Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.
Outlined bar is the consensus estimate; solid is reported.
Periods without a consensus estimate or a reported figure show a dash.
| Period | EPS estimate | EPS actual | EPS surprise % | Revenue estimate | Revenue actual | Revenue surprise % |
|---|---|---|---|---|---|---|
| Q2 26 | -$0.41 | -$0.45 | -9.8% | — | $0 | — |
| Q1 26 | -$0.46 | -$0.33 | +28.3% | — | $0 | — |
| Q4 25 | -$0.56 | -$0.41 | +26.8% | — | $0 | — |
| Q3 25 | -$0.68 | -$0.44 | +35.3% | — | $0 | — |
| Q2 25 | -$0.52 | -$0.68 | -30.8% | — | — | — |
| Q1 25 | -$0.55 | -$0.48 | +12.7% | — | — | — |
| Q4 24 | -$0.37 | -$0.62 | -67.6% | — | — | — |
| Q3 24 | -$0.3 | -$0.5 | -66.7% | — | — | — |
| Q2 24 | -$0.25 | -$0.34 | -36.0% | — | — | — |
| Q1 24 | -$0.23 | -$0.25 | -8.7% | — | — | — |
| Q4 23 | -$0.25 | -$0.29 | -16.0% | — | — | — |
| Q3 23 | -$0.26 | -$0.24 | +7.7% | — | — | — |
| Q2 23 | -$0.34 | -$0.28 | +17.6% | — | $0 | — |
| Q1 23 | -$0.33 | -$0.28 | +15.2% | — | $0 | — |
| Q4 22 | -$0.23 | -$0.32 | -39.1% | — | $0 | — |
| Q3 22 | -$0.23 | -$0.26 | -13.0% | — | $0 | — |
Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.
Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.
Periods without a consensus estimate or a reported figure show a dash.
| Period | EPS estimate | EPS actual | EPS surprise % | Revenue estimate | Revenue actual | Revenue surprise % |
|---|---|---|---|---|---|---|
| FY25 | — | -$2 | — | — | $0 | — |
| FY24 | — | -$1.71 | — | — | $0 | — |
| FY23 | — | -$1.08 | — | — | $0 | — |
| FY22 | — | -$1.06 | — | — | $0 | — |
| FY21 | — | -$5.02 |
Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.
| Period | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|
| Revenue | $1.7M | $0 | $0 | $0 | $0 | $0 | $0 |
| YoY change | — | -100% | 0% | 0% | 0% | 0% | 0% |
Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.
| Period | Q3 23 | Q4 23 | Q1 24 |
|---|
Revenue, gross profit, operating income, and net income per period.
Click a row to chart it; unreported figures show a dash.
| Period | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|
| Revenue | 1.7M | 0 | 0 | 0 | 0 | 0 | 0 |
| Cost of revenue | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — |
| Research & development | 8.6M | 8M | 12.3M | 32.4M | 42.3M | 93.8M | 104.9M |
| Selling, general & administrative | 926K | 1.4M | 7.3M | 12.9M | 18.8M | 20.2M | 18.9M |
| Operating expenses | 9.5M | 7.9M | 19.6M | 45.2M | 61.1M | 114M | 123.8M |
| Operating income | -7.8M | -7.9M | -19.6M | -45.2M | -61.1M | -114M | -123.8M |
| Operating margin | -459.9% | — | — | — | — | — | — |
| Non-operating income, net | -147K | 586K | -81.1M | -11K | -1.4M | 1.4M | -726K |
| Pretax income | -7.9M | -7.3M | -100.6M | -42.9M | -52.4M | -102.3M | -121.3M |
| Income tax | — | — | — | — | — | — | — |
| Net income | -7.9M | -7.3M | -100.6M | -42.9M | -52.4M | -102.3M | -121.3M |
| Net margin | -465.9% | — | — | — | — | — | — |
| EBITDA | -7.7M | -8.5M | 61.6M | -42.7M | -50.2M | -99.7M | -116.5M |
| EPS | -0.27 | -0.26 | -5.02 | -1.06 | -1.08 | -1.71 | -2 |
| Diluted EPS | -0.27 | -0.26 | -5.02 | -1.06 | -1.08 | -1.71 | -2 |
Revenue, gross profit, operating income, and net income per period.
Click a row to chart it; unreported figures show a dash.
| Period | Q3 23 | Q4 23 | Q1 24 | Q2 24 | Q3 24 | Q4 24 | Q1 25 | Q2 25 | Q3 25 | Q4 25 | Q1 26 | Q2 26 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | — | — | — | — | — | — | — | — | 0 | 0 | 0 | 0 |
| Cost of revenue | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — | — | — | — | — | — |
| Research & development | 11.2M | 13.3M | 12.4M | 19.5M | 27.2M | 34.6M | 25.3M | 37.1M | 22M | 20.5M | 16.5M | 27.8M |
| Selling, general & administrative | — | — | — | — | — | — | — | — | 4.5M | 4.7M | 4.7M | 4.7M |
| Operating expenses | 11.2M | 13.3M | 12.4M | 19.5M | 27.2M | 34.6M | 25.3M | 37.1M | 26.5M | 25.2M | 21.1M | 32.6M |
| Operating income | — | — | — | — | — | — | — | — | -26.5M | -25.2M | -21.1M | -32.6M |
| Operating margin | — | — | — | — | — | — | — | — | — | — | — | — |
| Non-operating income, net | — | — | — | — | — | — | — | — | -509K | -174K | 417K | -179K |
| Pretax income | — | — | — | — | — | — | — | — | -26.5M | -25.1M | -20.7M | -32.7M |
| Income tax | — | — | — | — | — | — | — | — | — | — | — | — |
| Net income | — | — | — | — | — | — | — | — | -26.5M | -25.1M | -20.7M | -32.7M |
| Net margin | — | — | — | — | — | — | — | — | — | — | — | — |
| EBITDA | — | — | — | — | — | — | — | — | -24.9M | -23.8M | -20.1M | -31.4M |
| EPS | -0.24 | — | -0.25 | -0.34 | -0.5 | — | -0.48 | -0.68 | -0.44 | — | -0.33 | -0.45 |
| Diluted EPS | -0.24 | — | -0.25 | -0.34 | -0.5 | — | -0.48 | -0.68 | -0.44 | — | -0.33 | -0.45 |
Annual history by fiscal year; click a table row below to chart a different metric.
Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| Market cap | — | — | — | — | — | — | 127.8M | 166.3M |
| Enterprise value | — | — | — | — | — | — | 42.2M | 83.4M |
| Shares outstanding | 28.7M | 28.7M | 20.1M | 40.6M | 48.6M | 60M | 60.6M | 60.6M |
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| P/E | — | — | — | — | — | — | — | -1.15 |
| P/B | — | — | — | — | — | — | 1.81 | 2.96 |
| EV/EBITDA | — | — | — | — | — | — | -0.36 | -0.79 |
| Earnings yield | — | — | — | — | — | — | — | -87% |
| FCF yield | — | — | — | — | — | — | -90.5% | -34% |
| PEG | — | — | — | — | — | — | — | 0.03 |
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| Operating margin | -459.9% | — | — | — | — | — | — | 0% |
| Net margin | -465.9% | — | — | — | — | — | — | 0% |
| ROE | 69.2% | 39.4% | -44.7% | -22.7% | -19.6% | -56.3% | -172.3% | -120.5% |
| ROA | -108% | -16.5% | -43.7% | -21.8% | -16.9% | -42.8% | -98.8% | -45.8% |
| Return on tangible assets | -108% | -16.5% | -43.7% | -21.8% | -16.9% | -42.8% | -98.8% | -90.6% |
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| Current ratio | 5.35 | 6.98 | 38.6 | 23.1 | 19 | 6.46 | 4.07 | 2.47 |
| Quick ratio | 5.35 | 6.98 | 38.6 | 23.1 | 19 | 6.46 | 4.07 | 2.47 |
| Debt / equity | — | — | — | 0 | 0.11 | 0.16 | 0.44 | 0.55 |
| Debt / assets | — | — | — | 0 | 0.09 | 0.12 | 0.25 | 0.27 |
| Net debt / EBITDA | — | — | — | 4.16 | 4.28 | 1.43 | 0.73 | 0.78 |
| Interest coverage | — | — | — | — | -89.1 | -24.2 | -27.7 | -23.3 |
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| Revenue per share | 0.06 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (basic) | -0.27 | -0.26 | -5.02 | -1.06 | -1.08 | -1.71 | -2 | -2 |
| EPS (diluted) | -0.27 | -0.26 | -5.02 | -1.06 | -1.08 | -1.71 | -2 | -1.64 |
| Book value per share | -0.4 | -0.65 | 11.2 | 4.65 | 5.49 | 3.03 | 1.16 | 0.79 |
| FCF per share | -0.24 | -0.26 | -0.9 | -0.87 | -0.89 | -1.44 | -1.91 | -1.27 |
| Cash per share | 0.23 | 1.53 | 9.68 | 4.37 | 5.01 | 2.86 | 1.93 | 1.52 |
| Capex per share | — | 0 | 0 | 0 | 0 | 0 | — | — |
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| Capex / operating cash flow | — | 0% | -0.22% | -0.41% | -0.04% | -0.02% | — | — |
| Payout ratio | — | — | — | — | — | 0% | — | 0% |
| — |
| — |
| $0 |
| — |
| FY20 | — | -$0.26 | — | — | $0 | — |
| FY19 | — | -$0.27 | — | — | $1.7M | — |
| Q2 24 |
|---|
| Q3 24 |
|---|
| Q4 24 |
|---|
| Q1 25 |
|---|
| Q2 25 |
|---|
| Q3 25 |
|---|
| Q4 25 |
|---|
| Q1 26 |
|---|
| Q2 26 |
|---|
| Revenue | — | — | — | — | — | — | — | — | $0 | $0 | $0 | $0 |
| YoY change | — | — | — | — | — | — | — | — | — | — | — | — |
What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.
Click a row to chart it; unreported figures show a dash.
| Period | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|
| Cash & short-term investments | 6.6M | 43.8M | 194.2M | 177.6M | 243.5M | 171.6M | 116.9M |
| Receivables | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — |
| Total current assets | 7.2M | 44.4M | 198.7M | 180.3M | 246.6M | 178.3M | 122.3M |
| Property, plant & equipment | — | — | 36K | 270K | 503K | 339K | 243K |
| Goodwill & intangibles | — | — | — | — | — | 150K | 58K |
| Total assets | 7.3M | 44.4M | 230.3M | 196.6M | 310.1M | 239M | 122.8M |
| Accounts payable | 223K | 531K | 1.1M | 1.6M | 1.4M | 5.6M | 554K |
| Short-term debt | — | — | — | 105K | 866K | 133K | 8.9M |
| Total current liabilities | 1.3M | 6.4M | 5.1M | 7.8M | 13M | 27.6M | 30M |
| Long-term debt | — | — | — | 0 | 27.6M | 28.6M | 22.4M |
| Total liabilities | 18.7M | 63M | 5.1M | 7.8M | 43.2M | 57.2M | 52.4M |
| Shareholders' equity | -11.4M | -18.6M | 225.2M | 188.8M | 267M | 181.8M | 70.4M |
| Total debt | — | — | — | 105K | 28.5M | 28.7M | 31.3M |
| Net debt | — | — | — | -130M | -38.4M | -6.9M | -22.7M |
What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.
Click a row to chart it; unreported figures show a dash.
| Period | Q3 23 | Q4 23 | Q1 24 | Q2 24 | Q3 24 | Q4 24 | Q1 25 | Q2 25 | Q3 25 | Q4 25 | Q1 26 | Q2 26 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & short-term investments | 215.4M | 243.5M | 252.5M | 260.5M | 200.3M | 171.6M | 149.1M | 143.4M | 126.6M | 116.9M | 128.4M | 110.2M |
| Receivables | — | — | — | — | — | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current assets | 218.6M | 246.6M | 255.8M | 266.9M | 207.6M | 178.3M | 154.9M | 148.4M | 132.2M | 122.3M | 133.1M | 115.5M |
| Property, plant & equipment | 125K | 503K | 470K | 430K | 385K | 339K | 373K | 335K | 288K | 243K | 197K | 152K |
| Goodwill & intangibles | — | — | — | 368K | — | 150K | 112K | 100K | 60K | 58K | 48K | 48K |
| Total assets | 286.4M | 310.1M | 301M | 288.9M | 267M | 239M | 204.5M | 171.9M | 142.2M | 122.8M | 133.6M | 116M |
| Accounts payable | 1.4M | 1.4M | 3.1M | 4.2M | 2.3M | 5.6M | 1.1M | 2.1M | 682K | 554K | 1.7M | 13.4M |
| Short-term debt | 2K | 866K | 121K | 125K | 129K | 133K | 138K | 142K | 3.7M | 8.9M | 14.2M | 19.8M |
| Total current liabilities | 6.1M | 13M | 8.5M | 15.4M | 19.9M | 27.6M | 19.3M | 24.9M | 22M | 30M | 29.2M | 46.8M |
| Long-term debt | — | 27.6M | 27.9M | 28.1M | 28.3M | 28.6M | 28.9M | 30M | 27.1M | 22.4M | 16.9M | 11.9M |
| Total liabilities | 6.1M | 43.2M | 38.9M | 45M | 49.8M | 57.2M | 49M | 54.8M | 49M | 52.4M | 46.2M | 58.7M |
| Shareholders' equity | 280.3M | 267M | 262M | 243.9M | 217.2M | 181.8M | 155.5M | 117.1M | 93.2M | 70.4M | 87.5M | 57.3M |
| Total debt | 2K | 28.5M | 28M | 28.2M | 28.5M | 28.7M | 29M | 30.1M | 30.8M | 31.3M | 31.2M | 31.6M |
| Net debt | -94.9M | -38.4M | -19M | -39.7M | -4.7M | -6.9M | -1.2M | -6.7M | -16M | -22.7M | -20.6M | -27.8M |
Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.
Click a row to chart it; unreported figures show a dash.
| Period | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|
| Net income | -7.9M | -7.3M | -100.6M | -42.9M | -52.4M | -102.3M | -121.3M |
| Depreciation & amortization | — | 0 | 4K | 169K | 184K | 178K | 184K |
| Stock-based compensation | 174K | 154K | 922K | 3.1M | 6.1M | 9.6M | 9.9M |
| Change in working capital | 230K | 373K | 543K | 278K | -424K | 4.3M | -5.1M |
| Operating cash flow | -7.4M | -7.4M | -17.9M | -39.3M | -45.6M | -86.8M | -115.5M |
| Capital expenditure | — | 0 | -40K | -161K | -18K | -16K | — |
| Investing cash flow | — | 0 | -104.1M | 39.2M | -171.7M | 48M | 134M |
| Dividends paid | — | — | — | — | — | 0 | — |
| Share repurchases | — | — | — | — | — | -41K | -73K |
| Financing cash flow | 6.2M | 44.7M | 198.6M | 3.8M | 151.4M | 6.9M | -73K |
| Net change in cash | -1.1M | 37.3M | 76.6M | 3.6M | -65.8M | -31.9M | 18.4M |
| Free cash flow | -6.8M | -7.5M | -18M | -35.3M | -43.1M | -86.2M | -115.6M |
Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.
Click a row to chart it; unreported figures show a dash.
| Period | Q3 23 | Q4 23 | Q1 24 | Q2 24 | Q3 24 | Q4 24 | Q1 25 | Q2 25 | Q3 25 | Q4 25 | Q1 26 | Q2 26 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net income | -13M | -16.5M | -14.9M | -20.5M | -29.8M | -37.2M | -28.8M | -41M | -26.5M | -25.1M | -20.7M | -32.7M |
| Depreciation & amortization | 40K | 39K | 44K | 45K | 45K | 44K | 45K | 47K | 47K | 45K | 46K | 45K |
| Stock-based compensation | 1.6M | 1.6M | 2.5M | 2.5M | 2.3M | 2.3M | 2.5M | 2.5M | 2.5M | 2.4M | 2.4M | 2.5M |
| Change in working capital | -670K | -5K | 1.7M | 1M | -1.9M | 3.4M | -4.6M | 1M | -1.4M | -130K | 1M | 11.8M |
| Operating cash flow | -12M | -14.8M | -10.4M | -16.7M | -28.8M | -31.1M | -30.6M | -31.8M | -30.5M | -19.1M | -24.1M | -18.1M |
| Capital expenditure | -4K | -14K | -11K | -5K | 0 | 0 | -79K | — | — | — | — | — |
| Investing cash flow | -92M | -48.8M | -9.2M | 37.7M | -10.1M | 29.7M | 28.7M | 38.5M | 40.5M | 26.3M | -13.8M | 26M |
| Dividends paid | — | — | — | — | — | — | — | — | — | — | — | — |
| Share repurchases | 0 | — | -32K | 0 | 0 | -9K | -73K | 0 | 0 | 0 | -149K | 0 |
| Financing cash flow | 122.3M | -390K | 7.1M | -128K | -42K | -9K | -73K | 0 | 0 | 0 | 35.6M | -305K |
| Net change in cash | 18.3M | -64M | -12.5M | 20.9M | -38.9M | -1.4M | -1.9M | 6.7M | 10M | 7.2M | -2.3M | 7.6M |
| Free cash flow | -12.9M | -8.3M | -17.9M | -16.6M | -24.6M | -27.2M | -34.2M | -31.8M | -30.5M | -19.1M | -24.1M | -18.1M |