
/operating_model/cells/downside_2026q3_german_eur_amount:downside/kindNoneassumption
/operating_model/cells/downside_2026q3_german_eur_amount:downside/labelNoneGerman net price sensitivity, EUR millions represented at 1:1 before FX
/operating_model/cells/downside_2026q3_german_eur_amount:downside/periodNone2026Q3
/operating_model/cells/downside_2026q3_german_eur_amount:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q3_german_eur_amount:downside/valueNone0.0
/operating_model/cells/downside_2026q3_german_gross:downside/basisNoneUnverified post-close margin.
/operating_model/cells/downside_2026q3_german_gross:downside/caseNonedownside
/operating_model/cells/downside_2026q3_german_gross:downside/formula/opNonemultiply
/operating_model/cells/downside_2026q3_german_gross:downside/formula/refs/0Nonedownside_2026q3_german_revenue
/operating_model/cells/downside_2026q3_german_gross:downside/formula/refs/1Nonedownside_2026q3_german_margin
/operating_model/cells/downside_2026q3_german_gross:downside/idNonedownside_2026q3_german_gross
/operating_model/cells/downside_2026q3_german_gross:downside/kindNonederived
/operating_model/cells/downside_2026q3_german_gross:downside/labelNoneGerman gross contribution
/operating_model/cells/downside_2026q3_german_gross:downside/periodNone2026Q3
/operating_model/cells/downside_2026q3_german_gross:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q3_german_gross:downside/valueNone0.0
/operating_model/cells/downside_2026q3_german_margin:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2026q3_german_margin:downside/caseNonedownside
/operating_model/cells/downside_2026q3_german_margin:downside/idNonedownside_2026q3_german_margin
/operating_model/cells/downside_2026q3_german_margin:downside/kindNoneassumption
/operating_model/cells/downside_2026q3_german_margin:downside/labelNoneAcquired gross margin
/operating_model/cells/downside_2026q3_german_margin:downside/periodNone2026Q3
/operating_model/cells/downside_2026q3_german_margin:downside/unitNoneratio
/operating_model/cells/downside_2026q3_german_margin:downside/valueNone0.18
/operating_model/cells/downside_2026q3_german_price:downside/basisNoneScenario only; metal inventory and pension measurement can materially change final consideration.
/operating_model/cells/downside_2026q3_german_price:downside/caseNonedownside
/operating_model/cells/downside_2026q3_german_price:downside/formula/opNonemultiply
/operating_model/cells/downside_2026q3_german_price:downside/formula/refs/0Nonedownside_2026q3_german_eur_amount
/operating_model/cells/downside_2026q3_german_price:downside/formula/refs/1Nonedownside_2026q3_eur_usd
/operating_model/cells/downside_2026q3_german_price:downside/idNonedownside_2026q3_german_price
/operating_model/cells/downside_2026q3_german_price:downside/kindNonederived
/operating_model/cells/downside_2026q3_german_price:downside/labelNoneConditional German closing cash in USD
/operating_model/cells/downside_2026q3_german_price:downside/periodNone2026Q3
/operating_model/cells/downside_2026q3_german_price:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q3_german_price:downside/valueNone0.0
/operating_model/cells/downside_2026q3_german_revenue:downside/basisNoneDesk acquired-period contribution only after assumed closing; transaction remains conditional.
/operating_model/cells/downside_2026q3_german_revenue:downside/caseNonedownside
/operating_model/cells/downside_2026q3_german_revenue:downside/idNonedownside_2026q3_german_revenue
/operating_model/cells/downside_2026q3_german_revenue:downside/kindNoneassumption
/operating_model/cells/downside_2026q3_german_revenue:downside/labelNoneConditional acquired German revenue
/operating_model/cells/downside_2026q3_german_revenue:downside/periodNone2026Q3
/operating_model/cells/downside_2026q3_german_revenue:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q3_german_revenue:downside/valueNone0.0
/operating_model/cells/downside_2026q3_gross_profit:downside/basisNoneCompany forecasts are not supplied for the new program.
/operating_model/cells/downside_2026q3_gross_profit:downside/caseNonedownside
/operating_model/cells/downside_2026q3_gross_profit:downside/formula/opNonesum
/operating_model/cells/downside_2026q3_gross_profit:downside/formula/refs/0Nonedownside_2026q3_legacy_gross
/operating_model/cells/downside_2026q3_gross_profit:downside/formula/refs/1Nonedownside_2026q3_price_gross
/operating_model/cells/downside_2026q3_gross_profit:downside/formula/refs/2Nonedownside_2026q3_german_gross
/operating_model/cells/downside_2026q3_gross_profit:downside/formula/refs/3Nonedownside_2026q3_stockpile_gross
/operating_model/cells/downside_2026q3_gross_profit:downside/idNonedownside_2026q3_gross_profit
/operating_model/cells/downside_2026q3_gross_profit:downside/kindNonederived
/operating_model/cells/downside_2026q3_gross_profit:downside/labelNoneGross profit proxy
/operating_model/cells/downside_2026q3_gross_profit:downside/periodNone2026Q3
/operating_model/cells/downside_2026q3_gross_profit:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q3_gross_profit:downside/valueNone14.60822
/operating_model/cells/downside_2026q3_inventory_other_cash:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2026q3_inventory_other_cash:downside/caseNonedownside
/operating_model/cells/downside_2026q3_inventory_other_cash:downside/idNonedownside_2026q3_inventory_other_cash
/operating_model/cells/downside_2026q3_inventory_other_cash:downside/kindNoneassumption
/operating_model/cells/downside_2026q3_inventory_other_cash:downside/labelNoneInventory and other working-capital use
/operating_model/cells/downside_2026q3_inventory_other_cash:downside/periodNone2026Q3
/operating_model/cells/downside_2026q3_inventory_other_cash:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q3_inventory_other_cash:downside/valueNone18.0
/operating_model/cells/downside_2026q3_inventory_price_fraction:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2026q3_inventory_price_fraction:downside/caseNonedownside
/operating_model/cells/downside_2026q3_inventory_price_fraction:downside/idNonedownside_2026q3_inventory_price_fraction
/operating_model/cells/downside_2026q3_inventory_price_fraction:downside/kindNoneassumption
/operating_model/cells/downside_2026q3_inventory_price_fraction:downside/labelNonePrice-related inventory funding share
/operating_model/cells/downside_2026q3_inventory_price_fraction:downside/periodNone2026Q3
/operating_model/cells/downside_2026q3_inventory_price_fraction:downside/unitNoneratio
/operating_model/cells/downside_2026q3_inventory_price_fraction:downside/valueNone0.5
/operating_model/cells/downside_2026q3_legacy_demand:downside/basisNoneDemand separated from incremental metal-price pass-through.
/operating_model/cells/downside_2026q3_legacy_demand:downside/caseNonedownside
/operating_model/cells/downside_2026q3_legacy_demand:downside/formula/opNonemultiply
/operating_model/cells/downside_2026q3_legacy_demand:downside/formula/refs/0Noneq2_revenue
/operating_model/cells/downside_2026q3_legacy_demand:downside/formula/refs/1Nonedownside_2026q3_demand_index
/operating_model/cells/downside_2026q3_legacy_demand:downside/idNonedownside_2026q3_legacy_demand
/operating_model/cells/downside_2026q3_legacy_demand:downside/kindNonederived
/operating_model/cells/downside_2026q3_legacy_demand:downside/labelNoneLegacy revenue at reference metal prices
/operating_model/cells/downside_2026q3_legacy_demand:downside/periodNone2026Q3
/operating_model/cells/downside_2026q3_legacy_demand:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q3_legacy_demand:downside/valueNone66.401
/operating_model/cells/downside_2026q3_legacy_gross:downside/basisNoneIndependent operating-margin scenario.
/operating_model/cells/downside_2026q3_legacy_gross:downside/caseNonedownside
/operating_model/cells/downside_2026q3_legacy_gross:downside/formula/opNonemultiply
/operating_model/cells/downside_2026q3_legacy_gross:downside/formula/refs/0Nonedownside_2026q3_legacy_demand
/operating_model/cells/downside_2026q3_legacy_gross:downside/formula/refs/1Nonedownside_2026q3_core_margin
/operating_model/cells/downside_2026q3_legacy_gross:downside/idNonedownside_2026q3_legacy_gross
/operating_model/cells/downside_2026q3_legacy_gross:downside/kindNonederived
/operating_model/cells/downside_2026q3_legacy_gross:downside/labelNoneLegacy gross profit
/operating_model/cells/downside_2026q3_legacy_gross:downside/periodNone2026Q3
/operating_model/cells/downside_2026q3_legacy_gross:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q3_legacy_gross:downside/valueNone14.60822
/operating_model/cells/downside_2026q3_metal_cost:downside/basisNoneAt 100% pass-through, higher commodity prices do not create gross profit.
/operating_model/cells/downside_2026q3_metal_cost:downside/caseNonedownside
/operating_model/cells/downside_2026q3_metal_cost:downside/formula/opNonemultiply
/operating_model/cells/downside_2026q3_metal_cost:downside/formula/refs/0Nonedownside_2026q3_metal_pass
/operating_model/cells/downside_2026q3_metal_cost:downside/formula/refs/1Nonedownside_2026q3_pass_cost_ratio
/operating_model/cells/downside_2026q3_metal_cost:downside/idNonedownside_2026q3_metal_cost
/operating_model/cells/downside_2026q3_metal_cost:downside/kindNonederived
/operating_model/cells/downside_2026q3_metal_cost:downside/labelNoneMatched input price cost
/operating_model/cells/downside_2026q3_metal_cost:downside/periodNone2026Q3
/operating_model/cells/downside_2026q3_metal_cost:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q3_metal_cost:downside/valueNone12.0
/operating_model/cells/downside_2026q3_metal_pass:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2026q3_metal_pass:downside/caseNonedownside
/operating_model/cells/downside_2026q3_metal_pass:downside/idNonedownside_2026q3_metal_pass
/operating_model/cells/downside_2026q3_metal_pass:downside/kindNoneassumption
/operating_model/cells/downside_2026q3_metal_pass:downside/labelNoneIncremental raw-material price pass-through
/operating_model/cells/downside_2026q3_metal_pass:downside/periodNone2026Q3
/operating_model/cells/downside_2026q3_metal_pass:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q3_metal_pass:downside/valueNone12.0
/operating_model/cells/downside_2026q3_new_pik_basis:downside/basisNoneInitial 19-day approximate accrual; later tranches assumed late-quarter.
/operating_model/cells/downside_2026q3_new_pik_basis:downside/caseNonedownside
/operating_model/cells/downside_2026q3_new_pik_basis:downside/formula/opNonemultiply
/operating_model/cells/downside_2026q3_new_pik_basis:downside/formula/refs/0Nonedownside_2026q3_preferred_funding
/operating_model/cells/downside_2026q3_new_pik_basis:downside/formula/refs/1Nonedownside_2026q3_funding_weight
/operating_model/cells/downside_2026q3_new_pik_basis:downside/idNonedownside_2026q3_new_pik_basis
/operating_model/cells/downside_2026q3_new_pik_basis:downside/kindNonederived
/operating_model/cells/downside_2026q3_new_pik_basis:downside/labelNoneNew funding weighted for partial quarter
/operating_model/cells/downside_2026q3_new_pik_basis:downside/periodNone2026Q3
/operating_model/cells/downside_2026q3_new_pik_basis:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q3_new_pik_basis:downside/valueNone41.75824175824176
/operating_model/cells/downside_2026q3_operating_cash_earnings:downside/basisNoneNo debt forgiveness or financing gain.
/operating_model/cells/downside_2026q3_operating_cash_earnings:downside/caseNonedownside
/operating_model/cells/downside_2026q3_operating_cash_earnings:downside/formula/opNonesum
/operating_model/cells/downside_2026q3_operating_cash_earnings:downside/formula/refs/0Nonedownside_2026q3_operating_income
/operating_model/cells/downside_2026q3_operating_cash_earnings:downside/formula/refs/1Nonedownside_2026q3_sbc
/operating_model/cells/downside_2026q3_operating_cash_earnings:downside/formula/refs/2Nonedownside_2026q3_da
/operating_model/cells/downside_2026q3_operating_cash_earnings:downside/formula/refs/3Nonedownside_2026q3_cash_interest_income
/operating_model/cells/downside_2026q3_operating_cash_earnings:downside/idNonedownside_2026q3_operating_cash_earnings
/operating_model/cells/downside_2026q3_operating_cash_earnings:downside/kindNonederived
/operating_model/cells/downside_2026q3_operating_cash_earnings:downside/labelNoneOperating earnings plus noncash and interest
/operating_model/cells/downside_2026q3_operating_cash_earnings:downside/periodNone2026Q3
/operating_model/cells/downside_2026q3_operating_cash_earnings:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q3_operating_cash_earnings:downside/valueNone2.2082200000000007
/operating_model/cells/downside_2026q3_operating_income:downside/basisNonePreferred PIK is below operating economics, not operating expense.
/operating_model/cells/downside_2026q3_operating_income:downside/caseNonedownside
/operating_model/cells/downside_2026q3_operating_income:downside/formula/opNonesubtract
/operating_model/cells/downside_2026q3_operating_income:downside/formula/refs/0Nonedownside_2026q3_gross_profit
/operating_model/cells/downside_2026q3_operating_income:downside/formula/refs/1Nonedownside_2026q3_opex
/operating_model/cells/downside_2026q3_operating_income:downside/idNonedownside_2026q3_operating_income
/operating_model/cells/downside_2026q3_operating_income:downside/kindNonederived
/operating_model/cells/downside_2026q3_operating_income:downside/labelNoneOperating income proxy
/operating_model/cells/downside_2026q3_operating_income:downside/periodNone2026Q3
/operating_model/cells/downside_2026q3_operating_income:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q3_operating_income:downside/valueNone-3.7917799999999993
/operating_model/cells/downside_2026q3_opex:downside/basisNoneNo repeat of H1 IPO SBC as if recurring every quarter.
/operating_model/cells/downside_2026q3_opex:downside/caseNonedownside
/operating_model/cells/downside_2026q3_opex:downside/formula/opNonesum
/operating_model/cells/downside_2026q3_opex:downside/formula/refs/0Nonedownside_2026q3_cash_opex
/operating_model/cells/downside_2026q3_opex:downside/formula/refs/1Nonedownside_2026q3_sbc
/operating_model/cells/downside_2026q3_opex:downside/formula/refs/2Nonedownside_2026q3_da
/operating_model/cells/downside_2026q3_opex:downside/formula/refs/3Nonedownside_2026q3_cash_bonus
/operating_model/cells/downside_2026q3_opex:downside/idNonedownside_2026q3_opex
/operating_model/cells/downside_2026q3_opex:downside/kindNonederived
/operating_model/cells/downside_2026q3_opex:downside/labelNoneCash overhead SBC and D&A
/operating_model/cells/downside_2026q3_opex:downside/periodNone2026Q3
/operating_model/cells/downside_2026q3_opex:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q3_opex:downside/valueNone18.4
/operating_model/cells/downside_2026q3_pass_cost_ratio:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2026q3_pass_cost_ratio:downside/caseNonedownside
/operating_model/cells/downside_2026q3_pass_cost_ratio:downside/idNonedownside_2026q3_pass_cost_ratio
/operating_model/cells/downside_2026q3_pass_cost_ratio:downside/kindNoneassumption
/operating_model/cells/downside_2026q3_pass_cost_ratio:downside/labelNoneInput-cost share of pass-through
/operating_model/cells/downside_2026q3_pass_cost_ratio:downside/periodNone2026Q3
/operating_model/cells/downside_2026q3_pass_cost_ratio:downside/unitNoneratio
/operating_model/cells/downside_2026q3_pass_cost_ratio:downside/valueNone1.0
/operating_model/cells/downside_2026q3_pass_inventory_cash:downside/basisNoneCommodity inflation can tie up cash despite matched gross profit.
/operating_model/cells/downside_2026q3_pass_inventory_cash:downside/caseNonedownside
/operating_model/cells/downside_2026q3_pass_inventory_cash:downside/formula/opNonemultiply
/operating_model/cells/downside_2026q3_pass_inventory_cash:downside/formula/refs/0Nonedownside_2026q3_metal_pass
/operating_model/cells/downside_2026q3_pass_inventory_cash:downside/formula/refs/1Nonedownside_2026q3_inventory_price_fraction
/operating_model/cells/downside_2026q3_pass_inventory_cash:downside/idNonedownside_2026q3_pass_inventory_cash
/operating_model/cells/downside_2026q3_pass_inventory_cash:downside/kindNonederived
/operating_model/cells/downside_2026q3_pass_inventory_cash:downside/labelNoneAdditional price-related inventory funding
/operating_model/cells/downside_2026q3_pass_inventory_cash:downside/periodNone2026Q3
/operating_model/cells/downside_2026q3_pass_inventory_cash:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q3_pass_inventory_cash:downside/valueNone6.0
/operating_model/cells/downside_2026q3_pik_basis:downside/basisNoneExisting balance includes prior PIK compounding.
/operating_model/cells/downside_2026q3_pik_basis:downside/caseNonedownside
/operating_model/cells/downside_2026q3_pik_basis:downside/formula/opNonesum
/operating_model/cells/downside_2026q3_pik_basis:downside/formula/refs/0Nonedownside_2026q3_preferred_opening
/operating_model/cells/downside_2026q3_pik_basis:downside/formula/refs/1Nonedownside_2026q3_new_pik_basis
/operating_model/cells/downside_2026q3_pik_basis:downside/idNonedownside_2026q3_pik_basis
/operating_model/cells/downside_2026q3_pik_basis:downside/kindNonederived
/operating_model/cells/downside_2026q3_pik_basis:downside/labelNoneWeighted preferred claim for PIK
/operating_model/cells/downside_2026q3_pik_basis:downside/periodNone2026Q3
/operating_model/cells/downside_2026q3_pik_basis:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q3_pik_basis:downside/valueNone41.75824175824176
/operating_model/cells/downside_2026q3_preferred_ending:downside/basisNoneStock balance, not an annual flow; ignores warrant-linked liquidation preference reductions.
/operating_model/cells/downside_2026q3_preferred_ending:downside/caseNonedownside
/operating_model/cells/downside_2026q3_preferred_ending:downside/formula/opNonesum
/operating_model/cells/downside_2026q3_preferred_ending:downside/formula/refs/0Nonedownside_2026q3_preferred_opening
/operating_model/cells/downside_2026q3_preferred_ending:downside/formula/refs/1Nonedownside_2026q3_preferred_funding
/operating_model/cells/downside_2026q3_preferred_ending:downside/formula/refs/2Nonedownside_2026q3_preferred_pik
/operating_model/cells/downside_2026q3_preferred_ending:downside/idNonedownside_2026q3_preferred_ending
/operating_model/cells/downside_2026q3_preferred_ending:downside/kindNonederived
/operating_model/cells/downside_2026q3_preferred_ending:downside/labelNoneEnding preferred claim before warrant adjustments
/operating_model/cells/downside_2026q3_preferred_ending:downside/periodNone2026Q3
/operating_model/cells/downside_2026q3_preferred_ending:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q3_preferred_ending:downside/valueNone200.57417582417582
/operating_model/cells/downside_2026q3_preferred_funding:downside/basisNoneInitial $200M received September 14; any later $50M receipt is conditional and respects six-month tranche availability.
/operating_model/cells/downside_2026q3_preferred_funding:downside/caseNonedownside
/operating_model/cells/downside_2026q3_preferred_funding:downside/idNonedownside_2026q3_preferred_funding
/operating_model/cells/downside_2026q3_preferred_funding:downside/kindNoneassumption
/operating_model/cells/downside_2026q3_preferred_funding:downside/labelNonePreferred financing receipts
/operating_model/cells/downside_2026q3_preferred_funding:downside/periodNone2026Q3
/operating_model/cells/downside_2026q3_preferred_funding:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q3_preferred_funding:downside/valueNone200.0
/operating_model/cells/downside_2026q3_preferred_opening:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2026q3_preferred_opening:downside/caseNonedownside
/operating_model/cells/downside_2026q3_preferred_opening:downside/idNonedownside_2026q3_preferred_opening
/operating_model/cells/downside_2026q3_preferred_opening:downside/kindNoneassumption
/operating_model/cells/downside_2026q3_preferred_opening:downside/labelNoneOpening preferred claim
/operating_model/cells/downside_2026q3_preferred_opening:downside/periodNone2026Q3
/operating_model/cells/downside_2026q3_preferred_opening:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q3_preferred_opening:downside/valueNone0.0
/operating_model/cells/downside_2026q3_preferred_pik:downside/basisNoneNoncash senior claim; no deduction from current-period cash.
/operating_model/cells/downside_2026q3_preferred_pik:downside/caseNonedownside
/operating_model/cells/downside_2026q3_preferred_pik:downside/formula/opNonemultiply
/operating_model/cells/downside_2026q3_preferred_pik:downside/formula/refs/0Nonedownside_2026q3_pik_basis
/operating_model/cells/downside_2026q3_preferred_pik:downside/formula/refs/1Nonepreferred_rate
/operating_model/cells/downside_2026q3_preferred_pik:downside/formula/refs/2Nonedownside_2026q3_quarter_year
/operating_model/cells/downside_2026q3_preferred_pik:downside/idNonedownside_2026q3_preferred_pik
/operating_model/cells/downside_2026q3_preferred_pik:downside/kindNonederived
/operating_model/cells/downside_2026q3_preferred_pik:downside/labelNonePreferred economic PIK accrual
/operating_model/cells/downside_2026q3_preferred_pik:downside/periodNone2026Q3
/operating_model/cells/downside_2026q3_preferred_pik:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q3_preferred_pik:downside/valueNone0.5741758241758242
/operating_model/cells/downside_2026q3_price_gross:downside/basisNoneMismatch sensitivity is explicit.
/operating_model/cells/downside_2026q3_price_gross:downside/caseNonedownside
/operating_model/cells/downside_2026q3_price_gross:downside/formula/opNonesubtract
/operating_model/cells/downside_2026q3_price_gross:downside/formula/refs/0Nonedownside_2026q3_metal_pass
/operating_model/cells/downside_2026q3_price_gross:downside/formula/refs/1Nonedownside_2026q3_metal_cost
/operating_model/cells/downside_2026q3_price_gross:downside/idNonedownside_2026q3_price_gross
/operating_model/cells/downside_2026q3_price_gross:downside/kindNonederived
/operating_model/cells/downside_2026q3_price_gross:downside/labelNoneIncremental price pass-through gross profit
/operating_model/cells/downside_2026q3_price_gross:downside/periodNone2026Q3
/operating_model/cells/downside_2026q3_price_gross:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q3_price_gross:downside/valueNone0.0
/operating_model/cells/downside_2026q3_quarter_year:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2026q3_quarter_year:downside/caseNonedownside
/operating_model/cells/downside_2026q3_quarter_year:downside/idNonedownside_2026q3_quarter_year
/operating_model/cells/downside_2026q3_quarter_year:downside/kindNoneassumption
/operating_model/cells/downside_2026q3_quarter_year:downside/labelNoneQuarter-year fraction
/operating_model/cells/downside_2026q3_quarter_year:downside/periodNone2026Q3
/operating_model/cells/downside_2026q3_quarter_year:downside/unitNoneratio
/operating_model/cells/downside_2026q3_quarter_year:downside/valueNone0.25
/operating_model/cells/downside_2026q3_raw_prepay:downside/basisNoneDesk first and milestone-conditioned second $25M funding; later negative amounts are consumption/settlement credits, not new revenue.
/operating_model/cells/downside_2026q3_raw_prepay:downside/caseNonedownside
/operating_model/cells/downside_2026q3_raw_prepay:downside/idNonedownside_2026q3_raw_prepay
/operating_model/cells/downside_2026q3_raw_prepay:downside/kindNoneassumption
/operating_model/cells/downside_2026q3_raw_prepay:downside/labelNoneNet new raw-material prepayments
/operating_model/cells/downside_2026q3_raw_prepay:downside/periodNone2026Q3
/operating_model/cells/downside_2026q3_raw_prepay:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q3_raw_prepay:downside/valueNone0.0
/operating_model/cells/downside_2026q3_revenue:downside/basisNoneNo recognition of preferred funding as revenue.
/operating_model/cells/downside_2026q3_revenue:downside/caseNonedownside
/operating_model/cells/downside_2026q3_revenue:downside/formula/opNonesum
/operating_model/cells/downside_2026q3_revenue:downside/formula/refs/0Nonedownside_2026q3_core_revenue
/operating_model/cells/downside_2026q3_revenue:downside/formula/refs/1Nonedownside_2026q3_stockpile_revenue
/operating_model/cells/downside_2026q3_revenue:downside/idNonedownside_2026q3_revenue
/operating_model/cells/downside_2026q3_revenue:downside/kindNonederived
/operating_model/cells/downside_2026q3_revenue:downside/labelNoneTotal revenue
/operating_model/cells/downside_2026q3_revenue:downside/periodNone2026Q3
/operating_model/cells/downside_2026q3_revenue:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q3_revenue:downside/valueNone78.401
/operating_model/cells/downside_2026q3_sbc:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2026q3_sbc:downside/caseNonedownside
/operating_model/cells/downside_2026q3_sbc:downside/idNonedownside_2026q3_sbc
/operating_model/cells/downside_2026q3_sbc:downside/kindNoneassumption
/operating_model/cells/downside_2026q3_sbc:downside/labelNoneSBC
/operating_model/cells/downside_2026q3_sbc:downside/periodNone2026Q3
/operating_model/cells/downside_2026q3_sbc:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q3_sbc:downside/valueNone2.0
/operating_model/cells/downside_2026q3_stock_margin:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2026q3_stock_margin:downside/caseNonedownside
/operating_model/cells/downside_2026q3_stock_margin:downside/idNonedownside_2026q3_stock_margin
/operating_model/cells/downside_2026q3_stock_margin:downside/kindNoneassumption
/operating_model/cells/downside_2026q3_stock_margin:downside/labelNoneStockpile gross margin
/operating_model/cells/downside_2026q3_stock_margin:downside/periodNone2026Q3
/operating_model/cells/downside_2026q3_stock_margin:downside/unitNoneratio
/operating_model/cells/downside_2026q3_stock_margin:downside/valueNone0.12
/operating_model/cells/downside_2026q3_stockpile_gross:downside/basisNoneProcured input cost is reflected in margin; no unsupported floor-price assumption.
/operating_model/cells/downside_2026q3_stockpile_gross:downside/caseNonedownside
/operating_model/cells/downside_2026q3_stockpile_gross:downside/formula/opNonemultiply
/operating_model/cells/downside_2026q3_stockpile_gross:downside/formula/refs/0Nonedownside_2026q3_stockpile_revenue
/operating_model/cells/downside_2026q3_stockpile_gross:downside/formula/refs/1Nonedownside_2026q3_stock_margin
/operating_model/cells/downside_2026q3_stockpile_gross:downside/idNonedownside_2026q3_stockpile_gross
/operating_model/cells/downside_2026q3_stockpile_gross:downside/kindNonederived
/operating_model/cells/downside_2026q3_stockpile_gross:downside/labelNoneStockpile gross contribution
/operating_model/cells/downside_2026q3_stockpile_gross:downside/periodNone2026Q3
/operating_model/cells/downside_2026q3_stockpile_gross:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q3_stockpile_gross:downside/valueNone0.0
/operating_model/cells/downside_2026q3_stockpile_revenue:downside/basisNoneSupply-qualified delivery assumption, not pro-rata recognition of the contract ceiling or minimum.
/operating_model/cells/downside_2026q3_stockpile_revenue:downside/caseNonedownside
/operating_model/cells/downside_2026q3_stockpile_revenue:downside/idNonedownside_2026q3_stockpile_revenue
/operating_model/cells/downside_2026q3_stockpile_revenue:downside/kindNoneassumption
/operating_model/cells/downside_2026q3_stockpile_revenue:downside/labelNoneAccepted incremental stockpile deliveries
/operating_model/cells/downside_2026q3_stockpile_revenue:downside/periodNone2026Q3
/operating_model/cells/downside_2026q3_stockpile_revenue:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q3_stockpile_revenue:downside/valueNone0.0
/operating_model/cells/downside_2026q3_strategic_cash:downside/basisNonePrepaid input consumption cash credits avoid charging both historical prepayment and subsequent COGS cash without adjustment.
/operating_model/cells/downside_2026q3_strategic_cash:downside/caseNonedownside
/operating_model/cells/downside_2026q3_strategic_cash:downside/formula/opNonesum
/operating_model/cells/downside_2026q3_strategic_cash:downside/formula/refs/0Nonedownside_2026q3_blue_moon
/operating_model/cells/downside_2026q3_strategic_cash:downside/formula/refs/1Nonedownside_2026q3_raw_prepay
/operating_model/cells/downside_2026q3_strategic_cash:downside/formula/refs/2Nonedownside_2026q3_german_price
/operating_model/cells/downside_2026q3_strategic_cash:downside/idNonedownside_2026q3_strategic_cash
/operating_model/cells/downside_2026q3_strategic_cash:downside/kindNonederived
/operating_model/cells/downside_2026q3_strategic_cash:downside/labelNoneMinority prepayment and acquisition cash
/operating_model/cells/downside_2026q3_strategic_cash:downside/periodNone2026Q3
/operating_model/cells/downside_2026q3_strategic_cash:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q3_strategic_cash:downside/valueNone0.0
/operating_model/cells/downside_2026q4_blue_moon:downside/basisNoneNo consolidated Blue Moon sales or market-value gains.
/operating_model/cells/downside_2026q4_blue_moon:downside/caseNonedownside
/operating_model/cells/downside_2026q4_blue_moon:downside/formula/opNonemultiply
/operating_model/cells/downside_2026q4_blue_moon:downside/formula/refs/0Nonedownside_2026q4_cad_commitment
/operating_model/cells/downside_2026q4_blue_moon:downside/formula/refs/1Nonedownside_2026q4_cad_usd
/operating_model/cells/downside_2026q4_blue_moon:downside/idNonedownside_2026q4_blue_moon
/operating_model/cells/downside_2026q4_blue_moon:downside/kindNonederived
/operating_model/cells/downside_2026q4_blue_moon:downside/labelNoneBlue Moon minority investment cash
/operating_model/cells/downside_2026q4_blue_moon:downside/periodNone2026Q4
/operating_model/cells/downside_2026q4_blue_moon:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q4_blue_moon:downside/valueNone25.55
/operating_model/cells/downside_2026q4_business_investment:downside/basisNoneNo initial government receipt netted into capex.
/operating_model/cells/downside_2026q4_business_investment:downside/caseNonedownside
/operating_model/cells/downside_2026q4_business_investment:downside/formula/opNonesum
/operating_model/cells/downside_2026q4_business_investment:downside/formula/refs/0Nonedownside_2026q4_capex
/operating_model/cells/downside_2026q4_business_investment:downside/formula/refs/1Nonedownside_2026q4_strategic_cash
/operating_model/cells/downside_2026q4_business_investment:downside/idNonedownside_2026q4_business_investment
/operating_model/cells/downside_2026q4_business_investment:downside/kindNonederived
/operating_model/cells/downside_2026q4_business_investment:downside/labelNonePP&E and strategic deployment
/operating_model/cells/downside_2026q4_business_investment:downside/periodNone2026Q4
/operating_model/cells/downside_2026q4_business_investment:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q4_business_investment:downside/valueNone80.55
/operating_model/cells/downside_2026q4_cad_commitment:downside/basisNoneBinding 3.5M-unit commitment at CAD10, within 45 days of September 14; expected in Q4 fiscal 2026.
/operating_model/cells/downside_2026q4_cad_commitment:downside/caseNonedownside
/operating_model/cells/downside_2026q4_cad_commitment:downside/idNonedownside_2026q4_cad_commitment
/operating_model/cells/downside_2026q4_cad_commitment:downside/kindNoneassumption
/operating_model/cells/downside_2026q4_cad_commitment:downside/labelNoneCAD35M investment at 1:1 before FX
/operating_model/cells/downside_2026q4_cad_commitment:downside/periodNone2026Q4
/operating_model/cells/downside_2026q4_cad_commitment:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q4_cad_commitment:downside/valueNone35.0
/operating_model/cells/downside_2026q4_cad_usd:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2026q4_cad_usd:downside/caseNonedownside
/operating_model/cells/downside_2026q4_cad_usd:downside/idNonedownside_2026q4_cad_usd
/operating_model/cells/downside_2026q4_cad_usd:downside/kindNoneassumption
/operating_model/cells/downside_2026q4_cad_usd:downside/labelNoneUSD per CAD assumption
/operating_model/cells/downside_2026q4_cad_usd:downside/periodNone2026Q4
/operating_model/cells/downside_2026q4_cad_usd:downside/unitNoneratio
/operating_model/cells/downside_2026q4_cad_usd:downside/valueNone0.73
/operating_model/cells/downside_2026q4_capex:downside/basisNoneConsolidated external investment includes domestic expansion and controlled JV plant; internal capital contributions are not counted again.
/operating_model/cells/downside_2026q4_capex:downside/caseNonedownside
/operating_model/cells/downside_2026q4_capex:downside/idNonedownside_2026q4_capex
/operating_model/cells/downside_2026q4_capex:downside/kindNoneassumption
/operating_model/cells/downside_2026q4_capex:downside/labelNoneExternal PP&E domestic and controlled-JV cash
/operating_model/cells/downside_2026q4_capex:downside/periodNone2026Q4
/operating_model/cells/downside_2026q4_capex:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q4_capex:downside/valueNone30.0
/operating_model/cells/downside_2026q4_cash_after_funding:downside/basisNonePeriod flow only; no claim that preferred cash is freely distributable.
/operating_model/cells/downside_2026q4_cash_after_funding:downside/caseNonedownside
/operating_model/cells/downside_2026q4_cash_after_funding:downside/formula/opNonesum
/operating_model/cells/downside_2026q4_cash_after_funding:downside/formula/refs/0Nonedownside_2026q4_cash_after_investing
/operating_model/cells/downside_2026q4_cash_after_funding:downside/formula/refs/1Nonedownside_2026q4_preferred_funding
/operating_model/cells/downside_2026q4_cash_after_funding:downside/idNonedownside_2026q4_cash_after_funding
/operating_model/cells/downside_2026q4_cash_after_funding:downside/kindNonederived
/operating_model/cells/downside_2026q4_cash_after_funding:downside/labelNoneCash after preferred financing
/operating_model/cells/downside_2026q4_cash_after_funding:downside/periodNone2026Q4
/operating_model/cells/downside_2026q4_cash_after_funding:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q4_cash_after_funding:downside/valueNone-111.16961559999999
/operating_model/cells/downside_2026q4_cash_after_investing:downside/basisNoneBefore preferred funding and other capital allocation.
/operating_model/cells/downside_2026q4_cash_after_investing:downside/caseNonedownside
/operating_model/cells/downside_2026q4_cash_after_investing:downside/formula/opNonesubtract
/operating_model/cells/downside_2026q4_cash_after_investing:downside/formula/refs/0Nonedownside_2026q4_cfo
/operating_model/cells/downside_2026q4_cash_after_investing:downside/formula/refs/1Nonedownside_2026q4_business_investment
/operating_model/cells/downside_2026q4_cash_after_investing:downside/idNonedownside_2026q4_cash_after_investing
/operating_model/cells/downside_2026q4_cash_after_investing:downside/kindNonederived
/operating_model/cells/downside_2026q4_cash_after_investing:downside/labelNoneCash after business investing
/operating_model/cells/downside_2026q4_cash_after_investing:downside/periodNone2026Q4
/operating_model/cells/downside_2026q4_cash_after_investing:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q4_cash_after_investing:downside/valueNone-111.16961559999999
/operating_model/cells/downside_2026q4_cash_bonus:downside/basisNoneMaximum September award shown as a Q2 2027 cash/expense sensitivity, conditional on employment and measurement criteria; not SBC.
/operating_model/cells/downside_2026q4_cash_bonus:downside/caseNonedownside
/operating_model/cells/downside_2026q4_cash_bonus:downside/idNonedownside_2026q4_cash_bonus
/operating_model/cells/downside_2026q4_cash_bonus:downside/kindNoneassumption
/operating_model/cells/downside_2026q4_cash_bonus:downside/labelNonePerformance cash-bonus allowance
/operating_model/cells/downside_2026q4_cash_bonus:downside/periodNone2026Q4
/operating_model/cells/downside_2026q4_cash_bonus:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q4_cash_bonus:downside/valueNone0.0
/operating_model/cells/downside_2026q4_cash_interest:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2026q4_cash_interest:downside/caseNonedownside
/operating_model/cells/downside_2026q4_cash_interest:downside/idNonedownside_2026q4_cash_interest
/operating_model/cells/downside_2026q4_cash_interest:downside/kindNoneassumption
/operating_model/cells/downside_2026q4_cash_interest:downside/labelNoneCash debt interest
/operating_model/cells/downside_2026q4_cash_interest:downside/periodNone2026Q4
/operating_model/cells/downside_2026q4_cash_interest:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q4_cash_interest:downside/valueNone0.2
/operating_model/cells/downside_2026q4_cash_interest_income:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2026q4_cash_interest_income:downside/caseNonedownside
/operating_model/cells/downside_2026q4_cash_interest_income:downside/idNonedownside_2026q4_cash_interest_income
/operating_model/cells/downside_2026q4_cash_interest_income:downside/kindNoneassumption
/operating_model/cells/downside_2026q4_cash_interest_income:downside/labelNoneCash interest income
/operating_model/cells/downside_2026q4_cash_interest_income:downside/periodNone2026Q4
/operating_model/cells/downside_2026q4_cash_interest_income:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q4_cash_interest_income:downside/valueNone2.0
/operating_model/cells/downside_2026q4_cash_opex:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2026q4_cash_opex:downside/caseNonedownside
/operating_model/cells/downside_2026q4_cash_opex:downside/idNonedownside_2026q4_cash_opex
/operating_model/cells/downside_2026q4_cash_opex:downside/kindNoneassumption
/operating_model/cells/downside_2026q4_cash_opex:downside/labelNoneCash corporate R&D and selling expense
/operating_model/cells/downside_2026q4_cash_opex:downside/periodNone2026Q4
/operating_model/cells/downside_2026q4_cash_opex:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q4_cash_opex:downside/valueNone15.719999999999999
/operating_model/cells/downside_2026q4_cash_tax:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2026q4_cash_tax:downside/caseNonedownside
/operating_model/cells/downside_2026q4_cash_tax:downside/idNonedownside_2026q4_cash_tax
/operating_model/cells/downside_2026q4_cash_tax:downside/kindNoneassumption
/operating_model/cells/downside_2026q4_cash_tax:downside/labelNoneCash tax
/operating_model/cells/downside_2026q4_cash_tax:downside/periodNone2026Q4
/operating_model/cells/downside_2026q4_cash_tax:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q4_cash_tax:downside/valueNone2.5
/operating_model/cells/downside_2026q4_cash_uses:downside/basisNoneProject input prepayments are shown separately in strategic cash.
/operating_model/cells/downside_2026q4_cash_uses:downside/caseNonedownside
/operating_model/cells/downside_2026q4_cash_uses:downside/formula/opNonesum
/operating_model/cells/downside_2026q4_cash_uses:downside/formula/refs/0Nonedownside_2026q4_cash_tax
/operating_model/cells/downside_2026q4_cash_uses:downside/formula/refs/1Nonedownside_2026q4_cash_interest
/operating_model/cells/downside_2026q4_cash_uses:downside/formula/refs/2Nonedownside_2026q4_inventory_other_cash
/operating_model/cells/downside_2026q4_cash_uses:downside/formula/refs/3Nonedownside_2026q4_pass_inventory_cash
/operating_model/cells/downside_2026q4_cash_uses:downside/idNonedownside_2026q4_cash_uses
/operating_model/cells/downside_2026q4_cash_uses:downside/kindNonederived
/operating_model/cells/downside_2026q4_cash_uses:downside/labelNoneTax interest and working capital
/operating_model/cells/downside_2026q4_cash_uses:downside/periodNone2026Q4
/operating_model/cells/downside_2026q4_cash_uses:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q4_cash_uses:downside/valueNone31.799999999999997
/operating_model/cells/downside_2026q4_cfo:downside/basisNoneNo current-period preferred cash dividend.
/operating_model/cells/downside_2026q4_cfo:downside/caseNonedownside
/operating_model/cells/downside_2026q4_cfo:downside/formula/opNonesubtract
/operating_model/cells/downside_2026q4_cfo:downside/formula/refs/0Nonedownside_2026q4_operating_cash_earnings
/operating_model/cells/downside_2026q4_cfo:downside/formula/refs/1Nonedownside_2026q4_cash_uses
/operating_model/cells/downside_2026q4_cfo:downside/idNonedownside_2026q4_cfo
/operating_model/cells/downside_2026q4_cfo:downside/kindNonederived
/operating_model/cells/downside_2026q4_cfo:downside/labelNoneOperating cash flow proxy
/operating_model/cells/downside_2026q4_cfo:downside/periodNone2026Q4
/operating_model/cells/downside_2026q4_cfo:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q4_cfo:downside/valueNone-30.619615599999996
/operating_model/cells/downside_2026q4_core_margin:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2026q4_core_margin:downside/caseNonedownside
/operating_model/cells/downside_2026q4_core_margin:downside/idNonedownside_2026q4_core_margin
/operating_model/cells/downside_2026q4_core_margin:downside/kindNoneassumption
/operating_model/cells/downside_2026q4_core_margin:downside/labelNoneCore gross margin
/operating_model/cells/downside_2026q4_core_margin:downside/periodNone2026Q4
/operating_model/cells/downside_2026q4_core_margin:downside/unitNoneratio
/operating_model/cells/downside_2026q4_core_margin:downside/valueNone0.22
/operating_model/cells/downside_2026q4_core_revenue:downside/basisNoneCurrent manufacturing and conditional acquired operations; stockpile is separate.
/operating_model/cells/downside_2026q4_core_revenue:downside/caseNonedownside
/operating_model/cells/downside_2026q4_core_revenue:downside/formula/opNonesum
/operating_model/cells/downside_2026q4_core_revenue:downside/formula/refs/0Nonedownside_2026q4_legacy_demand
/operating_model/cells/downside_2026q4_core_revenue:downside/formula/refs/1Nonedownside_2026q4_metal_pass
/operating_model/cells/downside_2026q4_core_revenue:downside/formula/refs/2Nonedownside_2026q4_german_revenue
/operating_model/cells/downside_2026q4_core_revenue:downside/idNonedownside_2026q4_core_revenue
/operating_model/cells/downside_2026q4_core_revenue:downside/kindNonederived
/operating_model/cells/downside_2026q4_core_revenue:downside/labelNoneCore and acquired revenue
/operating_model/cells/downside_2026q4_core_revenue:downside/periodNone2026Q4
/operating_model/cells/downside_2026q4_core_revenue:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q4_core_revenue:downside/valueNone82.72901999999999
/operating_model/cells/downside_2026q4_da:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2026q4_da:downside/caseNonedownside
/operating_model/cells/downside_2026q4_da:downside/idNonedownside_2026q4_da
/operating_model/cells/downside_2026q4_da:downside/kindNoneassumption
/operating_model/cells/downside_2026q4_da:downside/labelNoneOperating D&A
/operating_model/cells/downside_2026q4_da:downside/periodNone2026Q4
/operating_model/cells/downside_2026q4_da:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q4_da:downside/valueNone2.5
/operating_model/cells/downside_2026q4_demand_index:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2026q4_demand_index:downside/caseNonedownside
/operating_model/cells/downside_2026q4_demand_index:downside/idNonedownside_2026q4_demand_index
/operating_model/cells/downside_2026q4_demand_index:downside/kindNoneassumption
/operating_model/cells/downside_2026q4_demand_index:downside/labelNoneNet volume and mix versus Q2
/operating_model/cells/downside_2026q4_demand_index:downside/periodNone2026Q4
/operating_model/cells/downside_2026q4_demand_index:downside/unitNoneratio
/operating_model/cells/downside_2026q4_demand_index:downside/valueNone1.02
/operating_model/cells/downside_2026q4_eur_usd:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2026q4_eur_usd:downside/caseNonedownside
/operating_model/cells/downside_2026q4_eur_usd:downside/idNonedownside_2026q4_eur_usd
/operating_model/cells/downside_2026q4_eur_usd:downside/kindNoneassumption
/operating_model/cells/downside_2026q4_eur_usd:downside/labelNoneUSD per EUR conversion
/operating_model/cells/downside_2026q4_eur_usd:downside/periodNone2026Q4
/operating_model/cells/downside_2026q4_eur_usd:downside/unitNoneratio
/operating_model/cells/downside_2026q4_eur_usd:downside/valueNone1.15
/operating_model/cells/downside_2026q4_funding_weight:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2026q4_funding_weight:downside/caseNonedownside
/operating_model/cells/downside_2026q4_funding_weight:downside/idNonedownside_2026q4_funding_weight
/operating_model/cells/downside_2026q4_funding_weight:downside/kindNoneassumption
/operating_model/cells/downside_2026q4_funding_weight:downside/labelNoneNew funding quarter weight
/operating_model/cells/downside_2026q4_funding_weight:downside/periodNone2026Q4
/operating_model/cells/downside_2026q4_funding_weight:downside/unitNoneratio
/operating_model/cells/downside_2026q4_funding_weight:downside/valueNone0.25
/operating_model/cells/downside_2026q4_german_eur_amount:downside/basisNoneDesk working capital and net pension assumptions in contractual price formula; signed amount can be negative.
/operating_model/cells/downside_2026q4_german_eur_amount:downside/caseNonedownside
/operating_model/cells/downside_2026q4_german_eur_amount:downside/idNonedownside_2026q4_german_eur_amount
/operating_model/cells/downside_2026q4_german_eur_amount:downside/kindNoneassumption
/operating_model/cells/downside_2026q4_german_eur_amount:downside/labelNoneGerman net price sensitivity, EUR millions represented at 1:1 before FX
/operating_model/cells/downside_2026q4_german_eur_amount:downside/periodNone2026Q4
/operating_model/cells/downside_2026q4_german_eur_amount:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q4_german_eur_amount:downside/valueNone0.0
/operating_model/cells/downside_2026q4_german_gross:downside/basisNoneUnverified post-close margin.
/operating_model/cells/downside_2026q4_german_gross:downside/caseNonedownside
/operating_model/cells/downside_2026q4_german_gross:downside/formula/opNonemultiply
/operating_model/cells/downside_2026q4_german_gross:downside/formula/refs/0Nonedownside_2026q4_german_revenue
/operating_model/cells/downside_2026q4_german_gross:downside/formula/refs/1Nonedownside_2026q4_german_margin
/operating_model/cells/downside_2026q4_german_gross:downside/idNonedownside_2026q4_german_gross
/operating_model/cells/downside_2026q4_german_gross:downside/kindNonederived
/operating_model/cells/downside_2026q4_german_gross:downside/labelNoneGerman gross contribution
/operating_model/cells/downside_2026q4_german_gross:downside/periodNone2026Q4
/operating_model/cells/downside_2026q4_german_gross:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q4_german_gross:downside/valueNone0.0
/operating_model/cells/downside_2026q4_german_margin:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2026q4_german_margin:downside/caseNonedownside
/operating_model/cells/downside_2026q4_german_margin:downside/idNonedownside_2026q4_german_margin
/operating_model/cells/downside_2026q4_german_margin:downside/kindNoneassumption
/operating_model/cells/downside_2026q4_german_margin:downside/labelNoneAcquired gross margin
/operating_model/cells/downside_2026q4_german_margin:downside/periodNone2026Q4
/operating_model/cells/downside_2026q4_german_margin:downside/unitNoneratio
/operating_model/cells/downside_2026q4_german_margin:downside/valueNone0.18
/operating_model/cells/downside_2026q4_german_price:downside/basisNoneScenario only; metal inventory and pension measurement can materially change final consideration.
/operating_model/cells/downside_2026q4_german_price:downside/caseNonedownside
/operating_model/cells/downside_2026q4_german_price:downside/formula/opNonemultiply
/operating_model/cells/downside_2026q4_german_price:downside/formula/refs/0Nonedownside_2026q4_german_eur_amount
/operating_model/cells/downside_2026q4_german_price:downside/formula/refs/1Nonedownside_2026q4_eur_usd
/operating_model/cells/downside_2026q4_german_price:downside/idNonedownside_2026q4_german_price
/operating_model/cells/downside_2026q4_german_price:downside/kindNonederived
/operating_model/cells/downside_2026q4_german_price:downside/labelNoneConditional German closing cash in USD
/operating_model/cells/downside_2026q4_german_price:downside/periodNone2026Q4
/operating_model/cells/downside_2026q4_german_price:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q4_german_price:downside/valueNone0.0
/operating_model/cells/downside_2026q4_german_revenue:downside/basisNoneDesk acquired-period contribution only after assumed closing; transaction remains conditional.
/operating_model/cells/downside_2026q4_german_revenue:downside/caseNonedownside
/operating_model/cells/downside_2026q4_german_revenue:downside/idNonedownside_2026q4_german_revenue
/operating_model/cells/downside_2026q4_german_revenue:downside/kindNoneassumption
/operating_model/cells/downside_2026q4_german_revenue:downside/labelNoneConditional acquired German revenue
/operating_model/cells/downside_2026q4_german_revenue:downside/periodNone2026Q4
/operating_model/cells/downside_2026q4_german_revenue:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q4_german_revenue:downside/valueNone0.0
/operating_model/cells/downside_2026q4_gross_profit:downside/basisNoneCompany forecasts are not supplied for the new program.
/operating_model/cells/downside_2026q4_gross_profit:downside/caseNonedownside
/operating_model/cells/downside_2026q4_gross_profit:downside/formula/opNonesum
/operating_model/cells/downside_2026q4_gross_profit:downside/formula/refs/0Nonedownside_2026q4_legacy_gross
/operating_model/cells/downside_2026q4_gross_profit:downside/formula/refs/1Nonedownside_2026q4_price_gross
/operating_model/cells/downside_2026q4_gross_profit:downside/formula/refs/2Nonedownside_2026q4_german_gross
/operating_model/cells/downside_2026q4_gross_profit:downside/formula/refs/3Nonedownside_2026q4_stockpile_gross
/operating_model/cells/downside_2026q4_gross_profit:downside/idNonedownside_2026q4_gross_profit
/operating_model/cells/downside_2026q4_gross_profit:downside/kindNonederived
/operating_model/cells/downside_2026q4_gross_profit:downside/labelNoneGross profit proxy
/operating_model/cells/downside_2026q4_gross_profit:downside/periodNone2026Q4
/operating_model/cells/downside_2026q4_gross_profit:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q4_gross_profit:downside/valueNone14.900384399999998
/operating_model/cells/downside_2026q4_inventory_other_cash:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2026q4_inventory_other_cash:downside/caseNonedownside
/operating_model/cells/downside_2026q4_inventory_other_cash:downside/idNonedownside_2026q4_inventory_other_cash
/operating_model/cells/downside_2026q4_inventory_other_cash:downside/kindNoneassumption
/operating_model/cells/downside_2026q4_inventory_other_cash:downside/labelNoneInventory and other working-capital use
/operating_model/cells/downside_2026q4_inventory_other_cash:downside/periodNone2026Q4
/operating_model/cells/downside_2026q4_inventory_other_cash:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q4_inventory_other_cash:downside/valueNone21.599999999999998
/operating_model/cells/downside_2026q4_inventory_price_fraction:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2026q4_inventory_price_fraction:downside/caseNonedownside
/operating_model/cells/downside_2026q4_inventory_price_fraction:downside/idNonedownside_2026q4_inventory_price_fraction
/operating_model/cells/downside_2026q4_inventory_price_fraction:downside/kindNoneassumption
/operating_model/cells/downside_2026q4_inventory_price_fraction:downside/labelNonePrice-related inventory funding share
/operating_model/cells/downside_2026q4_inventory_price_fraction:downside/periodNone2026Q4
/operating_model/cells/downside_2026q4_inventory_price_fraction:downside/unitNoneratio
/operating_model/cells/downside_2026q4_inventory_price_fraction:downside/valueNone0.5
/operating_model/cells/downside_2026q4_legacy_demand:downside/basisNoneDemand separated from incremental metal-price pass-through.
/operating_model/cells/downside_2026q4_legacy_demand:downside/caseNonedownside
/operating_model/cells/downside_2026q4_legacy_demand:downside/formula/opNonemultiply
/operating_model/cells/downside_2026q4_legacy_demand:downside/formula/refs/0Noneq2_revenue
/operating_model/cells/downside_2026q4_legacy_demand:downside/formula/refs/1Nonedownside_2026q4_demand_index
/operating_model/cells/downside_2026q4_legacy_demand:downside/idNonedownside_2026q4_legacy_demand
/operating_model/cells/downside_2026q4_legacy_demand:downside/kindNonederived
/operating_model/cells/downside_2026q4_legacy_demand:downside/labelNoneLegacy revenue at reference metal prices
/operating_model/cells/downside_2026q4_legacy_demand:downside/periodNone2026Q4
/operating_model/cells/downside_2026q4_legacy_demand:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q4_legacy_demand:downside/valueNone67.72901999999999
/operating_model/cells/downside_2026q4_legacy_gross:downside/basisNoneIndependent operating-margin scenario.
/operating_model/cells/downside_2026q4_legacy_gross:downside/caseNonedownside
/operating_model/cells/downside_2026q4_legacy_gross:downside/formula/opNonemultiply
/operating_model/cells/downside_2026q4_legacy_gross:downside/formula/refs/0Nonedownside_2026q4_legacy_demand
/operating_model/cells/downside_2026q4_legacy_gross:downside/formula/refs/1Nonedownside_2026q4_core_margin
/operating_model/cells/downside_2026q4_legacy_gross:downside/idNonedownside_2026q4_legacy_gross
/operating_model/cells/downside_2026q4_legacy_gross:downside/kindNonederived
/operating_model/cells/downside_2026q4_legacy_gross:downside/labelNoneLegacy gross profit
/operating_model/cells/downside_2026q4_legacy_gross:downside/periodNone2026Q4
/operating_model/cells/downside_2026q4_legacy_gross:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q4_legacy_gross:downside/valueNone14.900384399999998
/operating_model/cells/downside_2026q4_metal_cost:downside/basisNoneAt 100% pass-through, higher commodity prices do not create gross profit.
/operating_model/cells/downside_2026q4_metal_cost:downside/caseNonedownside
/operating_model/cells/downside_2026q4_metal_cost:downside/formula/opNonemultiply
/operating_model/cells/downside_2026q4_metal_cost:downside/formula/refs/0Nonedownside_2026q4_metal_pass
/operating_model/cells/downside_2026q4_metal_cost:downside/formula/refs/1Nonedownside_2026q4_pass_cost_ratio
/operating_model/cells/downside_2026q4_metal_cost:downside/idNonedownside_2026q4_metal_cost
/operating_model/cells/downside_2026q4_metal_cost:downside/kindNonederived
/operating_model/cells/downside_2026q4_metal_cost:downside/labelNoneMatched input price cost
/operating_model/cells/downside_2026q4_metal_cost:downside/periodNone2026Q4
/operating_model/cells/downside_2026q4_metal_cost:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q4_metal_cost:downside/valueNone15.0
/operating_model/cells/downside_2026q4_metal_pass:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2026q4_metal_pass:downside/caseNonedownside
/operating_model/cells/downside_2026q4_metal_pass:downside/idNonedownside_2026q4_metal_pass
/operating_model/cells/downside_2026q4_metal_pass:downside/kindNoneassumption
/operating_model/cells/downside_2026q4_metal_pass:downside/labelNoneIncremental raw-material price pass-through
/operating_model/cells/downside_2026q4_metal_pass:downside/periodNone2026Q4
/operating_model/cells/downside_2026q4_metal_pass:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q4_metal_pass:downside/valueNone15.0
/operating_model/cells/downside_2026q4_new_pik_basis:downside/basisNoneInitial 19-day approximate accrual; later tranches assumed late-quarter.
/operating_model/cells/downside_2026q4_new_pik_basis:downside/caseNonedownside
/operating_model/cells/downside_2026q4_new_pik_basis:downside/formula/opNonemultiply
/operating_model/cells/downside_2026q4_new_pik_basis:downside/formula/refs/0Nonedownside_2026q4_preferred_funding
/operating_model/cells/downside_2026q4_new_pik_basis:downside/formula/refs/1Nonedownside_2026q4_funding_weight
/operating_model/cells/downside_2026q4_new_pik_basis:downside/idNonedownside_2026q4_new_pik_basis
/operating_model/cells/downside_2026q4_new_pik_basis:downside/kindNonederived
/operating_model/cells/downside_2026q4_new_pik_basis:downside/labelNoneNew funding weighted for partial quarter
/operating_model/cells/downside_2026q4_new_pik_basis:downside/periodNone2026Q4
/operating_model/cells/downside_2026q4_new_pik_basis:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q4_new_pik_basis:downside/valueNone0.0
/operating_model/cells/downside_2026q4_operating_cash_earnings:downside/basisNoneNo debt forgiveness or financing gain.
/operating_model/cells/downside_2026q4_operating_cash_earnings:downside/caseNonedownside
/operating_model/cells/downside_2026q4_operating_cash_earnings:downside/formula/opNonesum
/operating_model/cells/downside_2026q4_operating_cash_earnings:downside/formula/refs/0Nonedownside_2026q4_operating_income
/operating_model/cells/downside_2026q4_operating_cash_earnings:downside/formula/refs/1Nonedownside_2026q4_sbc
/operating_model/cells/downside_2026q4_operating_cash_earnings:downside/formula/refs/2Nonedownside_2026q4_da
/operating_model/cells/downside_2026q4_operating_cash_earnings:downside/formula/refs/3Nonedownside_2026q4_cash_interest_income
/operating_model/cells/downside_2026q4_operating_cash_earnings:downside/idNonedownside_2026q4_operating_cash_earnings
/operating_model/cells/downside_2026q4_operating_cash_earnings:downside/kindNonederived
/operating_model/cells/downside_2026q4_operating_cash_earnings:downside/labelNoneOperating earnings plus noncash and interest
/operating_model/cells/downside_2026q4_operating_cash_earnings:downside/periodNone2026Q4
/operating_model/cells/downside_2026q4_operating_cash_earnings:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q4_operating_cash_earnings:downside/valueNone1.1803844000000003
/operating_model/cells/downside_2026q4_operating_income:downside/basisNonePreferred PIK is below operating economics, not operating expense.
/operating_model/cells/downside_2026q4_operating_income:downside/caseNonedownside
/operating_model/cells/downside_2026q4_operating_income:downside/formula/opNonesubtract
/operating_model/cells/downside_2026q4_operating_income:downside/formula/refs/0Nonedownside_2026q4_gross_profit
/operating_model/cells/downside_2026q4_operating_income:downside/formula/refs/1Nonedownside_2026q4_opex
/operating_model/cells/downside_2026q4_operating_income:downside/idNonedownside_2026q4_operating_income
/operating_model/cells/downside_2026q4_operating_income:downside/kindNonederived
/operating_model/cells/downside_2026q4_operating_income:downside/labelNoneOperating income proxy
/operating_model/cells/downside_2026q4_operating_income:downside/periodNone2026Q4
/operating_model/cells/downside_2026q4_operating_income:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q4_operating_income:downside/valueNone-5.5196156
/operating_model/cells/downside_2026q4_opex:downside/basisNoneNo repeat of H1 IPO SBC as if recurring every quarter.
/operating_model/cells/downside_2026q4_opex:downside/caseNonedownside
/operating_model/cells/downside_2026q4_opex:downside/formula/opNonesum
/operating_model/cells/downside_2026q4_opex:downside/formula/refs/0Nonedownside_2026q4_cash_opex
/operating_model/cells/downside_2026q4_opex:downside/formula/refs/1Nonedownside_2026q4_sbc
/operating_model/cells/downside_2026q4_opex:downside/formula/refs/2Nonedownside_2026q4_da
/operating_model/cells/downside_2026q4_opex:downside/formula/refs/3Nonedownside_2026q4_cash_bonus
/operating_model/cells/downside_2026q4_opex:downside/idNonedownside_2026q4_opex
/operating_model/cells/downside_2026q4_opex:downside/kindNonederived
/operating_model/cells/downside_2026q4_opex:downside/labelNoneCash overhead SBC and D&A
/operating_model/cells/downside_2026q4_opex:downside/periodNone2026Q4
/operating_model/cells/downside_2026q4_opex:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q4_opex:downside/valueNone20.419999999999998
/operating_model/cells/downside_2026q4_pass_cost_ratio:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2026q4_pass_cost_ratio:downside/caseNonedownside
/operating_model/cells/downside_2026q4_pass_cost_ratio:downside/idNonedownside_2026q4_pass_cost_ratio
/operating_model/cells/downside_2026q4_pass_cost_ratio:downside/kindNoneassumption
/operating_model/cells/downside_2026q4_pass_cost_ratio:downside/labelNoneInput-cost share of pass-through
/operating_model/cells/downside_2026q4_pass_cost_ratio:downside/periodNone2026Q4
/operating_model/cells/downside_2026q4_pass_cost_ratio:downside/unitNoneratio
/operating_model/cells/downside_2026q4_pass_cost_ratio:downside/valueNone1.0
/operating_model/cells/downside_2026q4_pass_inventory_cash:downside/basisNoneCommodity inflation can tie up cash despite matched gross profit.
/operating_model/cells/downside_2026q4_pass_inventory_cash:downside/caseNonedownside
/operating_model/cells/downside_2026q4_pass_inventory_cash:downside/formula/opNonemultiply
/operating_model/cells/downside_2026q4_pass_inventory_cash:downside/formula/refs/0Nonedownside_2026q4_metal_pass
/operating_model/cells/downside_2026q4_pass_inventory_cash:downside/formula/refs/1Nonedownside_2026q4_inventory_price_fraction
/operating_model/cells/downside_2026q4_pass_inventory_cash:downside/idNonedownside_2026q4_pass_inventory_cash
/operating_model/cells/downside_2026q4_pass_inventory_cash:downside/kindNonederived
/operating_model/cells/downside_2026q4_pass_inventory_cash:downside/labelNoneAdditional price-related inventory funding
/operating_model/cells/downside_2026q4_pass_inventory_cash:downside/periodNone2026Q4
/operating_model/cells/downside_2026q4_pass_inventory_cash:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q4_pass_inventory_cash:downside/valueNone7.5
/operating_model/cells/downside_2026q4_pik_basis:downside/basisNoneExisting balance includes prior PIK compounding.
/operating_model/cells/downside_2026q4_pik_basis:downside/caseNonedownside
/operating_model/cells/downside_2026q4_pik_basis:downside/formula/opNonesum
/operating_model/cells/downside_2026q4_pik_basis:downside/formula/refs/0Nonedownside_2026q3_preferred_ending
/operating_model/cells/downside_2026q4_pik_basis:downside/formula/refs/1Nonedownside_2026q4_new_pik_basis
/operating_model/cells/downside_2026q4_pik_basis:downside/idNonedownside_2026q4_pik_basis
/operating_model/cells/downside_2026q4_pik_basis:downside/kindNonederived
/operating_model/cells/downside_2026q4_pik_basis:downside/labelNoneWeighted preferred claim for PIK
/operating_model/cells/downside_2026q4_pik_basis:downside/periodNone2026Q4
/operating_model/cells/downside_2026q4_pik_basis:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q4_pik_basis:downside/valueNone200.57417582417582
/operating_model/cells/downside_2026q4_preferred_ending:downside/basisNoneStock balance, not an annual flow; ignores warrant-linked liquidation preference reductions.
/operating_model/cells/downside_2026q4_preferred_ending:downside/caseNonedownside
/operating_model/cells/downside_2026q4_preferred_ending:downside/formula/opNonesum
/operating_model/cells/downside_2026q4_preferred_ending:downside/formula/refs/0Nonedownside_2026q3_preferred_ending
/operating_model/cells/downside_2026q4_preferred_ending:downside/formula/refs/1Nonedownside_2026q4_preferred_funding
/operating_model/cells/downside_2026q4_preferred_ending:downside/formula/refs/2Nonedownside_2026q4_preferred_pik
/operating_model/cells/downside_2026q4_preferred_ending:downside/idNonedownside_2026q4_preferred_ending
/operating_model/cells/downside_2026q4_preferred_ending:downside/kindNonederived
/operating_model/cells/downside_2026q4_preferred_ending:downside/labelNoneEnding preferred claim before warrant adjustments
/operating_model/cells/downside_2026q4_preferred_ending:downside/periodNone2026Q4
/operating_model/cells/downside_2026q4_preferred_ending:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q4_preferred_ending:downside/valueNone203.33207074175823
/operating_model/cells/downside_2026q4_preferred_funding:downside/basisNoneInitial $200M received September 14; any later $50M receipt is conditional and respects six-month tranche availability.
/operating_model/cells/downside_2026q4_preferred_funding:downside/caseNonedownside
/operating_model/cells/downside_2026q4_preferred_funding:downside/idNonedownside_2026q4_preferred_funding
/operating_model/cells/downside_2026q4_preferred_funding:downside/kindNoneassumption
/operating_model/cells/downside_2026q4_preferred_funding:downside/labelNonePreferred financing receipts
/operating_model/cells/downside_2026q4_preferred_funding:downside/periodNone2026Q4
/operating_model/cells/downside_2026q4_preferred_funding:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q4_preferred_funding:downside/valueNone0.0
/operating_model/cells/downside_2026q4_preferred_pik:downside/basisNoneNoncash senior claim; no deduction from current-period cash.
/operating_model/cells/downside_2026q4_preferred_pik:downside/caseNonedownside
/operating_model/cells/downside_2026q4_preferred_pik:downside/formula/opNonemultiply
/operating_model/cells/downside_2026q4_preferred_pik:downside/formula/refs/0Nonedownside_2026q4_pik_basis
/operating_model/cells/downside_2026q4_preferred_pik:downside/formula/refs/1Nonepreferred_rate
/operating_model/cells/downside_2026q4_preferred_pik:downside/formula/refs/2Nonedownside_2026q4_quarter_year
/operating_model/cells/downside_2026q4_preferred_pik:downside/idNonedownside_2026q4_preferred_pik
/operating_model/cells/downside_2026q4_preferred_pik:downside/kindNonederived
/operating_model/cells/downside_2026q4_preferred_pik:downside/labelNonePreferred economic PIK accrual
/operating_model/cells/downside_2026q4_preferred_pik:downside/periodNone2026Q4
/operating_model/cells/downside_2026q4_preferred_pik:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q4_preferred_pik:downside/valueNone2.7578949175824174
/operating_model/cells/downside_2026q4_price_gross:downside/basisNoneMismatch sensitivity is explicit.
/operating_model/cells/downside_2026q4_price_gross:downside/caseNonedownside
/operating_model/cells/downside_2026q4_price_gross:downside/formula/opNonesubtract
/operating_model/cells/downside_2026q4_price_gross:downside/formula/refs/0Nonedownside_2026q4_metal_pass
/operating_model/cells/downside_2026q4_price_gross:downside/formula/refs/1Nonedownside_2026q4_metal_cost
/operating_model/cells/downside_2026q4_price_gross:downside/idNonedownside_2026q4_price_gross
/operating_model/cells/downside_2026q4_price_gross:downside/kindNonederived
/operating_model/cells/downside_2026q4_price_gross:downside/labelNoneIncremental price pass-through gross profit
/operating_model/cells/downside_2026q4_price_gross:downside/periodNone2026Q4
/operating_model/cells/downside_2026q4_price_gross:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q4_price_gross:downside/valueNone0.0
/operating_model/cells/downside_2026q4_quarter_year:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2026q4_quarter_year:downside/caseNonedownside
/operating_model/cells/downside_2026q4_quarter_year:downside/idNonedownside_2026q4_quarter_year
/operating_model/cells/downside_2026q4_quarter_year:downside/kindNoneassumption
/operating_model/cells/downside_2026q4_quarter_year:downside/labelNoneQuarter-year fraction
/operating_model/cells/downside_2026q4_quarter_year:downside/periodNone2026Q4
/operating_model/cells/downside_2026q4_quarter_year:downside/unitNoneratio
/operating_model/cells/downside_2026q4_quarter_year:downside/valueNone0.25
/operating_model/cells/downside_2026q4_raw_prepay:downside/basisNoneDesk first and milestone-conditioned second $25M funding; later negative amounts are consumption/settlement credits, not new revenue.
/operating_model/cells/downside_2026q4_raw_prepay:downside/caseNonedownside
/operating_model/cells/downside_2026q4_raw_prepay:downside/idNonedownside_2026q4_raw_prepay
/operating_model/cells/downside_2026q4_raw_prepay:downside/kindNoneassumption
/operating_model/cells/downside_2026q4_raw_prepay:downside/labelNoneNet new raw-material prepayments
/operating_model/cells/downside_2026q4_raw_prepay:downside/periodNone2026Q4
/operating_model/cells/downside_2026q4_raw_prepay:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q4_raw_prepay:downside/valueNone25.0
/operating_model/cells/downside_2026q4_revenue:downside/basisNoneNo recognition of preferred funding as revenue.
/operating_model/cells/downside_2026q4_revenue:downside/caseNonedownside
/operating_model/cells/downside_2026q4_revenue:downside/formula/opNonesum
/operating_model/cells/downside_2026q4_revenue:downside/formula/refs/0Nonedownside_2026q4_core_revenue
/operating_model/cells/downside_2026q4_revenue:downside/formula/refs/1Nonedownside_2026q4_stockpile_revenue
/operating_model/cells/downside_2026q4_revenue:downside/idNonedownside_2026q4_revenue
/operating_model/cells/downside_2026q4_revenue:downside/kindNonederived
/operating_model/cells/downside_2026q4_revenue:downside/labelNoneTotal revenue
/operating_model/cells/downside_2026q4_revenue:downside/periodNone2026Q4
/operating_model/cells/downside_2026q4_revenue:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q4_revenue:downside/valueNone82.72901999999999
/operating_model/cells/downside_2026q4_sbc:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2026q4_sbc:downside/caseNonedownside
/operating_model/cells/downside_2026q4_sbc:downside/idNonedownside_2026q4_sbc
/operating_model/cells/downside_2026q4_sbc:downside/kindNoneassumption
/operating_model/cells/downside_2026q4_sbc:downside/labelNoneSBC
/operating_model/cells/downside_2026q4_sbc:downside/periodNone2026Q4
/operating_model/cells/downside_2026q4_sbc:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q4_sbc:downside/valueNone2.2
/operating_model/cells/downside_2026q4_stock_margin:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2026q4_stock_margin:downside/caseNonedownside
/operating_model/cells/downside_2026q4_stock_margin:downside/idNonedownside_2026q4_stock_margin
/operating_model/cells/downside_2026q4_stock_margin:downside/kindNoneassumption
/operating_model/cells/downside_2026q4_stock_margin:downside/labelNoneStockpile gross margin
/operating_model/cells/downside_2026q4_stock_margin:downside/periodNone2026Q4
/operating_model/cells/downside_2026q4_stock_margin:downside/unitNoneratio
/operating_model/cells/downside_2026q4_stock_margin:downside/valueNone0.12
/operating_model/cells/downside_2026q4_stockpile_gross:downside/basisNoneProcured input cost is reflected in margin; no unsupported floor-price assumption.
/operating_model/cells/downside_2026q4_stockpile_gross:downside/caseNonedownside
/operating_model/cells/downside_2026q4_stockpile_gross:downside/formula/opNonemultiply
/operating_model/cells/downside_2026q4_stockpile_gross:downside/formula/refs/0Nonedownside_2026q4_stockpile_revenue
/operating_model/cells/downside_2026q4_stockpile_gross:downside/formula/refs/1Nonedownside_2026q4_stock_margin
/operating_model/cells/downside_2026q4_stockpile_gross:downside/idNonedownside_2026q4_stockpile_gross
/operating_model/cells/downside_2026q4_stockpile_gross:downside/kindNonederived
/operating_model/cells/downside_2026q4_stockpile_gross:downside/labelNoneStockpile gross contribution
/operating_model/cells/downside_2026q4_stockpile_gross:downside/periodNone2026Q4
/operating_model/cells/downside_2026q4_stockpile_gross:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q4_stockpile_gross:downside/valueNone0.0
/operating_model/cells/downside_2026q4_stockpile_revenue:downside/basisNoneSupply-qualified delivery assumption, not pro-rata recognition of the contract ceiling or minimum.
/operating_model/cells/downside_2026q4_stockpile_revenue:downside/caseNonedownside
/operating_model/cells/downside_2026q4_stockpile_revenue:downside/idNonedownside_2026q4_stockpile_revenue
/operating_model/cells/downside_2026q4_stockpile_revenue:downside/kindNoneassumption
/operating_model/cells/downside_2026q4_stockpile_revenue:downside/labelNoneAccepted incremental stockpile deliveries
/operating_model/cells/downside_2026q4_stockpile_revenue:downside/periodNone2026Q4
/operating_model/cells/downside_2026q4_stockpile_revenue:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q4_stockpile_revenue:downside/valueNone0.0
/operating_model/cells/downside_2026q4_strategic_cash:downside/basisNonePrepaid input consumption cash credits avoid charging both historical prepayment and subsequent COGS cash without adjustment.
/operating_model/cells/downside_2026q4_strategic_cash:downside/caseNonedownside
/operating_model/cells/downside_2026q4_strategic_cash:downside/formula/opNonesum
/operating_model/cells/downside_2026q4_strategic_cash:downside/formula/refs/0Nonedownside_2026q4_blue_moon
/operating_model/cells/downside_2026q4_strategic_cash:downside/formula/refs/1Nonedownside_2026q4_raw_prepay
/operating_model/cells/downside_2026q4_strategic_cash:downside/formula/refs/2Nonedownside_2026q4_german_price
/operating_model/cells/downside_2026q4_strategic_cash:downside/idNonedownside_2026q4_strategic_cash
/operating_model/cells/downside_2026q4_strategic_cash:downside/kindNonederived
/operating_model/cells/downside_2026q4_strategic_cash:downside/labelNoneMinority prepayment and acquisition cash
/operating_model/cells/downside_2026q4_strategic_cash:downside/periodNone2026Q4
/operating_model/cells/downside_2026q4_strategic_cash:downside/unitNoneUSD_millions
/operating_model/cells/downside_2026q4_strategic_cash:downside/valueNone50.55
/operating_model/cells/downside_2027q1_blue_moon:downside/basisNoneNo consolidated Blue Moon sales or market-value gains.
/operating_model/cells/downside_2027q1_blue_moon:downside/caseNonedownside
/operating_model/cells/downside_2027q1_blue_moon:downside/formula/opNonemultiply
/operating_model/cells/downside_2027q1_blue_moon:downside/formula/refs/0Nonedownside_2027q1_cad_commitment
/operating_model/cells/downside_2027q1_blue_moon:downside/formula/refs/1Nonedownside_2027q1_cad_usd
/operating_model/cells/downside_2027q1_blue_moon:downside/idNonedownside_2027q1_blue_moon
/operating_model/cells/downside_2027q1_blue_moon:downside/kindNonederived
/operating_model/cells/downside_2027q1_blue_moon:downside/labelNoneBlue Moon minority investment cash
/operating_model/cells/downside_2027q1_blue_moon:downside/periodNone2027Q1
/operating_model/cells/downside_2027q1_blue_moon:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q1_blue_moon:downside/valueNone0.0
/operating_model/cells/downside_2027q1_business_investment:downside/basisNoneNo initial government receipt netted into capex.
/operating_model/cells/downside_2027q1_business_investment:downside/caseNonedownside
/operating_model/cells/downside_2027q1_business_investment:downside/formula/opNonesum
/operating_model/cells/downside_2027q1_business_investment:downside/formula/refs/0Nonedownside_2027q1_capex
/operating_model/cells/downside_2027q1_business_investment:downside/formula/refs/1Nonedownside_2027q1_strategic_cash
/operating_model/cells/downside_2027q1_business_investment:downside/idNonedownside_2027q1_business_investment
/operating_model/cells/downside_2027q1_business_investment:downside/kindNonederived
/operating_model/cells/downside_2027q1_business_investment:downside/labelNonePP&E and strategic deployment
/operating_model/cells/downside_2027q1_business_investment:downside/periodNone2027Q1
/operating_model/cells/downside_2027q1_business_investment:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q1_business_investment:downside/valueNone45.0
/operating_model/cells/downside_2027q1_cad_commitment:downside/basisNoneBinding 3.5M-unit commitment at CAD10, within 45 days of September 14; expected in Q4 fiscal 2026.
/operating_model/cells/downside_2027q1_cad_commitment:downside/caseNonedownside
/operating_model/cells/downside_2027q1_cad_commitment:downside/idNonedownside_2027q1_cad_commitment
/operating_model/cells/downside_2027q1_cad_commitment:downside/kindNoneassumption
/operating_model/cells/downside_2027q1_cad_commitment:downside/labelNoneCAD35M investment at 1:1 before FX
/operating_model/cells/downside_2027q1_cad_commitment:downside/periodNone2027Q1
/operating_model/cells/downside_2027q1_cad_commitment:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q1_cad_commitment:downside/valueNone0.0
/operating_model/cells/downside_2027q1_cad_usd:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q1_cad_usd:downside/caseNonedownside
/operating_model/cells/downside_2027q1_cad_usd:downside/idNonedownside_2027q1_cad_usd
/operating_model/cells/downside_2027q1_cad_usd:downside/kindNoneassumption
/operating_model/cells/downside_2027q1_cad_usd:downside/labelNoneUSD per CAD assumption
/operating_model/cells/downside_2027q1_cad_usd:downside/periodNone2027Q1
/operating_model/cells/downside_2027q1_cad_usd:downside/unitNoneratio
/operating_model/cells/downside_2027q1_cad_usd:downside/valueNone0.73
/operating_model/cells/downside_2027q1_capex:downside/basisNoneConsolidated external investment includes domestic expansion and controlled JV plant; internal capital contributions are not counted again.
/operating_model/cells/downside_2027q1_capex:downside/caseNonedownside
/operating_model/cells/downside_2027q1_capex:downside/idNonedownside_2027q1_capex
/operating_model/cells/downside_2027q1_capex:downside/kindNoneassumption
/operating_model/cells/downside_2027q1_capex:downside/labelNoneExternal PP&E domestic and controlled-JV cash
/operating_model/cells/downside_2027q1_capex:downside/periodNone2027Q1
/operating_model/cells/downside_2027q1_capex:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q1_capex:downside/valueNone45.0
/operating_model/cells/downside_2027q1_cash_after_funding:downside/basisNonePeriod flow only; no claim that preferred cash is freely distributable.
/operating_model/cells/downside_2027q1_cash_after_funding:downside/caseNonedownside
/operating_model/cells/downside_2027q1_cash_after_funding:downside/formula/opNonesum
/operating_model/cells/downside_2027q1_cash_after_funding:downside/formula/refs/0Nonedownside_2027q1_cash_after_investing
/operating_model/cells/downside_2027q1_cash_after_funding:downside/formula/refs/1Nonedownside_2027q1_preferred_funding
/operating_model/cells/downside_2027q1_cash_after_funding:downside/idNonedownside_2027q1_cash_after_funding
/operating_model/cells/downside_2027q1_cash_after_funding:downside/kindNonederived
/operating_model/cells/downside_2027q1_cash_after_funding:downside/labelNoneCash after preferred financing
/operating_model/cells/downside_2027q1_cash_after_funding:downside/periodNone2027Q1
/operating_model/cells/downside_2027q1_cash_after_funding:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q1_cash_after_funding:downside/valueNone-80.7474512
/operating_model/cells/downside_2027q1_cash_after_investing:downside/basisNoneBefore preferred funding and other capital allocation.
/operating_model/cells/downside_2027q1_cash_after_investing:downside/caseNonedownside
/operating_model/cells/downside_2027q1_cash_after_investing:downside/formula/opNonesubtract
/operating_model/cells/downside_2027q1_cash_after_investing:downside/formula/refs/0Nonedownside_2027q1_cfo
/operating_model/cells/downside_2027q1_cash_after_investing:downside/formula/refs/1Nonedownside_2027q1_business_investment
/operating_model/cells/downside_2027q1_cash_after_investing:downside/idNonedownside_2027q1_cash_after_investing
/operating_model/cells/downside_2027q1_cash_after_investing:downside/kindNonederived
/operating_model/cells/downside_2027q1_cash_after_investing:downside/labelNoneCash after business investing
/operating_model/cells/downside_2027q1_cash_after_investing:downside/periodNone2027Q1
/operating_model/cells/downside_2027q1_cash_after_investing:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q1_cash_after_investing:downside/valueNone-80.7474512
/operating_model/cells/downside_2027q1_cash_bonus:downside/basisNoneMaximum September award shown as a Q2 2027 cash/expense sensitivity, conditional on employment and measurement criteria; not SBC.
/operating_model/cells/downside_2027q1_cash_bonus:downside/caseNonedownside
/operating_model/cells/downside_2027q1_cash_bonus:downside/idNonedownside_2027q1_cash_bonus
/operating_model/cells/downside_2027q1_cash_bonus:downside/kindNoneassumption
/operating_model/cells/downside_2027q1_cash_bonus:downside/labelNonePerformance cash-bonus allowance
/operating_model/cells/downside_2027q1_cash_bonus:downside/periodNone2027Q1
/operating_model/cells/downside_2027q1_cash_bonus:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q1_cash_bonus:downside/valueNone0.0
/operating_model/cells/downside_2027q1_cash_interest:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q1_cash_interest:downside/caseNonedownside
/operating_model/cells/downside_2027q1_cash_interest:downside/idNonedownside_2027q1_cash_interest
/operating_model/cells/downside_2027q1_cash_interest:downside/kindNoneassumption
/operating_model/cells/downside_2027q1_cash_interest:downside/labelNoneCash debt interest
/operating_model/cells/downside_2027q1_cash_interest:downside/periodNone2027Q1
/operating_model/cells/downside_2027q1_cash_interest:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q1_cash_interest:downside/valueNone0.2
/operating_model/cells/downside_2027q1_cash_interest_income:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q1_cash_interest_income:downside/caseNonedownside
/operating_model/cells/downside_2027q1_cash_interest_income:downside/idNonedownside_2027q1_cash_interest_income
/operating_model/cells/downside_2027q1_cash_interest_income:downside/kindNoneassumption
/operating_model/cells/downside_2027q1_cash_interest_income:downside/labelNoneCash interest income
/operating_model/cells/downside_2027q1_cash_interest_income:downside/periodNone2027Q1
/operating_model/cells/downside_2027q1_cash_interest_income:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q1_cash_interest_income:downside/valueNone2.0
/operating_model/cells/downside_2027q1_cash_opex:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q1_cash_opex:downside/caseNonedownside
/operating_model/cells/downside_2027q1_cash_opex:downside/idNonedownside_2027q1_cash_opex
/operating_model/cells/downside_2027q1_cash_opex:downside/kindNoneassumption
/operating_model/cells/downside_2027q1_cash_opex:downside/labelNoneCash corporate R&D and selling expense
/operating_model/cells/downside_2027q1_cash_opex:downside/periodNone2027Q1
/operating_model/cells/downside_2027q1_cash_opex:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q1_cash_opex:downside/valueNone17.04
/operating_model/cells/downside_2027q1_cash_tax:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q1_cash_tax:downside/caseNonedownside
/operating_model/cells/downside_2027q1_cash_tax:downside/idNonedownside_2027q1_cash_tax
/operating_model/cells/downside_2027q1_cash_tax:downside/kindNoneassumption
/operating_model/cells/downside_2027q1_cash_tax:downside/labelNoneCash tax
/operating_model/cells/downside_2027q1_cash_tax:downside/periodNone2027Q1
/operating_model/cells/downside_2027q1_cash_tax:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q1_cash_tax:downside/valueNone3.0
/operating_model/cells/downside_2027q1_cash_uses:downside/basisNoneProject input prepayments are shown separately in strategic cash.
/operating_model/cells/downside_2027q1_cash_uses:downside/caseNonedownside
/operating_model/cells/downside_2027q1_cash_uses:downside/formula/opNonesum
/operating_model/cells/downside_2027q1_cash_uses:downside/formula/refs/0Nonedownside_2027q1_cash_tax
/operating_model/cells/downside_2027q1_cash_uses:downside/formula/refs/1Nonedownside_2027q1_cash_interest
/operating_model/cells/downside_2027q1_cash_uses:downside/formula/refs/2Nonedownside_2027q1_inventory_other_cash
/operating_model/cells/downside_2027q1_cash_uses:downside/formula/refs/3Nonedownside_2027q1_pass_inventory_cash
/operating_model/cells/downside_2027q1_cash_uses:downside/idNonedownside_2027q1_cash_uses
/operating_model/cells/downside_2027q1_cash_uses:downside/kindNonederived
/operating_model/cells/downside_2027q1_cash_uses:downside/labelNoneTax interest and working capital
/operating_model/cells/downside_2027q1_cash_uses:downside/periodNone2027Q1
/operating_model/cells/downside_2027q1_cash_uses:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q1_cash_uses:downside/valueNone35.9
/operating_model/cells/downside_2027q1_cfo:downside/basisNoneNo current-period preferred cash dividend.
/operating_model/cells/downside_2027q1_cfo:downside/caseNonedownside
/operating_model/cells/downside_2027q1_cfo:downside/formula/opNonesubtract
/operating_model/cells/downside_2027q1_cfo:downside/formula/refs/0Nonedownside_2027q1_operating_cash_earnings
/operating_model/cells/downside_2027q1_cfo:downside/formula/refs/1Nonedownside_2027q1_cash_uses
/operating_model/cells/downside_2027q1_cfo:downside/idNonedownside_2027q1_cfo
/operating_model/cells/downside_2027q1_cfo:downside/kindNonederived
/operating_model/cells/downside_2027q1_cfo:downside/labelNoneOperating cash flow proxy
/operating_model/cells/downside_2027q1_cfo:downside/periodNone2027Q1
/operating_model/cells/downside_2027q1_cfo:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q1_cfo:downside/valueNone-35.74745119999999
/operating_model/cells/downside_2027q1_core_margin:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q1_core_margin:downside/caseNonedownside
/operating_model/cells/downside_2027q1_core_margin:downside/idNonedownside_2027q1_core_margin
/operating_model/cells/downside_2027q1_core_margin:downside/kindNoneassumption
/operating_model/cells/downside_2027q1_core_margin:downside/labelNoneCore gross margin
/operating_model/cells/downside_2027q1_core_margin:downside/periodNone2027Q1
/operating_model/cells/downside_2027q1_core_margin:downside/unitNoneratio
/operating_model/cells/downside_2027q1_core_margin:downside/valueNone0.22
/operating_model/cells/downside_2027q1_core_revenue:downside/basisNoneCurrent manufacturing and conditional acquired operations; stockpile is separate.
/operating_model/cells/downside_2027q1_core_revenue:downside/caseNonedownside
/operating_model/cells/downside_2027q1_core_revenue:downside/formula/opNonesum
/operating_model/cells/downside_2027q1_core_revenue:downside/formula/refs/0Nonedownside_2027q1_legacy_demand
/operating_model/cells/downside_2027q1_core_revenue:downside/formula/refs/1Nonedownside_2027q1_metal_pass
/operating_model/cells/downside_2027q1_core_revenue:downside/formula/refs/2Nonedownside_2027q1_german_revenue
/operating_model/cells/downside_2027q1_core_revenue:downside/idNonedownside_2027q1_core_revenue
/operating_model/cells/downside_2027q1_core_revenue:downside/kindNonederived
/operating_model/cells/downside_2027q1_core_revenue:downside/labelNoneCore and acquired revenue
/operating_model/cells/downside_2027q1_core_revenue:downside/periodNone2027Q1
/operating_model/cells/downside_2027q1_core_revenue:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q1_core_revenue:downside/valueNone84.05704
/operating_model/cells/downside_2027q1_da:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q1_da:downside/caseNonedownside
/operating_model/cells/downside_2027q1_da:downside/idNonedownside_2027q1_da
/operating_model/cells/downside_2027q1_da:downside/kindNoneassumption
/operating_model/cells/downside_2027q1_da:downside/labelNoneOperating D&A
/operating_model/cells/downside_2027q1_da:downside/periodNone2027Q1
/operating_model/cells/downside_2027q1_da:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q1_da:downside/valueNone3.0
/operating_model/cells/downside_2027q1_demand_index:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q1_demand_index:downside/caseNonedownside
/operating_model/cells/downside_2027q1_demand_index:downside/idNonedownside_2027q1_demand_index
/operating_model/cells/downside_2027q1_demand_index:downside/kindNoneassumption
/operating_model/cells/downside_2027q1_demand_index:downside/labelNoneNet volume and mix versus Q2
/operating_model/cells/downside_2027q1_demand_index:downside/periodNone2027Q1
/operating_model/cells/downside_2027q1_demand_index:downside/unitNoneratio
/operating_model/cells/downside_2027q1_demand_index:downside/valueNone1.04
/operating_model/cells/downside_2027q1_eur_usd:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q1_eur_usd:downside/caseNonedownside
/operating_model/cells/downside_2027q1_eur_usd:downside/idNonedownside_2027q1_eur_usd
/operating_model/cells/downside_2027q1_eur_usd:downside/kindNoneassumption
/operating_model/cells/downside_2027q1_eur_usd:downside/labelNoneUSD per EUR conversion
/operating_model/cells/downside_2027q1_eur_usd:downside/periodNone2027Q1
/operating_model/cells/downside_2027q1_eur_usd:downside/unitNoneratio
/operating_model/cells/downside_2027q1_eur_usd:downside/valueNone1.15
/operating_model/cells/downside_2027q1_funding_weight:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q1_funding_weight:downside/caseNonedownside
/operating_model/cells/downside_2027q1_funding_weight:downside/idNonedownside_2027q1_funding_weight
/operating_model/cells/downside_2027q1_funding_weight:downside/kindNoneassumption
/operating_model/cells/downside_2027q1_funding_weight:downside/labelNoneNew funding quarter weight
/operating_model/cells/downside_2027q1_funding_weight:downside/periodNone2027Q1
/operating_model/cells/downside_2027q1_funding_weight:downside/unitNoneratio
/operating_model/cells/downside_2027q1_funding_weight:downside/valueNone0.25
/operating_model/cells/downside_2027q1_german_eur_amount:downside/basisNoneDesk working capital and net pension assumptions in contractual price formula; signed amount can be negative.
/operating_model/cells/downside_2027q1_german_eur_amount:downside/caseNonedownside
/operating_model/cells/downside_2027q1_german_eur_amount:downside/idNonedownside_2027q1_german_eur_amount
/operating_model/cells/downside_2027q1_german_eur_amount:downside/kindNoneassumption
/operating_model/cells/downside_2027q1_german_eur_amount:downside/labelNoneGerman net price sensitivity, EUR millions represented at 1:1 before FX
/operating_model/cells/downside_2027q1_german_eur_amount:downside/periodNone2027Q1
/operating_model/cells/downside_2027q1_german_eur_amount:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q1_german_eur_amount:downside/valueNone0.0
/operating_model/cells/downside_2027q1_german_gross:downside/basisNoneUnverified post-close margin.
/operating_model/cells/downside_2027q1_german_gross:downside/caseNonedownside
/operating_model/cells/downside_2027q1_german_gross:downside/formula/opNonemultiply
/operating_model/cells/downside_2027q1_german_gross:downside/formula/refs/0Nonedownside_2027q1_german_revenue
/operating_model/cells/downside_2027q1_german_gross:downside/formula/refs/1Nonedownside_2027q1_german_margin
/operating_model/cells/downside_2027q1_german_gross:downside/idNonedownside_2027q1_german_gross
/operating_model/cells/downside_2027q1_german_gross:downside/kindNonederived
/operating_model/cells/downside_2027q1_german_gross:downside/labelNoneGerman gross contribution
/operating_model/cells/downside_2027q1_german_gross:downside/periodNone2027Q1
/operating_model/cells/downside_2027q1_german_gross:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q1_german_gross:downside/valueNone0.0
/operating_model/cells/downside_2027q1_german_margin:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q1_german_margin:downside/caseNonedownside
/operating_model/cells/downside_2027q1_german_margin:downside/idNonedownside_2027q1_german_margin
/operating_model/cells/downside_2027q1_german_margin:downside/kindNoneassumption
/operating_model/cells/downside_2027q1_german_margin:downside/labelNoneAcquired gross margin
/operating_model/cells/downside_2027q1_german_margin:downside/periodNone2027Q1
/operating_model/cells/downside_2027q1_german_margin:downside/unitNoneratio
/operating_model/cells/downside_2027q1_german_margin:downside/valueNone0.18
/operating_model/cells/downside_2027q1_german_price:downside/basisNoneScenario only; metal inventory and pension measurement can materially change final consideration.
/operating_model/cells/downside_2027q1_german_price:downside/caseNonedownside
/operating_model/cells/downside_2027q1_german_price:downside/formula/opNonemultiply
/operating_model/cells/downside_2027q1_german_price:downside/formula/refs/0Nonedownside_2027q1_german_eur_amount
/operating_model/cells/downside_2027q1_german_price:downside/formula/refs/1Nonedownside_2027q1_eur_usd
/operating_model/cells/downside_2027q1_german_price:downside/idNonedownside_2027q1_german_price
/operating_model/cells/downside_2027q1_german_price:downside/kindNonederived
/operating_model/cells/downside_2027q1_german_price:downside/labelNoneConditional German closing cash in USD
/operating_model/cells/downside_2027q1_german_price:downside/periodNone2027Q1
/operating_model/cells/downside_2027q1_german_price:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q1_german_price:downside/valueNone0.0
/operating_model/cells/downside_2027q1_german_revenue:downside/basisNoneDesk acquired-period contribution only after assumed closing; transaction remains conditional.
/operating_model/cells/downside_2027q1_german_revenue:downside/caseNonedownside
/operating_model/cells/downside_2027q1_german_revenue:downside/idNonedownside_2027q1_german_revenue
/operating_model/cells/downside_2027q1_german_revenue:downside/kindNoneassumption
/operating_model/cells/downside_2027q1_german_revenue:downside/labelNoneConditional acquired German revenue
/operating_model/cells/downside_2027q1_german_revenue:downside/periodNone2027Q1
/operating_model/cells/downside_2027q1_german_revenue:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q1_german_revenue:downside/valueNone0.0
/operating_model/cells/downside_2027q1_gross_profit:downside/basisNoneCompany forecasts are not supplied for the new program.
/operating_model/cells/downside_2027q1_gross_profit:downside/caseNonedownside
/operating_model/cells/downside_2027q1_gross_profit:downside/formula/opNonesum
/operating_model/cells/downside_2027q1_gross_profit:downside/formula/refs/0Nonedownside_2027q1_legacy_gross
/operating_model/cells/downside_2027q1_gross_profit:downside/formula/refs/1Nonedownside_2027q1_price_gross
/operating_model/cells/downside_2027q1_gross_profit:downside/formula/refs/2Nonedownside_2027q1_german_gross
/operating_model/cells/downside_2027q1_gross_profit:downside/formula/refs/3Nonedownside_2027q1_stockpile_gross
/operating_model/cells/downside_2027q1_gross_profit:downside/idNonedownside_2027q1_gross_profit
/operating_model/cells/downside_2027q1_gross_profit:downside/kindNonederived
/operating_model/cells/downside_2027q1_gross_profit:downside/labelNoneGross profit proxy
/operating_model/cells/downside_2027q1_gross_profit:downside/periodNone2027Q1
/operating_model/cells/downside_2027q1_gross_profit:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q1_gross_profit:downside/valueNone15.1925488
/operating_model/cells/downside_2027q1_inventory_other_cash:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q1_inventory_other_cash:downside/caseNonedownside
/operating_model/cells/downside_2027q1_inventory_other_cash:downside/idNonedownside_2027q1_inventory_other_cash
/operating_model/cells/downside_2027q1_inventory_other_cash:downside/kindNoneassumption
/operating_model/cells/downside_2027q1_inventory_other_cash:downside/labelNoneInventory and other working-capital use
/operating_model/cells/downside_2027q1_inventory_other_cash:downside/periodNone2027Q1
/operating_model/cells/downside_2027q1_inventory_other_cash:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q1_inventory_other_cash:downside/valueNone25.2
/operating_model/cells/downside_2027q1_inventory_price_fraction:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q1_inventory_price_fraction:downside/caseNonedownside
/operating_model/cells/downside_2027q1_inventory_price_fraction:downside/idNonedownside_2027q1_inventory_price_fraction
/operating_model/cells/downside_2027q1_inventory_price_fraction:downside/kindNoneassumption
/operating_model/cells/downside_2027q1_inventory_price_fraction:downside/labelNonePrice-related inventory funding share
/operating_model/cells/downside_2027q1_inventory_price_fraction:downside/periodNone2027Q1
/operating_model/cells/downside_2027q1_inventory_price_fraction:downside/unitNoneratio
/operating_model/cells/downside_2027q1_inventory_price_fraction:downside/valueNone0.5
/operating_model/cells/downside_2027q1_legacy_demand:downside/basisNoneDemand separated from incremental metal-price pass-through.
/operating_model/cells/downside_2027q1_legacy_demand:downside/caseNonedownside
/operating_model/cells/downside_2027q1_legacy_demand:downside/formula/opNonemultiply
/operating_model/cells/downside_2027q1_legacy_demand:downside/formula/refs/0Noneq2_revenue
/operating_model/cells/downside_2027q1_legacy_demand:downside/formula/refs/1Nonedownside_2027q1_demand_index
/operating_model/cells/downside_2027q1_legacy_demand:downside/idNonedownside_2027q1_legacy_demand
/operating_model/cells/downside_2027q1_legacy_demand:downside/kindNonederived
/operating_model/cells/downside_2027q1_legacy_demand:downside/labelNoneLegacy revenue at reference metal prices
/operating_model/cells/downside_2027q1_legacy_demand:downside/periodNone2027Q1
/operating_model/cells/downside_2027q1_legacy_demand:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q1_legacy_demand:downside/valueNone69.05704
/operating_model/cells/downside_2027q1_legacy_gross:downside/basisNoneIndependent operating-margin scenario.
/operating_model/cells/downside_2027q1_legacy_gross:downside/caseNonedownside
/operating_model/cells/downside_2027q1_legacy_gross:downside/formula/opNonemultiply
/operating_model/cells/downside_2027q1_legacy_gross:downside/formula/refs/0Nonedownside_2027q1_legacy_demand
/operating_model/cells/downside_2027q1_legacy_gross:downside/formula/refs/1Nonedownside_2027q1_core_margin
/operating_model/cells/downside_2027q1_legacy_gross:downside/idNonedownside_2027q1_legacy_gross
/operating_model/cells/downside_2027q1_legacy_gross:downside/kindNonederived
/operating_model/cells/downside_2027q1_legacy_gross:downside/labelNoneLegacy gross profit
/operating_model/cells/downside_2027q1_legacy_gross:downside/periodNone2027Q1
/operating_model/cells/downside_2027q1_legacy_gross:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q1_legacy_gross:downside/valueNone15.1925488
/operating_model/cells/downside_2027q1_metal_cost:downside/basisNoneAt 100% pass-through, higher commodity prices do not create gross profit.
/operating_model/cells/downside_2027q1_metal_cost:downside/caseNonedownside
/operating_model/cells/downside_2027q1_metal_cost:downside/formula/opNonemultiply
/operating_model/cells/downside_2027q1_metal_cost:downside/formula/refs/0Nonedownside_2027q1_metal_pass
/operating_model/cells/downside_2027q1_metal_cost:downside/formula/refs/1Nonedownside_2027q1_pass_cost_ratio
/operating_model/cells/downside_2027q1_metal_cost:downside/idNonedownside_2027q1_metal_cost
/operating_model/cells/downside_2027q1_metal_cost:downside/kindNonederived
/operating_model/cells/downside_2027q1_metal_cost:downside/labelNoneMatched input price cost
/operating_model/cells/downside_2027q1_metal_cost:downside/periodNone2027Q1
/operating_model/cells/downside_2027q1_metal_cost:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q1_metal_cost:downside/valueNone15.0
/operating_model/cells/downside_2027q1_metal_pass:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q1_metal_pass:downside/caseNonedownside
/operating_model/cells/downside_2027q1_metal_pass:downside/idNonedownside_2027q1_metal_pass
/operating_model/cells/downside_2027q1_metal_pass:downside/kindNoneassumption
/operating_model/cells/downside_2027q1_metal_pass:downside/labelNoneIncremental raw-material price pass-through
/operating_model/cells/downside_2027q1_metal_pass:downside/periodNone2027Q1
/operating_model/cells/downside_2027q1_metal_pass:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q1_metal_pass:downside/valueNone15.0
/operating_model/cells/downside_2027q1_new_pik_basis:downside/basisNoneInitial 19-day approximate accrual; later tranches assumed late-quarter.
/operating_model/cells/downside_2027q1_new_pik_basis:downside/caseNonedownside
/operating_model/cells/downside_2027q1_new_pik_basis:downside/formula/opNonemultiply
/operating_model/cells/downside_2027q1_new_pik_basis:downside/formula/refs/0Nonedownside_2027q1_preferred_funding
/operating_model/cells/downside_2027q1_new_pik_basis:downside/formula/refs/1Nonedownside_2027q1_funding_weight
/operating_model/cells/downside_2027q1_new_pik_basis:downside/idNonedownside_2027q1_new_pik_basis
/operating_model/cells/downside_2027q1_new_pik_basis:downside/kindNonederived
/operating_model/cells/downside_2027q1_new_pik_basis:downside/labelNoneNew funding weighted for partial quarter
/operating_model/cells/downside_2027q1_new_pik_basis:downside/periodNone2027Q1
/operating_model/cells/downside_2027q1_new_pik_basis:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q1_new_pik_basis:downside/valueNone0.0
/operating_model/cells/downside_2027q1_operating_cash_earnings:downside/basisNoneNo debt forgiveness or financing gain.
/operating_model/cells/downside_2027q1_operating_cash_earnings:downside/caseNonedownside
/operating_model/cells/downside_2027q1_operating_cash_earnings:downside/formula/opNonesum
/operating_model/cells/downside_2027q1_operating_cash_earnings:downside/formula/refs/0Nonedownside_2027q1_operating_income
/operating_model/cells/downside_2027q1_operating_cash_earnings:downside/formula/refs/1Nonedownside_2027q1_sbc
/operating_model/cells/downside_2027q1_operating_cash_earnings:downside/formula/refs/2Nonedownside_2027q1_da
/operating_model/cells/downside_2027q1_operating_cash_earnings:downside/formula/refs/3Nonedownside_2027q1_cash_interest_income
/operating_model/cells/downside_2027q1_operating_cash_earnings:downside/idNonedownside_2027q1_operating_cash_earnings
/operating_model/cells/downside_2027q1_operating_cash_earnings:downside/kindNonederived
/operating_model/cells/downside_2027q1_operating_cash_earnings:downside/labelNoneOperating earnings plus noncash and interest
/operating_model/cells/downside_2027q1_operating_cash_earnings:downside/periodNone2027Q1
/operating_model/cells/downside_2027q1_operating_cash_earnings:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q1_operating_cash_earnings:downside/valueNone0.15254880000000348
/operating_model/cells/downside_2027q1_operating_income:downside/basisNonePreferred PIK is below operating economics, not operating expense.
/operating_model/cells/downside_2027q1_operating_income:downside/caseNonedownside
/operating_model/cells/downside_2027q1_operating_income:downside/formula/opNonesubtract
/operating_model/cells/downside_2027q1_operating_income:downside/formula/refs/0Nonedownside_2027q1_gross_profit
/operating_model/cells/downside_2027q1_operating_income:downside/formula/refs/1Nonedownside_2027q1_opex
/operating_model/cells/downside_2027q1_operating_income:downside/idNonedownside_2027q1_operating_income
/operating_model/cells/downside_2027q1_operating_income:downside/kindNonederived
/operating_model/cells/downside_2027q1_operating_income:downside/labelNoneOperating income proxy
/operating_model/cells/downside_2027q1_operating_income:downside/periodNone2027Q1
/operating_model/cells/downside_2027q1_operating_income:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q1_operating_income:downside/valueNone-7.247451199999997
/operating_model/cells/downside_2027q1_opex:downside/basisNoneNo repeat of H1 IPO SBC as if recurring every quarter.
/operating_model/cells/downside_2027q1_opex:downside/caseNonedownside
/operating_model/cells/downside_2027q1_opex:downside/formula/opNonesum
/operating_model/cells/downside_2027q1_opex:downside/formula/refs/0Nonedownside_2027q1_cash_opex
/operating_model/cells/downside_2027q1_opex:downside/formula/refs/1Nonedownside_2027q1_sbc
/operating_model/cells/downside_2027q1_opex:downside/formula/refs/2Nonedownside_2027q1_da
/operating_model/cells/downside_2027q1_opex:downside/formula/refs/3Nonedownside_2027q1_cash_bonus
/operating_model/cells/downside_2027q1_opex:downside/idNonedownside_2027q1_opex
/operating_model/cells/downside_2027q1_opex:downside/kindNonederived
/operating_model/cells/downside_2027q1_opex:downside/labelNoneCash overhead SBC and D&A
/operating_model/cells/downside_2027q1_opex:downside/periodNone2027Q1
/operating_model/cells/downside_2027q1_opex:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q1_opex:downside/valueNone22.439999999999998
/operating_model/cells/downside_2027q1_pass_cost_ratio:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q1_pass_cost_ratio:downside/caseNonedownside
/operating_model/cells/downside_2027q1_pass_cost_ratio:downside/idNonedownside_2027q1_pass_cost_ratio
/operating_model/cells/downside_2027q1_pass_cost_ratio:downside/kindNoneassumption
/operating_model/cells/downside_2027q1_pass_cost_ratio:downside/labelNoneInput-cost share of pass-through
/operating_model/cells/downside_2027q1_pass_cost_ratio:downside/periodNone2027Q1
/operating_model/cells/downside_2027q1_pass_cost_ratio:downside/unitNoneratio
/operating_model/cells/downside_2027q1_pass_cost_ratio:downside/valueNone1.0
/operating_model/cells/downside_2027q1_pass_inventory_cash:downside/basisNoneCommodity inflation can tie up cash despite matched gross profit.
/operating_model/cells/downside_2027q1_pass_inventory_cash:downside/caseNonedownside
/operating_model/cells/downside_2027q1_pass_inventory_cash:downside/formula/opNonemultiply
/operating_model/cells/downside_2027q1_pass_inventory_cash:downside/formula/refs/0Nonedownside_2027q1_metal_pass
/operating_model/cells/downside_2027q1_pass_inventory_cash:downside/formula/refs/1Nonedownside_2027q1_inventory_price_fraction
/operating_model/cells/downside_2027q1_pass_inventory_cash:downside/idNonedownside_2027q1_pass_inventory_cash
/operating_model/cells/downside_2027q1_pass_inventory_cash:downside/kindNonederived
/operating_model/cells/downside_2027q1_pass_inventory_cash:downside/labelNoneAdditional price-related inventory funding
/operating_model/cells/downside_2027q1_pass_inventory_cash:downside/periodNone2027Q1
/operating_model/cells/downside_2027q1_pass_inventory_cash:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q1_pass_inventory_cash:downside/valueNone7.5
/operating_model/cells/downside_2027q1_pik_basis:downside/basisNoneExisting balance includes prior PIK compounding.
/operating_model/cells/downside_2027q1_pik_basis:downside/caseNonedownside
/operating_model/cells/downside_2027q1_pik_basis:downside/formula/opNonesum
/operating_model/cells/downside_2027q1_pik_basis:downside/formula/refs/0Nonedownside_2026q4_preferred_ending
/operating_model/cells/downside_2027q1_pik_basis:downside/formula/refs/1Nonedownside_2027q1_new_pik_basis
/operating_model/cells/downside_2027q1_pik_basis:downside/idNonedownside_2027q1_pik_basis
/operating_model/cells/downside_2027q1_pik_basis:downside/kindNonederived
/operating_model/cells/downside_2027q1_pik_basis:downside/labelNoneWeighted preferred claim for PIK
/operating_model/cells/downside_2027q1_pik_basis:downside/periodNone2027Q1
/operating_model/cells/downside_2027q1_pik_basis:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q1_pik_basis:downside/valueNone203.33207074175823
/operating_model/cells/downside_2027q1_preferred_ending:downside/basisNoneStock balance, not an annual flow; ignores warrant-linked liquidation preference reductions.
/operating_model/cells/downside_2027q1_preferred_ending:downside/caseNonedownside
/operating_model/cells/downside_2027q1_preferred_ending:downside/formula/opNonesum
/operating_model/cells/downside_2027q1_preferred_ending:downside/formula/refs/0Nonedownside_2026q4_preferred_ending
/operating_model/cells/downside_2027q1_preferred_ending:downside/formula/refs/1Nonedownside_2027q1_preferred_funding
/operating_model/cells/downside_2027q1_preferred_ending:downside/formula/refs/2Nonedownside_2027q1_preferred_pik
/operating_model/cells/downside_2027q1_preferred_ending:downside/idNonedownside_2027q1_preferred_ending
/operating_model/cells/downside_2027q1_preferred_ending:downside/kindNonederived
/operating_model/cells/downside_2027q1_preferred_ending:downside/labelNoneEnding preferred claim before warrant adjustments
/operating_model/cells/downside_2027q1_preferred_ending:downside/periodNone2027Q1
/operating_model/cells/downside_2027q1_preferred_ending:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q1_preferred_ending:downside/valueNone206.12788671445742
/operating_model/cells/downside_2027q1_preferred_funding:downside/basisNoneInitial $200M received September 14; any later $50M receipt is conditional and respects six-month tranche availability.
/operating_model/cells/downside_2027q1_preferred_funding:downside/caseNonedownside
/operating_model/cells/downside_2027q1_preferred_funding:downside/idNonedownside_2027q1_preferred_funding
/operating_model/cells/downside_2027q1_preferred_funding:downside/kindNoneassumption
/operating_model/cells/downside_2027q1_preferred_funding:downside/labelNonePreferred financing receipts
/operating_model/cells/downside_2027q1_preferred_funding:downside/periodNone2027Q1
/operating_model/cells/downside_2027q1_preferred_funding:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q1_preferred_funding:downside/valueNone0.0
/operating_model/cells/downside_2027q1_preferred_pik:downside/basisNoneNoncash senior claim; no deduction from current-period cash.
/operating_model/cells/downside_2027q1_preferred_pik:downside/caseNonedownside
/operating_model/cells/downside_2027q1_preferred_pik:downside/formula/opNonemultiply
/operating_model/cells/downside_2027q1_preferred_pik:downside/formula/refs/0Nonedownside_2027q1_pik_basis
/operating_model/cells/downside_2027q1_preferred_pik:downside/formula/refs/1Nonepreferred_rate
/operating_model/cells/downside_2027q1_preferred_pik:downside/formula/refs/2Nonedownside_2027q1_quarter_year
/operating_model/cells/downside_2027q1_preferred_pik:downside/idNonedownside_2027q1_preferred_pik
/operating_model/cells/downside_2027q1_preferred_pik:downside/kindNonederived
/operating_model/cells/downside_2027q1_preferred_pik:downside/labelNonePreferred economic PIK accrual
/operating_model/cells/downside_2027q1_preferred_pik:downside/periodNone2027Q1
/operating_model/cells/downside_2027q1_preferred_pik:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q1_preferred_pik:downside/valueNone2.7958159726991756
/operating_model/cells/downside_2027q1_price_gross:downside/basisNoneMismatch sensitivity is explicit.
/operating_model/cells/downside_2027q1_price_gross:downside/caseNonedownside
/operating_model/cells/downside_2027q1_price_gross:downside/formula/opNonesubtract
/operating_model/cells/downside_2027q1_price_gross:downside/formula/refs/0Nonedownside_2027q1_metal_pass
/operating_model/cells/downside_2027q1_price_gross:downside/formula/refs/1Nonedownside_2027q1_metal_cost
/operating_model/cells/downside_2027q1_price_gross:downside/idNonedownside_2027q1_price_gross
/operating_model/cells/downside_2027q1_price_gross:downside/kindNonederived
/operating_model/cells/downside_2027q1_price_gross:downside/labelNoneIncremental price pass-through gross profit
/operating_model/cells/downside_2027q1_price_gross:downside/periodNone2027Q1
/operating_model/cells/downside_2027q1_price_gross:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q1_price_gross:downside/valueNone0.0
/operating_model/cells/downside_2027q1_quarter_year:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q1_quarter_year:downside/caseNonedownside
/operating_model/cells/downside_2027q1_quarter_year:downside/idNonedownside_2027q1_quarter_year
/operating_model/cells/downside_2027q1_quarter_year:downside/kindNoneassumption
/operating_model/cells/downside_2027q1_quarter_year:downside/labelNoneQuarter-year fraction
/operating_model/cells/downside_2027q1_quarter_year:downside/periodNone2027Q1
/operating_model/cells/downside_2027q1_quarter_year:downside/unitNoneratio
/operating_model/cells/downside_2027q1_quarter_year:downside/valueNone0.25
/operating_model/cells/downside_2027q1_raw_prepay:downside/basisNoneDesk first and milestone-conditioned second $25M funding; later negative amounts are consumption/settlement credits, not new revenue.
/operating_model/cells/downside_2027q1_raw_prepay:downside/caseNonedownside
/operating_model/cells/downside_2027q1_raw_prepay:downside/idNonedownside_2027q1_raw_prepay
/operating_model/cells/downside_2027q1_raw_prepay:downside/kindNoneassumption
/operating_model/cells/downside_2027q1_raw_prepay:downside/labelNoneNet new raw-material prepayments
/operating_model/cells/downside_2027q1_raw_prepay:downside/periodNone2027Q1
/operating_model/cells/downside_2027q1_raw_prepay:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q1_raw_prepay:downside/valueNone0.0
/operating_model/cells/downside_2027q1_revenue:downside/basisNoneNo recognition of preferred funding as revenue.
/operating_model/cells/downside_2027q1_revenue:downside/caseNonedownside
/operating_model/cells/downside_2027q1_revenue:downside/formula/opNonesum
/operating_model/cells/downside_2027q1_revenue:downside/formula/refs/0Nonedownside_2027q1_core_revenue
/operating_model/cells/downside_2027q1_revenue:downside/formula/refs/1Nonedownside_2027q1_stockpile_revenue
/operating_model/cells/downside_2027q1_revenue:downside/idNonedownside_2027q1_revenue
/operating_model/cells/downside_2027q1_revenue:downside/kindNonederived
/operating_model/cells/downside_2027q1_revenue:downside/labelNoneTotal revenue
/operating_model/cells/downside_2027q1_revenue:downside/periodNone2027Q1
/operating_model/cells/downside_2027q1_revenue:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q1_revenue:downside/valueNone84.05704
/operating_model/cells/downside_2027q1_sbc:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q1_sbc:downside/caseNonedownside
/operating_model/cells/downside_2027q1_sbc:downside/idNonedownside_2027q1_sbc
/operating_model/cells/downside_2027q1_sbc:downside/kindNoneassumption
/operating_model/cells/downside_2027q1_sbc:downside/labelNoneSBC
/operating_model/cells/downside_2027q1_sbc:downside/periodNone2027Q1
/operating_model/cells/downside_2027q1_sbc:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q1_sbc:downside/valueNone2.4
/operating_model/cells/downside_2027q1_stock_margin:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q1_stock_margin:downside/caseNonedownside
/operating_model/cells/downside_2027q1_stock_margin:downside/idNonedownside_2027q1_stock_margin
/operating_model/cells/downside_2027q1_stock_margin:downside/kindNoneassumption
/operating_model/cells/downside_2027q1_stock_margin:downside/labelNoneStockpile gross margin
/operating_model/cells/downside_2027q1_stock_margin:downside/periodNone2027Q1
/operating_model/cells/downside_2027q1_stock_margin:downside/unitNoneratio
/operating_model/cells/downside_2027q1_stock_margin:downside/valueNone0.12
/operating_model/cells/downside_2027q1_stockpile_gross:downside/basisNoneProcured input cost is reflected in margin; no unsupported floor-price assumption.
/operating_model/cells/downside_2027q1_stockpile_gross:downside/caseNonedownside
/operating_model/cells/downside_2027q1_stockpile_gross:downside/formula/opNonemultiply
/operating_model/cells/downside_2027q1_stockpile_gross:downside/formula/refs/0Nonedownside_2027q1_stockpile_revenue
/operating_model/cells/downside_2027q1_stockpile_gross:downside/formula/refs/1Nonedownside_2027q1_stock_margin
/operating_model/cells/downside_2027q1_stockpile_gross:downside/idNonedownside_2027q1_stockpile_gross
/operating_model/cells/downside_2027q1_stockpile_gross:downside/kindNonederived
/operating_model/cells/downside_2027q1_stockpile_gross:downside/labelNoneStockpile gross contribution
/operating_model/cells/downside_2027q1_stockpile_gross:downside/periodNone2027Q1
/operating_model/cells/downside_2027q1_stockpile_gross:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q1_stockpile_gross:downside/valueNone0.0
/operating_model/cells/downside_2027q1_stockpile_revenue:downside/basisNoneSupply-qualified delivery assumption, not pro-rata recognition of the contract ceiling or minimum.
/operating_model/cells/downside_2027q1_stockpile_revenue:downside/caseNonedownside
/operating_model/cells/downside_2027q1_stockpile_revenue:downside/idNonedownside_2027q1_stockpile_revenue
/operating_model/cells/downside_2027q1_stockpile_revenue:downside/kindNoneassumption
/operating_model/cells/downside_2027q1_stockpile_revenue:downside/labelNoneAccepted incremental stockpile deliveries
/operating_model/cells/downside_2027q1_stockpile_revenue:downside/periodNone2027Q1
/operating_model/cells/downside_2027q1_stockpile_revenue:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q1_stockpile_revenue:downside/valueNone0.0
/operating_model/cells/downside_2027q1_strategic_cash:downside/basisNonePrepaid input consumption cash credits avoid charging both historical prepayment and subsequent COGS cash without adjustment.
/operating_model/cells/downside_2027q1_strategic_cash:downside/caseNonedownside
/operating_model/cells/downside_2027q1_strategic_cash:downside/formula/opNonesum
/operating_model/cells/downside_2027q1_strategic_cash:downside/formula/refs/0Nonedownside_2027q1_blue_moon
/operating_model/cells/downside_2027q1_strategic_cash:downside/formula/refs/1Nonedownside_2027q1_raw_prepay
/operating_model/cells/downside_2027q1_strategic_cash:downside/formula/refs/2Nonedownside_2027q1_german_price
/operating_model/cells/downside_2027q1_strategic_cash:downside/idNonedownside_2027q1_strategic_cash
/operating_model/cells/downside_2027q1_strategic_cash:downside/kindNonederived
/operating_model/cells/downside_2027q1_strategic_cash:downside/labelNoneMinority prepayment and acquisition cash
/operating_model/cells/downside_2027q1_strategic_cash:downside/periodNone2027Q1
/operating_model/cells/downside_2027q1_strategic_cash:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q1_strategic_cash:downside/valueNone0.0
/operating_model/cells/downside_2027q2_blue_moon:downside/basisNoneNo consolidated Blue Moon sales or market-value gains.
/operating_model/cells/downside_2027q2_blue_moon:downside/caseNonedownside
/operating_model/cells/downside_2027q2_blue_moon:downside/formula/opNonemultiply
/operating_model/cells/downside_2027q2_blue_moon:downside/formula/refs/0Nonedownside_2027q2_cad_commitment
/operating_model/cells/downside_2027q2_blue_moon:downside/formula/refs/1Nonedownside_2027q2_cad_usd
/operating_model/cells/downside_2027q2_blue_moon:downside/idNonedownside_2027q2_blue_moon
/operating_model/cells/downside_2027q2_blue_moon:downside/kindNonederived
/operating_model/cells/downside_2027q2_blue_moon:downside/labelNoneBlue Moon minority investment cash
/operating_model/cells/downside_2027q2_blue_moon:downside/periodNone2027Q2
/operating_model/cells/downside_2027q2_blue_moon:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q2_blue_moon:downside/valueNone0.0
/operating_model/cells/downside_2027q2_business_investment:downside/basisNoneNo initial government receipt netted into capex.
/operating_model/cells/downside_2027q2_business_investment:downside/caseNonedownside
/operating_model/cells/downside_2027q2_business_investment:downside/formula/opNonesum
/operating_model/cells/downside_2027q2_business_investment:downside/formula/refs/0Nonedownside_2027q2_capex
/operating_model/cells/downside_2027q2_business_investment:downside/formula/refs/1Nonedownside_2027q2_strategic_cash
/operating_model/cells/downside_2027q2_business_investment:downside/idNonedownside_2027q2_business_investment
/operating_model/cells/downside_2027q2_business_investment:downside/kindNonederived
/operating_model/cells/downside_2027q2_business_investment:downside/labelNonePP&E and strategic deployment
/operating_model/cells/downside_2027q2_business_investment:downside/periodNone2027Q2
/operating_model/cells/downside_2027q2_business_investment:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q2_business_investment:downside/valueNone114.24375
/operating_model/cells/downside_2027q2_cad_commitment:downside/basisNoneBinding 3.5M-unit commitment at CAD10, within 45 days of September 14; expected in Q4 fiscal 2026.
/operating_model/cells/downside_2027q2_cad_commitment:downside/caseNonedownside
/operating_model/cells/downside_2027q2_cad_commitment:downside/idNonedownside_2027q2_cad_commitment
/operating_model/cells/downside_2027q2_cad_commitment:downside/kindNoneassumption
/operating_model/cells/downside_2027q2_cad_commitment:downside/labelNoneCAD35M investment at 1:1 before FX
/operating_model/cells/downside_2027q2_cad_commitment:downside/periodNone2027Q2
/operating_model/cells/downside_2027q2_cad_commitment:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q2_cad_commitment:downside/valueNone0.0
/operating_model/cells/downside_2027q2_cad_usd:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q2_cad_usd:downside/caseNonedownside
/operating_model/cells/downside_2027q2_cad_usd:downside/idNonedownside_2027q2_cad_usd
/operating_model/cells/downside_2027q2_cad_usd:downside/kindNoneassumption
/operating_model/cells/downside_2027q2_cad_usd:downside/labelNoneUSD per CAD assumption
/operating_model/cells/downside_2027q2_cad_usd:downside/periodNone2027Q2
/operating_model/cells/downside_2027q2_cad_usd:downside/unitNoneratio
/operating_model/cells/downside_2027q2_cad_usd:downside/valueNone0.73
/operating_model/cells/downside_2027q2_capex:downside/basisNoneConsolidated external investment includes domestic expansion and controlled JV plant; internal capital contributions are not counted again.
/operating_model/cells/downside_2027q2_capex:downside/caseNonedownside
/operating_model/cells/downside_2027q2_capex:downside/idNonedownside_2027q2_capex
/operating_model/cells/downside_2027q2_capex:downside/kindNoneassumption
/operating_model/cells/downside_2027q2_capex:downside/labelNoneExternal PP&E domestic and controlled-JV cash
/operating_model/cells/downside_2027q2_capex:downside/periodNone2027Q2
/operating_model/cells/downside_2027q2_capex:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q2_capex:downside/valueNone50.0
/operating_model/cells/downside_2027q2_cash_after_funding:downside/basisNonePeriod flow only; no claim that preferred cash is freely distributable.
/operating_model/cells/downside_2027q2_cash_after_funding:downside/caseNonedownside
/operating_model/cells/downside_2027q2_cash_after_funding:downside/formula/opNonesum
/operating_model/cells/downside_2027q2_cash_after_funding:downside/formula/refs/0Nonedownside_2027q2_cash_after_investing
/operating_model/cells/downside_2027q2_cash_after_funding:downside/formula/refs/1Nonedownside_2027q2_preferred_funding
/operating_model/cells/downside_2027q2_cash_after_funding:downside/idNonedownside_2027q2_cash_after_funding
/operating_model/cells/downside_2027q2_cash_after_funding:downside/kindNonederived
/operating_model/cells/downside_2027q2_cash_after_funding:downside/labelNoneCash after preferred financing
/operating_model/cells/downside_2027q2_cash_after_funding:downside/periodNone2027Q2
/operating_model/cells/downside_2027q2_cash_after_funding:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q2_cash_after_funding:downside/valueNone-155.93295460000002
/operating_model/cells/downside_2027q2_cash_after_investing:downside/basisNoneBefore preferred funding and other capital allocation.
/operating_model/cells/downside_2027q2_cash_after_investing:downside/caseNonedownside
/operating_model/cells/downside_2027q2_cash_after_investing:downside/formula/opNonesubtract
/operating_model/cells/downside_2027q2_cash_after_investing:downside/formula/refs/0Nonedownside_2027q2_cfo
/operating_model/cells/downside_2027q2_cash_after_investing:downside/formula/refs/1Nonedownside_2027q2_business_investment
/operating_model/cells/downside_2027q2_cash_after_investing:downside/idNonedownside_2027q2_cash_after_investing
/operating_model/cells/downside_2027q2_cash_after_investing:downside/kindNonederived
/operating_model/cells/downside_2027q2_cash_after_investing:downside/labelNoneCash after business investing
/operating_model/cells/downside_2027q2_cash_after_investing:downside/periodNone2027Q2
/operating_model/cells/downside_2027q2_cash_after_investing:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q2_cash_after_investing:downside/valueNone-155.93295460000002
/operating_model/cells/downside_2027q2_cash_bonus:downside/basisNoneMaximum September award shown as a Q2 2027 cash/expense sensitivity, conditional on employment and measurement criteria; not SBC.
/operating_model/cells/downside_2027q2_cash_bonus:downside/caseNonedownside
/operating_model/cells/downside_2027q2_cash_bonus:downside/idNonedownside_2027q2_cash_bonus
/operating_model/cells/downside_2027q2_cash_bonus:downside/kindNoneassumption
/operating_model/cells/downside_2027q2_cash_bonus:downside/labelNonePerformance cash-bonus allowance
/operating_model/cells/downside_2027q2_cash_bonus:downside/periodNone2027Q2
/operating_model/cells/downside_2027q2_cash_bonus:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q2_cash_bonus:downside/valueNone3.0
/operating_model/cells/downside_2027q2_cash_interest:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q2_cash_interest:downside/caseNonedownside
/operating_model/cells/downside_2027q2_cash_interest:downside/idNonedownside_2027q2_cash_interest
/operating_model/cells/downside_2027q2_cash_interest:downside/kindNoneassumption
/operating_model/cells/downside_2027q2_cash_interest:downside/labelNoneCash debt interest
/operating_model/cells/downside_2027q2_cash_interest:downside/periodNone2027Q2
/operating_model/cells/downside_2027q2_cash_interest:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q2_cash_interest:downside/valueNone0.2
/operating_model/cells/downside_2027q2_cash_interest_income:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q2_cash_interest_income:downside/caseNonedownside
/operating_model/cells/downside_2027q2_cash_interest_income:downside/idNonedownside_2027q2_cash_interest_income
/operating_model/cells/downside_2027q2_cash_interest_income:downside/kindNoneassumption
/operating_model/cells/downside_2027q2_cash_interest_income:downside/labelNoneCash interest income
/operating_model/cells/downside_2027q2_cash_interest_income:downside/periodNone2027Q2
/operating_model/cells/downside_2027q2_cash_interest_income:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q2_cash_interest_income:downside/valueNone2.0
/operating_model/cells/downside_2027q2_cash_opex:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q2_cash_opex:downside/caseNonedownside
/operating_model/cells/downside_2027q2_cash_opex:downside/idNonedownside_2027q2_cash_opex
/operating_model/cells/downside_2027q2_cash_opex:downside/kindNoneassumption
/operating_model/cells/downside_2027q2_cash_opex:downside/labelNoneCash corporate R&D and selling expense
/operating_model/cells/downside_2027q2_cash_opex:downside/periodNone2027Q2
/operating_model/cells/downside_2027q2_cash_opex:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q2_cash_opex:downside/valueNone18.36
/operating_model/cells/downside_2027q2_cash_tax:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q2_cash_tax:downside/caseNonedownside
/operating_model/cells/downside_2027q2_cash_tax:downside/idNonedownside_2027q2_cash_tax
/operating_model/cells/downside_2027q2_cash_tax:downside/kindNoneassumption
/operating_model/cells/downside_2027q2_cash_tax:downside/labelNoneCash tax
/operating_model/cells/downside_2027q2_cash_tax:downside/periodNone2027Q2
/operating_model/cells/downside_2027q2_cash_tax:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q2_cash_tax:downside/valueNone3.5
/operating_model/cells/downside_2027q2_cash_uses:downside/basisNoneProject input prepayments are shown separately in strategic cash.
/operating_model/cells/downside_2027q2_cash_uses:downside/caseNonedownside
/operating_model/cells/downside_2027q2_cash_uses:downside/formula/opNonesum
/operating_model/cells/downside_2027q2_cash_uses:downside/formula/refs/0Nonedownside_2027q2_cash_tax
/operating_model/cells/downside_2027q2_cash_uses:downside/formula/refs/1Nonedownside_2027q2_cash_interest
/operating_model/cells/downside_2027q2_cash_uses:downside/formula/refs/2Nonedownside_2027q2_inventory_other_cash
/operating_model/cells/downside_2027q2_cash_uses:downside/formula/refs/3Nonedownside_2027q2_pass_inventory_cash
/operating_model/cells/downside_2027q2_cash_uses:downside/idNonedownside_2027q2_cash_uses
/operating_model/cells/downside_2027q2_cash_uses:downside/kindNonederived
/operating_model/cells/downside_2027q2_cash_uses:downside/labelNoneTax interest and working capital
/operating_model/cells/downside_2027q2_cash_uses:downside/periodNone2027Q2
/operating_model/cells/downside_2027q2_cash_uses:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q2_cash_uses:downside/valueNone38.5
/operating_model/cells/downside_2027q2_cfo:downside/basisNoneNo current-period preferred cash dividend.
/operating_model/cells/downside_2027q2_cfo:downside/caseNonedownside
/operating_model/cells/downside_2027q2_cfo:downside/formula/opNonesubtract
/operating_model/cells/downside_2027q2_cfo:downside/formula/refs/0Nonedownside_2027q2_operating_cash_earnings
/operating_model/cells/downside_2027q2_cfo:downside/formula/refs/1Nonedownside_2027q2_cash_uses
/operating_model/cells/downside_2027q2_cfo:downside/idNonedownside_2027q2_cfo
/operating_model/cells/downside_2027q2_cfo:downside/kindNonederived
/operating_model/cells/downside_2027q2_cfo:downside/labelNoneOperating cash flow proxy
/operating_model/cells/downside_2027q2_cfo:downside/periodNone2027Q2
/operating_model/cells/downside_2027q2_cfo:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q2_cfo:downside/valueNone-41.689204600000004
/operating_model/cells/downside_2027q2_core_margin:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q2_core_margin:downside/caseNonedownside
/operating_model/cells/downside_2027q2_core_margin:downside/idNonedownside_2027q2_core_margin
/operating_model/cells/downside_2027q2_core_margin:downside/kindNoneassumption
/operating_model/cells/downside_2027q2_core_margin:downside/labelNoneCore gross margin
/operating_model/cells/downside_2027q2_core_margin:downside/periodNone2027Q2
/operating_model/cells/downside_2027q2_core_margin:downside/unitNoneratio
/operating_model/cells/downside_2027q2_core_margin:downside/valueNone0.22
/operating_model/cells/downside_2027q2_core_revenue:downside/basisNoneCurrent manufacturing and conditional acquired operations; stockpile is separate.
/operating_model/cells/downside_2027q2_core_revenue:downside/caseNonedownside
/operating_model/cells/downside_2027q2_core_revenue:downside/formula/opNonesum
/operating_model/cells/downside_2027q2_core_revenue:downside/formula/refs/0Nonedownside_2027q2_legacy_demand
/operating_model/cells/downside_2027q2_core_revenue:downside/formula/refs/1Nonedownside_2027q2_metal_pass
/operating_model/cells/downside_2027q2_core_revenue:downside/formula/refs/2Nonedownside_2027q2_german_revenue
/operating_model/cells/downside_2027q2_core_revenue:downside/idNonedownside_2027q2_core_revenue
/operating_model/cells/downside_2027q2_core_revenue:downside/kindNonederived
/operating_model/cells/downside_2027q2_core_revenue:downside/labelNoneCore and acquired revenue
/operating_model/cells/downside_2027q2_core_revenue:downside/periodNone2027Q2
/operating_model/cells/downside_2027q2_core_revenue:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q2_core_revenue:downside/valueNone86.04907
/operating_model/cells/downside_2027q2_da:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q2_da:downside/caseNonedownside
/operating_model/cells/downside_2027q2_da:downside/idNonedownside_2027q2_da
/operating_model/cells/downside_2027q2_da:downside/kindNoneassumption
/operating_model/cells/downside_2027q2_da:downside/labelNoneOperating D&A
/operating_model/cells/downside_2027q2_da:downside/periodNone2027Q2
/operating_model/cells/downside_2027q2_da:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q2_da:downside/valueNone3.5
/operating_model/cells/downside_2027q2_demand_index:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q2_demand_index:downside/caseNonedownside
/operating_model/cells/downside_2027q2_demand_index:downside/idNonedownside_2027q2_demand_index
/operating_model/cells/downside_2027q2_demand_index:downside/kindNoneassumption
/operating_model/cells/downside_2027q2_demand_index:downside/labelNoneNet volume and mix versus Q2
/operating_model/cells/downside_2027q2_demand_index:downside/periodNone2027Q2
/operating_model/cells/downside_2027q2_demand_index:downside/unitNoneratio
/operating_model/cells/downside_2027q2_demand_index:downside/valueNone1.07
/operating_model/cells/downside_2027q2_eur_usd:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q2_eur_usd:downside/caseNonedownside
/operating_model/cells/downside_2027q2_eur_usd:downside/idNonedownside_2027q2_eur_usd
/operating_model/cells/downside_2027q2_eur_usd:downside/kindNoneassumption
/operating_model/cells/downside_2027q2_eur_usd:downside/labelNoneUSD per EUR conversion
/operating_model/cells/downside_2027q2_eur_usd:downside/periodNone2027Q2
/operating_model/cells/downside_2027q2_eur_usd:downside/unitNoneratio
/operating_model/cells/downside_2027q2_eur_usd:downside/valueNone1.15
/operating_model/cells/downside_2027q2_funding_weight:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q2_funding_weight:downside/caseNonedownside
/operating_model/cells/downside_2027q2_funding_weight:downside/idNonedownside_2027q2_funding_weight
/operating_model/cells/downside_2027q2_funding_weight:downside/kindNoneassumption
/operating_model/cells/downside_2027q2_funding_weight:downside/labelNoneNew funding quarter weight
/operating_model/cells/downside_2027q2_funding_weight:downside/periodNone2027Q2
/operating_model/cells/downside_2027q2_funding_weight:downside/unitNoneratio
/operating_model/cells/downside_2027q2_funding_weight:downside/valueNone0.25
/operating_model/cells/downside_2027q2_german_eur_amount:downside/basisNoneDesk working capital and net pension assumptions in contractual price formula; signed amount can be negative.
/operating_model/cells/downside_2027q2_german_eur_amount:downside/caseNonedownside
/operating_model/cells/downside_2027q2_german_eur_amount:downside/idNonedownside_2027q2_german_eur_amount
/operating_model/cells/downside_2027q2_german_eur_amount:downside/kindNoneassumption
/operating_model/cells/downside_2027q2_german_eur_amount:downside/labelNoneGerman net price sensitivity, EUR millions represented at 1:1 before FX
/operating_model/cells/downside_2027q2_german_eur_amount:downside/periodNone2027Q2
/operating_model/cells/downside_2027q2_german_eur_amount:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q2_german_eur_amount:downside/valueNone34.125
/operating_model/cells/downside_2027q2_german_gross:downside/basisNoneUnverified post-close margin.
/operating_model/cells/downside_2027q2_german_gross:downside/caseNonedownside
/operating_model/cells/downside_2027q2_german_gross:downside/formula/opNonemultiply
/operating_model/cells/downside_2027q2_german_gross:downside/formula/refs/0Nonedownside_2027q2_german_revenue
/operating_model/cells/downside_2027q2_german_gross:downside/formula/refs/1Nonedownside_2027q2_german_margin
/operating_model/cells/downside_2027q2_german_gross:downside/idNonedownside_2027q2_german_gross
/operating_model/cells/downside_2027q2_german_gross:downside/kindNonederived
/operating_model/cells/downside_2027q2_german_gross:downside/labelNoneGerman gross contribution
/operating_model/cells/downside_2027q2_german_gross:downside/periodNone2027Q2
/operating_model/cells/downside_2027q2_german_gross:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q2_german_gross:downside/valueNone0.54
/operating_model/cells/downside_2027q2_german_margin:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q2_german_margin:downside/caseNonedownside
/operating_model/cells/downside_2027q2_german_margin:downside/idNonedownside_2027q2_german_margin
/operating_model/cells/downside_2027q2_german_margin:downside/kindNoneassumption
/operating_model/cells/downside_2027q2_german_margin:downside/labelNoneAcquired gross margin
/operating_model/cells/downside_2027q2_german_margin:downside/periodNone2027Q2
/operating_model/cells/downside_2027q2_german_margin:downside/unitNoneratio
/operating_model/cells/downside_2027q2_german_margin:downside/valueNone0.18
/operating_model/cells/downside_2027q2_german_price:downside/basisNoneScenario only; metal inventory and pension measurement can materially change final consideration.
/operating_model/cells/downside_2027q2_german_price:downside/caseNonedownside
/operating_model/cells/downside_2027q2_german_price:downside/formula/opNonemultiply
/operating_model/cells/downside_2027q2_german_price:downside/formula/refs/0Nonedownside_2027q2_german_eur_amount
/operating_model/cells/downside_2027q2_german_price:downside/formula/refs/1Nonedownside_2027q2_eur_usd
/operating_model/cells/downside_2027q2_german_price:downside/idNonedownside_2027q2_german_price
/operating_model/cells/downside_2027q2_german_price:downside/kindNonederived
/operating_model/cells/downside_2027q2_german_price:downside/labelNoneConditional German closing cash in USD
/operating_model/cells/downside_2027q2_german_price:downside/periodNone2027Q2
/operating_model/cells/downside_2027q2_german_price:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q2_german_price:downside/valueNone39.24375
/operating_model/cells/downside_2027q2_german_revenue:downside/basisNoneDesk acquired-period contribution only after assumed closing; transaction remains conditional.
/operating_model/cells/downside_2027q2_german_revenue:downside/caseNonedownside
/operating_model/cells/downside_2027q2_german_revenue:downside/idNonedownside_2027q2_german_revenue
/operating_model/cells/downside_2027q2_german_revenue:downside/kindNoneassumption
/operating_model/cells/downside_2027q2_german_revenue:downside/labelNoneConditional acquired German revenue
/operating_model/cells/downside_2027q2_german_revenue:downside/periodNone2027Q2
/operating_model/cells/downside_2027q2_german_revenue:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q2_german_revenue:downside/valueNone3.0
/operating_model/cells/downside_2027q2_gross_profit:downside/basisNoneCompany forecasts are not supplied for the new program.
/operating_model/cells/downside_2027q2_gross_profit:downside/caseNonedownside
/operating_model/cells/downside_2027q2_gross_profit:downside/formula/opNonesum
/operating_model/cells/downside_2027q2_gross_profit:downside/formula/refs/0Nonedownside_2027q2_legacy_gross
/operating_model/cells/downside_2027q2_gross_profit:downside/formula/refs/1Nonedownside_2027q2_price_gross
/operating_model/cells/downside_2027q2_gross_profit:downside/formula/refs/2Nonedownside_2027q2_german_gross
/operating_model/cells/downside_2027q2_gross_profit:downside/formula/refs/3Nonedownside_2027q2_stockpile_gross
/operating_model/cells/downside_2027q2_gross_profit:downside/idNonedownside_2027q2_gross_profit
/operating_model/cells/downside_2027q2_gross_profit:downside/kindNonederived
/operating_model/cells/downside_2027q2_gross_profit:downside/labelNoneGross profit proxy
/operating_model/cells/downside_2027q2_gross_profit:downside/periodNone2027Q2
/operating_model/cells/downside_2027q2_gross_profit:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q2_gross_profit:downside/valueNone16.1707954
/operating_model/cells/downside_2027q2_inventory_other_cash:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q2_inventory_other_cash:downside/caseNonedownside
/operating_model/cells/downside_2027q2_inventory_other_cash:downside/idNonedownside_2027q2_inventory_other_cash
/operating_model/cells/downside_2027q2_inventory_other_cash:downside/kindNoneassumption
/operating_model/cells/downside_2027q2_inventory_other_cash:downside/labelNoneInventory and other working-capital use
/operating_model/cells/downside_2027q2_inventory_other_cash:downside/periodNone2027Q2
/operating_model/cells/downside_2027q2_inventory_other_cash:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q2_inventory_other_cash:downside/valueNone28.799999999999997
/operating_model/cells/downside_2027q2_inventory_price_fraction:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q2_inventory_price_fraction:downside/caseNonedownside
/operating_model/cells/downside_2027q2_inventory_price_fraction:downside/idNonedownside_2027q2_inventory_price_fraction
/operating_model/cells/downside_2027q2_inventory_price_fraction:downside/kindNoneassumption
/operating_model/cells/downside_2027q2_inventory_price_fraction:downside/labelNonePrice-related inventory funding share
/operating_model/cells/downside_2027q2_inventory_price_fraction:downside/periodNone2027Q2
/operating_model/cells/downside_2027q2_inventory_price_fraction:downside/unitNoneratio
/operating_model/cells/downside_2027q2_inventory_price_fraction:downside/valueNone0.5
/operating_model/cells/downside_2027q2_legacy_demand:downside/basisNoneDemand separated from incremental metal-price pass-through.
/operating_model/cells/downside_2027q2_legacy_demand:downside/caseNonedownside
/operating_model/cells/downside_2027q2_legacy_demand:downside/formula/opNonemultiply
/operating_model/cells/downside_2027q2_legacy_demand:downside/formula/refs/0Noneq2_revenue
/operating_model/cells/downside_2027q2_legacy_demand:downside/formula/refs/1Nonedownside_2027q2_demand_index
/operating_model/cells/downside_2027q2_legacy_demand:downside/idNonedownside_2027q2_legacy_demand
/operating_model/cells/downside_2027q2_legacy_demand:downside/kindNonederived
/operating_model/cells/downside_2027q2_legacy_demand:downside/labelNoneLegacy revenue at reference metal prices
/operating_model/cells/downside_2027q2_legacy_demand:downside/periodNone2027Q2
/operating_model/cells/downside_2027q2_legacy_demand:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q2_legacy_demand:downside/valueNone71.04907
/operating_model/cells/downside_2027q2_legacy_gross:downside/basisNoneIndependent operating-margin scenario.
/operating_model/cells/downside_2027q2_legacy_gross:downside/caseNonedownside
/operating_model/cells/downside_2027q2_legacy_gross:downside/formula/opNonemultiply
/operating_model/cells/downside_2027q2_legacy_gross:downside/formula/refs/0Nonedownside_2027q2_legacy_demand
/operating_model/cells/downside_2027q2_legacy_gross:downside/formula/refs/1Nonedownside_2027q2_core_margin
/operating_model/cells/downside_2027q2_legacy_gross:downside/idNonedownside_2027q2_legacy_gross
/operating_model/cells/downside_2027q2_legacy_gross:downside/kindNonederived
/operating_model/cells/downside_2027q2_legacy_gross:downside/labelNoneLegacy gross profit
/operating_model/cells/downside_2027q2_legacy_gross:downside/periodNone2027Q2
/operating_model/cells/downside_2027q2_legacy_gross:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q2_legacy_gross:downside/valueNone15.6307954
/operating_model/cells/downside_2027q2_metal_cost:downside/basisNoneAt 100% pass-through, higher commodity prices do not create gross profit.
/operating_model/cells/downside_2027q2_metal_cost:downside/caseNonedownside
/operating_model/cells/downside_2027q2_metal_cost:downside/formula/opNonemultiply
/operating_model/cells/downside_2027q2_metal_cost:downside/formula/refs/0Nonedownside_2027q2_metal_pass
/operating_model/cells/downside_2027q2_metal_cost:downside/formula/refs/1Nonedownside_2027q2_pass_cost_ratio
/operating_model/cells/downside_2027q2_metal_cost:downside/idNonedownside_2027q2_metal_cost
/operating_model/cells/downside_2027q2_metal_cost:downside/kindNonederived
/operating_model/cells/downside_2027q2_metal_cost:downside/labelNoneMatched input price cost
/operating_model/cells/downside_2027q2_metal_cost:downside/periodNone2027Q2
/operating_model/cells/downside_2027q2_metal_cost:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q2_metal_cost:downside/valueNone12.0
/operating_model/cells/downside_2027q2_metal_pass:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q2_metal_pass:downside/caseNonedownside
/operating_model/cells/downside_2027q2_metal_pass:downside/idNonedownside_2027q2_metal_pass
/operating_model/cells/downside_2027q2_metal_pass:downside/kindNoneassumption
/operating_model/cells/downside_2027q2_metal_pass:downside/labelNoneIncremental raw-material price pass-through
/operating_model/cells/downside_2027q2_metal_pass:downside/periodNone2027Q2
/operating_model/cells/downside_2027q2_metal_pass:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q2_metal_pass:downside/valueNone12.0
/operating_model/cells/downside_2027q2_new_pik_basis:downside/basisNoneInitial 19-day approximate accrual; later tranches assumed late-quarter.
/operating_model/cells/downside_2027q2_new_pik_basis:downside/caseNonedownside
/operating_model/cells/downside_2027q2_new_pik_basis:downside/formula/opNonemultiply
/operating_model/cells/downside_2027q2_new_pik_basis:downside/formula/refs/0Nonedownside_2027q2_preferred_funding
/operating_model/cells/downside_2027q2_new_pik_basis:downside/formula/refs/1Nonedownside_2027q2_funding_weight
/operating_model/cells/downside_2027q2_new_pik_basis:downside/idNonedownside_2027q2_new_pik_basis
/operating_model/cells/downside_2027q2_new_pik_basis:downside/kindNonederived
/operating_model/cells/downside_2027q2_new_pik_basis:downside/labelNoneNew funding weighted for partial quarter
/operating_model/cells/downside_2027q2_new_pik_basis:downside/periodNone2027Q2
/operating_model/cells/downside_2027q2_new_pik_basis:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q2_new_pik_basis:downside/valueNone0.0
/operating_model/cells/downside_2027q2_operating_cash_earnings:downside/basisNoneNo debt forgiveness or financing gain.
/operating_model/cells/downside_2027q2_operating_cash_earnings:downside/caseNonedownside
/operating_model/cells/downside_2027q2_operating_cash_earnings:downside/formula/opNonesum
/operating_model/cells/downside_2027q2_operating_cash_earnings:downside/formula/refs/0Nonedownside_2027q2_operating_income
/operating_model/cells/downside_2027q2_operating_cash_earnings:downside/formula/refs/1Nonedownside_2027q2_sbc
/operating_model/cells/downside_2027q2_operating_cash_earnings:downside/formula/refs/2Nonedownside_2027q2_da
/operating_model/cells/downside_2027q2_operating_cash_earnings:downside/formula/refs/3Nonedownside_2027q2_cash_interest_income
/operating_model/cells/downside_2027q2_operating_cash_earnings:downside/idNonedownside_2027q2_operating_cash_earnings
/operating_model/cells/downside_2027q2_operating_cash_earnings:downside/kindNonederived
/operating_model/cells/downside_2027q2_operating_cash_earnings:downside/labelNoneOperating earnings plus noncash and interest
/operating_model/cells/downside_2027q2_operating_cash_earnings:downside/periodNone2027Q2
/operating_model/cells/downside_2027q2_operating_cash_earnings:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q2_operating_cash_earnings:downside/valueNone-3.189204600000002
/operating_model/cells/downside_2027q2_operating_income:downside/basisNonePreferred PIK is below operating economics, not operating expense.
/operating_model/cells/downside_2027q2_operating_income:downside/caseNonedownside
/operating_model/cells/downside_2027q2_operating_income:downside/formula/opNonesubtract
/operating_model/cells/downside_2027q2_operating_income:downside/formula/refs/0Nonedownside_2027q2_gross_profit
/operating_model/cells/downside_2027q2_operating_income:downside/formula/refs/1Nonedownside_2027q2_opex
/operating_model/cells/downside_2027q2_operating_income:downside/idNonedownside_2027q2_operating_income
/operating_model/cells/downside_2027q2_operating_income:downside/kindNonederived
/operating_model/cells/downside_2027q2_operating_income:downside/labelNoneOperating income proxy
/operating_model/cells/downside_2027q2_operating_income:downside/periodNone2027Q2
/operating_model/cells/downside_2027q2_operating_income:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q2_operating_income:downside/valueNone-11.289204600000001
/operating_model/cells/downside_2027q2_opex:downside/basisNoneNo repeat of H1 IPO SBC as if recurring every quarter.
/operating_model/cells/downside_2027q2_opex:downside/caseNonedownside
/operating_model/cells/downside_2027q2_opex:downside/formula/opNonesum
/operating_model/cells/downside_2027q2_opex:downside/formula/refs/0Nonedownside_2027q2_cash_opex
/operating_model/cells/downside_2027q2_opex:downside/formula/refs/1Nonedownside_2027q2_sbc
/operating_model/cells/downside_2027q2_opex:downside/formula/refs/2Nonedownside_2027q2_da
/operating_model/cells/downside_2027q2_opex:downside/formula/refs/3Nonedownside_2027q2_cash_bonus
/operating_model/cells/downside_2027q2_opex:downside/idNonedownside_2027q2_opex
/operating_model/cells/downside_2027q2_opex:downside/kindNonederived
/operating_model/cells/downside_2027q2_opex:downside/labelNoneCash overhead SBC and D&A
/operating_model/cells/downside_2027q2_opex:downside/periodNone2027Q2
/operating_model/cells/downside_2027q2_opex:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q2_opex:downside/valueNone27.46
/operating_model/cells/downside_2027q2_pass_cost_ratio:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q2_pass_cost_ratio:downside/caseNonedownside
/operating_model/cells/downside_2027q2_pass_cost_ratio:downside/idNonedownside_2027q2_pass_cost_ratio
/operating_model/cells/downside_2027q2_pass_cost_ratio:downside/kindNoneassumption
/operating_model/cells/downside_2027q2_pass_cost_ratio:downside/labelNoneInput-cost share of pass-through
/operating_model/cells/downside_2027q2_pass_cost_ratio:downside/periodNone2027Q2
/operating_model/cells/downside_2027q2_pass_cost_ratio:downside/unitNoneratio
/operating_model/cells/downside_2027q2_pass_cost_ratio:downside/valueNone1.0
/operating_model/cells/downside_2027q2_pass_inventory_cash:downside/basisNoneCommodity inflation can tie up cash despite matched gross profit.
/operating_model/cells/downside_2027q2_pass_inventory_cash:downside/caseNonedownside
/operating_model/cells/downside_2027q2_pass_inventory_cash:downside/formula/opNonemultiply
/operating_model/cells/downside_2027q2_pass_inventory_cash:downside/formula/refs/0Nonedownside_2027q2_metal_pass
/operating_model/cells/downside_2027q2_pass_inventory_cash:downside/formula/refs/1Nonedownside_2027q2_inventory_price_fraction
/operating_model/cells/downside_2027q2_pass_inventory_cash:downside/idNonedownside_2027q2_pass_inventory_cash
/operating_model/cells/downside_2027q2_pass_inventory_cash:downside/kindNonederived
/operating_model/cells/downside_2027q2_pass_inventory_cash:downside/labelNoneAdditional price-related inventory funding
/operating_model/cells/downside_2027q2_pass_inventory_cash:downside/periodNone2027Q2
/operating_model/cells/downside_2027q2_pass_inventory_cash:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q2_pass_inventory_cash:downside/valueNone6.0
/operating_model/cells/downside_2027q2_pik_basis:downside/basisNoneExisting balance includes prior PIK compounding.
/operating_model/cells/downside_2027q2_pik_basis:downside/caseNonedownside
/operating_model/cells/downside_2027q2_pik_basis:downside/formula/opNonesum
/operating_model/cells/downside_2027q2_pik_basis:downside/formula/refs/0Nonedownside_2027q1_preferred_ending
/operating_model/cells/downside_2027q2_pik_basis:downside/formula/refs/1Nonedownside_2027q2_new_pik_basis
/operating_model/cells/downside_2027q2_pik_basis:downside/idNonedownside_2027q2_pik_basis
/operating_model/cells/downside_2027q2_pik_basis:downside/kindNonederived
/operating_model/cells/downside_2027q2_pik_basis:downside/labelNoneWeighted preferred claim for PIK
/operating_model/cells/downside_2027q2_pik_basis:downside/periodNone2027Q2
/operating_model/cells/downside_2027q2_pik_basis:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q2_pik_basis:downside/valueNone206.12788671445742
/operating_model/cells/downside_2027q2_preferred_ending:downside/basisNoneStock balance, not an annual flow; ignores warrant-linked liquidation preference reductions.
/operating_model/cells/downside_2027q2_preferred_ending:downside/caseNonedownside
/operating_model/cells/downside_2027q2_preferred_ending:downside/formula/opNonesum
/operating_model/cells/downside_2027q2_preferred_ending:downside/formula/refs/0Nonedownside_2027q1_preferred_ending
/operating_model/cells/downside_2027q2_preferred_ending:downside/formula/refs/1Nonedownside_2027q2_preferred_funding
/operating_model/cells/downside_2027q2_preferred_ending:downside/formula/refs/2Nonedownside_2027q2_preferred_pik
/operating_model/cells/downside_2027q2_preferred_ending:downside/idNonedownside_2027q2_preferred_ending
/operating_model/cells/downside_2027q2_preferred_ending:downside/kindNonederived
/operating_model/cells/downside_2027q2_preferred_ending:downside/labelNoneEnding preferred claim before warrant adjustments
/operating_model/cells/downside_2027q2_preferred_ending:downside/periodNone2027Q2
/operating_model/cells/downside_2027q2_preferred_ending:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q2_preferred_ending:downside/valueNone208.96214515678122
/operating_model/cells/downside_2027q2_preferred_funding:downside/basisNoneInitial $200M received September 14; any later $50M receipt is conditional and respects six-month tranche availability.
/operating_model/cells/downside_2027q2_preferred_funding:downside/caseNonedownside
/operating_model/cells/downside_2027q2_preferred_funding:downside/idNonedownside_2027q2_preferred_funding
/operating_model/cells/downside_2027q2_preferred_funding:downside/kindNoneassumption
/operating_model/cells/downside_2027q2_preferred_funding:downside/labelNonePreferred financing receipts
/operating_model/cells/downside_2027q2_preferred_funding:downside/periodNone2027Q2
/operating_model/cells/downside_2027q2_preferred_funding:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q2_preferred_funding:downside/valueNone0.0
/operating_model/cells/downside_2027q2_preferred_pik:downside/basisNoneNoncash senior claim; no deduction from current-period cash.
/operating_model/cells/downside_2027q2_preferred_pik:downside/caseNonedownside
/operating_model/cells/downside_2027q2_preferred_pik:downside/formula/opNonemultiply
/operating_model/cells/downside_2027q2_preferred_pik:downside/formula/refs/0Nonedownside_2027q2_pik_basis
/operating_model/cells/downside_2027q2_preferred_pik:downside/formula/refs/1Nonepreferred_rate
/operating_model/cells/downside_2027q2_preferred_pik:downside/formula/refs/2Nonedownside_2027q2_quarter_year
/operating_model/cells/downside_2027q2_preferred_pik:downside/idNonedownside_2027q2_preferred_pik
/operating_model/cells/downside_2027q2_preferred_pik:downside/kindNonederived
/operating_model/cells/downside_2027q2_preferred_pik:downside/labelNonePreferred economic PIK accrual
/operating_model/cells/downside_2027q2_preferred_pik:downside/periodNone2027Q2
/operating_model/cells/downside_2027q2_preferred_pik:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q2_preferred_pik:downside/valueNone2.8342584423237893
/operating_model/cells/downside_2027q2_price_gross:downside/basisNoneMismatch sensitivity is explicit.
/operating_model/cells/downside_2027q2_price_gross:downside/caseNonedownside
/operating_model/cells/downside_2027q2_price_gross:downside/formula/opNonesubtract
/operating_model/cells/downside_2027q2_price_gross:downside/formula/refs/0Nonedownside_2027q2_metal_pass
/operating_model/cells/downside_2027q2_price_gross:downside/formula/refs/1Nonedownside_2027q2_metal_cost
/operating_model/cells/downside_2027q2_price_gross:downside/idNonedownside_2027q2_price_gross
/operating_model/cells/downside_2027q2_price_gross:downside/kindNonederived
/operating_model/cells/downside_2027q2_price_gross:downside/labelNoneIncremental price pass-through gross profit
/operating_model/cells/downside_2027q2_price_gross:downside/periodNone2027Q2
/operating_model/cells/downside_2027q2_price_gross:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q2_price_gross:downside/valueNone0.0
/operating_model/cells/downside_2027q2_quarter_year:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q2_quarter_year:downside/caseNonedownside
/operating_model/cells/downside_2027q2_quarter_year:downside/idNonedownside_2027q2_quarter_year
/operating_model/cells/downside_2027q2_quarter_year:downside/kindNoneassumption
/operating_model/cells/downside_2027q2_quarter_year:downside/labelNoneQuarter-year fraction
/operating_model/cells/downside_2027q2_quarter_year:downside/periodNone2027Q2
/operating_model/cells/downside_2027q2_quarter_year:downside/unitNoneratio
/operating_model/cells/downside_2027q2_quarter_year:downside/valueNone0.25
/operating_model/cells/downside_2027q2_raw_prepay:downside/basisNoneDesk first and milestone-conditioned second $25M funding; later negative amounts are consumption/settlement credits, not new revenue.
/operating_model/cells/downside_2027q2_raw_prepay:downside/caseNonedownside
/operating_model/cells/downside_2027q2_raw_prepay:downside/idNonedownside_2027q2_raw_prepay
/operating_model/cells/downside_2027q2_raw_prepay:downside/kindNoneassumption
/operating_model/cells/downside_2027q2_raw_prepay:downside/labelNoneNet new raw-material prepayments
/operating_model/cells/downside_2027q2_raw_prepay:downside/periodNone2027Q2
/operating_model/cells/downside_2027q2_raw_prepay:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q2_raw_prepay:downside/valueNone25.0
/operating_model/cells/downside_2027q2_revenue:downside/basisNoneNo recognition of preferred funding as revenue.
/operating_model/cells/downside_2027q2_revenue:downside/caseNonedownside
/operating_model/cells/downside_2027q2_revenue:downside/formula/opNonesum
/operating_model/cells/downside_2027q2_revenue:downside/formula/refs/0Nonedownside_2027q2_core_revenue
/operating_model/cells/downside_2027q2_revenue:downside/formula/refs/1Nonedownside_2027q2_stockpile_revenue
/operating_model/cells/downside_2027q2_revenue:downside/idNonedownside_2027q2_revenue
/operating_model/cells/downside_2027q2_revenue:downside/kindNonederived
/operating_model/cells/downside_2027q2_revenue:downside/labelNoneTotal revenue
/operating_model/cells/downside_2027q2_revenue:downside/periodNone2027Q2
/operating_model/cells/downside_2027q2_revenue:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q2_revenue:downside/valueNone86.04907
/operating_model/cells/downside_2027q2_sbc:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q2_sbc:downside/caseNonedownside
/operating_model/cells/downside_2027q2_sbc:downside/idNonedownside_2027q2_sbc
/operating_model/cells/downside_2027q2_sbc:downside/kindNoneassumption
/operating_model/cells/downside_2027q2_sbc:downside/labelNoneSBC
/operating_model/cells/downside_2027q2_sbc:downside/periodNone2027Q2
/operating_model/cells/downside_2027q2_sbc:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q2_sbc:downside/valueNone2.6
/operating_model/cells/downside_2027q2_stock_margin:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q2_stock_margin:downside/caseNonedownside
/operating_model/cells/downside_2027q2_stock_margin:downside/idNonedownside_2027q2_stock_margin
/operating_model/cells/downside_2027q2_stock_margin:downside/kindNoneassumption
/operating_model/cells/downside_2027q2_stock_margin:downside/labelNoneStockpile gross margin
/operating_model/cells/downside_2027q2_stock_margin:downside/periodNone2027Q2
/operating_model/cells/downside_2027q2_stock_margin:downside/unitNoneratio
/operating_model/cells/downside_2027q2_stock_margin:downside/valueNone0.12
/operating_model/cells/downside_2027q2_stockpile_gross:downside/basisNoneProcured input cost is reflected in margin; no unsupported floor-price assumption.
/operating_model/cells/downside_2027q2_stockpile_gross:downside/caseNonedownside
/operating_model/cells/downside_2027q2_stockpile_gross:downside/formula/opNonemultiply
/operating_model/cells/downside_2027q2_stockpile_gross:downside/formula/refs/0Nonedownside_2027q2_stockpile_revenue
/operating_model/cells/downside_2027q2_stockpile_gross:downside/formula/refs/1Nonedownside_2027q2_stock_margin
/operating_model/cells/downside_2027q2_stockpile_gross:downside/idNonedownside_2027q2_stockpile_gross
/operating_model/cells/downside_2027q2_stockpile_gross:downside/kindNonederived
/operating_model/cells/downside_2027q2_stockpile_gross:downside/labelNoneStockpile gross contribution
/operating_model/cells/downside_2027q2_stockpile_gross:downside/periodNone2027Q2
/operating_model/cells/downside_2027q2_stockpile_gross:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q2_stockpile_gross:downside/valueNone0.0
/operating_model/cells/downside_2027q2_stockpile_revenue:downside/basisNoneSupply-qualified delivery assumption, not pro-rata recognition of the contract ceiling or minimum.
/operating_model/cells/downside_2027q2_stockpile_revenue:downside/caseNonedownside
/operating_model/cells/downside_2027q2_stockpile_revenue:downside/idNonedownside_2027q2_stockpile_revenue
/operating_model/cells/downside_2027q2_stockpile_revenue:downside/kindNoneassumption
/operating_model/cells/downside_2027q2_stockpile_revenue:downside/labelNoneAccepted incremental stockpile deliveries
/operating_model/cells/downside_2027q2_stockpile_revenue:downside/periodNone2027Q2
/operating_model/cells/downside_2027q2_stockpile_revenue:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q2_stockpile_revenue:downside/valueNone0.0
/operating_model/cells/downside_2027q2_strategic_cash:downside/basisNonePrepaid input consumption cash credits avoid charging both historical prepayment and subsequent COGS cash without adjustment.
/operating_model/cells/downside_2027q2_strategic_cash:downside/caseNonedownside
/operating_model/cells/downside_2027q2_strategic_cash:downside/formula/opNonesum
/operating_model/cells/downside_2027q2_strategic_cash:downside/formula/refs/0Nonedownside_2027q2_blue_moon
/operating_model/cells/downside_2027q2_strategic_cash:downside/formula/refs/1Nonedownside_2027q2_raw_prepay
/operating_model/cells/downside_2027q2_strategic_cash:downside/formula/refs/2Nonedownside_2027q2_german_price
/operating_model/cells/downside_2027q2_strategic_cash:downside/idNonedownside_2027q2_strategic_cash
/operating_model/cells/downside_2027q2_strategic_cash:downside/kindNonederived
/operating_model/cells/downside_2027q2_strategic_cash:downside/labelNoneMinority prepayment and acquisition cash
/operating_model/cells/downside_2027q2_strategic_cash:downside/periodNone2027Q2
/operating_model/cells/downside_2027q2_strategic_cash:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q2_strategic_cash:downside/valueNone64.24375
/operating_model/cells/downside_2027q3_blue_moon:downside/basisNoneNo consolidated Blue Moon sales or market-value gains.
/operating_model/cells/downside_2027q3_blue_moon:downside/caseNonedownside
/operating_model/cells/downside_2027q3_blue_moon:downside/formula/opNonemultiply
/operating_model/cells/downside_2027q3_blue_moon:downside/formula/refs/0Nonedownside_2027q3_cad_commitment
/operating_model/cells/downside_2027q3_blue_moon:downside/formula/refs/1Nonedownside_2027q3_cad_usd
/operating_model/cells/downside_2027q3_blue_moon:downside/idNonedownside_2027q3_blue_moon
/operating_model/cells/downside_2027q3_blue_moon:downside/kindNonederived
/operating_model/cells/downside_2027q3_blue_moon:downside/labelNoneBlue Moon minority investment cash
/operating_model/cells/downside_2027q3_blue_moon:downside/periodNone2027Q3
/operating_model/cells/downside_2027q3_blue_moon:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q3_blue_moon:downside/valueNone0.0
/operating_model/cells/downside_2027q3_business_investment:downside/basisNoneNo initial government receipt netted into capex.
/operating_model/cells/downside_2027q3_business_investment:downside/caseNonedownside
/operating_model/cells/downside_2027q3_business_investment:downside/formula/opNonesum
/operating_model/cells/downside_2027q3_business_investment:downside/formula/refs/0Nonedownside_2027q3_capex
/operating_model/cells/downside_2027q3_business_investment:downside/formula/refs/1Nonedownside_2027q3_strategic_cash
/operating_model/cells/downside_2027q3_business_investment:downside/idNonedownside_2027q3_business_investment
/operating_model/cells/downside_2027q3_business_investment:downside/kindNonederived
/operating_model/cells/downside_2027q3_business_investment:downside/labelNonePP&E and strategic deployment
/operating_model/cells/downside_2027q3_business_investment:downside/periodNone2027Q3
/operating_model/cells/downside_2027q3_business_investment:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q3_business_investment:downside/valueNone53.0
/operating_model/cells/downside_2027q3_cad_commitment:downside/basisNoneBinding 3.5M-unit commitment at CAD10, within 45 days of September 14; expected in Q4 fiscal 2026.
/operating_model/cells/downside_2027q3_cad_commitment:downside/caseNonedownside
/operating_model/cells/downside_2027q3_cad_commitment:downside/idNonedownside_2027q3_cad_commitment
/operating_model/cells/downside_2027q3_cad_commitment:downside/kindNoneassumption
/operating_model/cells/downside_2027q3_cad_commitment:downside/labelNoneCAD35M investment at 1:1 before FX
/operating_model/cells/downside_2027q3_cad_commitment:downside/periodNone2027Q3
/operating_model/cells/downside_2027q3_cad_commitment:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q3_cad_commitment:downside/valueNone0.0
/operating_model/cells/downside_2027q3_cad_usd:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q3_cad_usd:downside/caseNonedownside
/operating_model/cells/downside_2027q3_cad_usd:downside/idNonedownside_2027q3_cad_usd
/operating_model/cells/downside_2027q3_cad_usd:downside/kindNoneassumption
/operating_model/cells/downside_2027q3_cad_usd:downside/labelNoneUSD per CAD assumption
/operating_model/cells/downside_2027q3_cad_usd:downside/periodNone2027Q3
/operating_model/cells/downside_2027q3_cad_usd:downside/unitNoneratio
/operating_model/cells/downside_2027q3_cad_usd:downside/valueNone0.73
/operating_model/cells/downside_2027q3_capex:downside/basisNoneConsolidated external investment includes domestic expansion and controlled JV plant; internal capital contributions are not counted again.
/operating_model/cells/downside_2027q3_capex:downside/caseNonedownside
/operating_model/cells/downside_2027q3_capex:downside/idNonedownside_2027q3_capex
/operating_model/cells/downside_2027q3_capex:downside/kindNoneassumption
/operating_model/cells/downside_2027q3_capex:downside/labelNoneExternal PP&E domestic and controlled-JV cash
/operating_model/cells/downside_2027q3_capex:downside/periodNone2027Q3
/operating_model/cells/downside_2027q3_capex:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q3_capex:downside/valueNone55.0
/operating_model/cells/downside_2027q3_cash_after_funding:downside/basisNonePeriod flow only; no claim that preferred cash is freely distributable.
/operating_model/cells/downside_2027q3_cash_after_funding:downside/caseNonedownside
/operating_model/cells/downside_2027q3_cash_after_funding:downside/formula/opNonesum
/operating_model/cells/downside_2027q3_cash_after_funding:downside/formula/refs/0Nonedownside_2027q3_cash_after_investing
/operating_model/cells/downside_2027q3_cash_after_funding:downside/formula/refs/1Nonedownside_2027q3_preferred_funding
/operating_model/cells/downside_2027q3_cash_after_funding:downside/idNonedownside_2027q3_cash_after_funding
/operating_model/cells/downside_2027q3_cash_after_funding:downside/kindNonederived
/operating_model/cells/downside_2027q3_cash_after_funding:downside/labelNoneCash after preferred financing
/operating_model/cells/downside_2027q3_cash_after_funding:downside/periodNone2027Q3
/operating_model/cells/downside_2027q3_cash_after_funding:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q3_cash_after_funding:downside/valueNone-94.710958
/operating_model/cells/downside_2027q3_cash_after_investing:downside/basisNoneBefore preferred funding and other capital allocation.
/operating_model/cells/downside_2027q3_cash_after_investing:downside/caseNonedownside
/operating_model/cells/downside_2027q3_cash_after_investing:downside/formula/opNonesubtract
/operating_model/cells/downside_2027q3_cash_after_investing:downside/formula/refs/0Nonedownside_2027q3_cfo
/operating_model/cells/downside_2027q3_cash_after_investing:downside/formula/refs/1Nonedownside_2027q3_business_investment
/operating_model/cells/downside_2027q3_cash_after_investing:downside/idNonedownside_2027q3_cash_after_investing
/operating_model/cells/downside_2027q3_cash_after_investing:downside/kindNonederived
/operating_model/cells/downside_2027q3_cash_after_investing:downside/labelNoneCash after business investing
/operating_model/cells/downside_2027q3_cash_after_investing:downside/periodNone2027Q3
/operating_model/cells/downside_2027q3_cash_after_investing:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q3_cash_after_investing:downside/valueNone-94.710958
/operating_model/cells/downside_2027q3_cash_bonus:downside/basisNoneMaximum September award shown as a Q2 2027 cash/expense sensitivity, conditional on employment and measurement criteria; not SBC.
/operating_model/cells/downside_2027q3_cash_bonus:downside/caseNonedownside
/operating_model/cells/downside_2027q3_cash_bonus:downside/idNonedownside_2027q3_cash_bonus
/operating_model/cells/downside_2027q3_cash_bonus:downside/kindNoneassumption
/operating_model/cells/downside_2027q3_cash_bonus:downside/labelNonePerformance cash-bonus allowance
/operating_model/cells/downside_2027q3_cash_bonus:downside/periodNone2027Q3
/operating_model/cells/downside_2027q3_cash_bonus:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q3_cash_bonus:downside/valueNone0.0
/operating_model/cells/downside_2027q3_cash_interest:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q3_cash_interest:downside/caseNonedownside
/operating_model/cells/downside_2027q3_cash_interest:downside/idNonedownside_2027q3_cash_interest
/operating_model/cells/downside_2027q3_cash_interest:downside/kindNoneassumption
/operating_model/cells/downside_2027q3_cash_interest:downside/labelNoneCash debt interest
/operating_model/cells/downside_2027q3_cash_interest:downside/periodNone2027Q3
/operating_model/cells/downside_2027q3_cash_interest:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q3_cash_interest:downside/valueNone0.2
/operating_model/cells/downside_2027q3_cash_interest_income:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q3_cash_interest_income:downside/caseNonedownside
/operating_model/cells/downside_2027q3_cash_interest_income:downside/idNonedownside_2027q3_cash_interest_income
/operating_model/cells/downside_2027q3_cash_interest_income:downside/kindNoneassumption
/operating_model/cells/downside_2027q3_cash_interest_income:downside/labelNoneCash interest income
/operating_model/cells/downside_2027q3_cash_interest_income:downside/periodNone2027Q3
/operating_model/cells/downside_2027q3_cash_interest_income:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q3_cash_interest_income:downside/valueNone2.0
/operating_model/cells/downside_2027q3_cash_opex:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q3_cash_opex:downside/caseNonedownside
/operating_model/cells/downside_2027q3_cash_opex:downside/idNonedownside_2027q3_cash_opex
/operating_model/cells/downside_2027q3_cash_opex:downside/kindNoneassumption
/operating_model/cells/downside_2027q3_cash_opex:downside/labelNoneCash corporate R&D and selling expense
/operating_model/cells/downside_2027q3_cash_opex:downside/periodNone2027Q3
/operating_model/cells/downside_2027q3_cash_opex:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q3_cash_opex:downside/valueNone19.679999999999996
/operating_model/cells/downside_2027q3_cash_tax:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q3_cash_tax:downside/caseNonedownside
/operating_model/cells/downside_2027q3_cash_tax:downside/idNonedownside_2027q3_cash_tax
/operating_model/cells/downside_2027q3_cash_tax:downside/kindNoneassumption
/operating_model/cells/downside_2027q3_cash_tax:downside/labelNoneCash tax
/operating_model/cells/downside_2027q3_cash_tax:downside/periodNone2027Q3
/operating_model/cells/downside_2027q3_cash_tax:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q3_cash_tax:downside/valueNone4.0
/operating_model/cells/downside_2027q3_cash_uses:downside/basisNoneProject input prepayments are shown separately in strategic cash.
/operating_model/cells/downside_2027q3_cash_uses:downside/caseNonedownside
/operating_model/cells/downside_2027q3_cash_uses:downside/formula/opNonesum
/operating_model/cells/downside_2027q3_cash_uses:downside/formula/refs/0Nonedownside_2027q3_cash_tax
/operating_model/cells/downside_2027q3_cash_uses:downside/formula/refs/1Nonedownside_2027q3_cash_interest
/operating_model/cells/downside_2027q3_cash_uses:downside/formula/refs/2Nonedownside_2027q3_inventory_other_cash
/operating_model/cells/downside_2027q3_cash_uses:downside/formula/refs/3Nonedownside_2027q3_pass_inventory_cash
/operating_model/cells/downside_2027q3_cash_uses:downside/idNonedownside_2027q3_cash_uses
/operating_model/cells/downside_2027q3_cash_uses:downside/kindNonederived
/operating_model/cells/downside_2027q3_cash_uses:downside/labelNoneTax interest and working capital
/operating_model/cells/downside_2027q3_cash_uses:downside/periodNone2027Q3
/operating_model/cells/downside_2027q3_cash_uses:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q3_cash_uses:downside/valueNone41.6
/operating_model/cells/downside_2027q3_cfo:downside/basisNoneNo current-period preferred cash dividend.
/operating_model/cells/downside_2027q3_cfo:downside/caseNonedownside
/operating_model/cells/downside_2027q3_cfo:downside/formula/opNonesubtract
/operating_model/cells/downside_2027q3_cfo:downside/formula/refs/0Nonedownside_2027q3_operating_cash_earnings
/operating_model/cells/downside_2027q3_cfo:downside/formula/refs/1Nonedownside_2027q3_cash_uses
/operating_model/cells/downside_2027q3_cfo:downside/idNonedownside_2027q3_cfo
/operating_model/cells/downside_2027q3_cfo:downside/kindNonederived
/operating_model/cells/downside_2027q3_cfo:downside/labelNoneOperating cash flow proxy
/operating_model/cells/downside_2027q3_cfo:downside/periodNone2027Q3
/operating_model/cells/downside_2027q3_cfo:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q3_cfo:downside/valueNone-41.710958
/operating_model/cells/downside_2027q3_core_margin:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q3_core_margin:downside/caseNonedownside
/operating_model/cells/downside_2027q3_core_margin:downside/idNonedownside_2027q3_core_margin
/operating_model/cells/downside_2027q3_core_margin:downside/kindNoneassumption
/operating_model/cells/downside_2027q3_core_margin:downside/labelNoneCore gross margin
/operating_model/cells/downside_2027q3_core_margin:downside/periodNone2027Q3
/operating_model/cells/downside_2027q3_core_margin:downside/unitNoneratio
/operating_model/cells/downside_2027q3_core_margin:downside/valueNone0.22
/operating_model/cells/downside_2027q3_core_revenue:downside/basisNoneCurrent manufacturing and conditional acquired operations; stockpile is separate.
/operating_model/cells/downside_2027q3_core_revenue:downside/caseNonedownside
/operating_model/cells/downside_2027q3_core_revenue:downside/formula/opNonesum
/operating_model/cells/downside_2027q3_core_revenue:downside/formula/refs/0Nonedownside_2027q3_legacy_demand
/operating_model/cells/downside_2027q3_core_revenue:downside/formula/refs/1Nonedownside_2027q3_metal_pass
/operating_model/cells/downside_2027q3_core_revenue:downside/formula/refs/2Nonedownside_2027q3_german_revenue
/operating_model/cells/downside_2027q3_core_revenue:downside/idNonedownside_2027q3_core_revenue
/operating_model/cells/downside_2027q3_core_revenue:downside/kindNonederived
/operating_model/cells/downside_2027q3_core_revenue:downside/labelNoneCore and acquired revenue
/operating_model/cells/downside_2027q3_core_revenue:downside/periodNone2027Q3
/operating_model/cells/downside_2027q3_core_revenue:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q3_core_revenue:downside/valueNone88.0411
/operating_model/cells/downside_2027q3_da:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q3_da:downside/caseNonedownside
/operating_model/cells/downside_2027q3_da:downside/idNonedownside_2027q3_da
/operating_model/cells/downside_2027q3_da:downside/kindNoneassumption
/operating_model/cells/downside_2027q3_da:downside/labelNoneOperating D&A
/operating_model/cells/downside_2027q3_da:downside/periodNone2027Q3
/operating_model/cells/downside_2027q3_da:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q3_da:downside/valueNone4.0
/operating_model/cells/downside_2027q3_demand_index:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q3_demand_index:downside/caseNonedownside
/operating_model/cells/downside_2027q3_demand_index:downside/idNonedownside_2027q3_demand_index
/operating_model/cells/downside_2027q3_demand_index:downside/kindNoneassumption
/operating_model/cells/downside_2027q3_demand_index:downside/labelNoneNet volume and mix versus Q2
/operating_model/cells/downside_2027q3_demand_index:downside/periodNone2027Q3
/operating_model/cells/downside_2027q3_demand_index:downside/unitNoneratio
/operating_model/cells/downside_2027q3_demand_index:downside/valueNone1.1
/operating_model/cells/downside_2027q3_eur_usd:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q3_eur_usd:downside/caseNonedownside
/operating_model/cells/downside_2027q3_eur_usd:downside/idNonedownside_2027q3_eur_usd
/operating_model/cells/downside_2027q3_eur_usd:downside/kindNoneassumption
/operating_model/cells/downside_2027q3_eur_usd:downside/labelNoneUSD per EUR conversion
/operating_model/cells/downside_2027q3_eur_usd:downside/periodNone2027Q3
/operating_model/cells/downside_2027q3_eur_usd:downside/unitNoneratio
/operating_model/cells/downside_2027q3_eur_usd:downside/valueNone1.15
/operating_model/cells/downside_2027q3_funding_weight:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q3_funding_weight:downside/caseNonedownside
/operating_model/cells/downside_2027q3_funding_weight:downside/idNonedownside_2027q3_funding_weight
/operating_model/cells/downside_2027q3_funding_weight:downside/kindNoneassumption
/operating_model/cells/downside_2027q3_funding_weight:downside/labelNoneNew funding quarter weight
/operating_model/cells/downside_2027q3_funding_weight:downside/periodNone2027Q3
/operating_model/cells/downside_2027q3_funding_weight:downside/unitNoneratio
/operating_model/cells/downside_2027q3_funding_weight:downside/valueNone0.25
/operating_model/cells/downside_2027q3_german_eur_amount:downside/basisNoneDesk working capital and net pension assumptions in contractual price formula; signed amount can be negative.
/operating_model/cells/downside_2027q3_german_eur_amount:downside/caseNonedownside
/operating_model/cells/downside_2027q3_german_eur_amount:downside/idNonedownside_2027q3_german_eur_amount
/operating_model/cells/downside_2027q3_german_eur_amount:downside/kindNoneassumption
/operating_model/cells/downside_2027q3_german_eur_amount:downside/labelNoneGerman net price sensitivity, EUR millions represented at 1:1 before FX
/operating_model/cells/downside_2027q3_german_eur_amount:downside/periodNone2027Q3
/operating_model/cells/downside_2027q3_german_eur_amount:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q3_german_eur_amount:downside/valueNone0.0
/operating_model/cells/downside_2027q3_german_gross:downside/basisNoneUnverified post-close margin.
/operating_model/cells/downside_2027q3_german_gross:downside/caseNonedownside
/operating_model/cells/downside_2027q3_german_gross:downside/formula/opNonemultiply
/operating_model/cells/downside_2027q3_german_gross:downside/formula/refs/0Nonedownside_2027q3_german_revenue
/operating_model/cells/downside_2027q3_german_gross:downside/formula/refs/1Nonedownside_2027q3_german_margin
/operating_model/cells/downside_2027q3_german_gross:downside/idNonedownside_2027q3_german_gross
/operating_model/cells/downside_2027q3_german_gross:downside/kindNonederived
/operating_model/cells/downside_2027q3_german_gross:downside/labelNoneGerman gross contribution
/operating_model/cells/downside_2027q3_german_gross:downside/periodNone2027Q3
/operating_model/cells/downside_2027q3_german_gross:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q3_german_gross:downside/valueNone0.8999999999999999
/operating_model/cells/downside_2027q3_german_margin:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q3_german_margin:downside/caseNonedownside
/operating_model/cells/downside_2027q3_german_margin:downside/idNonedownside_2027q3_german_margin
/operating_model/cells/downside_2027q3_german_margin:downside/kindNoneassumption
/operating_model/cells/downside_2027q3_german_margin:downside/labelNoneAcquired gross margin
/operating_model/cells/downside_2027q3_german_margin:downside/periodNone2027Q3
/operating_model/cells/downside_2027q3_german_margin:downside/unitNoneratio
/operating_model/cells/downside_2027q3_german_margin:downside/valueNone0.18
/operating_model/cells/downside_2027q3_german_price:downside/basisNoneScenario only; metal inventory and pension measurement can materially change final consideration.
/operating_model/cells/downside_2027q3_german_price:downside/caseNonedownside
/operating_model/cells/downside_2027q3_german_price:downside/formula/opNonemultiply
/operating_model/cells/downside_2027q3_german_price:downside/formula/refs/0Nonedownside_2027q3_german_eur_amount
/operating_model/cells/downside_2027q3_german_price:downside/formula/refs/1Nonedownside_2027q3_eur_usd
/operating_model/cells/downside_2027q3_german_price:downside/idNonedownside_2027q3_german_price
/operating_model/cells/downside_2027q3_german_price:downside/kindNonederived
/operating_model/cells/downside_2027q3_german_price:downside/labelNoneConditional German closing cash in USD
/operating_model/cells/downside_2027q3_german_price:downside/periodNone2027Q3
/operating_model/cells/downside_2027q3_german_price:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q3_german_price:downside/valueNone0.0
/operating_model/cells/downside_2027q3_german_revenue:downside/basisNoneDesk acquired-period contribution only after assumed closing; transaction remains conditional.
/operating_model/cells/downside_2027q3_german_revenue:downside/caseNonedownside
/operating_model/cells/downside_2027q3_german_revenue:downside/idNonedownside_2027q3_german_revenue
/operating_model/cells/downside_2027q3_german_revenue:downside/kindNoneassumption
/operating_model/cells/downside_2027q3_german_revenue:downside/labelNoneConditional acquired German revenue
/operating_model/cells/downside_2027q3_german_revenue:downside/periodNone2027Q3
/operating_model/cells/downside_2027q3_german_revenue:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q3_german_revenue:downside/valueNone5.0
/operating_model/cells/downside_2027q3_gross_profit:downside/basisNoneCompany forecasts are not supplied for the new program.
/operating_model/cells/downside_2027q3_gross_profit:downside/caseNonedownside
/operating_model/cells/downside_2027q3_gross_profit:downside/formula/opNonesum
/operating_model/cells/downside_2027q3_gross_profit:downside/formula/refs/0Nonedownside_2027q3_legacy_gross
/operating_model/cells/downside_2027q3_gross_profit:downside/formula/refs/1Nonedownside_2027q3_price_gross
/operating_model/cells/downside_2027q3_gross_profit:downside/formula/refs/2Nonedownside_2027q3_german_gross
/operating_model/cells/downside_2027q3_gross_profit:downside/formula/refs/3Nonedownside_2027q3_stockpile_gross
/operating_model/cells/downside_2027q3_gross_profit:downside/idNonedownside_2027q3_gross_profit
/operating_model/cells/downside_2027q3_gross_profit:downside/kindNonederived
/operating_model/cells/downside_2027q3_gross_profit:downside/labelNoneGross profit proxy
/operating_model/cells/downside_2027q3_gross_profit:downside/periodNone2027Q3
/operating_model/cells/downside_2027q3_gross_profit:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q3_gross_profit:downside/valueNone17.569042
/operating_model/cells/downside_2027q3_inventory_other_cash:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q3_inventory_other_cash:downside/caseNonedownside
/operating_model/cells/downside_2027q3_inventory_other_cash:downside/idNonedownside_2027q3_inventory_other_cash
/operating_model/cells/downside_2027q3_inventory_other_cash:downside/kindNoneassumption
/operating_model/cells/downside_2027q3_inventory_other_cash:downside/labelNoneInventory and other working-capital use
/operating_model/cells/downside_2027q3_inventory_other_cash:downside/periodNone2027Q3
/operating_model/cells/downside_2027q3_inventory_other_cash:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q3_inventory_other_cash:downside/valueNone32.4
/operating_model/cells/downside_2027q3_inventory_price_fraction:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q3_inventory_price_fraction:downside/caseNonedownside
/operating_model/cells/downside_2027q3_inventory_price_fraction:downside/idNonedownside_2027q3_inventory_price_fraction
/operating_model/cells/downside_2027q3_inventory_price_fraction:downside/kindNoneassumption
/operating_model/cells/downside_2027q3_inventory_price_fraction:downside/labelNonePrice-related inventory funding share
/operating_model/cells/downside_2027q3_inventory_price_fraction:downside/periodNone2027Q3
/operating_model/cells/downside_2027q3_inventory_price_fraction:downside/unitNoneratio
/operating_model/cells/downside_2027q3_inventory_price_fraction:downside/valueNone0.5
/operating_model/cells/downside_2027q3_legacy_demand:downside/basisNoneDemand separated from incremental metal-price pass-through.
/operating_model/cells/downside_2027q3_legacy_demand:downside/caseNonedownside
/operating_model/cells/downside_2027q3_legacy_demand:downside/formula/opNonemultiply
/operating_model/cells/downside_2027q3_legacy_demand:downside/formula/refs/0Noneq2_revenue
/operating_model/cells/downside_2027q3_legacy_demand:downside/formula/refs/1Nonedownside_2027q3_demand_index
/operating_model/cells/downside_2027q3_legacy_demand:downside/idNonedownside_2027q3_legacy_demand
/operating_model/cells/downside_2027q3_legacy_demand:downside/kindNonederived
/operating_model/cells/downside_2027q3_legacy_demand:downside/labelNoneLegacy revenue at reference metal prices
/operating_model/cells/downside_2027q3_legacy_demand:downside/periodNone2027Q3
/operating_model/cells/downside_2027q3_legacy_demand:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q3_legacy_demand:downside/valueNone73.0411
/operating_model/cells/downside_2027q3_legacy_gross:downside/basisNoneIndependent operating-margin scenario.
/operating_model/cells/downside_2027q3_legacy_gross:downside/caseNonedownside
/operating_model/cells/downside_2027q3_legacy_gross:downside/formula/opNonemultiply
/operating_model/cells/downside_2027q3_legacy_gross:downside/formula/refs/0Nonedownside_2027q3_legacy_demand
/operating_model/cells/downside_2027q3_legacy_gross:downside/formula/refs/1Nonedownside_2027q3_core_margin
/operating_model/cells/downside_2027q3_legacy_gross:downside/idNonedownside_2027q3_legacy_gross
/operating_model/cells/downside_2027q3_legacy_gross:downside/kindNonederived
/operating_model/cells/downside_2027q3_legacy_gross:downside/labelNoneLegacy gross profit
/operating_model/cells/downside_2027q3_legacy_gross:downside/periodNone2027Q3
/operating_model/cells/downside_2027q3_legacy_gross:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q3_legacy_gross:downside/valueNone16.069042
/operating_model/cells/downside_2027q3_metal_cost:downside/basisNoneAt 100% pass-through, higher commodity prices do not create gross profit.
/operating_model/cells/downside_2027q3_metal_cost:downside/caseNonedownside
/operating_model/cells/downside_2027q3_metal_cost:downside/formula/opNonemultiply
/operating_model/cells/downside_2027q3_metal_cost:downside/formula/refs/0Nonedownside_2027q3_metal_pass
/operating_model/cells/downside_2027q3_metal_cost:downside/formula/refs/1Nonedownside_2027q3_pass_cost_ratio
/operating_model/cells/downside_2027q3_metal_cost:downside/idNonedownside_2027q3_metal_cost
/operating_model/cells/downside_2027q3_metal_cost:downside/kindNonederived
/operating_model/cells/downside_2027q3_metal_cost:downside/labelNoneMatched input price cost
/operating_model/cells/downside_2027q3_metal_cost:downside/periodNone2027Q3
/operating_model/cells/downside_2027q3_metal_cost:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q3_metal_cost:downside/valueNone10.0
/operating_model/cells/downside_2027q3_metal_pass:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q3_metal_pass:downside/caseNonedownside
/operating_model/cells/downside_2027q3_metal_pass:downside/idNonedownside_2027q3_metal_pass
/operating_model/cells/downside_2027q3_metal_pass:downside/kindNoneassumption
/operating_model/cells/downside_2027q3_metal_pass:downside/labelNoneIncremental raw-material price pass-through
/operating_model/cells/downside_2027q3_metal_pass:downside/periodNone2027Q3
/operating_model/cells/downside_2027q3_metal_pass:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q3_metal_pass:downside/valueNone10.0
/operating_model/cells/downside_2027q3_new_pik_basis:downside/basisNoneInitial 19-day approximate accrual; later tranches assumed late-quarter.
/operating_model/cells/downside_2027q3_new_pik_basis:downside/caseNonedownside
/operating_model/cells/downside_2027q3_new_pik_basis:downside/formula/opNonemultiply
/operating_model/cells/downside_2027q3_new_pik_basis:downside/formula/refs/0Nonedownside_2027q3_preferred_funding
/operating_model/cells/downside_2027q3_new_pik_basis:downside/formula/refs/1Nonedownside_2027q3_funding_weight
/operating_model/cells/downside_2027q3_new_pik_basis:downside/idNonedownside_2027q3_new_pik_basis
/operating_model/cells/downside_2027q3_new_pik_basis:downside/kindNonederived
/operating_model/cells/downside_2027q3_new_pik_basis:downside/labelNoneNew funding weighted for partial quarter
/operating_model/cells/downside_2027q3_new_pik_basis:downside/periodNone2027Q3
/operating_model/cells/downside_2027q3_new_pik_basis:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q3_new_pik_basis:downside/valueNone0.0
/operating_model/cells/downside_2027q3_operating_cash_earnings:downside/basisNoneNo debt forgiveness or financing gain.
/operating_model/cells/downside_2027q3_operating_cash_earnings:downside/caseNonedownside
/operating_model/cells/downside_2027q3_operating_cash_earnings:downside/formula/opNonesum
/operating_model/cells/downside_2027q3_operating_cash_earnings:downside/formula/refs/0Nonedownside_2027q3_operating_income
/operating_model/cells/downside_2027q3_operating_cash_earnings:downside/formula/refs/1Nonedownside_2027q3_sbc
/operating_model/cells/downside_2027q3_operating_cash_earnings:downside/formula/refs/2Nonedownside_2027q3_da
/operating_model/cells/downside_2027q3_operating_cash_earnings:downside/formula/refs/3Nonedownside_2027q3_cash_interest_income
/operating_model/cells/downside_2027q3_operating_cash_earnings:downside/idNonedownside_2027q3_operating_cash_earnings
/operating_model/cells/downside_2027q3_operating_cash_earnings:downside/kindNonederived
/operating_model/cells/downside_2027q3_operating_cash_earnings:downside/labelNoneOperating earnings plus noncash and interest
/operating_model/cells/downside_2027q3_operating_cash_earnings:downside/periodNone2027Q3
/operating_model/cells/downside_2027q3_operating_cash_earnings:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q3_operating_cash_earnings:downside/valueNone-0.11095799999999745
/operating_model/cells/downside_2027q3_operating_income:downside/basisNonePreferred PIK is below operating economics, not operating expense.
/operating_model/cells/downside_2027q3_operating_income:downside/caseNonedownside
/operating_model/cells/downside_2027q3_operating_income:downside/formula/opNonesubtract
/operating_model/cells/downside_2027q3_operating_income:downside/formula/refs/0Nonedownside_2027q3_gross_profit
/operating_model/cells/downside_2027q3_operating_income:downside/formula/refs/1Nonedownside_2027q3_opex
/operating_model/cells/downside_2027q3_operating_income:downside/idNonedownside_2027q3_operating_income
/operating_model/cells/downside_2027q3_operating_income:downside/kindNonederived
/operating_model/cells/downside_2027q3_operating_income:downside/labelNoneOperating income proxy
/operating_model/cells/downside_2027q3_operating_income:downside/periodNone2027Q3
/operating_model/cells/downside_2027q3_operating_income:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q3_operating_income:downside/valueNone-8.910957999999997
/operating_model/cells/downside_2027q3_opex:downside/basisNoneNo repeat of H1 IPO SBC as if recurring every quarter.
/operating_model/cells/downside_2027q3_opex:downside/caseNonedownside
/operating_model/cells/downside_2027q3_opex:downside/formula/opNonesum
/operating_model/cells/downside_2027q3_opex:downside/formula/refs/0Nonedownside_2027q3_cash_opex
/operating_model/cells/downside_2027q3_opex:downside/formula/refs/1Nonedownside_2027q3_sbc
/operating_model/cells/downside_2027q3_opex:downside/formula/refs/2Nonedownside_2027q3_da
/operating_model/cells/downside_2027q3_opex:downside/formula/refs/3Nonedownside_2027q3_cash_bonus
/operating_model/cells/downside_2027q3_opex:downside/idNonedownside_2027q3_opex
/operating_model/cells/downside_2027q3_opex:downside/kindNonederived
/operating_model/cells/downside_2027q3_opex:downside/labelNoneCash overhead SBC and D&A
/operating_model/cells/downside_2027q3_opex:downside/periodNone2027Q3
/operating_model/cells/downside_2027q3_opex:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q3_opex:downside/valueNone26.479999999999997
/operating_model/cells/downside_2027q3_pass_cost_ratio:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q3_pass_cost_ratio:downside/caseNonedownside
/operating_model/cells/downside_2027q3_pass_cost_ratio:downside/idNonedownside_2027q3_pass_cost_ratio
/operating_model/cells/downside_2027q3_pass_cost_ratio:downside/kindNoneassumption
/operating_model/cells/downside_2027q3_pass_cost_ratio:downside/labelNoneInput-cost share of pass-through
/operating_model/cells/downside_2027q3_pass_cost_ratio:downside/periodNone2027Q3
/operating_model/cells/downside_2027q3_pass_cost_ratio:downside/unitNoneratio
/operating_model/cells/downside_2027q3_pass_cost_ratio:downside/valueNone1.0
/operating_model/cells/downside_2027q3_pass_inventory_cash:downside/basisNoneCommodity inflation can tie up cash despite matched gross profit.
/operating_model/cells/downside_2027q3_pass_inventory_cash:downside/caseNonedownside
/operating_model/cells/downside_2027q3_pass_inventory_cash:downside/formula/opNonemultiply
/operating_model/cells/downside_2027q3_pass_inventory_cash:downside/formula/refs/0Nonedownside_2027q3_metal_pass
/operating_model/cells/downside_2027q3_pass_inventory_cash:downside/formula/refs/1Nonedownside_2027q3_inventory_price_fraction
/operating_model/cells/downside_2027q3_pass_inventory_cash:downside/idNonedownside_2027q3_pass_inventory_cash
/operating_model/cells/downside_2027q3_pass_inventory_cash:downside/kindNonederived
/operating_model/cells/downside_2027q3_pass_inventory_cash:downside/labelNoneAdditional price-related inventory funding
/operating_model/cells/downside_2027q3_pass_inventory_cash:downside/periodNone2027Q3
/operating_model/cells/downside_2027q3_pass_inventory_cash:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q3_pass_inventory_cash:downside/valueNone5.0
/operating_model/cells/downside_2027q3_pik_basis:downside/basisNoneExisting balance includes prior PIK compounding.
/operating_model/cells/downside_2027q3_pik_basis:downside/caseNonedownside
/operating_model/cells/downside_2027q3_pik_basis:downside/formula/opNonesum
/operating_model/cells/downside_2027q3_pik_basis:downside/formula/refs/0Nonedownside_2027q2_preferred_ending
/operating_model/cells/downside_2027q3_pik_basis:downside/formula/refs/1Nonedownside_2027q3_new_pik_basis
/operating_model/cells/downside_2027q3_pik_basis:downside/idNonedownside_2027q3_pik_basis
/operating_model/cells/downside_2027q3_pik_basis:downside/kindNonederived
/operating_model/cells/downside_2027q3_pik_basis:downside/labelNoneWeighted preferred claim for PIK
/operating_model/cells/downside_2027q3_pik_basis:downside/periodNone2027Q3
/operating_model/cells/downside_2027q3_pik_basis:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q3_pik_basis:downside/valueNone208.96214515678122
/operating_model/cells/downside_2027q3_preferred_ending:downside/basisNoneStock balance, not an annual flow; ignores warrant-linked liquidation preference reductions.
/operating_model/cells/downside_2027q3_preferred_ending:downside/caseNonedownside
/operating_model/cells/downside_2027q3_preferred_ending:downside/formula/opNonesum
/operating_model/cells/downside_2027q3_preferred_ending:downside/formula/refs/0Nonedownside_2027q2_preferred_ending
/operating_model/cells/downside_2027q3_preferred_ending:downside/formula/refs/1Nonedownside_2027q3_preferred_funding
/operating_model/cells/downside_2027q3_preferred_ending:downside/formula/refs/2Nonedownside_2027q3_preferred_pik
/operating_model/cells/downside_2027q3_preferred_ending:downside/idNonedownside_2027q3_preferred_ending
/operating_model/cells/downside_2027q3_preferred_ending:downside/kindNonederived
/operating_model/cells/downside_2027q3_preferred_ending:downside/labelNoneEnding preferred claim before warrant adjustments
/operating_model/cells/downside_2027q3_preferred_ending:downside/periodNone2027Q3
/operating_model/cells/downside_2027q3_preferred_ending:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q3_preferred_ending:downside/valueNone211.83537465268697
/operating_model/cells/downside_2027q3_preferred_funding:downside/basisNoneInitial $200M received September 14; any later $50M receipt is conditional and respects six-month tranche availability.
/operating_model/cells/downside_2027q3_preferred_funding:downside/caseNonedownside
/operating_model/cells/downside_2027q3_preferred_funding:downside/idNonedownside_2027q3_preferred_funding
/operating_model/cells/downside_2027q3_preferred_funding:downside/kindNoneassumption
/operating_model/cells/downside_2027q3_preferred_funding:downside/labelNonePreferred financing receipts
/operating_model/cells/downside_2027q3_preferred_funding:downside/periodNone2027Q3
/operating_model/cells/downside_2027q3_preferred_funding:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q3_preferred_funding:downside/valueNone0.0
/operating_model/cells/downside_2027q3_preferred_pik:downside/basisNoneNoncash senior claim; no deduction from current-period cash.
/operating_model/cells/downside_2027q3_preferred_pik:downside/caseNonedownside
/operating_model/cells/downside_2027q3_preferred_pik:downside/formula/opNonemultiply
/operating_model/cells/downside_2027q3_preferred_pik:downside/formula/refs/0Nonedownside_2027q3_pik_basis
/operating_model/cells/downside_2027q3_preferred_pik:downside/formula/refs/1Nonepreferred_rate
/operating_model/cells/downside_2027q3_preferred_pik:downside/formula/refs/2Nonedownside_2027q3_quarter_year
/operating_model/cells/downside_2027q3_preferred_pik:downside/idNonedownside_2027q3_preferred_pik
/operating_model/cells/downside_2027q3_preferred_pik:downside/kindNonederived
/operating_model/cells/downside_2027q3_preferred_pik:downside/labelNonePreferred economic PIK accrual
/operating_model/cells/downside_2027q3_preferred_pik:downside/periodNone2027Q3
/operating_model/cells/downside_2027q3_preferred_pik:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q3_preferred_pik:downside/valueNone2.8732294959057416
/operating_model/cells/downside_2027q3_price_gross:downside/basisNoneMismatch sensitivity is explicit.
/operating_model/cells/downside_2027q3_price_gross:downside/caseNonedownside
/operating_model/cells/downside_2027q3_price_gross:downside/formula/opNonesubtract
/operating_model/cells/downside_2027q3_price_gross:downside/formula/refs/0Nonedownside_2027q3_metal_pass
/operating_model/cells/downside_2027q3_price_gross:downside/formula/refs/1Nonedownside_2027q3_metal_cost
/operating_model/cells/downside_2027q3_price_gross:downside/idNonedownside_2027q3_price_gross
/operating_model/cells/downside_2027q3_price_gross:downside/kindNonederived
/operating_model/cells/downside_2027q3_price_gross:downside/labelNoneIncremental price pass-through gross profit
/operating_model/cells/downside_2027q3_price_gross:downside/periodNone2027Q3
/operating_model/cells/downside_2027q3_price_gross:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q3_price_gross:downside/valueNone0.0
/operating_model/cells/downside_2027q3_quarter_year:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q3_quarter_year:downside/caseNonedownside
/operating_model/cells/downside_2027q3_quarter_year:downside/idNonedownside_2027q3_quarter_year
/operating_model/cells/downside_2027q3_quarter_year:downside/kindNoneassumption
/operating_model/cells/downside_2027q3_quarter_year:downside/labelNoneQuarter-year fraction
/operating_model/cells/downside_2027q3_quarter_year:downside/periodNone2027Q3
/operating_model/cells/downside_2027q3_quarter_year:downside/unitNoneratio
/operating_model/cells/downside_2027q3_quarter_year:downside/valueNone0.25
/operating_model/cells/downside_2027q3_raw_prepay:downside/basisNoneDesk first and milestone-conditioned second $25M funding; later negative amounts are consumption/settlement credits, not new revenue.
/operating_model/cells/downside_2027q3_raw_prepay:downside/caseNonedownside
/operating_model/cells/downside_2027q3_raw_prepay:downside/idNonedownside_2027q3_raw_prepay
/operating_model/cells/downside_2027q3_raw_prepay:downside/kindNoneassumption
/operating_model/cells/downside_2027q3_raw_prepay:downside/labelNoneNet new raw-material prepayments
/operating_model/cells/downside_2027q3_raw_prepay:downside/periodNone2027Q3
/operating_model/cells/downside_2027q3_raw_prepay:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q3_raw_prepay:downside/valueNone-2.0
/operating_model/cells/downside_2027q3_revenue:downside/basisNoneNo recognition of preferred funding as revenue.
/operating_model/cells/downside_2027q3_revenue:downside/caseNonedownside
/operating_model/cells/downside_2027q3_revenue:downside/formula/opNonesum
/operating_model/cells/downside_2027q3_revenue:downside/formula/refs/0Nonedownside_2027q3_core_revenue
/operating_model/cells/downside_2027q3_revenue:downside/formula/refs/1Nonedownside_2027q3_stockpile_revenue
/operating_model/cells/downside_2027q3_revenue:downside/idNonedownside_2027q3_revenue
/operating_model/cells/downside_2027q3_revenue:downside/kindNonederived
/operating_model/cells/downside_2027q3_revenue:downside/labelNoneTotal revenue
/operating_model/cells/downside_2027q3_revenue:downside/periodNone2027Q3
/operating_model/cells/downside_2027q3_revenue:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q3_revenue:downside/valueNone93.0411
/operating_model/cells/downside_2027q3_sbc:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q3_sbc:downside/caseNonedownside
/operating_model/cells/downside_2027q3_sbc:downside/idNonedownside_2027q3_sbc
/operating_model/cells/downside_2027q3_sbc:downside/kindNoneassumption
/operating_model/cells/downside_2027q3_sbc:downside/labelNoneSBC
/operating_model/cells/downside_2027q3_sbc:downside/periodNone2027Q3
/operating_model/cells/downside_2027q3_sbc:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q3_sbc:downside/valueNone2.8
/operating_model/cells/downside_2027q3_stock_margin:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q3_stock_margin:downside/caseNonedownside
/operating_model/cells/downside_2027q3_stock_margin:downside/idNonedownside_2027q3_stock_margin
/operating_model/cells/downside_2027q3_stock_margin:downside/kindNoneassumption
/operating_model/cells/downside_2027q3_stock_margin:downside/labelNoneStockpile gross margin
/operating_model/cells/downside_2027q3_stock_margin:downside/periodNone2027Q3
/operating_model/cells/downside_2027q3_stock_margin:downside/unitNoneratio
/operating_model/cells/downside_2027q3_stock_margin:downside/valueNone0.12
/operating_model/cells/downside_2027q3_stockpile_gross:downside/basisNoneProcured input cost is reflected in margin; no unsupported floor-price assumption.
/operating_model/cells/downside_2027q3_stockpile_gross:downside/caseNonedownside
/operating_model/cells/downside_2027q3_stockpile_gross:downside/formula/opNonemultiply
/operating_model/cells/downside_2027q3_stockpile_gross:downside/formula/refs/0Nonedownside_2027q3_stockpile_revenue
/operating_model/cells/downside_2027q3_stockpile_gross:downside/formula/refs/1Nonedownside_2027q3_stock_margin
/operating_model/cells/downside_2027q3_stockpile_gross:downside/idNonedownside_2027q3_stockpile_gross
/operating_model/cells/downside_2027q3_stockpile_gross:downside/kindNonederived
/operating_model/cells/downside_2027q3_stockpile_gross:downside/labelNoneStockpile gross contribution
/operating_model/cells/downside_2027q3_stockpile_gross:downside/periodNone2027Q3
/operating_model/cells/downside_2027q3_stockpile_gross:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q3_stockpile_gross:downside/valueNone0.6
/operating_model/cells/downside_2027q3_stockpile_revenue:downside/basisNoneSupply-qualified delivery assumption, not pro-rata recognition of the contract ceiling or minimum.
/operating_model/cells/downside_2027q3_stockpile_revenue:downside/caseNonedownside
/operating_model/cells/downside_2027q3_stockpile_revenue:downside/idNonedownside_2027q3_stockpile_revenue
/operating_model/cells/downside_2027q3_stockpile_revenue:downside/kindNoneassumption
/operating_model/cells/downside_2027q3_stockpile_revenue:downside/labelNoneAccepted incremental stockpile deliveries
/operating_model/cells/downside_2027q3_stockpile_revenue:downside/periodNone2027Q3
/operating_model/cells/downside_2027q3_stockpile_revenue:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q3_stockpile_revenue:downside/valueNone5.0
/operating_model/cells/downside_2027q3_strategic_cash:downside/basisNonePrepaid input consumption cash credits avoid charging both historical prepayment and subsequent COGS cash without adjustment.
/operating_model/cells/downside_2027q3_strategic_cash:downside/caseNonedownside
/operating_model/cells/downside_2027q3_strategic_cash:downside/formula/opNonesum
/operating_model/cells/downside_2027q3_strategic_cash:downside/formula/refs/0Nonedownside_2027q3_blue_moon
/operating_model/cells/downside_2027q3_strategic_cash:downside/formula/refs/1Nonedownside_2027q3_raw_prepay
/operating_model/cells/downside_2027q3_strategic_cash:downside/formula/refs/2Nonedownside_2027q3_german_price
/operating_model/cells/downside_2027q3_strategic_cash:downside/idNonedownside_2027q3_strategic_cash
/operating_model/cells/downside_2027q3_strategic_cash:downside/kindNonederived
/operating_model/cells/downside_2027q3_strategic_cash:downside/labelNoneMinority prepayment and acquisition cash
/operating_model/cells/downside_2027q3_strategic_cash:downside/periodNone2027Q3
/operating_model/cells/downside_2027q3_strategic_cash:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q3_strategic_cash:downside/valueNone-2.0
/operating_model/cells/downside_2027q4_blue_moon:downside/basisNoneNo consolidated Blue Moon sales or market-value gains.
/operating_model/cells/downside_2027q4_blue_moon:downside/caseNonedownside
/operating_model/cells/downside_2027q4_blue_moon:downside/formula/opNonemultiply
/operating_model/cells/downside_2027q4_blue_moon:downside/formula/refs/0Nonedownside_2027q4_cad_commitment
/operating_model/cells/downside_2027q4_blue_moon:downside/formula/refs/1Nonedownside_2027q4_cad_usd
/operating_model/cells/downside_2027q4_blue_moon:downside/idNonedownside_2027q4_blue_moon
/operating_model/cells/downside_2027q4_blue_moon:downside/kindNonederived
/operating_model/cells/downside_2027q4_blue_moon:downside/labelNoneBlue Moon minority investment cash
/operating_model/cells/downside_2027q4_blue_moon:downside/periodNone2027Q4
/operating_model/cells/downside_2027q4_blue_moon:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q4_blue_moon:downside/valueNone0.0
/operating_model/cells/downside_2027q4_business_investment:downside/basisNoneNo initial government receipt netted into capex.
/operating_model/cells/downside_2027q4_business_investment:downside/caseNonedownside
/operating_model/cells/downside_2027q4_business_investment:downside/formula/opNonesum
/operating_model/cells/downside_2027q4_business_investment:downside/formula/refs/0Nonedownside_2027q4_capex
/operating_model/cells/downside_2027q4_business_investment:downside/formula/refs/1Nonedownside_2027q4_strategic_cash
/operating_model/cells/downside_2027q4_business_investment:downside/idNonedownside_2027q4_business_investment
/operating_model/cells/downside_2027q4_business_investment:downside/kindNonederived
/operating_model/cells/downside_2027q4_business_investment:downside/labelNonePP&E and strategic deployment
/operating_model/cells/downside_2027q4_business_investment:downside/periodNone2027Q4
/operating_model/cells/downside_2027q4_business_investment:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q4_business_investment:downside/valueNone58.0
/operating_model/cells/downside_2027q4_cad_commitment:downside/basisNoneBinding 3.5M-unit commitment at CAD10, within 45 days of September 14; expected in Q4 fiscal 2026.
/operating_model/cells/downside_2027q4_cad_commitment:downside/caseNonedownside
/operating_model/cells/downside_2027q4_cad_commitment:downside/idNonedownside_2027q4_cad_commitment
/operating_model/cells/downside_2027q4_cad_commitment:downside/kindNoneassumption
/operating_model/cells/downside_2027q4_cad_commitment:downside/labelNoneCAD35M investment at 1:1 before FX
/operating_model/cells/downside_2027q4_cad_commitment:downside/periodNone2027Q4
/operating_model/cells/downside_2027q4_cad_commitment:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q4_cad_commitment:downside/valueNone0.0
/operating_model/cells/downside_2027q4_cad_usd:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q4_cad_usd:downside/caseNonedownside
/operating_model/cells/downside_2027q4_cad_usd:downside/idNonedownside_2027q4_cad_usd
/operating_model/cells/downside_2027q4_cad_usd:downside/kindNoneassumption
/operating_model/cells/downside_2027q4_cad_usd:downside/labelNoneUSD per CAD assumption
/operating_model/cells/downside_2027q4_cad_usd:downside/periodNone2027Q4
/operating_model/cells/downside_2027q4_cad_usd:downside/unitNoneratio
/operating_model/cells/downside_2027q4_cad_usd:downside/valueNone0.73
/operating_model/cells/downside_2027q4_capex:downside/basisNoneConsolidated external investment includes domestic expansion and controlled JV plant; internal capital contributions are not counted again.
/operating_model/cells/downside_2027q4_capex:downside/caseNonedownside
/operating_model/cells/downside_2027q4_capex:downside/idNonedownside_2027q4_capex
/operating_model/cells/downside_2027q4_capex:downside/kindNoneassumption
/operating_model/cells/downside_2027q4_capex:downside/labelNoneExternal PP&E domestic and controlled-JV cash
/operating_model/cells/downside_2027q4_capex:downside/periodNone2027Q4
/operating_model/cells/downside_2027q4_capex:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q4_capex:downside/valueNone60.0
/operating_model/cells/downside_2027q4_cash_after_funding:downside/basisNonePeriod flow only; no claim that preferred cash is freely distributable.
/operating_model/cells/downside_2027q4_cash_after_funding:downside/caseNonedownside
/operating_model/cells/downside_2027q4_cash_after_funding:downside/formula/opNonesum
/operating_model/cells/downside_2027q4_cash_after_funding:downside/formula/refs/0Nonedownside_2027q4_cash_after_investing
/operating_model/cells/downside_2027q4_cash_after_funding:downside/formula/refs/1Nonedownside_2027q4_preferred_funding
/operating_model/cells/downside_2027q4_cash_after_funding:downside/idNonedownside_2027q4_cash_after_funding
/operating_model/cells/downside_2027q4_cash_after_funding:downside/kindNonederived
/operating_model/cells/downside_2027q4_cash_after_funding:downside/labelNoneCash after preferred financing
/operating_model/cells/downside_2027q4_cash_after_funding:downside/periodNone2027Q4
/operating_model/cells/downside_2027q4_cash_after_funding:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q4_cash_after_funding:downside/valueNone-102.8787936
/operating_model/cells/downside_2027q4_cash_after_investing:downside/basisNoneBefore preferred funding and other capital allocation.
/operating_model/cells/downside_2027q4_cash_after_investing:downside/caseNonedownside
/operating_model/cells/downside_2027q4_cash_after_investing:downside/formula/opNonesubtract
/operating_model/cells/downside_2027q4_cash_after_investing:downside/formula/refs/0Nonedownside_2027q4_cfo
/operating_model/cells/downside_2027q4_cash_after_investing:downside/formula/refs/1Nonedownside_2027q4_business_investment
/operating_model/cells/downside_2027q4_cash_after_investing:downside/idNonedownside_2027q4_cash_after_investing
/operating_model/cells/downside_2027q4_cash_after_investing:downside/kindNonederived
/operating_model/cells/downside_2027q4_cash_after_investing:downside/labelNoneCash after business investing
/operating_model/cells/downside_2027q4_cash_after_investing:downside/periodNone2027Q4
/operating_model/cells/downside_2027q4_cash_after_investing:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q4_cash_after_investing:downside/valueNone-102.8787936
/operating_model/cells/downside_2027q4_cash_bonus:downside/basisNoneMaximum September award shown as a Q2 2027 cash/expense sensitivity, conditional on employment and measurement criteria; not SBC.
/operating_model/cells/downside_2027q4_cash_bonus:downside/caseNonedownside
/operating_model/cells/downside_2027q4_cash_bonus:downside/idNonedownside_2027q4_cash_bonus
/operating_model/cells/downside_2027q4_cash_bonus:downside/kindNoneassumption
/operating_model/cells/downside_2027q4_cash_bonus:downside/labelNonePerformance cash-bonus allowance
/operating_model/cells/downside_2027q4_cash_bonus:downside/periodNone2027Q4
/operating_model/cells/downside_2027q4_cash_bonus:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q4_cash_bonus:downside/valueNone0.0
/operating_model/cells/downside_2027q4_cash_interest:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q4_cash_interest:downside/caseNonedownside
/operating_model/cells/downside_2027q4_cash_interest:downside/idNonedownside_2027q4_cash_interest
/operating_model/cells/downside_2027q4_cash_interest:downside/kindNoneassumption
/operating_model/cells/downside_2027q4_cash_interest:downside/labelNoneCash debt interest
/operating_model/cells/downside_2027q4_cash_interest:downside/periodNone2027Q4
/operating_model/cells/downside_2027q4_cash_interest:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q4_cash_interest:downside/valueNone0.2
/operating_model/cells/downside_2027q4_cash_interest_income:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q4_cash_interest_income:downside/caseNonedownside
/operating_model/cells/downside_2027q4_cash_interest_income:downside/idNonedownside_2027q4_cash_interest_income
/operating_model/cells/downside_2027q4_cash_interest_income:downside/kindNoneassumption
/operating_model/cells/downside_2027q4_cash_interest_income:downside/labelNoneCash interest income
/operating_model/cells/downside_2027q4_cash_interest_income:downside/periodNone2027Q4
/operating_model/cells/downside_2027q4_cash_interest_income:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q4_cash_interest_income:downside/valueNone2.0
/operating_model/cells/downside_2027q4_cash_opex:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q4_cash_opex:downside/caseNonedownside
/operating_model/cells/downside_2027q4_cash_opex:downside/idNonedownside_2027q4_cash_opex
/operating_model/cells/downside_2027q4_cash_opex:downside/kindNoneassumption
/operating_model/cells/downside_2027q4_cash_opex:downside/labelNoneCash corporate R&D and selling expense
/operating_model/cells/downside_2027q4_cash_opex:downside/periodNone2027Q4
/operating_model/cells/downside_2027q4_cash_opex:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q4_cash_opex:downside/valueNone21.0
/operating_model/cells/downside_2027q4_cash_tax:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q4_cash_tax:downside/caseNonedownside
/operating_model/cells/downside_2027q4_cash_tax:downside/idNonedownside_2027q4_cash_tax
/operating_model/cells/downside_2027q4_cash_tax:downside/kindNoneassumption
/operating_model/cells/downside_2027q4_cash_tax:downside/labelNoneCash tax
/operating_model/cells/downside_2027q4_cash_tax:downside/periodNone2027Q4
/operating_model/cells/downside_2027q4_cash_tax:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q4_cash_tax:downside/valueNone4.5
/operating_model/cells/downside_2027q4_cash_uses:downside/basisNoneProject input prepayments are shown separately in strategic cash.
/operating_model/cells/downside_2027q4_cash_uses:downside/caseNonedownside
/operating_model/cells/downside_2027q4_cash_uses:downside/formula/opNonesum
/operating_model/cells/downside_2027q4_cash_uses:downside/formula/refs/0Nonedownside_2027q4_cash_tax
/operating_model/cells/downside_2027q4_cash_uses:downside/formula/refs/1Nonedownside_2027q4_cash_interest
/operating_model/cells/downside_2027q4_cash_uses:downside/formula/refs/2Nonedownside_2027q4_inventory_other_cash
/operating_model/cells/downside_2027q4_cash_uses:downside/formula/refs/3Nonedownside_2027q4_pass_inventory_cash
/operating_model/cells/downside_2027q4_cash_uses:downside/idNonedownside_2027q4_cash_uses
/operating_model/cells/downside_2027q4_cash_uses:downside/kindNonederived
/operating_model/cells/downside_2027q4_cash_uses:downside/labelNoneTax interest and working capital
/operating_model/cells/downside_2027q4_cash_uses:downside/periodNone2027Q4
/operating_model/cells/downside_2027q4_cash_uses:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q4_cash_uses:downside/valueNone44.7
/operating_model/cells/downside_2027q4_cfo:downside/basisNoneNo current-period preferred cash dividend.
/operating_model/cells/downside_2027q4_cfo:downside/caseNonedownside
/operating_model/cells/downside_2027q4_cfo:downside/formula/opNonesubtract
/operating_model/cells/downside_2027q4_cfo:downside/formula/refs/0Nonedownside_2027q4_operating_cash_earnings
/operating_model/cells/downside_2027q4_cfo:downside/formula/refs/1Nonedownside_2027q4_cash_uses
/operating_model/cells/downside_2027q4_cfo:downside/idNonedownside_2027q4_cfo
/operating_model/cells/downside_2027q4_cfo:downside/kindNonederived
/operating_model/cells/downside_2027q4_cfo:downside/labelNoneOperating cash flow proxy
/operating_model/cells/downside_2027q4_cfo:downside/periodNone2027Q4
/operating_model/cells/downside_2027q4_cfo:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q4_cfo:downside/valueNone-44.878793599999995
/operating_model/cells/downside_2027q4_core_margin:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q4_core_margin:downside/caseNonedownside
/operating_model/cells/downside_2027q4_core_margin:downside/idNonedownside_2027q4_core_margin
/operating_model/cells/downside_2027q4_core_margin:downside/kindNoneassumption
/operating_model/cells/downside_2027q4_core_margin:downside/labelNoneCore gross margin
/operating_model/cells/downside_2027q4_core_margin:downside/periodNone2027Q4
/operating_model/cells/downside_2027q4_core_margin:downside/unitNoneratio
/operating_model/cells/downside_2027q4_core_margin:downside/valueNone0.22
/operating_model/cells/downside_2027q4_core_revenue:downside/basisNoneCurrent manufacturing and conditional acquired operations; stockpile is separate.
/operating_model/cells/downside_2027q4_core_revenue:downside/caseNonedownside
/operating_model/cells/downside_2027q4_core_revenue:downside/formula/opNonesum
/operating_model/cells/downside_2027q4_core_revenue:downside/formula/refs/0Nonedownside_2027q4_legacy_demand
/operating_model/cells/downside_2027q4_core_revenue:downside/formula/refs/1Nonedownside_2027q4_metal_pass
/operating_model/cells/downside_2027q4_core_revenue:downside/formula/refs/2Nonedownside_2027q4_german_revenue
/operating_model/cells/downside_2027q4_core_revenue:downside/idNonedownside_2027q4_core_revenue
/operating_model/cells/downside_2027q4_core_revenue:downside/kindNonederived
/operating_model/cells/downside_2027q4_core_revenue:downside/labelNoneCore and acquired revenue
/operating_model/cells/downside_2027q4_core_revenue:downside/periodNone2027Q4
/operating_model/cells/downside_2027q4_core_revenue:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q4_core_revenue:downside/valueNone89.36912000000001
/operating_model/cells/downside_2027q4_da:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q4_da:downside/caseNonedownside
/operating_model/cells/downside_2027q4_da:downside/idNonedownside_2027q4_da
/operating_model/cells/downside_2027q4_da:downside/kindNoneassumption
/operating_model/cells/downside_2027q4_da:downside/labelNoneOperating D&A
/operating_model/cells/downside_2027q4_da:downside/periodNone2027Q4
/operating_model/cells/downside_2027q4_da:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q4_da:downside/valueNone4.5
/operating_model/cells/downside_2027q4_demand_index:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q4_demand_index:downside/caseNonedownside
/operating_model/cells/downside_2027q4_demand_index:downside/idNonedownside_2027q4_demand_index
/operating_model/cells/downside_2027q4_demand_index:downside/kindNoneassumption
/operating_model/cells/downside_2027q4_demand_index:downside/labelNoneNet volume and mix versus Q2
/operating_model/cells/downside_2027q4_demand_index:downside/periodNone2027Q4
/operating_model/cells/downside_2027q4_demand_index:downside/unitNoneratio
/operating_model/cells/downside_2027q4_demand_index:downside/valueNone1.12
/operating_model/cells/downside_2027q4_eur_usd:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q4_eur_usd:downside/caseNonedownside
/operating_model/cells/downside_2027q4_eur_usd:downside/idNonedownside_2027q4_eur_usd
/operating_model/cells/downside_2027q4_eur_usd:downside/kindNoneassumption
/operating_model/cells/downside_2027q4_eur_usd:downside/labelNoneUSD per EUR conversion
/operating_model/cells/downside_2027q4_eur_usd:downside/periodNone2027Q4
/operating_model/cells/downside_2027q4_eur_usd:downside/unitNoneratio
/operating_model/cells/downside_2027q4_eur_usd:downside/valueNone1.15
/operating_model/cells/downside_2027q4_funding_weight:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q4_funding_weight:downside/caseNonedownside
/operating_model/cells/downside_2027q4_funding_weight:downside/idNonedownside_2027q4_funding_weight
/operating_model/cells/downside_2027q4_funding_weight:downside/kindNoneassumption
/operating_model/cells/downside_2027q4_funding_weight:downside/labelNoneNew funding quarter weight
/operating_model/cells/downside_2027q4_funding_weight:downside/periodNone2027Q4
/operating_model/cells/downside_2027q4_funding_weight:downside/unitNoneratio
/operating_model/cells/downside_2027q4_funding_weight:downside/valueNone0.25
/operating_model/cells/downside_2027q4_german_eur_amount:downside/basisNoneDesk working capital and net pension assumptions in contractual price formula; signed amount can be negative.
/operating_model/cells/downside_2027q4_german_eur_amount:downside/caseNonedownside
/operating_model/cells/downside_2027q4_german_eur_amount:downside/idNonedownside_2027q4_german_eur_amount
/operating_model/cells/downside_2027q4_german_eur_amount:downside/kindNoneassumption
/operating_model/cells/downside_2027q4_german_eur_amount:downside/labelNoneGerman net price sensitivity, EUR millions represented at 1:1 before FX
/operating_model/cells/downside_2027q4_german_eur_amount:downside/periodNone2027Q4
/operating_model/cells/downside_2027q4_german_eur_amount:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q4_german_eur_amount:downside/valueNone0.0
/operating_model/cells/downside_2027q4_german_gross:downside/basisNoneUnverified post-close margin.
/operating_model/cells/downside_2027q4_german_gross:downside/caseNonedownside
/operating_model/cells/downside_2027q4_german_gross:downside/formula/opNonemultiply
/operating_model/cells/downside_2027q4_german_gross:downside/formula/refs/0Nonedownside_2027q4_german_revenue
/operating_model/cells/downside_2027q4_german_gross:downside/formula/refs/1Nonedownside_2027q4_german_margin
/operating_model/cells/downside_2027q4_german_gross:downside/idNonedownside_2027q4_german_gross
/operating_model/cells/downside_2027q4_german_gross:downside/kindNonederived
/operating_model/cells/downside_2027q4_german_gross:downside/labelNoneGerman gross contribution
/operating_model/cells/downside_2027q4_german_gross:downside/periodNone2027Q4
/operating_model/cells/downside_2027q4_german_gross:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q4_german_gross:downside/valueNone1.26
/operating_model/cells/downside_2027q4_german_margin:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q4_german_margin:downside/caseNonedownside
/operating_model/cells/downside_2027q4_german_margin:downside/idNonedownside_2027q4_german_margin
/operating_model/cells/downside_2027q4_german_margin:downside/kindNoneassumption
/operating_model/cells/downside_2027q4_german_margin:downside/labelNoneAcquired gross margin
/operating_model/cells/downside_2027q4_german_margin:downside/periodNone2027Q4
/operating_model/cells/downside_2027q4_german_margin:downside/unitNoneratio
/operating_model/cells/downside_2027q4_german_margin:downside/valueNone0.18
/operating_model/cells/downside_2027q4_german_price:downside/basisNoneScenario only; metal inventory and pension measurement can materially change final consideration.
/operating_model/cells/downside_2027q4_german_price:downside/caseNonedownside
/operating_model/cells/downside_2027q4_german_price:downside/formula/opNonemultiply
/operating_model/cells/downside_2027q4_german_price:downside/formula/refs/0Nonedownside_2027q4_german_eur_amount
/operating_model/cells/downside_2027q4_german_price:downside/formula/refs/1Nonedownside_2027q4_eur_usd
/operating_model/cells/downside_2027q4_german_price:downside/idNonedownside_2027q4_german_price
/operating_model/cells/downside_2027q4_german_price:downside/kindNonederived
/operating_model/cells/downside_2027q4_german_price:downside/labelNoneConditional German closing cash in USD
/operating_model/cells/downside_2027q4_german_price:downside/periodNone2027Q4
/operating_model/cells/downside_2027q4_german_price:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q4_german_price:downside/valueNone0.0
/operating_model/cells/downside_2027q4_german_revenue:downside/basisNoneDesk acquired-period contribution only after assumed closing; transaction remains conditional.
/operating_model/cells/downside_2027q4_german_revenue:downside/caseNonedownside
/operating_model/cells/downside_2027q4_german_revenue:downside/idNonedownside_2027q4_german_revenue
/operating_model/cells/downside_2027q4_german_revenue:downside/kindNoneassumption
/operating_model/cells/downside_2027q4_german_revenue:downside/labelNoneConditional acquired German revenue
/operating_model/cells/downside_2027q4_german_revenue:downside/periodNone2027Q4
/operating_model/cells/downside_2027q4_german_revenue:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q4_german_revenue:downside/valueNone7.0
/operating_model/cells/downside_2027q4_gross_profit:downside/basisNoneCompany forecasts are not supplied for the new program.
/operating_model/cells/downside_2027q4_gross_profit:downside/caseNonedownside
/operating_model/cells/downside_2027q4_gross_profit:downside/formula/opNonesum
/operating_model/cells/downside_2027q4_gross_profit:downside/formula/refs/0Nonedownside_2027q4_legacy_gross
/operating_model/cells/downside_2027q4_gross_profit:downside/formula/refs/1Nonedownside_2027q4_price_gross
/operating_model/cells/downside_2027q4_gross_profit:downside/formula/refs/2Nonedownside_2027q4_german_gross
/operating_model/cells/downside_2027q4_gross_profit:downside/formula/refs/3Nonedownside_2027q4_stockpile_gross
/operating_model/cells/downside_2027q4_gross_profit:downside/idNonedownside_2027q4_gross_profit
/operating_model/cells/downside_2027q4_gross_profit:downside/kindNonederived
/operating_model/cells/downside_2027q4_gross_profit:downside/labelNoneGross profit proxy
/operating_model/cells/downside_2027q4_gross_profit:downside/periodNone2027Q4
/operating_model/cells/downside_2027q4_gross_profit:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q4_gross_profit:downside/valueNone18.821206400000005
/operating_model/cells/downside_2027q4_inventory_other_cash:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q4_inventory_other_cash:downside/caseNonedownside
/operating_model/cells/downside_2027q4_inventory_other_cash:downside/idNonedownside_2027q4_inventory_other_cash
/operating_model/cells/downside_2027q4_inventory_other_cash:downside/kindNoneassumption
/operating_model/cells/downside_2027q4_inventory_other_cash:downside/labelNoneInventory and other working-capital use
/operating_model/cells/downside_2027q4_inventory_other_cash:downside/periodNone2027Q4
/operating_model/cells/downside_2027q4_inventory_other_cash:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q4_inventory_other_cash:downside/valueNone36.0
/operating_model/cells/downside_2027q4_inventory_price_fraction:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q4_inventory_price_fraction:downside/caseNonedownside
/operating_model/cells/downside_2027q4_inventory_price_fraction:downside/idNonedownside_2027q4_inventory_price_fraction
/operating_model/cells/downside_2027q4_inventory_price_fraction:downside/kindNoneassumption
/operating_model/cells/downside_2027q4_inventory_price_fraction:downside/labelNonePrice-related inventory funding share
/operating_model/cells/downside_2027q4_inventory_price_fraction:downside/periodNone2027Q4
/operating_model/cells/downside_2027q4_inventory_price_fraction:downside/unitNoneratio
/operating_model/cells/downside_2027q4_inventory_price_fraction:downside/valueNone0.5
/operating_model/cells/downside_2027q4_legacy_demand:downside/basisNoneDemand separated from incremental metal-price pass-through.
/operating_model/cells/downside_2027q4_legacy_demand:downside/caseNonedownside
/operating_model/cells/downside_2027q4_legacy_demand:downside/formula/opNonemultiply
/operating_model/cells/downside_2027q4_legacy_demand:downside/formula/refs/0Noneq2_revenue
/operating_model/cells/downside_2027q4_legacy_demand:downside/formula/refs/1Nonedownside_2027q4_demand_index
/operating_model/cells/downside_2027q4_legacy_demand:downside/idNonedownside_2027q4_legacy_demand
/operating_model/cells/downside_2027q4_legacy_demand:downside/kindNonederived
/operating_model/cells/downside_2027q4_legacy_demand:downside/labelNoneLegacy revenue at reference metal prices
/operating_model/cells/downside_2027q4_legacy_demand:downside/periodNone2027Q4
/operating_model/cells/downside_2027q4_legacy_demand:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q4_legacy_demand:downside/valueNone74.36912000000001
/operating_model/cells/downside_2027q4_legacy_gross:downside/basisNoneIndependent operating-margin scenario.
/operating_model/cells/downside_2027q4_legacy_gross:downside/caseNonedownside
/operating_model/cells/downside_2027q4_legacy_gross:downside/formula/opNonemultiply
/operating_model/cells/downside_2027q4_legacy_gross:downside/formula/refs/0Nonedownside_2027q4_legacy_demand
/operating_model/cells/downside_2027q4_legacy_gross:downside/formula/refs/1Nonedownside_2027q4_core_margin
/operating_model/cells/downside_2027q4_legacy_gross:downside/idNonedownside_2027q4_legacy_gross
/operating_model/cells/downside_2027q4_legacy_gross:downside/kindNonederived
/operating_model/cells/downside_2027q4_legacy_gross:downside/labelNoneLegacy gross profit
/operating_model/cells/downside_2027q4_legacy_gross:downside/periodNone2027Q4
/operating_model/cells/downside_2027q4_legacy_gross:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q4_legacy_gross:downside/valueNone16.361206400000004
/operating_model/cells/downside_2027q4_metal_cost:downside/basisNoneAt 100% pass-through, higher commodity prices do not create gross profit.
/operating_model/cells/downside_2027q4_metal_cost:downside/caseNonedownside
/operating_model/cells/downside_2027q4_metal_cost:downside/formula/opNonemultiply
/operating_model/cells/downside_2027q4_metal_cost:downside/formula/refs/0Nonedownside_2027q4_metal_pass
/operating_model/cells/downside_2027q4_metal_cost:downside/formula/refs/1Nonedownside_2027q4_pass_cost_ratio
/operating_model/cells/downside_2027q4_metal_cost:downside/idNonedownside_2027q4_metal_cost
/operating_model/cells/downside_2027q4_metal_cost:downside/kindNonederived
/operating_model/cells/downside_2027q4_metal_cost:downside/labelNoneMatched input price cost
/operating_model/cells/downside_2027q4_metal_cost:downside/periodNone2027Q4
/operating_model/cells/downside_2027q4_metal_cost:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q4_metal_cost:downside/valueNone8.0
/operating_model/cells/downside_2027q4_metal_pass:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q4_metal_pass:downside/caseNonedownside
/operating_model/cells/downside_2027q4_metal_pass:downside/idNonedownside_2027q4_metal_pass
/operating_model/cells/downside_2027q4_metal_pass:downside/kindNoneassumption
/operating_model/cells/downside_2027q4_metal_pass:downside/labelNoneIncremental raw-material price pass-through
/operating_model/cells/downside_2027q4_metal_pass:downside/periodNone2027Q4
/operating_model/cells/downside_2027q4_metal_pass:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q4_metal_pass:downside/valueNone8.0
/operating_model/cells/downside_2027q4_new_pik_basis:downside/basisNoneInitial 19-day approximate accrual; later tranches assumed late-quarter.
/operating_model/cells/downside_2027q4_new_pik_basis:downside/caseNonedownside
/operating_model/cells/downside_2027q4_new_pik_basis:downside/formula/opNonemultiply
/operating_model/cells/downside_2027q4_new_pik_basis:downside/formula/refs/0Nonedownside_2027q4_preferred_funding
/operating_model/cells/downside_2027q4_new_pik_basis:downside/formula/refs/1Nonedownside_2027q4_funding_weight
/operating_model/cells/downside_2027q4_new_pik_basis:downside/idNonedownside_2027q4_new_pik_basis
/operating_model/cells/downside_2027q4_new_pik_basis:downside/kindNonederived
/operating_model/cells/downside_2027q4_new_pik_basis:downside/labelNoneNew funding weighted for partial quarter
/operating_model/cells/downside_2027q4_new_pik_basis:downside/periodNone2027Q4
/operating_model/cells/downside_2027q4_new_pik_basis:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q4_new_pik_basis:downside/valueNone0.0
/operating_model/cells/downside_2027q4_operating_cash_earnings:downside/basisNoneNo debt forgiveness or financing gain.
/operating_model/cells/downside_2027q4_operating_cash_earnings:downside/caseNonedownside
/operating_model/cells/downside_2027q4_operating_cash_earnings:downside/formula/opNonesum
/operating_model/cells/downside_2027q4_operating_cash_earnings:downside/formula/refs/0Nonedownside_2027q4_operating_income
/operating_model/cells/downside_2027q4_operating_cash_earnings:downside/formula/refs/1Nonedownside_2027q4_sbc
/operating_model/cells/downside_2027q4_operating_cash_earnings:downside/formula/refs/2Nonedownside_2027q4_da
/operating_model/cells/downside_2027q4_operating_cash_earnings:downside/formula/refs/3Nonedownside_2027q4_cash_interest_income
/operating_model/cells/downside_2027q4_operating_cash_earnings:downside/idNonedownside_2027q4_operating_cash_earnings
/operating_model/cells/downside_2027q4_operating_cash_earnings:downside/kindNonederived
/operating_model/cells/downside_2027q4_operating_cash_earnings:downside/labelNoneOperating earnings plus noncash and interest
/operating_model/cells/downside_2027q4_operating_cash_earnings:downside/periodNone2027Q4
/operating_model/cells/downside_2027q4_operating_cash_earnings:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q4_operating_cash_earnings:downside/valueNone-0.17879359999999522
/operating_model/cells/downside_2027q4_operating_income:downside/basisNonePreferred PIK is below operating economics, not operating expense.
/operating_model/cells/downside_2027q4_operating_income:downside/caseNonedownside
/operating_model/cells/downside_2027q4_operating_income:downside/formula/opNonesubtract
/operating_model/cells/downside_2027q4_operating_income:downside/formula/refs/0Nonedownside_2027q4_gross_profit
/operating_model/cells/downside_2027q4_operating_income:downside/formula/refs/1Nonedownside_2027q4_opex
/operating_model/cells/downside_2027q4_operating_income:downside/idNonedownside_2027q4_operating_income
/operating_model/cells/downside_2027q4_operating_income:downside/kindNonederived
/operating_model/cells/downside_2027q4_operating_income:downside/labelNoneOperating income proxy
/operating_model/cells/downside_2027q4_operating_income:downside/periodNone2027Q4
/operating_model/cells/downside_2027q4_operating_income:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q4_operating_income:downside/valueNone-9.678793599999995
/operating_model/cells/downside_2027q4_opex:downside/basisNoneNo repeat of H1 IPO SBC as if recurring every quarter.
/operating_model/cells/downside_2027q4_opex:downside/caseNonedownside
/operating_model/cells/downside_2027q4_opex:downside/formula/opNonesum
/operating_model/cells/downside_2027q4_opex:downside/formula/refs/0Nonedownside_2027q4_cash_opex
/operating_model/cells/downside_2027q4_opex:downside/formula/refs/1Nonedownside_2027q4_sbc
/operating_model/cells/downside_2027q4_opex:downside/formula/refs/2Nonedownside_2027q4_da
/operating_model/cells/downside_2027q4_opex:downside/formula/refs/3Nonedownside_2027q4_cash_bonus
/operating_model/cells/downside_2027q4_opex:downside/idNonedownside_2027q4_opex
/operating_model/cells/downside_2027q4_opex:downside/kindNonederived
/operating_model/cells/downside_2027q4_opex:downside/labelNoneCash overhead SBC and D&A
/operating_model/cells/downside_2027q4_opex:downside/periodNone2027Q4
/operating_model/cells/downside_2027q4_opex:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q4_opex:downside/valueNone28.5
/operating_model/cells/downside_2027q4_pass_cost_ratio:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q4_pass_cost_ratio:downside/caseNonedownside
/operating_model/cells/downside_2027q4_pass_cost_ratio:downside/idNonedownside_2027q4_pass_cost_ratio
/operating_model/cells/downside_2027q4_pass_cost_ratio:downside/kindNoneassumption
/operating_model/cells/downside_2027q4_pass_cost_ratio:downside/labelNoneInput-cost share of pass-through
/operating_model/cells/downside_2027q4_pass_cost_ratio:downside/periodNone2027Q4
/operating_model/cells/downside_2027q4_pass_cost_ratio:downside/unitNoneratio
/operating_model/cells/downside_2027q4_pass_cost_ratio:downside/valueNone1.0
/operating_model/cells/downside_2027q4_pass_inventory_cash:downside/basisNoneCommodity inflation can tie up cash despite matched gross profit.
/operating_model/cells/downside_2027q4_pass_inventory_cash:downside/caseNonedownside
/operating_model/cells/downside_2027q4_pass_inventory_cash:downside/formula/opNonemultiply
/operating_model/cells/downside_2027q4_pass_inventory_cash:downside/formula/refs/0Nonedownside_2027q4_metal_pass
/operating_model/cells/downside_2027q4_pass_inventory_cash:downside/formula/refs/1Nonedownside_2027q4_inventory_price_fraction
/operating_model/cells/downside_2027q4_pass_inventory_cash:downside/idNonedownside_2027q4_pass_inventory_cash
/operating_model/cells/downside_2027q4_pass_inventory_cash:downside/kindNonederived
/operating_model/cells/downside_2027q4_pass_inventory_cash:downside/labelNoneAdditional price-related inventory funding
/operating_model/cells/downside_2027q4_pass_inventory_cash:downside/periodNone2027Q4
/operating_model/cells/downside_2027q4_pass_inventory_cash:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q4_pass_inventory_cash:downside/valueNone4.0
/operating_model/cells/downside_2027q4_pik_basis:downside/basisNoneExisting balance includes prior PIK compounding.
/operating_model/cells/downside_2027q4_pik_basis:downside/caseNonedownside
/operating_model/cells/downside_2027q4_pik_basis:downside/formula/opNonesum
/operating_model/cells/downside_2027q4_pik_basis:downside/formula/refs/0Nonedownside_2027q3_preferred_ending
/operating_model/cells/downside_2027q4_pik_basis:downside/formula/refs/1Nonedownside_2027q4_new_pik_basis
/operating_model/cells/downside_2027q4_pik_basis:downside/idNonedownside_2027q4_pik_basis
/operating_model/cells/downside_2027q4_pik_basis:downside/kindNonederived
/operating_model/cells/downside_2027q4_pik_basis:downside/labelNoneWeighted preferred claim for PIK
/operating_model/cells/downside_2027q4_pik_basis:downside/periodNone2027Q4
/operating_model/cells/downside_2027q4_pik_basis:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q4_pik_basis:downside/valueNone211.83537465268697
/operating_model/cells/downside_2027q4_preferred_ending:downside/basisNoneStock balance, not an annual flow; ignores warrant-linked liquidation preference reductions.
/operating_model/cells/downside_2027q4_preferred_ending:downside/caseNonedownside
/operating_model/cells/downside_2027q4_preferred_ending:downside/formula/opNonesum
/operating_model/cells/downside_2027q4_preferred_ending:downside/formula/refs/0Nonedownside_2027q3_preferred_ending
/operating_model/cells/downside_2027q4_preferred_ending:downside/formula/refs/1Nonedownside_2027q4_preferred_funding
/operating_model/cells/downside_2027q4_preferred_ending:downside/formula/refs/2Nonedownside_2027q4_preferred_pik
/operating_model/cells/downside_2027q4_preferred_ending:downside/idNonedownside_2027q4_preferred_ending
/operating_model/cells/downside_2027q4_preferred_ending:downside/kindNonederived
/operating_model/cells/downside_2027q4_preferred_ending:downside/labelNoneEnding preferred claim before warrant adjustments
/operating_model/cells/downside_2027q4_preferred_ending:downside/periodNone2027Q4
/operating_model/cells/downside_2027q4_preferred_ending:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q4_preferred_ending:downside/valueNone214.7481110541614
/operating_model/cells/downside_2027q4_preferred_funding:downside/basisNoneInitial $200M received September 14; any later $50M receipt is conditional and respects six-month tranche availability.
/operating_model/cells/downside_2027q4_preferred_funding:downside/caseNonedownside
/operating_model/cells/downside_2027q4_preferred_funding:downside/idNonedownside_2027q4_preferred_funding
/operating_model/cells/downside_2027q4_preferred_funding:downside/kindNoneassumption
/operating_model/cells/downside_2027q4_preferred_funding:downside/labelNonePreferred financing receipts
/operating_model/cells/downside_2027q4_preferred_funding:downside/periodNone2027Q4
/operating_model/cells/downside_2027q4_preferred_funding:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q4_preferred_funding:downside/valueNone0.0
/operating_model/cells/downside_2027q4_preferred_pik:downside/basisNoneNoncash senior claim; no deduction from current-period cash.
/operating_model/cells/downside_2027q4_preferred_pik:downside/caseNonedownside
/operating_model/cells/downside_2027q4_preferred_pik:downside/formula/opNonemultiply
/operating_model/cells/downside_2027q4_preferred_pik:downside/formula/refs/0Nonedownside_2027q4_pik_basis
/operating_model/cells/downside_2027q4_preferred_pik:downside/formula/refs/1Nonepreferred_rate
/operating_model/cells/downside_2027q4_preferred_pik:downside/formula/refs/2Nonedownside_2027q4_quarter_year
/operating_model/cells/downside_2027q4_preferred_pik:downside/idNonedownside_2027q4_preferred_pik
/operating_model/cells/downside_2027q4_preferred_pik:downside/kindNonederived
/operating_model/cells/downside_2027q4_preferred_pik:downside/labelNonePreferred economic PIK accrual
/operating_model/cells/downside_2027q4_preferred_pik:downside/periodNone2027Q4
/operating_model/cells/downside_2027q4_preferred_pik:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q4_preferred_pik:downside/valueNone2.912736401474446
/operating_model/cells/downside_2027q4_price_gross:downside/basisNoneMismatch sensitivity is explicit.
/operating_model/cells/downside_2027q4_price_gross:downside/caseNonedownside
/operating_model/cells/downside_2027q4_price_gross:downside/formula/opNonesubtract
/operating_model/cells/downside_2027q4_price_gross:downside/formula/refs/0Nonedownside_2027q4_metal_pass
/operating_model/cells/downside_2027q4_price_gross:downside/formula/refs/1Nonedownside_2027q4_metal_cost
/operating_model/cells/downside_2027q4_price_gross:downside/idNonedownside_2027q4_price_gross
/operating_model/cells/downside_2027q4_price_gross:downside/kindNonederived
/operating_model/cells/downside_2027q4_price_gross:downside/labelNoneIncremental price pass-through gross profit
/operating_model/cells/downside_2027q4_price_gross:downside/periodNone2027Q4
/operating_model/cells/downside_2027q4_price_gross:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q4_price_gross:downside/valueNone0.0
/operating_model/cells/downside_2027q4_quarter_year:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q4_quarter_year:downside/caseNonedownside
/operating_model/cells/downside_2027q4_quarter_year:downside/idNonedownside_2027q4_quarter_year
/operating_model/cells/downside_2027q4_quarter_year:downside/kindNoneassumption
/operating_model/cells/downside_2027q4_quarter_year:downside/labelNoneQuarter-year fraction
/operating_model/cells/downside_2027q4_quarter_year:downside/periodNone2027Q4
/operating_model/cells/downside_2027q4_quarter_year:downside/unitNoneratio
/operating_model/cells/downside_2027q4_quarter_year:downside/valueNone0.25
/operating_model/cells/downside_2027q4_raw_prepay:downside/basisNoneDesk first and milestone-conditioned second $25M funding; later negative amounts are consumption/settlement credits, not new revenue.
/operating_model/cells/downside_2027q4_raw_prepay:downside/caseNonedownside
/operating_model/cells/downside_2027q4_raw_prepay:downside/idNonedownside_2027q4_raw_prepay
/operating_model/cells/downside_2027q4_raw_prepay:downside/kindNoneassumption
/operating_model/cells/downside_2027q4_raw_prepay:downside/labelNoneNet new raw-material prepayments
/operating_model/cells/downside_2027q4_raw_prepay:downside/periodNone2027Q4
/operating_model/cells/downside_2027q4_raw_prepay:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q4_raw_prepay:downside/valueNone-2.0
/operating_model/cells/downside_2027q4_revenue:downside/basisNoneNo recognition of preferred funding as revenue.
/operating_model/cells/downside_2027q4_revenue:downside/caseNonedownside
/operating_model/cells/downside_2027q4_revenue:downside/formula/opNonesum
/operating_model/cells/downside_2027q4_revenue:downside/formula/refs/0Nonedownside_2027q4_core_revenue
/operating_model/cells/downside_2027q4_revenue:downside/formula/refs/1Nonedownside_2027q4_stockpile_revenue
/operating_model/cells/downside_2027q4_revenue:downside/idNonedownside_2027q4_revenue
/operating_model/cells/downside_2027q4_revenue:downside/kindNonederived
/operating_model/cells/downside_2027q4_revenue:downside/labelNoneTotal revenue
/operating_model/cells/downside_2027q4_revenue:downside/periodNone2027Q4
/operating_model/cells/downside_2027q4_revenue:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q4_revenue:downside/valueNone99.36912000000001
/operating_model/cells/downside_2027q4_sbc:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q4_sbc:downside/caseNonedownside
/operating_model/cells/downside_2027q4_sbc:downside/idNonedownside_2027q4_sbc
/operating_model/cells/downside_2027q4_sbc:downside/kindNoneassumption
/operating_model/cells/downside_2027q4_sbc:downside/labelNoneSBC
/operating_model/cells/downside_2027q4_sbc:downside/periodNone2027Q4
/operating_model/cells/downside_2027q4_sbc:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q4_sbc:downside/valueNone3.0
/operating_model/cells/downside_2027q4_stock_margin:downside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/downside_2027q4_stock_margin:downside/caseNonedownside
/operating_model/cells/downside_2027q4_stock_margin:downside/idNonedownside_2027q4_stock_margin
/operating_model/cells/downside_2027q4_stock_margin:downside/kindNoneassumption
/operating_model/cells/downside_2027q4_stock_margin:downside/labelNoneStockpile gross margin
/operating_model/cells/downside_2027q4_stock_margin:downside/periodNone2027Q4
/operating_model/cells/downside_2027q4_stock_margin:downside/unitNoneratio
/operating_model/cells/downside_2027q4_stock_margin:downside/valueNone0.12
/operating_model/cells/downside_2027q4_stockpile_gross:downside/basisNoneProcured input cost is reflected in margin; no unsupported floor-price assumption.
/operating_model/cells/downside_2027q4_stockpile_gross:downside/caseNonedownside
/operating_model/cells/downside_2027q4_stockpile_gross:downside/formula/opNonemultiply
/operating_model/cells/downside_2027q4_stockpile_gross:downside/formula/refs/0Nonedownside_2027q4_stockpile_revenue
/operating_model/cells/downside_2027q4_stockpile_gross:downside/formula/refs/1Nonedownside_2027q4_stock_margin
/operating_model/cells/downside_2027q4_stockpile_gross:downside/idNonedownside_2027q4_stockpile_gross
/operating_model/cells/downside_2027q4_stockpile_gross:downside/kindNonederived
/operating_model/cells/downside_2027q4_stockpile_gross:downside/labelNoneStockpile gross contribution
/operating_model/cells/downside_2027q4_stockpile_gross:downside/periodNone2027Q4
/operating_model/cells/downside_2027q4_stockpile_gross:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q4_stockpile_gross:downside/valueNone1.2
/operating_model/cells/downside_2027q4_stockpile_revenue:downside/basisNoneSupply-qualified delivery assumption, not pro-rata recognition of the contract ceiling or minimum.
/operating_model/cells/downside_2027q4_stockpile_revenue:downside/caseNonedownside
/operating_model/cells/downside_2027q4_stockpile_revenue:downside/idNonedownside_2027q4_stockpile_revenue
/operating_model/cells/downside_2027q4_stockpile_revenue:downside/kindNoneassumption
/operating_model/cells/downside_2027q4_stockpile_revenue:downside/labelNoneAccepted incremental stockpile deliveries
/operating_model/cells/downside_2027q4_stockpile_revenue:downside/periodNone2027Q4
/operating_model/cells/downside_2027q4_stockpile_revenue:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q4_stockpile_revenue:downside/valueNone10.0
/operating_model/cells/downside_2027q4_strategic_cash:downside/basisNonePrepaid input consumption cash credits avoid charging both historical prepayment and subsequent COGS cash without adjustment.
/operating_model/cells/downside_2027q4_strategic_cash:downside/caseNonedownside
/operating_model/cells/downside_2027q4_strategic_cash:downside/formula/opNonesum
/operating_model/cells/downside_2027q4_strategic_cash:downside/formula/refs/0Nonedownside_2027q4_blue_moon
/operating_model/cells/downside_2027q4_strategic_cash:downside/formula/refs/1Nonedownside_2027q4_raw_prepay
/operating_model/cells/downside_2027q4_strategic_cash:downside/formula/refs/2Nonedownside_2027q4_german_price
/operating_model/cells/downside_2027q4_strategic_cash:downside/idNonedownside_2027q4_strategic_cash
/operating_model/cells/downside_2027q4_strategic_cash:downside/kindNonederived
/operating_model/cells/downside_2027q4_strategic_cash:downside/labelNoneMinority prepayment and acquisition cash
/operating_model/cells/downside_2027q4_strategic_cash:downside/periodNone2027Q4
/operating_model/cells/downside_2027q4_strategic_cash:downside/unitNoneUSD_millions
/operating_model/cells/downside_2027q4_strategic_cash:downside/valueNone-2.0
/operating_model/cells/downside_fy2026_capex:downside/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/downside_fy2026_capex:downside/caseNonedownside
/operating_model/cells/downside_fy2026_capex:downside/formula/opNonesum
/operating_model/cells/downside_fy2026_capex:downside/formula/refs/0Noneh1_capex
/operating_model/cells/downside_fy2026_capex:downside/formula/refs/1Nonedownside_2026q3_capex
/operating_model/cells/downside_fy2026_capex:downside/formula/refs/2Nonedownside_2026q4_capex
/operating_model/cells/downside_fy2026_capex:downside/idNonedownside_fy2026_capex
/operating_model/cells/downside_fy2026_capex:downside/kindNonederived
/operating_model/cells/downside_fy2026_capex:downside/labelNoneNet cash PP&E including controlled JV ($M)
/operating_model/cells/downside_fy2026_capex:downside/periodNoneFY2026
/operating_model/cells/downside_fy2026_capex:downside/unitNoneUSD_millions
/operating_model/cells/downside_fy2026_capex:downside/valueNone48.141
/operating_model/cells/downside_fy2026_cash_after_funding:downside/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/downside_fy2026_cash_after_funding:downside/caseNonedownside
/operating_model/cells/downside_fy2026_cash_after_funding:downside/formula/opNonesum
/operating_model/cells/downside_fy2026_cash_after_funding:downside/formula/refs/0Noneh1_cash_after_funding
/operating_model/cells/downside_fy2026_cash_after_funding:downside/formula/refs/1Nonedownside_2026q3_cash_after_funding
/operating_model/cells/downside_fy2026_cash_after_funding:downside/formula/refs/2Nonedownside_2026q4_cash_after_funding
/operating_model/cells/downside_fy2026_cash_after_funding:downside/idNonedownside_fy2026_cash_after_funding
/operating_model/cells/downside_fy2026_cash_after_funding:downside/kindNonederived
/operating_model/cells/downside_fy2026_cash_after_funding:downside/labelNoneCash after preferred funding ($M)
/operating_model/cells/downside_fy2026_cash_after_funding:downside/periodNoneFY2026
/operating_model/cells/downside_fy2026_cash_after_funding:downside/unitNoneUSD_millions
/operating_model/cells/downside_fy2026_cash_after_funding:downside/valueNone37.6996044
/operating_model/cells/downside_fy2026_cash_after_investing:downside/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/downside_fy2026_cash_after_investing:downside/caseNonedownside
/operating_model/cells/downside_fy2026_cash_after_investing:downside/formula/opNonesum
/operating_model/cells/downside_fy2026_cash_after_investing:downside/formula/refs/0Noneh1_cash_after_investing
/operating_model/cells/downside_fy2026_cash_after_investing:downside/formula/refs/1Nonedownside_2026q3_cash_after_investing
/operating_model/cells/downside_fy2026_cash_after_investing:downside/formula/refs/2Nonedownside_2026q4_cash_after_investing
/operating_model/cells/downside_fy2026_cash_after_investing:downside/idNonedownside_fy2026_cash_after_investing
/operating_model/cells/downside_fy2026_cash_after_investing:downside/kindNonederived
/operating_model/cells/downside_fy2026_cash_after_investing:downside/labelNoneCash after business investing ($M)
/operating_model/cells/downside_fy2026_cash_after_investing:downside/periodNoneFY2026
/operating_model/cells/downside_fy2026_cash_after_investing:downside/unitNoneUSD_millions
/operating_model/cells/downside_fy2026_cash_after_investing:downside/valueNone-162.3003956
/operating_model/cells/downside_fy2026_cfo:downside/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/downside_fy2026_cfo:downside/caseNonedownside
/operating_model/cells/downside_fy2026_cfo:downside/formula/opNonesum
/operating_model/cells/downside_fy2026_cfo:downside/formula/refs/0Noneh1_cfo
/operating_model/cells/downside_fy2026_cfo:downside/formula/refs/1Nonedownside_2026q3_cfo
/operating_model/cells/downside_fy2026_cfo:downside/formula/refs/2Nonedownside_2026q4_cfo
/operating_model/cells/downside_fy2026_cfo:downside/idNonedownside_fy2026_cfo
/operating_model/cells/downside_fy2026_cfo:downside/kindNonederived
/operating_model/cells/downside_fy2026_cfo:downside/labelNoneOperating cash flow proxy ($M)
/operating_model/cells/downside_fy2026_cfo:downside/periodNoneFY2026
/operating_model/cells/downside_fy2026_cfo:downside/unitNoneUSD_millions
/operating_model/cells/downside_fy2026_cfo:downside/valueNone-62.1833956
/operating_model/cells/downside_fy2026_core_revenue:downside/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/downside_fy2026_core_revenue:downside/caseNonedownside
/operating_model/cells/downside_fy2026_core_revenue:downside/formula/opNonesum
/operating_model/cells/downside_fy2026_core_revenue:downside/formula/refs/0Noneh1_core_revenue
/operating_model/cells/downside_fy2026_core_revenue:downside/formula/refs/1Nonedownside_2026q3_core_revenue
/operating_model/cells/downside_fy2026_core_revenue:downside/formula/refs/2Nonedownside_2026q4_core_revenue
/operating_model/cells/downside_fy2026_core_revenue:downside/idNonedownside_fy2026_core_revenue
/operating_model/cells/downside_fy2026_core_revenue:downside/kindNonederived
/operating_model/cells/downside_fy2026_core_revenue:downside/labelNoneCore and acquired component revenue ($M)
/operating_model/cells/downside_fy2026_core_revenue:downside/periodNoneFY2026
/operating_model/cells/downside_fy2026_core_revenue:downside/unitNoneUSD_millions
/operating_model/cells/downside_fy2026_core_revenue:downside/valueNone283.53801999999996
/operating_model/cells/downside_fy2026_gross_profit:downside/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/downside_fy2026_gross_profit:downside/caseNonedownside
/operating_model/cells/downside_fy2026_gross_profit:downside/formula/opNonesum
/operating_model/cells/downside_fy2026_gross_profit:downside/formula/refs/0Noneh1_gross_profit
/operating_model/cells/downside_fy2026_gross_profit:downside/formula/refs/1Nonedownside_2026q3_gross_profit
/operating_model/cells/downside_fy2026_gross_profit:downside/formula/refs/2Nonedownside_2026q4_gross_profit
/operating_model/cells/downside_fy2026_gross_profit:downside/idNonedownside_fy2026_gross_profit
/operating_model/cells/downside_fy2026_gross_profit:downside/kindNonederived
/operating_model/cells/downside_fy2026_gross_profit:downside/labelNoneGross profit proxy ($M)
/operating_model/cells/downside_fy2026_gross_profit:downside/periodNoneFY2026
/operating_model/cells/downside_fy2026_gross_profit:downside/unitNoneUSD_millions
/operating_model/cells/downside_fy2026_gross_profit:downside/valueNone57.9666044
/operating_model/cells/downside_fy2026_operating_income:downside/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/downside_fy2026_operating_income:downside/caseNonedownside
/operating_model/cells/downside_fy2026_operating_income:downside/formula/opNonesum
/operating_model/cells/downside_fy2026_operating_income:downside/formula/refs/0Noneh1_operating_income
/operating_model/cells/downside_fy2026_operating_income:downside/formula/refs/1Nonedownside_2026q3_operating_income
/operating_model/cells/downside_fy2026_operating_income:downside/formula/refs/2Nonedownside_2026q4_operating_income
/operating_model/cells/downside_fy2026_operating_income:downside/idNonedownside_fy2026_operating_income
/operating_model/cells/downside_fy2026_operating_income:downside/kindNonederived
/operating_model/cells/downside_fy2026_operating_income:downside/labelNoneOperating income proxy ($M)
/operating_model/cells/downside_fy2026_operating_income:downside/periodNoneFY2026
/operating_model/cells/downside_fy2026_operating_income:downside/unitNoneUSD_millions
/operating_model/cells/downside_fy2026_operating_income:downside/valueNone-15.0763956
/operating_model/cells/downside_fy2026_preferred_funding:downside/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/downside_fy2026_preferred_funding:downside/caseNonedownside
/operating_model/cells/downside_fy2026_preferred_funding:downside/formula/opNonesum
/operating_model/cells/downside_fy2026_preferred_funding:downside/formula/refs/0Noneh1_preferred_funding
/operating_model/cells/downside_fy2026_preferred_funding:downside/formula/refs/1Nonedownside_2026q3_preferred_funding
/operating_model/cells/downside_fy2026_preferred_funding:downside/formula/refs/2Nonedownside_2026q4_preferred_funding
/operating_model/cells/downside_fy2026_preferred_funding:downside/idNonedownside_fy2026_preferred_funding
/operating_model/cells/downside_fy2026_preferred_funding:downside/kindNonederived
/operating_model/cells/downside_fy2026_preferred_funding:downside/labelNonePreferred funding cash ($M)
/operating_model/cells/downside_fy2026_preferred_funding:downside/periodNoneFY2026
/operating_model/cells/downside_fy2026_preferred_funding:downside/unitNoneUSD_millions
/operating_model/cells/downside_fy2026_preferred_funding:downside/valueNone200.0
/operating_model/cells/downside_fy2026_preferred_pik:downside/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/downside_fy2026_preferred_pik:downside/caseNonedownside
/operating_model/cells/downside_fy2026_preferred_pik:downside/formula/opNonesum
/operating_model/cells/downside_fy2026_preferred_pik:downside/formula/refs/0Noneh1_preferred_pik
/operating_model/cells/downside_fy2026_preferred_pik:downside/formula/refs/1Nonedownside_2026q3_preferred_pik
/operating_model/cells/downside_fy2026_preferred_pik:downside/formula/refs/2Nonedownside_2026q4_preferred_pik
/operating_model/cells/downside_fy2026_preferred_pik:downside/idNonedownside_fy2026_preferred_pik
/operating_model/cells/downside_fy2026_preferred_pik:downside/kindNonederived
/operating_model/cells/downside_fy2026_preferred_pik:downside/labelNonePreferred PIK economic accrual ($M)
/operating_model/cells/downside_fy2026_preferred_pik:downside/periodNoneFY2026
/operating_model/cells/downside_fy2026_preferred_pik:downside/unitNoneUSD_millions
/operating_model/cells/downside_fy2026_preferred_pik:downside/valueNone3.332070741758242
/operating_model/cells/downside_fy2026_revenue:downside/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/downside_fy2026_revenue:downside/caseNonedownside
/operating_model/cells/downside_fy2026_revenue:downside/formula/opNonesum
/operating_model/cells/downside_fy2026_revenue:downside/formula/refs/0Noneh1_revenue
/operating_model/cells/downside_fy2026_revenue:downside/formula/refs/1Nonedownside_2026q3_revenue
/operating_model/cells/downside_fy2026_revenue:downside/formula/refs/2Nonedownside_2026q4_revenue
/operating_model/cells/downside_fy2026_revenue:downside/idNonedownside_fy2026_revenue
/operating_model/cells/downside_fy2026_revenue:downside/kindNonederived
/operating_model/cells/downside_fy2026_revenue:downside/labelNoneTotal revenue ($M)
/operating_model/cells/downside_fy2026_revenue:downside/periodNoneFY2026
/operating_model/cells/downside_fy2026_revenue:downside/unitNoneUSD_millions
/operating_model/cells/downside_fy2026_revenue:downside/valueNone283.53801999999996
/operating_model/cells/downside_fy2026_stockpile_revenue:downside/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/downside_fy2026_stockpile_revenue:downside/caseNonedownside
/operating_model/cells/downside_fy2026_stockpile_revenue:downside/formula/opNonesum
/operating_model/cells/downside_fy2026_stockpile_revenue:downside/formula/refs/0Noneh1_stockpile_revenue
/operating_model/cells/downside_fy2026_stockpile_revenue:downside/formula/refs/1Nonedownside_2026q3_stockpile_revenue
/operating_model/cells/downside_fy2026_stockpile_revenue:downside/formula/refs/2Nonedownside_2026q4_stockpile_revenue
/operating_model/cells/downside_fy2026_stockpile_revenue:downside/idNonedownside_fy2026_stockpile_revenue
/operating_model/cells/downside_fy2026_stockpile_revenue:downside/kindNonederived
/operating_model/cells/downside_fy2026_stockpile_revenue:downside/labelNoneAccepted stockpile deliveries ($M)
/operating_model/cells/downside_fy2026_stockpile_revenue:downside/periodNoneFY2026
/operating_model/cells/downside_fy2026_stockpile_revenue:downside/unitNoneUSD_millions
/operating_model/cells/downside_fy2026_stockpile_revenue:downside/valueNone0.0
/operating_model/cells/downside_fy2026_strategic_cash:downside/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/downside_fy2026_strategic_cash:downside/caseNonedownside
/operating_model/cells/downside_fy2026_strategic_cash:downside/formula/opNonesum
/operating_model/cells/downside_fy2026_strategic_cash:downside/formula/refs/0Noneh1_strategic_cash
/operating_model/cells/downside_fy2026_strategic_cash:downside/formula/refs/1Nonedownside_2026q3_strategic_cash
/operating_model/cells/downside_fy2026_strategic_cash:downside/formula/refs/2Nonedownside_2026q4_strategic_cash
/operating_model/cells/downside_fy2026_strategic_cash:downside/idNonedownside_fy2026_strategic_cash
/operating_model/cells/downside_fy2026_strategic_cash:downside/kindNonederived
/operating_model/cells/downside_fy2026_strategic_cash:downside/labelNonePrepayments minority/acquisition cash ($M)
/operating_model/cells/downside_fy2026_strategic_cash:downside/periodNoneFY2026
/operating_model/cells/downside_fy2026_strategic_cash:downside/unitNoneUSD_millions
/operating_model/cells/downside_fy2026_strategic_cash:downside/valueNone51.976
/operating_model/cells/downside_fy2027_capex:downside/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/downside_fy2027_capex:downside/caseNonedownside
/operating_model/cells/downside_fy2027_capex:downside/formula/opNonesum
/operating_model/cells/downside_fy2027_capex:downside/formula/refs/0Nonedownside_2027q1_capex
/operating_model/cells/downside_fy2027_capex:downside/formula/refs/1Nonedownside_2027q2_capex
/operating_model/cells/downside_fy2027_capex:downside/formula/refs/2Nonedownside_2027q3_capex
/operating_model/cells/downside_fy2027_capex:downside/formula/refs/3Nonedownside_2027q4_capex
/operating_model/cells/downside_fy2027_capex:downside/idNonedownside_fy2027_capex
/operating_model/cells/downside_fy2027_capex:downside/kindNonederived
/operating_model/cells/downside_fy2027_capex:downside/labelNoneNet cash PP&E including controlled JV ($M)
/operating_model/cells/downside_fy2027_capex:downside/periodNoneFY2027
/operating_model/cells/downside_fy2027_capex:downside/unitNoneUSD_millions
/operating_model/cells/downside_fy2027_capex:downside/valueNone210.0
/operating_model/cells/downside_fy2027_cash_after_funding:downside/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/downside_fy2027_cash_after_funding:downside/caseNonedownside
/operating_model/cells/downside_fy2027_cash_after_funding:downside/formula/opNonesum
/operating_model/cells/downside_fy2027_cash_after_funding:downside/formula/refs/0Nonedownside_2027q1_cash_after_funding
/operating_model/cells/downside_fy2027_cash_after_funding:downside/formula/refs/1Nonedownside_2027q2_cash_after_funding
/operating_model/cells/downside_fy2027_cash_after_funding:downside/formula/refs/2Nonedownside_2027q3_cash_after_funding
/operating_model/cells/downside_fy2027_cash_after_funding:downside/formula/refs/3Nonedownside_2027q4_cash_after_funding
/operating_model/cells/downside_fy2027_cash_after_funding:downside/idNonedownside_fy2027_cash_after_funding
/operating_model/cells/downside_fy2027_cash_after_funding:downside/kindNonederived
/operating_model/cells/downside_fy2027_cash_after_funding:downside/labelNoneCash after preferred funding ($M)
/operating_model/cells/downside_fy2027_cash_after_funding:downside/periodNoneFY2027
/operating_model/cells/downside_fy2027_cash_after_funding:downside/unitNoneUSD_millions
/operating_model/cells/downside_fy2027_cash_after_funding:downside/valueNone-434.2701574
/operating_model/cells/downside_fy2027_cash_after_investing:downside/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/downside_fy2027_cash_after_investing:downside/caseNonedownside
/operating_model/cells/downside_fy2027_cash_after_investing:downside/formula/opNonesum
/operating_model/cells/downside_fy2027_cash_after_investing:downside/formula/refs/0Nonedownside_2027q1_cash_after_investing
/operating_model/cells/downside_fy2027_cash_after_investing:downside/formula/refs/1Nonedownside_2027q2_cash_after_investing
/operating_model/cells/downside_fy2027_cash_after_investing:downside/formula/refs/2Nonedownside_2027q3_cash_after_investing
/operating_model/cells/downside_fy2027_cash_after_investing:downside/formula/refs/3Nonedownside_2027q4_cash_after_investing
/operating_model/cells/downside_fy2027_cash_after_investing:downside/idNonedownside_fy2027_cash_after_investing
/operating_model/cells/downside_fy2027_cash_after_investing:downside/kindNonederived
/operating_model/cells/downside_fy2027_cash_after_investing:downside/labelNoneCash after business investing ($M)
/operating_model/cells/downside_fy2027_cash_after_investing:downside/periodNoneFY2027
/operating_model/cells/downside_fy2027_cash_after_investing:downside/unitNoneUSD_millions
/operating_model/cells/downside_fy2027_cash_after_investing:downside/valueNone-434.2701574
/operating_model/cells/downside_fy2027_cfo:downside/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/downside_fy2027_cfo:downside/caseNonedownside
/operating_model/cells/downside_fy2027_cfo:downside/formula/opNonesum
/operating_model/cells/downside_fy2027_cfo:downside/formula/refs/0Nonedownside_2027q1_cfo
/operating_model/cells/downside_fy2027_cfo:downside/formula/refs/1Nonedownside_2027q2_cfo
/operating_model/cells/downside_fy2027_cfo:downside/formula/refs/2Nonedownside_2027q3_cfo
/operating_model/cells/downside_fy2027_cfo:downside/formula/refs/3Nonedownside_2027q4_cfo
/operating_model/cells/downside_fy2027_cfo:downside/idNonedownside_fy2027_cfo
/operating_model/cells/downside_fy2027_cfo:downside/kindNonederived
/operating_model/cells/downside_fy2027_cfo:downside/labelNoneOperating cash flow proxy ($M)
/operating_model/cells/downside_fy2027_cfo:downside/periodNoneFY2027
/operating_model/cells/downside_fy2027_cfo:downside/unitNoneUSD_millions
/operating_model/cells/downside_fy2027_cfo:downside/valueNone-164.02640739999998
/operating_model/cells/downside_fy2027_core_revenue:downside/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/downside_fy2027_core_revenue:downside/caseNonedownside
/operating_model/cells/downside_fy2027_core_revenue:downside/formula/opNonesum
/operating_model/cells/downside_fy2027_core_revenue:downside/formula/refs/0Nonedownside_2027q1_core_revenue
/operating_model/cells/downside_fy2027_core_revenue:downside/formula/refs/1Nonedownside_2027q2_core_revenue
/operating_model/cells/downside_fy2027_core_revenue:downside/formula/refs/2Nonedownside_2027q3_core_revenue
/operating_model/cells/downside_fy2027_core_revenue:downside/formula/refs/3Nonedownside_2027q4_core_revenue
/operating_model/cells/downside_fy2027_core_revenue:downside/idNonedownside_fy2027_core_revenue
/operating_model/cells/downside_fy2027_core_revenue:downside/kindNonederived
/operating_model/cells/downside_fy2027_core_revenue:downside/labelNoneCore and acquired component revenue ($M)
/operating_model/cells/downside_fy2027_core_revenue:downside/periodNoneFY2027
/operating_model/cells/downside_fy2027_core_revenue:downside/unitNoneUSD_millions
/operating_model/cells/downside_fy2027_core_revenue:downside/valueNone347.51633
/operating_model/cells/downside_fy2027_gross_profit:downside/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/downside_fy2027_gross_profit:downside/caseNonedownside
/operating_model/cells/downside_fy2027_gross_profit:downside/formula/opNonesum
/operating_model/cells/downside_fy2027_gross_profit:downside/formula/refs/0Nonedownside_2027q1_gross_profit
/operating_model/cells/downside_fy2027_gross_profit:downside/formula/refs/1Nonedownside_2027q2_gross_profit
/operating_model/cells/downside_fy2027_gross_profit:downside/formula/refs/2Nonedownside_2027q3_gross_profit
/operating_model/cells/downside_fy2027_gross_profit:downside/formula/refs/3Nonedownside_2027q4_gross_profit
/operating_model/cells/downside_fy2027_gross_profit:downside/idNonedownside_fy2027_gross_profit
/operating_model/cells/downside_fy2027_gross_profit:downside/kindNonederived
/operating_model/cells/downside_fy2027_gross_profit:downside/labelNoneGross profit proxy ($M)
/operating_model/cells/downside_fy2027_gross_profit:downside/periodNoneFY2027
/operating_model/cells/downside_fy2027_gross_profit:downside/unitNoneUSD_millions
/operating_model/cells/downside_fy2027_gross_profit:downside/valueNone67.7535926
/operating_model/cells/downside_fy2027_operating_income:downside/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/downside_fy2027_operating_income:downside/caseNonedownside
/operating_model/cells/downside_fy2027_operating_income:downside/formula/opNonesum
/operating_model/cells/downside_fy2027_operating_income:downside/formula/refs/0Nonedownside_2027q1_operating_income
/operating_model/cells/downside_fy2027_operating_income:downside/formula/refs/1Nonedownside_2027q2_operating_income
/operating_model/cells/downside_fy2027_operating_income:downside/formula/refs/2Nonedownside_2027q3_operating_income
/operating_model/cells/downside_fy2027_operating_income:downside/formula/refs/3Nonedownside_2027q4_operating_income
/operating_model/cells/downside_fy2027_operating_income:downside/idNonedownside_fy2027_operating_income
/operating_model/cells/downside_fy2027_operating_income:downside/kindNonederived
/operating_model/cells/downside_fy2027_operating_income:downside/labelNoneOperating income proxy ($M)
/operating_model/cells/downside_fy2027_operating_income:downside/periodNoneFY2027
/operating_model/cells/downside_fy2027_operating_income:downside/unitNoneUSD_millions
/operating_model/cells/downside_fy2027_operating_income:downside/valueNone-37.12640739999999
/operating_model/cells/downside_fy2027_preferred_funding:downside/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/downside_fy2027_preferred_funding:downside/caseNonedownside
/operating_model/cells/downside_fy2027_preferred_funding:downside/formula/opNonesum
/operating_model/cells/downside_fy2027_preferred_funding:downside/formula/refs/0Nonedownside_2027q1_preferred_funding
/operating_model/cells/downside_fy2027_preferred_funding:downside/formula/refs/1Nonedownside_2027q2_preferred_funding
/operating_model/cells/downside_fy2027_preferred_funding:downside/formula/refs/2Nonedownside_2027q3_preferred_funding
/operating_model/cells/downside_fy2027_preferred_funding:downside/formula/refs/3Nonedownside_2027q4_preferred_funding
/operating_model/cells/downside_fy2027_preferred_funding:downside/idNonedownside_fy2027_preferred_funding
/operating_model/cells/downside_fy2027_preferred_funding:downside/kindNonederived
/operating_model/cells/downside_fy2027_preferred_funding:downside/labelNonePreferred funding cash ($M)
/operating_model/cells/downside_fy2027_preferred_funding:downside/periodNoneFY2027
/operating_model/cells/downside_fy2027_preferred_funding:downside/unitNoneUSD_millions
/operating_model/cells/downside_fy2027_preferred_funding:downside/valueNone0.0
/operating_model/cells/downside_fy2027_preferred_pik:downside/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/downside_fy2027_preferred_pik:downside/caseNonedownside
/operating_model/cells/downside_fy2027_preferred_pik:downside/formula/opNonesum
/operating_model/cells/downside_fy2027_preferred_pik:downside/formula/refs/0Nonedownside_2027q1_preferred_pik
/operating_model/cells/downside_fy2027_preferred_pik:downside/formula/refs/1Nonedownside_2027q2_preferred_pik
/operating_model/cells/downside_fy2027_preferred_pik:downside/formula/refs/2Nonedownside_2027q3_preferred_pik
/operating_model/cells/downside_fy2027_preferred_pik:downside/formula/refs/3Nonedownside_2027q4_preferred_pik
/operating_model/cells/downside_fy2027_preferred_pik:downside/idNonedownside_fy2027_preferred_pik
/operating_model/cells/downside_fy2027_preferred_pik:downside/kindNonederived
/operating_model/cells/downside_fy2027_preferred_pik:downside/labelNonePreferred PIK economic accrual ($M)
/operating_model/cells/downside_fy2027_preferred_pik:downside/periodNoneFY2027
/operating_model/cells/downside_fy2027_preferred_pik:downside/unitNoneUSD_millions
/operating_model/cells/downside_fy2027_preferred_pik:downside/valueNone11.416040312403153
/operating_model/cells/downside_fy2027_revenue:downside/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/downside_fy2027_revenue:downside/caseNonedownside
/operating_model/cells/downside_fy2027_revenue:downside/formula/opNonesum
/operating_model/cells/downside_fy2027_revenue:downside/formula/refs/0Nonedownside_2027q1_revenue
/operating_model/cells/downside_fy2027_revenue:downside/formula/refs/1Nonedownside_2027q2_revenue
/operating_model/cells/downside_fy2027_revenue:downside/formula/refs/2Nonedownside_2027q3_revenue
/operating_model/cells/downside_fy2027_revenue:downside/formula/refs/3Nonedownside_2027q4_revenue
/operating_model/cells/downside_fy2027_revenue:downside/idNonedownside_fy2027_revenue
/operating_model/cells/downside_fy2027_revenue:downside/kindNonederived
/operating_model/cells/downside_fy2027_revenue:downside/labelNoneTotal revenue ($M)
/operating_model/cells/downside_fy2027_revenue:downside/periodNoneFY2027
/operating_model/cells/downside_fy2027_revenue:downside/unitNoneUSD_millions
/operating_model/cells/downside_fy2027_revenue:downside/valueNone362.51633
/operating_model/cells/downside_fy2027_stockpile_revenue:downside/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/downside_fy2027_stockpile_revenue:downside/caseNonedownside
/operating_model/cells/downside_fy2027_stockpile_revenue:downside/formula/opNonesum
/operating_model/cells/downside_fy2027_stockpile_revenue:downside/formula/refs/0Nonedownside_2027q1_stockpile_revenue
/operating_model/cells/downside_fy2027_stockpile_revenue:downside/formula/refs/1Nonedownside_2027q2_stockpile_revenue
/operating_model/cells/downside_fy2027_stockpile_revenue:downside/formula/refs/2Nonedownside_2027q3_stockpile_revenue
/operating_model/cells/downside_fy2027_stockpile_revenue:downside/formula/refs/3Nonedownside_2027q4_stockpile_revenue
/operating_model/cells/downside_fy2027_stockpile_revenue:downside/idNonedownside_fy2027_stockpile_revenue
/operating_model/cells/downside_fy2027_stockpile_revenue:downside/kindNonederived
/operating_model/cells/downside_fy2027_stockpile_revenue:downside/labelNoneAccepted stockpile deliveries ($M)
/operating_model/cells/downside_fy2027_stockpile_revenue:downside/periodNoneFY2027
/operating_model/cells/downside_fy2027_stockpile_revenue:downside/unitNoneUSD_millions
/operating_model/cells/downside_fy2027_stockpile_revenue:downside/valueNone15.0
/operating_model/cells/downside_fy2027_strategic_cash:downside/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/downside_fy2027_strategic_cash:downside/caseNonedownside
/operating_model/cells/downside_fy2027_strategic_cash:downside/formula/opNonesum
/operating_model/cells/downside_fy2027_strategic_cash:downside/formula/refs/0Nonedownside_2027q1_strategic_cash
/operating_model/cells/downside_fy2027_strategic_cash:downside/formula/refs/1Nonedownside_2027q2_strategic_cash
/operating_model/cells/downside_fy2027_strategic_cash:downside/formula/refs/2Nonedownside_2027q3_strategic_cash
/operating_model/cells/downside_fy2027_strategic_cash:downside/formula/refs/3Nonedownside_2027q4_strategic_cash
/operating_model/cells/downside_fy2027_strategic_cash:downside/idNonedownside_fy2027_strategic_cash
/operating_model/cells/downside_fy2027_strategic_cash:downside/kindNonederived
/operating_model/cells/downside_fy2027_strategic_cash:downside/labelNonePrepayments minority/acquisition cash ($M)
/operating_model/cells/downside_fy2027_strategic_cash:downside/periodNoneFY2027
/operating_model/cells/downside_fy2027_strategic_cash:downside/unitNoneUSD_millions
/operating_model/cells/downside_fy2027_strategic_cash:downside/valueNone60.243750000000006
/operating_model/cells/h1_award_withholding:shared/basisNoneUSD millions; preferred financing and stockpile program occurred after H1.
/operating_model/cells/h1_award_withholding:shared/caseNoneshared
/operating_model/cells/h1_award_withholding:shared/idNoneh1_award_withholding
/operating_model/cells/h1_award_withholding:shared/kindNonereported
/operating_model/cells/h1_award_withholding:shared/labelNoneaward withholding
/operating_model/cells/h1_award_withholding:shared/periodNoneH1 / July 3 2026
/operating_model/cells/h1_award_withholding:shared/source_dateNone2026-08-13
/operating_model/cells/h1_award_withholding:shared/source_urlNonehttps://www.sec.gov/Archives/edgar/data/2101698/000162828026056460/elmt-20260703.htm
/operating_model/cells/h1_award_withholding:shared/unitNoneUSD_millions
/operating_model/cells/h1_award_withholding:shared/valueNone4.371
/operating_model/cells/h1_business_investing:shared/basisNoneUses statement net-of-capital-grants presentation.
/operating_model/cells/h1_business_investing:shared/caseNoneshared
/operating_model/cells/h1_business_investing:shared/formula/opNonesum
/operating_model/cells/h1_business_investing:shared/formula/refs/0Noneh1_capex
/operating_model/cells/h1_business_investing:shared/formula/refs/1Noneh1_strategic_cash
/operating_model/cells/h1_business_investing:shared/idNoneh1_business_investing
/operating_model/cells/h1_business_investing:shared/kindNonederived
/operating_model/cells/h1_business_investing:shared/labelNoneNet capex and investment purchase
/operating_model/cells/h1_business_investing:shared/periodNoneH1 2026
/operating_model/cells/h1_business_investing:shared/unitNoneUSD_millions
/operating_model/cells/h1_business_investing:shared/valueNone4.567
/operating_model/cells/h1_capex:shared/basisNoneNet capex is after capital grants; strategic cash was exercise of an investment call option.
/operating_model/cells/h1_capex:shared/caseNoneshared
/operating_model/cells/h1_capex:shared/idNoneh1_capex
/operating_model/cells/h1_capex:shared/kindNonereported
/operating_model/cells/h1_capex:shared/labelNonecapex
/operating_model/cells/h1_capex:shared/periodNoneH1 / July 3 2026
/operating_model/cells/h1_capex:shared/source_dateNone2026-08-13
/operating_model/cells/h1_capex:shared/source_urlNonehttps://www.sec.gov/Archives/edgar/data/2101698/000162828026056460/elmt-20260703.htm
/operating_model/cells/h1_capex:shared/unitNoneUSD_millions
/operating_model/cells/h1_capex:shared/valueNone3.141
/operating_model/cells/h1_cash_after_funding:shared/basisNoneH1 IPO cash is outside this selected-funding comparison.
/operating_model/cells/h1_cash_after_funding:shared/caseNoneshared
/operating_model/cells/h1_cash_after_funding:shared/formula/opNonesum
/operating_model/cells/h1_cash_after_funding:shared/formula/refs/0Noneh1_cash_after_investing
/operating_model/cells/h1_cash_after_funding:shared/formula/refs/1Noneh1_preferred_funding
/operating_model/cells/h1_cash_after_funding:shared/idNoneh1_cash_after_funding
/operating_model/cells/h1_cash_after_funding:shared/kindNonederived
/operating_model/cells/h1_cash_after_funding:shared/labelNoneH1 cash after preferred funding
/operating_model/cells/h1_cash_after_funding:shared/periodNoneH1 2026
/operating_model/cells/h1_cash_after_funding:shared/unitNoneUSD_millions
/operating_model/cells/h1_cash_after_funding:shared/valueNone-12.139
/operating_model/cells/h1_cash_after_investing:shared/basisNoneNo further grant cash added again.
/operating_model/cells/h1_cash_after_investing:shared/caseNoneshared
/operating_model/cells/h1_cash_after_investing:shared/formula/opNonesubtract
/operating_model/cells/h1_cash_after_investing:shared/formula/refs/0Noneh1_cfo
/operating_model/cells/h1_cash_after_investing:shared/formula/refs/1Noneh1_business_investing
/operating_model/cells/h1_cash_after_investing:shared/idNoneh1_cash_after_investing
/operating_model/cells/h1_cash_after_investing:shared/kindNonederived
/operating_model/cells/h1_cash_after_investing:shared/labelNoneH1 cash after net PP&E and strategic cash
/operating_model/cells/h1_cash_after_investing:shared/periodNoneH1 2026
/operating_model/cells/h1_cash_after_investing:shared/unitNoneUSD_millions
/operating_model/cells/h1_cash_after_investing:shared/valueNone-12.139
/operating_model/cells/h1_cfo:shared/basisNoneUSD millions; preferred financing and stockpile program occurred after H1.
/operating_model/cells/h1_cfo:shared/caseNoneshared
/operating_model/cells/h1_cfo:shared/idNoneh1_cfo
/operating_model/cells/h1_cfo:shared/kindNonereported
/operating_model/cells/h1_cfo:shared/labelNonecfo
/operating_model/cells/h1_cfo:shared/periodNoneH1 / July 3 2026
/operating_model/cells/h1_cfo:shared/source_dateNone2026-08-13
/operating_model/cells/h1_cfo:shared/source_urlNonehttps://www.sec.gov/Archives/edgar/data/2101698/000162828026056460/elmt-20260703.htm
/operating_model/cells/h1_cfo:shared/unitNoneUSD_millions
/operating_model/cells/h1_cfo:shared/valueNone-7.572
/operating_model/cells/h1_core_revenue:shared/basisNoneUSD millions; preferred financing and stockpile program occurred after H1.
/operating_model/cells/h1_core_revenue:shared/caseNoneshared
/operating_model/cells/h1_core_revenue:shared/idNoneh1_core_revenue
/operating_model/cells/h1_core_revenue:shared/kindNonereported
/operating_model/cells/h1_core_revenue:shared/labelNonecore revenue
/operating_model/cells/h1_core_revenue:shared/periodNoneH1 / July 3 2026
/operating_model/cells/h1_core_revenue:shared/source_dateNone2026-08-13
/operating_model/cells/h1_core_revenue:shared/source_urlNonehttps://www.sec.gov/Archives/edgar/data/2101698/000162828026056460/elmt-20260703.htm
/operating_model/cells/h1_core_revenue:shared/unitNoneUSD_millions
/operating_model/cells/h1_core_revenue:shared/valueNone122.408
/operating_model/cells/h1_da:shared/basisNoneUSD millions; preferred financing and stockpile program occurred after H1.
/operating_model/cells/h1_da:shared/caseNoneshared
/operating_model/cells/h1_da:shared/idNoneh1_da
/operating_model/cells/h1_da:shared/kindNonereported
/operating_model/cells/h1_da:shared/labelNoneda
/operating_model/cells/h1_da:shared/periodNoneH1 / July 3 2026
/operating_model/cells/h1_da:shared/source_dateNone2026-08-13
/operating_model/cells/h1_da:shared/source_urlNonehttps://www.sec.gov/Archives/edgar/data/2101698/000162828026056460/elmt-20260703.htm
/operating_model/cells/h1_da:shared/unitNoneUSD_millions
/operating_model/cells/h1_da:shared/valueNone3.779
/operating_model/cells/h1_gross_profit:shared/basisNoneUSD millions; preferred financing and stockpile program occurred after H1.
/operating_model/cells/h1_gross_profit:shared/caseNoneshared
/operating_model/cells/h1_gross_profit:shared/idNoneh1_gross_profit
/operating_model/cells/h1_gross_profit:shared/kindNonereported
/operating_model/cells/h1_gross_profit:shared/labelNonegross profit
/operating_model/cells/h1_gross_profit:shared/periodNoneH1 / July 3 2026
/operating_model/cells/h1_gross_profit:shared/source_dateNone2026-08-13
/operating_model/cells/h1_gross_profit:shared/source_urlNonehttps://www.sec.gov/Archives/edgar/data/2101698/000162828026056460/elmt-20260703.htm
/operating_model/cells/h1_gross_profit:shared/unitNoneUSD_millions
/operating_model/cells/h1_gross_profit:shared/valueNone28.458
/operating_model/cells/h1_inventory_use:shared/basisNoneUSD millions; preferred financing and stockpile program occurred after H1.
/operating_model/cells/h1_inventory_use:shared/caseNoneshared
/operating_model/cells/h1_inventory_use:shared/idNoneh1_inventory_use
/operating_model/cells/h1_inventory_use:shared/kindNonereported
/operating_model/cells/h1_inventory_use:shared/labelNoneinventory use
/operating_model/cells/h1_inventory_use:shared/periodNoneH1 / July 3 2026
/operating_model/cells/h1_inventory_use:shared/source_dateNone2026-08-13
/operating_model/cells/h1_inventory_use:shared/source_urlNonehttps://www.sec.gov/Archives/edgar/data/2101698/000162828026056460/elmt-20260703.htm
/operating_model/cells/h1_inventory_use:shared/unitNoneUSD_millions
/operating_model/cells/h1_inventory_use:shared/valueNone32.763
/operating_model/cells/h1_operating_income:shared/basisNoneUSD millions; preferred financing and stockpile program occurred after H1.
/operating_model/cells/h1_operating_income:shared/caseNoneshared
/operating_model/cells/h1_operating_income:shared/idNoneh1_operating_income
/operating_model/cells/h1_operating_income:shared/kindNonereported
/operating_model/cells/h1_operating_income:shared/labelNoneoperating income
/operating_model/cells/h1_operating_income:shared/periodNoneH1 / July 3 2026
/operating_model/cells/h1_operating_income:shared/source_dateNone2026-08-13
/operating_model/cells/h1_operating_income:shared/source_urlNonehttps://www.sec.gov/Archives/edgar/data/2101698/000162828026056460/elmt-20260703.htm
/operating_model/cells/h1_operating_income:shared/unitNoneUSD_millions
/operating_model/cells/h1_operating_income:shared/valueNone-5.765
/operating_model/cells/h1_preferred_funding:shared/basisNoneUSD millions; preferred financing and stockpile program occurred after H1.
/operating_model/cells/h1_preferred_funding:shared/caseNoneshared
/operating_model/cells/h1_preferred_funding:shared/idNoneh1_preferred_funding
/operating_model/cells/h1_preferred_funding:shared/kindNonereported
/operating_model/cells/h1_preferred_funding:shared/labelNonepreferred funding
/operating_model/cells/h1_preferred_funding:shared/periodNoneH1 / July 3 2026
/operating_model/cells/h1_preferred_funding:shared/source_dateNone2026-08-13
/operating_model/cells/h1_preferred_funding:shared/source_urlNonehttps://www.sec.gov/Archives/edgar/data/2101698/000162828026056460/elmt-20260703.htm
/operating_model/cells/h1_preferred_funding:shared/unitNoneUSD_millions
/operating_model/cells/h1_preferred_funding:shared/valueNone0.0
/operating_model/cells/h1_preferred_pik:shared/basisNoneUSD millions; preferred financing and stockpile program occurred after H1.
/operating_model/cells/h1_preferred_pik:shared/caseNoneshared
/operating_model/cells/h1_preferred_pik:shared/idNoneh1_preferred_pik
/operating_model/cells/h1_preferred_pik:shared/kindNonereported
/operating_model/cells/h1_preferred_pik:shared/labelNonepreferred pik
/operating_model/cells/h1_preferred_pik:shared/periodNoneH1 / July 3 2026
/operating_model/cells/h1_preferred_pik:shared/source_dateNone2026-08-13
/operating_model/cells/h1_preferred_pik:shared/source_urlNonehttps://www.sec.gov/Archives/edgar/data/2101698/000162828026056460/elmt-20260703.htm
/operating_model/cells/h1_preferred_pik:shared/unitNoneUSD_millions
/operating_model/cells/h1_preferred_pik:shared/valueNone0.0
/operating_model/cells/h1_revenue:shared/basisNoneUSD millions; preferred financing and stockpile program occurred after H1.
/operating_model/cells/h1_revenue:shared/caseNoneshared
/operating_model/cells/h1_revenue:shared/idNoneh1_revenue
/operating_model/cells/h1_revenue:shared/kindNonereported
/operating_model/cells/h1_revenue:shared/labelNonerevenue
/operating_model/cells/h1_revenue:shared/periodNoneH1 / July 3 2026
/operating_model/cells/h1_revenue:shared/source_dateNone2026-08-13
/operating_model/cells/h1_revenue:shared/source_urlNonehttps://www.sec.gov/Archives/edgar/data/2101698/000162828026056460/elmt-20260703.htm
/operating_model/cells/h1_revenue:shared/unitNoneUSD_millions
/operating_model/cells/h1_revenue:shared/valueNone122.408
/operating_model/cells/h1_sbc:shared/basisNoneUSD millions; preferred financing and stockpile program occurred after H1.
/operating_model/cells/h1_sbc:shared/caseNoneshared
/operating_model/cells/h1_sbc:shared/idNoneh1_sbc
/operating_model/cells/h1_sbc:shared/kindNonereported
/operating_model/cells/h1_sbc:shared/labelNonesbc
/operating_model/cells/h1_sbc:shared/periodNoneH1 / July 3 2026
/operating_model/cells/h1_sbc:shared/source_dateNone2026-08-13
/operating_model/cells/h1_sbc:shared/source_urlNonehttps://www.sec.gov/Archives/edgar/data/2101698/000162828026056460/elmt-20260703.htm
/operating_model/cells/h1_sbc:shared/unitNoneUSD_millions
/operating_model/cells/h1_sbc:shared/valueNone10.735
/operating_model/cells/h1_stockpile_revenue:shared/basisNoneUSD millions; preferred financing and stockpile program occurred after H1.
/operating_model/cells/h1_stockpile_revenue:shared/caseNoneshared
/operating_model/cells/h1_stockpile_revenue:shared/idNoneh1_stockpile_revenue
/operating_model/cells/h1_stockpile_revenue:shared/kindNonereported
/operating_model/cells/h1_stockpile_revenue:shared/labelNonestockpile revenue
/operating_model/cells/h1_stockpile_revenue:shared/periodNoneH1 / July 3 2026
/operating_model/cells/h1_stockpile_revenue:shared/source_dateNone2026-08-13
/operating_model/cells/h1_stockpile_revenue:shared/source_urlNonehttps://www.sec.gov/Archives/edgar/data/2101698/000162828026056460/elmt-20260703.htm
/operating_model/cells/h1_stockpile_revenue:shared/unitNoneUSD_millions
/operating_model/cells/h1_stockpile_revenue:shared/valueNone0.0
/operating_model/cells/h1_strategic_cash:shared/basisNoneNet capex is after capital grants; strategic cash was exercise of an investment call option.
/operating_model/cells/h1_strategic_cash:shared/caseNoneshared
/operating_model/cells/h1_strategic_cash:shared/idNoneh1_strategic_cash
/operating_model/cells/h1_strategic_cash:shared/kindNonereported
/operating_model/cells/h1_strategic_cash:shared/labelNonestrategic cash
/operating_model/cells/h1_strategic_cash:shared/periodNoneH1 / July 3 2026
/operating_model/cells/h1_strategic_cash:shared/source_dateNone2026-08-13
/operating_model/cells/h1_strategic_cash:shared/source_urlNonehttps://www.sec.gov/Archives/edgar/data/2101698/000162828026056460/elmt-20260703.htm
/operating_model/cells/h1_strategic_cash:shared/unitNoneUSD_millions
/operating_model/cells/h1_strategic_cash:shared/valueNone1.426
/operating_model/cells/net_ipo:shared/basisNoneUSD millions; preferred financing and stockpile program occurred after H1.
/operating_model/cells/net_ipo:shared/caseNoneshared
/operating_model/cells/net_ipo:shared/idNonenet_ipo
/operating_model/cells/net_ipo:shared/kindNonereported
/operating_model/cells/net_ipo:shared/labelNonenet ipo
/operating_model/cells/net_ipo:shared/periodNoneH1 / July 3 2026
/operating_model/cells/net_ipo:shared/source_dateNone2026-08-13
/operating_model/cells/net_ipo:shared/source_urlNonehttps://www.sec.gov/Archives/edgar/data/2101698/000162828026056460/elmt-20260703.htm
/operating_model/cells/net_ipo:shared/unitNoneUSD_millions
/operating_model/cells/net_ipo:shared/valueNone125.363
/operating_model/cells/preferred_rate:shared/basisNoneQuarterly compounding; no current cash dividend assumed.
/operating_model/cells/preferred_rate:shared/caseNoneshared
/operating_model/cells/preferred_rate:shared/idNonepreferred_rate
/operating_model/cells/preferred_rate:shared/kindNonereported
/operating_model/cells/preferred_rate:shared/labelNoneAnnual preferred PIK rate
/operating_model/cells/preferred_rate:shared/periodNoneContract
/operating_model/cells/preferred_rate:shared/source_dateNone2026-09-14
/operating_model/cells/preferred_rate:shared/source_urlNonehttps://www.sec.gov/Archives/edgar/data/2101698/000121390026099734/ea0304682-8k_elmet.htm
/operating_model/cells/preferred_rate:shared/unitNoneratio
/operating_model/cells/preferred_rate:shared/valueNone0.055
/operating_model/cells/preferred_received:shared/basisNoneThe $200M initial receipt is actual. Other commitments, limits and intended investments are not automatically receipts or current revenue.
/operating_model/cells/preferred_received:shared/caseNoneshared
/operating_model/cells/preferred_received:shared/idNonepreferred_received
/operating_model/cells/preferred_received:shared/kindNonereported
/operating_model/cells/preferred_received:shared/labelNonepreferred received
/operating_model/cells/preferred_received:shared/periodNoneSeptember 2026
/operating_model/cells/preferred_received:shared/source_dateNone2026-09-14
/operating_model/cells/preferred_received:shared/source_urlNonehttps://www.sec.gov/Archives/edgar/data/2101698/000121390026099734/ea0304682-8k_elmet.htm
/operating_model/cells/preferred_received:shared/unitNoneUSD_millions
/operating_model/cells/preferred_received:shared/valueNone200.0
/operating_model/cells/preferred_remaining:shared/basisNoneThe $200M initial receipt is actual. Other commitments, limits and intended investments are not automatically receipts or current revenue.
/operating_model/cells/preferred_remaining:shared/caseNoneshared
/operating_model/cells/preferred_remaining:shared/idNonepreferred_remaining
/operating_model/cells/preferred_remaining:shared/kindNonereported
/operating_model/cells/preferred_remaining:shared/labelNonepreferred remaining
/operating_model/cells/preferred_remaining:shared/periodNoneSeptember 2026
/operating_model/cells/preferred_remaining:shared/source_dateNone2026-09-14
/operating_model/cells/preferred_remaining:shared/source_urlNonehttps://www.sec.gov/Archives/edgar/data/2101698/000121390026099734/ea0304682-8k_elmet.htm
/operating_model/cells/preferred_remaining:shared/unitNoneUSD_millions
/operating_model/cells/preferred_remaining:shared/valueNone250.0
/operating_model/cells/q2_gross:shared/basisNoneReported consolidated amount, converted from thousands to millions.
/operating_model/cells/q2_gross:shared/caseNoneshared
/operating_model/cells/q2_gross:shared/idNoneq2_gross
/operating_model/cells/q2_gross:shared/kindNonereported
/operating_model/cells/q2_gross:shared/labelNoneQ2 gross profit
/operating_model/cells/q2_gross:shared/periodNone2026Q2
/operating_model/cells/q2_gross:shared/source_dateNone2026-08-13
/operating_model/cells/q2_gross:shared/source_urlNonehttps://www.sec.gov/Archives/edgar/data/2101698/000162828026056460/elmt-20260703.htm
/operating_model/cells/q2_gross:shared/unitNoneUSD_millions
/operating_model/cells/q2_gross:shared/valueNone16.61
/operating_model/cells/q2_revenue:shared/basisNoneReported consolidated amount, converted from thousands to millions.
/operating_model/cells/q2_revenue:shared/caseNoneshared
/operating_model/cells/q2_revenue:shared/idNoneq2_revenue
/operating_model/cells/q2_revenue:shared/kindNonereported
/operating_model/cells/q2_revenue:shared/labelNoneQ2 revenue
/operating_model/cells/q2_revenue:shared/periodNone2026Q2
/operating_model/cells/q2_revenue:shared/source_dateNone2026-08-13
/operating_model/cells/q2_revenue:shared/source_urlNonehttps://www.sec.gov/Archives/edgar/data/2101698/000162828026056460/elmt-20260703.htm
/operating_model/cells/q2_revenue:shared/unitNoneUSD_millions
/operating_model/cells/q2_revenue:shared/valueNone66.401
/operating_model/cells/springer_initial:shared/basisNoneThe $200M initial receipt is actual. Other commitments, limits and intended investments are not automatically receipts or current revenue.
/operating_model/cells/springer_initial:shared/caseNoneshared
/operating_model/cells/springer_initial:shared/idNonespringer_initial
/operating_model/cells/springer_initial:shared/kindNonereported
/operating_model/cells/springer_initial:shared/labelNonespringer initial
/operating_model/cells/springer_initial:shared/periodNoneSeptember 2026
/operating_model/cells/springer_initial:shared/source_dateNone2026-09-14
/operating_model/cells/springer_initial:shared/source_urlNonehttps://www.sec.gov/Archives/edgar/data/2101698/000121390026099734/ea0304682-8k_elmet.htm
/operating_model/cells/springer_initial:shared/unitNoneUSD_millions
/operating_model/cells/springer_initial:shared/valueNone75.0
/operating_model/cells/springer_prepayment_capacity:shared/basisNoneThe $200M initial receipt is actual. Other commitments, limits and intended investments are not automatically receipts or current revenue.
/operating_model/cells/springer_prepayment_capacity:shared/caseNoneshared
/operating_model/cells/springer_prepayment_capacity:shared/idNonespringer_prepayment_capacity
/operating_model/cells/springer_prepayment_capacity:shared/kindNonereported
/operating_model/cells/springer_prepayment_capacity:shared/labelNonespringer prepayment capacity
/operating_model/cells/springer_prepayment_capacity:shared/periodNoneSeptember 2026
/operating_model/cells/springer_prepayment_capacity:shared/source_dateNone2026-09-14
/operating_model/cells/springer_prepayment_capacity:shared/source_urlNonehttps://www.sec.gov/Archives/edgar/data/2101698/000121390026099734/ea0304682-8k_elmet.htm
/operating_model/cells/springer_prepayment_capacity:shared/unitNoneUSD_millions
/operating_model/cells/springer_prepayment_capacity:shared/valueNone50.0
/operating_model/cells/stockpile_ceiling:shared/basisNoneThe $200M initial receipt is actual. Other commitments, limits and intended investments are not automatically receipts or current revenue.
/operating_model/cells/stockpile_ceiling:shared/caseNoneshared
/operating_model/cells/stockpile_ceiling:shared/idNonestockpile_ceiling
/operating_model/cells/stockpile_ceiling:shared/kindNonereported
/operating_model/cells/stockpile_ceiling:shared/labelNonestockpile ceiling
/operating_model/cells/stockpile_ceiling:shared/periodNoneSeptember 2026
/operating_model/cells/stockpile_ceiling:shared/source_dateNone2026-09-14
/operating_model/cells/stockpile_ceiling:shared/source_urlNonehttps://www.sec.gov/Archives/edgar/data/2101698/000121390026099734/ea0304682-8k_elmet.htm
/operating_model/cells/stockpile_ceiling:shared/unitNoneUSD_millions
/operating_model/cells/stockpile_ceiling:shared/valueNone2000.0
/operating_model/cells/stockpile_minimum:shared/basisNoneThe $200M initial receipt is actual. Other commitments, limits and intended investments are not automatically receipts or current revenue.
/operating_model/cells/stockpile_minimum:shared/caseNoneshared
/operating_model/cells/stockpile_minimum:shared/idNonestockpile_minimum
/operating_model/cells/stockpile_minimum:shared/kindNonereported
/operating_model/cells/stockpile_minimum:shared/labelNonestockpile minimum
/operating_model/cells/stockpile_minimum:shared/periodNoneSeptember 2026
/operating_model/cells/stockpile_minimum:shared/source_dateNone2026-09-14
/operating_model/cells/stockpile_minimum:shared/source_urlNonehttps://www.sec.gov/Archives/edgar/data/2101698/000121390026099734/ea0304682-8k_elmet.htm
/operating_model/cells/stockpile_minimum:shared/unitNoneUSD_millions
/operating_model/cells/stockpile_minimum:shared/valueNone150.0
/operating_model/cells/upside_2026q3_blue_moon:upside/basisNoneNo consolidated Blue Moon sales or market-value gains.
/operating_model/cells/upside_2026q3_blue_moon:upside/caseNoneupside
/operating_model/cells/upside_2026q3_blue_moon:upside/formula/opNonemultiply
/operating_model/cells/upside_2026q3_blue_moon:upside/formula/refs/0Noneupside_2026q3_cad_commitment
/operating_model/cells/upside_2026q3_blue_moon:upside/formula/refs/1Noneupside_2026q3_cad_usd
/operating_model/cells/upside_2026q3_blue_moon:upside/idNoneupside_2026q3_blue_moon
/operating_model/cells/upside_2026q3_blue_moon:upside/kindNonederived
/operating_model/cells/upside_2026q3_blue_moon:upside/labelNoneBlue Moon minority investment cash
/operating_model/cells/upside_2026q3_blue_moon:upside/periodNone2026Q3
/operating_model/cells/upside_2026q3_blue_moon:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q3_blue_moon:upside/valueNone0.0
/operating_model/cells/upside_2026q3_business_investment:upside/basisNoneNo initial government receipt netted into capex.
/operating_model/cells/upside_2026q3_business_investment:upside/caseNoneupside
/operating_model/cells/upside_2026q3_business_investment:upside/formula/opNonesum
/operating_model/cells/upside_2026q3_business_investment:upside/formula/refs/0Noneupside_2026q3_capex
/operating_model/cells/upside_2026q3_business_investment:upside/formula/refs/1Noneupside_2026q3_strategic_cash
/operating_model/cells/upside_2026q3_business_investment:upside/idNoneupside_2026q3_business_investment
/operating_model/cells/upside_2026q3_business_investment:upside/kindNonederived
/operating_model/cells/upside_2026q3_business_investment:upside/labelNonePP&E and strategic deployment
/operating_model/cells/upside_2026q3_business_investment:upside/periodNone2026Q3
/operating_model/cells/upside_2026q3_business_investment:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q3_business_investment:upside/valueNone15.0
/operating_model/cells/upside_2026q3_cad_commitment:upside/basisNoneBinding 3.5M-unit commitment at CAD10, within 45 days of September 14; expected in Q4 fiscal 2026.
/operating_model/cells/upside_2026q3_cad_commitment:upside/caseNoneupside
/operating_model/cells/upside_2026q3_cad_commitment:upside/idNoneupside_2026q3_cad_commitment
/operating_model/cells/upside_2026q3_cad_commitment:upside/kindNoneassumption
/operating_model/cells/upside_2026q3_cad_commitment:upside/labelNoneCAD35M investment at 1:1 before FX
/operating_model/cells/upside_2026q3_cad_commitment:upside/periodNone2026Q3
/operating_model/cells/upside_2026q3_cad_commitment:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q3_cad_commitment:upside/valueNone0.0
/operating_model/cells/upside_2026q3_cad_usd:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2026q3_cad_usd:upside/caseNoneupside
/operating_model/cells/upside_2026q3_cad_usd:upside/idNoneupside_2026q3_cad_usd
/operating_model/cells/upside_2026q3_cad_usd:upside/kindNoneassumption
/operating_model/cells/upside_2026q3_cad_usd:upside/labelNoneUSD per CAD assumption
/operating_model/cells/upside_2026q3_cad_usd:upside/periodNone2026Q3
/operating_model/cells/upside_2026q3_cad_usd:upside/unitNoneratio
/operating_model/cells/upside_2026q3_cad_usd:upside/valueNone0.73
/operating_model/cells/upside_2026q3_capex:upside/basisNoneConsolidated external investment includes domestic expansion and controlled JV plant; internal capital contributions are not counted again.
/operating_model/cells/upside_2026q3_capex:upside/caseNoneupside
/operating_model/cells/upside_2026q3_capex:upside/idNoneupside_2026q3_capex
/operating_model/cells/upside_2026q3_capex:upside/kindNoneassumption
/operating_model/cells/upside_2026q3_capex:upside/labelNoneExternal PP&E domestic and controlled-JV cash
/operating_model/cells/upside_2026q3_capex:upside/periodNone2026Q3
/operating_model/cells/upside_2026q3_capex:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q3_capex:upside/valueNone15.0
/operating_model/cells/upside_2026q3_cash_after_funding:upside/basisNonePeriod flow only; no claim that preferred cash is freely distributable.
/operating_model/cells/upside_2026q3_cash_after_funding:upside/caseNoneupside
/operating_model/cells/upside_2026q3_cash_after_funding:upside/formula/opNonesum
/operating_model/cells/upside_2026q3_cash_after_funding:upside/formula/refs/0Noneupside_2026q3_cash_after_investing
/operating_model/cells/upside_2026q3_cash_after_funding:upside/formula/refs/1Noneupside_2026q3_preferred_funding
/operating_model/cells/upside_2026q3_cash_after_funding:upside/idNoneupside_2026q3_cash_after_funding
/operating_model/cells/upside_2026q3_cash_after_funding:upside/kindNonederived
/operating_model/cells/upside_2026q3_cash_after_funding:upside/labelNoneCash after preferred financing
/operating_model/cells/upside_2026q3_cash_after_funding:upside/periodNone2026Q3
/operating_model/cells/upside_2026q3_cash_after_funding:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q3_cash_after_funding:upside/valueNone174.6625316
/operating_model/cells/upside_2026q3_cash_after_investing:upside/basisNoneBefore preferred funding and other capital allocation.
/operating_model/cells/upside_2026q3_cash_after_investing:upside/caseNoneupside
/operating_model/cells/upside_2026q3_cash_after_investing:upside/formula/opNonesubtract
/operating_model/cells/upside_2026q3_cash_after_investing:upside/formula/refs/0Noneupside_2026q3_cfo
/operating_model/cells/upside_2026q3_cash_after_investing:upside/formula/refs/1Noneupside_2026q3_business_investment
/operating_model/cells/upside_2026q3_cash_after_investing:upside/idNoneupside_2026q3_cash_after_investing
/operating_model/cells/upside_2026q3_cash_after_investing:upside/kindNonederived
/operating_model/cells/upside_2026q3_cash_after_investing:upside/labelNoneCash after business investing
/operating_model/cells/upside_2026q3_cash_after_investing:upside/periodNone2026Q3
/operating_model/cells/upside_2026q3_cash_after_investing:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q3_cash_after_investing:upside/valueNone-25.337468399999995
/operating_model/cells/upside_2026q3_cash_bonus:upside/basisNoneMaximum September award shown as a Q2 2027 cash/expense sensitivity, conditional on employment and measurement criteria; not SBC.
/operating_model/cells/upside_2026q3_cash_bonus:upside/caseNoneupside
/operating_model/cells/upside_2026q3_cash_bonus:upside/idNoneupside_2026q3_cash_bonus
/operating_model/cells/upside_2026q3_cash_bonus:upside/kindNoneassumption
/operating_model/cells/upside_2026q3_cash_bonus:upside/labelNonePerformance cash-bonus allowance
/operating_model/cells/upside_2026q3_cash_bonus:upside/periodNone2026Q3
/operating_model/cells/upside_2026q3_cash_bonus:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q3_cash_bonus:upside/valueNone0.0
/operating_model/cells/upside_2026q3_cash_interest:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2026q3_cash_interest:upside/caseNoneupside
/operating_model/cells/upside_2026q3_cash_interest:upside/idNoneupside_2026q3_cash_interest
/operating_model/cells/upside_2026q3_cash_interest:upside/kindNoneassumption
/operating_model/cells/upside_2026q3_cash_interest:upside/labelNoneCash debt interest
/operating_model/cells/upside_2026q3_cash_interest:upside/periodNone2026Q3
/operating_model/cells/upside_2026q3_cash_interest:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q3_cash_interest:upside/valueNone0.2
/operating_model/cells/upside_2026q3_cash_interest_income:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2026q3_cash_interest_income:upside/caseNoneupside
/operating_model/cells/upside_2026q3_cash_interest_income:upside/idNoneupside_2026q3_cash_interest_income
/operating_model/cells/upside_2026q3_cash_interest_income:upside/kindNoneassumption
/operating_model/cells/upside_2026q3_cash_interest_income:upside/labelNoneCash interest income
/operating_model/cells/upside_2026q3_cash_interest_income:upside/periodNone2026Q3
/operating_model/cells/upside_2026q3_cash_interest_income:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q3_cash_interest_income:upside/valueNone2.0
/operating_model/cells/upside_2026q3_cash_opex:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2026q3_cash_opex:upside/caseNoneupside
/operating_model/cells/upside_2026q3_cash_opex:upside/idNoneupside_2026q3_cash_opex
/operating_model/cells/upside_2026q3_cash_opex:upside/kindNoneassumption
/operating_model/cells/upside_2026q3_cash_opex:upside/labelNoneCash corporate R&D and selling expense
/operating_model/cells/upside_2026q3_cash_opex:upside/periodNone2026Q3
/operating_model/cells/upside_2026q3_cash_opex:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q3_cash_opex:upside/valueNone12.0
/operating_model/cells/upside_2026q3_cash_tax:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2026q3_cash_tax:upside/caseNoneupside
/operating_model/cells/upside_2026q3_cash_tax:upside/idNoneupside_2026q3_cash_tax
/operating_model/cells/upside_2026q3_cash_tax:upside/kindNoneassumption
/operating_model/cells/upside_2026q3_cash_tax:upside/labelNoneCash tax
/operating_model/cells/upside_2026q3_cash_tax:upside/periodNone2026Q3
/operating_model/cells/upside_2026q3_cash_tax:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q3_cash_tax:upside/valueNone2.0
/operating_model/cells/upside_2026q3_cash_uses:upside/basisNoneProject input prepayments are shown separately in strategic cash.
/operating_model/cells/upside_2026q3_cash_uses:upside/caseNoneupside
/operating_model/cells/upside_2026q3_cash_uses:upside/formula/opNonesum
/operating_model/cells/upside_2026q3_cash_uses:upside/formula/refs/0Noneupside_2026q3_cash_tax
/operating_model/cells/upside_2026q3_cash_uses:upside/formula/refs/1Noneupside_2026q3_cash_interest
/operating_model/cells/upside_2026q3_cash_uses:upside/formula/refs/2Noneupside_2026q3_inventory_other_cash
/operating_model/cells/upside_2026q3_cash_uses:upside/formula/refs/3Noneupside_2026q3_pass_inventory_cash
/operating_model/cells/upside_2026q3_cash_uses:upside/idNoneupside_2026q3_cash_uses
/operating_model/cells/upside_2026q3_cash_uses:upside/kindNonederived
/operating_model/cells/upside_2026q3_cash_uses:upside/labelNoneTax interest and working capital
/operating_model/cells/upside_2026q3_cash_uses:upside/periodNone2026Q3
/operating_model/cells/upside_2026q3_cash_uses:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q3_cash_uses:upside/valueNone19.7
/operating_model/cells/upside_2026q3_cfo:upside/basisNoneNo current-period preferred cash dividend.
/operating_model/cells/upside_2026q3_cfo:upside/caseNoneupside
/operating_model/cells/upside_2026q3_cfo:upside/formula/opNonesubtract
/operating_model/cells/upside_2026q3_cfo:upside/formula/refs/0Noneupside_2026q3_operating_cash_earnings
/operating_model/cells/upside_2026q3_cfo:upside/formula/refs/1Noneupside_2026q3_cash_uses
/operating_model/cells/upside_2026q3_cfo:upside/idNoneupside_2026q3_cfo
/operating_model/cells/upside_2026q3_cfo:upside/kindNonederived
/operating_model/cells/upside_2026q3_cfo:upside/labelNoneOperating cash flow proxy
/operating_model/cells/upside_2026q3_cfo:upside/periodNone2026Q3
/operating_model/cells/upside_2026q3_cfo:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q3_cfo:upside/valueNone-10.337468399999995
/operating_model/cells/upside_2026q3_core_margin:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2026q3_core_margin:upside/caseNoneupside
/operating_model/cells/upside_2026q3_core_margin:upside/idNoneupside_2026q3_core_margin
/operating_model/cells/upside_2026q3_core_margin:upside/kindNoneassumption
/operating_model/cells/upside_2026q3_core_margin:upside/labelNoneCore gross margin
/operating_model/cells/upside_2026q3_core_margin:upside/periodNone2026Q3
/operating_model/cells/upside_2026q3_core_margin:upside/unitNoneratio
/operating_model/cells/upside_2026q3_core_margin:upside/valueNone0.27
/operating_model/cells/upside_2026q3_core_revenue:upside/basisNoneCurrent manufacturing and conditional acquired operations; stockpile is separate.
/operating_model/cells/upside_2026q3_core_revenue:upside/caseNoneupside
/operating_model/cells/upside_2026q3_core_revenue:upside/formula/opNonesum
/operating_model/cells/upside_2026q3_core_revenue:upside/formula/refs/0Noneupside_2026q3_legacy_demand
/operating_model/cells/upside_2026q3_core_revenue:upside/formula/refs/1Noneupside_2026q3_metal_pass
/operating_model/cells/upside_2026q3_core_revenue:upside/formula/refs/2Noneupside_2026q3_german_revenue
/operating_model/cells/upside_2026q3_core_revenue:upside/idNoneupside_2026q3_core_revenue
/operating_model/cells/upside_2026q3_core_revenue:upside/kindNonederived
/operating_model/cells/upside_2026q3_core_revenue:upside/labelNoneCore and acquired revenue
/operating_model/cells/upside_2026q3_core_revenue:upside/periodNone2026Q3
/operating_model/cells/upside_2026q3_core_revenue:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q3_core_revenue:upside/valueNone76.71308
/operating_model/cells/upside_2026q3_da:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2026q3_da:upside/caseNoneupside
/operating_model/cells/upside_2026q3_da:upside/idNoneupside_2026q3_da
/operating_model/cells/upside_2026q3_da:upside/kindNoneassumption
/operating_model/cells/upside_2026q3_da:upside/labelNoneOperating D&A
/operating_model/cells/upside_2026q3_da:upside/periodNone2026Q3
/operating_model/cells/upside_2026q3_da:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q3_da:upside/valueNone2.0
/operating_model/cells/upside_2026q3_demand_index:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2026q3_demand_index:upside/caseNoneupside
/operating_model/cells/upside_2026q3_demand_index:upside/idNoneupside_2026q3_demand_index
/operating_model/cells/upside_2026q3_demand_index:upside/kindNoneassumption
/operating_model/cells/upside_2026q3_demand_index:upside/labelNoneNet volume and mix versus Q2
/operating_model/cells/upside_2026q3_demand_index:upside/periodNone2026Q3
/operating_model/cells/upside_2026q3_demand_index:upside/unitNoneratio
/operating_model/cells/upside_2026q3_demand_index:upside/valueNone1.08
/operating_model/cells/upside_2026q3_eur_usd:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2026q3_eur_usd:upside/caseNoneupside
/operating_model/cells/upside_2026q3_eur_usd:upside/idNoneupside_2026q3_eur_usd
/operating_model/cells/upside_2026q3_eur_usd:upside/kindNoneassumption
/operating_model/cells/upside_2026q3_eur_usd:upside/labelNoneUSD per EUR conversion
/operating_model/cells/upside_2026q3_eur_usd:upside/periodNone2026Q3
/operating_model/cells/upside_2026q3_eur_usd:upside/unitNoneratio
/operating_model/cells/upside_2026q3_eur_usd:upside/valueNone1.08
/operating_model/cells/upside_2026q3_funding_weight:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2026q3_funding_weight:upside/caseNoneupside
/operating_model/cells/upside_2026q3_funding_weight:upside/idNoneupside_2026q3_funding_weight
/operating_model/cells/upside_2026q3_funding_weight:upside/kindNoneassumption
/operating_model/cells/upside_2026q3_funding_weight:upside/labelNoneNew funding quarter weight
/operating_model/cells/upside_2026q3_funding_weight:upside/periodNone2026Q3
/operating_model/cells/upside_2026q3_funding_weight:upside/unitNoneratio
/operating_model/cells/upside_2026q3_funding_weight:upside/valueNone0.2087912087912088
/operating_model/cells/upside_2026q3_german_eur_amount:upside/basisNoneDesk working capital and net pension assumptions in contractual price formula; signed amount can be negative.
/operating_model/cells/upside_2026q3_german_eur_amount:upside/caseNoneupside
/operating_model/cells/upside_2026q3_german_eur_amount:upside/idNoneupside_2026q3_german_eur_amount
/operating_model/cells/upside_2026q3_german_eur_amount:upside/kindNoneassumption
/operating_model/cells/upside_2026q3_german_eur_amount:upside/labelNoneGerman net price sensitivity, EUR millions represented at 1:1 before FX
/operating_model/cells/upside_2026q3_german_eur_amount:upside/periodNone2026Q3
/operating_model/cells/upside_2026q3_german_eur_amount:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q3_german_eur_amount:upside/valueNone0.0
/operating_model/cells/upside_2026q3_german_gross:upside/basisNoneUnverified post-close margin.
/operating_model/cells/upside_2026q3_german_gross:upside/caseNoneupside
/operating_model/cells/upside_2026q3_german_gross:upside/formula/opNonemultiply
/operating_model/cells/upside_2026q3_german_gross:upside/formula/refs/0Noneupside_2026q3_german_revenue
/operating_model/cells/upside_2026q3_german_gross:upside/formula/refs/1Noneupside_2026q3_german_margin
/operating_model/cells/upside_2026q3_german_gross:upside/idNoneupside_2026q3_german_gross
/operating_model/cells/upside_2026q3_german_gross:upside/kindNonederived
/operating_model/cells/upside_2026q3_german_gross:upside/labelNoneGerman gross contribution
/operating_model/cells/upside_2026q3_german_gross:upside/periodNone2026Q3
/operating_model/cells/upside_2026q3_german_gross:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q3_german_gross:upside/valueNone0.0
/operating_model/cells/upside_2026q3_german_margin:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2026q3_german_margin:upside/caseNoneupside
/operating_model/cells/upside_2026q3_german_margin:upside/idNoneupside_2026q3_german_margin
/operating_model/cells/upside_2026q3_german_margin:upside/kindNoneassumption
/operating_model/cells/upside_2026q3_german_margin:upside/labelNoneAcquired gross margin
/operating_model/cells/upside_2026q3_german_margin:upside/periodNone2026Q3
/operating_model/cells/upside_2026q3_german_margin:upside/unitNoneratio
/operating_model/cells/upside_2026q3_german_margin:upside/valueNone0.18
/operating_model/cells/upside_2026q3_german_price:upside/basisNoneScenario only; metal inventory and pension measurement can materially change final consideration.
/operating_model/cells/upside_2026q3_german_price:upside/caseNoneupside
/operating_model/cells/upside_2026q3_german_price:upside/formula/opNonemultiply
/operating_model/cells/upside_2026q3_german_price:upside/formula/refs/0Noneupside_2026q3_german_eur_amount
/operating_model/cells/upside_2026q3_german_price:upside/formula/refs/1Noneupside_2026q3_eur_usd
/operating_model/cells/upside_2026q3_german_price:upside/idNoneupside_2026q3_german_price
/operating_model/cells/upside_2026q3_german_price:upside/kindNonederived
/operating_model/cells/upside_2026q3_german_price:upside/labelNoneConditional German closing cash in USD
/operating_model/cells/upside_2026q3_german_price:upside/periodNone2026Q3
/operating_model/cells/upside_2026q3_german_price:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q3_german_price:upside/valueNone0.0
/operating_model/cells/upside_2026q3_german_revenue:upside/basisNoneDesk acquired-period contribution only after assumed closing; transaction remains conditional.
/operating_model/cells/upside_2026q3_german_revenue:upside/caseNoneupside
/operating_model/cells/upside_2026q3_german_revenue:upside/idNoneupside_2026q3_german_revenue
/operating_model/cells/upside_2026q3_german_revenue:upside/kindNoneassumption
/operating_model/cells/upside_2026q3_german_revenue:upside/labelNoneConditional acquired German revenue
/operating_model/cells/upside_2026q3_german_revenue:upside/periodNone2026Q3
/operating_model/cells/upside_2026q3_german_revenue:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q3_german_revenue:upside/valueNone0.0
/operating_model/cells/upside_2026q3_gross_profit:upside/basisNoneCompany forecasts are not supplied for the new program.
/operating_model/cells/upside_2026q3_gross_profit:upside/caseNoneupside
/operating_model/cells/upside_2026q3_gross_profit:upside/formula/opNonesum
/operating_model/cells/upside_2026q3_gross_profit:upside/formula/refs/0Noneupside_2026q3_legacy_gross
/operating_model/cells/upside_2026q3_gross_profit:upside/formula/refs/1Noneupside_2026q3_price_gross
/operating_model/cells/upside_2026q3_gross_profit:upside/formula/refs/2Noneupside_2026q3_german_gross
/operating_model/cells/upside_2026q3_gross_profit:upside/formula/refs/3Noneupside_2026q3_stockpile_gross
/operating_model/cells/upside_2026q3_gross_profit:upside/idNoneupside_2026q3_gross_profit
/operating_model/cells/upside_2026q3_gross_profit:upside/kindNonederived
/operating_model/cells/upside_2026q3_gross_profit:upside/labelNoneGross profit proxy
/operating_model/cells/upside_2026q3_gross_profit:upside/periodNone2026Q3
/operating_model/cells/upside_2026q3_gross_profit:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q3_gross_profit:upside/valueNone19.362531600000004
/operating_model/cells/upside_2026q3_inventory_other_cash:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2026q3_inventory_other_cash:upside/caseNoneupside
/operating_model/cells/upside_2026q3_inventory_other_cash:upside/idNoneupside_2026q3_inventory_other_cash
/operating_model/cells/upside_2026q3_inventory_other_cash:upside/kindNoneassumption
/operating_model/cells/upside_2026q3_inventory_other_cash:upside/labelNoneInventory and other working-capital use
/operating_model/cells/upside_2026q3_inventory_other_cash:upside/periodNone2026Q3
/operating_model/cells/upside_2026q3_inventory_other_cash:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q3_inventory_other_cash:upside/valueNone15.0
/operating_model/cells/upside_2026q3_inventory_price_fraction:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2026q3_inventory_price_fraction:upside/caseNoneupside
/operating_model/cells/upside_2026q3_inventory_price_fraction:upside/idNoneupside_2026q3_inventory_price_fraction
/operating_model/cells/upside_2026q3_inventory_price_fraction:upside/kindNoneassumption
/operating_model/cells/upside_2026q3_inventory_price_fraction:upside/labelNonePrice-related inventory funding share
/operating_model/cells/upside_2026q3_inventory_price_fraction:upside/periodNone2026Q3
/operating_model/cells/upside_2026q3_inventory_price_fraction:upside/unitNoneratio
/operating_model/cells/upside_2026q3_inventory_price_fraction:upside/valueNone0.5
/operating_model/cells/upside_2026q3_legacy_demand:upside/basisNoneDemand separated from incremental metal-price pass-through.
/operating_model/cells/upside_2026q3_legacy_demand:upside/caseNoneupside
/operating_model/cells/upside_2026q3_legacy_demand:upside/formula/opNonemultiply
/operating_model/cells/upside_2026q3_legacy_demand:upside/formula/refs/0Noneq2_revenue
/operating_model/cells/upside_2026q3_legacy_demand:upside/formula/refs/1Noneupside_2026q3_demand_index
/operating_model/cells/upside_2026q3_legacy_demand:upside/idNoneupside_2026q3_legacy_demand
/operating_model/cells/upside_2026q3_legacy_demand:upside/kindNonederived
/operating_model/cells/upside_2026q3_legacy_demand:upside/labelNoneLegacy revenue at reference metal prices
/operating_model/cells/upside_2026q3_legacy_demand:upside/periodNone2026Q3
/operating_model/cells/upside_2026q3_legacy_demand:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q3_legacy_demand:upside/valueNone71.71308
/operating_model/cells/upside_2026q3_legacy_gross:upside/basisNoneIndependent operating-margin scenario.
/operating_model/cells/upside_2026q3_legacy_gross:upside/caseNoneupside
/operating_model/cells/upside_2026q3_legacy_gross:upside/formula/opNonemultiply
/operating_model/cells/upside_2026q3_legacy_gross:upside/formula/refs/0Noneupside_2026q3_legacy_demand
/operating_model/cells/upside_2026q3_legacy_gross:upside/formula/refs/1Noneupside_2026q3_core_margin
/operating_model/cells/upside_2026q3_legacy_gross:upside/idNoneupside_2026q3_legacy_gross
/operating_model/cells/upside_2026q3_legacy_gross:upside/kindNonederived
/operating_model/cells/upside_2026q3_legacy_gross:upside/labelNoneLegacy gross profit
/operating_model/cells/upside_2026q3_legacy_gross:upside/periodNone2026Q3
/operating_model/cells/upside_2026q3_legacy_gross:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q3_legacy_gross:upside/valueNone19.362531600000004
/operating_model/cells/upside_2026q3_metal_cost:upside/basisNoneAt 100% pass-through, higher commodity prices do not create gross profit.
/operating_model/cells/upside_2026q3_metal_cost:upside/caseNoneupside
/operating_model/cells/upside_2026q3_metal_cost:upside/formula/opNonemultiply
/operating_model/cells/upside_2026q3_metal_cost:upside/formula/refs/0Noneupside_2026q3_metal_pass
/operating_model/cells/upside_2026q3_metal_cost:upside/formula/refs/1Noneupside_2026q3_pass_cost_ratio
/operating_model/cells/upside_2026q3_metal_cost:upside/idNoneupside_2026q3_metal_cost
/operating_model/cells/upside_2026q3_metal_cost:upside/kindNonederived
/operating_model/cells/upside_2026q3_metal_cost:upside/labelNoneMatched input price cost
/operating_model/cells/upside_2026q3_metal_cost:upside/periodNone2026Q3
/operating_model/cells/upside_2026q3_metal_cost:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q3_metal_cost:upside/valueNone5.0
/operating_model/cells/upside_2026q3_metal_pass:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2026q3_metal_pass:upside/caseNoneupside
/operating_model/cells/upside_2026q3_metal_pass:upside/idNoneupside_2026q3_metal_pass
/operating_model/cells/upside_2026q3_metal_pass:upside/kindNoneassumption
/operating_model/cells/upside_2026q3_metal_pass:upside/labelNoneIncremental raw-material price pass-through
/operating_model/cells/upside_2026q3_metal_pass:upside/periodNone2026Q3
/operating_model/cells/upside_2026q3_metal_pass:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q3_metal_pass:upside/valueNone5.0
/operating_model/cells/upside_2026q3_new_pik_basis:upside/basisNoneInitial 19-day approximate accrual; later tranches assumed late-quarter.
/operating_model/cells/upside_2026q3_new_pik_basis:upside/caseNoneupside
/operating_model/cells/upside_2026q3_new_pik_basis:upside/formula/opNonemultiply
/operating_model/cells/upside_2026q3_new_pik_basis:upside/formula/refs/0Noneupside_2026q3_preferred_funding
/operating_model/cells/upside_2026q3_new_pik_basis:upside/formula/refs/1Noneupside_2026q3_funding_weight
/operating_model/cells/upside_2026q3_new_pik_basis:upside/idNoneupside_2026q3_new_pik_basis
/operating_model/cells/upside_2026q3_new_pik_basis:upside/kindNonederived
/operating_model/cells/upside_2026q3_new_pik_basis:upside/labelNoneNew funding weighted for partial quarter
/operating_model/cells/upside_2026q3_new_pik_basis:upside/periodNone2026Q3
/operating_model/cells/upside_2026q3_new_pik_basis:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q3_new_pik_basis:upside/valueNone41.75824175824176
/operating_model/cells/upside_2026q3_operating_cash_earnings:upside/basisNoneNo debt forgiveness or financing gain.
/operating_model/cells/upside_2026q3_operating_cash_earnings:upside/caseNoneupside
/operating_model/cells/upside_2026q3_operating_cash_earnings:upside/formula/opNonesum
/operating_model/cells/upside_2026q3_operating_cash_earnings:upside/formula/refs/0Noneupside_2026q3_operating_income
/operating_model/cells/upside_2026q3_operating_cash_earnings:upside/formula/refs/1Noneupside_2026q3_sbc
/operating_model/cells/upside_2026q3_operating_cash_earnings:upside/formula/refs/2Noneupside_2026q3_da
/operating_model/cells/upside_2026q3_operating_cash_earnings:upside/formula/refs/3Noneupside_2026q3_cash_interest_income
/operating_model/cells/upside_2026q3_operating_cash_earnings:upside/idNoneupside_2026q3_operating_cash_earnings
/operating_model/cells/upside_2026q3_operating_cash_earnings:upside/kindNonederived
/operating_model/cells/upside_2026q3_operating_cash_earnings:upside/labelNoneOperating earnings plus noncash and interest
/operating_model/cells/upside_2026q3_operating_cash_earnings:upside/periodNone2026Q3
/operating_model/cells/upside_2026q3_operating_cash_earnings:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q3_operating_cash_earnings:upside/valueNone9.362531600000004
/operating_model/cells/upside_2026q3_operating_income:upside/basisNonePreferred PIK is below operating economics, not operating expense.
/operating_model/cells/upside_2026q3_operating_income:upside/caseNoneupside
/operating_model/cells/upside_2026q3_operating_income:upside/formula/opNonesubtract
/operating_model/cells/upside_2026q3_operating_income:upside/formula/refs/0Noneupside_2026q3_gross_profit
/operating_model/cells/upside_2026q3_operating_income:upside/formula/refs/1Noneupside_2026q3_opex
/operating_model/cells/upside_2026q3_operating_income:upside/idNoneupside_2026q3_operating_income
/operating_model/cells/upside_2026q3_operating_income:upside/kindNonederived
/operating_model/cells/upside_2026q3_operating_income:upside/labelNoneOperating income proxy
/operating_model/cells/upside_2026q3_operating_income:upside/periodNone2026Q3
/operating_model/cells/upside_2026q3_operating_income:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q3_operating_income:upside/valueNone3.362531600000004
/operating_model/cells/upside_2026q3_opex:upside/basisNoneNo repeat of H1 IPO SBC as if recurring every quarter.
/operating_model/cells/upside_2026q3_opex:upside/caseNoneupside
/operating_model/cells/upside_2026q3_opex:upside/formula/opNonesum
/operating_model/cells/upside_2026q3_opex:upside/formula/refs/0Noneupside_2026q3_cash_opex
/operating_model/cells/upside_2026q3_opex:upside/formula/refs/1Noneupside_2026q3_sbc
/operating_model/cells/upside_2026q3_opex:upside/formula/refs/2Noneupside_2026q3_da
/operating_model/cells/upside_2026q3_opex:upside/formula/refs/3Noneupside_2026q3_cash_bonus
/operating_model/cells/upside_2026q3_opex:upside/idNoneupside_2026q3_opex
/operating_model/cells/upside_2026q3_opex:upside/kindNonederived
/operating_model/cells/upside_2026q3_opex:upside/labelNoneCash overhead SBC and D&A
/operating_model/cells/upside_2026q3_opex:upside/periodNone2026Q3
/operating_model/cells/upside_2026q3_opex:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q3_opex:upside/valueNone16.0
/operating_model/cells/upside_2026q3_pass_cost_ratio:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2026q3_pass_cost_ratio:upside/caseNoneupside
/operating_model/cells/upside_2026q3_pass_cost_ratio:upside/idNoneupside_2026q3_pass_cost_ratio
/operating_model/cells/upside_2026q3_pass_cost_ratio:upside/kindNoneassumption
/operating_model/cells/upside_2026q3_pass_cost_ratio:upside/labelNoneInput-cost share of pass-through
/operating_model/cells/upside_2026q3_pass_cost_ratio:upside/periodNone2026Q3
/operating_model/cells/upside_2026q3_pass_cost_ratio:upside/unitNoneratio
/operating_model/cells/upside_2026q3_pass_cost_ratio:upside/valueNone1.0
/operating_model/cells/upside_2026q3_pass_inventory_cash:upside/basisNoneCommodity inflation can tie up cash despite matched gross profit.
/operating_model/cells/upside_2026q3_pass_inventory_cash:upside/caseNoneupside
/operating_model/cells/upside_2026q3_pass_inventory_cash:upside/formula/opNonemultiply
/operating_model/cells/upside_2026q3_pass_inventory_cash:upside/formula/refs/0Noneupside_2026q3_metal_pass
/operating_model/cells/upside_2026q3_pass_inventory_cash:upside/formula/refs/1Noneupside_2026q3_inventory_price_fraction
/operating_model/cells/upside_2026q3_pass_inventory_cash:upside/idNoneupside_2026q3_pass_inventory_cash
/operating_model/cells/upside_2026q3_pass_inventory_cash:upside/kindNonederived
/operating_model/cells/upside_2026q3_pass_inventory_cash:upside/labelNoneAdditional price-related inventory funding
/operating_model/cells/upside_2026q3_pass_inventory_cash:upside/periodNone2026Q3
/operating_model/cells/upside_2026q3_pass_inventory_cash:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q3_pass_inventory_cash:upside/valueNone2.5
/operating_model/cells/upside_2026q3_pik_basis:upside/basisNoneExisting balance includes prior PIK compounding.
/operating_model/cells/upside_2026q3_pik_basis:upside/caseNoneupside
/operating_model/cells/upside_2026q3_pik_basis:upside/formula/opNonesum
/operating_model/cells/upside_2026q3_pik_basis:upside/formula/refs/0Noneupside_2026q3_preferred_opening
/operating_model/cells/upside_2026q3_pik_basis:upside/formula/refs/1Noneupside_2026q3_new_pik_basis
/operating_model/cells/upside_2026q3_pik_basis:upside/idNoneupside_2026q3_pik_basis
/operating_model/cells/upside_2026q3_pik_basis:upside/kindNonederived
/operating_model/cells/upside_2026q3_pik_basis:upside/labelNoneWeighted preferred claim for PIK
/operating_model/cells/upside_2026q3_pik_basis:upside/periodNone2026Q3
/operating_model/cells/upside_2026q3_pik_basis:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q3_pik_basis:upside/valueNone41.75824175824176
/operating_model/cells/upside_2026q3_preferred_ending:upside/basisNoneStock balance, not an annual flow; ignores warrant-linked liquidation preference reductions.
/operating_model/cells/upside_2026q3_preferred_ending:upside/caseNoneupside
/operating_model/cells/upside_2026q3_preferred_ending:upside/formula/opNonesum
/operating_model/cells/upside_2026q3_preferred_ending:upside/formula/refs/0Noneupside_2026q3_preferred_opening
/operating_model/cells/upside_2026q3_preferred_ending:upside/formula/refs/1Noneupside_2026q3_preferred_funding
/operating_model/cells/upside_2026q3_preferred_ending:upside/formula/refs/2Noneupside_2026q3_preferred_pik
/operating_model/cells/upside_2026q3_preferred_ending:upside/idNoneupside_2026q3_preferred_ending
/operating_model/cells/upside_2026q3_preferred_ending:upside/kindNonederived
/operating_model/cells/upside_2026q3_preferred_ending:upside/labelNoneEnding preferred claim before warrant adjustments
/operating_model/cells/upside_2026q3_preferred_ending:upside/periodNone2026Q3
/operating_model/cells/upside_2026q3_preferred_ending:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q3_preferred_ending:upside/valueNone200.57417582417582
/operating_model/cells/upside_2026q3_preferred_funding:upside/basisNoneInitial $200M received September 14; any later $50M receipt is conditional and respects six-month tranche availability.
/operating_model/cells/upside_2026q3_preferred_funding:upside/caseNoneupside
/operating_model/cells/upside_2026q3_preferred_funding:upside/idNoneupside_2026q3_preferred_funding
/operating_model/cells/upside_2026q3_preferred_funding:upside/kindNoneassumption
/operating_model/cells/upside_2026q3_preferred_funding:upside/labelNonePreferred financing receipts
/operating_model/cells/upside_2026q3_preferred_funding:upside/periodNone2026Q3
/operating_model/cells/upside_2026q3_preferred_funding:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q3_preferred_funding:upside/valueNone200.0
/operating_model/cells/upside_2026q3_preferred_opening:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2026q3_preferred_opening:upside/caseNoneupside
/operating_model/cells/upside_2026q3_preferred_opening:upside/idNoneupside_2026q3_preferred_opening
/operating_model/cells/upside_2026q3_preferred_opening:upside/kindNoneassumption
/operating_model/cells/upside_2026q3_preferred_opening:upside/labelNoneOpening preferred claim
/operating_model/cells/upside_2026q3_preferred_opening:upside/periodNone2026Q3
/operating_model/cells/upside_2026q3_preferred_opening:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q3_preferred_opening:upside/valueNone0.0
/operating_model/cells/upside_2026q3_preferred_pik:upside/basisNoneNoncash senior claim; no deduction from current-period cash.
/operating_model/cells/upside_2026q3_preferred_pik:upside/caseNoneupside
/operating_model/cells/upside_2026q3_preferred_pik:upside/formula/opNonemultiply
/operating_model/cells/upside_2026q3_preferred_pik:upside/formula/refs/0Noneupside_2026q3_pik_basis
/operating_model/cells/upside_2026q3_preferred_pik:upside/formula/refs/1Nonepreferred_rate
/operating_model/cells/upside_2026q3_preferred_pik:upside/formula/refs/2Noneupside_2026q3_quarter_year
/operating_model/cells/upside_2026q3_preferred_pik:upside/idNoneupside_2026q3_preferred_pik
/operating_model/cells/upside_2026q3_preferred_pik:upside/kindNonederived
/operating_model/cells/upside_2026q3_preferred_pik:upside/labelNonePreferred economic PIK accrual
/operating_model/cells/upside_2026q3_preferred_pik:upside/periodNone2026Q3
/operating_model/cells/upside_2026q3_preferred_pik:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q3_preferred_pik:upside/valueNone0.5741758241758242
/operating_model/cells/upside_2026q3_price_gross:upside/basisNoneMismatch sensitivity is explicit.
/operating_model/cells/upside_2026q3_price_gross:upside/caseNoneupside
/operating_model/cells/upside_2026q3_price_gross:upside/formula/opNonesubtract
/operating_model/cells/upside_2026q3_price_gross:upside/formula/refs/0Noneupside_2026q3_metal_pass
/operating_model/cells/upside_2026q3_price_gross:upside/formula/refs/1Noneupside_2026q3_metal_cost
/operating_model/cells/upside_2026q3_price_gross:upside/idNoneupside_2026q3_price_gross
/operating_model/cells/upside_2026q3_price_gross:upside/kindNonederived
/operating_model/cells/upside_2026q3_price_gross:upside/labelNoneIncremental price pass-through gross profit
/operating_model/cells/upside_2026q3_price_gross:upside/periodNone2026Q3
/operating_model/cells/upside_2026q3_price_gross:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q3_price_gross:upside/valueNone0.0
/operating_model/cells/upside_2026q3_quarter_year:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2026q3_quarter_year:upside/caseNoneupside
/operating_model/cells/upside_2026q3_quarter_year:upside/idNoneupside_2026q3_quarter_year
/operating_model/cells/upside_2026q3_quarter_year:upside/kindNoneassumption
/operating_model/cells/upside_2026q3_quarter_year:upside/labelNoneQuarter-year fraction
/operating_model/cells/upside_2026q3_quarter_year:upside/periodNone2026Q3
/operating_model/cells/upside_2026q3_quarter_year:upside/unitNoneratio
/operating_model/cells/upside_2026q3_quarter_year:upside/valueNone0.25
/operating_model/cells/upside_2026q3_raw_prepay:upside/basisNoneDesk first and milestone-conditioned second $25M funding; later negative amounts are consumption/settlement credits, not new revenue.
/operating_model/cells/upside_2026q3_raw_prepay:upside/caseNoneupside
/operating_model/cells/upside_2026q3_raw_prepay:upside/idNoneupside_2026q3_raw_prepay
/operating_model/cells/upside_2026q3_raw_prepay:upside/kindNoneassumption
/operating_model/cells/upside_2026q3_raw_prepay:upside/labelNoneNet new raw-material prepayments
/operating_model/cells/upside_2026q3_raw_prepay:upside/periodNone2026Q3
/operating_model/cells/upside_2026q3_raw_prepay:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q3_raw_prepay:upside/valueNone0.0
/operating_model/cells/upside_2026q3_revenue:upside/basisNoneNo recognition of preferred funding as revenue.
/operating_model/cells/upside_2026q3_revenue:upside/caseNoneupside
/operating_model/cells/upside_2026q3_revenue:upside/formula/opNonesum
/operating_model/cells/upside_2026q3_revenue:upside/formula/refs/0Noneupside_2026q3_core_revenue
/operating_model/cells/upside_2026q3_revenue:upside/formula/refs/1Noneupside_2026q3_stockpile_revenue
/operating_model/cells/upside_2026q3_revenue:upside/idNoneupside_2026q3_revenue
/operating_model/cells/upside_2026q3_revenue:upside/kindNonederived
/operating_model/cells/upside_2026q3_revenue:upside/labelNoneTotal revenue
/operating_model/cells/upside_2026q3_revenue:upside/periodNone2026Q3
/operating_model/cells/upside_2026q3_revenue:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q3_revenue:upside/valueNone76.71308
/operating_model/cells/upside_2026q3_sbc:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2026q3_sbc:upside/caseNoneupside
/operating_model/cells/upside_2026q3_sbc:upside/idNoneupside_2026q3_sbc
/operating_model/cells/upside_2026q3_sbc:upside/kindNoneassumption
/operating_model/cells/upside_2026q3_sbc:upside/labelNoneSBC
/operating_model/cells/upside_2026q3_sbc:upside/periodNone2026Q3
/operating_model/cells/upside_2026q3_sbc:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q3_sbc:upside/valueNone2.0
/operating_model/cells/upside_2026q3_stock_margin:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2026q3_stock_margin:upside/caseNoneupside
/operating_model/cells/upside_2026q3_stock_margin:upside/idNoneupside_2026q3_stock_margin
/operating_model/cells/upside_2026q3_stock_margin:upside/kindNoneassumption
/operating_model/cells/upside_2026q3_stock_margin:upside/labelNoneStockpile gross margin
/operating_model/cells/upside_2026q3_stock_margin:upside/periodNone2026Q3
/operating_model/cells/upside_2026q3_stock_margin:upside/unitNoneratio
/operating_model/cells/upside_2026q3_stock_margin:upside/valueNone0.12
/operating_model/cells/upside_2026q3_stockpile_gross:upside/basisNoneProcured input cost is reflected in margin; no unsupported floor-price assumption.
/operating_model/cells/upside_2026q3_stockpile_gross:upside/caseNoneupside
/operating_model/cells/upside_2026q3_stockpile_gross:upside/formula/opNonemultiply
/operating_model/cells/upside_2026q3_stockpile_gross:upside/formula/refs/0Noneupside_2026q3_stockpile_revenue
/operating_model/cells/upside_2026q3_stockpile_gross:upside/formula/refs/1Noneupside_2026q3_stock_margin
/operating_model/cells/upside_2026q3_stockpile_gross:upside/idNoneupside_2026q3_stockpile_gross
/operating_model/cells/upside_2026q3_stockpile_gross:upside/kindNonederived
/operating_model/cells/upside_2026q3_stockpile_gross:upside/labelNoneStockpile gross contribution
/operating_model/cells/upside_2026q3_stockpile_gross:upside/periodNone2026Q3
/operating_model/cells/upside_2026q3_stockpile_gross:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q3_stockpile_gross:upside/valueNone0.0
/operating_model/cells/upside_2026q3_stockpile_revenue:upside/basisNoneSupply-qualified delivery assumption, not pro-rata recognition of the contract ceiling or minimum.
/operating_model/cells/upside_2026q3_stockpile_revenue:upside/caseNoneupside
/operating_model/cells/upside_2026q3_stockpile_revenue:upside/idNoneupside_2026q3_stockpile_revenue
/operating_model/cells/upside_2026q3_stockpile_revenue:upside/kindNoneassumption
/operating_model/cells/upside_2026q3_stockpile_revenue:upside/labelNoneAccepted incremental stockpile deliveries
/operating_model/cells/upside_2026q3_stockpile_revenue:upside/periodNone2026Q3
/operating_model/cells/upside_2026q3_stockpile_revenue:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q3_stockpile_revenue:upside/valueNone0.0
/operating_model/cells/upside_2026q3_strategic_cash:upside/basisNonePrepaid input consumption cash credits avoid charging both historical prepayment and subsequent COGS cash without adjustment.
/operating_model/cells/upside_2026q3_strategic_cash:upside/caseNoneupside
/operating_model/cells/upside_2026q3_strategic_cash:upside/formula/opNonesum
/operating_model/cells/upside_2026q3_strategic_cash:upside/formula/refs/0Noneupside_2026q3_blue_moon
/operating_model/cells/upside_2026q3_strategic_cash:upside/formula/refs/1Noneupside_2026q3_raw_prepay
/operating_model/cells/upside_2026q3_strategic_cash:upside/formula/refs/2Noneupside_2026q3_german_price
/operating_model/cells/upside_2026q3_strategic_cash:upside/idNoneupside_2026q3_strategic_cash
/operating_model/cells/upside_2026q3_strategic_cash:upside/kindNonederived
/operating_model/cells/upside_2026q3_strategic_cash:upside/labelNoneMinority prepayment and acquisition cash
/operating_model/cells/upside_2026q3_strategic_cash:upside/periodNone2026Q3
/operating_model/cells/upside_2026q3_strategic_cash:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q3_strategic_cash:upside/valueNone0.0
/operating_model/cells/upside_2026q4_blue_moon:upside/basisNoneNo consolidated Blue Moon sales or market-value gains.
/operating_model/cells/upside_2026q4_blue_moon:upside/caseNoneupside
/operating_model/cells/upside_2026q4_blue_moon:upside/formula/opNonemultiply
/operating_model/cells/upside_2026q4_blue_moon:upside/formula/refs/0Noneupside_2026q4_cad_commitment
/operating_model/cells/upside_2026q4_blue_moon:upside/formula/refs/1Noneupside_2026q4_cad_usd
/operating_model/cells/upside_2026q4_blue_moon:upside/idNoneupside_2026q4_blue_moon
/operating_model/cells/upside_2026q4_blue_moon:upside/kindNonederived
/operating_model/cells/upside_2026q4_blue_moon:upside/labelNoneBlue Moon minority investment cash
/operating_model/cells/upside_2026q4_blue_moon:upside/periodNone2026Q4
/operating_model/cells/upside_2026q4_blue_moon:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q4_blue_moon:upside/valueNone25.55
/operating_model/cells/upside_2026q4_business_investment:upside/basisNoneNo initial government receipt netted into capex.
/operating_model/cells/upside_2026q4_business_investment:upside/caseNoneupside
/operating_model/cells/upside_2026q4_business_investment:upside/formula/opNonesum
/operating_model/cells/upside_2026q4_business_investment:upside/formula/refs/0Noneupside_2026q4_capex
/operating_model/cells/upside_2026q4_business_investment:upside/formula/refs/1Noneupside_2026q4_strategic_cash
/operating_model/cells/upside_2026q4_business_investment:upside/idNoneupside_2026q4_business_investment
/operating_model/cells/upside_2026q4_business_investment:upside/kindNonederived
/operating_model/cells/upside_2026q4_business_investment:upside/labelNonePP&E and strategic deployment
/operating_model/cells/upside_2026q4_business_investment:upside/periodNone2026Q4
/operating_model/cells/upside_2026q4_business_investment:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q4_business_investment:upside/valueNone80.55
/operating_model/cells/upside_2026q4_cad_commitment:upside/basisNoneBinding 3.5M-unit commitment at CAD10, within 45 days of September 14; expected in Q4 fiscal 2026.
/operating_model/cells/upside_2026q4_cad_commitment:upside/caseNoneupside
/operating_model/cells/upside_2026q4_cad_commitment:upside/idNoneupside_2026q4_cad_commitment
/operating_model/cells/upside_2026q4_cad_commitment:upside/kindNoneassumption
/operating_model/cells/upside_2026q4_cad_commitment:upside/labelNoneCAD35M investment at 1:1 before FX
/operating_model/cells/upside_2026q4_cad_commitment:upside/periodNone2026Q4
/operating_model/cells/upside_2026q4_cad_commitment:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q4_cad_commitment:upside/valueNone35.0
/operating_model/cells/upside_2026q4_cad_usd:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2026q4_cad_usd:upside/caseNoneupside
/operating_model/cells/upside_2026q4_cad_usd:upside/idNoneupside_2026q4_cad_usd
/operating_model/cells/upside_2026q4_cad_usd:upside/kindNoneassumption
/operating_model/cells/upside_2026q4_cad_usd:upside/labelNoneUSD per CAD assumption
/operating_model/cells/upside_2026q4_cad_usd:upside/periodNone2026Q4
/operating_model/cells/upside_2026q4_cad_usd:upside/unitNoneratio
/operating_model/cells/upside_2026q4_cad_usd:upside/valueNone0.73
/operating_model/cells/upside_2026q4_capex:upside/basisNoneConsolidated external investment includes domestic expansion and controlled JV plant; internal capital contributions are not counted again.
/operating_model/cells/upside_2026q4_capex:upside/caseNoneupside
/operating_model/cells/upside_2026q4_capex:upside/idNoneupside_2026q4_capex
/operating_model/cells/upside_2026q4_capex:upside/kindNoneassumption
/operating_model/cells/upside_2026q4_capex:upside/labelNoneExternal PP&E domestic and controlled-JV cash
/operating_model/cells/upside_2026q4_capex:upside/periodNone2026Q4
/operating_model/cells/upside_2026q4_capex:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q4_capex:upside/valueNone30.0
/operating_model/cells/upside_2026q4_cash_after_funding:upside/basisNonePeriod flow only; no claim that preferred cash is freely distributable.
/operating_model/cells/upside_2026q4_cash_after_funding:upside/caseNoneupside
/operating_model/cells/upside_2026q4_cash_after_funding:upside/formula/opNonesum
/operating_model/cells/upside_2026q4_cash_after_funding:upside/formula/refs/0Noneupside_2026q4_cash_after_investing
/operating_model/cells/upside_2026q4_cash_after_funding:upside/formula/refs/1Noneupside_2026q4_preferred_funding
/operating_model/cells/upside_2026q4_cash_after_funding:upside/idNoneupside_2026q4_cash_after_funding
/operating_model/cells/upside_2026q4_cash_after_funding:upside/kindNonederived
/operating_model/cells/upside_2026q4_cash_after_funding:upside/labelNoneCash after preferred financing
/operating_model/cells/upside_2026q4_cash_after_funding:upside/periodNone2026Q4
/operating_model/cells/upside_2026q4_cash_after_funding:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q4_cash_after_funding:upside/valueNone-94.2324895
/operating_model/cells/upside_2026q4_cash_after_investing:upside/basisNoneBefore preferred funding and other capital allocation.
/operating_model/cells/upside_2026q4_cash_after_investing:upside/caseNoneupside
/operating_model/cells/upside_2026q4_cash_after_investing:upside/formula/opNonesubtract
/operating_model/cells/upside_2026q4_cash_after_investing:upside/formula/refs/0Noneupside_2026q4_cfo
/operating_model/cells/upside_2026q4_cash_after_investing:upside/formula/refs/1Noneupside_2026q4_business_investment
/operating_model/cells/upside_2026q4_cash_after_investing:upside/idNoneupside_2026q4_cash_after_investing
/operating_model/cells/upside_2026q4_cash_after_investing:upside/kindNonederived
/operating_model/cells/upside_2026q4_cash_after_investing:upside/labelNoneCash after business investing
/operating_model/cells/upside_2026q4_cash_after_investing:upside/periodNone2026Q4
/operating_model/cells/upside_2026q4_cash_after_investing:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q4_cash_after_investing:upside/valueNone-94.2324895
/operating_model/cells/upside_2026q4_cash_bonus:upside/basisNoneMaximum September award shown as a Q2 2027 cash/expense sensitivity, conditional on employment and measurement criteria; not SBC.
/operating_model/cells/upside_2026q4_cash_bonus:upside/caseNoneupside
/operating_model/cells/upside_2026q4_cash_bonus:upside/idNoneupside_2026q4_cash_bonus
/operating_model/cells/upside_2026q4_cash_bonus:upside/kindNoneassumption
/operating_model/cells/upside_2026q4_cash_bonus:upside/labelNonePerformance cash-bonus allowance
/operating_model/cells/upside_2026q4_cash_bonus:upside/periodNone2026Q4
/operating_model/cells/upside_2026q4_cash_bonus:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q4_cash_bonus:upside/valueNone0.0
/operating_model/cells/upside_2026q4_cash_interest:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2026q4_cash_interest:upside/caseNoneupside
/operating_model/cells/upside_2026q4_cash_interest:upside/idNoneupside_2026q4_cash_interest
/operating_model/cells/upside_2026q4_cash_interest:upside/kindNoneassumption
/operating_model/cells/upside_2026q4_cash_interest:upside/labelNoneCash debt interest
/operating_model/cells/upside_2026q4_cash_interest:upside/periodNone2026Q4
/operating_model/cells/upside_2026q4_cash_interest:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q4_cash_interest:upside/valueNone0.2
/operating_model/cells/upside_2026q4_cash_interest_income:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2026q4_cash_interest_income:upside/caseNoneupside
/operating_model/cells/upside_2026q4_cash_interest_income:upside/idNoneupside_2026q4_cash_interest_income
/operating_model/cells/upside_2026q4_cash_interest_income:upside/kindNoneassumption
/operating_model/cells/upside_2026q4_cash_interest_income:upside/labelNoneCash interest income
/operating_model/cells/upside_2026q4_cash_interest_income:upside/periodNone2026Q4
/operating_model/cells/upside_2026q4_cash_interest_income:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q4_cash_interest_income:upside/valueNone2.0
/operating_model/cells/upside_2026q4_cash_opex:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2026q4_cash_opex:upside/caseNoneupside
/operating_model/cells/upside_2026q4_cash_opex:upside/idNoneupside_2026q4_cash_opex
/operating_model/cells/upside_2026q4_cash_opex:upside/kindNoneassumption
/operating_model/cells/upside_2026q4_cash_opex:upside/labelNoneCash corporate R&D and selling expense
/operating_model/cells/upside_2026q4_cash_opex:upside/periodNone2026Q4
/operating_model/cells/upside_2026q4_cash_opex:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q4_cash_opex:upside/valueNone13.1
/operating_model/cells/upside_2026q4_cash_tax:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2026q4_cash_tax:upside/caseNoneupside
/operating_model/cells/upside_2026q4_cash_tax:upside/idNoneupside_2026q4_cash_tax
/operating_model/cells/upside_2026q4_cash_tax:upside/kindNoneassumption
/operating_model/cells/upside_2026q4_cash_tax:upside/labelNoneCash tax
/operating_model/cells/upside_2026q4_cash_tax:upside/periodNone2026Q4
/operating_model/cells/upside_2026q4_cash_tax:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q4_cash_tax:upside/valueNone2.5
/operating_model/cells/upside_2026q4_cash_uses:upside/basisNoneProject input prepayments are shown separately in strategic cash.
/operating_model/cells/upside_2026q4_cash_uses:upside/caseNoneupside
/operating_model/cells/upside_2026q4_cash_uses:upside/formula/opNonesum
/operating_model/cells/upside_2026q4_cash_uses:upside/formula/refs/0Noneupside_2026q4_cash_tax
/operating_model/cells/upside_2026q4_cash_uses:upside/formula/refs/1Noneupside_2026q4_cash_interest
/operating_model/cells/upside_2026q4_cash_uses:upside/formula/refs/2Noneupside_2026q4_inventory_other_cash
/operating_model/cells/upside_2026q4_cash_uses:upside/formula/refs/3Noneupside_2026q4_pass_inventory_cash
/operating_model/cells/upside_2026q4_cash_uses:upside/idNoneupside_2026q4_cash_uses
/operating_model/cells/upside_2026q4_cash_uses:upside/kindNonederived
/operating_model/cells/upside_2026q4_cash_uses:upside/labelNoneTax interest and working capital
/operating_model/cells/upside_2026q4_cash_uses:upside/periodNone2026Q4
/operating_model/cells/upside_2026q4_cash_uses:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q4_cash_uses:upside/valueNone23.2
/operating_model/cells/upside_2026q4_cfo:upside/basisNoneNo current-period preferred cash dividend.
/operating_model/cells/upside_2026q4_cfo:upside/caseNoneupside
/operating_model/cells/upside_2026q4_cfo:upside/formula/opNonesubtract
/operating_model/cells/upside_2026q4_cfo:upside/formula/refs/0Noneupside_2026q4_operating_cash_earnings
/operating_model/cells/upside_2026q4_cfo:upside/formula/refs/1Noneupside_2026q4_cash_uses
/operating_model/cells/upside_2026q4_cfo:upside/idNoneupside_2026q4_cfo
/operating_model/cells/upside_2026q4_cfo:upside/kindNonederived
/operating_model/cells/upside_2026q4_cfo:upside/labelNoneOperating cash flow proxy
/operating_model/cells/upside_2026q4_cfo:upside/periodNone2026Q4
/operating_model/cells/upside_2026q4_cfo:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q4_cfo:upside/valueNone-13.682489499999999
/operating_model/cells/upside_2026q4_core_margin:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2026q4_core_margin:upside/caseNoneupside
/operating_model/cells/upside_2026q4_core_margin:upside/idNoneupside_2026q4_core_margin
/operating_model/cells/upside_2026q4_core_margin:upside/kindNoneassumption
/operating_model/cells/upside_2026q4_core_margin:upside/labelNoneCore gross margin
/operating_model/cells/upside_2026q4_core_margin:upside/periodNone2026Q4
/operating_model/cells/upside_2026q4_core_margin:upside/unitNoneratio
/operating_model/cells/upside_2026q4_core_margin:upside/valueNone0.27
/operating_model/cells/upside_2026q4_core_revenue:upside/basisNoneCurrent manufacturing and conditional acquired operations; stockpile is separate.
/operating_model/cells/upside_2026q4_core_revenue:upside/caseNoneupside
/operating_model/cells/upside_2026q4_core_revenue:upside/formula/opNonesum
/operating_model/cells/upside_2026q4_core_revenue:upside/formula/refs/0Noneupside_2026q4_legacy_demand
/operating_model/cells/upside_2026q4_core_revenue:upside/formula/refs/1Noneupside_2026q4_metal_pass
/operating_model/cells/upside_2026q4_core_revenue:upside/formula/refs/2Noneupside_2026q4_german_revenue
/operating_model/cells/upside_2026q4_core_revenue:upside/idNoneupside_2026q4_core_revenue
/operating_model/cells/upside_2026q4_core_revenue:upside/kindNonederived
/operating_model/cells/upside_2026q4_core_revenue:upside/labelNoneCore and acquired revenue
/operating_model/cells/upside_2026q4_core_revenue:upside/periodNone2026Q4
/operating_model/cells/upside_2026q4_core_revenue:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q4_core_revenue:upside/valueNone81.36115
/operating_model/cells/upside_2026q4_da:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2026q4_da:upside/caseNoneupside
/operating_model/cells/upside_2026q4_da:upside/idNoneupside_2026q4_da
/operating_model/cells/upside_2026q4_da:upside/kindNoneassumption
/operating_model/cells/upside_2026q4_da:upside/labelNoneOperating D&A
/operating_model/cells/upside_2026q4_da:upside/periodNone2026Q4
/operating_model/cells/upside_2026q4_da:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q4_da:upside/valueNone2.5
/operating_model/cells/upside_2026q4_demand_index:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2026q4_demand_index:upside/caseNoneupside
/operating_model/cells/upside_2026q4_demand_index:upside/idNoneupside_2026q4_demand_index
/operating_model/cells/upside_2026q4_demand_index:upside/kindNoneassumption
/operating_model/cells/upside_2026q4_demand_index:upside/labelNoneNet volume and mix versus Q2
/operating_model/cells/upside_2026q4_demand_index:upside/periodNone2026Q4
/operating_model/cells/upside_2026q4_demand_index:upside/unitNoneratio
/operating_model/cells/upside_2026q4_demand_index:upside/valueNone1.15
/operating_model/cells/upside_2026q4_eur_usd:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2026q4_eur_usd:upside/caseNoneupside
/operating_model/cells/upside_2026q4_eur_usd:upside/idNoneupside_2026q4_eur_usd
/operating_model/cells/upside_2026q4_eur_usd:upside/kindNoneassumption
/operating_model/cells/upside_2026q4_eur_usd:upside/labelNoneUSD per EUR conversion
/operating_model/cells/upside_2026q4_eur_usd:upside/periodNone2026Q4
/operating_model/cells/upside_2026q4_eur_usd:upside/unitNoneratio
/operating_model/cells/upside_2026q4_eur_usd:upside/valueNone1.08
/operating_model/cells/upside_2026q4_funding_weight:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2026q4_funding_weight:upside/caseNoneupside
/operating_model/cells/upside_2026q4_funding_weight:upside/idNoneupside_2026q4_funding_weight
/operating_model/cells/upside_2026q4_funding_weight:upside/kindNoneassumption
/operating_model/cells/upside_2026q4_funding_weight:upside/labelNoneNew funding quarter weight
/operating_model/cells/upside_2026q4_funding_weight:upside/periodNone2026Q4
/operating_model/cells/upside_2026q4_funding_weight:upside/unitNoneratio
/operating_model/cells/upside_2026q4_funding_weight:upside/valueNone0.25
/operating_model/cells/upside_2026q4_german_eur_amount:upside/basisNoneDesk working capital and net pension assumptions in contractual price formula; signed amount can be negative.
/operating_model/cells/upside_2026q4_german_eur_amount:upside/caseNoneupside
/operating_model/cells/upside_2026q4_german_eur_amount:upside/idNoneupside_2026q4_german_eur_amount
/operating_model/cells/upside_2026q4_german_eur_amount:upside/kindNoneassumption
/operating_model/cells/upside_2026q4_german_eur_amount:upside/labelNoneGerman net price sensitivity, EUR millions represented at 1:1 before FX
/operating_model/cells/upside_2026q4_german_eur_amount:upside/periodNone2026Q4
/operating_model/cells/upside_2026q4_german_eur_amount:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q4_german_eur_amount:upside/valueNone0.0
/operating_model/cells/upside_2026q4_german_gross:upside/basisNoneUnverified post-close margin.
/operating_model/cells/upside_2026q4_german_gross:upside/caseNoneupside
/operating_model/cells/upside_2026q4_german_gross:upside/formula/opNonemultiply
/operating_model/cells/upside_2026q4_german_gross:upside/formula/refs/0Noneupside_2026q4_german_revenue
/operating_model/cells/upside_2026q4_german_gross:upside/formula/refs/1Noneupside_2026q4_german_margin
/operating_model/cells/upside_2026q4_german_gross:upside/idNoneupside_2026q4_german_gross
/operating_model/cells/upside_2026q4_german_gross:upside/kindNonederived
/operating_model/cells/upside_2026q4_german_gross:upside/labelNoneGerman gross contribution
/operating_model/cells/upside_2026q4_german_gross:upside/periodNone2026Q4
/operating_model/cells/upside_2026q4_german_gross:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q4_german_gross:upside/valueNone0.0
/operating_model/cells/upside_2026q4_german_margin:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2026q4_german_margin:upside/caseNoneupside
/operating_model/cells/upside_2026q4_german_margin:upside/idNoneupside_2026q4_german_margin
/operating_model/cells/upside_2026q4_german_margin:upside/kindNoneassumption
/operating_model/cells/upside_2026q4_german_margin:upside/labelNoneAcquired gross margin
/operating_model/cells/upside_2026q4_german_margin:upside/periodNone2026Q4
/operating_model/cells/upside_2026q4_german_margin:upside/unitNoneratio
/operating_model/cells/upside_2026q4_german_margin:upside/valueNone0.18
/operating_model/cells/upside_2026q4_german_price:upside/basisNoneScenario only; metal inventory and pension measurement can materially change final consideration.
/operating_model/cells/upside_2026q4_german_price:upside/caseNoneupside
/operating_model/cells/upside_2026q4_german_price:upside/formula/opNonemultiply
/operating_model/cells/upside_2026q4_german_price:upside/formula/refs/0Noneupside_2026q4_german_eur_amount
/operating_model/cells/upside_2026q4_german_price:upside/formula/refs/1Noneupside_2026q4_eur_usd
/operating_model/cells/upside_2026q4_german_price:upside/idNoneupside_2026q4_german_price
/operating_model/cells/upside_2026q4_german_price:upside/kindNonederived
/operating_model/cells/upside_2026q4_german_price:upside/labelNoneConditional German closing cash in USD
/operating_model/cells/upside_2026q4_german_price:upside/periodNone2026Q4
/operating_model/cells/upside_2026q4_german_price:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q4_german_price:upside/valueNone0.0
/operating_model/cells/upside_2026q4_german_revenue:upside/basisNoneDesk acquired-period contribution only after assumed closing; transaction remains conditional.
/operating_model/cells/upside_2026q4_german_revenue:upside/caseNoneupside
/operating_model/cells/upside_2026q4_german_revenue:upside/idNoneupside_2026q4_german_revenue
/operating_model/cells/upside_2026q4_german_revenue:upside/kindNoneassumption
/operating_model/cells/upside_2026q4_german_revenue:upside/labelNoneConditional acquired German revenue
/operating_model/cells/upside_2026q4_german_revenue:upside/periodNone2026Q4
/operating_model/cells/upside_2026q4_german_revenue:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q4_german_revenue:upside/valueNone0.0
/operating_model/cells/upside_2026q4_gross_profit:upside/basisNoneCompany forecasts are not supplied for the new program.
/operating_model/cells/upside_2026q4_gross_profit:upside/caseNoneupside
/operating_model/cells/upside_2026q4_gross_profit:upside/formula/opNonesum
/operating_model/cells/upside_2026q4_gross_profit:upside/formula/refs/0Noneupside_2026q4_legacy_gross
/operating_model/cells/upside_2026q4_gross_profit:upside/formula/refs/1Noneupside_2026q4_price_gross
/operating_model/cells/upside_2026q4_gross_profit:upside/formula/refs/2Noneupside_2026q4_german_gross
/operating_model/cells/upside_2026q4_gross_profit:upside/formula/refs/3Noneupside_2026q4_stockpile_gross
/operating_model/cells/upside_2026q4_gross_profit:upside/idNoneupside_2026q4_gross_profit
/operating_model/cells/upside_2026q4_gross_profit:upside/kindNonederived
/operating_model/cells/upside_2026q4_gross_profit:upside/labelNoneGross profit proxy
/operating_model/cells/upside_2026q4_gross_profit:upside/periodNone2026Q4
/operating_model/cells/upside_2026q4_gross_profit:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q4_gross_profit:upside/valueNone20.6175105
/operating_model/cells/upside_2026q4_inventory_other_cash:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2026q4_inventory_other_cash:upside/caseNoneupside
/operating_model/cells/upside_2026q4_inventory_other_cash:upside/idNoneupside_2026q4_inventory_other_cash
/operating_model/cells/upside_2026q4_inventory_other_cash:upside/kindNoneassumption
/operating_model/cells/upside_2026q4_inventory_other_cash:upside/labelNoneInventory and other working-capital use
/operating_model/cells/upside_2026q4_inventory_other_cash:upside/periodNone2026Q4
/operating_model/cells/upside_2026q4_inventory_other_cash:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q4_inventory_other_cash:upside/valueNone18.0
/operating_model/cells/upside_2026q4_inventory_price_fraction:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2026q4_inventory_price_fraction:upside/caseNoneupside
/operating_model/cells/upside_2026q4_inventory_price_fraction:upside/idNoneupside_2026q4_inventory_price_fraction
/operating_model/cells/upside_2026q4_inventory_price_fraction:upside/kindNoneassumption
/operating_model/cells/upside_2026q4_inventory_price_fraction:upside/labelNonePrice-related inventory funding share
/operating_model/cells/upside_2026q4_inventory_price_fraction:upside/periodNone2026Q4
/operating_model/cells/upside_2026q4_inventory_price_fraction:upside/unitNoneratio
/operating_model/cells/upside_2026q4_inventory_price_fraction:upside/valueNone0.5
/operating_model/cells/upside_2026q4_legacy_demand:upside/basisNoneDemand separated from incremental metal-price pass-through.
/operating_model/cells/upside_2026q4_legacy_demand:upside/caseNoneupside
/operating_model/cells/upside_2026q4_legacy_demand:upside/formula/opNonemultiply
/operating_model/cells/upside_2026q4_legacy_demand:upside/formula/refs/0Noneq2_revenue
/operating_model/cells/upside_2026q4_legacy_demand:upside/formula/refs/1Noneupside_2026q4_demand_index
/operating_model/cells/upside_2026q4_legacy_demand:upside/idNoneupside_2026q4_legacy_demand
/operating_model/cells/upside_2026q4_legacy_demand:upside/kindNonederived
/operating_model/cells/upside_2026q4_legacy_demand:upside/labelNoneLegacy revenue at reference metal prices
/operating_model/cells/upside_2026q4_legacy_demand:upside/periodNone2026Q4
/operating_model/cells/upside_2026q4_legacy_demand:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q4_legacy_demand:upside/valueNone76.36115
/operating_model/cells/upside_2026q4_legacy_gross:upside/basisNoneIndependent operating-margin scenario.
/operating_model/cells/upside_2026q4_legacy_gross:upside/caseNoneupside
/operating_model/cells/upside_2026q4_legacy_gross:upside/formula/opNonemultiply
/operating_model/cells/upside_2026q4_legacy_gross:upside/formula/refs/0Noneupside_2026q4_legacy_demand
/operating_model/cells/upside_2026q4_legacy_gross:upside/formula/refs/1Noneupside_2026q4_core_margin
/operating_model/cells/upside_2026q4_legacy_gross:upside/idNoneupside_2026q4_legacy_gross
/operating_model/cells/upside_2026q4_legacy_gross:upside/kindNonederived
/operating_model/cells/upside_2026q4_legacy_gross:upside/labelNoneLegacy gross profit
/operating_model/cells/upside_2026q4_legacy_gross:upside/periodNone2026Q4
/operating_model/cells/upside_2026q4_legacy_gross:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q4_legacy_gross:upside/valueNone20.6175105
/operating_model/cells/upside_2026q4_metal_cost:upside/basisNoneAt 100% pass-through, higher commodity prices do not create gross profit.
/operating_model/cells/upside_2026q4_metal_cost:upside/caseNoneupside
/operating_model/cells/upside_2026q4_metal_cost:upside/formula/opNonemultiply
/operating_model/cells/upside_2026q4_metal_cost:upside/formula/refs/0Noneupside_2026q4_metal_pass
/operating_model/cells/upside_2026q4_metal_cost:upside/formula/refs/1Noneupside_2026q4_pass_cost_ratio
/operating_model/cells/upside_2026q4_metal_cost:upside/idNoneupside_2026q4_metal_cost
/operating_model/cells/upside_2026q4_metal_cost:upside/kindNonederived
/operating_model/cells/upside_2026q4_metal_cost:upside/labelNoneMatched input price cost
/operating_model/cells/upside_2026q4_metal_cost:upside/periodNone2026Q4
/operating_model/cells/upside_2026q4_metal_cost:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q4_metal_cost:upside/valueNone5.0
/operating_model/cells/upside_2026q4_metal_pass:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2026q4_metal_pass:upside/caseNoneupside
/operating_model/cells/upside_2026q4_metal_pass:upside/idNoneupside_2026q4_metal_pass
/operating_model/cells/upside_2026q4_metal_pass:upside/kindNoneassumption
/operating_model/cells/upside_2026q4_metal_pass:upside/labelNoneIncremental raw-material price pass-through
/operating_model/cells/upside_2026q4_metal_pass:upside/periodNone2026Q4
/operating_model/cells/upside_2026q4_metal_pass:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q4_metal_pass:upside/valueNone5.0
/operating_model/cells/upside_2026q4_new_pik_basis:upside/basisNoneInitial 19-day approximate accrual; later tranches assumed late-quarter.
/operating_model/cells/upside_2026q4_new_pik_basis:upside/caseNoneupside
/operating_model/cells/upside_2026q4_new_pik_basis:upside/formula/opNonemultiply
/operating_model/cells/upside_2026q4_new_pik_basis:upside/formula/refs/0Noneupside_2026q4_preferred_funding
/operating_model/cells/upside_2026q4_new_pik_basis:upside/formula/refs/1Noneupside_2026q4_funding_weight
/operating_model/cells/upside_2026q4_new_pik_basis:upside/idNoneupside_2026q4_new_pik_basis
/operating_model/cells/upside_2026q4_new_pik_basis:upside/kindNonederived
/operating_model/cells/upside_2026q4_new_pik_basis:upside/labelNoneNew funding weighted for partial quarter
/operating_model/cells/upside_2026q4_new_pik_basis:upside/periodNone2026Q4
/operating_model/cells/upside_2026q4_new_pik_basis:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q4_new_pik_basis:upside/valueNone0.0
/operating_model/cells/upside_2026q4_operating_cash_earnings:upside/basisNoneNo debt forgiveness or financing gain.
/operating_model/cells/upside_2026q4_operating_cash_earnings:upside/caseNoneupside
/operating_model/cells/upside_2026q4_operating_cash_earnings:upside/formula/opNonesum
/operating_model/cells/upside_2026q4_operating_cash_earnings:upside/formula/refs/0Noneupside_2026q4_operating_income
/operating_model/cells/upside_2026q4_operating_cash_earnings:upside/formula/refs/1Noneupside_2026q4_sbc
/operating_model/cells/upside_2026q4_operating_cash_earnings:upside/formula/refs/2Noneupside_2026q4_da
/operating_model/cells/upside_2026q4_operating_cash_earnings:upside/formula/refs/3Noneupside_2026q4_cash_interest_income
/operating_model/cells/upside_2026q4_operating_cash_earnings:upside/idNoneupside_2026q4_operating_cash_earnings
/operating_model/cells/upside_2026q4_operating_cash_earnings:upside/kindNonederived
/operating_model/cells/upside_2026q4_operating_cash_earnings:upside/labelNoneOperating earnings plus noncash and interest
/operating_model/cells/upside_2026q4_operating_cash_earnings:upside/periodNone2026Q4
/operating_model/cells/upside_2026q4_operating_cash_earnings:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q4_operating_cash_earnings:upside/valueNone9.5175105
/operating_model/cells/upside_2026q4_operating_income:upside/basisNonePreferred PIK is below operating economics, not operating expense.
/operating_model/cells/upside_2026q4_operating_income:upside/caseNoneupside
/operating_model/cells/upside_2026q4_operating_income:upside/formula/opNonesubtract
/operating_model/cells/upside_2026q4_operating_income:upside/formula/refs/0Noneupside_2026q4_gross_profit
/operating_model/cells/upside_2026q4_operating_income:upside/formula/refs/1Noneupside_2026q4_opex
/operating_model/cells/upside_2026q4_operating_income:upside/idNoneupside_2026q4_operating_income
/operating_model/cells/upside_2026q4_operating_income:upside/kindNonederived
/operating_model/cells/upside_2026q4_operating_income:upside/labelNoneOperating income proxy
/operating_model/cells/upside_2026q4_operating_income:upside/periodNone2026Q4
/operating_model/cells/upside_2026q4_operating_income:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q4_operating_income:upside/valueNone2.817510500000001
/operating_model/cells/upside_2026q4_opex:upside/basisNoneNo repeat of H1 IPO SBC as if recurring every quarter.
/operating_model/cells/upside_2026q4_opex:upside/caseNoneupside
/operating_model/cells/upside_2026q4_opex:upside/formula/opNonesum
/operating_model/cells/upside_2026q4_opex:upside/formula/refs/0Noneupside_2026q4_cash_opex
/operating_model/cells/upside_2026q4_opex:upside/formula/refs/1Noneupside_2026q4_sbc
/operating_model/cells/upside_2026q4_opex:upside/formula/refs/2Noneupside_2026q4_da
/operating_model/cells/upside_2026q4_opex:upside/formula/refs/3Noneupside_2026q4_cash_bonus
/operating_model/cells/upside_2026q4_opex:upside/idNoneupside_2026q4_opex
/operating_model/cells/upside_2026q4_opex:upside/kindNonederived
/operating_model/cells/upside_2026q4_opex:upside/labelNoneCash overhead SBC and D&A
/operating_model/cells/upside_2026q4_opex:upside/periodNone2026Q4
/operating_model/cells/upside_2026q4_opex:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q4_opex:upside/valueNone17.8
/operating_model/cells/upside_2026q4_pass_cost_ratio:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2026q4_pass_cost_ratio:upside/caseNoneupside
/operating_model/cells/upside_2026q4_pass_cost_ratio:upside/idNoneupside_2026q4_pass_cost_ratio
/operating_model/cells/upside_2026q4_pass_cost_ratio:upside/kindNoneassumption
/operating_model/cells/upside_2026q4_pass_cost_ratio:upside/labelNoneInput-cost share of pass-through
/operating_model/cells/upside_2026q4_pass_cost_ratio:upside/periodNone2026Q4
/operating_model/cells/upside_2026q4_pass_cost_ratio:upside/unitNoneratio
/operating_model/cells/upside_2026q4_pass_cost_ratio:upside/valueNone1.0
/operating_model/cells/upside_2026q4_pass_inventory_cash:upside/basisNoneCommodity inflation can tie up cash despite matched gross profit.
/operating_model/cells/upside_2026q4_pass_inventory_cash:upside/caseNoneupside
/operating_model/cells/upside_2026q4_pass_inventory_cash:upside/formula/opNonemultiply
/operating_model/cells/upside_2026q4_pass_inventory_cash:upside/formula/refs/0Noneupside_2026q4_metal_pass
/operating_model/cells/upside_2026q4_pass_inventory_cash:upside/formula/refs/1Noneupside_2026q4_inventory_price_fraction
/operating_model/cells/upside_2026q4_pass_inventory_cash:upside/idNoneupside_2026q4_pass_inventory_cash
/operating_model/cells/upside_2026q4_pass_inventory_cash:upside/kindNonederived
/operating_model/cells/upside_2026q4_pass_inventory_cash:upside/labelNoneAdditional price-related inventory funding
/operating_model/cells/upside_2026q4_pass_inventory_cash:upside/periodNone2026Q4
/operating_model/cells/upside_2026q4_pass_inventory_cash:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q4_pass_inventory_cash:upside/valueNone2.5
/operating_model/cells/upside_2026q4_pik_basis:upside/basisNoneExisting balance includes prior PIK compounding.
/operating_model/cells/upside_2026q4_pik_basis:upside/caseNoneupside
/operating_model/cells/upside_2026q4_pik_basis:upside/formula/opNonesum
/operating_model/cells/upside_2026q4_pik_basis:upside/formula/refs/0Noneupside_2026q3_preferred_ending
/operating_model/cells/upside_2026q4_pik_basis:upside/formula/refs/1Noneupside_2026q4_new_pik_basis
/operating_model/cells/upside_2026q4_pik_basis:upside/idNoneupside_2026q4_pik_basis
/operating_model/cells/upside_2026q4_pik_basis:upside/kindNonederived
/operating_model/cells/upside_2026q4_pik_basis:upside/labelNoneWeighted preferred claim for PIK
/operating_model/cells/upside_2026q4_pik_basis:upside/periodNone2026Q4
/operating_model/cells/upside_2026q4_pik_basis:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q4_pik_basis:upside/valueNone200.57417582417582
/operating_model/cells/upside_2026q4_preferred_ending:upside/basisNoneStock balance, not an annual flow; ignores warrant-linked liquidation preference reductions.
/operating_model/cells/upside_2026q4_preferred_ending:upside/caseNoneupside
/operating_model/cells/upside_2026q4_preferred_ending:upside/formula/opNonesum
/operating_model/cells/upside_2026q4_preferred_ending:upside/formula/refs/0Noneupside_2026q3_preferred_ending
/operating_model/cells/upside_2026q4_preferred_ending:upside/formula/refs/1Noneupside_2026q4_preferred_funding
/operating_model/cells/upside_2026q4_preferred_ending:upside/formula/refs/2Noneupside_2026q4_preferred_pik
/operating_model/cells/upside_2026q4_preferred_ending:upside/idNoneupside_2026q4_preferred_ending
/operating_model/cells/upside_2026q4_preferred_ending:upside/kindNonederived
/operating_model/cells/upside_2026q4_preferred_ending:upside/labelNoneEnding preferred claim before warrant adjustments
/operating_model/cells/upside_2026q4_preferred_ending:upside/periodNone2026Q4
/operating_model/cells/upside_2026q4_preferred_ending:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q4_preferred_ending:upside/valueNone203.33207074175823
/operating_model/cells/upside_2026q4_preferred_funding:upside/basisNoneInitial $200M received September 14; any later $50M receipt is conditional and respects six-month tranche availability.
/operating_model/cells/upside_2026q4_preferred_funding:upside/caseNoneupside
/operating_model/cells/upside_2026q4_preferred_funding:upside/idNoneupside_2026q4_preferred_funding
/operating_model/cells/upside_2026q4_preferred_funding:upside/kindNoneassumption
/operating_model/cells/upside_2026q4_preferred_funding:upside/labelNonePreferred financing receipts
/operating_model/cells/upside_2026q4_preferred_funding:upside/periodNone2026Q4
/operating_model/cells/upside_2026q4_preferred_funding:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q4_preferred_funding:upside/valueNone0.0
/operating_model/cells/upside_2026q4_preferred_pik:upside/basisNoneNoncash senior claim; no deduction from current-period cash.
/operating_model/cells/upside_2026q4_preferred_pik:upside/caseNoneupside
/operating_model/cells/upside_2026q4_preferred_pik:upside/formula/opNonemultiply
/operating_model/cells/upside_2026q4_preferred_pik:upside/formula/refs/0Noneupside_2026q4_pik_basis
/operating_model/cells/upside_2026q4_preferred_pik:upside/formula/refs/1Nonepreferred_rate
/operating_model/cells/upside_2026q4_preferred_pik:upside/formula/refs/2Noneupside_2026q4_quarter_year
/operating_model/cells/upside_2026q4_preferred_pik:upside/idNoneupside_2026q4_preferred_pik
/operating_model/cells/upside_2026q4_preferred_pik:upside/kindNonederived
/operating_model/cells/upside_2026q4_preferred_pik:upside/labelNonePreferred economic PIK accrual
/operating_model/cells/upside_2026q4_preferred_pik:upside/periodNone2026Q4
/operating_model/cells/upside_2026q4_preferred_pik:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q4_preferred_pik:upside/valueNone2.7578949175824174
/operating_model/cells/upside_2026q4_price_gross:upside/basisNoneMismatch sensitivity is explicit.
/operating_model/cells/upside_2026q4_price_gross:upside/caseNoneupside
/operating_model/cells/upside_2026q4_price_gross:upside/formula/opNonesubtract
/operating_model/cells/upside_2026q4_price_gross:upside/formula/refs/0Noneupside_2026q4_metal_pass
/operating_model/cells/upside_2026q4_price_gross:upside/formula/refs/1Noneupside_2026q4_metal_cost
/operating_model/cells/upside_2026q4_price_gross:upside/idNoneupside_2026q4_price_gross
/operating_model/cells/upside_2026q4_price_gross:upside/kindNonederived
/operating_model/cells/upside_2026q4_price_gross:upside/labelNoneIncremental price pass-through gross profit
/operating_model/cells/upside_2026q4_price_gross:upside/periodNone2026Q4
/operating_model/cells/upside_2026q4_price_gross:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q4_price_gross:upside/valueNone0.0
/operating_model/cells/upside_2026q4_quarter_year:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2026q4_quarter_year:upside/caseNoneupside
/operating_model/cells/upside_2026q4_quarter_year:upside/idNoneupside_2026q4_quarter_year
/operating_model/cells/upside_2026q4_quarter_year:upside/kindNoneassumption
/operating_model/cells/upside_2026q4_quarter_year:upside/labelNoneQuarter-year fraction
/operating_model/cells/upside_2026q4_quarter_year:upside/periodNone2026Q4
/operating_model/cells/upside_2026q4_quarter_year:upside/unitNoneratio
/operating_model/cells/upside_2026q4_quarter_year:upside/valueNone0.25
/operating_model/cells/upside_2026q4_raw_prepay:upside/basisNoneDesk first and milestone-conditioned second $25M funding; later negative amounts are consumption/settlement credits, not new revenue.
/operating_model/cells/upside_2026q4_raw_prepay:upside/caseNoneupside
/operating_model/cells/upside_2026q4_raw_prepay:upside/idNoneupside_2026q4_raw_prepay
/operating_model/cells/upside_2026q4_raw_prepay:upside/kindNoneassumption
/operating_model/cells/upside_2026q4_raw_prepay:upside/labelNoneNet new raw-material prepayments
/operating_model/cells/upside_2026q4_raw_prepay:upside/periodNone2026Q4
/operating_model/cells/upside_2026q4_raw_prepay:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q4_raw_prepay:upside/valueNone25.0
/operating_model/cells/upside_2026q4_revenue:upside/basisNoneNo recognition of preferred funding as revenue.
/operating_model/cells/upside_2026q4_revenue:upside/caseNoneupside
/operating_model/cells/upside_2026q4_revenue:upside/formula/opNonesum
/operating_model/cells/upside_2026q4_revenue:upside/formula/refs/0Noneupside_2026q4_core_revenue
/operating_model/cells/upside_2026q4_revenue:upside/formula/refs/1Noneupside_2026q4_stockpile_revenue
/operating_model/cells/upside_2026q4_revenue:upside/idNoneupside_2026q4_revenue
/operating_model/cells/upside_2026q4_revenue:upside/kindNonederived
/operating_model/cells/upside_2026q4_revenue:upside/labelNoneTotal revenue
/operating_model/cells/upside_2026q4_revenue:upside/periodNone2026Q4
/operating_model/cells/upside_2026q4_revenue:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q4_revenue:upside/valueNone81.36115
/operating_model/cells/upside_2026q4_sbc:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2026q4_sbc:upside/caseNoneupside
/operating_model/cells/upside_2026q4_sbc:upside/idNoneupside_2026q4_sbc
/operating_model/cells/upside_2026q4_sbc:upside/kindNoneassumption
/operating_model/cells/upside_2026q4_sbc:upside/labelNoneSBC
/operating_model/cells/upside_2026q4_sbc:upside/periodNone2026Q4
/operating_model/cells/upside_2026q4_sbc:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q4_sbc:upside/valueNone2.2
/operating_model/cells/upside_2026q4_stock_margin:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2026q4_stock_margin:upside/caseNoneupside
/operating_model/cells/upside_2026q4_stock_margin:upside/idNoneupside_2026q4_stock_margin
/operating_model/cells/upside_2026q4_stock_margin:upside/kindNoneassumption
/operating_model/cells/upside_2026q4_stock_margin:upside/labelNoneStockpile gross margin
/operating_model/cells/upside_2026q4_stock_margin:upside/periodNone2026Q4
/operating_model/cells/upside_2026q4_stock_margin:upside/unitNoneratio
/operating_model/cells/upside_2026q4_stock_margin:upside/valueNone0.12
/operating_model/cells/upside_2026q4_stockpile_gross:upside/basisNoneProcured input cost is reflected in margin; no unsupported floor-price assumption.
/operating_model/cells/upside_2026q4_stockpile_gross:upside/caseNoneupside
/operating_model/cells/upside_2026q4_stockpile_gross:upside/formula/opNonemultiply
/operating_model/cells/upside_2026q4_stockpile_gross:upside/formula/refs/0Noneupside_2026q4_stockpile_revenue
/operating_model/cells/upside_2026q4_stockpile_gross:upside/formula/refs/1Noneupside_2026q4_stock_margin
/operating_model/cells/upside_2026q4_stockpile_gross:upside/idNoneupside_2026q4_stockpile_gross
/operating_model/cells/upside_2026q4_stockpile_gross:upside/kindNonederived
/operating_model/cells/upside_2026q4_stockpile_gross:upside/labelNoneStockpile gross contribution
/operating_model/cells/upside_2026q4_stockpile_gross:upside/periodNone2026Q4
/operating_model/cells/upside_2026q4_stockpile_gross:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q4_stockpile_gross:upside/valueNone0.0
/operating_model/cells/upside_2026q4_stockpile_revenue:upside/basisNoneSupply-qualified delivery assumption, not pro-rata recognition of the contract ceiling or minimum.
/operating_model/cells/upside_2026q4_stockpile_revenue:upside/caseNoneupside
/operating_model/cells/upside_2026q4_stockpile_revenue:upside/idNoneupside_2026q4_stockpile_revenue
/operating_model/cells/upside_2026q4_stockpile_revenue:upside/kindNoneassumption
/operating_model/cells/upside_2026q4_stockpile_revenue:upside/labelNoneAccepted incremental stockpile deliveries
/operating_model/cells/upside_2026q4_stockpile_revenue:upside/periodNone2026Q4
/operating_model/cells/upside_2026q4_stockpile_revenue:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q4_stockpile_revenue:upside/valueNone0.0
/operating_model/cells/upside_2026q4_strategic_cash:upside/basisNonePrepaid input consumption cash credits avoid charging both historical prepayment and subsequent COGS cash without adjustment.
/operating_model/cells/upside_2026q4_strategic_cash:upside/caseNoneupside
/operating_model/cells/upside_2026q4_strategic_cash:upside/formula/opNonesum
/operating_model/cells/upside_2026q4_strategic_cash:upside/formula/refs/0Noneupside_2026q4_blue_moon
/operating_model/cells/upside_2026q4_strategic_cash:upside/formula/refs/1Noneupside_2026q4_raw_prepay
/operating_model/cells/upside_2026q4_strategic_cash:upside/formula/refs/2Noneupside_2026q4_german_price
/operating_model/cells/upside_2026q4_strategic_cash:upside/idNoneupside_2026q4_strategic_cash
/operating_model/cells/upside_2026q4_strategic_cash:upside/kindNonederived
/operating_model/cells/upside_2026q4_strategic_cash:upside/labelNoneMinority prepayment and acquisition cash
/operating_model/cells/upside_2026q4_strategic_cash:upside/periodNone2026Q4
/operating_model/cells/upside_2026q4_strategic_cash:upside/unitNoneUSD_millions
/operating_model/cells/upside_2026q4_strategic_cash:upside/valueNone50.55
/operating_model/cells/upside_2027q1_blue_moon:upside/basisNoneNo consolidated Blue Moon sales or market-value gains.
/operating_model/cells/upside_2027q1_blue_moon:upside/caseNoneupside
/operating_model/cells/upside_2027q1_blue_moon:upside/formula/opNonemultiply
/operating_model/cells/upside_2027q1_blue_moon:upside/formula/refs/0Noneupside_2027q1_cad_commitment
/operating_model/cells/upside_2027q1_blue_moon:upside/formula/refs/1Noneupside_2027q1_cad_usd
/operating_model/cells/upside_2027q1_blue_moon:upside/idNoneupside_2027q1_blue_moon
/operating_model/cells/upside_2027q1_blue_moon:upside/kindNonederived
/operating_model/cells/upside_2027q1_blue_moon:upside/labelNoneBlue Moon minority investment cash
/operating_model/cells/upside_2027q1_blue_moon:upside/periodNone2027Q1
/operating_model/cells/upside_2027q1_blue_moon:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q1_blue_moon:upside/valueNone0.0
/operating_model/cells/upside_2027q1_business_investment:upside/basisNoneNo initial government receipt netted into capex.
/operating_model/cells/upside_2027q1_business_investment:upside/caseNoneupside
/operating_model/cells/upside_2027q1_business_investment:upside/formula/opNonesum
/operating_model/cells/upside_2027q1_business_investment:upside/formula/refs/0Noneupside_2027q1_capex
/operating_model/cells/upside_2027q1_business_investment:upside/formula/refs/1Noneupside_2027q1_strategic_cash
/operating_model/cells/upside_2027q1_business_investment:upside/idNoneupside_2027q1_business_investment
/operating_model/cells/upside_2027q1_business_investment:upside/kindNonederived
/operating_model/cells/upside_2027q1_business_investment:upside/labelNonePP&E and strategic deployment
/operating_model/cells/upside_2027q1_business_investment:upside/periodNone2027Q1
/operating_model/cells/upside_2027q1_business_investment:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q1_business_investment:upside/valueNone38.655
/operating_model/cells/upside_2027q1_cad_commitment:upside/basisNoneBinding 3.5M-unit commitment at CAD10, within 45 days of September 14; expected in Q4 fiscal 2026.
/operating_model/cells/upside_2027q1_cad_commitment:upside/caseNoneupside
/operating_model/cells/upside_2027q1_cad_commitment:upside/idNoneupside_2027q1_cad_commitment
/operating_model/cells/upside_2027q1_cad_commitment:upside/kindNoneassumption
/operating_model/cells/upside_2027q1_cad_commitment:upside/labelNoneCAD35M investment at 1:1 before FX
/operating_model/cells/upside_2027q1_cad_commitment:upside/periodNone2027Q1
/operating_model/cells/upside_2027q1_cad_commitment:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q1_cad_commitment:upside/valueNone0.0
/operating_model/cells/upside_2027q1_cad_usd:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q1_cad_usd:upside/caseNoneupside
/operating_model/cells/upside_2027q1_cad_usd:upside/idNoneupside_2027q1_cad_usd
/operating_model/cells/upside_2027q1_cad_usd:upside/kindNoneassumption
/operating_model/cells/upside_2027q1_cad_usd:upside/labelNoneUSD per CAD assumption
/operating_model/cells/upside_2027q1_cad_usd:upside/periodNone2027Q1
/operating_model/cells/upside_2027q1_cad_usd:upside/unitNoneratio
/operating_model/cells/upside_2027q1_cad_usd:upside/valueNone0.73
/operating_model/cells/upside_2027q1_capex:upside/basisNoneConsolidated external investment includes domestic expansion and controlled JV plant; internal capital contributions are not counted again.
/operating_model/cells/upside_2027q1_capex:upside/caseNoneupside
/operating_model/cells/upside_2027q1_capex:upside/idNoneupside_2027q1_capex
/operating_model/cells/upside_2027q1_capex:upside/kindNoneassumption
/operating_model/cells/upside_2027q1_capex:upside/labelNoneExternal PP&E domestic and controlled-JV cash
/operating_model/cells/upside_2027q1_capex:upside/periodNone2027Q1
/operating_model/cells/upside_2027q1_capex:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q1_capex:upside/valueNone45.0
/operating_model/cells/upside_2027q1_cash_after_funding:upside/basisNonePeriod flow only; no claim that preferred cash is freely distributable.
/operating_model/cells/upside_2027q1_cash_after_funding:upside/caseNoneupside
/operating_model/cells/upside_2027q1_cash_after_funding:upside/formula/opNonesum
/operating_model/cells/upside_2027q1_cash_after_funding:upside/formula/refs/0Noneupside_2027q1_cash_after_investing
/operating_model/cells/upside_2027q1_cash_after_funding:upside/formula/refs/1Noneupside_2027q1_preferred_funding
/operating_model/cells/upside_2027q1_cash_after_funding:upside/idNoneupside_2027q1_cash_after_funding
/operating_model/cells/upside_2027q1_cash_after_funding:upside/kindNonederived
/operating_model/cells/upside_2027q1_cash_after_funding:upside/labelNoneCash after preferred financing
/operating_model/cells/upside_2027q1_cash_after_funding:upside/periodNone2027Q1
/operating_model/cells/upside_2027q1_cash_after_funding:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q1_cash_after_funding:upside/valueNone-3.504662499999995
/operating_model/cells/upside_2027q1_cash_after_investing:upside/basisNoneBefore preferred funding and other capital allocation.
/operating_model/cells/upside_2027q1_cash_after_investing:upside/caseNoneupside
/operating_model/cells/upside_2027q1_cash_after_investing:upside/formula/opNonesubtract
/operating_model/cells/upside_2027q1_cash_after_investing:upside/formula/refs/0Noneupside_2027q1_cfo
/operating_model/cells/upside_2027q1_cash_after_investing:upside/formula/refs/1Noneupside_2027q1_business_investment
/operating_model/cells/upside_2027q1_cash_after_investing:upside/idNoneupside_2027q1_cash_after_investing
/operating_model/cells/upside_2027q1_cash_after_investing:upside/kindNonederived
/operating_model/cells/upside_2027q1_cash_after_investing:upside/labelNoneCash after business investing
/operating_model/cells/upside_2027q1_cash_after_investing:upside/periodNone2027Q1
/operating_model/cells/upside_2027q1_cash_after_investing:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q1_cash_after_investing:upside/valueNone-53.504662499999995
/operating_model/cells/upside_2027q1_cash_bonus:upside/basisNoneMaximum September award shown as a Q2 2027 cash/expense sensitivity, conditional on employment and measurement criteria; not SBC.
/operating_model/cells/upside_2027q1_cash_bonus:upside/caseNoneupside
/operating_model/cells/upside_2027q1_cash_bonus:upside/idNoneupside_2027q1_cash_bonus
/operating_model/cells/upside_2027q1_cash_bonus:upside/kindNoneassumption
/operating_model/cells/upside_2027q1_cash_bonus:upside/labelNonePerformance cash-bonus allowance
/operating_model/cells/upside_2027q1_cash_bonus:upside/periodNone2027Q1
/operating_model/cells/upside_2027q1_cash_bonus:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q1_cash_bonus:upside/valueNone0.0
/operating_model/cells/upside_2027q1_cash_interest:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q1_cash_interest:upside/caseNoneupside
/operating_model/cells/upside_2027q1_cash_interest:upside/idNoneupside_2027q1_cash_interest
/operating_model/cells/upside_2027q1_cash_interest:upside/kindNoneassumption
/operating_model/cells/upside_2027q1_cash_interest:upside/labelNoneCash debt interest
/operating_model/cells/upside_2027q1_cash_interest:upside/periodNone2027Q1
/operating_model/cells/upside_2027q1_cash_interest:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q1_cash_interest:upside/valueNone0.2
/operating_model/cells/upside_2027q1_cash_interest_income:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q1_cash_interest_income:upside/caseNoneupside
/operating_model/cells/upside_2027q1_cash_interest_income:upside/idNoneupside_2027q1_cash_interest_income
/operating_model/cells/upside_2027q1_cash_interest_income:upside/kindNoneassumption
/operating_model/cells/upside_2027q1_cash_interest_income:upside/labelNoneCash interest income
/operating_model/cells/upside_2027q1_cash_interest_income:upside/periodNone2027Q1
/operating_model/cells/upside_2027q1_cash_interest_income:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q1_cash_interest_income:upside/valueNone2.0
/operating_model/cells/upside_2027q1_cash_opex:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q1_cash_opex:upside/caseNoneupside
/operating_model/cells/upside_2027q1_cash_opex:upside/idNoneupside_2027q1_cash_opex
/operating_model/cells/upside_2027q1_cash_opex:upside/kindNoneassumption
/operating_model/cells/upside_2027q1_cash_opex:upside/labelNoneCash corporate R&D and selling expense
/operating_model/cells/upside_2027q1_cash_opex:upside/periodNone2027Q1
/operating_model/cells/upside_2027q1_cash_opex:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q1_cash_opex:upside/valueNone14.2
/operating_model/cells/upside_2027q1_cash_tax:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q1_cash_tax:upside/caseNoneupside
/operating_model/cells/upside_2027q1_cash_tax:upside/idNoneupside_2027q1_cash_tax
/operating_model/cells/upside_2027q1_cash_tax:upside/kindNoneassumption
/operating_model/cells/upside_2027q1_cash_tax:upside/labelNoneCash tax
/operating_model/cells/upside_2027q1_cash_tax:upside/periodNone2027Q1
/operating_model/cells/upside_2027q1_cash_tax:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q1_cash_tax:upside/valueNone3.0
/operating_model/cells/upside_2027q1_cash_uses:upside/basisNoneProject input prepayments are shown separately in strategic cash.
/operating_model/cells/upside_2027q1_cash_uses:upside/caseNoneupside
/operating_model/cells/upside_2027q1_cash_uses:upside/formula/opNonesum
/operating_model/cells/upside_2027q1_cash_uses:upside/formula/refs/0Noneupside_2027q1_cash_tax
/operating_model/cells/upside_2027q1_cash_uses:upside/formula/refs/1Noneupside_2027q1_cash_interest
/operating_model/cells/upside_2027q1_cash_uses:upside/formula/refs/2Noneupside_2027q1_inventory_other_cash
/operating_model/cells/upside_2027q1_cash_uses:upside/formula/refs/3Noneupside_2027q1_pass_inventory_cash
/operating_model/cells/upside_2027q1_cash_uses:upside/idNoneupside_2027q1_cash_uses
/operating_model/cells/upside_2027q1_cash_uses:upside/kindNonederived
/operating_model/cells/upside_2027q1_cash_uses:upside/labelNoneTax interest and working capital
/operating_model/cells/upside_2027q1_cash_uses:upside/periodNone2027Q1
/operating_model/cells/upside_2027q1_cash_uses:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q1_cash_uses:upside/valueNone26.2
/operating_model/cells/upside_2027q1_cfo:upside/basisNoneNo current-period preferred cash dividend.
/operating_model/cells/upside_2027q1_cfo:upside/caseNoneupside
/operating_model/cells/upside_2027q1_cfo:upside/formula/opNonesubtract
/operating_model/cells/upside_2027q1_cfo:upside/formula/refs/0Noneupside_2027q1_operating_cash_earnings
/operating_model/cells/upside_2027q1_cfo:upside/formula/refs/1Noneupside_2027q1_cash_uses
/operating_model/cells/upside_2027q1_cfo:upside/idNoneupside_2027q1_cfo
/operating_model/cells/upside_2027q1_cfo:upside/kindNonederived
/operating_model/cells/upside_2027q1_cfo:upside/labelNoneOperating cash flow proxy
/operating_model/cells/upside_2027q1_cfo:upside/periodNone2027Q1
/operating_model/cells/upside_2027q1_cfo:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q1_cfo:upside/valueNone-14.849662499999996
/operating_model/cells/upside_2027q1_core_margin:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q1_core_margin:upside/caseNoneupside
/operating_model/cells/upside_2027q1_core_margin:upside/idNoneupside_2027q1_core_margin
/operating_model/cells/upside_2027q1_core_margin:upside/kindNoneassumption
/operating_model/cells/upside_2027q1_core_margin:upside/labelNoneCore gross margin
/operating_model/cells/upside_2027q1_core_margin:upside/periodNone2027Q1
/operating_model/cells/upside_2027q1_core_margin:upside/unitNoneratio
/operating_model/cells/upside_2027q1_core_margin:upside/valueNone0.27
/operating_model/cells/upside_2027q1_core_revenue:upside/basisNoneCurrent manufacturing and conditional acquired operations; stockpile is separate.
/operating_model/cells/upside_2027q1_core_revenue:upside/caseNoneupside
/operating_model/cells/upside_2027q1_core_revenue:upside/formula/opNonesum
/operating_model/cells/upside_2027q1_core_revenue:upside/formula/refs/0Noneupside_2027q1_legacy_demand
/operating_model/cells/upside_2027q1_core_revenue:upside/formula/refs/1Noneupside_2027q1_metal_pass
/operating_model/cells/upside_2027q1_core_revenue:upside/formula/refs/2Noneupside_2027q1_german_revenue
/operating_model/cells/upside_2027q1_core_revenue:upside/idNoneupside_2027q1_core_revenue
/operating_model/cells/upside_2027q1_core_revenue:upside/kindNonederived
/operating_model/cells/upside_2027q1_core_revenue:upside/labelNoneCore and acquired revenue
/operating_model/cells/upside_2027q1_core_revenue:upside/periodNone2027Q1
/operating_model/cells/upside_2027q1_core_revenue:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q1_core_revenue:upside/valueNone90.00125
/operating_model/cells/upside_2027q1_da:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q1_da:upside/caseNoneupside
/operating_model/cells/upside_2027q1_da:upside/idNoneupside_2027q1_da
/operating_model/cells/upside_2027q1_da:upside/kindNoneassumption
/operating_model/cells/upside_2027q1_da:upside/labelNoneOperating D&A
/operating_model/cells/upside_2027q1_da:upside/periodNone2027Q1
/operating_model/cells/upside_2027q1_da:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q1_da:upside/valueNone3.0
/operating_model/cells/upside_2027q1_demand_index:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q1_demand_index:upside/caseNoneupside
/operating_model/cells/upside_2027q1_demand_index:upside/idNoneupside_2027q1_demand_index
/operating_model/cells/upside_2027q1_demand_index:upside/kindNoneassumption
/operating_model/cells/upside_2027q1_demand_index:upside/labelNoneNet volume and mix versus Q2
/operating_model/cells/upside_2027q1_demand_index:upside/periodNone2027Q1
/operating_model/cells/upside_2027q1_demand_index:upside/unitNoneratio
/operating_model/cells/upside_2027q1_demand_index:upside/valueNone1.25
/operating_model/cells/upside_2027q1_eur_usd:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q1_eur_usd:upside/caseNoneupside
/operating_model/cells/upside_2027q1_eur_usd:upside/idNoneupside_2027q1_eur_usd
/operating_model/cells/upside_2027q1_eur_usd:upside/kindNoneassumption
/operating_model/cells/upside_2027q1_eur_usd:upside/labelNoneUSD per EUR conversion
/operating_model/cells/upside_2027q1_eur_usd:upside/periodNone2027Q1
/operating_model/cells/upside_2027q1_eur_usd:upside/unitNoneratio
/operating_model/cells/upside_2027q1_eur_usd:upside/valueNone1.08
/operating_model/cells/upside_2027q1_funding_weight:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q1_funding_weight:upside/caseNoneupside
/operating_model/cells/upside_2027q1_funding_weight:upside/idNoneupside_2027q1_funding_weight
/operating_model/cells/upside_2027q1_funding_weight:upside/kindNoneassumption
/operating_model/cells/upside_2027q1_funding_weight:upside/labelNoneNew funding quarter weight
/operating_model/cells/upside_2027q1_funding_weight:upside/periodNone2027Q1
/operating_model/cells/upside_2027q1_funding_weight:upside/unitNoneratio
/operating_model/cells/upside_2027q1_funding_weight:upside/valueNone0.25
/operating_model/cells/upside_2027q1_german_eur_amount:upside/basisNoneDesk working capital and net pension assumptions in contractual price formula; signed amount can be negative.
/operating_model/cells/upside_2027q1_german_eur_amount:upside/caseNoneupside
/operating_model/cells/upside_2027q1_german_eur_amount:upside/idNoneupside_2027q1_german_eur_amount
/operating_model/cells/upside_2027q1_german_eur_amount:upside/kindNoneassumption
/operating_model/cells/upside_2027q1_german_eur_amount:upside/labelNoneGerman net price sensitivity, EUR millions represented at 1:1 before FX
/operating_model/cells/upside_2027q1_german_eur_amount:upside/periodNone2027Q1
/operating_model/cells/upside_2027q1_german_eur_amount:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q1_german_eur_amount:upside/valueNone-5.875
/operating_model/cells/upside_2027q1_german_gross:upside/basisNoneUnverified post-close margin.
/operating_model/cells/upside_2027q1_german_gross:upside/caseNoneupside
/operating_model/cells/upside_2027q1_german_gross:upside/formula/opNonemultiply
/operating_model/cells/upside_2027q1_german_gross:upside/formula/refs/0Noneupside_2027q1_german_revenue
/operating_model/cells/upside_2027q1_german_gross:upside/formula/refs/1Noneupside_2027q1_german_margin
/operating_model/cells/upside_2027q1_german_gross:upside/idNoneupside_2027q1_german_gross
/operating_model/cells/upside_2027q1_german_gross:upside/kindNonederived
/operating_model/cells/upside_2027q1_german_gross:upside/labelNoneGerman gross contribution
/operating_model/cells/upside_2027q1_german_gross:upside/periodNone2027Q1
/operating_model/cells/upside_2027q1_german_gross:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q1_german_gross:upside/valueNone0.54
/operating_model/cells/upside_2027q1_german_margin:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q1_german_margin:upside/caseNoneupside
/operating_model/cells/upside_2027q1_german_margin:upside/idNoneupside_2027q1_german_margin
/operating_model/cells/upside_2027q1_german_margin:upside/kindNoneassumption
/operating_model/cells/upside_2027q1_german_margin:upside/labelNoneAcquired gross margin
/operating_model/cells/upside_2027q1_german_margin:upside/periodNone2027Q1
/operating_model/cells/upside_2027q1_german_margin:upside/unitNoneratio
/operating_model/cells/upside_2027q1_german_margin:upside/valueNone0.18
/operating_model/cells/upside_2027q1_german_price:upside/basisNoneScenario only; metal inventory and pension measurement can materially change final consideration.
/operating_model/cells/upside_2027q1_german_price:upside/caseNoneupside
/operating_model/cells/upside_2027q1_german_price:upside/formula/opNonemultiply
/operating_model/cells/upside_2027q1_german_price:upside/formula/refs/0Noneupside_2027q1_german_eur_amount
/operating_model/cells/upside_2027q1_german_price:upside/formula/refs/1Noneupside_2027q1_eur_usd
/operating_model/cells/upside_2027q1_german_price:upside/idNoneupside_2027q1_german_price
/operating_model/cells/upside_2027q1_german_price:upside/kindNonederived
/operating_model/cells/upside_2027q1_german_price:upside/labelNoneConditional German closing cash in USD
/operating_model/cells/upside_2027q1_german_price:upside/periodNone2027Q1
/operating_model/cells/upside_2027q1_german_price:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q1_german_price:upside/valueNone-6.345000000000001
/operating_model/cells/upside_2027q1_german_revenue:upside/basisNoneDesk acquired-period contribution only after assumed closing; transaction remains conditional.
/operating_model/cells/upside_2027q1_german_revenue:upside/caseNoneupside
/operating_model/cells/upside_2027q1_german_revenue:upside/idNoneupside_2027q1_german_revenue
/operating_model/cells/upside_2027q1_german_revenue:upside/kindNoneassumption
/operating_model/cells/upside_2027q1_german_revenue:upside/labelNoneConditional acquired German revenue
/operating_model/cells/upside_2027q1_german_revenue:upside/periodNone2027Q1
/operating_model/cells/upside_2027q1_german_revenue:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q1_german_revenue:upside/valueNone3.0
/operating_model/cells/upside_2027q1_gross_profit:upside/basisNoneCompany forecasts are not supplied for the new program.
/operating_model/cells/upside_2027q1_gross_profit:upside/caseNoneupside
/operating_model/cells/upside_2027q1_gross_profit:upside/formula/opNonesum
/operating_model/cells/upside_2027q1_gross_profit:upside/formula/refs/0Noneupside_2027q1_legacy_gross
/operating_model/cells/upside_2027q1_gross_profit:upside/formula/refs/1Noneupside_2027q1_price_gross
/operating_model/cells/upside_2027q1_gross_profit:upside/formula/refs/2Noneupside_2027q1_german_gross
/operating_model/cells/upside_2027q1_gross_profit:upside/formula/refs/3Noneupside_2027q1_stockpile_gross
/operating_model/cells/upside_2027q1_gross_profit:upside/idNoneupside_2027q1_gross_profit
/operating_model/cells/upside_2027q1_gross_profit:upside/kindNonederived
/operating_model/cells/upside_2027q1_gross_profit:upside/labelNoneGross profit proxy
/operating_model/cells/upside_2027q1_gross_profit:upside/periodNone2027Q1
/operating_model/cells/upside_2027q1_gross_profit:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q1_gross_profit:upside/valueNone23.5503375
/operating_model/cells/upside_2027q1_inventory_other_cash:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q1_inventory_other_cash:upside/caseNoneupside
/operating_model/cells/upside_2027q1_inventory_other_cash:upside/idNoneupside_2027q1_inventory_other_cash
/operating_model/cells/upside_2027q1_inventory_other_cash:upside/kindNoneassumption
/operating_model/cells/upside_2027q1_inventory_other_cash:upside/labelNoneInventory and other working-capital use
/operating_model/cells/upside_2027q1_inventory_other_cash:upside/periodNone2027Q1
/operating_model/cells/upside_2027q1_inventory_other_cash:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q1_inventory_other_cash:upside/valueNone21.0
/operating_model/cells/upside_2027q1_inventory_price_fraction:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q1_inventory_price_fraction:upside/caseNoneupside
/operating_model/cells/upside_2027q1_inventory_price_fraction:upside/idNoneupside_2027q1_inventory_price_fraction
/operating_model/cells/upside_2027q1_inventory_price_fraction:upside/kindNoneassumption
/operating_model/cells/upside_2027q1_inventory_price_fraction:upside/labelNonePrice-related inventory funding share
/operating_model/cells/upside_2027q1_inventory_price_fraction:upside/periodNone2027Q1
/operating_model/cells/upside_2027q1_inventory_price_fraction:upside/unitNoneratio
/operating_model/cells/upside_2027q1_inventory_price_fraction:upside/valueNone0.5
/operating_model/cells/upside_2027q1_legacy_demand:upside/basisNoneDemand separated from incremental metal-price pass-through.
/operating_model/cells/upside_2027q1_legacy_demand:upside/caseNoneupside
/operating_model/cells/upside_2027q1_legacy_demand:upside/formula/opNonemultiply
/operating_model/cells/upside_2027q1_legacy_demand:upside/formula/refs/0Noneq2_revenue
/operating_model/cells/upside_2027q1_legacy_demand:upside/formula/refs/1Noneupside_2027q1_demand_index
/operating_model/cells/upside_2027q1_legacy_demand:upside/idNoneupside_2027q1_legacy_demand
/operating_model/cells/upside_2027q1_legacy_demand:upside/kindNonederived
/operating_model/cells/upside_2027q1_legacy_demand:upside/labelNoneLegacy revenue at reference metal prices
/operating_model/cells/upside_2027q1_legacy_demand:upside/periodNone2027Q1
/operating_model/cells/upside_2027q1_legacy_demand:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q1_legacy_demand:upside/valueNone83.00125
/operating_model/cells/upside_2027q1_legacy_gross:upside/basisNoneIndependent operating-margin scenario.
/operating_model/cells/upside_2027q1_legacy_gross:upside/caseNoneupside
/operating_model/cells/upside_2027q1_legacy_gross:upside/formula/opNonemultiply
/operating_model/cells/upside_2027q1_legacy_gross:upside/formula/refs/0Noneupside_2027q1_legacy_demand
/operating_model/cells/upside_2027q1_legacy_gross:upside/formula/refs/1Noneupside_2027q1_core_margin
/operating_model/cells/upside_2027q1_legacy_gross:upside/idNoneupside_2027q1_legacy_gross
/operating_model/cells/upside_2027q1_legacy_gross:upside/kindNonederived
/operating_model/cells/upside_2027q1_legacy_gross:upside/labelNoneLegacy gross profit
/operating_model/cells/upside_2027q1_legacy_gross:upside/periodNone2027Q1
/operating_model/cells/upside_2027q1_legacy_gross:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q1_legacy_gross:upside/valueNone22.4103375
/operating_model/cells/upside_2027q1_metal_cost:upside/basisNoneAt 100% pass-through, higher commodity prices do not create gross profit.
/operating_model/cells/upside_2027q1_metal_cost:upside/caseNoneupside
/operating_model/cells/upside_2027q1_metal_cost:upside/formula/opNonemultiply
/operating_model/cells/upside_2027q1_metal_cost:upside/formula/refs/0Noneupside_2027q1_metal_pass
/operating_model/cells/upside_2027q1_metal_cost:upside/formula/refs/1Noneupside_2027q1_pass_cost_ratio
/operating_model/cells/upside_2027q1_metal_cost:upside/idNoneupside_2027q1_metal_cost
/operating_model/cells/upside_2027q1_metal_cost:upside/kindNonederived
/operating_model/cells/upside_2027q1_metal_cost:upside/labelNoneMatched input price cost
/operating_model/cells/upside_2027q1_metal_cost:upside/periodNone2027Q1
/operating_model/cells/upside_2027q1_metal_cost:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q1_metal_cost:upside/valueNone4.0
/operating_model/cells/upside_2027q1_metal_pass:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q1_metal_pass:upside/caseNoneupside
/operating_model/cells/upside_2027q1_metal_pass:upside/idNoneupside_2027q1_metal_pass
/operating_model/cells/upside_2027q1_metal_pass:upside/kindNoneassumption
/operating_model/cells/upside_2027q1_metal_pass:upside/labelNoneIncremental raw-material price pass-through
/operating_model/cells/upside_2027q1_metal_pass:upside/periodNone2027Q1
/operating_model/cells/upside_2027q1_metal_pass:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q1_metal_pass:upside/valueNone4.0
/operating_model/cells/upside_2027q1_new_pik_basis:upside/basisNoneInitial 19-day approximate accrual; later tranches assumed late-quarter.
/operating_model/cells/upside_2027q1_new_pik_basis:upside/caseNoneupside
/operating_model/cells/upside_2027q1_new_pik_basis:upside/formula/opNonemultiply
/operating_model/cells/upside_2027q1_new_pik_basis:upside/formula/refs/0Noneupside_2027q1_preferred_funding
/operating_model/cells/upside_2027q1_new_pik_basis:upside/formula/refs/1Noneupside_2027q1_funding_weight
/operating_model/cells/upside_2027q1_new_pik_basis:upside/idNoneupside_2027q1_new_pik_basis
/operating_model/cells/upside_2027q1_new_pik_basis:upside/kindNonederived
/operating_model/cells/upside_2027q1_new_pik_basis:upside/labelNoneNew funding weighted for partial quarter
/operating_model/cells/upside_2027q1_new_pik_basis:upside/periodNone2027Q1
/operating_model/cells/upside_2027q1_new_pik_basis:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q1_new_pik_basis:upside/valueNone12.5
/operating_model/cells/upside_2027q1_operating_cash_earnings:upside/basisNoneNo debt forgiveness or financing gain.
/operating_model/cells/upside_2027q1_operating_cash_earnings:upside/caseNoneupside
/operating_model/cells/upside_2027q1_operating_cash_earnings:upside/formula/opNonesum
/operating_model/cells/upside_2027q1_operating_cash_earnings:upside/formula/refs/0Noneupside_2027q1_operating_income
/operating_model/cells/upside_2027q1_operating_cash_earnings:upside/formula/refs/1Noneupside_2027q1_sbc
/operating_model/cells/upside_2027q1_operating_cash_earnings:upside/formula/refs/2Noneupside_2027q1_da
/operating_model/cells/upside_2027q1_operating_cash_earnings:upside/formula/refs/3Noneupside_2027q1_cash_interest_income
/operating_model/cells/upside_2027q1_operating_cash_earnings:upside/idNoneupside_2027q1_operating_cash_earnings
/operating_model/cells/upside_2027q1_operating_cash_earnings:upside/kindNonederived
/operating_model/cells/upside_2027q1_operating_cash_earnings:upside/labelNoneOperating earnings plus noncash and interest
/operating_model/cells/upside_2027q1_operating_cash_earnings:upside/periodNone2027Q1
/operating_model/cells/upside_2027q1_operating_cash_earnings:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q1_operating_cash_earnings:upside/valueNone11.350337500000004
/operating_model/cells/upside_2027q1_operating_income:upside/basisNonePreferred PIK is below operating economics, not operating expense.
/operating_model/cells/upside_2027q1_operating_income:upside/caseNoneupside
/operating_model/cells/upside_2027q1_operating_income:upside/formula/opNonesubtract
/operating_model/cells/upside_2027q1_operating_income:upside/formula/refs/0Noneupside_2027q1_gross_profit
/operating_model/cells/upside_2027q1_operating_income:upside/formula/refs/1Noneupside_2027q1_opex
/operating_model/cells/upside_2027q1_operating_income:upside/idNoneupside_2027q1_operating_income
/operating_model/cells/upside_2027q1_operating_income:upside/kindNonederived
/operating_model/cells/upside_2027q1_operating_income:upside/labelNoneOperating income proxy
/operating_model/cells/upside_2027q1_operating_income:upside/periodNone2027Q1
/operating_model/cells/upside_2027q1_operating_income:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q1_operating_income:upside/valueNone3.9503375000000034
/operating_model/cells/upside_2027q1_opex:upside/basisNoneNo repeat of H1 IPO SBC as if recurring every quarter.
/operating_model/cells/upside_2027q1_opex:upside/caseNoneupside
/operating_model/cells/upside_2027q1_opex:upside/formula/opNonesum
/operating_model/cells/upside_2027q1_opex:upside/formula/refs/0Noneupside_2027q1_cash_opex
/operating_model/cells/upside_2027q1_opex:upside/formula/refs/1Noneupside_2027q1_sbc
/operating_model/cells/upside_2027q1_opex:upside/formula/refs/2Noneupside_2027q1_da
/operating_model/cells/upside_2027q1_opex:upside/formula/refs/3Noneupside_2027q1_cash_bonus
/operating_model/cells/upside_2027q1_opex:upside/idNoneupside_2027q1_opex
/operating_model/cells/upside_2027q1_opex:upside/kindNonederived
/operating_model/cells/upside_2027q1_opex:upside/labelNoneCash overhead SBC and D&A
/operating_model/cells/upside_2027q1_opex:upside/periodNone2027Q1
/operating_model/cells/upside_2027q1_opex:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q1_opex:upside/valueNone19.599999999999998
/operating_model/cells/upside_2027q1_pass_cost_ratio:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q1_pass_cost_ratio:upside/caseNoneupside
/operating_model/cells/upside_2027q1_pass_cost_ratio:upside/idNoneupside_2027q1_pass_cost_ratio
/operating_model/cells/upside_2027q1_pass_cost_ratio:upside/kindNoneassumption
/operating_model/cells/upside_2027q1_pass_cost_ratio:upside/labelNoneInput-cost share of pass-through
/operating_model/cells/upside_2027q1_pass_cost_ratio:upside/periodNone2027Q1
/operating_model/cells/upside_2027q1_pass_cost_ratio:upside/unitNoneratio
/operating_model/cells/upside_2027q1_pass_cost_ratio:upside/valueNone1.0
/operating_model/cells/upside_2027q1_pass_inventory_cash:upside/basisNoneCommodity inflation can tie up cash despite matched gross profit.
/operating_model/cells/upside_2027q1_pass_inventory_cash:upside/caseNoneupside
/operating_model/cells/upside_2027q1_pass_inventory_cash:upside/formula/opNonemultiply
/operating_model/cells/upside_2027q1_pass_inventory_cash:upside/formula/refs/0Noneupside_2027q1_metal_pass
/operating_model/cells/upside_2027q1_pass_inventory_cash:upside/formula/refs/1Noneupside_2027q1_inventory_price_fraction
/operating_model/cells/upside_2027q1_pass_inventory_cash:upside/idNoneupside_2027q1_pass_inventory_cash
/operating_model/cells/upside_2027q1_pass_inventory_cash:upside/kindNonederived
/operating_model/cells/upside_2027q1_pass_inventory_cash:upside/labelNoneAdditional price-related inventory funding
/operating_model/cells/upside_2027q1_pass_inventory_cash:upside/periodNone2027Q1
/operating_model/cells/upside_2027q1_pass_inventory_cash:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q1_pass_inventory_cash:upside/valueNone2.0
/operating_model/cells/upside_2027q1_pik_basis:upside/basisNoneExisting balance includes prior PIK compounding.
/operating_model/cells/upside_2027q1_pik_basis:upside/caseNoneupside
/operating_model/cells/upside_2027q1_pik_basis:upside/formula/opNonesum
/operating_model/cells/upside_2027q1_pik_basis:upside/formula/refs/0Noneupside_2026q4_preferred_ending
/operating_model/cells/upside_2027q1_pik_basis:upside/formula/refs/1Noneupside_2027q1_new_pik_basis
/operating_model/cells/upside_2027q1_pik_basis:upside/idNoneupside_2027q1_pik_basis
/operating_model/cells/upside_2027q1_pik_basis:upside/kindNonederived
/operating_model/cells/upside_2027q1_pik_basis:upside/labelNoneWeighted preferred claim for PIK
/operating_model/cells/upside_2027q1_pik_basis:upside/periodNone2027Q1
/operating_model/cells/upside_2027q1_pik_basis:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q1_pik_basis:upside/valueNone215.83207074175823
/operating_model/cells/upside_2027q1_preferred_ending:upside/basisNoneStock balance, not an annual flow; ignores warrant-linked liquidation preference reductions.
/operating_model/cells/upside_2027q1_preferred_ending:upside/caseNoneupside
/operating_model/cells/upside_2027q1_preferred_ending:upside/formula/opNonesum
/operating_model/cells/upside_2027q1_preferred_ending:upside/formula/refs/0Noneupside_2026q4_preferred_ending
/operating_model/cells/upside_2027q1_preferred_ending:upside/formula/refs/1Noneupside_2027q1_preferred_funding
/operating_model/cells/upside_2027q1_preferred_ending:upside/formula/refs/2Noneupside_2027q1_preferred_pik
/operating_model/cells/upside_2027q1_preferred_ending:upside/idNoneupside_2027q1_preferred_ending
/operating_model/cells/upside_2027q1_preferred_ending:upside/kindNonederived
/operating_model/cells/upside_2027q1_preferred_ending:upside/labelNoneEnding preferred claim before warrant adjustments
/operating_model/cells/upside_2027q1_preferred_ending:upside/periodNone2027Q1
/operating_model/cells/upside_2027q1_preferred_ending:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q1_preferred_ending:upside/valueNone256.2997617144574
/operating_model/cells/upside_2027q1_preferred_funding:upside/basisNoneInitial $200M received September 14; any later $50M receipt is conditional and respects six-month tranche availability.
/operating_model/cells/upside_2027q1_preferred_funding:upside/caseNoneupside
/operating_model/cells/upside_2027q1_preferred_funding:upside/idNoneupside_2027q1_preferred_funding
/operating_model/cells/upside_2027q1_preferred_funding:upside/kindNoneassumption
/operating_model/cells/upside_2027q1_preferred_funding:upside/labelNonePreferred financing receipts
/operating_model/cells/upside_2027q1_preferred_funding:upside/periodNone2027Q1
/operating_model/cells/upside_2027q1_preferred_funding:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q1_preferred_funding:upside/valueNone50.0
/operating_model/cells/upside_2027q1_preferred_pik:upside/basisNoneNoncash senior claim; no deduction from current-period cash.
/operating_model/cells/upside_2027q1_preferred_pik:upside/caseNoneupside
/operating_model/cells/upside_2027q1_preferred_pik:upside/formula/opNonemultiply
/operating_model/cells/upside_2027q1_preferred_pik:upside/formula/refs/0Noneupside_2027q1_pik_basis
/operating_model/cells/upside_2027q1_preferred_pik:upside/formula/refs/1Nonepreferred_rate
/operating_model/cells/upside_2027q1_preferred_pik:upside/formula/refs/2Noneupside_2027q1_quarter_year
/operating_model/cells/upside_2027q1_preferred_pik:upside/idNoneupside_2027q1_preferred_pik
/operating_model/cells/upside_2027q1_preferred_pik:upside/kindNonederived
/operating_model/cells/upside_2027q1_preferred_pik:upside/labelNonePreferred economic PIK accrual
/operating_model/cells/upside_2027q1_preferred_pik:upside/periodNone2027Q1
/operating_model/cells/upside_2027q1_preferred_pik:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q1_preferred_pik:upside/valueNone2.9676909726991756
/operating_model/cells/upside_2027q1_price_gross:upside/basisNoneMismatch sensitivity is explicit.
/operating_model/cells/upside_2027q1_price_gross:upside/caseNoneupside
/operating_model/cells/upside_2027q1_price_gross:upside/formula/opNonesubtract
/operating_model/cells/upside_2027q1_price_gross:upside/formula/refs/0Noneupside_2027q1_metal_pass
/operating_model/cells/upside_2027q1_price_gross:upside/formula/refs/1Noneupside_2027q1_metal_cost
/operating_model/cells/upside_2027q1_price_gross:upside/idNoneupside_2027q1_price_gross
/operating_model/cells/upside_2027q1_price_gross:upside/kindNonederived
/operating_model/cells/upside_2027q1_price_gross:upside/labelNoneIncremental price pass-through gross profit
/operating_model/cells/upside_2027q1_price_gross:upside/periodNone2027Q1
/operating_model/cells/upside_2027q1_price_gross:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q1_price_gross:upside/valueNone0.0
/operating_model/cells/upside_2027q1_quarter_year:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q1_quarter_year:upside/caseNoneupside
/operating_model/cells/upside_2027q1_quarter_year:upside/idNoneupside_2027q1_quarter_year
/operating_model/cells/upside_2027q1_quarter_year:upside/kindNoneassumption
/operating_model/cells/upside_2027q1_quarter_year:upside/labelNoneQuarter-year fraction
/operating_model/cells/upside_2027q1_quarter_year:upside/periodNone2027Q1
/operating_model/cells/upside_2027q1_quarter_year:upside/unitNoneratio
/operating_model/cells/upside_2027q1_quarter_year:upside/valueNone0.25
/operating_model/cells/upside_2027q1_raw_prepay:upside/basisNoneDesk first and milestone-conditioned second $25M funding; later negative amounts are consumption/settlement credits, not new revenue.
/operating_model/cells/upside_2027q1_raw_prepay:upside/caseNoneupside
/operating_model/cells/upside_2027q1_raw_prepay:upside/idNoneupside_2027q1_raw_prepay
/operating_model/cells/upside_2027q1_raw_prepay:upside/kindNoneassumption
/operating_model/cells/upside_2027q1_raw_prepay:upside/labelNoneNet new raw-material prepayments
/operating_model/cells/upside_2027q1_raw_prepay:upside/periodNone2027Q1
/operating_model/cells/upside_2027q1_raw_prepay:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q1_raw_prepay:upside/valueNone0.0
/operating_model/cells/upside_2027q1_revenue:upside/basisNoneNo recognition of preferred funding as revenue.
/operating_model/cells/upside_2027q1_revenue:upside/caseNoneupside
/operating_model/cells/upside_2027q1_revenue:upside/formula/opNonesum
/operating_model/cells/upside_2027q1_revenue:upside/formula/refs/0Noneupside_2027q1_core_revenue
/operating_model/cells/upside_2027q1_revenue:upside/formula/refs/1Noneupside_2027q1_stockpile_revenue
/operating_model/cells/upside_2027q1_revenue:upside/idNoneupside_2027q1_revenue
/operating_model/cells/upside_2027q1_revenue:upside/kindNonederived
/operating_model/cells/upside_2027q1_revenue:upside/labelNoneTotal revenue
/operating_model/cells/upside_2027q1_revenue:upside/periodNone2027Q1
/operating_model/cells/upside_2027q1_revenue:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q1_revenue:upside/valueNone95.00125
/operating_model/cells/upside_2027q1_sbc:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q1_sbc:upside/caseNoneupside
/operating_model/cells/upside_2027q1_sbc:upside/idNoneupside_2027q1_sbc
/operating_model/cells/upside_2027q1_sbc:upside/kindNoneassumption
/operating_model/cells/upside_2027q1_sbc:upside/labelNoneSBC
/operating_model/cells/upside_2027q1_sbc:upside/periodNone2027Q1
/operating_model/cells/upside_2027q1_sbc:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q1_sbc:upside/valueNone2.4
/operating_model/cells/upside_2027q1_stock_margin:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q1_stock_margin:upside/caseNoneupside
/operating_model/cells/upside_2027q1_stock_margin:upside/idNoneupside_2027q1_stock_margin
/operating_model/cells/upside_2027q1_stock_margin:upside/kindNoneassumption
/operating_model/cells/upside_2027q1_stock_margin:upside/labelNoneStockpile gross margin
/operating_model/cells/upside_2027q1_stock_margin:upside/periodNone2027Q1
/operating_model/cells/upside_2027q1_stock_margin:upside/unitNoneratio
/operating_model/cells/upside_2027q1_stock_margin:upside/valueNone0.12
/operating_model/cells/upside_2027q1_stockpile_gross:upside/basisNoneProcured input cost is reflected in margin; no unsupported floor-price assumption.
/operating_model/cells/upside_2027q1_stockpile_gross:upside/caseNoneupside
/operating_model/cells/upside_2027q1_stockpile_gross:upside/formula/opNonemultiply
/operating_model/cells/upside_2027q1_stockpile_gross:upside/formula/refs/0Noneupside_2027q1_stockpile_revenue
/operating_model/cells/upside_2027q1_stockpile_gross:upside/formula/refs/1Noneupside_2027q1_stock_margin
/operating_model/cells/upside_2027q1_stockpile_gross:upside/idNoneupside_2027q1_stockpile_gross
/operating_model/cells/upside_2027q1_stockpile_gross:upside/kindNonederived
/operating_model/cells/upside_2027q1_stockpile_gross:upside/labelNoneStockpile gross contribution
/operating_model/cells/upside_2027q1_stockpile_gross:upside/periodNone2027Q1
/operating_model/cells/upside_2027q1_stockpile_gross:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q1_stockpile_gross:upside/valueNone0.6
/operating_model/cells/upside_2027q1_stockpile_revenue:upside/basisNoneSupply-qualified delivery assumption, not pro-rata recognition of the contract ceiling or minimum.
/operating_model/cells/upside_2027q1_stockpile_revenue:upside/caseNoneupside
/operating_model/cells/upside_2027q1_stockpile_revenue:upside/idNoneupside_2027q1_stockpile_revenue
/operating_model/cells/upside_2027q1_stockpile_revenue:upside/kindNoneassumption
/operating_model/cells/upside_2027q1_stockpile_revenue:upside/labelNoneAccepted incremental stockpile deliveries
/operating_model/cells/upside_2027q1_stockpile_revenue:upside/periodNone2027Q1
/operating_model/cells/upside_2027q1_stockpile_revenue:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q1_stockpile_revenue:upside/valueNone5.0
/operating_model/cells/upside_2027q1_strategic_cash:upside/basisNonePrepaid input consumption cash credits avoid charging both historical prepayment and subsequent COGS cash without adjustment.
/operating_model/cells/upside_2027q1_strategic_cash:upside/caseNoneupside
/operating_model/cells/upside_2027q1_strategic_cash:upside/formula/opNonesum
/operating_model/cells/upside_2027q1_strategic_cash:upside/formula/refs/0Noneupside_2027q1_blue_moon
/operating_model/cells/upside_2027q1_strategic_cash:upside/formula/refs/1Noneupside_2027q1_raw_prepay
/operating_model/cells/upside_2027q1_strategic_cash:upside/formula/refs/2Noneupside_2027q1_german_price
/operating_model/cells/upside_2027q1_strategic_cash:upside/idNoneupside_2027q1_strategic_cash
/operating_model/cells/upside_2027q1_strategic_cash:upside/kindNonederived
/operating_model/cells/upside_2027q1_strategic_cash:upside/labelNoneMinority prepayment and acquisition cash
/operating_model/cells/upside_2027q1_strategic_cash:upside/periodNone2027Q1
/operating_model/cells/upside_2027q1_strategic_cash:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q1_strategic_cash:upside/valueNone-6.345000000000001
/operating_model/cells/upside_2027q2_blue_moon:upside/basisNoneNo consolidated Blue Moon sales or market-value gains.
/operating_model/cells/upside_2027q2_blue_moon:upside/caseNoneupside
/operating_model/cells/upside_2027q2_blue_moon:upside/formula/opNonemultiply
/operating_model/cells/upside_2027q2_blue_moon:upside/formula/refs/0Noneupside_2027q2_cad_commitment
/operating_model/cells/upside_2027q2_blue_moon:upside/formula/refs/1Noneupside_2027q2_cad_usd
/operating_model/cells/upside_2027q2_blue_moon:upside/idNoneupside_2027q2_blue_moon
/operating_model/cells/upside_2027q2_blue_moon:upside/kindNonederived
/operating_model/cells/upside_2027q2_blue_moon:upside/labelNoneBlue Moon minority investment cash
/operating_model/cells/upside_2027q2_blue_moon:upside/periodNone2027Q2
/operating_model/cells/upside_2027q2_blue_moon:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q2_blue_moon:upside/valueNone0.0
/operating_model/cells/upside_2027q2_business_investment:upside/basisNoneNo initial government receipt netted into capex.
/operating_model/cells/upside_2027q2_business_investment:upside/caseNoneupside
/operating_model/cells/upside_2027q2_business_investment:upside/formula/opNonesum
/operating_model/cells/upside_2027q2_business_investment:upside/formula/refs/0Noneupside_2027q2_capex
/operating_model/cells/upside_2027q2_business_investment:upside/formula/refs/1Noneupside_2027q2_strategic_cash
/operating_model/cells/upside_2027q2_business_investment:upside/idNoneupside_2027q2_business_investment
/operating_model/cells/upside_2027q2_business_investment:upside/kindNonederived
/operating_model/cells/upside_2027q2_business_investment:upside/labelNonePP&E and strategic deployment
/operating_model/cells/upside_2027q2_business_investment:upside/periodNone2027Q2
/operating_model/cells/upside_2027q2_business_investment:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q2_business_investment:upside/valueNone80.0
/operating_model/cells/upside_2027q2_cad_commitment:upside/basisNoneBinding 3.5M-unit commitment at CAD10, within 45 days of September 14; expected in Q4 fiscal 2026.
/operating_model/cells/upside_2027q2_cad_commitment:upside/caseNoneupside
/operating_model/cells/upside_2027q2_cad_commitment:upside/idNoneupside_2027q2_cad_commitment
/operating_model/cells/upside_2027q2_cad_commitment:upside/kindNoneassumption
/operating_model/cells/upside_2027q2_cad_commitment:upside/labelNoneCAD35M investment at 1:1 before FX
/operating_model/cells/upside_2027q2_cad_commitment:upside/periodNone2027Q2
/operating_model/cells/upside_2027q2_cad_commitment:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q2_cad_commitment:upside/valueNone0.0
/operating_model/cells/upside_2027q2_cad_usd:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q2_cad_usd:upside/caseNoneupside
/operating_model/cells/upside_2027q2_cad_usd:upside/idNoneupside_2027q2_cad_usd
/operating_model/cells/upside_2027q2_cad_usd:upside/kindNoneassumption
/operating_model/cells/upside_2027q2_cad_usd:upside/labelNoneUSD per CAD assumption
/operating_model/cells/upside_2027q2_cad_usd:upside/periodNone2027Q2
/operating_model/cells/upside_2027q2_cad_usd:upside/unitNoneratio
/operating_model/cells/upside_2027q2_cad_usd:upside/valueNone0.73
/operating_model/cells/upside_2027q2_capex:upside/basisNoneConsolidated external investment includes domestic expansion and controlled JV plant; internal capital contributions are not counted again.
/operating_model/cells/upside_2027q2_capex:upside/caseNoneupside
/operating_model/cells/upside_2027q2_capex:upside/idNoneupside_2027q2_capex
/operating_model/cells/upside_2027q2_capex:upside/kindNoneassumption
/operating_model/cells/upside_2027q2_capex:upside/labelNoneExternal PP&E domestic and controlled-JV cash
/operating_model/cells/upside_2027q2_capex:upside/periodNone2027Q2
/operating_model/cells/upside_2027q2_capex:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q2_capex:upside/valueNone55.0
/operating_model/cells/upside_2027q2_cash_after_funding:upside/basisNonePeriod flow only; no claim that preferred cash is freely distributable.
/operating_model/cells/upside_2027q2_cash_after_funding:upside/caseNoneupside
/operating_model/cells/upside_2027q2_cash_after_funding:upside/formula/opNonesum
/operating_model/cells/upside_2027q2_cash_after_funding:upside/formula/refs/0Noneupside_2027q2_cash_after_investing
/operating_model/cells/upside_2027q2_cash_after_funding:upside/formula/refs/1Noneupside_2027q2_preferred_funding
/operating_model/cells/upside_2027q2_cash_after_funding:upside/idNoneupside_2027q2_cash_after_funding
/operating_model/cells/upside_2027q2_cash_after_funding:upside/kindNonederived
/operating_model/cells/upside_2027q2_cash_after_funding:upside/labelNoneCash after preferred financing
/operating_model/cells/upside_2027q2_cash_after_funding:upside/periodNone2027Q2
/operating_model/cells/upside_2027q2_cash_after_funding:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q2_cash_after_funding:upside/valueNone-98.19683549999999
/operating_model/cells/upside_2027q2_cash_after_investing:upside/basisNoneBefore preferred funding and other capital allocation.
/operating_model/cells/upside_2027q2_cash_after_investing:upside/caseNoneupside
/operating_model/cells/upside_2027q2_cash_after_investing:upside/formula/opNonesubtract
/operating_model/cells/upside_2027q2_cash_after_investing:upside/formula/refs/0Noneupside_2027q2_cfo
/operating_model/cells/upside_2027q2_cash_after_investing:upside/formula/refs/1Noneupside_2027q2_business_investment
/operating_model/cells/upside_2027q2_cash_after_investing:upside/idNoneupside_2027q2_cash_after_investing
/operating_model/cells/upside_2027q2_cash_after_investing:upside/kindNonederived
/operating_model/cells/upside_2027q2_cash_after_investing:upside/labelNoneCash after business investing
/operating_model/cells/upside_2027q2_cash_after_investing:upside/periodNone2027Q2
/operating_model/cells/upside_2027q2_cash_after_investing:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q2_cash_after_investing:upside/valueNone-98.19683549999999
/operating_model/cells/upside_2027q2_cash_bonus:upside/basisNoneMaximum September award shown as a Q2 2027 cash/expense sensitivity, conditional on employment and measurement criteria; not SBC.
/operating_model/cells/upside_2027q2_cash_bonus:upside/caseNoneupside
/operating_model/cells/upside_2027q2_cash_bonus:upside/idNoneupside_2027q2_cash_bonus
/operating_model/cells/upside_2027q2_cash_bonus:upside/kindNoneassumption
/operating_model/cells/upside_2027q2_cash_bonus:upside/labelNonePerformance cash-bonus allowance
/operating_model/cells/upside_2027q2_cash_bonus:upside/periodNone2027Q2
/operating_model/cells/upside_2027q2_cash_bonus:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q2_cash_bonus:upside/valueNone3.0
/operating_model/cells/upside_2027q2_cash_interest:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q2_cash_interest:upside/caseNoneupside
/operating_model/cells/upside_2027q2_cash_interest:upside/idNoneupside_2027q2_cash_interest
/operating_model/cells/upside_2027q2_cash_interest:upside/kindNoneassumption
/operating_model/cells/upside_2027q2_cash_interest:upside/labelNoneCash debt interest
/operating_model/cells/upside_2027q2_cash_interest:upside/periodNone2027Q2
/operating_model/cells/upside_2027q2_cash_interest:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q2_cash_interest:upside/valueNone0.2
/operating_model/cells/upside_2027q2_cash_interest_income:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q2_cash_interest_income:upside/caseNoneupside
/operating_model/cells/upside_2027q2_cash_interest_income:upside/idNoneupside_2027q2_cash_interest_income
/operating_model/cells/upside_2027q2_cash_interest_income:upside/kindNoneassumption
/operating_model/cells/upside_2027q2_cash_interest_income:upside/labelNoneCash interest income
/operating_model/cells/upside_2027q2_cash_interest_income:upside/periodNone2027Q2
/operating_model/cells/upside_2027q2_cash_interest_income:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q2_cash_interest_income:upside/valueNone2.0
/operating_model/cells/upside_2027q2_cash_opex:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q2_cash_opex:upside/caseNoneupside
/operating_model/cells/upside_2027q2_cash_opex:upside/idNoneupside_2027q2_cash_opex
/operating_model/cells/upside_2027q2_cash_opex:upside/kindNoneassumption
/operating_model/cells/upside_2027q2_cash_opex:upside/labelNoneCash corporate R&D and selling expense
/operating_model/cells/upside_2027q2_cash_opex:upside/periodNone2027Q2
/operating_model/cells/upside_2027q2_cash_opex:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q2_cash_opex:upside/valueNone15.3
/operating_model/cells/upside_2027q2_cash_tax:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q2_cash_tax:upside/caseNoneupside
/operating_model/cells/upside_2027q2_cash_tax:upside/idNoneupside_2027q2_cash_tax
/operating_model/cells/upside_2027q2_cash_tax:upside/kindNoneassumption
/operating_model/cells/upside_2027q2_cash_tax:upside/labelNoneCash tax
/operating_model/cells/upside_2027q2_cash_tax:upside/periodNone2027Q2
/operating_model/cells/upside_2027q2_cash_tax:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q2_cash_tax:upside/valueNone3.5
/operating_model/cells/upside_2027q2_cash_uses:upside/basisNoneProject input prepayments are shown separately in strategic cash.
/operating_model/cells/upside_2027q2_cash_uses:upside/caseNoneupside
/operating_model/cells/upside_2027q2_cash_uses:upside/formula/opNonesum
/operating_model/cells/upside_2027q2_cash_uses:upside/formula/refs/0Noneupside_2027q2_cash_tax
/operating_model/cells/upside_2027q2_cash_uses:upside/formula/refs/1Noneupside_2027q2_cash_interest
/operating_model/cells/upside_2027q2_cash_uses:upside/formula/refs/2Noneupside_2027q2_inventory_other_cash
/operating_model/cells/upside_2027q2_cash_uses:upside/formula/refs/3Noneupside_2027q2_pass_inventory_cash
/operating_model/cells/upside_2027q2_cash_uses:upside/idNoneupside_2027q2_cash_uses
/operating_model/cells/upside_2027q2_cash_uses:upside/kindNonederived
/operating_model/cells/upside_2027q2_cash_uses:upside/labelNoneTax interest and working capital
/operating_model/cells/upside_2027q2_cash_uses:upside/periodNone2027Q2
/operating_model/cells/upside_2027q2_cash_uses:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q2_cash_uses:upside/valueNone29.7
/operating_model/cells/upside_2027q2_cfo:upside/basisNoneNo current-period preferred cash dividend.
/operating_model/cells/upside_2027q2_cfo:upside/caseNoneupside
/operating_model/cells/upside_2027q2_cfo:upside/formula/opNonesubtract
/operating_model/cells/upside_2027q2_cfo:upside/formula/refs/0Noneupside_2027q2_operating_cash_earnings
/operating_model/cells/upside_2027q2_cfo:upside/formula/refs/1Noneupside_2027q2_cash_uses
/operating_model/cells/upside_2027q2_cfo:upside/idNoneupside_2027q2_cfo
/operating_model/cells/upside_2027q2_cfo:upside/kindNonederived
/operating_model/cells/upside_2027q2_cfo:upside/labelNoneOperating cash flow proxy
/operating_model/cells/upside_2027q2_cfo:upside/periodNone2027Q2
/operating_model/cells/upside_2027q2_cfo:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q2_cfo:upside/valueNone-18.1968355
/operating_model/cells/upside_2027q2_core_margin:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q2_core_margin:upside/caseNoneupside
/operating_model/cells/upside_2027q2_core_margin:upside/idNoneupside_2027q2_core_margin
/operating_model/cells/upside_2027q2_core_margin:upside/kindNoneassumption
/operating_model/cells/upside_2027q2_core_margin:upside/labelNoneCore gross margin
/operating_model/cells/upside_2027q2_core_margin:upside/periodNone2027Q2
/operating_model/cells/upside_2027q2_core_margin:upside/unitNoneratio
/operating_model/cells/upside_2027q2_core_margin:upside/valueNone0.27
/operating_model/cells/upside_2027q2_core_revenue:upside/basisNoneCurrent manufacturing and conditional acquired operations; stockpile is separate.
/operating_model/cells/upside_2027q2_core_revenue:upside/caseNoneupside
/operating_model/cells/upside_2027q2_core_revenue:upside/formula/opNonesum
/operating_model/cells/upside_2027q2_core_revenue:upside/formula/refs/0Noneupside_2027q2_legacy_demand
/operating_model/cells/upside_2027q2_core_revenue:upside/formula/refs/1Noneupside_2027q2_metal_pass
/operating_model/cells/upside_2027q2_core_revenue:upside/formula/refs/2Noneupside_2027q2_german_revenue
/operating_model/cells/upside_2027q2_core_revenue:upside/idNoneupside_2027q2_core_revenue
/operating_model/cells/upside_2027q2_core_revenue:upside/kindNonederived
/operating_model/cells/upside_2027q2_core_revenue:upside/labelNoneCore and acquired revenue
/operating_model/cells/upside_2027q2_core_revenue:upside/periodNone2027Q2
/operating_model/cells/upside_2027q2_core_revenue:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q2_core_revenue:upside/valueNone103.64135
/operating_model/cells/upside_2027q2_da:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q2_da:upside/caseNoneupside
/operating_model/cells/upside_2027q2_da:upside/idNoneupside_2027q2_da
/operating_model/cells/upside_2027q2_da:upside/kindNoneassumption
/operating_model/cells/upside_2027q2_da:upside/labelNoneOperating D&A
/operating_model/cells/upside_2027q2_da:upside/periodNone2027Q2
/operating_model/cells/upside_2027q2_da:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q2_da:upside/valueNone3.5
/operating_model/cells/upside_2027q2_demand_index:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q2_demand_index:upside/caseNoneupside
/operating_model/cells/upside_2027q2_demand_index:upside/idNoneupside_2027q2_demand_index
/operating_model/cells/upside_2027q2_demand_index:upside/kindNoneassumption
/operating_model/cells/upside_2027q2_demand_index:upside/labelNoneNet volume and mix versus Q2
/operating_model/cells/upside_2027q2_demand_index:upside/periodNone2027Q2
/operating_model/cells/upside_2027q2_demand_index:upside/unitNoneratio
/operating_model/cells/upside_2027q2_demand_index:upside/valueNone1.35
/operating_model/cells/upside_2027q2_eur_usd:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q2_eur_usd:upside/caseNoneupside
/operating_model/cells/upside_2027q2_eur_usd:upside/idNoneupside_2027q2_eur_usd
/operating_model/cells/upside_2027q2_eur_usd:upside/kindNoneassumption
/operating_model/cells/upside_2027q2_eur_usd:upside/labelNoneUSD per EUR conversion
/operating_model/cells/upside_2027q2_eur_usd:upside/periodNone2027Q2
/operating_model/cells/upside_2027q2_eur_usd:upside/unitNoneratio
/operating_model/cells/upside_2027q2_eur_usd:upside/valueNone1.08
/operating_model/cells/upside_2027q2_funding_weight:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q2_funding_weight:upside/caseNoneupside
/operating_model/cells/upside_2027q2_funding_weight:upside/idNoneupside_2027q2_funding_weight
/operating_model/cells/upside_2027q2_funding_weight:upside/kindNoneassumption
/operating_model/cells/upside_2027q2_funding_weight:upside/labelNoneNew funding quarter weight
/operating_model/cells/upside_2027q2_funding_weight:upside/periodNone2027Q2
/operating_model/cells/upside_2027q2_funding_weight:upside/unitNoneratio
/operating_model/cells/upside_2027q2_funding_weight:upside/valueNone0.25
/operating_model/cells/upside_2027q2_german_eur_amount:upside/basisNoneDesk working capital and net pension assumptions in contractual price formula; signed amount can be negative.
/operating_model/cells/upside_2027q2_german_eur_amount:upside/caseNoneupside
/operating_model/cells/upside_2027q2_german_eur_amount:upside/idNoneupside_2027q2_german_eur_amount
/operating_model/cells/upside_2027q2_german_eur_amount:upside/kindNoneassumption
/operating_model/cells/upside_2027q2_german_eur_amount:upside/labelNoneGerman net price sensitivity, EUR millions represented at 1:1 before FX
/operating_model/cells/upside_2027q2_german_eur_amount:upside/periodNone2027Q2
/operating_model/cells/upside_2027q2_german_eur_amount:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q2_german_eur_amount:upside/valueNone0.0
/operating_model/cells/upside_2027q2_german_gross:upside/basisNoneUnverified post-close margin.
/operating_model/cells/upside_2027q2_german_gross:upside/caseNoneupside
/operating_model/cells/upside_2027q2_german_gross:upside/formula/opNonemultiply
/operating_model/cells/upside_2027q2_german_gross:upside/formula/refs/0Noneupside_2027q2_german_revenue
/operating_model/cells/upside_2027q2_german_gross:upside/formula/refs/1Noneupside_2027q2_german_margin
/operating_model/cells/upside_2027q2_german_gross:upside/idNoneupside_2027q2_german_gross
/operating_model/cells/upside_2027q2_german_gross:upside/kindNonederived
/operating_model/cells/upside_2027q2_german_gross:upside/labelNoneGerman gross contribution
/operating_model/cells/upside_2027q2_german_gross:upside/periodNone2027Q2
/operating_model/cells/upside_2027q2_german_gross:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q2_german_gross:upside/valueNone1.7999999999999998
/operating_model/cells/upside_2027q2_german_margin:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q2_german_margin:upside/caseNoneupside
/operating_model/cells/upside_2027q2_german_margin:upside/idNoneupside_2027q2_german_margin
/operating_model/cells/upside_2027q2_german_margin:upside/kindNoneassumption
/operating_model/cells/upside_2027q2_german_margin:upside/labelNoneAcquired gross margin
/operating_model/cells/upside_2027q2_german_margin:upside/periodNone2027Q2
/operating_model/cells/upside_2027q2_german_margin:upside/unitNoneratio
/operating_model/cells/upside_2027q2_german_margin:upside/valueNone0.18
/operating_model/cells/upside_2027q2_german_price:upside/basisNoneScenario only; metal inventory and pension measurement can materially change final consideration.
/operating_model/cells/upside_2027q2_german_price:upside/caseNoneupside
/operating_model/cells/upside_2027q2_german_price:upside/formula/opNonemultiply
/operating_model/cells/upside_2027q2_german_price:upside/formula/refs/0Noneupside_2027q2_german_eur_amount
/operating_model/cells/upside_2027q2_german_price:upside/formula/refs/1Noneupside_2027q2_eur_usd
/operating_model/cells/upside_2027q2_german_price:upside/idNoneupside_2027q2_german_price
/operating_model/cells/upside_2027q2_german_price:upside/kindNonederived
/operating_model/cells/upside_2027q2_german_price:upside/labelNoneConditional German closing cash in USD
/operating_model/cells/upside_2027q2_german_price:upside/periodNone2027Q2
/operating_model/cells/upside_2027q2_german_price:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q2_german_price:upside/valueNone0.0
/operating_model/cells/upside_2027q2_german_revenue:upside/basisNoneDesk acquired-period contribution only after assumed closing; transaction remains conditional.
/operating_model/cells/upside_2027q2_german_revenue:upside/caseNoneupside
/operating_model/cells/upside_2027q2_german_revenue:upside/idNoneupside_2027q2_german_revenue
/operating_model/cells/upside_2027q2_german_revenue:upside/kindNoneassumption
/operating_model/cells/upside_2027q2_german_revenue:upside/labelNoneConditional acquired German revenue
/operating_model/cells/upside_2027q2_german_revenue:upside/periodNone2027Q2
/operating_model/cells/upside_2027q2_german_revenue:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q2_german_revenue:upside/valueNone10.0
/operating_model/cells/upside_2027q2_gross_profit:upside/basisNoneCompany forecasts are not supplied for the new program.
/operating_model/cells/upside_2027q2_gross_profit:upside/caseNoneupside
/operating_model/cells/upside_2027q2_gross_profit:upside/formula/opNonesum
/operating_model/cells/upside_2027q2_gross_profit:upside/formula/refs/0Noneupside_2027q2_legacy_gross
/operating_model/cells/upside_2027q2_gross_profit:upside/formula/refs/1Noneupside_2027q2_price_gross
/operating_model/cells/upside_2027q2_gross_profit:upside/formula/refs/2Noneupside_2027q2_german_gross
/operating_model/cells/upside_2027q2_gross_profit:upside/formula/refs/3Noneupside_2027q2_stockpile_gross
/operating_model/cells/upside_2027q2_gross_profit:upside/idNoneupside_2027q2_gross_profit
/operating_model/cells/upside_2027q2_gross_profit:upside/kindNonederived
/operating_model/cells/upside_2027q2_gross_profit:upside/labelNoneGross profit proxy
/operating_model/cells/upside_2027q2_gross_profit:upside/periodNone2027Q2
/operating_model/cells/upside_2027q2_gross_profit:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q2_gross_profit:upside/valueNone27.803164500000005
/operating_model/cells/upside_2027q2_inventory_other_cash:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q2_inventory_other_cash:upside/caseNoneupside
/operating_model/cells/upside_2027q2_inventory_other_cash:upside/idNoneupside_2027q2_inventory_other_cash
/operating_model/cells/upside_2027q2_inventory_other_cash:upside/kindNoneassumption
/operating_model/cells/upside_2027q2_inventory_other_cash:upside/labelNoneInventory and other working-capital use
/operating_model/cells/upside_2027q2_inventory_other_cash:upside/periodNone2027Q2
/operating_model/cells/upside_2027q2_inventory_other_cash:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q2_inventory_other_cash:upside/valueNone24.0
/operating_model/cells/upside_2027q2_inventory_price_fraction:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q2_inventory_price_fraction:upside/caseNoneupside
/operating_model/cells/upside_2027q2_inventory_price_fraction:upside/idNoneupside_2027q2_inventory_price_fraction
/operating_model/cells/upside_2027q2_inventory_price_fraction:upside/kindNoneassumption
/operating_model/cells/upside_2027q2_inventory_price_fraction:upside/labelNonePrice-related inventory funding share
/operating_model/cells/upside_2027q2_inventory_price_fraction:upside/periodNone2027Q2
/operating_model/cells/upside_2027q2_inventory_price_fraction:upside/unitNoneratio
/operating_model/cells/upside_2027q2_inventory_price_fraction:upside/valueNone0.5
/operating_model/cells/upside_2027q2_legacy_demand:upside/basisNoneDemand separated from incremental metal-price pass-through.
/operating_model/cells/upside_2027q2_legacy_demand:upside/caseNoneupside
/operating_model/cells/upside_2027q2_legacy_demand:upside/formula/opNonemultiply
/operating_model/cells/upside_2027q2_legacy_demand:upside/formula/refs/0Noneq2_revenue
/operating_model/cells/upside_2027q2_legacy_demand:upside/formula/refs/1Noneupside_2027q2_demand_index
/operating_model/cells/upside_2027q2_legacy_demand:upside/idNoneupside_2027q2_legacy_demand
/operating_model/cells/upside_2027q2_legacy_demand:upside/kindNonederived
/operating_model/cells/upside_2027q2_legacy_demand:upside/labelNoneLegacy revenue at reference metal prices
/operating_model/cells/upside_2027q2_legacy_demand:upside/periodNone2027Q2
/operating_model/cells/upside_2027q2_legacy_demand:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q2_legacy_demand:upside/valueNone89.64135
/operating_model/cells/upside_2027q2_legacy_gross:upside/basisNoneIndependent operating-margin scenario.
/operating_model/cells/upside_2027q2_legacy_gross:upside/caseNoneupside
/operating_model/cells/upside_2027q2_legacy_gross:upside/formula/opNonemultiply
/operating_model/cells/upside_2027q2_legacy_gross:upside/formula/refs/0Noneupside_2027q2_legacy_demand
/operating_model/cells/upside_2027q2_legacy_gross:upside/formula/refs/1Noneupside_2027q2_core_margin
/operating_model/cells/upside_2027q2_legacy_gross:upside/idNoneupside_2027q2_legacy_gross
/operating_model/cells/upside_2027q2_legacy_gross:upside/kindNonederived
/operating_model/cells/upside_2027q2_legacy_gross:upside/labelNoneLegacy gross profit
/operating_model/cells/upside_2027q2_legacy_gross:upside/periodNone2027Q2
/operating_model/cells/upside_2027q2_legacy_gross:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q2_legacy_gross:upside/valueNone24.203164500000003
/operating_model/cells/upside_2027q2_metal_cost:upside/basisNoneAt 100% pass-through, higher commodity prices do not create gross profit.
/operating_model/cells/upside_2027q2_metal_cost:upside/caseNoneupside
/operating_model/cells/upside_2027q2_metal_cost:upside/formula/opNonemultiply
/operating_model/cells/upside_2027q2_metal_cost:upside/formula/refs/0Noneupside_2027q2_metal_pass
/operating_model/cells/upside_2027q2_metal_cost:upside/formula/refs/1Noneupside_2027q2_pass_cost_ratio
/operating_model/cells/upside_2027q2_metal_cost:upside/idNoneupside_2027q2_metal_cost
/operating_model/cells/upside_2027q2_metal_cost:upside/kindNonederived
/operating_model/cells/upside_2027q2_metal_cost:upside/labelNoneMatched input price cost
/operating_model/cells/upside_2027q2_metal_cost:upside/periodNone2027Q2
/operating_model/cells/upside_2027q2_metal_cost:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q2_metal_cost:upside/valueNone4.0
/operating_model/cells/upside_2027q2_metal_pass:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q2_metal_pass:upside/caseNoneupside
/operating_model/cells/upside_2027q2_metal_pass:upside/idNoneupside_2027q2_metal_pass
/operating_model/cells/upside_2027q2_metal_pass:upside/kindNoneassumption
/operating_model/cells/upside_2027q2_metal_pass:upside/labelNoneIncremental raw-material price pass-through
/operating_model/cells/upside_2027q2_metal_pass:upside/periodNone2027Q2
/operating_model/cells/upside_2027q2_metal_pass:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q2_metal_pass:upside/valueNone4.0
/operating_model/cells/upside_2027q2_new_pik_basis:upside/basisNoneInitial 19-day approximate accrual; later tranches assumed late-quarter.
/operating_model/cells/upside_2027q2_new_pik_basis:upside/caseNoneupside
/operating_model/cells/upside_2027q2_new_pik_basis:upside/formula/opNonemultiply
/operating_model/cells/upside_2027q2_new_pik_basis:upside/formula/refs/0Noneupside_2027q2_preferred_funding
/operating_model/cells/upside_2027q2_new_pik_basis:upside/formula/refs/1Noneupside_2027q2_funding_weight
/operating_model/cells/upside_2027q2_new_pik_basis:upside/idNoneupside_2027q2_new_pik_basis
/operating_model/cells/upside_2027q2_new_pik_basis:upside/kindNonederived
/operating_model/cells/upside_2027q2_new_pik_basis:upside/labelNoneNew funding weighted for partial quarter
/operating_model/cells/upside_2027q2_new_pik_basis:upside/periodNone2027Q2
/operating_model/cells/upside_2027q2_new_pik_basis:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q2_new_pik_basis:upside/valueNone0.0
/operating_model/cells/upside_2027q2_operating_cash_earnings:upside/basisNoneNo debt forgiveness or financing gain.
/operating_model/cells/upside_2027q2_operating_cash_earnings:upside/caseNoneupside
/operating_model/cells/upside_2027q2_operating_cash_earnings:upside/formula/opNonesum
/operating_model/cells/upside_2027q2_operating_cash_earnings:upside/formula/refs/0Noneupside_2027q2_operating_income
/operating_model/cells/upside_2027q2_operating_cash_earnings:upside/formula/refs/1Noneupside_2027q2_sbc
/operating_model/cells/upside_2027q2_operating_cash_earnings:upside/formula/refs/2Noneupside_2027q2_da
/operating_model/cells/upside_2027q2_operating_cash_earnings:upside/formula/refs/3Noneupside_2027q2_cash_interest_income
/operating_model/cells/upside_2027q2_operating_cash_earnings:upside/idNoneupside_2027q2_operating_cash_earnings
/operating_model/cells/upside_2027q2_operating_cash_earnings:upside/kindNonederived
/operating_model/cells/upside_2027q2_operating_cash_earnings:upside/labelNoneOperating earnings plus noncash and interest
/operating_model/cells/upside_2027q2_operating_cash_earnings:upside/periodNone2027Q2
/operating_model/cells/upside_2027q2_operating_cash_earnings:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q2_operating_cash_earnings:upside/valueNone11.503164500000002
/operating_model/cells/upside_2027q2_operating_income:upside/basisNonePreferred PIK is below operating economics, not operating expense.
/operating_model/cells/upside_2027q2_operating_income:upside/caseNoneupside
/operating_model/cells/upside_2027q2_operating_income:upside/formula/opNonesubtract
/operating_model/cells/upside_2027q2_operating_income:upside/formula/refs/0Noneupside_2027q2_gross_profit
/operating_model/cells/upside_2027q2_operating_income:upside/formula/refs/1Noneupside_2027q2_opex
/operating_model/cells/upside_2027q2_operating_income:upside/idNoneupside_2027q2_operating_income
/operating_model/cells/upside_2027q2_operating_income:upside/kindNonederived
/operating_model/cells/upside_2027q2_operating_income:upside/labelNoneOperating income proxy
/operating_model/cells/upside_2027q2_operating_income:upside/periodNone2027Q2
/operating_model/cells/upside_2027q2_operating_income:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q2_operating_income:upside/valueNone3.4031645000000026
/operating_model/cells/upside_2027q2_opex:upside/basisNoneNo repeat of H1 IPO SBC as if recurring every quarter.
/operating_model/cells/upside_2027q2_opex:upside/caseNoneupside
/operating_model/cells/upside_2027q2_opex:upside/formula/opNonesum
/operating_model/cells/upside_2027q2_opex:upside/formula/refs/0Noneupside_2027q2_cash_opex
/operating_model/cells/upside_2027q2_opex:upside/formula/refs/1Noneupside_2027q2_sbc
/operating_model/cells/upside_2027q2_opex:upside/formula/refs/2Noneupside_2027q2_da
/operating_model/cells/upside_2027q2_opex:upside/formula/refs/3Noneupside_2027q2_cash_bonus
/operating_model/cells/upside_2027q2_opex:upside/idNoneupside_2027q2_opex
/operating_model/cells/upside_2027q2_opex:upside/kindNonederived
/operating_model/cells/upside_2027q2_opex:upside/labelNoneCash overhead SBC and D&A
/operating_model/cells/upside_2027q2_opex:upside/periodNone2027Q2
/operating_model/cells/upside_2027q2_opex:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q2_opex:upside/valueNone24.400000000000002
/operating_model/cells/upside_2027q2_pass_cost_ratio:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q2_pass_cost_ratio:upside/caseNoneupside
/operating_model/cells/upside_2027q2_pass_cost_ratio:upside/idNoneupside_2027q2_pass_cost_ratio
/operating_model/cells/upside_2027q2_pass_cost_ratio:upside/kindNoneassumption
/operating_model/cells/upside_2027q2_pass_cost_ratio:upside/labelNoneInput-cost share of pass-through
/operating_model/cells/upside_2027q2_pass_cost_ratio:upside/periodNone2027Q2
/operating_model/cells/upside_2027q2_pass_cost_ratio:upside/unitNoneratio
/operating_model/cells/upside_2027q2_pass_cost_ratio:upside/valueNone1.0
/operating_model/cells/upside_2027q2_pass_inventory_cash:upside/basisNoneCommodity inflation can tie up cash despite matched gross profit.
/operating_model/cells/upside_2027q2_pass_inventory_cash:upside/caseNoneupside
/operating_model/cells/upside_2027q2_pass_inventory_cash:upside/formula/opNonemultiply
/operating_model/cells/upside_2027q2_pass_inventory_cash:upside/formula/refs/0Noneupside_2027q2_metal_pass
/operating_model/cells/upside_2027q2_pass_inventory_cash:upside/formula/refs/1Noneupside_2027q2_inventory_price_fraction
/operating_model/cells/upside_2027q2_pass_inventory_cash:upside/idNoneupside_2027q2_pass_inventory_cash
/operating_model/cells/upside_2027q2_pass_inventory_cash:upside/kindNonederived
/operating_model/cells/upside_2027q2_pass_inventory_cash:upside/labelNoneAdditional price-related inventory funding
/operating_model/cells/upside_2027q2_pass_inventory_cash:upside/periodNone2027Q2
/operating_model/cells/upside_2027q2_pass_inventory_cash:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q2_pass_inventory_cash:upside/valueNone2.0
/operating_model/cells/upside_2027q2_pik_basis:upside/basisNoneExisting balance includes prior PIK compounding.
/operating_model/cells/upside_2027q2_pik_basis:upside/caseNoneupside
/operating_model/cells/upside_2027q2_pik_basis:upside/formula/opNonesum
/operating_model/cells/upside_2027q2_pik_basis:upside/formula/refs/0Noneupside_2027q1_preferred_ending
/operating_model/cells/upside_2027q2_pik_basis:upside/formula/refs/1Noneupside_2027q2_new_pik_basis
/operating_model/cells/upside_2027q2_pik_basis:upside/idNoneupside_2027q2_pik_basis
/operating_model/cells/upside_2027q2_pik_basis:upside/kindNonederived
/operating_model/cells/upside_2027q2_pik_basis:upside/labelNoneWeighted preferred claim for PIK
/operating_model/cells/upside_2027q2_pik_basis:upside/periodNone2027Q2
/operating_model/cells/upside_2027q2_pik_basis:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q2_pik_basis:upside/valueNone256.2997617144574
/operating_model/cells/upside_2027q2_preferred_ending:upside/basisNoneStock balance, not an annual flow; ignores warrant-linked liquidation preference reductions.
/operating_model/cells/upside_2027q2_preferred_ending:upside/caseNoneupside
/operating_model/cells/upside_2027q2_preferred_ending:upside/formula/opNonesum
/operating_model/cells/upside_2027q2_preferred_ending:upside/formula/refs/0Noneupside_2027q1_preferred_ending
/operating_model/cells/upside_2027q2_preferred_ending:upside/formula/refs/1Noneupside_2027q2_preferred_funding
/operating_model/cells/upside_2027q2_preferred_ending:upside/formula/refs/2Noneupside_2027q2_preferred_pik
/operating_model/cells/upside_2027q2_preferred_ending:upside/idNoneupside_2027q2_preferred_ending
/operating_model/cells/upside_2027q2_preferred_ending:upside/kindNonederived
/operating_model/cells/upside_2027q2_preferred_ending:upside/labelNoneEnding preferred claim before warrant adjustments
/operating_model/cells/upside_2027q2_preferred_ending:upside/periodNone2027Q2
/operating_model/cells/upside_2027q2_preferred_ending:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q2_preferred_ending:upside/valueNone259.8238834380312
/operating_model/cells/upside_2027q2_preferred_funding:upside/basisNoneInitial $200M received September 14; any later $50M receipt is conditional and respects six-month tranche availability.
/operating_model/cells/upside_2027q2_preferred_funding:upside/caseNoneupside
/operating_model/cells/upside_2027q2_preferred_funding:upside/idNoneupside_2027q2_preferred_funding
/operating_model/cells/upside_2027q2_preferred_funding:upside/kindNoneassumption
/operating_model/cells/upside_2027q2_preferred_funding:upside/labelNonePreferred financing receipts
/operating_model/cells/upside_2027q2_preferred_funding:upside/periodNone2027Q2
/operating_model/cells/upside_2027q2_preferred_funding:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q2_preferred_funding:upside/valueNone0.0
/operating_model/cells/upside_2027q2_preferred_pik:upside/basisNoneNoncash senior claim; no deduction from current-period cash.
/operating_model/cells/upside_2027q2_preferred_pik:upside/caseNoneupside
/operating_model/cells/upside_2027q2_preferred_pik:upside/formula/opNonemultiply
/operating_model/cells/upside_2027q2_preferred_pik:upside/formula/refs/0Noneupside_2027q2_pik_basis
/operating_model/cells/upside_2027q2_preferred_pik:upside/formula/refs/1Nonepreferred_rate
/operating_model/cells/upside_2027q2_preferred_pik:upside/formula/refs/2Noneupside_2027q2_quarter_year
/operating_model/cells/upside_2027q2_preferred_pik:upside/idNoneupside_2027q2_preferred_pik
/operating_model/cells/upside_2027q2_preferred_pik:upside/kindNonederived
/operating_model/cells/upside_2027q2_preferred_pik:upside/labelNonePreferred economic PIK accrual
/operating_model/cells/upside_2027q2_preferred_pik:upside/periodNone2027Q2
/operating_model/cells/upside_2027q2_preferred_pik:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q2_preferred_pik:upside/valueNone3.5241217235737894
/operating_model/cells/upside_2027q2_price_gross:upside/basisNoneMismatch sensitivity is explicit.
/operating_model/cells/upside_2027q2_price_gross:upside/caseNoneupside
/operating_model/cells/upside_2027q2_price_gross:upside/formula/opNonesubtract
/operating_model/cells/upside_2027q2_price_gross:upside/formula/refs/0Noneupside_2027q2_metal_pass
/operating_model/cells/upside_2027q2_price_gross:upside/formula/refs/1Noneupside_2027q2_metal_cost
/operating_model/cells/upside_2027q2_price_gross:upside/idNoneupside_2027q2_price_gross
/operating_model/cells/upside_2027q2_price_gross:upside/kindNonederived
/operating_model/cells/upside_2027q2_price_gross:upside/labelNoneIncremental price pass-through gross profit
/operating_model/cells/upside_2027q2_price_gross:upside/periodNone2027Q2
/operating_model/cells/upside_2027q2_price_gross:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q2_price_gross:upside/valueNone0.0
/operating_model/cells/upside_2027q2_quarter_year:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q2_quarter_year:upside/caseNoneupside
/operating_model/cells/upside_2027q2_quarter_year:upside/idNoneupside_2027q2_quarter_year
/operating_model/cells/upside_2027q2_quarter_year:upside/kindNoneassumption
/operating_model/cells/upside_2027q2_quarter_year:upside/labelNoneQuarter-year fraction
/operating_model/cells/upside_2027q2_quarter_year:upside/periodNone2027Q2
/operating_model/cells/upside_2027q2_quarter_year:upside/unitNoneratio
/operating_model/cells/upside_2027q2_quarter_year:upside/valueNone0.25
/operating_model/cells/upside_2027q2_raw_prepay:upside/basisNoneDesk first and milestone-conditioned second $25M funding; later negative amounts are consumption/settlement credits, not new revenue.
/operating_model/cells/upside_2027q2_raw_prepay:upside/caseNoneupside
/operating_model/cells/upside_2027q2_raw_prepay:upside/idNoneupside_2027q2_raw_prepay
/operating_model/cells/upside_2027q2_raw_prepay:upside/kindNoneassumption
/operating_model/cells/upside_2027q2_raw_prepay:upside/labelNoneNet new raw-material prepayments
/operating_model/cells/upside_2027q2_raw_prepay:upside/periodNone2027Q2
/operating_model/cells/upside_2027q2_raw_prepay:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q2_raw_prepay:upside/valueNone25.0
/operating_model/cells/upside_2027q2_revenue:upside/basisNoneNo recognition of preferred funding as revenue.
/operating_model/cells/upside_2027q2_revenue:upside/caseNoneupside
/operating_model/cells/upside_2027q2_revenue:upside/formula/opNonesum
/operating_model/cells/upside_2027q2_revenue:upside/formula/refs/0Noneupside_2027q2_core_revenue
/operating_model/cells/upside_2027q2_revenue:upside/formula/refs/1Noneupside_2027q2_stockpile_revenue
/operating_model/cells/upside_2027q2_revenue:upside/idNoneupside_2027q2_revenue
/operating_model/cells/upside_2027q2_revenue:upside/kindNonederived
/operating_model/cells/upside_2027q2_revenue:upside/labelNoneTotal revenue
/operating_model/cells/upside_2027q2_revenue:upside/periodNone2027Q2
/operating_model/cells/upside_2027q2_revenue:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q2_revenue:upside/valueNone118.64135
/operating_model/cells/upside_2027q2_sbc:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q2_sbc:upside/caseNoneupside
/operating_model/cells/upside_2027q2_sbc:upside/idNoneupside_2027q2_sbc
/operating_model/cells/upside_2027q2_sbc:upside/kindNoneassumption
/operating_model/cells/upside_2027q2_sbc:upside/labelNoneSBC
/operating_model/cells/upside_2027q2_sbc:upside/periodNone2027Q2
/operating_model/cells/upside_2027q2_sbc:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q2_sbc:upside/valueNone2.6
/operating_model/cells/upside_2027q2_stock_margin:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q2_stock_margin:upside/caseNoneupside
/operating_model/cells/upside_2027q2_stock_margin:upside/idNoneupside_2027q2_stock_margin
/operating_model/cells/upside_2027q2_stock_margin:upside/kindNoneassumption
/operating_model/cells/upside_2027q2_stock_margin:upside/labelNoneStockpile gross margin
/operating_model/cells/upside_2027q2_stock_margin:upside/periodNone2027Q2
/operating_model/cells/upside_2027q2_stock_margin:upside/unitNoneratio
/operating_model/cells/upside_2027q2_stock_margin:upside/valueNone0.12
/operating_model/cells/upside_2027q2_stockpile_gross:upside/basisNoneProcured input cost is reflected in margin; no unsupported floor-price assumption.
/operating_model/cells/upside_2027q2_stockpile_gross:upside/caseNoneupside
/operating_model/cells/upside_2027q2_stockpile_gross:upside/formula/opNonemultiply
/operating_model/cells/upside_2027q2_stockpile_gross:upside/formula/refs/0Noneupside_2027q2_stockpile_revenue
/operating_model/cells/upside_2027q2_stockpile_gross:upside/formula/refs/1Noneupside_2027q2_stock_margin
/operating_model/cells/upside_2027q2_stockpile_gross:upside/idNoneupside_2027q2_stockpile_gross
/operating_model/cells/upside_2027q2_stockpile_gross:upside/kindNonederived
/operating_model/cells/upside_2027q2_stockpile_gross:upside/labelNoneStockpile gross contribution
/operating_model/cells/upside_2027q2_stockpile_gross:upside/periodNone2027Q2
/operating_model/cells/upside_2027q2_stockpile_gross:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q2_stockpile_gross:upside/valueNone1.7999999999999998
/operating_model/cells/upside_2027q2_stockpile_revenue:upside/basisNoneSupply-qualified delivery assumption, not pro-rata recognition of the contract ceiling or minimum.
/operating_model/cells/upside_2027q2_stockpile_revenue:upside/caseNoneupside
/operating_model/cells/upside_2027q2_stockpile_revenue:upside/idNoneupside_2027q2_stockpile_revenue
/operating_model/cells/upside_2027q2_stockpile_revenue:upside/kindNoneassumption
/operating_model/cells/upside_2027q2_stockpile_revenue:upside/labelNoneAccepted incremental stockpile deliveries
/operating_model/cells/upside_2027q2_stockpile_revenue:upside/periodNone2027Q2
/operating_model/cells/upside_2027q2_stockpile_revenue:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q2_stockpile_revenue:upside/valueNone15.0
/operating_model/cells/upside_2027q2_strategic_cash:upside/basisNonePrepaid input consumption cash credits avoid charging both historical prepayment and subsequent COGS cash without adjustment.
/operating_model/cells/upside_2027q2_strategic_cash:upside/caseNoneupside
/operating_model/cells/upside_2027q2_strategic_cash:upside/formula/opNonesum
/operating_model/cells/upside_2027q2_strategic_cash:upside/formula/refs/0Noneupside_2027q2_blue_moon
/operating_model/cells/upside_2027q2_strategic_cash:upside/formula/refs/1Noneupside_2027q2_raw_prepay
/operating_model/cells/upside_2027q2_strategic_cash:upside/formula/refs/2Noneupside_2027q2_german_price
/operating_model/cells/upside_2027q2_strategic_cash:upside/idNoneupside_2027q2_strategic_cash
/operating_model/cells/upside_2027q2_strategic_cash:upside/kindNonederived
/operating_model/cells/upside_2027q2_strategic_cash:upside/labelNoneMinority prepayment and acquisition cash
/operating_model/cells/upside_2027q2_strategic_cash:upside/periodNone2027Q2
/operating_model/cells/upside_2027q2_strategic_cash:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q2_strategic_cash:upside/valueNone25.0
/operating_model/cells/upside_2027q3_blue_moon:upside/basisNoneNo consolidated Blue Moon sales or market-value gains.
/operating_model/cells/upside_2027q3_blue_moon:upside/caseNoneupside
/operating_model/cells/upside_2027q3_blue_moon:upside/formula/opNonemultiply
/operating_model/cells/upside_2027q3_blue_moon:upside/formula/refs/0Noneupside_2027q3_cad_commitment
/operating_model/cells/upside_2027q3_blue_moon:upside/formula/refs/1Noneupside_2027q3_cad_usd
/operating_model/cells/upside_2027q3_blue_moon:upside/idNoneupside_2027q3_blue_moon
/operating_model/cells/upside_2027q3_blue_moon:upside/kindNonederived
/operating_model/cells/upside_2027q3_blue_moon:upside/labelNoneBlue Moon minority investment cash
/operating_model/cells/upside_2027q3_blue_moon:upside/periodNone2027Q3
/operating_model/cells/upside_2027q3_blue_moon:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q3_blue_moon:upside/valueNone0.0
/operating_model/cells/upside_2027q3_business_investment:upside/basisNoneNo initial government receipt netted into capex.
/operating_model/cells/upside_2027q3_business_investment:upside/caseNoneupside
/operating_model/cells/upside_2027q3_business_investment:upside/formula/opNonesum
/operating_model/cells/upside_2027q3_business_investment:upside/formula/refs/0Noneupside_2027q3_capex
/operating_model/cells/upside_2027q3_business_investment:upside/formula/refs/1Noneupside_2027q3_strategic_cash
/operating_model/cells/upside_2027q3_business_investment:upside/idNoneupside_2027q3_business_investment
/operating_model/cells/upside_2027q3_business_investment:upside/kindNonederived
/operating_model/cells/upside_2027q3_business_investment:upside/labelNonePP&E and strategic deployment
/operating_model/cells/upside_2027q3_business_investment:upside/periodNone2027Q3
/operating_model/cells/upside_2027q3_business_investment:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q3_business_investment:upside/valueNone58.0
/operating_model/cells/upside_2027q3_cad_commitment:upside/basisNoneBinding 3.5M-unit commitment at CAD10, within 45 days of September 14; expected in Q4 fiscal 2026.
/operating_model/cells/upside_2027q3_cad_commitment:upside/caseNoneupside
/operating_model/cells/upside_2027q3_cad_commitment:upside/idNoneupside_2027q3_cad_commitment
/operating_model/cells/upside_2027q3_cad_commitment:upside/kindNoneassumption
/operating_model/cells/upside_2027q3_cad_commitment:upside/labelNoneCAD35M investment at 1:1 before FX
/operating_model/cells/upside_2027q3_cad_commitment:upside/periodNone2027Q3
/operating_model/cells/upside_2027q3_cad_commitment:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q3_cad_commitment:upside/valueNone0.0
/operating_model/cells/upside_2027q3_cad_usd:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q3_cad_usd:upside/caseNoneupside
/operating_model/cells/upside_2027q3_cad_usd:upside/idNoneupside_2027q3_cad_usd
/operating_model/cells/upside_2027q3_cad_usd:upside/kindNoneassumption
/operating_model/cells/upside_2027q3_cad_usd:upside/labelNoneUSD per CAD assumption
/operating_model/cells/upside_2027q3_cad_usd:upside/periodNone2027Q3
/operating_model/cells/upside_2027q3_cad_usd:upside/unitNoneratio
/operating_model/cells/upside_2027q3_cad_usd:upside/valueNone0.73
/operating_model/cells/upside_2027q3_capex:upside/basisNoneConsolidated external investment includes domestic expansion and controlled JV plant; internal capital contributions are not counted again.
/operating_model/cells/upside_2027q3_capex:upside/caseNoneupside
/operating_model/cells/upside_2027q3_capex:upside/idNoneupside_2027q3_capex
/operating_model/cells/upside_2027q3_capex:upside/kindNoneassumption
/operating_model/cells/upside_2027q3_capex:upside/labelNoneExternal PP&E domestic and controlled-JV cash
/operating_model/cells/upside_2027q3_capex:upside/periodNone2027Q3
/operating_model/cells/upside_2027q3_capex:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q3_capex:upside/valueNone60.0
/operating_model/cells/upside_2027q3_cash_after_funding:upside/basisNonePeriod flow only; no claim that preferred cash is freely distributable.
/operating_model/cells/upside_2027q3_cash_after_funding:upside/caseNoneupside
/operating_model/cells/upside_2027q3_cash_after_funding:upside/formula/opNonesum
/operating_model/cells/upside_2027q3_cash_after_funding:upside/formula/refs/0Noneupside_2027q3_cash_after_investing
/operating_model/cells/upside_2027q3_cash_after_funding:upside/formula/refs/1Noneupside_2027q3_preferred_funding
/operating_model/cells/upside_2027q3_cash_after_funding:upside/idNoneupside_2027q3_cash_after_funding
/operating_model/cells/upside_2027q3_cash_after_funding:upside/kindNonederived
/operating_model/cells/upside_2027q3_cash_after_funding:upside/labelNoneCash after preferred financing
/operating_model/cells/upside_2027q3_cash_after_funding:upside/periodNone2027Q3
/operating_model/cells/upside_2027q3_cash_after_funding:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q3_cash_after_funding:upside/valueNone-23.944008499999995
/operating_model/cells/upside_2027q3_cash_after_investing:upside/basisNoneBefore preferred funding and other capital allocation.
/operating_model/cells/upside_2027q3_cash_after_investing:upside/caseNoneupside
/operating_model/cells/upside_2027q3_cash_after_investing:upside/formula/opNonesubtract
/operating_model/cells/upside_2027q3_cash_after_investing:upside/formula/refs/0Noneupside_2027q3_cfo
/operating_model/cells/upside_2027q3_cash_after_investing:upside/formula/refs/1Noneupside_2027q3_business_investment
/operating_model/cells/upside_2027q3_cash_after_investing:upside/idNoneupside_2027q3_cash_after_investing
/operating_model/cells/upside_2027q3_cash_after_investing:upside/kindNonederived
/operating_model/cells/upside_2027q3_cash_after_investing:upside/labelNoneCash after business investing
/operating_model/cells/upside_2027q3_cash_after_investing:upside/periodNone2027Q3
/operating_model/cells/upside_2027q3_cash_after_investing:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q3_cash_after_investing:upside/valueNone-73.9440085
/operating_model/cells/upside_2027q3_cash_bonus:upside/basisNoneMaximum September award shown as a Q2 2027 cash/expense sensitivity, conditional on employment and measurement criteria; not SBC.
/operating_model/cells/upside_2027q3_cash_bonus:upside/caseNoneupside
/operating_model/cells/upside_2027q3_cash_bonus:upside/idNoneupside_2027q3_cash_bonus
/operating_model/cells/upside_2027q3_cash_bonus:upside/kindNoneassumption
/operating_model/cells/upside_2027q3_cash_bonus:upside/labelNonePerformance cash-bonus allowance
/operating_model/cells/upside_2027q3_cash_bonus:upside/periodNone2027Q3
/operating_model/cells/upside_2027q3_cash_bonus:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q3_cash_bonus:upside/valueNone0.0
/operating_model/cells/upside_2027q3_cash_interest:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q3_cash_interest:upside/caseNoneupside
/operating_model/cells/upside_2027q3_cash_interest:upside/idNoneupside_2027q3_cash_interest
/operating_model/cells/upside_2027q3_cash_interest:upside/kindNoneassumption
/operating_model/cells/upside_2027q3_cash_interest:upside/labelNoneCash debt interest
/operating_model/cells/upside_2027q3_cash_interest:upside/periodNone2027Q3
/operating_model/cells/upside_2027q3_cash_interest:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q3_cash_interest:upside/valueNone0.2
/operating_model/cells/upside_2027q3_cash_interest_income:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q3_cash_interest_income:upside/caseNoneupside
/operating_model/cells/upside_2027q3_cash_interest_income:upside/idNoneupside_2027q3_cash_interest_income
/operating_model/cells/upside_2027q3_cash_interest_income:upside/kindNoneassumption
/operating_model/cells/upside_2027q3_cash_interest_income:upside/labelNoneCash interest income
/operating_model/cells/upside_2027q3_cash_interest_income:upside/periodNone2027Q3
/operating_model/cells/upside_2027q3_cash_interest_income:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q3_cash_interest_income:upside/valueNone2.0
/operating_model/cells/upside_2027q3_cash_opex:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q3_cash_opex:upside/caseNoneupside
/operating_model/cells/upside_2027q3_cash_opex:upside/idNoneupside_2027q3_cash_opex
/operating_model/cells/upside_2027q3_cash_opex:upside/kindNoneassumption
/operating_model/cells/upside_2027q3_cash_opex:upside/labelNoneCash corporate R&D and selling expense
/operating_model/cells/upside_2027q3_cash_opex:upside/periodNone2027Q3
/operating_model/cells/upside_2027q3_cash_opex:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q3_cash_opex:upside/valueNone16.4
/operating_model/cells/upside_2027q3_cash_tax:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q3_cash_tax:upside/caseNoneupside
/operating_model/cells/upside_2027q3_cash_tax:upside/idNoneupside_2027q3_cash_tax
/operating_model/cells/upside_2027q3_cash_tax:upside/kindNoneassumption
/operating_model/cells/upside_2027q3_cash_tax:upside/labelNoneCash tax
/operating_model/cells/upside_2027q3_cash_tax:upside/periodNone2027Q3
/operating_model/cells/upside_2027q3_cash_tax:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q3_cash_tax:upside/valueNone4.0
/operating_model/cells/upside_2027q3_cash_uses:upside/basisNoneProject input prepayments are shown separately in strategic cash.
/operating_model/cells/upside_2027q3_cash_uses:upside/caseNoneupside
/operating_model/cells/upside_2027q3_cash_uses:upside/formula/opNonesum
/operating_model/cells/upside_2027q3_cash_uses:upside/formula/refs/0Noneupside_2027q3_cash_tax
/operating_model/cells/upside_2027q3_cash_uses:upside/formula/refs/1Noneupside_2027q3_cash_interest
/operating_model/cells/upside_2027q3_cash_uses:upside/formula/refs/2Noneupside_2027q3_inventory_other_cash
/operating_model/cells/upside_2027q3_cash_uses:upside/formula/refs/3Noneupside_2027q3_pass_inventory_cash
/operating_model/cells/upside_2027q3_cash_uses:upside/idNoneupside_2027q3_cash_uses
/operating_model/cells/upside_2027q3_cash_uses:upside/kindNonederived
/operating_model/cells/upside_2027q3_cash_uses:upside/labelNoneTax interest and working capital
/operating_model/cells/upside_2027q3_cash_uses:upside/periodNone2027Q3
/operating_model/cells/upside_2027q3_cash_uses:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q3_cash_uses:upside/valueNone32.7
/operating_model/cells/upside_2027q3_cfo:upside/basisNoneNo current-period preferred cash dividend.
/operating_model/cells/upside_2027q3_cfo:upside/caseNoneupside
/operating_model/cells/upside_2027q3_cfo:upside/formula/opNonesubtract
/operating_model/cells/upside_2027q3_cfo:upside/formula/refs/0Noneupside_2027q3_operating_cash_earnings
/operating_model/cells/upside_2027q3_cfo:upside/formula/refs/1Noneupside_2027q3_cash_uses
/operating_model/cells/upside_2027q3_cfo:upside/idNoneupside_2027q3_cfo
/operating_model/cells/upside_2027q3_cfo:upside/kindNonederived
/operating_model/cells/upside_2027q3_cfo:upside/labelNoneOperating cash flow proxy
/operating_model/cells/upside_2027q3_cfo:upside/periodNone2027Q3
/operating_model/cells/upside_2027q3_cfo:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q3_cfo:upside/valueNone-15.944008500000002
/operating_model/cells/upside_2027q3_core_margin:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q3_core_margin:upside/caseNoneupside
/operating_model/cells/upside_2027q3_core_margin:upside/idNoneupside_2027q3_core_margin
/operating_model/cells/upside_2027q3_core_margin:upside/kindNoneassumption
/operating_model/cells/upside_2027q3_core_margin:upside/labelNoneCore gross margin
/operating_model/cells/upside_2027q3_core_margin:upside/periodNone2027Q3
/operating_model/cells/upside_2027q3_core_margin:upside/unitNoneratio
/operating_model/cells/upside_2027q3_core_margin:upside/valueNone0.27
/operating_model/cells/upside_2027q3_core_revenue:upside/basisNoneCurrent manufacturing and conditional acquired operations; stockpile is separate.
/operating_model/cells/upside_2027q3_core_revenue:upside/caseNoneupside
/operating_model/cells/upside_2027q3_core_revenue:upside/formula/opNonesum
/operating_model/cells/upside_2027q3_core_revenue:upside/formula/refs/0Noneupside_2027q3_legacy_demand
/operating_model/cells/upside_2027q3_core_revenue:upside/formula/refs/1Noneupside_2027q3_metal_pass
/operating_model/cells/upside_2027q3_core_revenue:upside/formula/refs/2Noneupside_2027q3_german_revenue
/operating_model/cells/upside_2027q3_core_revenue:upside/idNoneupside_2027q3_core_revenue
/operating_model/cells/upside_2027q3_core_revenue:upside/kindNonederived
/operating_model/cells/upside_2027q3_core_revenue:upside/labelNoneCore and acquired revenue
/operating_model/cells/upside_2027q3_core_revenue:upside/periodNone2027Q3
/operating_model/cells/upside_2027q3_core_revenue:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q3_core_revenue:upside/valueNone111.28144999999999
/operating_model/cells/upside_2027q3_da:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q3_da:upside/caseNoneupside
/operating_model/cells/upside_2027q3_da:upside/idNoneupside_2027q3_da
/operating_model/cells/upside_2027q3_da:upside/kindNoneassumption
/operating_model/cells/upside_2027q3_da:upside/labelNoneOperating D&A
/operating_model/cells/upside_2027q3_da:upside/periodNone2027Q3
/operating_model/cells/upside_2027q3_da:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q3_da:upside/valueNone4.0
/operating_model/cells/upside_2027q3_demand_index:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q3_demand_index:upside/caseNoneupside
/operating_model/cells/upside_2027q3_demand_index:upside/idNoneupside_2027q3_demand_index
/operating_model/cells/upside_2027q3_demand_index:upside/kindNoneassumption
/operating_model/cells/upside_2027q3_demand_index:upside/labelNoneNet volume and mix versus Q2
/operating_model/cells/upside_2027q3_demand_index:upside/periodNone2027Q3
/operating_model/cells/upside_2027q3_demand_index:upside/unitNoneratio
/operating_model/cells/upside_2027q3_demand_index:upside/valueNone1.45
/operating_model/cells/upside_2027q3_eur_usd:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q3_eur_usd:upside/caseNoneupside
/operating_model/cells/upside_2027q3_eur_usd:upside/idNoneupside_2027q3_eur_usd
/operating_model/cells/upside_2027q3_eur_usd:upside/kindNoneassumption
/operating_model/cells/upside_2027q3_eur_usd:upside/labelNoneUSD per EUR conversion
/operating_model/cells/upside_2027q3_eur_usd:upside/periodNone2027Q3
/operating_model/cells/upside_2027q3_eur_usd:upside/unitNoneratio
/operating_model/cells/upside_2027q3_eur_usd:upside/valueNone1.08
/operating_model/cells/upside_2027q3_funding_weight:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q3_funding_weight:upside/caseNoneupside
/operating_model/cells/upside_2027q3_funding_weight:upside/idNoneupside_2027q3_funding_weight
/operating_model/cells/upside_2027q3_funding_weight:upside/kindNoneassumption
/operating_model/cells/upside_2027q3_funding_weight:upside/labelNoneNew funding quarter weight
/operating_model/cells/upside_2027q3_funding_weight:upside/periodNone2027Q3
/operating_model/cells/upside_2027q3_funding_weight:upside/unitNoneratio
/operating_model/cells/upside_2027q3_funding_weight:upside/valueNone0.25
/operating_model/cells/upside_2027q3_german_eur_amount:upside/basisNoneDesk working capital and net pension assumptions in contractual price formula; signed amount can be negative.
/operating_model/cells/upside_2027q3_german_eur_amount:upside/caseNoneupside
/operating_model/cells/upside_2027q3_german_eur_amount:upside/idNoneupside_2027q3_german_eur_amount
/operating_model/cells/upside_2027q3_german_eur_amount:upside/kindNoneassumption
/operating_model/cells/upside_2027q3_german_eur_amount:upside/labelNoneGerman net price sensitivity, EUR millions represented at 1:1 before FX
/operating_model/cells/upside_2027q3_german_eur_amount:upside/periodNone2027Q3
/operating_model/cells/upside_2027q3_german_eur_amount:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q3_german_eur_amount:upside/valueNone0.0
/operating_model/cells/upside_2027q3_german_gross:upside/basisNoneUnverified post-close margin.
/operating_model/cells/upside_2027q3_german_gross:upside/caseNoneupside
/operating_model/cells/upside_2027q3_german_gross:upside/formula/opNonemultiply
/operating_model/cells/upside_2027q3_german_gross:upside/formula/refs/0Noneupside_2027q3_german_revenue
/operating_model/cells/upside_2027q3_german_gross:upside/formula/refs/1Noneupside_2027q3_german_margin
/operating_model/cells/upside_2027q3_german_gross:upside/idNoneupside_2027q3_german_gross
/operating_model/cells/upside_2027q3_german_gross:upside/kindNonederived
/operating_model/cells/upside_2027q3_german_gross:upside/labelNoneGerman gross contribution
/operating_model/cells/upside_2027q3_german_gross:upside/periodNone2027Q3
/operating_model/cells/upside_2027q3_german_gross:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q3_german_gross:upside/valueNone2.16
/operating_model/cells/upside_2027q3_german_margin:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q3_german_margin:upside/caseNoneupside
/operating_model/cells/upside_2027q3_german_margin:upside/idNoneupside_2027q3_german_margin
/operating_model/cells/upside_2027q3_german_margin:upside/kindNoneassumption
/operating_model/cells/upside_2027q3_german_margin:upside/labelNoneAcquired gross margin
/operating_model/cells/upside_2027q3_german_margin:upside/periodNone2027Q3
/operating_model/cells/upside_2027q3_german_margin:upside/unitNoneratio
/operating_model/cells/upside_2027q3_german_margin:upside/valueNone0.18
/operating_model/cells/upside_2027q3_german_price:upside/basisNoneScenario only; metal inventory and pension measurement can materially change final consideration.
/operating_model/cells/upside_2027q3_german_price:upside/caseNoneupside
/operating_model/cells/upside_2027q3_german_price:upside/formula/opNonemultiply
/operating_model/cells/upside_2027q3_german_price:upside/formula/refs/0Noneupside_2027q3_german_eur_amount
/operating_model/cells/upside_2027q3_german_price:upside/formula/refs/1Noneupside_2027q3_eur_usd
/operating_model/cells/upside_2027q3_german_price:upside/idNoneupside_2027q3_german_price
/operating_model/cells/upside_2027q3_german_price:upside/kindNonederived
/operating_model/cells/upside_2027q3_german_price:upside/labelNoneConditional German closing cash in USD
/operating_model/cells/upside_2027q3_german_price:upside/periodNone2027Q3
/operating_model/cells/upside_2027q3_german_price:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q3_german_price:upside/valueNone0.0
/operating_model/cells/upside_2027q3_german_revenue:upside/basisNoneDesk acquired-period contribution only after assumed closing; transaction remains conditional.
/operating_model/cells/upside_2027q3_german_revenue:upside/caseNoneupside
/operating_model/cells/upside_2027q3_german_revenue:upside/idNoneupside_2027q3_german_revenue
/operating_model/cells/upside_2027q3_german_revenue:upside/kindNoneassumption
/operating_model/cells/upside_2027q3_german_revenue:upside/labelNoneConditional acquired German revenue
/operating_model/cells/upside_2027q3_german_revenue:upside/periodNone2027Q3
/operating_model/cells/upside_2027q3_german_revenue:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q3_german_revenue:upside/valueNone12.0
/operating_model/cells/upside_2027q3_gross_profit:upside/basisNoneCompany forecasts are not supplied for the new program.
/operating_model/cells/upside_2027q3_gross_profit:upside/caseNoneupside
/operating_model/cells/upside_2027q3_gross_profit:upside/formula/opNonesum
/operating_model/cells/upside_2027q3_gross_profit:upside/formula/refs/0Noneupside_2027q3_legacy_gross
/operating_model/cells/upside_2027q3_gross_profit:upside/formula/refs/1Noneupside_2027q3_price_gross
/operating_model/cells/upside_2027q3_gross_profit:upside/formula/refs/2Noneupside_2027q3_german_gross
/operating_model/cells/upside_2027q3_gross_profit:upside/formula/refs/3Noneupside_2027q3_stockpile_gross
/operating_model/cells/upside_2027q3_gross_profit:upside/idNoneupside_2027q3_gross_profit
/operating_model/cells/upside_2027q3_gross_profit:upside/kindNonederived
/operating_model/cells/upside_2027q3_gross_profit:upside/labelNoneGross profit proxy
/operating_model/cells/upside_2027q3_gross_profit:upside/periodNone2027Q3
/operating_model/cells/upside_2027q3_gross_profit:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q3_gross_profit:upside/valueNone31.1559915
/operating_model/cells/upside_2027q3_inventory_other_cash:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q3_inventory_other_cash:upside/caseNoneupside
/operating_model/cells/upside_2027q3_inventory_other_cash:upside/idNoneupside_2027q3_inventory_other_cash
/operating_model/cells/upside_2027q3_inventory_other_cash:upside/kindNoneassumption
/operating_model/cells/upside_2027q3_inventory_other_cash:upside/labelNoneInventory and other working-capital use
/operating_model/cells/upside_2027q3_inventory_other_cash:upside/periodNone2027Q3
/operating_model/cells/upside_2027q3_inventory_other_cash:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q3_inventory_other_cash:upside/valueNone27.0
/operating_model/cells/upside_2027q3_inventory_price_fraction:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q3_inventory_price_fraction:upside/caseNoneupside
/operating_model/cells/upside_2027q3_inventory_price_fraction:upside/idNoneupside_2027q3_inventory_price_fraction
/operating_model/cells/upside_2027q3_inventory_price_fraction:upside/kindNoneassumption
/operating_model/cells/upside_2027q3_inventory_price_fraction:upside/labelNonePrice-related inventory funding share
/operating_model/cells/upside_2027q3_inventory_price_fraction:upside/periodNone2027Q3
/operating_model/cells/upside_2027q3_inventory_price_fraction:upside/unitNoneratio
/operating_model/cells/upside_2027q3_inventory_price_fraction:upside/valueNone0.5
/operating_model/cells/upside_2027q3_legacy_demand:upside/basisNoneDemand separated from incremental metal-price pass-through.
/operating_model/cells/upside_2027q3_legacy_demand:upside/caseNoneupside
/operating_model/cells/upside_2027q3_legacy_demand:upside/formula/opNonemultiply
/operating_model/cells/upside_2027q3_legacy_demand:upside/formula/refs/0Noneq2_revenue
/operating_model/cells/upside_2027q3_legacy_demand:upside/formula/refs/1Noneupside_2027q3_demand_index
/operating_model/cells/upside_2027q3_legacy_demand:upside/idNoneupside_2027q3_legacy_demand
/operating_model/cells/upside_2027q3_legacy_demand:upside/kindNonederived
/operating_model/cells/upside_2027q3_legacy_demand:upside/labelNoneLegacy revenue at reference metal prices
/operating_model/cells/upside_2027q3_legacy_demand:upside/periodNone2027Q3
/operating_model/cells/upside_2027q3_legacy_demand:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q3_legacy_demand:upside/valueNone96.28144999999999
/operating_model/cells/upside_2027q3_legacy_gross:upside/basisNoneIndependent operating-margin scenario.
/operating_model/cells/upside_2027q3_legacy_gross:upside/caseNoneupside
/operating_model/cells/upside_2027q3_legacy_gross:upside/formula/opNonemultiply
/operating_model/cells/upside_2027q3_legacy_gross:upside/formula/refs/0Noneupside_2027q3_legacy_demand
/operating_model/cells/upside_2027q3_legacy_gross:upside/formula/refs/1Noneupside_2027q3_core_margin
/operating_model/cells/upside_2027q3_legacy_gross:upside/idNoneupside_2027q3_legacy_gross
/operating_model/cells/upside_2027q3_legacy_gross:upside/kindNonederived
/operating_model/cells/upside_2027q3_legacy_gross:upside/labelNoneLegacy gross profit
/operating_model/cells/upside_2027q3_legacy_gross:upside/periodNone2027Q3
/operating_model/cells/upside_2027q3_legacy_gross:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q3_legacy_gross:upside/valueNone25.9959915
/operating_model/cells/upside_2027q3_metal_cost:upside/basisNoneAt 100% pass-through, higher commodity prices do not create gross profit.
/operating_model/cells/upside_2027q3_metal_cost:upside/caseNoneupside
/operating_model/cells/upside_2027q3_metal_cost:upside/formula/opNonemultiply
/operating_model/cells/upside_2027q3_metal_cost:upside/formula/refs/0Noneupside_2027q3_metal_pass
/operating_model/cells/upside_2027q3_metal_cost:upside/formula/refs/1Noneupside_2027q3_pass_cost_ratio
/operating_model/cells/upside_2027q3_metal_cost:upside/idNoneupside_2027q3_metal_cost
/operating_model/cells/upside_2027q3_metal_cost:upside/kindNonederived
/operating_model/cells/upside_2027q3_metal_cost:upside/labelNoneMatched input price cost
/operating_model/cells/upside_2027q3_metal_cost:upside/periodNone2027Q3
/operating_model/cells/upside_2027q3_metal_cost:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q3_metal_cost:upside/valueNone3.0
/operating_model/cells/upside_2027q3_metal_pass:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q3_metal_pass:upside/caseNoneupside
/operating_model/cells/upside_2027q3_metal_pass:upside/idNoneupside_2027q3_metal_pass
/operating_model/cells/upside_2027q3_metal_pass:upside/kindNoneassumption
/operating_model/cells/upside_2027q3_metal_pass:upside/labelNoneIncremental raw-material price pass-through
/operating_model/cells/upside_2027q3_metal_pass:upside/periodNone2027Q3
/operating_model/cells/upside_2027q3_metal_pass:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q3_metal_pass:upside/valueNone3.0
/operating_model/cells/upside_2027q3_new_pik_basis:upside/basisNoneInitial 19-day approximate accrual; later tranches assumed late-quarter.
/operating_model/cells/upside_2027q3_new_pik_basis:upside/caseNoneupside
/operating_model/cells/upside_2027q3_new_pik_basis:upside/formula/opNonemultiply
/operating_model/cells/upside_2027q3_new_pik_basis:upside/formula/refs/0Noneupside_2027q3_preferred_funding
/operating_model/cells/upside_2027q3_new_pik_basis:upside/formula/refs/1Noneupside_2027q3_funding_weight
/operating_model/cells/upside_2027q3_new_pik_basis:upside/idNoneupside_2027q3_new_pik_basis
/operating_model/cells/upside_2027q3_new_pik_basis:upside/kindNonederived
/operating_model/cells/upside_2027q3_new_pik_basis:upside/labelNoneNew funding weighted for partial quarter
/operating_model/cells/upside_2027q3_new_pik_basis:upside/periodNone2027Q3
/operating_model/cells/upside_2027q3_new_pik_basis:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q3_new_pik_basis:upside/valueNone12.5
/operating_model/cells/upside_2027q3_operating_cash_earnings:upside/basisNoneNo debt forgiveness or financing gain.
/operating_model/cells/upside_2027q3_operating_cash_earnings:upside/caseNoneupside
/operating_model/cells/upside_2027q3_operating_cash_earnings:upside/formula/opNonesum
/operating_model/cells/upside_2027q3_operating_cash_earnings:upside/formula/refs/0Noneupside_2027q3_operating_income
/operating_model/cells/upside_2027q3_operating_cash_earnings:upside/formula/refs/1Noneupside_2027q3_sbc
/operating_model/cells/upside_2027q3_operating_cash_earnings:upside/formula/refs/2Noneupside_2027q3_da
/operating_model/cells/upside_2027q3_operating_cash_earnings:upside/formula/refs/3Noneupside_2027q3_cash_interest_income
/operating_model/cells/upside_2027q3_operating_cash_earnings:upside/idNoneupside_2027q3_operating_cash_earnings
/operating_model/cells/upside_2027q3_operating_cash_earnings:upside/kindNonederived
/operating_model/cells/upside_2027q3_operating_cash_earnings:upside/labelNoneOperating earnings plus noncash and interest
/operating_model/cells/upside_2027q3_operating_cash_earnings:upside/periodNone2027Q3
/operating_model/cells/upside_2027q3_operating_cash_earnings:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q3_operating_cash_earnings:upside/valueNone16.7559915
/operating_model/cells/upside_2027q3_operating_income:upside/basisNonePreferred PIK is below operating economics, not operating expense.
/operating_model/cells/upside_2027q3_operating_income:upside/caseNoneupside
/operating_model/cells/upside_2027q3_operating_income:upside/formula/opNonesubtract
/operating_model/cells/upside_2027q3_operating_income:upside/formula/refs/0Noneupside_2027q3_gross_profit
/operating_model/cells/upside_2027q3_operating_income:upside/formula/refs/1Noneupside_2027q3_opex
/operating_model/cells/upside_2027q3_operating_income:upside/idNoneupside_2027q3_operating_income
/operating_model/cells/upside_2027q3_operating_income:upside/kindNonederived
/operating_model/cells/upside_2027q3_operating_income:upside/labelNoneOperating income proxy
/operating_model/cells/upside_2027q3_operating_income:upside/periodNone2027Q3
/operating_model/cells/upside_2027q3_operating_income:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q3_operating_income:upside/valueNone7.9559915
/operating_model/cells/upside_2027q3_opex:upside/basisNoneNo repeat of H1 IPO SBC as if recurring every quarter.
/operating_model/cells/upside_2027q3_opex:upside/caseNoneupside
/operating_model/cells/upside_2027q3_opex:upside/formula/opNonesum
/operating_model/cells/upside_2027q3_opex:upside/formula/refs/0Noneupside_2027q3_cash_opex
/operating_model/cells/upside_2027q3_opex:upside/formula/refs/1Noneupside_2027q3_sbc
/operating_model/cells/upside_2027q3_opex:upside/formula/refs/2Noneupside_2027q3_da
/operating_model/cells/upside_2027q3_opex:upside/formula/refs/3Noneupside_2027q3_cash_bonus
/operating_model/cells/upside_2027q3_opex:upside/idNoneupside_2027q3_opex
/operating_model/cells/upside_2027q3_opex:upside/kindNonederived
/operating_model/cells/upside_2027q3_opex:upside/labelNoneCash overhead SBC and D&A
/operating_model/cells/upside_2027q3_opex:upside/periodNone2027Q3
/operating_model/cells/upside_2027q3_opex:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q3_opex:upside/valueNone23.2
/operating_model/cells/upside_2027q3_pass_cost_ratio:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q3_pass_cost_ratio:upside/caseNoneupside
/operating_model/cells/upside_2027q3_pass_cost_ratio:upside/idNoneupside_2027q3_pass_cost_ratio
/operating_model/cells/upside_2027q3_pass_cost_ratio:upside/kindNoneassumption
/operating_model/cells/upside_2027q3_pass_cost_ratio:upside/labelNoneInput-cost share of pass-through
/operating_model/cells/upside_2027q3_pass_cost_ratio:upside/periodNone2027Q3
/operating_model/cells/upside_2027q3_pass_cost_ratio:upside/unitNoneratio
/operating_model/cells/upside_2027q3_pass_cost_ratio:upside/valueNone1.0
/operating_model/cells/upside_2027q3_pass_inventory_cash:upside/basisNoneCommodity inflation can tie up cash despite matched gross profit.
/operating_model/cells/upside_2027q3_pass_inventory_cash:upside/caseNoneupside
/operating_model/cells/upside_2027q3_pass_inventory_cash:upside/formula/opNonemultiply
/operating_model/cells/upside_2027q3_pass_inventory_cash:upside/formula/refs/0Noneupside_2027q3_metal_pass
/operating_model/cells/upside_2027q3_pass_inventory_cash:upside/formula/refs/1Noneupside_2027q3_inventory_price_fraction
/operating_model/cells/upside_2027q3_pass_inventory_cash:upside/idNoneupside_2027q3_pass_inventory_cash
/operating_model/cells/upside_2027q3_pass_inventory_cash:upside/kindNonederived
/operating_model/cells/upside_2027q3_pass_inventory_cash:upside/labelNoneAdditional price-related inventory funding
/operating_model/cells/upside_2027q3_pass_inventory_cash:upside/periodNone2027Q3
/operating_model/cells/upside_2027q3_pass_inventory_cash:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q3_pass_inventory_cash:upside/valueNone1.5
/operating_model/cells/upside_2027q3_pik_basis:upside/basisNoneExisting balance includes prior PIK compounding.
/operating_model/cells/upside_2027q3_pik_basis:upside/caseNoneupside
/operating_model/cells/upside_2027q3_pik_basis:upside/formula/opNonesum
/operating_model/cells/upside_2027q3_pik_basis:upside/formula/refs/0Noneupside_2027q2_preferred_ending
/operating_model/cells/upside_2027q3_pik_basis:upside/formula/refs/1Noneupside_2027q3_new_pik_basis
/operating_model/cells/upside_2027q3_pik_basis:upside/idNoneupside_2027q3_pik_basis
/operating_model/cells/upside_2027q3_pik_basis:upside/kindNonederived
/operating_model/cells/upside_2027q3_pik_basis:upside/labelNoneWeighted preferred claim for PIK
/operating_model/cells/upside_2027q3_pik_basis:upside/periodNone2027Q3
/operating_model/cells/upside_2027q3_pik_basis:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q3_pik_basis:upside/valueNone272.3238834380312
/operating_model/cells/upside_2027q3_preferred_ending:upside/basisNoneStock balance, not an annual flow; ignores warrant-linked liquidation preference reductions.
/operating_model/cells/upside_2027q3_preferred_ending:upside/caseNoneupside
/operating_model/cells/upside_2027q3_preferred_ending:upside/formula/opNonesum
/operating_model/cells/upside_2027q3_preferred_ending:upside/formula/refs/0Noneupside_2027q2_preferred_ending
/operating_model/cells/upside_2027q3_preferred_ending:upside/formula/refs/1Noneupside_2027q3_preferred_funding
/operating_model/cells/upside_2027q3_preferred_ending:upside/formula/refs/2Noneupside_2027q3_preferred_pik
/operating_model/cells/upside_2027q3_preferred_ending:upside/idNoneupside_2027q3_preferred_ending
/operating_model/cells/upside_2027q3_preferred_ending:upside/kindNonederived
/operating_model/cells/upside_2027q3_preferred_ending:upside/labelNoneEnding preferred claim before warrant adjustments
/operating_model/cells/upside_2027q3_preferred_ending:upside/periodNone2027Q3
/operating_model/cells/upside_2027q3_preferred_ending:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q3_preferred_ending:upside/valueNone313.56833683530414
/operating_model/cells/upside_2027q3_preferred_funding:upside/basisNoneInitial $200M received September 14; any later $50M receipt is conditional and respects six-month tranche availability.
/operating_model/cells/upside_2027q3_preferred_funding:upside/caseNoneupside
/operating_model/cells/upside_2027q3_preferred_funding:upside/idNoneupside_2027q3_preferred_funding
/operating_model/cells/upside_2027q3_preferred_funding:upside/kindNoneassumption
/operating_model/cells/upside_2027q3_preferred_funding:upside/labelNonePreferred financing receipts
/operating_model/cells/upside_2027q3_preferred_funding:upside/periodNone2027Q3
/operating_model/cells/upside_2027q3_preferred_funding:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q3_preferred_funding:upside/valueNone50.0
/operating_model/cells/upside_2027q3_preferred_pik:upside/basisNoneNoncash senior claim; no deduction from current-period cash.
/operating_model/cells/upside_2027q3_preferred_pik:upside/caseNoneupside
/operating_model/cells/upside_2027q3_preferred_pik:upside/formula/opNonemultiply
/operating_model/cells/upside_2027q3_preferred_pik:upside/formula/refs/0Noneupside_2027q3_pik_basis
/operating_model/cells/upside_2027q3_preferred_pik:upside/formula/refs/1Nonepreferred_rate
/operating_model/cells/upside_2027q3_preferred_pik:upside/formula/refs/2Noneupside_2027q3_quarter_year
/operating_model/cells/upside_2027q3_preferred_pik:upside/idNoneupside_2027q3_preferred_pik
/operating_model/cells/upside_2027q3_preferred_pik:upside/kindNonederived
/operating_model/cells/upside_2027q3_preferred_pik:upside/labelNonePreferred economic PIK accrual
/operating_model/cells/upside_2027q3_preferred_pik:upside/periodNone2027Q3
/operating_model/cells/upside_2027q3_preferred_pik:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q3_preferred_pik:upside/valueNone3.7444533972729293
/operating_model/cells/upside_2027q3_price_gross:upside/basisNoneMismatch sensitivity is explicit.
/operating_model/cells/upside_2027q3_price_gross:upside/caseNoneupside
/operating_model/cells/upside_2027q3_price_gross:upside/formula/opNonesubtract
/operating_model/cells/upside_2027q3_price_gross:upside/formula/refs/0Noneupside_2027q3_metal_pass
/operating_model/cells/upside_2027q3_price_gross:upside/formula/refs/1Noneupside_2027q3_metal_cost
/operating_model/cells/upside_2027q3_price_gross:upside/idNoneupside_2027q3_price_gross
/operating_model/cells/upside_2027q3_price_gross:upside/kindNonederived
/operating_model/cells/upside_2027q3_price_gross:upside/labelNoneIncremental price pass-through gross profit
/operating_model/cells/upside_2027q3_price_gross:upside/periodNone2027Q3
/operating_model/cells/upside_2027q3_price_gross:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q3_price_gross:upside/valueNone0.0
/operating_model/cells/upside_2027q3_quarter_year:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q3_quarter_year:upside/caseNoneupside
/operating_model/cells/upside_2027q3_quarter_year:upside/idNoneupside_2027q3_quarter_year
/operating_model/cells/upside_2027q3_quarter_year:upside/kindNoneassumption
/operating_model/cells/upside_2027q3_quarter_year:upside/labelNoneQuarter-year fraction
/operating_model/cells/upside_2027q3_quarter_year:upside/periodNone2027Q3
/operating_model/cells/upside_2027q3_quarter_year:upside/unitNoneratio
/operating_model/cells/upside_2027q3_quarter_year:upside/valueNone0.25
/operating_model/cells/upside_2027q3_raw_prepay:upside/basisNoneDesk first and milestone-conditioned second $25M funding; later negative amounts are consumption/settlement credits, not new revenue.
/operating_model/cells/upside_2027q3_raw_prepay:upside/caseNoneupside
/operating_model/cells/upside_2027q3_raw_prepay:upside/idNoneupside_2027q3_raw_prepay
/operating_model/cells/upside_2027q3_raw_prepay:upside/kindNoneassumption
/operating_model/cells/upside_2027q3_raw_prepay:upside/labelNoneNet new raw-material prepayments
/operating_model/cells/upside_2027q3_raw_prepay:upside/periodNone2027Q3
/operating_model/cells/upside_2027q3_raw_prepay:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q3_raw_prepay:upside/valueNone-2.0
/operating_model/cells/upside_2027q3_revenue:upside/basisNoneNo recognition of preferred funding as revenue.
/operating_model/cells/upside_2027q3_revenue:upside/caseNoneupside
/operating_model/cells/upside_2027q3_revenue:upside/formula/opNonesum
/operating_model/cells/upside_2027q3_revenue:upside/formula/refs/0Noneupside_2027q3_core_revenue
/operating_model/cells/upside_2027q3_revenue:upside/formula/refs/1Noneupside_2027q3_stockpile_revenue
/operating_model/cells/upside_2027q3_revenue:upside/idNoneupside_2027q3_revenue
/operating_model/cells/upside_2027q3_revenue:upside/kindNonederived
/operating_model/cells/upside_2027q3_revenue:upside/labelNoneTotal revenue
/operating_model/cells/upside_2027q3_revenue:upside/periodNone2027Q3
/operating_model/cells/upside_2027q3_revenue:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q3_revenue:upside/valueNone136.28145
/operating_model/cells/upside_2027q3_sbc:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q3_sbc:upside/caseNoneupside
/operating_model/cells/upside_2027q3_sbc:upside/idNoneupside_2027q3_sbc
/operating_model/cells/upside_2027q3_sbc:upside/kindNoneassumption
/operating_model/cells/upside_2027q3_sbc:upside/labelNoneSBC
/operating_model/cells/upside_2027q3_sbc:upside/periodNone2027Q3
/operating_model/cells/upside_2027q3_sbc:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q3_sbc:upside/valueNone2.8
/operating_model/cells/upside_2027q3_stock_margin:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q3_stock_margin:upside/caseNoneupside
/operating_model/cells/upside_2027q3_stock_margin:upside/idNoneupside_2027q3_stock_margin
/operating_model/cells/upside_2027q3_stock_margin:upside/kindNoneassumption
/operating_model/cells/upside_2027q3_stock_margin:upside/labelNoneStockpile gross margin
/operating_model/cells/upside_2027q3_stock_margin:upside/periodNone2027Q3
/operating_model/cells/upside_2027q3_stock_margin:upside/unitNoneratio
/operating_model/cells/upside_2027q3_stock_margin:upside/valueNone0.12
/operating_model/cells/upside_2027q3_stockpile_gross:upside/basisNoneProcured input cost is reflected in margin; no unsupported floor-price assumption.
/operating_model/cells/upside_2027q3_stockpile_gross:upside/caseNoneupside
/operating_model/cells/upside_2027q3_stockpile_gross:upside/formula/opNonemultiply
/operating_model/cells/upside_2027q3_stockpile_gross:upside/formula/refs/0Noneupside_2027q3_stockpile_revenue
/operating_model/cells/upside_2027q3_stockpile_gross:upside/formula/refs/1Noneupside_2027q3_stock_margin
/operating_model/cells/upside_2027q3_stockpile_gross:upside/idNoneupside_2027q3_stockpile_gross
/operating_model/cells/upside_2027q3_stockpile_gross:upside/kindNonederived
/operating_model/cells/upside_2027q3_stockpile_gross:upside/labelNoneStockpile gross contribution
/operating_model/cells/upside_2027q3_stockpile_gross:upside/periodNone2027Q3
/operating_model/cells/upside_2027q3_stockpile_gross:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q3_stockpile_gross:upside/valueNone3.0
/operating_model/cells/upside_2027q3_stockpile_revenue:upside/basisNoneSupply-qualified delivery assumption, not pro-rata recognition of the contract ceiling or minimum.
/operating_model/cells/upside_2027q3_stockpile_revenue:upside/caseNoneupside
/operating_model/cells/upside_2027q3_stockpile_revenue:upside/idNoneupside_2027q3_stockpile_revenue
/operating_model/cells/upside_2027q3_stockpile_revenue:upside/kindNoneassumption
/operating_model/cells/upside_2027q3_stockpile_revenue:upside/labelNoneAccepted incremental stockpile deliveries
/operating_model/cells/upside_2027q3_stockpile_revenue:upside/periodNone2027Q3
/operating_model/cells/upside_2027q3_stockpile_revenue:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q3_stockpile_revenue:upside/valueNone25.0
/operating_model/cells/upside_2027q3_strategic_cash:upside/basisNonePrepaid input consumption cash credits avoid charging both historical prepayment and subsequent COGS cash without adjustment.
/operating_model/cells/upside_2027q3_strategic_cash:upside/caseNoneupside
/operating_model/cells/upside_2027q3_strategic_cash:upside/formula/opNonesum
/operating_model/cells/upside_2027q3_strategic_cash:upside/formula/refs/0Noneupside_2027q3_blue_moon
/operating_model/cells/upside_2027q3_strategic_cash:upside/formula/refs/1Noneupside_2027q3_raw_prepay
/operating_model/cells/upside_2027q3_strategic_cash:upside/formula/refs/2Noneupside_2027q3_german_price
/operating_model/cells/upside_2027q3_strategic_cash:upside/idNoneupside_2027q3_strategic_cash
/operating_model/cells/upside_2027q3_strategic_cash:upside/kindNonederived
/operating_model/cells/upside_2027q3_strategic_cash:upside/labelNoneMinority prepayment and acquisition cash
/operating_model/cells/upside_2027q3_strategic_cash:upside/periodNone2027Q3
/operating_model/cells/upside_2027q3_strategic_cash:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q3_strategic_cash:upside/valueNone-2.0
/operating_model/cells/upside_2027q4_blue_moon:upside/basisNoneNo consolidated Blue Moon sales or market-value gains.
/operating_model/cells/upside_2027q4_blue_moon:upside/caseNoneupside
/operating_model/cells/upside_2027q4_blue_moon:upside/formula/opNonemultiply
/operating_model/cells/upside_2027q4_blue_moon:upside/formula/refs/0Noneupside_2027q4_cad_commitment
/operating_model/cells/upside_2027q4_blue_moon:upside/formula/refs/1Noneupside_2027q4_cad_usd
/operating_model/cells/upside_2027q4_blue_moon:upside/idNoneupside_2027q4_blue_moon
/operating_model/cells/upside_2027q4_blue_moon:upside/kindNonederived
/operating_model/cells/upside_2027q4_blue_moon:upside/labelNoneBlue Moon minority investment cash
/operating_model/cells/upside_2027q4_blue_moon:upside/periodNone2027Q4
/operating_model/cells/upside_2027q4_blue_moon:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q4_blue_moon:upside/valueNone0.0
/operating_model/cells/upside_2027q4_business_investment:upside/basisNoneNo initial government receipt netted into capex.
/operating_model/cells/upside_2027q4_business_investment:upside/caseNoneupside
/operating_model/cells/upside_2027q4_business_investment:upside/formula/opNonesum
/operating_model/cells/upside_2027q4_business_investment:upside/formula/refs/0Noneupside_2027q4_capex
/operating_model/cells/upside_2027q4_business_investment:upside/formula/refs/1Noneupside_2027q4_strategic_cash
/operating_model/cells/upside_2027q4_business_investment:upside/idNoneupside_2027q4_business_investment
/operating_model/cells/upside_2027q4_business_investment:upside/kindNonederived
/operating_model/cells/upside_2027q4_business_investment:upside/labelNonePP&E and strategic deployment
/operating_model/cells/upside_2027q4_business_investment:upside/periodNone2027Q4
/operating_model/cells/upside_2027q4_business_investment:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q4_business_investment:upside/valueNone63.0
/operating_model/cells/upside_2027q4_cad_commitment:upside/basisNoneBinding 3.5M-unit commitment at CAD10, within 45 days of September 14; expected in Q4 fiscal 2026.
/operating_model/cells/upside_2027q4_cad_commitment:upside/caseNoneupside
/operating_model/cells/upside_2027q4_cad_commitment:upside/idNoneupside_2027q4_cad_commitment
/operating_model/cells/upside_2027q4_cad_commitment:upside/kindNoneassumption
/operating_model/cells/upside_2027q4_cad_commitment:upside/labelNoneCAD35M investment at 1:1 before FX
/operating_model/cells/upside_2027q4_cad_commitment:upside/periodNone2027Q4
/operating_model/cells/upside_2027q4_cad_commitment:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q4_cad_commitment:upside/valueNone0.0
/operating_model/cells/upside_2027q4_cad_usd:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q4_cad_usd:upside/caseNoneupside
/operating_model/cells/upside_2027q4_cad_usd:upside/idNoneupside_2027q4_cad_usd
/operating_model/cells/upside_2027q4_cad_usd:upside/kindNoneassumption
/operating_model/cells/upside_2027q4_cad_usd:upside/labelNoneUSD per CAD assumption
/operating_model/cells/upside_2027q4_cad_usd:upside/periodNone2027Q4
/operating_model/cells/upside_2027q4_cad_usd:upside/unitNoneratio
/operating_model/cells/upside_2027q4_cad_usd:upside/valueNone0.73
/operating_model/cells/upside_2027q4_capex:upside/basisNoneConsolidated external investment includes domestic expansion and controlled JV plant; internal capital contributions are not counted again.
/operating_model/cells/upside_2027q4_capex:upside/caseNoneupside
/operating_model/cells/upside_2027q4_capex:upside/idNoneupside_2027q4_capex
/operating_model/cells/upside_2027q4_capex:upside/kindNoneassumption
/operating_model/cells/upside_2027q4_capex:upside/labelNoneExternal PP&E domestic and controlled-JV cash
/operating_model/cells/upside_2027q4_capex:upside/periodNone2027Q4
/operating_model/cells/upside_2027q4_capex:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q4_capex:upside/valueNone65.0
/operating_model/cells/upside_2027q4_cash_after_funding:upside/basisNonePeriod flow only; no claim that preferred cash is freely distributable.
/operating_model/cells/upside_2027q4_cash_after_funding:upside/caseNoneupside
/operating_model/cells/upside_2027q4_cash_after_funding:upside/formula/opNonesum
/operating_model/cells/upside_2027q4_cash_after_funding:upside/formula/refs/0Noneupside_2027q4_cash_after_investing
/operating_model/cells/upside_2027q4_cash_after_funding:upside/formula/refs/1Noneupside_2027q4_preferred_funding
/operating_model/cells/upside_2027q4_cash_after_funding:upside/idNoneupside_2027q4_cash_after_funding
/operating_model/cells/upside_2027q4_cash_after_funding:upside/kindNonederived
/operating_model/cells/upside_2027q4_cash_after_funding:upside/labelNoneCash after preferred financing
/operating_model/cells/upside_2027q4_cash_after_funding:upside/periodNone2027Q4
/operating_model/cells/upside_2027q4_cash_after_funding:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q4_cash_after_funding:upside/valueNone-79.5911815
/operating_model/cells/upside_2027q4_cash_after_investing:upside/basisNoneBefore preferred funding and other capital allocation.
/operating_model/cells/upside_2027q4_cash_after_investing:upside/caseNoneupside
/operating_model/cells/upside_2027q4_cash_after_investing:upside/formula/opNonesubtract
/operating_model/cells/upside_2027q4_cash_after_investing:upside/formula/refs/0Noneupside_2027q4_cfo
/operating_model/cells/upside_2027q4_cash_after_investing:upside/formula/refs/1Noneupside_2027q4_business_investment
/operating_model/cells/upside_2027q4_cash_after_investing:upside/idNoneupside_2027q4_cash_after_investing
/operating_model/cells/upside_2027q4_cash_after_investing:upside/kindNonederived
/operating_model/cells/upside_2027q4_cash_after_investing:upside/labelNoneCash after business investing
/operating_model/cells/upside_2027q4_cash_after_investing:upside/periodNone2027Q4
/operating_model/cells/upside_2027q4_cash_after_investing:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q4_cash_after_investing:upside/valueNone-79.5911815
/operating_model/cells/upside_2027q4_cash_bonus:upside/basisNoneMaximum September award shown as a Q2 2027 cash/expense sensitivity, conditional on employment and measurement criteria; not SBC.
/operating_model/cells/upside_2027q4_cash_bonus:upside/caseNoneupside
/operating_model/cells/upside_2027q4_cash_bonus:upside/idNoneupside_2027q4_cash_bonus
/operating_model/cells/upside_2027q4_cash_bonus:upside/kindNoneassumption
/operating_model/cells/upside_2027q4_cash_bonus:upside/labelNonePerformance cash-bonus allowance
/operating_model/cells/upside_2027q4_cash_bonus:upside/periodNone2027Q4
/operating_model/cells/upside_2027q4_cash_bonus:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q4_cash_bonus:upside/valueNone0.0
/operating_model/cells/upside_2027q4_cash_interest:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q4_cash_interest:upside/caseNoneupside
/operating_model/cells/upside_2027q4_cash_interest:upside/idNoneupside_2027q4_cash_interest
/operating_model/cells/upside_2027q4_cash_interest:upside/kindNoneassumption
/operating_model/cells/upside_2027q4_cash_interest:upside/labelNoneCash debt interest
/operating_model/cells/upside_2027q4_cash_interest:upside/periodNone2027Q4
/operating_model/cells/upside_2027q4_cash_interest:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q4_cash_interest:upside/valueNone0.2
/operating_model/cells/upside_2027q4_cash_interest_income:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q4_cash_interest_income:upside/caseNoneupside
/operating_model/cells/upside_2027q4_cash_interest_income:upside/idNoneupside_2027q4_cash_interest_income
/operating_model/cells/upside_2027q4_cash_interest_income:upside/kindNoneassumption
/operating_model/cells/upside_2027q4_cash_interest_income:upside/labelNoneCash interest income
/operating_model/cells/upside_2027q4_cash_interest_income:upside/periodNone2027Q4
/operating_model/cells/upside_2027q4_cash_interest_income:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q4_cash_interest_income:upside/valueNone2.0
/operating_model/cells/upside_2027q4_cash_opex:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q4_cash_opex:upside/caseNoneupside
/operating_model/cells/upside_2027q4_cash_opex:upside/idNoneupside_2027q4_cash_opex
/operating_model/cells/upside_2027q4_cash_opex:upside/kindNoneassumption
/operating_model/cells/upside_2027q4_cash_opex:upside/labelNoneCash corporate R&D and selling expense
/operating_model/cells/upside_2027q4_cash_opex:upside/periodNone2027Q4
/operating_model/cells/upside_2027q4_cash_opex:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q4_cash_opex:upside/valueNone17.5
/operating_model/cells/upside_2027q4_cash_tax:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q4_cash_tax:upside/caseNoneupside
/operating_model/cells/upside_2027q4_cash_tax:upside/idNoneupside_2027q4_cash_tax
/operating_model/cells/upside_2027q4_cash_tax:upside/kindNoneassumption
/operating_model/cells/upside_2027q4_cash_tax:upside/labelNoneCash tax
/operating_model/cells/upside_2027q4_cash_tax:upside/periodNone2027Q4
/operating_model/cells/upside_2027q4_cash_tax:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q4_cash_tax:upside/valueNone4.5
/operating_model/cells/upside_2027q4_cash_uses:upside/basisNoneProject input prepayments are shown separately in strategic cash.
/operating_model/cells/upside_2027q4_cash_uses:upside/caseNoneupside
/operating_model/cells/upside_2027q4_cash_uses:upside/formula/opNonesum
/operating_model/cells/upside_2027q4_cash_uses:upside/formula/refs/0Noneupside_2027q4_cash_tax
/operating_model/cells/upside_2027q4_cash_uses:upside/formula/refs/1Noneupside_2027q4_cash_interest
/operating_model/cells/upside_2027q4_cash_uses:upside/formula/refs/2Noneupside_2027q4_inventory_other_cash
/operating_model/cells/upside_2027q4_cash_uses:upside/formula/refs/3Noneupside_2027q4_pass_inventory_cash
/operating_model/cells/upside_2027q4_cash_uses:upside/idNoneupside_2027q4_cash_uses
/operating_model/cells/upside_2027q4_cash_uses:upside/kindNonederived
/operating_model/cells/upside_2027q4_cash_uses:upside/labelNoneTax interest and working capital
/operating_model/cells/upside_2027q4_cash_uses:upside/periodNone2027Q4
/operating_model/cells/upside_2027q4_cash_uses:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q4_cash_uses:upside/valueNone36.2
/operating_model/cells/upside_2027q4_cfo:upside/basisNoneNo current-period preferred cash dividend.
/operating_model/cells/upside_2027q4_cfo:upside/caseNoneupside
/operating_model/cells/upside_2027q4_cfo:upside/formula/opNonesubtract
/operating_model/cells/upside_2027q4_cfo:upside/formula/refs/0Noneupside_2027q4_operating_cash_earnings
/operating_model/cells/upside_2027q4_cfo:upside/formula/refs/1Noneupside_2027q4_cash_uses
/operating_model/cells/upside_2027q4_cfo:upside/idNoneupside_2027q4_cfo
/operating_model/cells/upside_2027q4_cfo:upside/kindNonederived
/operating_model/cells/upside_2027q4_cfo:upside/labelNoneOperating cash flow proxy
/operating_model/cells/upside_2027q4_cfo:upside/periodNone2027Q4
/operating_model/cells/upside_2027q4_cfo:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q4_cfo:upside/valueNone-16.591181500000005
/operating_model/cells/upside_2027q4_core_margin:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q4_core_margin:upside/caseNoneupside
/operating_model/cells/upside_2027q4_core_margin:upside/idNoneupside_2027q4_core_margin
/operating_model/cells/upside_2027q4_core_margin:upside/kindNoneassumption
/operating_model/cells/upside_2027q4_core_margin:upside/labelNoneCore gross margin
/operating_model/cells/upside_2027q4_core_margin:upside/periodNone2027Q4
/operating_model/cells/upside_2027q4_core_margin:upside/unitNoneratio
/operating_model/cells/upside_2027q4_core_margin:upside/valueNone0.27
/operating_model/cells/upside_2027q4_core_revenue:upside/basisNoneCurrent manufacturing and conditional acquired operations; stockpile is separate.
/operating_model/cells/upside_2027q4_core_revenue:upside/caseNoneupside
/operating_model/cells/upside_2027q4_core_revenue:upside/formula/opNonesum
/operating_model/cells/upside_2027q4_core_revenue:upside/formula/refs/0Noneupside_2027q4_legacy_demand
/operating_model/cells/upside_2027q4_core_revenue:upside/formula/refs/1Noneupside_2027q4_metal_pass
/operating_model/cells/upside_2027q4_core_revenue:upside/formula/refs/2Noneupside_2027q4_german_revenue
/operating_model/cells/upside_2027q4_core_revenue:upside/idNoneupside_2027q4_core_revenue
/operating_model/cells/upside_2027q4_core_revenue:upside/kindNonederived
/operating_model/cells/upside_2027q4_core_revenue:upside/labelNoneCore and acquired revenue
/operating_model/cells/upside_2027q4_core_revenue:upside/periodNone2027Q4
/operating_model/cells/upside_2027q4_core_revenue:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q4_core_revenue:upside/valueNone119.92155
/operating_model/cells/upside_2027q4_da:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q4_da:upside/caseNoneupside
/operating_model/cells/upside_2027q4_da:upside/idNoneupside_2027q4_da
/operating_model/cells/upside_2027q4_da:upside/kindNoneassumption
/operating_model/cells/upside_2027q4_da:upside/labelNoneOperating D&A
/operating_model/cells/upside_2027q4_da:upside/periodNone2027Q4
/operating_model/cells/upside_2027q4_da:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q4_da:upside/valueNone4.5
/operating_model/cells/upside_2027q4_demand_index:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q4_demand_index:upside/caseNoneupside
/operating_model/cells/upside_2027q4_demand_index:upside/idNoneupside_2027q4_demand_index
/operating_model/cells/upside_2027q4_demand_index:upside/kindNoneassumption
/operating_model/cells/upside_2027q4_demand_index:upside/labelNoneNet volume and mix versus Q2
/operating_model/cells/upside_2027q4_demand_index:upside/periodNone2027Q4
/operating_model/cells/upside_2027q4_demand_index:upside/unitNoneratio
/operating_model/cells/upside_2027q4_demand_index:upside/valueNone1.55
/operating_model/cells/upside_2027q4_eur_usd:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q4_eur_usd:upside/caseNoneupside
/operating_model/cells/upside_2027q4_eur_usd:upside/idNoneupside_2027q4_eur_usd
/operating_model/cells/upside_2027q4_eur_usd:upside/kindNoneassumption
/operating_model/cells/upside_2027q4_eur_usd:upside/labelNoneUSD per EUR conversion
/operating_model/cells/upside_2027q4_eur_usd:upside/periodNone2027Q4
/operating_model/cells/upside_2027q4_eur_usd:upside/unitNoneratio
/operating_model/cells/upside_2027q4_eur_usd:upside/valueNone1.08
/operating_model/cells/upside_2027q4_funding_weight:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q4_funding_weight:upside/caseNoneupside
/operating_model/cells/upside_2027q4_funding_weight:upside/idNoneupside_2027q4_funding_weight
/operating_model/cells/upside_2027q4_funding_weight:upside/kindNoneassumption
/operating_model/cells/upside_2027q4_funding_weight:upside/labelNoneNew funding quarter weight
/operating_model/cells/upside_2027q4_funding_weight:upside/periodNone2027Q4
/operating_model/cells/upside_2027q4_funding_weight:upside/unitNoneratio
/operating_model/cells/upside_2027q4_funding_weight:upside/valueNone0.25
/operating_model/cells/upside_2027q4_german_eur_amount:upside/basisNoneDesk working capital and net pension assumptions in contractual price formula; signed amount can be negative.
/operating_model/cells/upside_2027q4_german_eur_amount:upside/caseNoneupside
/operating_model/cells/upside_2027q4_german_eur_amount:upside/idNoneupside_2027q4_german_eur_amount
/operating_model/cells/upside_2027q4_german_eur_amount:upside/kindNoneassumption
/operating_model/cells/upside_2027q4_german_eur_amount:upside/labelNoneGerman net price sensitivity, EUR millions represented at 1:1 before FX
/operating_model/cells/upside_2027q4_german_eur_amount:upside/periodNone2027Q4
/operating_model/cells/upside_2027q4_german_eur_amount:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q4_german_eur_amount:upside/valueNone0.0
/operating_model/cells/upside_2027q4_german_gross:upside/basisNoneUnverified post-close margin.
/operating_model/cells/upside_2027q4_german_gross:upside/caseNoneupside
/operating_model/cells/upside_2027q4_german_gross:upside/formula/opNonemultiply
/operating_model/cells/upside_2027q4_german_gross:upside/formula/refs/0Noneupside_2027q4_german_revenue
/operating_model/cells/upside_2027q4_german_gross:upside/formula/refs/1Noneupside_2027q4_german_margin
/operating_model/cells/upside_2027q4_german_gross:upside/idNoneupside_2027q4_german_gross
/operating_model/cells/upside_2027q4_german_gross:upside/kindNonederived
/operating_model/cells/upside_2027q4_german_gross:upside/labelNoneGerman gross contribution
/operating_model/cells/upside_2027q4_german_gross:upside/periodNone2027Q4
/operating_model/cells/upside_2027q4_german_gross:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q4_german_gross:upside/valueNone2.52
/operating_model/cells/upside_2027q4_german_margin:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q4_german_margin:upside/caseNoneupside
/operating_model/cells/upside_2027q4_german_margin:upside/idNoneupside_2027q4_german_margin
/operating_model/cells/upside_2027q4_german_margin:upside/kindNoneassumption
/operating_model/cells/upside_2027q4_german_margin:upside/labelNoneAcquired gross margin
/operating_model/cells/upside_2027q4_german_margin:upside/periodNone2027Q4
/operating_model/cells/upside_2027q4_german_margin:upside/unitNoneratio
/operating_model/cells/upside_2027q4_german_margin:upside/valueNone0.18
/operating_model/cells/upside_2027q4_german_price:upside/basisNoneScenario only; metal inventory and pension measurement can materially change final consideration.
/operating_model/cells/upside_2027q4_german_price:upside/caseNoneupside
/operating_model/cells/upside_2027q4_german_price:upside/formula/opNonemultiply
/operating_model/cells/upside_2027q4_german_price:upside/formula/refs/0Noneupside_2027q4_german_eur_amount
/operating_model/cells/upside_2027q4_german_price:upside/formula/refs/1Noneupside_2027q4_eur_usd
/operating_model/cells/upside_2027q4_german_price:upside/idNoneupside_2027q4_german_price
/operating_model/cells/upside_2027q4_german_price:upside/kindNonederived
/operating_model/cells/upside_2027q4_german_price:upside/labelNoneConditional German closing cash in USD
/operating_model/cells/upside_2027q4_german_price:upside/periodNone2027Q4
/operating_model/cells/upside_2027q4_german_price:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q4_german_price:upside/valueNone0.0
/operating_model/cells/upside_2027q4_german_revenue:upside/basisNoneDesk acquired-period contribution only after assumed closing; transaction remains conditional.
/operating_model/cells/upside_2027q4_german_revenue:upside/caseNoneupside
/operating_model/cells/upside_2027q4_german_revenue:upside/idNoneupside_2027q4_german_revenue
/operating_model/cells/upside_2027q4_german_revenue:upside/kindNoneassumption
/operating_model/cells/upside_2027q4_german_revenue:upside/labelNoneConditional acquired German revenue
/operating_model/cells/upside_2027q4_german_revenue:upside/periodNone2027Q4
/operating_model/cells/upside_2027q4_german_revenue:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q4_german_revenue:upside/valueNone14.0
/operating_model/cells/upside_2027q4_gross_profit:upside/basisNoneCompany forecasts are not supplied for the new program.
/operating_model/cells/upside_2027q4_gross_profit:upside/caseNoneupside
/operating_model/cells/upside_2027q4_gross_profit:upside/formula/opNonesum
/operating_model/cells/upside_2027q4_gross_profit:upside/formula/refs/0Noneupside_2027q4_legacy_gross
/operating_model/cells/upside_2027q4_gross_profit:upside/formula/refs/1Noneupside_2027q4_price_gross
/operating_model/cells/upside_2027q4_gross_profit:upside/formula/refs/2Noneupside_2027q4_german_gross
/operating_model/cells/upside_2027q4_gross_profit:upside/formula/refs/3Noneupside_2027q4_stockpile_gross
/operating_model/cells/upside_2027q4_gross_profit:upside/idNoneupside_2027q4_gross_profit
/operating_model/cells/upside_2027q4_gross_profit:upside/kindNonederived
/operating_model/cells/upside_2027q4_gross_profit:upside/labelNoneGross profit proxy
/operating_model/cells/upside_2027q4_gross_profit:upside/periodNone2027Q4
/operating_model/cells/upside_2027q4_gross_profit:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q4_gross_profit:upside/valueNone35.1088185
/operating_model/cells/upside_2027q4_inventory_other_cash:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q4_inventory_other_cash:upside/caseNoneupside
/operating_model/cells/upside_2027q4_inventory_other_cash:upside/idNoneupside_2027q4_inventory_other_cash
/operating_model/cells/upside_2027q4_inventory_other_cash:upside/kindNoneassumption
/operating_model/cells/upside_2027q4_inventory_other_cash:upside/labelNoneInventory and other working-capital use
/operating_model/cells/upside_2027q4_inventory_other_cash:upside/periodNone2027Q4
/operating_model/cells/upside_2027q4_inventory_other_cash:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q4_inventory_other_cash:upside/valueNone30.0
/operating_model/cells/upside_2027q4_inventory_price_fraction:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q4_inventory_price_fraction:upside/caseNoneupside
/operating_model/cells/upside_2027q4_inventory_price_fraction:upside/idNoneupside_2027q4_inventory_price_fraction
/operating_model/cells/upside_2027q4_inventory_price_fraction:upside/kindNoneassumption
/operating_model/cells/upside_2027q4_inventory_price_fraction:upside/labelNonePrice-related inventory funding share
/operating_model/cells/upside_2027q4_inventory_price_fraction:upside/periodNone2027Q4
/operating_model/cells/upside_2027q4_inventory_price_fraction:upside/unitNoneratio
/operating_model/cells/upside_2027q4_inventory_price_fraction:upside/valueNone0.5
/operating_model/cells/upside_2027q4_legacy_demand:upside/basisNoneDemand separated from incremental metal-price pass-through.
/operating_model/cells/upside_2027q4_legacy_demand:upside/caseNoneupside
/operating_model/cells/upside_2027q4_legacy_demand:upside/formula/opNonemultiply
/operating_model/cells/upside_2027q4_legacy_demand:upside/formula/refs/0Noneq2_revenue
/operating_model/cells/upside_2027q4_legacy_demand:upside/formula/refs/1Noneupside_2027q4_demand_index
/operating_model/cells/upside_2027q4_legacy_demand:upside/idNoneupside_2027q4_legacy_demand
/operating_model/cells/upside_2027q4_legacy_demand:upside/kindNonederived
/operating_model/cells/upside_2027q4_legacy_demand:upside/labelNoneLegacy revenue at reference metal prices
/operating_model/cells/upside_2027q4_legacy_demand:upside/periodNone2027Q4
/operating_model/cells/upside_2027q4_legacy_demand:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q4_legacy_demand:upside/valueNone102.92155
/operating_model/cells/upside_2027q4_legacy_gross:upside/basisNoneIndependent operating-margin scenario.
/operating_model/cells/upside_2027q4_legacy_gross:upside/caseNoneupside
/operating_model/cells/upside_2027q4_legacy_gross:upside/formula/opNonemultiply
/operating_model/cells/upside_2027q4_legacy_gross:upside/formula/refs/0Noneupside_2027q4_legacy_demand
/operating_model/cells/upside_2027q4_legacy_gross:upside/formula/refs/1Noneupside_2027q4_core_margin
/operating_model/cells/upside_2027q4_legacy_gross:upside/idNoneupside_2027q4_legacy_gross
/operating_model/cells/upside_2027q4_legacy_gross:upside/kindNonederived
/operating_model/cells/upside_2027q4_legacy_gross:upside/labelNoneLegacy gross profit
/operating_model/cells/upside_2027q4_legacy_gross:upside/periodNone2027Q4
/operating_model/cells/upside_2027q4_legacy_gross:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q4_legacy_gross:upside/valueNone27.7888185
/operating_model/cells/upside_2027q4_metal_cost:upside/basisNoneAt 100% pass-through, higher commodity prices do not create gross profit.
/operating_model/cells/upside_2027q4_metal_cost:upside/caseNoneupside
/operating_model/cells/upside_2027q4_metal_cost:upside/formula/opNonemultiply
/operating_model/cells/upside_2027q4_metal_cost:upside/formula/refs/0Noneupside_2027q4_metal_pass
/operating_model/cells/upside_2027q4_metal_cost:upside/formula/refs/1Noneupside_2027q4_pass_cost_ratio
/operating_model/cells/upside_2027q4_metal_cost:upside/idNoneupside_2027q4_metal_cost
/operating_model/cells/upside_2027q4_metal_cost:upside/kindNonederived
/operating_model/cells/upside_2027q4_metal_cost:upside/labelNoneMatched input price cost
/operating_model/cells/upside_2027q4_metal_cost:upside/periodNone2027Q4
/operating_model/cells/upside_2027q4_metal_cost:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q4_metal_cost:upside/valueNone3.0
/operating_model/cells/upside_2027q4_metal_pass:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q4_metal_pass:upside/caseNoneupside
/operating_model/cells/upside_2027q4_metal_pass:upside/idNoneupside_2027q4_metal_pass
/operating_model/cells/upside_2027q4_metal_pass:upside/kindNoneassumption
/operating_model/cells/upside_2027q4_metal_pass:upside/labelNoneIncremental raw-material price pass-through
/operating_model/cells/upside_2027q4_metal_pass:upside/periodNone2027Q4
/operating_model/cells/upside_2027q4_metal_pass:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q4_metal_pass:upside/valueNone3.0
/operating_model/cells/upside_2027q4_new_pik_basis:upside/basisNoneInitial 19-day approximate accrual; later tranches assumed late-quarter.
/operating_model/cells/upside_2027q4_new_pik_basis:upside/caseNoneupside
/operating_model/cells/upside_2027q4_new_pik_basis:upside/formula/opNonemultiply
/operating_model/cells/upside_2027q4_new_pik_basis:upside/formula/refs/0Noneupside_2027q4_preferred_funding
/operating_model/cells/upside_2027q4_new_pik_basis:upside/formula/refs/1Noneupside_2027q4_funding_weight
/operating_model/cells/upside_2027q4_new_pik_basis:upside/idNoneupside_2027q4_new_pik_basis
/operating_model/cells/upside_2027q4_new_pik_basis:upside/kindNonederived
/operating_model/cells/upside_2027q4_new_pik_basis:upside/labelNoneNew funding weighted for partial quarter
/operating_model/cells/upside_2027q4_new_pik_basis:upside/periodNone2027Q4
/operating_model/cells/upside_2027q4_new_pik_basis:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q4_new_pik_basis:upside/valueNone0.0
/operating_model/cells/upside_2027q4_operating_cash_earnings:upside/basisNoneNo debt forgiveness or financing gain.
/operating_model/cells/upside_2027q4_operating_cash_earnings:upside/caseNoneupside
/operating_model/cells/upside_2027q4_operating_cash_earnings:upside/formula/opNonesum
/operating_model/cells/upside_2027q4_operating_cash_earnings:upside/formula/refs/0Noneupside_2027q4_operating_income
/operating_model/cells/upside_2027q4_operating_cash_earnings:upside/formula/refs/1Noneupside_2027q4_sbc
/operating_model/cells/upside_2027q4_operating_cash_earnings:upside/formula/refs/2Noneupside_2027q4_da
/operating_model/cells/upside_2027q4_operating_cash_earnings:upside/formula/refs/3Noneupside_2027q4_cash_interest_income
/operating_model/cells/upside_2027q4_operating_cash_earnings:upside/idNoneupside_2027q4_operating_cash_earnings
/operating_model/cells/upside_2027q4_operating_cash_earnings:upside/kindNonederived
/operating_model/cells/upside_2027q4_operating_cash_earnings:upside/labelNoneOperating earnings plus noncash and interest
/operating_model/cells/upside_2027q4_operating_cash_earnings:upside/periodNone2027Q4
/operating_model/cells/upside_2027q4_operating_cash_earnings:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q4_operating_cash_earnings:upside/valueNone19.608818499999998
/operating_model/cells/upside_2027q4_operating_income:upside/basisNonePreferred PIK is below operating economics, not operating expense.
/operating_model/cells/upside_2027q4_operating_income:upside/caseNoneupside
/operating_model/cells/upside_2027q4_operating_income:upside/formula/opNonesubtract
/operating_model/cells/upside_2027q4_operating_income:upside/formula/refs/0Noneupside_2027q4_gross_profit
/operating_model/cells/upside_2027q4_operating_income:upside/formula/refs/1Noneupside_2027q4_opex
/operating_model/cells/upside_2027q4_operating_income:upside/idNoneupside_2027q4_operating_income
/operating_model/cells/upside_2027q4_operating_income:upside/kindNonederived
/operating_model/cells/upside_2027q4_operating_income:upside/labelNoneOperating income proxy
/operating_model/cells/upside_2027q4_operating_income:upside/periodNone2027Q4
/operating_model/cells/upside_2027q4_operating_income:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q4_operating_income:upside/valueNone10.108818499999998
/operating_model/cells/upside_2027q4_opex:upside/basisNoneNo repeat of H1 IPO SBC as if recurring every quarter.
/operating_model/cells/upside_2027q4_opex:upside/caseNoneupside
/operating_model/cells/upside_2027q4_opex:upside/formula/opNonesum
/operating_model/cells/upside_2027q4_opex:upside/formula/refs/0Noneupside_2027q4_cash_opex
/operating_model/cells/upside_2027q4_opex:upside/formula/refs/1Noneupside_2027q4_sbc
/operating_model/cells/upside_2027q4_opex:upside/formula/refs/2Noneupside_2027q4_da
/operating_model/cells/upside_2027q4_opex:upside/formula/refs/3Noneupside_2027q4_cash_bonus
/operating_model/cells/upside_2027q4_opex:upside/idNoneupside_2027q4_opex
/operating_model/cells/upside_2027q4_opex:upside/kindNonederived
/operating_model/cells/upside_2027q4_opex:upside/labelNoneCash overhead SBC and D&A
/operating_model/cells/upside_2027q4_opex:upside/periodNone2027Q4
/operating_model/cells/upside_2027q4_opex:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q4_opex:upside/valueNone25.0
/operating_model/cells/upside_2027q4_pass_cost_ratio:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q4_pass_cost_ratio:upside/caseNoneupside
/operating_model/cells/upside_2027q4_pass_cost_ratio:upside/idNoneupside_2027q4_pass_cost_ratio
/operating_model/cells/upside_2027q4_pass_cost_ratio:upside/kindNoneassumption
/operating_model/cells/upside_2027q4_pass_cost_ratio:upside/labelNoneInput-cost share of pass-through
/operating_model/cells/upside_2027q4_pass_cost_ratio:upside/periodNone2027Q4
/operating_model/cells/upside_2027q4_pass_cost_ratio:upside/unitNoneratio
/operating_model/cells/upside_2027q4_pass_cost_ratio:upside/valueNone1.0
/operating_model/cells/upside_2027q4_pass_inventory_cash:upside/basisNoneCommodity inflation can tie up cash despite matched gross profit.
/operating_model/cells/upside_2027q4_pass_inventory_cash:upside/caseNoneupside
/operating_model/cells/upside_2027q4_pass_inventory_cash:upside/formula/opNonemultiply
/operating_model/cells/upside_2027q4_pass_inventory_cash:upside/formula/refs/0Noneupside_2027q4_metal_pass
/operating_model/cells/upside_2027q4_pass_inventory_cash:upside/formula/refs/1Noneupside_2027q4_inventory_price_fraction
/operating_model/cells/upside_2027q4_pass_inventory_cash:upside/idNoneupside_2027q4_pass_inventory_cash
/operating_model/cells/upside_2027q4_pass_inventory_cash:upside/kindNonederived
/operating_model/cells/upside_2027q4_pass_inventory_cash:upside/labelNoneAdditional price-related inventory funding
/operating_model/cells/upside_2027q4_pass_inventory_cash:upside/periodNone2027Q4
/operating_model/cells/upside_2027q4_pass_inventory_cash:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q4_pass_inventory_cash:upside/valueNone1.5
/operating_model/cells/upside_2027q4_pik_basis:upside/basisNoneExisting balance includes prior PIK compounding.
/operating_model/cells/upside_2027q4_pik_basis:upside/caseNoneupside
/operating_model/cells/upside_2027q4_pik_basis:upside/formula/opNonesum
/operating_model/cells/upside_2027q4_pik_basis:upside/formula/refs/0Noneupside_2027q3_preferred_ending
/operating_model/cells/upside_2027q4_pik_basis:upside/formula/refs/1Noneupside_2027q4_new_pik_basis
/operating_model/cells/upside_2027q4_pik_basis:upside/idNoneupside_2027q4_pik_basis
/operating_model/cells/upside_2027q4_pik_basis:upside/kindNonederived
/operating_model/cells/upside_2027q4_pik_basis:upside/labelNoneWeighted preferred claim for PIK
/operating_model/cells/upside_2027q4_pik_basis:upside/periodNone2027Q4
/operating_model/cells/upside_2027q4_pik_basis:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q4_pik_basis:upside/valueNone313.56833683530414
/operating_model/cells/upside_2027q4_preferred_ending:upside/basisNoneStock balance, not an annual flow; ignores warrant-linked liquidation preference reductions.
/operating_model/cells/upside_2027q4_preferred_ending:upside/caseNoneupside
/operating_model/cells/upside_2027q4_preferred_ending:upside/formula/opNonesum
/operating_model/cells/upside_2027q4_preferred_ending:upside/formula/refs/0Noneupside_2027q3_preferred_ending
/operating_model/cells/upside_2027q4_preferred_ending:upside/formula/refs/1Noneupside_2027q4_preferred_funding
/operating_model/cells/upside_2027q4_preferred_ending:upside/formula/refs/2Noneupside_2027q4_preferred_pik
/operating_model/cells/upside_2027q4_preferred_ending:upside/idNoneupside_2027q4_preferred_ending
/operating_model/cells/upside_2027q4_preferred_ending:upside/kindNonederived
/operating_model/cells/upside_2027q4_preferred_ending:upside/labelNoneEnding preferred claim before warrant adjustments
/operating_model/cells/upside_2027q4_preferred_ending:upside/periodNone2027Q4
/operating_model/cells/upside_2027q4_preferred_ending:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q4_preferred_ending:upside/valueNone317.8799014667896
/operating_model/cells/upside_2027q4_preferred_funding:upside/basisNoneInitial $200M received September 14; any later $50M receipt is conditional and respects six-month tranche availability.
/operating_model/cells/upside_2027q4_preferred_funding:upside/caseNoneupside
/operating_model/cells/upside_2027q4_preferred_funding:upside/idNoneupside_2027q4_preferred_funding
/operating_model/cells/upside_2027q4_preferred_funding:upside/kindNoneassumption
/operating_model/cells/upside_2027q4_preferred_funding:upside/labelNonePreferred financing receipts
/operating_model/cells/upside_2027q4_preferred_funding:upside/periodNone2027Q4
/operating_model/cells/upside_2027q4_preferred_funding:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q4_preferred_funding:upside/valueNone0.0
/operating_model/cells/upside_2027q4_preferred_pik:upside/basisNoneNoncash senior claim; no deduction from current-period cash.
/operating_model/cells/upside_2027q4_preferred_pik:upside/caseNoneupside
/operating_model/cells/upside_2027q4_preferred_pik:upside/formula/opNonemultiply
/operating_model/cells/upside_2027q4_preferred_pik:upside/formula/refs/0Noneupside_2027q4_pik_basis
/operating_model/cells/upside_2027q4_preferred_pik:upside/formula/refs/1Nonepreferred_rate
/operating_model/cells/upside_2027q4_preferred_pik:upside/formula/refs/2Noneupside_2027q4_quarter_year
/operating_model/cells/upside_2027q4_preferred_pik:upside/idNoneupside_2027q4_preferred_pik
/operating_model/cells/upside_2027q4_preferred_pik:upside/kindNonederived
/operating_model/cells/upside_2027q4_preferred_pik:upside/labelNonePreferred economic PIK accrual
/operating_model/cells/upside_2027q4_preferred_pik:upside/periodNone2027Q4
/operating_model/cells/upside_2027q4_preferred_pik:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q4_preferred_pik:upside/valueNone4.311564631485432
/operating_model/cells/upside_2027q4_price_gross:upside/basisNoneMismatch sensitivity is explicit.
/operating_model/cells/upside_2027q4_price_gross:upside/caseNoneupside
/operating_model/cells/upside_2027q4_price_gross:upside/formula/opNonesubtract
/operating_model/cells/upside_2027q4_price_gross:upside/formula/refs/0Noneupside_2027q4_metal_pass
/operating_model/cells/upside_2027q4_price_gross:upside/formula/refs/1Noneupside_2027q4_metal_cost
/operating_model/cells/upside_2027q4_price_gross:upside/idNoneupside_2027q4_price_gross
/operating_model/cells/upside_2027q4_price_gross:upside/kindNonederived
/operating_model/cells/upside_2027q4_price_gross:upside/labelNoneIncremental price pass-through gross profit
/operating_model/cells/upside_2027q4_price_gross:upside/periodNone2027Q4
/operating_model/cells/upside_2027q4_price_gross:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q4_price_gross:upside/valueNone0.0
/operating_model/cells/upside_2027q4_quarter_year:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q4_quarter_year:upside/caseNoneupside
/operating_model/cells/upside_2027q4_quarter_year:upside/idNoneupside_2027q4_quarter_year
/operating_model/cells/upside_2027q4_quarter_year:upside/kindNoneassumption
/operating_model/cells/upside_2027q4_quarter_year:upside/labelNoneQuarter-year fraction
/operating_model/cells/upside_2027q4_quarter_year:upside/periodNone2027Q4
/operating_model/cells/upside_2027q4_quarter_year:upside/unitNoneratio
/operating_model/cells/upside_2027q4_quarter_year:upside/valueNone0.25
/operating_model/cells/upside_2027q4_raw_prepay:upside/basisNoneDesk first and milestone-conditioned second $25M funding; later negative amounts are consumption/settlement credits, not new revenue.
/operating_model/cells/upside_2027q4_raw_prepay:upside/caseNoneupside
/operating_model/cells/upside_2027q4_raw_prepay:upside/idNoneupside_2027q4_raw_prepay
/operating_model/cells/upside_2027q4_raw_prepay:upside/kindNoneassumption
/operating_model/cells/upside_2027q4_raw_prepay:upside/labelNoneNet new raw-material prepayments
/operating_model/cells/upside_2027q4_raw_prepay:upside/periodNone2027Q4
/operating_model/cells/upside_2027q4_raw_prepay:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q4_raw_prepay:upside/valueNone-2.0
/operating_model/cells/upside_2027q4_revenue:upside/basisNoneNo recognition of preferred funding as revenue.
/operating_model/cells/upside_2027q4_revenue:upside/caseNoneupside
/operating_model/cells/upside_2027q4_revenue:upside/formula/opNonesum
/operating_model/cells/upside_2027q4_revenue:upside/formula/refs/0Noneupside_2027q4_core_revenue
/operating_model/cells/upside_2027q4_revenue:upside/formula/refs/1Noneupside_2027q4_stockpile_revenue
/operating_model/cells/upside_2027q4_revenue:upside/idNoneupside_2027q4_revenue
/operating_model/cells/upside_2027q4_revenue:upside/kindNonederived
/operating_model/cells/upside_2027q4_revenue:upside/labelNoneTotal revenue
/operating_model/cells/upside_2027q4_revenue:upside/periodNone2027Q4
/operating_model/cells/upside_2027q4_revenue:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q4_revenue:upside/valueNone159.92155
/operating_model/cells/upside_2027q4_sbc:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q4_sbc:upside/caseNoneupside
/operating_model/cells/upside_2027q4_sbc:upside/idNoneupside_2027q4_sbc
/operating_model/cells/upside_2027q4_sbc:upside/kindNoneassumption
/operating_model/cells/upside_2027q4_sbc:upside/labelNoneSBC
/operating_model/cells/upside_2027q4_sbc:upside/periodNone2027Q4
/operating_model/cells/upside_2027q4_sbc:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q4_sbc:upside/valueNone3.0
/operating_model/cells/upside_2027q4_stock_margin:upside/basisNoneDesk assumption; not company guidance.
/operating_model/cells/upside_2027q4_stock_margin:upside/caseNoneupside
/operating_model/cells/upside_2027q4_stock_margin:upside/idNoneupside_2027q4_stock_margin
/operating_model/cells/upside_2027q4_stock_margin:upside/kindNoneassumption
/operating_model/cells/upside_2027q4_stock_margin:upside/labelNoneStockpile gross margin
/operating_model/cells/upside_2027q4_stock_margin:upside/periodNone2027Q4
/operating_model/cells/upside_2027q4_stock_margin:upside/unitNoneratio
/operating_model/cells/upside_2027q4_stock_margin:upside/valueNone0.12
/operating_model/cells/upside_2027q4_stockpile_gross:upside/basisNoneProcured input cost is reflected in margin; no unsupported floor-price assumption.
/operating_model/cells/upside_2027q4_stockpile_gross:upside/caseNoneupside
/operating_model/cells/upside_2027q4_stockpile_gross:upside/formula/opNonemultiply
/operating_model/cells/upside_2027q4_stockpile_gross:upside/formula/refs/0Noneupside_2027q4_stockpile_revenue
/operating_model/cells/upside_2027q4_stockpile_gross:upside/formula/refs/1Noneupside_2027q4_stock_margin
/operating_model/cells/upside_2027q4_stockpile_gross:upside/idNoneupside_2027q4_stockpile_gross
/operating_model/cells/upside_2027q4_stockpile_gross:upside/kindNonederived
/operating_model/cells/upside_2027q4_stockpile_gross:upside/labelNoneStockpile gross contribution
/operating_model/cells/upside_2027q4_stockpile_gross:upside/periodNone2027Q4
/operating_model/cells/upside_2027q4_stockpile_gross:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q4_stockpile_gross:upside/valueNone4.8
/operating_model/cells/upside_2027q4_stockpile_revenue:upside/basisNoneSupply-qualified delivery assumption, not pro-rata recognition of the contract ceiling or minimum.
/operating_model/cells/upside_2027q4_stockpile_revenue:upside/caseNoneupside
/operating_model/cells/upside_2027q4_stockpile_revenue:upside/idNoneupside_2027q4_stockpile_revenue
/operating_model/cells/upside_2027q4_stockpile_revenue:upside/kindNoneassumption
/operating_model/cells/upside_2027q4_stockpile_revenue:upside/labelNoneAccepted incremental stockpile deliveries
/operating_model/cells/upside_2027q4_stockpile_revenue:upside/periodNone2027Q4
/operating_model/cells/upside_2027q4_stockpile_revenue:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q4_stockpile_revenue:upside/valueNone40.0
/operating_model/cells/upside_2027q4_strategic_cash:upside/basisNonePrepaid input consumption cash credits avoid charging both historical prepayment and subsequent COGS cash without adjustment.
/operating_model/cells/upside_2027q4_strategic_cash:upside/caseNoneupside
/operating_model/cells/upside_2027q4_strategic_cash:upside/formula/opNonesum
/operating_model/cells/upside_2027q4_strategic_cash:upside/formula/refs/0Noneupside_2027q4_blue_moon
/operating_model/cells/upside_2027q4_strategic_cash:upside/formula/refs/1Noneupside_2027q4_raw_prepay
/operating_model/cells/upside_2027q4_strategic_cash:upside/formula/refs/2Noneupside_2027q4_german_price
/operating_model/cells/upside_2027q4_strategic_cash:upside/idNoneupside_2027q4_strategic_cash
/operating_model/cells/upside_2027q4_strategic_cash:upside/kindNonederived
/operating_model/cells/upside_2027q4_strategic_cash:upside/labelNoneMinority prepayment and acquisition cash
/operating_model/cells/upside_2027q4_strategic_cash:upside/periodNone2027Q4
/operating_model/cells/upside_2027q4_strategic_cash:upside/unitNoneUSD_millions
/operating_model/cells/upside_2027q4_strategic_cash:upside/valueNone-2.0
/operating_model/cells/upside_fy2026_capex:upside/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/upside_fy2026_capex:upside/caseNoneupside
/operating_model/cells/upside_fy2026_capex:upside/formula/opNonesum
/operating_model/cells/upside_fy2026_capex:upside/formula/refs/0Noneh1_capex
/operating_model/cells/upside_fy2026_capex:upside/formula/refs/1Noneupside_2026q3_capex
/operating_model/cells/upside_fy2026_capex:upside/formula/refs/2Noneupside_2026q4_capex
/operating_model/cells/upside_fy2026_capex:upside/idNoneupside_fy2026_capex
/operating_model/cells/upside_fy2026_capex:upside/kindNonederived
/operating_model/cells/upside_fy2026_capex:upside/labelNoneNet cash PP&E including controlled JV ($M)
/operating_model/cells/upside_fy2026_capex:upside/periodNoneFY2026
/operating_model/cells/upside_fy2026_capex:upside/unitNoneUSD_millions
/operating_model/cells/upside_fy2026_capex:upside/valueNone48.141
/operating_model/cells/upside_fy2026_cash_after_funding:upside/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/upside_fy2026_cash_after_funding:upside/caseNoneupside
/operating_model/cells/upside_fy2026_cash_after_funding:upside/formula/opNonesum
/operating_model/cells/upside_fy2026_cash_after_funding:upside/formula/refs/0Noneh1_cash_after_funding
/operating_model/cells/upside_fy2026_cash_after_funding:upside/formula/refs/1Noneupside_2026q3_cash_after_funding
/operating_model/cells/upside_fy2026_cash_after_funding:upside/formula/refs/2Noneupside_2026q4_cash_after_funding
/operating_model/cells/upside_fy2026_cash_after_funding:upside/idNoneupside_fy2026_cash_after_funding
/operating_model/cells/upside_fy2026_cash_after_funding:upside/kindNonederived
/operating_model/cells/upside_fy2026_cash_after_funding:upside/labelNoneCash after preferred funding ($M)
/operating_model/cells/upside_fy2026_cash_after_funding:upside/periodNoneFY2026
/operating_model/cells/upside_fy2026_cash_after_funding:upside/unitNoneUSD_millions
/operating_model/cells/upside_fy2026_cash_after_funding:upside/valueNone68.29104209999998
/operating_model/cells/upside_fy2026_cash_after_investing:upside/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/upside_fy2026_cash_after_investing:upside/caseNoneupside
/operating_model/cells/upside_fy2026_cash_after_investing:upside/formula/opNonesum
/operating_model/cells/upside_fy2026_cash_after_investing:upside/formula/refs/0Noneh1_cash_after_investing
/operating_model/cells/upside_fy2026_cash_after_investing:upside/formula/refs/1Noneupside_2026q3_cash_after_investing
/operating_model/cells/upside_fy2026_cash_after_investing:upside/formula/refs/2Noneupside_2026q4_cash_after_investing
/operating_model/cells/upside_fy2026_cash_after_investing:upside/idNoneupside_fy2026_cash_after_investing
/operating_model/cells/upside_fy2026_cash_after_investing:upside/kindNonederived
/operating_model/cells/upside_fy2026_cash_after_investing:upside/labelNoneCash after business investing ($M)
/operating_model/cells/upside_fy2026_cash_after_investing:upside/periodNoneFY2026
/operating_model/cells/upside_fy2026_cash_after_investing:upside/unitNoneUSD_millions
/operating_model/cells/upside_fy2026_cash_after_investing:upside/valueNone-131.7089579
/operating_model/cells/upside_fy2026_cfo:upside/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/upside_fy2026_cfo:upside/caseNoneupside
/operating_model/cells/upside_fy2026_cfo:upside/formula/opNonesum
/operating_model/cells/upside_fy2026_cfo:upside/formula/refs/0Noneh1_cfo
/operating_model/cells/upside_fy2026_cfo:upside/formula/refs/1Noneupside_2026q3_cfo
/operating_model/cells/upside_fy2026_cfo:upside/formula/refs/2Noneupside_2026q4_cfo
/operating_model/cells/upside_fy2026_cfo:upside/idNoneupside_fy2026_cfo
/operating_model/cells/upside_fy2026_cfo:upside/kindNonederived
/operating_model/cells/upside_fy2026_cfo:upside/labelNoneOperating cash flow proxy ($M)
/operating_model/cells/upside_fy2026_cfo:upside/periodNoneFY2026
/operating_model/cells/upside_fy2026_cfo:upside/unitNoneUSD_millions
/operating_model/cells/upside_fy2026_cfo:upside/valueNone-31.591957899999993
/operating_model/cells/upside_fy2026_core_revenue:upside/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/upside_fy2026_core_revenue:upside/caseNoneupside
/operating_model/cells/upside_fy2026_core_revenue:upside/formula/opNonesum
/operating_model/cells/upside_fy2026_core_revenue:upside/formula/refs/0Noneh1_core_revenue
/operating_model/cells/upside_fy2026_core_revenue:upside/formula/refs/1Noneupside_2026q3_core_revenue
/operating_model/cells/upside_fy2026_core_revenue:upside/formula/refs/2Noneupside_2026q4_core_revenue
/operating_model/cells/upside_fy2026_core_revenue:upside/idNoneupside_fy2026_core_revenue
/operating_model/cells/upside_fy2026_core_revenue:upside/kindNonederived
/operating_model/cells/upside_fy2026_core_revenue:upside/labelNoneCore and acquired component revenue ($M)
/operating_model/cells/upside_fy2026_core_revenue:upside/periodNoneFY2026
/operating_model/cells/upside_fy2026_core_revenue:upside/unitNoneUSD_millions
/operating_model/cells/upside_fy2026_core_revenue:upside/valueNone280.48223
/operating_model/cells/upside_fy2026_gross_profit:upside/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/upside_fy2026_gross_profit:upside/caseNoneupside
/operating_model/cells/upside_fy2026_gross_profit:upside/formula/opNonesum
/operating_model/cells/upside_fy2026_gross_profit:upside/formula/refs/0Noneh1_gross_profit
/operating_model/cells/upside_fy2026_gross_profit:upside/formula/refs/1Noneupside_2026q3_gross_profit
/operating_model/cells/upside_fy2026_gross_profit:upside/formula/refs/2Noneupside_2026q4_gross_profit
/operating_model/cells/upside_fy2026_gross_profit:upside/idNoneupside_fy2026_gross_profit
/operating_model/cells/upside_fy2026_gross_profit:upside/kindNonederived
/operating_model/cells/upside_fy2026_gross_profit:upside/labelNoneGross profit proxy ($M)
/operating_model/cells/upside_fy2026_gross_profit:upside/periodNoneFY2026
/operating_model/cells/upside_fy2026_gross_profit:upside/unitNoneUSD_millions
/operating_model/cells/upside_fy2026_gross_profit:upside/valueNone68.4380421
/operating_model/cells/upside_fy2026_operating_income:upside/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/upside_fy2026_operating_income:upside/caseNoneupside
/operating_model/cells/upside_fy2026_operating_income:upside/formula/opNonesum
/operating_model/cells/upside_fy2026_operating_income:upside/formula/refs/0Noneh1_operating_income
/operating_model/cells/upside_fy2026_operating_income:upside/formula/refs/1Noneupside_2026q3_operating_income
/operating_model/cells/upside_fy2026_operating_income:upside/formula/refs/2Noneupside_2026q4_operating_income
/operating_model/cells/upside_fy2026_operating_income:upside/idNoneupside_fy2026_operating_income
/operating_model/cells/upside_fy2026_operating_income:upside/kindNonederived
/operating_model/cells/upside_fy2026_operating_income:upside/labelNoneOperating income proxy ($M)
/operating_model/cells/upside_fy2026_operating_income:upside/periodNoneFY2026
/operating_model/cells/upside_fy2026_operating_income:upside/unitNoneUSD_millions
/operating_model/cells/upside_fy2026_operating_income:upside/valueNone0.4150421000000053
/operating_model/cells/upside_fy2026_preferred_funding:upside/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/upside_fy2026_preferred_funding:upside/caseNoneupside
/operating_model/cells/upside_fy2026_preferred_funding:upside/formula/opNonesum
/operating_model/cells/upside_fy2026_preferred_funding:upside/formula/refs/0Noneh1_preferred_funding
/operating_model/cells/upside_fy2026_preferred_funding:upside/formula/refs/1Noneupside_2026q3_preferred_funding
/operating_model/cells/upside_fy2026_preferred_funding:upside/formula/refs/2Noneupside_2026q4_preferred_funding
/operating_model/cells/upside_fy2026_preferred_funding:upside/idNoneupside_fy2026_preferred_funding
/operating_model/cells/upside_fy2026_preferred_funding:upside/kindNonederived
/operating_model/cells/upside_fy2026_preferred_funding:upside/labelNonePreferred funding cash ($M)
/operating_model/cells/upside_fy2026_preferred_funding:upside/periodNoneFY2026
/operating_model/cells/upside_fy2026_preferred_funding:upside/unitNoneUSD_millions
/operating_model/cells/upside_fy2026_preferred_funding:upside/valueNone200.0
/operating_model/cells/upside_fy2026_preferred_pik:upside/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/upside_fy2026_preferred_pik:upside/caseNoneupside
/operating_model/cells/upside_fy2026_preferred_pik:upside/formula/opNonesum
/operating_model/cells/upside_fy2026_preferred_pik:upside/formula/refs/0Noneh1_preferred_pik
/operating_model/cells/upside_fy2026_preferred_pik:upside/formula/refs/1Noneupside_2026q3_preferred_pik
/operating_model/cells/upside_fy2026_preferred_pik:upside/formula/refs/2Noneupside_2026q4_preferred_pik
/operating_model/cells/upside_fy2026_preferred_pik:upside/idNoneupside_fy2026_preferred_pik
/operating_model/cells/upside_fy2026_preferred_pik:upside/kindNonederived
/operating_model/cells/upside_fy2026_preferred_pik:upside/labelNonePreferred PIK economic accrual ($M)
/operating_model/cells/upside_fy2026_preferred_pik:upside/periodNoneFY2026
/operating_model/cells/upside_fy2026_preferred_pik:upside/unitNoneUSD_millions
/operating_model/cells/upside_fy2026_preferred_pik:upside/valueNone3.332070741758242
/operating_model/cells/upside_fy2026_revenue:upside/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/upside_fy2026_revenue:upside/caseNoneupside
/operating_model/cells/upside_fy2026_revenue:upside/formula/opNonesum
/operating_model/cells/upside_fy2026_revenue:upside/formula/refs/0Noneh1_revenue
/operating_model/cells/upside_fy2026_revenue:upside/formula/refs/1Noneupside_2026q3_revenue
/operating_model/cells/upside_fy2026_revenue:upside/formula/refs/2Noneupside_2026q4_revenue
/operating_model/cells/upside_fy2026_revenue:upside/idNoneupside_fy2026_revenue
/operating_model/cells/upside_fy2026_revenue:upside/kindNonederived
/operating_model/cells/upside_fy2026_revenue:upside/labelNoneTotal revenue ($M)
/operating_model/cells/upside_fy2026_revenue:upside/periodNoneFY2026
/operating_model/cells/upside_fy2026_revenue:upside/unitNoneUSD_millions
/operating_model/cells/upside_fy2026_revenue:upside/valueNone280.48223
/operating_model/cells/upside_fy2026_stockpile_revenue:upside/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/upside_fy2026_stockpile_revenue:upside/caseNoneupside
/operating_model/cells/upside_fy2026_stockpile_revenue:upside/formula/opNonesum
/operating_model/cells/upside_fy2026_stockpile_revenue:upside/formula/refs/0Noneh1_stockpile_revenue
/operating_model/cells/upside_fy2026_stockpile_revenue:upside/formula/refs/1Noneupside_2026q3_stockpile_revenue
/operating_model/cells/upside_fy2026_stockpile_revenue:upside/formula/refs/2Noneupside_2026q4_stockpile_revenue
/operating_model/cells/upside_fy2026_stockpile_revenue:upside/idNoneupside_fy2026_stockpile_revenue
/operating_model/cells/upside_fy2026_stockpile_revenue:upside/kindNonederived
/operating_model/cells/upside_fy2026_stockpile_revenue:upside/labelNoneAccepted stockpile deliveries ($M)
/operating_model/cells/upside_fy2026_stockpile_revenue:upside/periodNoneFY2026
/operating_model/cells/upside_fy2026_stockpile_revenue:upside/unitNoneUSD_millions
/operating_model/cells/upside_fy2026_stockpile_revenue:upside/valueNone0.0
/operating_model/cells/upside_fy2026_strategic_cash:upside/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/upside_fy2026_strategic_cash:upside/caseNoneupside
/operating_model/cells/upside_fy2026_strategic_cash:upside/formula/opNonesum
/operating_model/cells/upside_fy2026_strategic_cash:upside/formula/refs/0Noneh1_strategic_cash
/operating_model/cells/upside_fy2026_strategic_cash:upside/formula/refs/1Noneupside_2026q3_strategic_cash
/operating_model/cells/upside_fy2026_strategic_cash:upside/formula/refs/2Noneupside_2026q4_strategic_cash
/operating_model/cells/upside_fy2026_strategic_cash:upside/idNoneupside_fy2026_strategic_cash
/operating_model/cells/upside_fy2026_strategic_cash:upside/kindNonederived
/operating_model/cells/upside_fy2026_strategic_cash:upside/labelNonePrepayments minority/acquisition cash ($M)
/operating_model/cells/upside_fy2026_strategic_cash:upside/periodNoneFY2026
/operating_model/cells/upside_fy2026_strategic_cash:upside/unitNoneUSD_millions
/operating_model/cells/upside_fy2026_strategic_cash:upside/valueNone51.976
/operating_model/cells/upside_fy2027_capex:upside/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/upside_fy2027_capex:upside/caseNoneupside
/operating_model/cells/upside_fy2027_capex:upside/formula/opNonesum
/operating_model/cells/upside_fy2027_capex:upside/formula/refs/0Noneupside_2027q1_capex
/operating_model/cells/upside_fy2027_capex:upside/formula/refs/1Noneupside_2027q2_capex
/operating_model/cells/upside_fy2027_capex:upside/formula/refs/2Noneupside_2027q3_capex
/operating_model/cells/upside_fy2027_capex:upside/formula/refs/3Noneupside_2027q4_capex
/operating_model/cells/upside_fy2027_capex:upside/idNoneupside_fy2027_capex
/operating_model/cells/upside_fy2027_capex:upside/kindNonederived
/operating_model/cells/upside_fy2027_capex:upside/labelNoneNet cash PP&E including controlled JV ($M)
/operating_model/cells/upside_fy2027_capex:upside/periodNoneFY2027
/operating_model/cells/upside_fy2027_capex:upside/unitNoneUSD_millions
/operating_model/cells/upside_fy2027_capex:upside/valueNone225.0
/operating_model/cells/upside_fy2027_cash_after_funding:upside/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/upside_fy2027_cash_after_funding:upside/caseNoneupside
/operating_model/cells/upside_fy2027_cash_after_funding:upside/formula/opNonesum
/operating_model/cells/upside_fy2027_cash_after_funding:upside/formula/refs/0Noneupside_2027q1_cash_after_funding
/operating_model/cells/upside_fy2027_cash_after_funding:upside/formula/refs/1Noneupside_2027q2_cash_after_funding
/operating_model/cells/upside_fy2027_cash_after_funding:upside/formula/refs/2Noneupside_2027q3_cash_after_funding
/operating_model/cells/upside_fy2027_cash_after_funding:upside/formula/refs/3Noneupside_2027q4_cash_after_funding
/operating_model/cells/upside_fy2027_cash_after_funding:upside/idNoneupside_fy2027_cash_after_funding
/operating_model/cells/upside_fy2027_cash_after_funding:upside/kindNonederived
/operating_model/cells/upside_fy2027_cash_after_funding:upside/labelNoneCash after preferred funding ($M)
/operating_model/cells/upside_fy2027_cash_after_funding:upside/periodNoneFY2027
/operating_model/cells/upside_fy2027_cash_after_funding:upside/unitNoneUSD_millions
/operating_model/cells/upside_fy2027_cash_after_funding:upside/valueNone-205.236688
/operating_model/cells/upside_fy2027_cash_after_investing:upside/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/upside_fy2027_cash_after_investing:upside/caseNoneupside
/operating_model/cells/upside_fy2027_cash_after_investing:upside/formula/opNonesum
/operating_model/cells/upside_fy2027_cash_after_investing:upside/formula/refs/0Noneupside_2027q1_cash_after_investing
/operating_model/cells/upside_fy2027_cash_after_investing:upside/formula/refs/1Noneupside_2027q2_cash_after_investing
/operating_model/cells/upside_fy2027_cash_after_investing:upside/formula/refs/2Noneupside_2027q3_cash_after_investing
/operating_model/cells/upside_fy2027_cash_after_investing:upside/formula/refs/3Noneupside_2027q4_cash_after_investing
/operating_model/cells/upside_fy2027_cash_after_investing:upside/idNoneupside_fy2027_cash_after_investing
/operating_model/cells/upside_fy2027_cash_after_investing:upside/kindNonederived
/operating_model/cells/upside_fy2027_cash_after_investing:upside/labelNoneCash after business investing ($M)
/operating_model/cells/upside_fy2027_cash_after_investing:upside/periodNoneFY2027
/operating_model/cells/upside_fy2027_cash_after_investing:upside/unitNoneUSD_millions
/operating_model/cells/upside_fy2027_cash_after_investing:upside/valueNone-305.23668799999996
/operating_model/cells/upside_fy2027_cfo:upside/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/upside_fy2027_cfo:upside/caseNoneupside
/operating_model/cells/upside_fy2027_cfo:upside/formula/opNonesum
/operating_model/cells/upside_fy2027_cfo:upside/formula/refs/0Noneupside_2027q1_cfo
/operating_model/cells/upside_fy2027_cfo:upside/formula/refs/1Noneupside_2027q2_cfo
/operating_model/cells/upside_fy2027_cfo:upside/formula/refs/2Noneupside_2027q3_cfo
/operating_model/cells/upside_fy2027_cfo:upside/formula/refs/3Noneupside_2027q4_cfo
/operating_model/cells/upside_fy2027_cfo:upside/idNoneupside_fy2027_cfo
/operating_model/cells/upside_fy2027_cfo:upside/kindNonederived
/operating_model/cells/upside_fy2027_cfo:upside/labelNoneOperating cash flow proxy ($M)
/operating_model/cells/upside_fy2027_cfo:upside/periodNoneFY2027
/operating_model/cells/upside_fy2027_cfo:upside/unitNoneUSD_millions
/operating_model/cells/upside_fy2027_cfo:upside/valueNone-65.581688
/operating_model/cells/upside_fy2027_core_revenue:upside/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/upside_fy2027_core_revenue:upside/caseNoneupside
/operating_model/cells/upside_fy2027_core_revenue:upside/formula/opNonesum
/operating_model/cells/upside_fy2027_core_revenue:upside/formula/refs/0Noneupside_2027q1_core_revenue
/operating_model/cells/upside_fy2027_core_revenue:upside/formula/refs/1Noneupside_2027q2_core_revenue
/operating_model/cells/upside_fy2027_core_revenue:upside/formula/refs/2Noneupside_2027q3_core_revenue
/operating_model/cells/upside_fy2027_core_revenue:upside/formula/refs/3Noneupside_2027q4_core_revenue
/operating_model/cells/upside_fy2027_core_revenue:upside/idNoneupside_fy2027_core_revenue
/operating_model/cells/upside_fy2027_core_revenue:upside/kindNonederived
/operating_model/cells/upside_fy2027_core_revenue:upside/labelNoneCore and acquired component revenue ($M)
/operating_model/cells/upside_fy2027_core_revenue:upside/periodNoneFY2027
/operating_model/cells/upside_fy2027_core_revenue:upside/unitNoneUSD_millions
/operating_model/cells/upside_fy2027_core_revenue:upside/valueNone424.8456
/operating_model/cells/upside_fy2027_gross_profit:upside/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/upside_fy2027_gross_profit:upside/caseNoneupside
/operating_model/cells/upside_fy2027_gross_profit:upside/formula/opNonesum
/operating_model/cells/upside_fy2027_gross_profit:upside/formula/refs/0Noneupside_2027q1_gross_profit
/operating_model/cells/upside_fy2027_gross_profit:upside/formula/refs/1Noneupside_2027q2_gross_profit
/operating_model/cells/upside_fy2027_gross_profit:upside/formula/refs/2Noneupside_2027q3_gross_profit
/operating_model/cells/upside_fy2027_gross_profit:upside/formula/refs/3Noneupside_2027q4_gross_profit
/operating_model/cells/upside_fy2027_gross_profit:upside/idNoneupside_fy2027_gross_profit
/operating_model/cells/upside_fy2027_gross_profit:upside/kindNonederived
/operating_model/cells/upside_fy2027_gross_profit:upside/labelNoneGross profit proxy ($M)
/operating_model/cells/upside_fy2027_gross_profit:upside/periodNoneFY2027
/operating_model/cells/upside_fy2027_gross_profit:upside/unitNoneUSD_millions
/operating_model/cells/upside_fy2027_gross_profit:upside/valueNone117.618312
/operating_model/cells/upside_fy2027_operating_income:upside/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/upside_fy2027_operating_income:upside/caseNoneupside
/operating_model/cells/upside_fy2027_operating_income:upside/formula/opNonesum
/operating_model/cells/upside_fy2027_operating_income:upside/formula/refs/0Noneupside_2027q1_operating_income
/operating_model/cells/upside_fy2027_operating_income:upside/formula/refs/1Noneupside_2027q2_operating_income
/operating_model/cells/upside_fy2027_operating_income:upside/formula/refs/2Noneupside_2027q3_operating_income
/operating_model/cells/upside_fy2027_operating_income:upside/formula/refs/3Noneupside_2027q4_operating_income
/operating_model/cells/upside_fy2027_operating_income:upside/idNoneupside_fy2027_operating_income
/operating_model/cells/upside_fy2027_operating_income:upside/kindNonederived
/operating_model/cells/upside_fy2027_operating_income:upside/labelNoneOperating income proxy ($M)
/operating_model/cells/upside_fy2027_operating_income:upside/periodNoneFY2027
/operating_model/cells/upside_fy2027_operating_income:upside/unitNoneUSD_millions
/operating_model/cells/upside_fy2027_operating_income:upside/valueNone25.418312000000004
/operating_model/cells/upside_fy2027_preferred_funding:upside/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/upside_fy2027_preferred_funding:upside/caseNoneupside
/operating_model/cells/upside_fy2027_preferred_funding:upside/formula/opNonesum
/operating_model/cells/upside_fy2027_preferred_funding:upside/formula/refs/0Noneupside_2027q1_preferred_funding
/operating_model/cells/upside_fy2027_preferred_funding:upside/formula/refs/1Noneupside_2027q2_preferred_funding
/operating_model/cells/upside_fy2027_preferred_funding:upside/formula/refs/2Noneupside_2027q3_preferred_funding
/operating_model/cells/upside_fy2027_preferred_funding:upside/formula/refs/3Noneupside_2027q4_preferred_funding
/operating_model/cells/upside_fy2027_preferred_funding:upside/idNoneupside_fy2027_preferred_funding
/operating_model/cells/upside_fy2027_preferred_funding:upside/kindNonederived
/operating_model/cells/upside_fy2027_preferred_funding:upside/labelNonePreferred funding cash ($M)
/operating_model/cells/upside_fy2027_preferred_funding:upside/periodNoneFY2027
/operating_model/cells/upside_fy2027_preferred_funding:upside/unitNoneUSD_millions
/operating_model/cells/upside_fy2027_preferred_funding:upside/valueNone100.0
/operating_model/cells/upside_fy2027_preferred_pik:upside/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/upside_fy2027_preferred_pik:upside/caseNoneupside
/operating_model/cells/upside_fy2027_preferred_pik:upside/formula/opNonesum
/operating_model/cells/upside_fy2027_preferred_pik:upside/formula/refs/0Noneupside_2027q1_preferred_pik
/operating_model/cells/upside_fy2027_preferred_pik:upside/formula/refs/1Noneupside_2027q2_preferred_pik
/operating_model/cells/upside_fy2027_preferred_pik:upside/formula/refs/2Noneupside_2027q3_preferred_pik
/operating_model/cells/upside_fy2027_preferred_pik:upside/formula/refs/3Noneupside_2027q4_preferred_pik
/operating_model/cells/upside_fy2027_preferred_pik:upside/idNoneupside_fy2027_preferred_pik
/operating_model/cells/upside_fy2027_preferred_pik:upside/kindNonederived
/operating_model/cells/upside_fy2027_preferred_pik:upside/labelNonePreferred PIK economic accrual ($M)
/operating_model/cells/upside_fy2027_preferred_pik:upside/periodNoneFY2027
/operating_model/cells/upside_fy2027_preferred_pik:upside/unitNoneUSD_millions
/operating_model/cells/upside_fy2027_preferred_pik:upside/valueNone14.547830725031325
/operating_model/cells/upside_fy2027_revenue:upside/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/upside_fy2027_revenue:upside/caseNoneupside
/operating_model/cells/upside_fy2027_revenue:upside/formula/opNonesum
/operating_model/cells/upside_fy2027_revenue:upside/formula/refs/0Noneupside_2027q1_revenue
/operating_model/cells/upside_fy2027_revenue:upside/formula/refs/1Noneupside_2027q2_revenue
/operating_model/cells/upside_fy2027_revenue:upside/formula/refs/2Noneupside_2027q3_revenue
/operating_model/cells/upside_fy2027_revenue:upside/formula/refs/3Noneupside_2027q4_revenue
/operating_model/cells/upside_fy2027_revenue:upside/idNoneupside_fy2027_revenue
/operating_model/cells/upside_fy2027_revenue:upside/kindNonederived
/operating_model/cells/upside_fy2027_revenue:upside/labelNoneTotal revenue ($M)
/operating_model/cells/upside_fy2027_revenue:upside/periodNoneFY2027
/operating_model/cells/upside_fy2027_revenue:upside/unitNoneUSD_millions
/operating_model/cells/upside_fy2027_revenue:upside/valueNone509.8456
/operating_model/cells/upside_fy2027_stockpile_revenue:upside/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/upside_fy2027_stockpile_revenue:upside/caseNoneupside
/operating_model/cells/upside_fy2027_stockpile_revenue:upside/formula/opNonesum
/operating_model/cells/upside_fy2027_stockpile_revenue:upside/formula/refs/0Noneupside_2027q1_stockpile_revenue
/operating_model/cells/upside_fy2027_stockpile_revenue:upside/formula/refs/1Noneupside_2027q2_stockpile_revenue
/operating_model/cells/upside_fy2027_stockpile_revenue:upside/formula/refs/2Noneupside_2027q3_stockpile_revenue
/operating_model/cells/upside_fy2027_stockpile_revenue:upside/formula/refs/3Noneupside_2027q4_stockpile_revenue
/operating_model/cells/upside_fy2027_stockpile_revenue:upside/idNoneupside_fy2027_stockpile_revenue
/operating_model/cells/upside_fy2027_stockpile_revenue:upside/kindNonederived
/operating_model/cells/upside_fy2027_stockpile_revenue:upside/labelNoneAccepted stockpile deliveries ($M)
/operating_model/cells/upside_fy2027_stockpile_revenue:upside/periodNoneFY2027
/operating_model/cells/upside_fy2027_stockpile_revenue:upside/unitNoneUSD_millions
/operating_model/cells/upside_fy2027_stockpile_revenue:upside/valueNone85.0
/operating_model/cells/upside_fy2027_strategic_cash:upside/basisNoneReported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters.
/operating_model/cells/upside_fy2027_strategic_cash:upside/caseNoneupside
/operating_model/cells/upside_fy2027_strategic_cash:upside/formula/opNonesum
/operating_model/cells/upside_fy2027_strategic_cash:upside/formula/refs/0Noneupside_2027q1_strategic_cash
/operating_model/cells/upside_fy2027_strategic_cash:upside/formula/refs/1Noneupside_2027q2_strategic_cash
/operating_model/cells/upside_fy2027_strategic_cash:upside/formula/refs/2Noneupside_2027q3_strategic_cash
/operating_model/cells/upside_fy2027_strategic_cash:upside/formula/refs/3Noneupside_2027q4_strategic_cash
/operating_model/cells/upside_fy2027_strategic_cash:upside/idNoneupside_fy2027_strategic_cash
/operating_model/cells/upside_fy2027_strategic_cash:upside/kindNonederived
/operating_model/cells/upside_fy2027_strategic_cash:upside/labelNonePrepayments minority/acquisition cash ($M)
/operating_model/cells/upside_fy2027_strategic_cash:upside/periodNoneFY2027
/operating_model/cells/upside_fy2027_strategic_cash:upside/unitNoneUSD_millions
/operating_model/cells/upside_fy2027_strategic_cash:upside/valueNone14.655000000000001
/operating_model/highlights/0Noneh1_revenue
/operating_model/highlights/1Noneh1_inventory_use
/operating_model/highlights/10Nonestockpile_ceiling
/operating_model/highlights/11Nonestockpile_minimum
/operating_model/highlights/12Nonedomestic_investment
/operating_model/highlights/13Nonespringer_initial
/operating_model/highlights/14Nonespringer_prepayment_capacity
/operating_model/highlights/15Noneh1_award_withholding
/operating_model/highlights/16Nonebonus_cap
/operating_model/highlights/2Noneh1_cfo
/operating_model/highlights/3Noneh1_capex
/operating_model/highlights/4Noneh1_cash_after_investing
/operating_model/highlights/5Nonecash
/operating_model/highlights/6Nonebacklog
/operating_model/highlights/7Nonepreferred_received
/operating_model/highlights/8Nonepreferred_remaining
/operating_model/highlights/9Nonepreferred_rate
/operating_model/limitations/0NoneSeptember 14 initial preferred funding of $200M was received. Remaining $250M is conditional, in up to $50M tranches available at six-month intervals; congressional authorization, appropriations and other conditions remain relevant.
/operating_model/limitations/1NonePreferred dividends accrue at 5.5%, compound quarterly and are payable in kind. Warrants cover up to 19.9% post-transaction ownership. Redemption and warrant-linked reductions require a full ownership waterfall; this model tracks PIK before those adjustments, not common equity value.
/operating_model/limitations/2NoneThe $2B stockpile ceiling is not backlog recognized as revenue. The $150M minimum is funded commitment over a five-year ordering period, subject to accepted delivery orders; materials may be delivered within 48 months of each order. Desk sales begin only after assumed incremental supply.
/operating_model/limitations/3NoneSeptember German asset acquisition remains conditional with Q1 calendar 2027 closing expected. The price includes negative EUR18M, pension assets less obligations, EUR1M restructuring prepayment and working-capital adjustment against EUR3.875M. No fixed final purchase price or receipt is asserted.
/operating_model/limitations/4NoneMetal-price pass-through can inflate revenue and inventory funding without equal margin growth. Q2 management attributed about 55% of revenue growth to net demand and the balance to raw material pricing; this model independently tests incremental pass-through.
/operating_model/limitations/5NoneThe controlled Springer JV is consolidated in the forward scenario, so internal capital contributions are eliminated; only modeled external plant cash is counted as capex. Separate raw-material prepayments and Blue Moon minority shares are additional cash deployment.
/operating_model/limitations/6NoneBlue Moon CAD35M investment is a binding commitment; modeled USD settlement depends on assumed FX. Government money is earmarked for project purposes and does not become free cash for common owners.
/operating_model/limitations/7NoneH1 capex was reported net of government capital grants. Historical supplement corrects fiscal labels, adds reported July cash and sources net-capex treatment; missing historical quarters remain unavailable, not zero.
/operating_model/limitations/8NoneForecast excludes precise preferred redemption, debt/lease principal, equity-award withholding, full acquisition working-capital settlement and discretionary investments. Cash after funding is a period cash-flow proxy before those claims, not ending unrestricted cash.
/operating_model/limitations/9NoneFiscal quarter dates use the company's 52/53-week calendar convention, with future dates estimated. All delivery, inventory, investment and German closing cases are desk assumptions; no full-year earnings guidance is asserted.
/operating_model/methodNoneSeparate legacy demand from incremental metal-price pass-through, acquired German operations and future stockpile deliveries. Calculate gross profit after matched input costs, then operating and cash costs including inventory. Model the announced domestic/JV build, raw-material prepayments and minority investment separately. Show initial preferred proceeds, conditional semiannual tranches and compounding PIK claims without calling them sales. Explicitly model a conditional German purchase-price sensitivity rather than treating the negative fixed component as free cash.
/operating_model/metrics/capexNoneNet cash PP&E including controlled JV ($M)
/operating_model/metrics/cash_after_fundingNoneCash after preferred funding ($M)
/operating_model/metrics/cash_after_investingNoneCash after business investing ($M)
/operating_model/metrics/cfoNoneOperating cash flow proxy ($M)
/operating_model/metrics/core_revenueNoneCore and acquired component revenue ($M)
/operating_model/metrics/gross_profitNoneGross profit proxy ($M)
/operating_model/metrics/operating_incomeNoneOperating income proxy ($M)
/operating_model/metrics/preferred_fundingNonePreferred funding cash ($M)
/operating_model/metrics/preferred_pikNonePreferred PIK economic accrual ($M)
/operating_model/metrics/revenueNoneTotal revenue ($M)
/operating_model/metrics/stockpile_revenueNoneAccepted stockpile deliveries ($M)
/operating_model/metrics/strategic_cashNonePrepayments minority/acquisition cash ($M)
/operating_model/outputs/2026Q3:base/caseNonebase
/operating_model/outputs/2026Q3:base/frequencyNonequarter
/operating_model/outputs/2026Q3:base/metrics/capexNonebase_2026q3_capex
/operating_model/outputs/2026Q3:base/metrics/cash_after_fundingNonebase_2026q3_cash_after_funding
/operating_model/outputs/2026Q3:base/metrics/cash_after_investingNonebase_2026q3_cash_after_investing
/operating_model/outputs/2026Q3:base/metrics/cfoNonebase_2026q3_cfo
/operating_model/outputs/2026Q3:base/metrics/core_revenueNonebase_2026q3_core_revenue
/operating_model/outputs/2026Q3:base/metrics/gross_profitNonebase_2026q3_gross_profit
/operating_model/outputs/2026Q3:base/metrics/operating_incomeNonebase_2026q3_operating_income
/operating_model/outputs/2026Q3:base/metrics/preferred_fundingNonebase_2026q3_preferred_funding
/operating_model/outputs/2026Q3:base/metrics/preferred_pikNonebase_2026q3_preferred_pik
/operating_model/outputs/2026Q3:base/metrics/revenueNonebase_2026q3_revenue
/operating_model/outputs/2026Q3:base/metrics/stockpile_revenueNonebase_2026q3_stockpile_revenue
/operating_model/outputs/2026Q3:base/metrics/strategic_cashNonebase_2026q3_strategic_cash
/operating_model/outputs/2026Q3:base/periodNone2026Q3
/operating_model/outputs/2026Q3:base/period_endNone2026-10-02
/operating_model/outputs/2026Q3:base/values/capexNone15.0
/operating_model/outputs/2026Q3:base/values/cash_after_fundingNone171.2302625
/operating_model/outputs/2026Q3:base/values/cash_after_investingNone-28.769737499999998
/operating_model/outputs/2026Q3:base/values/cfoNone-13.769737499999998
/operating_model/outputs/2026Q3:base/values/core_revenueNone77.72105
/operating_model/outputs/2026Q3:base/values/gross_profitNone17.4302625
/operating_model/outputs/2026Q3:base/values/operating_incomeNone1.4302625000000013
/operating_model/outputs/2026Q3:base/values/preferred_fundingNone200.0
/operating_model/outputs/2026Q3:base/values/preferred_pikNone0.5741758241758242
/operating_model/outputs/2026Q3:base/values/revenueNone77.72105
/operating_model/outputs/2026Q3:base/values/stockpile_revenueNone0.0
/operating_model/outputs/2026Q3:base/values/strategic_cashNone0.0
/operating_model/outputs/2026Q3:downside/caseNonedownside
/operating_model/outputs/2026Q3:downside/frequencyNonequarter
/operating_model/outputs/2026Q3:downside/metrics/capexNonedownside_2026q3_capex
/operating_model/outputs/2026Q3:downside/metrics/cash_after_fundingNonedownside_2026q3_cash_after_funding
/operating_model/outputs/2026Q3:downside/metrics/cash_after_investingNonedownside_2026q3_cash_after_investing
/operating_model/outputs/2026Q3:downside/metrics/cfoNonedownside_2026q3_cfo
/operating_model/outputs/2026Q3:downside/metrics/core_revenueNonedownside_2026q3_core_revenue
/operating_model/outputs/2026Q3:downside/metrics/gross_profitNonedownside_2026q3_gross_profit
/operating_model/outputs/2026Q3:downside/metrics/operating_incomeNonedownside_2026q3_operating_income
/operating_model/outputs/2026Q3:downside/metrics/preferred_fundingNonedownside_2026q3_preferred_funding
/operating_model/outputs/2026Q3:downside/metrics/preferred_pikNonedownside_2026q3_preferred_pik
/operating_model/outputs/2026Q3:downside/metrics/revenueNonedownside_2026q3_revenue
/operating_model/outputs/2026Q3:downside/metrics/stockpile_revenueNonedownside_2026q3_stockpile_revenue
/operating_model/outputs/2026Q3:downside/metrics/strategic_cashNonedownside_2026q3_strategic_cash
/operating_model/outputs/2026Q3:downside/periodNone2026Q3
/operating_model/outputs/2026Q3:downside/period_endNone2026-10-02
/operating_model/outputs/2026Q3:downside/values/capexNone15.0
/operating_model/outputs/2026Q3:downside/values/cash_after_fundingNone161.00822
/operating_model/outputs/2026Q3:downside/values/cash_after_investingNone-38.99178
/operating_model/outputs/2026Q3:downside/values/cfoNone-23.99178
/operating_model/outputs/2026Q3:downside/values/core_revenueNone78.401
/operating_model/outputs/2026Q3:downside/values/gross_profitNone14.60822
/operating_model/outputs/2026Q3:downside/values/operating_incomeNone-3.7917799999999993
/operating_model/outputs/2026Q3:downside/values/preferred_fundingNone200.0
/operating_model/outputs/2026Q3:downside/values/preferred_pikNone0.5741758241758242
/operating_model/outputs/2026Q3:downside/values/revenueNone78.401
/operating_model/outputs/2026Q3:downside/values/stockpile_revenueNone0.0
/operating_model/outputs/2026Q3:downside/values/strategic_cashNone0.0
/operating_model/outputs/2026Q3:upside/caseNoneupside
/operating_model/outputs/2026Q3:upside/frequencyNonequarter
/operating_model/outputs/2026Q3:upside/metrics/capexNoneupside_2026q3_capex
/operating_model/outputs/2026Q3:upside/metrics/cash_after_fundingNoneupside_2026q3_cash_after_funding
/operating_model/outputs/2026Q3:upside/metrics/cash_after_investingNoneupside_2026q3_cash_after_investing
/operating_model/outputs/2026Q3:upside/metrics/cfoNoneupside_2026q3_cfo
/operating_model/outputs/2026Q3:upside/metrics/core_revenueNoneupside_2026q3_core_revenue
/operating_model/outputs/2026Q3:upside/metrics/gross_profitNoneupside_2026q3_gross_profit
/operating_model/outputs/2026Q3:upside/metrics/operating_incomeNoneupside_2026q3_operating_income
/operating_model/outputs/2026Q3:upside/metrics/preferred_fundingNoneupside_2026q3_preferred_funding
/operating_model/outputs/2026Q3:upside/metrics/preferred_pikNoneupside_2026q3_preferred_pik
/operating_model/outputs/2026Q3:upside/metrics/revenueNoneupside_2026q3_revenue
/operating_model/outputs/2026Q3:upside/metrics/stockpile_revenueNoneupside_2026q3_stockpile_revenue
/operating_model/outputs/2026Q3:upside/metrics/strategic_cashNoneupside_2026q3_strategic_cash
/operating_model/outputs/2026Q3:upside/periodNone2026Q3
/operating_model/outputs/2026Q3:upside/period_endNone2026-10-02
/operating_model/outputs/2026Q3:upside/values/capexNone15.0
/operating_model/outputs/2026Q3:upside/values/cash_after_fundingNone174.6625316
/operating_model/outputs/2026Q3:upside/values/cash_after_investingNone-25.337468399999995
/operating_model/outputs/2026Q3:upside/values/cfoNone-10.337468399999995
/operating_model/outputs/2026Q3:upside/values/core_revenueNone76.71308
/operating_model/outputs/2026Q3:upside/values/gross_profitNone19.362531600000004
/operating_model/outputs/2026Q3:upside/values/operating_incomeNone3.362531600000004
/operating_model/outputs/2026Q3:upside/values/preferred_fundingNone200.0
/operating_model/outputs/2026Q3:upside/values/preferred_pikNone0.5741758241758242
/operating_model/outputs/2026Q3:upside/values/revenueNone76.71308
/operating_model/outputs/2026Q3:upside/values/stockpile_revenueNone0.0
/operating_model/outputs/2026Q3:upside/values/strategic_cashNone0.0
/operating_model/outputs/2026Q4:base/caseNonebase
/operating_model/outputs/2026Q4:base/frequencyNonequarter
/operating_model/outputs/2026Q4:base/metrics/capexNonebase_2026q4_capex
/operating_model/outputs/2026Q4:base/metrics/cash_after_fundingNonebase_2026q4_cash_after_funding
/operating_model/outputs/2026Q4:base/metrics/cash_after_investingNonebase_2026q4_cash_after_investing
/operating_model/outputs/2026Q4:base/metrics/cfoNonebase_2026q4_cfo
/operating_model/outputs/2026Q4:base/metrics/core_revenueNonebase_2026q4_core_revenue
/operating_model/outputs/2026Q4:base/metrics/gross_profitNonebase_2026q4_gross_profit
/operating_model/outputs/2026Q4:base/metrics/operating_incomeNonebase_2026q4_operating_income
/operating_model/outputs/2026Q4:base/metrics/preferred_fundingNonebase_2026q4_preferred_funding
/operating_model/outputs/2026Q4:base/metrics/preferred_pikNonebase_2026q4_preferred_pik
/operating_model/outputs/2026Q4:base/metrics/revenueNonebase_2026q4_revenue
/operating_model/outputs/2026Q4:base/metrics/stockpile_revenueNonebase_2026q4_stockpile_revenue
/operating_model/outputs/2026Q4:base/metrics/strategic_cashNonebase_2026q4_strategic_cash
/operating_model/outputs/2026Q4:base/periodNone2026Q4
/operating_model/outputs/2026Q4:base/period_endNone2027-01-01
/operating_model/outputs/2026Q4:base/values/capexNone25.0
/operating_model/outputs/2026Q4:base/values/cash_after_fundingNone-94.089725
/operating_model/outputs/2026Q4:base/values/cash_after_investingNone-94.089725
/operating_model/outputs/2026Q4:base/values/cfoNone-18.539725
/operating_model/outputs/2026Q4:base/values/core_revenueNone83.0411
/operating_model/outputs/2026Q4:base/values/gross_profitNone18.260275
/operating_model/outputs/2026Q4:base/values/operating_incomeNone0.4602749999999993
/operating_model/outputs/2026Q4:base/values/preferred_fundingNone0.0
/operating_model/outputs/2026Q4:base/values/preferred_pikNone2.7578949175824174
/operating_model/outputs/2026Q4:base/values/revenueNone83.0411
/operating_model/outputs/2026Q4:base/values/stockpile_revenueNone0.0
/operating_model/outputs/2026Q4:base/values/strategic_cashNone50.55
/operating_model/outputs/2026Q4:downside/caseNonedownside
/operating_model/outputs/2026Q4:downside/frequencyNonequarter
/operating_model/outputs/2026Q4:downside/metrics/capexNonedownside_2026q4_capex
/operating_model/outputs/2026Q4:downside/metrics/cash_after_fundingNonedownside_2026q4_cash_after_funding
/operating_model/outputs/2026Q4:downside/metrics/cash_after_investingNonedownside_2026q4_cash_after_investing
/operating_model/outputs/2026Q4:downside/metrics/cfoNonedownside_2026q4_cfo
/operating_model/outputs/2026Q4:downside/metrics/core_revenueNonedownside_2026q4_core_revenue
/operating_model/outputs/2026Q4:downside/metrics/gross_profitNonedownside_2026q4_gross_profit
/operating_model/outputs/2026Q4:downside/metrics/operating_incomeNonedownside_2026q4_operating_income
/operating_model/outputs/2026Q4:downside/metrics/preferred_fundingNonedownside_2026q4_preferred_funding
/operating_model/outputs/2026Q4:downside/metrics/preferred_pikNonedownside_2026q4_preferred_pik
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/operating_model/outputs/2026Q4:downside/metrics/strategic_cashNonedownside_2026q4_strategic_cash
/operating_model/outputs/2026Q4:downside/periodNone2026Q4
/operating_model/outputs/2026Q4:downside/period_endNone2027-01-01
/operating_model/outputs/2026Q4:downside/values/capexNone30.0
/operating_model/outputs/2026Q4:downside/values/cash_after_fundingNone-111.16961559999999
/operating_model/outputs/2026Q4:downside/values/cash_after_investingNone-111.16961559999999
/operating_model/outputs/2026Q4:downside/values/cfoNone-30.619615599999996
/operating_model/outputs/2026Q4:downside/values/core_revenueNone82.72901999999999
/operating_model/outputs/2026Q4:downside/values/gross_profitNone14.900384399999998
/operating_model/outputs/2026Q4:downside/values/operating_incomeNone-5.5196156
/operating_model/outputs/2026Q4:downside/values/preferred_fundingNone0.0
/operating_model/outputs/2026Q4:downside/values/preferred_pikNone2.7578949175824174
/operating_model/outputs/2026Q4:downside/values/revenueNone82.72901999999999
/operating_model/outputs/2026Q4:downside/values/stockpile_revenueNone0.0
/operating_model/outputs/2026Q4:downside/values/strategic_cashNone50.55
/operating_model/outputs/2026Q4:upside/caseNoneupside
/operating_model/outputs/2026Q4:upside/frequencyNonequarter
/operating_model/outputs/2026Q4:upside/metrics/capexNoneupside_2026q4_capex
/operating_model/outputs/2026Q4:upside/metrics/cash_after_fundingNoneupside_2026q4_cash_after_funding
/operating_model/outputs/2026Q4:upside/metrics/cash_after_investingNoneupside_2026q4_cash_after_investing
/operating_model/outputs/2026Q4:upside/metrics/cfoNoneupside_2026q4_cfo
/operating_model/outputs/2026Q4:upside/metrics/core_revenueNoneupside_2026q4_core_revenue
/operating_model/outputs/2026Q4:upside/metrics/gross_profitNoneupside_2026q4_gross_profit
/operating_model/outputs/2026Q4:upside/metrics/operating_incomeNoneupside_2026q4_operating_income
/operating_model/outputs/2026Q4:upside/metrics/preferred_fundingNoneupside_2026q4_preferred_funding
/operating_model/outputs/2026Q4:upside/metrics/preferred_pikNoneupside_2026q4_preferred_pik
/operating_model/outputs/2026Q4:upside/metrics/revenueNoneupside_2026q4_revenue
/operating_model/outputs/2026Q4:upside/metrics/stockpile_revenueNoneupside_2026q4_stockpile_revenue
/operating_model/outputs/2026Q4:upside/metrics/strategic_cashNoneupside_2026q4_strategic_cash
/operating_model/outputs/2026Q4:upside/periodNone2026Q4
/operating_model/outputs/2026Q4:upside/period_endNone2027-01-01
/operating_model/outputs/2026Q4:upside/values/capexNone30.0
/operating_model/outputs/2026Q4:upside/values/cash_after_fundingNone-94.2324895
/operating_model/outputs/2026Q4:upside/values/cash_after_investingNone-94.2324895
/operating_model/outputs/2026Q4:upside/values/cfoNone-13.682489499999999
/operating_model/outputs/2026Q4:upside/values/core_revenueNone81.36115
/operating_model/outputs/2026Q4:upside/values/gross_profitNone20.6175105
/operating_model/outputs/2026Q4:upside/values/operating_incomeNone2.817510500000001
/operating_model/outputs/2026Q4:upside/values/preferred_fundingNone0.0
/operating_model/outputs/2026Q4:upside/values/preferred_pikNone2.7578949175824174
/operating_model/outputs/2026Q4:upside/values/revenueNone81.36115
/operating_model/outputs/2026Q4:upside/values/stockpile_revenueNone0.0
/operating_model/outputs/2026Q4:upside/values/strategic_cashNone50.55
/operating_model/outputs/2027Q1:base/caseNonebase
/operating_model/outputs/2027Q1:base/frequencyNonequarter
/operating_model/outputs/2027Q1:base/metrics/capexNonebase_2027q1_capex
/operating_model/outputs/2027Q1:base/metrics/cash_after_fundingNonebase_2027q1_cash_after_funding
/operating_model/outputs/2027Q1:base/metrics/cash_after_investingNonebase_2027q1_cash_after_investing
/operating_model/outputs/2027Q1:base/metrics/cfoNonebase_2027q1_cfo
/operating_model/outputs/2027Q1:base/metrics/core_revenueNonebase_2027q1_core_revenue
/operating_model/outputs/2027Q1:base/metrics/gross_profitNonebase_2027q1_gross_profit
/operating_model/outputs/2027Q1:base/metrics/operating_incomeNonebase_2027q1_operating_income
/operating_model/outputs/2027Q1:base/metrics/preferred_fundingNonebase_2027q1_preferred_funding
/operating_model/outputs/2027Q1:base/metrics/preferred_pikNonebase_2027q1_preferred_pik
/operating_model/outputs/2027Q1:base/metrics/revenueNonebase_2027q1_revenue
/operating_model/outputs/2027Q1:base/metrics/stockpile_revenueNonebase_2027q1_stockpile_revenue
/operating_model/outputs/2027Q1:base/metrics/strategic_cashNonebase_2027q1_strategic_cash
/operating_model/outputs/2027Q1:base/periodNone2027Q1
/operating_model/outputs/2027Q1:base/period_endNone2027-04-02
/operating_model/outputs/2027Q1:base/values/capexNone40.0
/operating_model/outputs/2027Q1:base/values/cash_after_fundingNone-14.287212499999995
/operating_model/outputs/2027Q1:base/values/cash_after_investingNone-64.2872125
/operating_model/outputs/2027Q1:base/values/cfoNone-21.949712499999997
/operating_model/outputs/2027Q1:base/values/core_revenueNone88.36115
/operating_model/outputs/2027Q1:base/values/gross_profitNone19.450287499999998
/operating_model/outputs/2027Q1:base/values/operating_incomeNone-0.1497124999999997
/operating_model/outputs/2027Q1:base/values/preferred_fundingNone50.0
/operating_model/outputs/2027Q1:base/values/preferred_pikNone2.9676909726991756
/operating_model/outputs/2027Q1:base/values/revenueNone88.36115
/operating_model/outputs/2027Q1:base/values/stockpile_revenueNone0.0
/operating_model/outputs/2027Q1:base/values/strategic_cashNone2.3375000000000004
/operating_model/outputs/2027Q1:downside/caseNonedownside
/operating_model/outputs/2027Q1:downside/frequencyNonequarter
/operating_model/outputs/2027Q1:downside/metrics/capexNonedownside_2027q1_capex
/operating_model/outputs/2027Q1:downside/metrics/cash_after_fundingNonedownside_2027q1_cash_after_funding
/operating_model/outputs/2027Q1:downside/metrics/cash_after_investingNonedownside_2027q1_cash_after_investing
/operating_model/outputs/2027Q1:downside/metrics/cfoNonedownside_2027q1_cfo
/operating_model/outputs/2027Q1:downside/metrics/core_revenueNonedownside_2027q1_core_revenue
/operating_model/outputs/2027Q1:downside/metrics/gross_profitNonedownside_2027q1_gross_profit
/operating_model/outputs/2027Q1:downside/metrics/operating_incomeNonedownside_2027q1_operating_income
/operating_model/outputs/2027Q1:downside/metrics/preferred_fundingNonedownside_2027q1_preferred_funding
/operating_model/outputs/2027Q1:downside/metrics/preferred_pikNonedownside_2027q1_preferred_pik
/operating_model/outputs/2027Q1:downside/metrics/revenueNonedownside_2027q1_revenue
/operating_model/outputs/2027Q1:downside/metrics/stockpile_revenueNonedownside_2027q1_stockpile_revenue
/operating_model/outputs/2027Q1:downside/metrics/strategic_cashNonedownside_2027q1_strategic_cash
/operating_model/outputs/2027Q1:downside/periodNone2027Q1
/operating_model/outputs/2027Q1:downside/period_endNone2027-04-02
/operating_model/outputs/2027Q1:downside/values/capexNone45.0
/operating_model/outputs/2027Q1:downside/values/cash_after_fundingNone-80.7474512
/operating_model/outputs/2027Q1:downside/values/cash_after_investingNone-80.7474512
/operating_model/outputs/2027Q1:downside/values/cfoNone-35.74745119999999
/operating_model/outputs/2027Q1:downside/values/core_revenueNone84.05704
/operating_model/outputs/2027Q1:downside/values/gross_profitNone15.1925488
/operating_model/outputs/2027Q1:downside/values/operating_incomeNone-7.247451199999997
/operating_model/outputs/2027Q1:downside/values/preferred_fundingNone0.0
/operating_model/outputs/2027Q1:downside/values/preferred_pikNone2.7958159726991756
/operating_model/outputs/2027Q1:downside/values/revenueNone84.05704
/operating_model/outputs/2027Q1:downside/values/stockpile_revenueNone0.0
/operating_model/outputs/2027Q1:downside/values/strategic_cashNone0.0
/operating_model/outputs/2027Q1:upside/caseNoneupside
/operating_model/outputs/2027Q1:upside/frequencyNonequarter
/operating_model/outputs/2027Q1:upside/metrics/capexNoneupside_2027q1_capex
/operating_model/outputs/2027Q1:upside/metrics/cash_after_fundingNoneupside_2027q1_cash_after_funding
/operating_model/outputs/2027Q1:upside/metrics/cash_after_investingNoneupside_2027q1_cash_after_investing
/operating_model/outputs/2027Q1:upside/metrics/cfoNoneupside_2027q1_cfo
/operating_model/outputs/2027Q1:upside/metrics/core_revenueNoneupside_2027q1_core_revenue
/operating_model/outputs/2027Q1:upside/metrics/gross_profitNoneupside_2027q1_gross_profit
/operating_model/outputs/2027Q1:upside/metrics/operating_incomeNoneupside_2027q1_operating_income
/operating_model/outputs/2027Q1:upside/metrics/preferred_fundingNoneupside_2027q1_preferred_funding
/operating_model/outputs/2027Q1:upside/metrics/preferred_pikNoneupside_2027q1_preferred_pik
/operating_model/outputs/2027Q1:upside/metrics/revenueNoneupside_2027q1_revenue
/operating_model/outputs/2027Q1:upside/metrics/stockpile_revenueNoneupside_2027q1_stockpile_revenue
/operating_model/outputs/2027Q1:upside/metrics/strategic_cashNoneupside_2027q1_strategic_cash
/operating_model/outputs/2027Q1:upside/periodNone2027Q1
/operating_model/outputs/2027Q1:upside/period_endNone2027-04-02
/operating_model/outputs/2027Q1:upside/values/capexNone45.0
/operating_model/outputs/2027Q1:upside/values/cash_after_fundingNone-3.504662499999995
/operating_model/outputs/2027Q1:upside/values/cash_after_investingNone-53.504662499999995
/operating_model/outputs/2027Q1:upside/values/cfoNone-14.849662499999996
/operating_model/outputs/2027Q1:upside/values/core_revenueNone90.00125
/operating_model/outputs/2027Q1:upside/values/gross_profitNone23.5503375
/operating_model/outputs/2027Q1:upside/values/operating_incomeNone3.9503375000000034
/operating_model/outputs/2027Q1:upside/values/preferred_fundingNone50.0
/operating_model/outputs/2027Q1:upside/values/preferred_pikNone2.9676909726991756
/operating_model/outputs/2027Q1:upside/values/revenueNone95.00125
/operating_model/outputs/2027Q1:upside/values/stockpile_revenueNone5.0
/operating_model/outputs/2027Q1:upside/values/strategic_cashNone-6.345000000000001
/operating_model/outputs/2027Q2:base/caseNonebase
/operating_model/outputs/2027Q2:base/frequencyNonequarter
/operating_model/outputs/2027Q2:base/metrics/capexNonebase_2027q2_capex
/operating_model/outputs/2027Q2:base/metrics/cash_after_fundingNonebase_2027q2_cash_after_funding
/operating_model/outputs/2027Q2:base/metrics/cash_after_investingNonebase_2027q2_cash_after_investing
/operating_model/outputs/2027Q2:base/metrics/cfoNonebase_2027q2_cfo
/operating_model/outputs/2027Q2:base/metrics/core_revenueNonebase_2027q2_core_revenue
/operating_model/outputs/2027Q2:base/metrics/gross_profitNonebase_2027q2_gross_profit
/operating_model/outputs/2027Q2:base/metrics/operating_incomeNonebase_2027q2_operating_income
/operating_model/outputs/2027Q2:base/metrics/preferred_fundingNonebase_2027q2_preferred_funding
/operating_model/outputs/2027Q2:base/metrics/preferred_pikNonebase_2027q2_preferred_pik
/operating_model/outputs/2027Q2:base/metrics/revenueNonebase_2027q2_revenue
/operating_model/outputs/2027Q2:base/metrics/stockpile_revenueNonebase_2027q2_stockpile_revenue
/operating_model/outputs/2027Q2:base/metrics/strategic_cashNonebase_2027q2_strategic_cash
/operating_model/outputs/2027Q2:base/periodNone2027Q2
/operating_model/outputs/2027Q2:base/period_endNone2027-07-02
/operating_model/outputs/2027Q2:base/values/capexNone45.0
/operating_model/outputs/2027Q2:base/values/cash_after_fundingNone-95.707695
/operating_model/outputs/2027Q2:base/values/cash_after_investingNone-95.707695
/operating_model/outputs/2027Q2:base/values/cfoNone-25.707695
/operating_model/outputs/2027Q2:base/values/core_revenueNone97.00922
/operating_model/outputs/2027Q2:base/values/gross_profitNone22.292305000000002
/operating_model/outputs/2027Q2:base/values/operating_incomeNone-2.1076949999999997
/operating_model/outputs/2027Q2:base/values/preferred_fundingNone0.0
/operating_model/outputs/2027Q2:base/values/preferred_pikNone3.5241217235737894
/operating_model/outputs/2027Q2:base/values/revenueNone102.00922
/operating_model/outputs/2027Q2:base/values/stockpile_revenueNone5.0
/operating_model/outputs/2027Q2:base/values/strategic_cashNone25.0
/operating_model/outputs/2027Q2:downside/caseNonedownside
/operating_model/outputs/2027Q2:downside/frequencyNonequarter
/operating_model/outputs/2027Q2:downside/metrics/capexNonedownside_2027q2_capex
/operating_model/outputs/2027Q2:downside/metrics/cash_after_fundingNonedownside_2027q2_cash_after_funding
/operating_model/outputs/2027Q2:downside/metrics/cash_after_investingNonedownside_2027q2_cash_after_investing
/operating_model/outputs/2027Q2:downside/metrics/cfoNonedownside_2027q2_cfo
/operating_model/outputs/2027Q2:downside/metrics/core_revenueNonedownside_2027q2_core_revenue
/operating_model/outputs/2027Q2:downside/metrics/gross_profitNonedownside_2027q2_gross_profit
/operating_model/outputs/2027Q2:downside/metrics/operating_incomeNonedownside_2027q2_operating_income
/operating_model/outputs/2027Q2:downside/metrics/preferred_fundingNonedownside_2027q2_preferred_funding
/operating_model/outputs/2027Q2:downside/metrics/preferred_pikNonedownside_2027q2_preferred_pik
/operating_model/outputs/2027Q2:downside/metrics/revenueNonedownside_2027q2_revenue
/operating_model/outputs/2027Q2:downside/metrics/stockpile_revenueNonedownside_2027q2_stockpile_revenue
/operating_model/outputs/2027Q2:downside/metrics/strategic_cashNonedownside_2027q2_strategic_cash
/operating_model/outputs/2027Q2:downside/periodNone2027Q2
/operating_model/outputs/2027Q2:downside/period_endNone2027-07-02
/operating_model/outputs/2027Q2:downside/values/capexNone50.0
/operating_model/outputs/2027Q2:downside/values/cash_after_fundingNone-155.93295460000002
/operating_model/outputs/2027Q2:downside/values/cash_after_investingNone-155.93295460000002
/operating_model/outputs/2027Q2:downside/values/cfoNone-41.689204600000004
/operating_model/outputs/2027Q2:downside/values/core_revenueNone86.04907
/operating_model/outputs/2027Q2:downside/values/gross_profitNone16.1707954
/operating_model/outputs/2027Q2:downside/values/operating_incomeNone-11.289204600000001
/operating_model/outputs/2027Q2:downside/values/preferred_fundingNone0.0
/operating_model/outputs/2027Q2:downside/values/preferred_pikNone2.8342584423237893
/operating_model/outputs/2027Q2:downside/values/revenueNone86.04907
/operating_model/outputs/2027Q2:downside/values/stockpile_revenueNone0.0
/operating_model/outputs/2027Q2:downside/values/strategic_cashNone64.24375
/operating_model/outputs/2027Q2:upside/caseNoneupside
/operating_model/outputs/2027Q2:upside/frequencyNonequarter
/operating_model/outputs/2027Q2:upside/metrics/capexNoneupside_2027q2_capex
/operating_model/outputs/2027Q2:upside/metrics/cash_after_fundingNoneupside_2027q2_cash_after_funding
/operating_model/outputs/2027Q2:upside/metrics/cash_after_investingNoneupside_2027q2_cash_after_investing
/operating_model/outputs/2027Q2:upside/metrics/cfoNoneupside_2027q2_cfo
/operating_model/outputs/2027Q2:upside/metrics/core_revenueNoneupside_2027q2_core_revenue
/operating_model/outputs/2027Q2:upside/metrics/gross_profitNoneupside_2027q2_gross_profit
/operating_model/outputs/2027Q2:upside/metrics/operating_incomeNoneupside_2027q2_operating_income
/operating_model/outputs/2027Q2:upside/metrics/preferred_fundingNoneupside_2027q2_preferred_funding
/operating_model/outputs/2027Q2:upside/metrics/preferred_pikNoneupside_2027q2_preferred_pik
/operating_model/outputs/2027Q2:upside/metrics/revenueNoneupside_2027q2_revenue
/operating_model/outputs/2027Q2:upside/metrics/stockpile_revenueNoneupside_2027q2_stockpile_revenue
/operating_model/outputs/2027Q2:upside/metrics/strategic_cashNoneupside_2027q2_strategic_cash
/operating_model/outputs/2027Q2:upside/periodNone2027Q2
/operating_model/outputs/2027Q2:upside/period_endNone2027-07-02
/operating_model/outputs/2027Q2:upside/values/capexNone55.0
/operating_model/outputs/2027Q2:upside/values/cash_after_fundingNone-98.19683549999999
/operating_model/outputs/2027Q2:upside/values/cash_after_investingNone-98.19683549999999
/operating_model/outputs/2027Q2:upside/values/cfoNone-18.1968355
/operating_model/outputs/2027Q2:upside/values/core_revenueNone103.64135
/operating_model/outputs/2027Q2:upside/values/gross_profitNone27.803164500000005
/operating_model/outputs/2027Q2:upside/values/operating_incomeNone3.4031645000000026
/operating_model/outputs/2027Q2:upside/values/preferred_fundingNone0.0
/operating_model/outputs/2027Q2:upside/values/preferred_pikNone3.5241217235737894
/operating_model/outputs/2027Q2:upside/values/revenueNone118.64135
/operating_model/outputs/2027Q2:upside/values/stockpile_revenueNone15.0
/operating_model/outputs/2027Q2:upside/values/strategic_cashNone25.0
/operating_model/outputs/FY2026:base/caseNonebase
/operating_model/outputs/FY2026:base/frequencyNoneyear
/operating_model/outputs/FY2026:base/metrics/capexNonebase_fy2026_capex
/operating_model/outputs/FY2026:base/metrics/cash_after_fundingNonebase_fy2026_cash_after_funding
/operating_model/outputs/FY2026:base/metrics/cash_after_investingNonebase_fy2026_cash_after_investing
/operating_model/outputs/FY2026:base/metrics/cfoNonebase_fy2026_cfo
/operating_model/outputs/FY2026:base/metrics/core_revenueNonebase_fy2026_core_revenue
/operating_model/outputs/FY2026:base/metrics/gross_profitNonebase_fy2026_gross_profit
/operating_model/outputs/FY2026:base/metrics/operating_incomeNonebase_fy2026_operating_income
/operating_model/outputs/FY2026:base/metrics/preferred_fundingNonebase_fy2026_preferred_funding
/operating_model/outputs/FY2026:base/metrics/preferred_pikNonebase_fy2026_preferred_pik
/operating_model/outputs/FY2026:base/metrics/revenueNonebase_fy2026_revenue
/operating_model/outputs/FY2026:base/metrics/stockpile_revenueNonebase_fy2026_stockpile_revenue
/operating_model/outputs/FY2026:base/metrics/strategic_cashNonebase_fy2026_strategic_cash
/operating_model/outputs/FY2026:base/periodNoneFY2026
/operating_model/outputs/FY2026:base/period_endNone2027-01-01
/operating_model/outputs/FY2026:base/values/capexNone43.141
/operating_model/outputs/FY2026:base/values/cash_after_fundingNone65.0015375
/operating_model/outputs/FY2026:base/values/cash_after_investingNone-134.99846250000002
/operating_model/outputs/FY2026:base/values/cfoNone-39.8814625
/operating_model/outputs/FY2026:base/values/core_revenueNone283.17015000000004
/operating_model/outputs/FY2026:base/values/gross_profitNone64.1485375
/operating_model/outputs/FY2026:base/values/operating_incomeNone-3.874462499999999
/operating_model/outputs/FY2026:base/values/preferred_fundingNone200.0
/operating_model/outputs/FY2026:base/values/preferred_pikNone3.332070741758242
/operating_model/outputs/FY2026:base/values/revenueNone283.17015000000004
/operating_model/outputs/FY2026:base/values/stockpile_revenueNone0.0
/operating_model/outputs/FY2026:base/values/strategic_cashNone51.976
/operating_model/outputs/FY2026:downside/caseNonedownside
/operating_model/outputs/FY2026:downside/frequencyNoneyear
/operating_model/outputs/FY2026:downside/metrics/capexNonedownside_fy2026_capex
/operating_model/outputs/FY2026:downside/metrics/cash_after_fundingNonedownside_fy2026_cash_after_funding
/operating_model/outputs/FY2026:downside/metrics/cash_after_investingNonedownside_fy2026_cash_after_investing
/operating_model/outputs/FY2026:downside/metrics/cfoNonedownside_fy2026_cfo
/operating_model/outputs/FY2026:downside/metrics/core_revenueNonedownside_fy2026_core_revenue
/operating_model/outputs/FY2026:downside/metrics/gross_profitNonedownside_fy2026_gross_profit
/operating_model/outputs/FY2026:downside/metrics/operating_incomeNonedownside_fy2026_operating_income
/operating_model/outputs/FY2026:downside/metrics/preferred_fundingNonedownside_fy2026_preferred_funding
/operating_model/outputs/FY2026:downside/metrics/preferred_pikNonedownside_fy2026_preferred_pik
/operating_model/outputs/FY2026:downside/metrics/revenueNonedownside_fy2026_revenue
/operating_model/outputs/FY2026:downside/metrics/stockpile_revenueNonedownside_fy2026_stockpile_revenue
/operating_model/outputs/FY2026:downside/metrics/strategic_cashNonedownside_fy2026_strategic_cash
/operating_model/outputs/FY2026:downside/periodNoneFY2026
/operating_model/outputs/FY2026:downside/period_endNone2027-01-01
/operating_model/outputs/FY2026:downside/values/capexNone48.141
/operating_model/outputs/FY2026:downside/values/cash_after_fundingNone37.6996044
/operating_model/outputs/FY2026:downside/values/cash_after_investingNone-162.3003956
/operating_model/outputs/FY2026:downside/values/cfoNone-62.1833956
/operating_model/outputs/FY2026:downside/values/core_revenueNone283.53801999999996
/operating_model/outputs/FY2026:downside/values/gross_profitNone57.9666044
/operating_model/outputs/FY2026:downside/values/operating_incomeNone-15.0763956
/operating_model/outputs/FY2026:downside/values/preferred_fundingNone200.0
/operating_model/outputs/FY2026:downside/values/preferred_pikNone3.332070741758242
/operating_model/outputs/FY2026:downside/values/revenueNone283.53801999999996
/operating_model/outputs/FY2026:downside/values/stockpile_revenueNone0.0
/operating_model/outputs/FY2026:downside/values/strategic_cashNone51.976
/operating_model/outputs/FY2026:upside/caseNoneupside
/operating_model/outputs/FY2026:upside/frequencyNoneyear
/operating_model/outputs/FY2026:upside/metrics/capexNoneupside_fy2026_capex
/operating_model/outputs/FY2026:upside/metrics/cash_after_fundingNoneupside_fy2026_cash_after_funding
/operating_model/outputs/FY2026:upside/metrics/cash_after_investingNoneupside_fy2026_cash_after_investing
/operating_model/outputs/FY2026:upside/metrics/cfoNoneupside_fy2026_cfo
/operating_model/outputs/FY2026:upside/metrics/core_revenueNoneupside_fy2026_core_revenue
/operating_model/outputs/FY2026:upside/metrics/gross_profitNoneupside_fy2026_gross_profit
/operating_model/outputs/FY2026:upside/metrics/operating_incomeNoneupside_fy2026_operating_income
/operating_model/outputs/FY2026:upside/metrics/preferred_fundingNoneupside_fy2026_preferred_funding
/operating_model/outputs/FY2026:upside/metrics/preferred_pikNoneupside_fy2026_preferred_pik
/operating_model/outputs/FY2026:upside/metrics/revenueNoneupside_fy2026_revenue
/operating_model/outputs/FY2026:upside/metrics/stockpile_revenueNoneupside_fy2026_stockpile_revenue
/operating_model/outputs/FY2026:upside/metrics/strategic_cashNoneupside_fy2026_strategic_cash
/operating_model/outputs/FY2026:upside/periodNoneFY2026
/operating_model/outputs/FY2026:upside/period_endNone2027-01-01
/operating_model/outputs/FY2026:upside/values/capexNone48.141
/operating_model/outputs/FY2026:upside/values/cash_after_fundingNone68.29104209999998
/operating_model/outputs/FY2026:upside/values/cash_after_investingNone-131.7089579
/operating_model/outputs/FY2026:upside/values/cfoNone-31.591957899999993
/operating_model/outputs/FY2026:upside/values/core_revenueNone280.48223
/operating_model/outputs/FY2026:upside/values/gross_profitNone68.4380421
/operating_model/outputs/FY2026:upside/values/operating_incomeNone0.4150421000000053
/operating_model/outputs/FY2026:upside/values/preferred_fundingNone200.0
/operating_model/outputs/FY2026:upside/values/preferred_pikNone3.332070741758242
/operating_model/outputs/FY2026:upside/values/revenueNone280.48223
/operating_model/outputs/FY2026:upside/values/stockpile_revenueNone0.0
/operating_model/outputs/FY2026:upside/values/strategic_cashNone51.976
/operating_model/outputs/FY2027:base/caseNonebase
/operating_model/outputs/FY2027:base/frequencyNoneyear
/operating_model/outputs/FY2027:base/metrics/capexNonebase_fy2027_capex
/operating_model/outputs/FY2027:base/metrics/cash_after_fundingNonebase_fy2027_cash_after_funding
/operating_model/outputs/FY2027:base/metrics/cash_after_investingNonebase_fy2027_cash_after_investing
/operating_model/outputs/FY2027:base/metrics/cfoNonebase_fy2027_cfo
/operating_model/outputs/FY2027:base/metrics/core_revenueNonebase_fy2027_core_revenue
/operating_model/outputs/FY2027:base/metrics/gross_profitNonebase_fy2027_gross_profit
/operating_model/outputs/FY2027:base/metrics/operating_incomeNonebase_fy2027_operating_income
/operating_model/outputs/FY2027:base/metrics/preferred_fundingNonebase_fy2027_preferred_funding
/operating_model/outputs/FY2027:base/metrics/preferred_pikNonebase_fy2027_preferred_pik
/operating_model/outputs/FY2027:base/metrics/revenueNonebase_fy2027_revenue
/operating_model/outputs/FY2027:base/metrics/stockpile_revenueNonebase_fy2027_stockpile_revenue
/operating_model/outputs/FY2027:base/metrics/strategic_cashNonebase_fy2027_strategic_cash
/operating_model/outputs/FY2027:base/periodNoneFY2027
/operating_model/outputs/FY2027:base/period_endNone2027-12-31
/operating_model/outputs/FY2027:base/values/capexNone190.0
/operating_model/outputs/FY2027:base/values/cash_after_fundingNone-211.74825499999997
/operating_model/outputs/FY2027:base/values/cash_after_investingNone-311.74825500000003
/operating_model/outputs/FY2027:base/values/cfoNone-98.41075500000001
/operating_model/outputs/FY2027:base/values/core_revenueNone390.67698
/operating_model/outputs/FY2027:base/values/gross_profitNone93.289245
/operating_model/outputs/FY2027:base/values/operating_incomeNone1.0892450000000018
/operating_model/outputs/FY2027:base/values/preferred_fundingNone100.0
/operating_model/outputs/FY2027:base/values/preferred_pikNone14.547830725031325
/operating_model/outputs/FY2027:base/values/revenueNone435.67698
/operating_model/outputs/FY2027:base/values/stockpile_revenueNone45.0
/operating_model/outputs/FY2027:base/values/strategic_cashNone23.3375
/operating_model/outputs/FY2027:downside/caseNonedownside
/operating_model/outputs/FY2027:downside/frequencyNoneyear
/operating_model/outputs/FY2027:downside/metrics/capexNonedownside_fy2027_capex
/operating_model/outputs/FY2027:downside/metrics/cash_after_fundingNonedownside_fy2027_cash_after_funding
/operating_model/outputs/FY2027:downside/metrics/cash_after_investingNonedownside_fy2027_cash_after_investing
/operating_model/outputs/FY2027:downside/metrics/cfoNonedownside_fy2027_cfo
/operating_model/outputs/FY2027:downside/metrics/core_revenueNonedownside_fy2027_core_revenue
/operating_model/outputs/FY2027:downside/metrics/gross_profitNonedownside_fy2027_gross_profit
/operating_model/outputs/FY2027:downside/metrics/operating_incomeNonedownside_fy2027_operating_income
/operating_model/outputs/FY2027:downside/metrics/preferred_fundingNonedownside_fy2027_preferred_funding
/operating_model/outputs/FY2027:downside/metrics/preferred_pikNonedownside_fy2027_preferred_pik
/operating_model/outputs/FY2027:downside/metrics/revenueNonedownside_fy2027_revenue
/operating_model/outputs/FY2027:downside/metrics/stockpile_revenueNonedownside_fy2027_stockpile_revenue
/operating_model/outputs/FY2027:downside/metrics/strategic_cashNonedownside_fy2027_strategic_cash
/operating_model/outputs/FY2027:downside/periodNoneFY2027
/operating_model/outputs/FY2027:downside/period_endNone2027-12-31
/operating_model/outputs/FY2027:downside/values/capexNone210.0
/operating_model/outputs/FY2027:downside/values/cash_after_fundingNone-434.2701574
/operating_model/outputs/FY2027:downside/values/cash_after_investingNone-434.2701574
/operating_model/outputs/FY2027:downside/values/cfoNone-164.02640739999998
/operating_model/outputs/FY2027:downside/values/core_revenueNone347.51633
/operating_model/outputs/FY2027:downside/values/gross_profitNone67.7535926
/operating_model/outputs/FY2027:downside/values/operating_incomeNone-37.12640739999999
/operating_model/outputs/FY2027:downside/values/preferred_fundingNone0.0
/operating_model/outputs/FY2027:downside/values/preferred_pikNone11.416040312403153
/operating_model/outputs/FY2027:downside/values/revenueNone362.51633
/operating_model/outputs/FY2027:downside/values/stockpile_revenueNone15.0
/operating_model/outputs/FY2027:downside/values/strategic_cashNone60.243750000000006
/operating_model/outputs/FY2027:upside/caseNoneupside
/operating_model/outputs/FY2027:upside/frequencyNoneyear
/operating_model/outputs/FY2027:upside/metrics/capexNoneupside_fy2027_capex
/operating_model/outputs/FY2027:upside/metrics/cash_after_fundingNoneupside_fy2027_cash_after_funding
/operating_model/outputs/FY2027:upside/metrics/cash_after_investingNoneupside_fy2027_cash_after_investing
/operating_model/outputs/FY2027:upside/metrics/cfoNoneupside_fy2027_cfo
/operating_model/outputs/FY2027:upside/metrics/core_revenueNoneupside_fy2027_core_revenue
/operating_model/outputs/FY2027:upside/metrics/gross_profitNoneupside_fy2027_gross_profit
/operating_model/outputs/FY2027:upside/metrics/operating_incomeNoneupside_fy2027_operating_income
/operating_model/outputs/FY2027:upside/metrics/preferred_fundingNoneupside_fy2027_preferred_funding
/operating_model/outputs/FY2027:upside/metrics/preferred_pikNoneupside_fy2027_preferred_pik
/operating_model/outputs/FY2027:upside/metrics/revenueNoneupside_fy2027_revenue
/operating_model/outputs/FY2027:upside/metrics/stockpile_revenueNoneupside_fy2027_stockpile_revenue
/operating_model/outputs/FY2027:upside/metrics/strategic_cashNoneupside_fy2027_strategic_cash
/operating_model/outputs/FY2027:upside/periodNoneFY2027
/operating_model/outputs/FY2027:upside/period_endNone2027-12-31
/operating_model/outputs/FY2027:upside/values/capexNone225.0
/operating_model/outputs/FY2027:upside/values/cash_after_fundingNone-205.236688
/operating_model/outputs/FY2027:upside/values/cash_after_investingNone-305.23668799999996
/operating_model/outputs/FY2027:upside/values/cfoNone-65.581688
/operating_model/outputs/FY2027:upside/values/core_revenueNone424.8456
/operating_model/outputs/FY2027:upside/values/gross_profitNone117.618312
/operating_model/outputs/FY2027:upside/values/operating_incomeNone25.418312000000004
/operating_model/outputs/FY2027:upside/values/preferred_fundingNone100.0
/operating_model/outputs/FY2027:upside/values/preferred_pikNone14.547830725031325
/operating_model/outputs/FY2027:upside/values/revenueNone509.8456
/operating_model/outputs/FY2027:upside/values/stockpile_revenueNone85.0
/operating_model/outputs/FY2027:upside/values/strategic_cashNone14.655000000000001
/operating_model/reviewed_atNone2026-09-19
/operating_model/schema_versionNoneoperating_model.v1
/operating_model/titleNoneMetal-price pass-through, staged government capital and new delivery obligations
/research/change_noteNoneAdded September completed/conditional funding split, preferred PIK, stockpile delivery limits and German price sensitivity.
/research/checkpoints/0/date_statusNoneestimated
/research/checkpoints/0/eventNoneStaged financing
/research/checkpoints/0/timingNoneFirst subsequent tranche window from March 2027
/research/checkpoints/0/watchNoneVerify conditions and actual receipts rather than assuming the full commitment is cash.
/research/checkpoints/1/date_statusNoneestimated
/research/checkpoints/1/eventNoneGerman acquisition
/research/checkpoints/1/timingNoneQ1 calendar 2027 expected closing
/research/checkpoints/1/watchNoneObtain final price, pension/working-capital values and acquired financials.
/research/checkpoints/2/date_statusNoneestimated
/research/checkpoints/2/eventNoneStockpile and new supply
/research/checkpoints/2/timingNoneEach delivery-order/project update
/research/checkpoints/2/watchNoneSeparate the ceiling, accepted orders, qualified supply and recognized deliveries.
/research/countercaseNoneCommodity inflation can increase reported sales while tying up cash. Conditional funding may lag projects, new supply may arrive late and preferred claims grow even before commercial deliveries. German closing consideration could materially exceed the negative fixed-price component.
/research/economicsNoneH1 revenue was $122.4M and CFO negative $7.6M, with inventory absorbing $32.8M. Net capital spending was $3.1M after grants; July cash was $66.1M. Q2 management attributed about 55% of sales growth to net demand and the remainder to metal-price effects. September 14 brought $200M actual preferred funding under a $450M commitment; remaining $250M is conditional in staged $50M tranches. Preferred PIK accrues at 5.5% and warrants can represent up to 19.9% post-transaction ownership. The DLA agreement has a $2B ceiling and $150M minimum over a five-year ordering period, not immediate revenue. Domestic investment above $165M, controlled Springer plant work and separate raw-material/minority investments require cash. The German asset purchase is expected in Q1 calendar 2027, but final price depends on metal inventory and pension adjustments.
/research/limitations/0NoneSeptember 14 initial preferred funding of $200M was received. Remaining $250M is conditional, in up to $50M tranches available at six-month intervals; congressional authorization, appropriations and other conditions remain relevant.
/research/limitations/1NonePreferred dividends accrue at 5.5%, compound quarterly and are payable in kind. Warrants cover up to 19.9% post-transaction ownership. Redemption and warrant-linked reductions require a full ownership waterfall; this model tracks PIK before those adjustments, not common equity value.
/research/limitations/2NoneThe $2B stockpile ceiling is not backlog recognized as revenue. The $150M minimum is funded commitment over a five-year ordering period, subject to accepted delivery orders; materials may be delivered within 48 months of each order. Desk sales begin only after assumed incremental supply.
/research/limitations/3NoneSeptember German asset acquisition remains conditional with Q1 calendar 2027 closing expected. The price includes negative EUR18M, pension assets less obligations, EUR1M restructuring prepayment and working-capital adjustment against EUR3.875M. No fixed final purchase price or receipt is asserted.
/research/limitations/4NoneMetal-price pass-through can inflate revenue and inventory funding without equal margin growth. Q2 management attributed about 55% of revenue growth to net demand and the balance to raw material pricing; this model independently tests incremental pass-through.
/research/limitations/5NoneThe controlled Springer JV is consolidated in the forward scenario, so internal capital contributions are eliminated; only modeled external plant cash is counted as capex. Separate raw-material prepayments and Blue Moon minority shares are additional cash deployment.
/research/limitations/6NoneBlue Moon CAD35M investment is a binding commitment; modeled USD settlement depends on assumed FX. Government money is earmarked for project purposes and does not become free cash for common owners.
/research/limitations/7NoneH1 capex was reported net of government capital grants. Historical supplement corrects fiscal labels, adds reported July cash and sources net-capex treatment; missing historical quarters remain unavailable, not zero.
/research/limitations/8NoneForecast excludes precise preferred redemption, debt/lease principal, equity-award withholding, full acquisition working-capital settlement and discretionary investments. Cash after funding is a period cash-flow proxy before those claims, not ending unrestricted cash.
/research/limitations/9NoneFiscal quarter dates use the company's 52/53-week calendar convention, with future dates estimated. All delivery, inventory, investment and German closing cases are desk assumptions; no full-year earnings guidance is asserted.
/research/questionNoneCan funded supply-chain expansion produce durable margins after working capital and senior financing claims?
/research/reviewed_atNone2026-09-19
/research/risks/0NoneGovernment appropriations, closing conditions and procurement timing.
/research/risks/1NoneTungsten availability, inventory pricing and pass-through margins.
/research/risks/2NoneProject commissioning, controlled-JV costs and minority commitments.
/research/risks/3NoneGerman pension and working-capital purchase adjustments.
/research/risks/4NonePreferred compounding, warrants and conditional cash compensation.
/research/titleNoneA larger tungsten program with staged capital and delivery conditions
/sources/0/retrievedNone2026-09-19
/sources/0/titleNoneH1 financials, net capital grants and fiscal calendar
/sources/0/urlNonehttps://www.sec.gov/Archives/edgar/data/2101698/000162828026056460/elmt-20260703.htm
/sources/1/retrievedNone2026-09-19
/sources/1/titleNoneQ2 demand/metal-price mix and backlog
/sources/1/urlNonehttps://www.sec.gov/Archives/edgar/data/2101698/000121390026088714/ea030166201ex99-1.htm
/sources/2/retrievedNone2026-09-19
/sources/2/titleNoneSeptember initial funding, tranches, PIK, warrants and stockpile obligations
/sources/2/urlNonehttps://www.sec.gov/Archives/edgar/data/2101698/000121390026099734/ea0304682-8k_elmet.htm
/sources/3/retrievedNone2026-09-19
/sources/3/titleNoneConditional German purchase-price formula and expected closing
/sources/3/urlNonehttps://www.sec.gov/Archives/edgar/data/2101698/000121390026097862/ea0304152-8k_elmet.htm
/thesis/scenario_rangesNoneExplicit downside/base/upside business assumptions; not price targets, probabilities or historical market-memory bands.
/thesis/viewSeptember funding materially expands the execution opportunity but also adds preferred and dilution claims. The research tests when real external deliveries and operating cash follow investment, keeping contract ceilings and received financing separate from revenue.
/thesis/what_changes_itTrack tranche closings, external project cash, inventory, purchase-price adjustments and accepted stockpile orders before upgrading the earnings case.