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 | -$0.15 | -$0.13 | +13.3% | — | $4.6M | — |
| Q1 26 | -$0.18 | -$0.18 | 0.0% | — | $0 | — |
| Q4 25 | -$0.22 | -$0.17 | +22.7% | — | $0 | — |
| Q3 25 | -$0.23 | -$0.19 | +17.4% | — | $0 | — |
| Q2 25 | -$0.27 | -$0.22 | +18.5% | — | $0 | — |
| Q1 25 | -$0.29 | -$0.28 | +3.4% | — | $0 | — |
| Q4 24 | -$0.32 | -$0.28 | +12.5% | — | $0 | — |
| Q3 24 | -$0.33 | -$0.27 | +18.2% | — | $0 | — |
| Q2 24 | -$0.35 | -$0.32 | +8.6% | — | $0 | — |
| Q1 24 | -$0.41 | -$0.38 | +7.3% | — | $22K | — |
| Q4 23 | -$0.44 | -$0.51 | -15.9% | — | -$44K | — |
| Q3 23 | -$0.52 | -$0.37 | +28.8% | — | $22K | — |
| Q2 23 | -$0.59 | -$0.53 | +10.2% | — | $22K | — |
| Q1 23 | -$0.62 | -$0.68 | -9.7% | — | $30K | — |
| Q4 22 | -$0.7 | -$0.66 | +5.7% | — | $47K | — |
| Q3 22 | -$0.64 | -$0.58 | +9.4% | — | $49K | — |
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 | — | -$0.87 | — | — | $0 | — |
| FY24 | — | -$1.32 | — | — | $22K | — |
| FY23 | — | -$2.09 | — | — | $95K | — |
| FY22 | — | -$2.32 | — | — | $156K | — |
| 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 | $0 | $0 | $0 | $114.1M | $156K | $95K | $22K | $0 |
| YoY change | — | 0% | 0% | +InfinityT% | -99.9% | -39.1% | -76.8% | -100% |
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 | 0 | 0 | 0 | 114.1M | 156K | 95K | 22K | 0 |
| Cost of revenue | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — | — |
| Research & development | 151.9M | 144.5M | 193M | 220.2M | 256.4M | 242.9M | 192.3M | 150.2M |
| Selling, general & administrative | 41M | 57.5M | 65.3M | 74.1M | 79.3M | 71.7M | 65.2M | 56.8M |
| Operating expenses | 192.8M | 202M | 258.2M | 294.3M | 335.7M | 314.6M | 257.5M | 206.9M |
| Operating income | -192.8M | -202M | -258.2M | -180.2M | -335.5M | -314.5M | -257.5M | -206.9M |
| Operating margin | — | — | — | -157.9% | -215.1K% | -331K% | -1.2M% | — |
| Non-operating income, net | -21.2M | -268K | -67.3M | -3.6M | -9.4M | -31.1M | -19.6M | -2.2M |
| Pretax income | -211.6M | -184.9M | -316.4M | -182.1M | -340.4M | -327.3M | -257.1M | -190.9M |
| Income tax | -117K | -331K | 0 | 0 | — | — | 443K | 0 |
| Net income | -211.5M | -184.6M | -316.4M | -182.1M | -340.4M | -327.3M | -257.6M | -190.9M |
| Net margin | — | — | — | -159.6% | -218.2K% | -344.5K% | -1.2M% | — |
| EBITDA | -206.8M | -197M | -250.7M | -169.7M | -321.2M | -287M | -227.6M | -175.1M |
| EPS | -7.31 | -1.83 | -2.08 | -1.89 | -2.32 | -2.09 | -1.32 | -0.87 |
| Diluted EPS | -7.31 | -1.83 | -2.08 | -1.89 | -2.32 | -2.09 | -1.32 | -0.87 |
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 | 22K | -44K | 22K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 4.6M |
| Cost of revenue | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — | — | — | — | — | — |
| Research & development | 46M | 54.7M | 52.3M | 50.4M | 44.7M | 45M | 50.2M | 40.2M | 31.2M | 28.6M | 32M | 30.7M |
| Selling, general & administrative | 17M | 17.2M | 17.3M | 16.1M | 16.3M | 15.5M | 15M | 14.3M | 13.7M | 13.8M | 14.1M | 20.8M |
| Operating expenses | 63M | 71.9M | 69.5M | 66.4M | 61M | 60.5M | 65.2M | 54.4M | 44.9M | 42.4M | 46.1M | 51.6M |
| Operating income | -63M | -71.9M | -69.5M | -66.4M | -61M | -60.5M | -65.2M | -54.4M | -44.9M | -42.4M | -46.1M | -46.9M |
| Operating margin | -286.3K% | 163.5K% | -315.9K% | — | — | — | — | — | — | — | — | -1K% |
| Non-operating income, net | -5.5M | -23.6M | -929K | -4.9M | -11.9M | -2M | 92K | -2.4M | -81K | 247K | 212K | -61K |
| Pretax income | -62.3M | -89.3M | -65M | -66.4M | -66.3M | -59.5M | -59.7M | -50.9M | -41.4M | -38.8M | -42.6M | -42.7M |
| Income tax | — | — | — | — | — | — | — | — | — | — | — | — |
| Net income | -62.3M | -89.3M | -65M | -66.4M | -66.3M | -59.9M | -59.7M | -50.9M | -41.4M | -38.8M | -42.6M | -42.7M |
| Net margin | -283.1K% | 202.9K% | -295.5K% | — | — | — | — | — | — | — | — | -919.8% |
| EBITDA | -58.7M | -68.5M | -65.9M | -57.8M | -52.3M | -56.2M | -56.5M | -45.2M | -38M | -35.4M | -39.4M | -39.7M |
| EPS | -0.37 | — | -0.38 | -0.35 | -0.32 | -0.28 | -0.28 | -0.23 | -0.19 | -0.17 | -0.18 | -0.13 |
| Diluted EPS | -0.37 | — | -0.38 | -0.35 | -0.32 | -0.28 | -0.28 | -0.23 | -0.19 | -0.17 | -0.18 | -0.13 |
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 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|---|
| Market cap | — | 779.6M | — | — | — | 900.4M | 503.8M | — | — | 563.2M |
| Enterprise value | — | 354.7M | — | — | — | 484.2M | 150.2M | — | — | 316.5M |
| Shares outstanding | — | 28.9M | 101.1M | 120.4M | 135.8M | 143.1M | 156.9M | 194.8M | 220.6M | 220.6M |
| Metric | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|---|
| P/E | — | — | — | — | — | — | — | — | — | -1.87 |
| P/S | — | — | — | — | — | 5.8K | 5.3K | — | — | 122.9 |
| P/B | — | 1.11 | — | — | — | 1.35 | 0.98 | — | — | 1.31 |
| EV/EBITDA | — | -1.72 | — | — | — | -1.51 | -0.52 | — | — | -1.88 |
| EV/Sales | — | — | — | — | — | 3.1K | 1.6K | — | — | 68.2 |
| Earnings yield | — | — | — | — | — | — | — | — | — | -53.5% |
| FCF yield | — | -6.14% | — | — | — | -25.1% | -47.5% | — | — | -11.3% |
| PEG | — | — | — | — | — | — | — | — | — | 0.04 |
| Metric | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating margin | — | — | — | — | -157.9% | -215.1K% | -331K% | -1.2M% | — | -1K% |
| Net margin | — | — | — | — | -159.6% | -218.2K% | -344.5K% | -1.2M% | — | 0% |
| ROE | — | -30.1% | -29.3% | -29.3% | -19.7% | -51% | -63.9% | -61% | -65.3% | -42.4% |
| ROA | — | -27.3% | -25.7% | -25.8% | -17.3% | -41.4% | -50.9% | -46.9% | -45.9% | -22.1% |
| ROIC | — | -69.3% | -133.3% | -84.5% | -33.3% | — | — | -116.8% | -164.8% | -164.8% |
| Return on tangible assets | — | -27.4% | -25.7% | -25.8% | -17.3% | -41.4% | -50.9% | -46.9% | -45.9% | -30.1% |
| Metric | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|---|
| Current ratio | — | 15.9 | 16.5 | 8.96 | 9.84 | 9.84 | 12.4 | 8.54 | 7.93 | 10.7 |
| Quick ratio | — | 15.9 | 16.5 | 8.96 | 9.84 | 9.84 | 12.4 | 8.54 | 7.93 | 10.7 |
| Debt / equity | — | 0.05 | 0.08 | 0.05 | 0.08 | 0.15 | 0.19 | 0.21 | 0.28 | 0.18 |
| Debt / assets | — | 0.04 | 0.07 | 0.04 | 0.07 | 0.12 | 0.15 | 0.17 | 0.2 | 0.13 |
| Net debt / EBITDA | — | 2.06 | 2.42 | 3.09 | 2.26 | 1.3 | 1.23 | 0.89 | 0.95 | 1.72 |
| Interest coverage | — | -62 | — | — | — | — | — | -1.4K | -176.6 | -126.3 |
| Effective tax rate | — | 0% | 0% | 0% | 0% | — | — | 0% | 0% | 0% |
| Metric | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue per share | — | 0 | 0 | 0 | 0.84 | 0 | 0 | 0 | 0 | 0.02 |
| EPS (basic) | — | -7.31 | -1.83 | -2.08 | -1.89 | -2.32 | -2.09 | -1.32 | -0.87 | -0.87 |
| EPS (diluted) | — | -7.31 | -1.83 | -2.08 | -1.89 | -2.32 | -2.09 | -1.32 | -0.87 | -0.66 |
| Book value per share | — | 24.3 | 6.22 | 8.97 | 6.81 | 4.66 | 3.26 | 2.17 | 1.33 | 1.26 |
| FCF per share | — | -1.65 | -1.86 | -1.5 | -1.52 | -1.58 | -1.52 | -1.03 | -0.68 | -0.31 |
| Cash per share | — | 15.9 | 5.25 | 6.88 | 3.37 | 3.61 | 2.86 | 1.5 | 1.13 | 0.96 |
| Capex per share | — | 0.11 | 0.5 | 0.55 | 0.16 | 0.04 | 0.01 | 0 | — | — |
| Metric | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|---|
| Capex / revenue | — | — | — | — | 18.8% | 3.3K% | 1.6K% | 3.2K% | — | — |
| Capex / operating cash flow | — | -4.71% | -35.9% | -32.8% | -10.6% | -2.16% | -0.59% | -0.33% | — | — |
| Payout ratio | — | — | — | — | — | — | — | — | — | 0% |
| — |
| -$1.89 |
| — |
| — |
| $114.1M |
| — |
| FY20 | — | -$2.08 | — | — | $0 | — |
| FY19 | — | -$1.83 | — | — | $0 | — |
| FY18 | — | -$7.31 | — | — | $0 | — |
| 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 | $22K | -$44K | $22K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $4.6M |
| YoY change | -55.1% | -193.6% | -26.7% | -100% | -100% | +100% | -100% | 0% | 0% | 0% | 0% | +InfinityT% |
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 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|
| Cash & short-term investments | 0 | 459.4M | 530.5M | 827.9M | 457.3M | 517.3M | 448.7M | 292.5M | 250.2M |
| Receivables | — | — | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — | — | — |
| Total current assets | 0 | 468M | 544.6M | 845.1M | 471.3M | 528.8M | 459.1M | 303.4M | 257.7M |
| Property, plant & equipment | — | 41.6M | 100.9M | 160.1M | 181M | 196.4M | 163.2M | 131.3M | 112.7M |
| Goodwill & intangibles | 0 | 1.5M | 302K | 0 | — | — | — | — | — |
| Total assets | 0 | 773.9M | 717.8M | 1.2B | 1.1B | 821.6M | 642.8M | 548.7M | 415.9M |
| Accounts payable | 0 | 12.3M | 9.3M | 10.4M | 10.3M | 13.9M | 5.9M | 5.4M | 4.3M |
| Short-term debt | — | — | 1.7M | 3M | 3.2M | 6M | 6.8M | 7.5M | 8.2M |
| Total current liabilities | 2K | 29.5M | 33.1M | 94.3M | 47.9M | 53.7M | 37.1M | 35.5M | 32.5M |
| Long-term debt | — | 34.5M | 51.3M | 50.8M | 69.9M | 95.1M | 88.3M | 83.2M | 75M |
| Total liabilities | 2K | 70.7M | 88.8M | 148.2M | 125.6M | 154.7M | 130.6M | 126.5M | 123.4M |
| Shareholders' equity | -2K | 703.2M | 629M | 1.1B | 925.2M | 666.9M | 512.2M | 422.2M | 292.5M |
| Total debt | — | 34.5M | 53M | 53.8M | 73.1M | 101.1M | 95.1M | 90.8M | 83.3M |
| Net debt | — | -58M | -122.1M | -129.6M | -100.2M | 39.2M | 12M | 15.5M | 31.6M |
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 | 465.5M | 448.7M | 384.9M | 444.6M | 291.6M | 292.5M | 280M | 273.1M | 252.2M | 250.2M | 266.9M | 332.6M |
| Receivables | — | — | — | — | — | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current assets | 473.5M | 459.1M | 395.4M | 457.1M | 304.4M | 303.4M | 291.6M | 282.7M | 260.7M | 257.7M | 273.3M | 340M |
| Property, plant & equipment | 181.5M | 163.2M | 160.4M | 150.5M | 135.3M | 131.3M | 127.1M | 120.8M | 116.8M | 112.7M | 108.8M | 105.1M |
| Goodwill & intangibles | — | — | — | — | — | — | — | — | — | — | — | — |
| Total assets | 712.3M | 642.8M | 586.4M | 646.9M | 589.1M | 548.7M | 508M | 470.6M | 439.8M | 415.9M | 396M | 550.1M |
| Accounts payable | 6.2M | 5.9M | 5.8M | 12.9M | 5.5M | 5.4M | 5.1M | 4.9M | 3.7M | 4.3M | 4.9M | 6M |
| Short-term debt | — | 6.8M | — | — | — | 7.5M | — | — | — | 8.2M | — | — |
| Total current liabilities | 37.6M | 37.1M | 30.9M | 37.3M | 32.6M | 35.5M | 30M | 31.7M | 31.8M | 32.5M | 28.3M | 31.7M |
| Long-term debt | 90.1M | 88.3M | 88.9M | 87M | 85.1M | 83.2M | 81.3M | 79.2M | 77.1M | 75M | 72.6M | 70.4M |
| Total liabilities | 129.2M | 130.6M | 125M | 131.8M | 125.4M | 126.5M | 122.6M | 126M | 124.4M | 123.4M | 117.1M | 113.9M |
| Shareholders' equity | 583.1M | 512.2M | 461.4M | 515M | 463.7M | 422.2M | 385.4M | 344.6M | 315.3M | 292.5M | 278.9M | 436.2M |
| Total debt | 90.1M | 95.1M | 88.9M | 87M | 85.1M | 90.8M | 81.3M | 79.2M | 77.1M | 83.3M | 72.6M | 70.4M |
| Net debt | 20.9M | 12M | 37.9M | -83.7M | 33.9M | 15.5M | 38.8M | 26.9M | 39.3M | 31.6M | 42.3M | 31.7M |
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 | -211.5M | -184.6M | -316.4M | -182.1M | -340.4M | -327.3M | -257.6M | -190.9M |
| Depreciation & amortization | 1.5M | 5M | 7.6M | 10.5M | 14.3M | 14.2M | 13.6M | 12.4M |
| Stock-based compensation | 18.6M | 46.1M | 65.3M | 80.8M | 83.6M | 66M | 51.7M | 37.6M |
| Change in working capital | 8.3M | -14.6M | 38.4M | -38.8M | -369K | -9.6M | -23M | -11.6M |
| Operating cash flow | -68.6M | -141.6M | -201.2M | -202.7M | -240.6M | -256.1M | -209.6M | -149.2M |
| Capital expenditure | -3.2M | -50.8M | -66M | -21.4M | -5.2M | -1.5M | -694K | — |
| Investing cash flow | -632.8M | 164.1M | -505.1M | 163.7M | 106.2M | 163.3M | 75.7M | 95.9M |
| Dividends paid | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — |
| Financing cash flow | 759.8M | 54.2M | 621.9M | 0 | 0 | 91.1M | 114.3M | 29.3M |
| Net change in cash | 58.4M | 76.7M | -84.4M | -39.1M | -134.4M | -1.7M | -19.5M | -24M |
| Free cash flow | -47.9M | -188.1M | -181.1M | -206.3M | -225.7M | -239.2M | -201M | -149.6M |
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 | -62.3M | -89.3M | -65M | -66.4M | -66.3M | -59.9M | -59.7M | -50.9M | -41.4M | -38.8M | -42.6M | -42.7M |
| Depreciation & amortization | 3.6M | 3.5M | 3.6M | 3.6M | 3.2M | 3.2M | 3.1M | 3.1M | 3.1M | 3.1M | 2.9M | 2.6M |
| Stock-based compensation | 15.4M | 15.2M | 11.9M | 13.6M | 13.4M | 12.9M | 12.2M | 8.7M | 8.7M | 8.1M | 8.3M | 12.4M |
| Change in working capital | -4.3M | -1.2M | 1.3M | 8.7M | -8.2M | 588K | -2.4M | -5.8M | -2.2M | -1.1M | 22.3M | -822K |
| Operating cash flow | -43.1M | -71.7M | -48.3M | -41.7M | -56.5M | -42.1M | -45.8M | -39M | -29.7M | -27.6M | -12.9M | -32M |
| Capital expenditure | -12K | -181K | -8K | 0 | -429K | -257K | -99K | — | — | — | — | — |
| Investing cash flow | -34.3M | 67.5M | 22.1M | 74.6M | -76M | 54.9M | 6.2M | 43.9M | 12.2M | 33.6M | -29.6M | -147.4M |
| Dividends paid | — | — | — | — | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — | — | — | — | — |
| Financing cash flow | 3.2M | 0 | — | 106.3M | 0 | 5.7M | 13.4M | 5.1M | 3M | 7.9M | 20.7M | 187.9M |
| Net change in cash | -74.2M | -4.2M | -26.1M | 139.2M | -132.5M | 18.5M | -26.2M | 9.9M | -14.5M | 13.9M | -21.8M | 8.5M |
| Free cash flow | -55.5M | -53.9M | -55.9M | -63.6M | -44.5M | -37M | -53M | -39.1M | -29.9M | -27.6M | -12.9M | -32.1M |