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 | -$1.64 | -$1.99 | -21.3% | — | $0 | — |
| Q1 26 | -$3.08 | -$1.88 | +39.0% | — | $0 | — |
| Q4 25 | -$2.99 | -$2.94 | +1.7% | — | $0 | — |
| Q3 25 | -$5.07 | -$4.64 | +8.5% | — | $0 | — |
| Q2 25 | -$4.75 | -$5.44 | -14.5% | — | $0 | — |
| Q1 25 | -$5.38 | -$4.96 | +7.8% | — | $0 | — |
| Q4 24 | -$5.79 | -$5.12 | +11.6% | — | $0 | — |
| Q3 24 | -$5.33 | -$5.44 | -2.1% | — | $0 | — |
| Q2 24 | -$5.84 | -$5.28 | +9.6% | — | $0 | — |
| Q1 24 | -$6.28 | -$5.6 | +10.8% | — | $0 | — |
| Q4 23 | -$11.3 | -$11 | +2.0% | — | $0 | — |
| Q3 23 | -$0.74 | -$1.16 | -56.8% | — | $0 | — |
| Q2 23 | -$0.68 | -$0.75 | -10.3% | — | $0 | — |
| Q1 23 | -$0.69 | -$0.72 | -4.3% | — | $0 | — |
| Q4 22 | -$8.1 | -$11.5 | -42.2% | — | $0 | — |
| Q3 22 | -$0.53 | -$0.53 | 0.0% | — | $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 | — | -$16.9 | — | — | $0 | — |
| FY24 | — | -$21.3 | — | — | $0 | — |
| FY23 | — | -$3.31 | — | — | $0 | — |
| FY22 | — | -$1.7 | — | — | $25M | — |
| FY21 | — |
Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.
| Period | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $8.2M | $995K | $17.9M | $9.7M | $25M | $0 | $0 | $0 |
| YoY change | — | -87.8% | +1.7K% | -45.7% | +156.8% | -100% | 0% | 0% |
Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.
Revenue, gross profit, operating income, and net income per period.
Click a row to chart it; unreported figures show a dash.
| Period | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 8.2M | 995K | 17.9M | 9.7M | 25M | 0 | 0 | 0 |
| Cost of revenue | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — | — |
| Research & development | 14.7M | 23.7M | 34.3M | 48.9M | 71.2M | 106M | 99.3M | 99.1M |
| Selling, general & administrative | 8.4M | 8.7M | 22.8M | 22.2M | 26.3M | 26.5M | 28.3M | 23M |
| Operating expenses | 23.1M | 32.4M | 57.1M | 71.2M | 97.5M | 132.6M | 127.6M | 122.1M |
| Operating income | -15M | -31.4M | -39.2M | -61.4M | -72.6M | -132.6M | -127.6M | -122.1M |
| Operating margin | -182.9% | -3.2K% | -218.9% | -631.4% | -290.3% | — | — | — |
| Non-operating income, net | 4.5M | 2.3M | -953K | -606K | -919K | -20M | -217K | -430K |
| Pretax income | -9.9M | -28.1M | -39.5M | -62.1M | -69.8M | -142.7M | -117.1M | -116.8M |
| Income tax | -589K | 19K | -2.8M | -125K | 0 | 0 | 0 | 0 |
| Net income | -9.3M | -28.1M | -36.7M | -62M | -69.8M | -142.7M | -117.1M | -116.8M |
| Net margin | -113.7% | -2.8K% | -204.9% | -637.2% | -279.3% | — | — | — |
| EBITDA | -8.7M | -26.9M | -38.1M | -60.4M | -67.1M | -117.1M | -110.7M | -110.4M |
| EPS | -0.47 | -1.44 | -5.01 | -2 | -1.7 | -3.31 | -21.3 | -16.9 |
| Diluted EPS | -0.47 | -1.44 | -5.01 | -2 | -1.7 | -3.31 | -21.3 | -16.9 |
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 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cost of revenue | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — | — | — | — | — | — |
| Research & development | 26.2M | 24.8M | 23.9M | 25.9M | 26.3M | 23.3M | 22.8M | 28.4M | 22.9M | 25M | 17.5M | 18.4M |
| Selling, general & administrative | 6.6M | 6.8M | 7M | 6.9M | 6.9M | 7.5M | 7.1M | 4M | 5.1M | 6.8M | 4.1M | 3.9M |
| Operating expenses | 32.8M | 31.6M | 30.9M | 32.8M | 33.2M | 30.7M | 29.9M | 32.4M | 28M | 31.9M | 21.6M | 22.3M |
| Operating income | -32.8M | -31.6M | -30.9M | -32.8M | -33.2M | -30.7M | -29.9M | -32.4M | -28M | -31.9M | -21.6M | -22.3M |
| Operating margin | — | — | — | — | — | — | — | — | — | — | — | — |
| Non-operating income, net | -19.6M | -101K | -61K | -51K | -54K | -50K | -12K | -223K | -64K | -130K | 7K | -60K |
| Pretax income | -49.9M | -29.5M | -28M | -29.9M | -30.5M | -28.7M | -28.2M | -31.2M | -26.9M | -30.5M | -20.2M | -21.2M |
| Income tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 143K |
| Net income | -49.9M | -29.5M | -28M | -29.9M | -30.5M | -28.7M | -28.2M | -31.2M | -26.9M | -30.5M | -20.2M | -21.4M |
| Net margin | — | — | — | — | — | — | — | — | — | — | — | — |
| EBITDA | -28.8M | -27.8M | -26.4M | -28.3M | -28.9M | -27.1M | -26.5M | -29.6M | -25.3M | -29M | -18.9M | -20M |
| EPS | -1.16 | — | -0.35 | -0.33 | -0.34 | -5.12 | -4.96 | -5.44 | -4.64 | -2.94 | -1.88 | -1.99 |
| Diluted EPS | -1.16 | — | -0.35 | -0.33 | -0.34 | -5.12 | -4.96 | -5.44 | -4.64 | -2.94 | -1.88 | -1.99 |
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 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Market cap | 18.9B | 3.3B | — | — | — | 1.3B | — | — | 59.4M |
| Enterprise value | 18.9B | 3.2B | — | — | — | 1.2B | — | — | -8.2M |
| Shares outstanding | 19.6M | 19.6M | 7.3M | 31M | 41.1M | 43M | 5.5M | 6.9M | 6.9M |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| P/E | — | — | — | — | — | — | — | — | -0.37 |
| P/S | 2.3K | 3.3K | — | — | — | — | — | — | — |
| P/B | — | -54.2 | — | — | — | 7.65 | — | — | 0.61 |
| EV/EBITDA | -2.2K | -119.3 | — | — | — | -9.93 | — | — | 0.08 |
| EV/Sales | 2.3K | 3.2K | — | — | — | — | — | — | — |
| Earnings yield | — | — | — | — | — | — | — | — | -270.8% |
| FCF yield | -0.1% | -0.89% | — | — | — | -7.54% | — | — | -79.9% |
| PEG | — | — | — | — | — | — | — | — | 0.01 |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Operating margin | -182.9% | -3.2K% | -218.9% | -631.4% | -290.3% | — | — | — | 0% |
| Net margin | -113.7% | -2.8K% | -204.9% | -637.2% | -279.3% | — | — | — | 0% |
| ROE | — | 46.6% | -33.4% | -20.5% | -23.9% | -83.8% | -62.8% | -73.4% | -78.1% |
| ROA | — | -34.5% | -23.8% | -18.3% | -21.1% | -68.8% | -53.2% | -60.7% | -41.7% |
| ROIC | — | 25.6% | -106.3% | -132% | -130.2% | -422.4% | -463.4% | -792% | -700.6% |
| Return on tangible assets | — | -34.5% | -33% | -20.7% | -23.9% | -68.8% | -53.2% | -60.7% | -66.8% |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Current ratio | — | 4.32 | 4.46 | 17.3 | 13.2 | 8.41 | 9.29 | 7.47 | 6.71 |
| Quick ratio | — | 4.32 | 4.46 | 17.3 | 13.2 | 8.41 | 9.29 | 7.47 | 6.71 |
| Debt / equity | — | — | 0.2 | 0.07 | 0.07 | 0.12 | 0.09 | 0.09 | 0.11 |
| Debt / assets | — | — | 0.14 | 0.06 | 0.06 | 0.1 | 0.08 | 0.08 | 0.09 |
| Net debt / EBITDA | — | — | 1.91 | 4.25 | 3.52 | 1.19 | 1.44 | 1.3 | 1.13 |
| Interest coverage | — | — | -293.7 | -352 | -871.4 | -5.7K | -29.3K | -3.2K | -1.2K |
| Effective tax rate | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Revenue per share | 0.42 | 0.05 | 2.45 | 0.31 | 0.61 | 0 | 0 | 0 | 0 |
| EPS (basic) | -0.47 | -1.44 | -5.01 | -2 | -1.7 | -3.31 | -21.3 | -16.9 | -16.9 |
| EPS (diluted) | -0.47 | -1.44 | -5.01 | -2 | -1.7 | -3.31 | -21.3 | -16.9 | -10.4 |
| Book value per share | — | -3.08 | 15 | 9.79 | 7.12 | 3.95 | 34 | 23.1 | 11.2 |
| FCF per share | -0.97 | -1.48 | -5.81 | -2.07 | -1.5 | -2.28 | -17 | -14.1 | -7.91 |
| Cash per share | — | 3.19 | 12.9 | 8.97 | 6.27 | 3.71 | 32.1 | 23 | 11 |
| Capex per share | 0.04 | 0.05 | 0.14 | 0.42 | 0.41 | 0.1 | 0.2 | — | — |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Capex / revenue | 10.7% | 95.7% | 5.53% | 134.1% | 67.2% | — | — | — | — |
| Capex / operating cash flow | -9.23% | -3.6% | -2.34% | -23.8% | -32.4% | -3.89% | -1.28% | — | — |
| Payout ratio | — | — | — | — | — | — | — | — | 0% |
| -$2 |
| — |
| — |
| $9.7M |
| — |
| FY20 | — | -$5.01 | — | — | $17.9M | — |
| FY19 | — | -$1.44 | — | — | $995K | — |
| FY18 | — | -$0.47 | — | — | $8.2M | — |
| 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 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| YoY change | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
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 | 62.4M | 94.6M | 277.5M | 257.7M | 159.7M | 176.3M | 158.5M |
| Receivables | — | 0 | 185K | 0 | — | — | — |
| Inventory | — | — | — | — | — | — | — |
| Total current assets | 64.2M | 100.3M | 282.4M | 261M | 162.3M | 180.1M | 160.9M |
| Property, plant & equipment | 2.1M | 25.9M | 35M | 49M | 44.2M | 36.8M | 28.5M |
| Goodwill & intangibles | 0 | 42.6M | 38.9M | 38.9M | 0 | — | — |
| Total assets | 81.6M | 153.8M | 338.9M | 330.7M | 207.3M | 220.2M | 192.4M |
| Accounts payable | 1.1M | 1.6M | 3.3M | 4.4M | 2.6M | 4.8M | 4.7M |
| Short-term debt | — | 1.2M | 1.6M | 2.5M | 3.2M | 3.1M | 3.2M |
| Total current liabilities | 14.9M | 22.5M | 16.3M | 19.7M | 19.3M | 19.4M | 21.5M |
| Long-term debt | — | 20.4M | 19.4M | 18.5M | 17.7M | 14.1M | 11.6M |
| Total liabilities | 142M | 44M | 35.8M | 38.4M | 37.1M | 33.6M | 33.1M |
| Shareholders' equity | -60.4M | 109.8M | 303.1M | 292.3M | 170.2M | 186.6M | 159.2M |
| Total debt | — | 21.6M | 20.9M | 21M | 20.9M | 17.2M | 14.7M |
| Net debt | — | -62.7M | -256.6M | -236.6M | -138.8M | -39.3M | -24.2M |
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 | 183.3M | 159.7M | 247.6M | 224.1M | 202.1M | 176.3M | 150.4M | 125M | 103.1M | 158.5M | 137.6M | 118.2M |
| Receivables | — | — | — | — | — | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current assets | 185.9M | 162.3M | 250.3M | 228.4M | 206.3M | 180.1M | 153.6M | 127.7M | 106.5M | 160.9M | 140.1M | 120.8M |
| Property, plant & equipment | 46.5M | 44.2M | 25.4M | 39.9M | 39.1M | 36.8M | 34.5M | 32.1M | 31M | 28.5M | 26.4M | 24.5M |
| Goodwill & intangibles | 0 | 0 | — | — | — | — | — | — | — | — | — | — |
| Total assets | 233.3M | 207.3M | 293.1M | 268.8M | 246M | 220.2M | 191.3M | 163M | 140.5M | 192.4M | 169.4M | 148.2M |
| Accounts payable | 4.1M | 2.6M | 2.5M | 1.9M | 2.5M | 4.8M | 4.4M | 3.3M | 4.3M | 4.7M | 2.9M | 3.6M |
| Short-term debt | 3.1M | 3.2M | 3.3M | 3.4M | 3.3M | 3.1M | 3M | 3M | 3.3M | 3.2M | 2.9M | 2.8M |
| Total current liabilities | 19.8M | 19.3M | 17.5M | 17.9M | 19.4M | 19.4M | 16.4M | 17.1M | 18.9M | 21.5M | 18.3M | 18M |
| Long-term debt | 18.7M | 17.7M | 16.7M | 15.7M | 14.9M | 14.1M | 13.3M | 12.4M | 12.3M | 11.6M | 11M | 10M |
| Total liabilities | 38.6M | 37.1M | 34.3M | 33.7M | 34.4M | 33.6M | 29.8M | 29.6M | 31.3M | 33.1M | 29.3M | 28M |
| Shareholders' equity | 194.7M | 170.2M | 258.8M | 235.1M | 211.5M | 186.6M | 161.4M | 133.4M | 109.1M | 159.2M | 140.1M | 120.1M |
| Total debt | 21.8M | 20.9M | 20M | 19.1M | 18.2M | 17.2M | 16.2M | 15.4M | 15.5M | 14.7M | 13.9M | 12.9M |
| Net debt | -161.5M | -138.8M | -227.6M | -204.9M | -87.3M | -39.3M | -11.9M | -19.4M | -13.6M | -24.2M | -22.3M | -20.3M |
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 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|
| Net income | -9.3M | -28.1M | -36.7M | -62M | -69.8M | -142.7M | -117.1M | -116.8M |
| Depreciation & amortization | 1.2M | 1.2M | 1.2M | 1.5M | 2.6M | 6.1M | 6.5M | 6.4M |
| Stock-based compensation | 2.5M | 1.2M | 5.3M | 12.5M | 17.1M | 20.3M | 22.2M | 14.3M |
| Change in working capital | -3.9M | -704K | -11.1M | -8.5M | -4.2M | -1.4M | -2.2M | -2.1M |
| Operating cash flow | -9.5M | -26.4M | -42.3M | -54.8M | -51.8M | -114.9M | -87.4M | -95.2M |
| Capital expenditure | -876K | -952K | -990K | -13M | -16.8M | -4.5M | -1.1M | — |
| Investing cash flow | -16.1M | -47.9M | 115.2M | -2.8M | -16.8M | -4.5M | -119.2M | 4.1M |
| Dividends paid | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — |
| Financing cash flow | 10.8M | 76.9M | -157K | 237.9M | 39.8M | -150K | 110.8M | 74.9M |
| Net change in cash | -14.7M | 2.6M | 72.8M | 180.3M | -28.8M | -119.5M | -95.9M | -16.2M |
| Free cash flow | -19.1M | -29M | -42.5M | -64.1M | -61.5M | -98.2M | -93.5M | -97M |
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 | -49.9M | -29.5M | -28M | -29.9M | -30.5M | -28.7M | -28.2M | -31.2M | -26.9M | -30.5M | -20.2M | -21.4M |
| Depreciation & amortization | 1.6M | 1.7M | 1.7M | 1.6M | 1.6M | 1.6M | 1.7M | 1.7M | 1.6M | 1.5M | 1.3M | 1.2M |
| Stock-based compensation | 5.6M | 4.9M | 5.7M | 6M | 6.8M | 3.8M | 3.2M | 2.9M | 2.5M | 5.7M | 1.3M | 1.4M |
| Change in working capital | 644K | -2.2M | -1M | -1.4M | -119K | 264K | -260K | -1.9M | 551K | -485K | -2.6M | -384K |
| Operating cash flow | -41.3M | -24.4M | -20.9M | -22.9M | -21.4M | -22.2M | -22.8M | -26.6M | -22.3M | -20.9M | -21.5M | -19.8M |
| Capital expenditure | -906K | -136K | -239K | -302K | -401K | -176K | -1.5M | — | — | — | — | — |
| Investing cash flow | -906K | -136K | -239K | -302K | -96.6M | -33.1M | -2.9M | 33M | 17M | -44.5M | 18.9M | 16.9M |
| Dividends paid | — | — | — | — | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — | — | — | — | — |
| Financing cash flow | -59K | -81K | 110.8M | 0 | 0 | 0 | -104K | 0 | 0 | 75.2M | -65K | -25K |
| Net change in cash | -42.3M | -24.6M | 89.7M | -23.2M | -118M | -55.4M | -25.7M | 6.4M | -5.3M | 9.7M | -2.6M | -3M |
| Free cash flow | -22.1M | -23.6M | -23.1M | -23.7M | -22.4M | -24.3M | -26.9M | -26.7M | -22.5M | -20.9M | -21.5M | -20M |