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 | -$0.16 | -$0.11 | +31.3% | — | $0 | — |
| Q1 26 | -$0.16 | -$0.15 | +6.3% | — | $0 | — |
| Q3 25 | -$0.37 | -$0.41 | -10.8% | — | $0 | — |
| Q2 25 | -$0.31 | -$0.44 | -41.9% | — | $0 | — |
| Q1 25 | -$0.31 | -$0.48 | -54.8% | — | $0 | — |
| Q4 24 | -$0.39 | -$0.44 | -12.8% | — | $0 | — |
| Q3 24 | -$0.66 | -$0.58 | +12.1% | — | $0 | — |
| Q2 24 | -$0.7 | -$0.62 | +11.4% | — | $0 | — |
| Q1 24 | -$0.71 | -$0.71 | 0.0% | — | $0 | — |
| Q4 23 | -$0.84 | -$0.79 | +6.0% | — | $0 | — |
| Q3 23 | -$0.87 | -$1.24 | -42.5% | — | $0 | — |
| Q2 23 | -$0.88 | -$0.84 | +4.5% | — | $0 | — |
| Q1 23 | -$0.8 | -$0.74 | +7.5% | — | $0 | — |
| Q4 22 | -$0.89 | -$0.75 | +15.7% | — | $0 | — |
| Q3 22 | -$0.77 | -$0.87 | -13.0% | — | $0 | — |
| Q2 22 | -$0.63 | -$0.81 | -28.6% | — | $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 | — | -$1.9 | — | — | $0 | — |
| FY24 | — | -$2.58 | — | — | $0 | — |
| FY23 | — | -$3.74 | — | — | $0 | — |
| FY22 | — | -$3.03 | — | — | $0 | — |
| 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 | $2.1M | $4.8M | $1.2M | $0 | $0 | $0 | $0 | $0 |
| YoY change | — | +132% | -75.4% | -100% | 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.
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 | 2.1M | 4.8M | 1.2M | 0 | 0 | 0 | 0 | 0 |
| Cost of revenue | 1.9M | 4.4M | 1.1M | 0 | 0 | — | — | — |
| Gross profit | 187K | 436K | 107K | 0 | 0 | — | — | — |
| Gross margin | 9.05% | 9.09% | 9.05% | — | — | — | — | — |
| Research & development | 11.3M | 16.3M | 29M | 60.2M | 98.4M | 141.8M | 116.4M | 77M |
| Selling, general & administrative | 2.6M | 3.3M | 14.8M | 23.4M | 29M | 28.5M | 26.1M | 23.9M |
| Operating expenses | 13.9M | 19.6M | 43.8M | 83.6M | 127.4M | 170.3M | 142.5M | 100.8M |
| Operating income | -13.7M | -19.2M | -43.7M | -83.6M | -127.4M | -170.3M | -142.5M | -100.8M |
| Operating margin | -662% | -400% | -3.7K% | — | — | — | — | — |
| Non-operating income, net | -2K | -5K | -2M | -7K | -22K | 389K | -20K | -3.2M |
| Pretax income | -13.7M | -19.2M | -45.5M | -83.5M | -123.4M | -160.8M | -134.8M | -101.7M |
| Income tax | 45K | 34K | 241K | -21K | 64K | 0 | 0 | 0 |
| Net income | -13.7M | -19.2M | -45.7M | -83.5M | -123.5M | -160.8M | -134.8M | -101.7M |
| Net margin | -664.3% | -401.2% | -3.9K% | — | — | — | — | — |
| EBITDA | -13.3M | -18.8M | -42.8M | -83.4M | -122.8M | -158.4M | -132.2M | -96.2M |
| EPS | -0.79 | -1.06 | -2.76 | -2.07 | -3.03 | -3.74 | -2.58 | -1.9 |
| Diluted EPS | -0.79 | -1.06 | -2.76 | -2.07 | -3.03 | -3.74 | -2.58 | -1.9 |
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 | 45.8M | 41.8M | 31.7M | 34.7M | 26.5M | 23.5M | 23.9M | 18M | 17.4M | 17.6M | 13.6M | 13.1M |
| Selling, general & administrative | 7.5M | 6.2M | 6M | 6.9M | 6.1M | 7.1M | 7.9M | 5.5M | 5.1M | 5.4M | 5.4M | 5.1M |
| Operating expenses | 53.3M | 48M | 37.8M | 41.5M | 32.6M | 30.6M | 31.8M | 23.5M | 22.5M | 23M | 19M | 18.3M |
| Operating income | -53.3M | -48M | -37.8M | -41.5M | -32.6M | -30.6M | -31.8M | -23.5M | -22.5M | -23M | -19M | -18.3M |
| Operating margin | — | — | — | — | — | — | — | — | — | — | — | — |
| Non-operating income, net | -1K | -29K | -14K | -8K | 3K | -1K | -11K | -3.2M | -6K | -17K | 188K | -923K |
| Pretax income | -51M | -45.5M | -35.6M | -39.4M | -30.7M | -29.2M | -30.8M | -25.9M | -22.1M | -22.8M | -17.9M | -18M |
| Income tax | — | — | — | — | — | — | — | — | — | — | — | — |
| Net income | -51M | -45.5M | -35.6M | -39.4M | -30.7M | -29.2M | -30.8M | -25.9M | -22.1M | -22.8M | -17.9M | -18M |
| Net margin | — | — | — | — | — | — | — | — | — | — | — | — |
| EBITDA | -50.4M | -44.9M | -34.9M | -38.8M | -30M | -28.5M | -30.1M | -22.2M | -21.6M | -22.3M | -17.4M | -16.9M |
| EPS | -1.24 | — | -0.71 | -0.76 | -0.58 | -0.55 | -0.58 | -0.49 | -0.41 | -0.42 | -0.17 | -0.13 |
| Diluted EPS | -1.24 | — | -0.71 | -0.76 | -0.58 | -0.55 | -0.58 | -0.49 | -0.41 | -0.42 | -0.17 | -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 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Market cap | — | — | — | — | 458.7M | 640.1M | — | 60.6M | 192.2M |
| Enterprise value | — | — | — | — | 202.9M | 474.5M | — | 25.6M | 54M |
| Shares outstanding | 22M | 22M | 18.5M | 40.3M | 40.7M | 43M | 52.2M | 53.7M | 53.7M |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| P/E | — | — | — | — | — | — | — | — | -0.74 |
| P/B | — | — | — | — | 1.74 | 3.37 | — | 2.33 | 1.45 |
| EV/EBITDA | — | — | — | — | -1.65 | -3 | — | -0.27 | -0.66 |
| Earnings yield | — | — | — | — | — | — | — | — | -135.7% |
| FCF yield | — | — | — | — | -19.8% | -20.6% | — | -139.1% | -21.4% |
| PEG | — | — | — | — | — | — | — | — | 0.01 |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Gross margin | 9.05% | 9.09% | 9.05% | — | — | — | — | — | — |
| Operating margin | -662% | -400% | -3.7K% | — | — | — | — | — | 0% |
| Net margin | -664.3% | -401.2% | -3.9K% | — | — | — | — | — | 0% |
| ROE | -150% | 7K% | -10.6% | -23% | -46.9% | -84.8% | -118.7% | -391.4% | -80.6% |
| ROA | -123% | -180.2% | -10.5% | -22% | -40.3% | -66.3% | -91.3% | -172.2% | -40.4% |
| ROIC | -1.5K% | 495.4% | 998.2% | -67.4K% | -1.7K% | -704.4% | 3.4K% | 1.1K% | 1.1K% |
| Return on tangible assets | -123% | -180.2% | -10.5% | -22% | -40.3% | -66.3% | -91.3% | -172.2% | -50.3% |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Current ratio | 5.45 | 1.97 | 70.3 | 24 | 9.57 | 5.24 | 7.26 | 2.07 | 9.71 |
| Quick ratio | 5.45 | 1.97 | 70.3 | 24 | 9.57 | 5.24 | 7.26 | 2.07 | 9.71 |
| Debt / equity | — | -19.6 | — | 0 | 0.04 | 0.09 | 0.09 | 0.38 | 0.08 |
| Debt / assets | — | 0.51 | — | 0 | 0.03 | 0.07 | 0.07 | 0.17 | 0.06 |
| Net debt / EBITDA | — | 0.19 | — | 4.35 | 2.08 | 1.05 | 0.89 | 0.36 | 1.64 |
| Interest coverage | — | -913.7 | -53.8 | -6.4K | -517.6 | -101.8 | -77 | -62.5 | -56.5 |
| 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 | 0.09 | 0.22 | 0.06 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (basic) | -0.79 | -1.06 | -2.76 | -2.07 | -3.03 | -3.74 | -2.58 | -1.9 | -1.9 |
| EPS (diluted) | -0.79 | -1.06 | -2.76 | -2.07 | -3.03 | -3.74 | -2.58 | -1.9 | -1.15 |
| Book value per share | 0.42 | -0.01 | 23.3 | 9.01 | 6.47 | 4.41 | 2.18 | 0.48 | 0.98 |
| FCF per share | -0.63 | -0.67 | -2.07 | -1.81 | -2.23 | -3.06 | -2.35 | -1.57 | -0.52 |
| Cash per share | 0.38 | 0.41 | 23.5 | 9.02 | 6.54 | 4.25 | 2.45 | 0.83 | 1 |
| Capex per share | 0.03 | 0.02 | 0 | 0.02 | 0.04 | 0.03 | 0.01 | — | — |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Capex / revenue | 31.6% | 7.36% | 2.62% | — | — | — | — | — | — |
| Capex / operating cash flow | -4.68% | -2.33% | -0.07% | -0.95% | -1.52% | -0.95% | -0.43% | — | — |
| Payout ratio | — | — | — | — | — | — | — | — | 0% |
| -$2.07 |
| — |
| — |
| $0 |
| — |
| FY20 | — | -$2.76 | — | — | $1.2M | — |
| FY19 | — | -$1.06 | — | — | $4.8M | — |
| FY18 | — | -$0.79 | — | — | $2.1M | — |
| 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 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|
| Cash & short-term investments | 8.3M | 9M | 434.2M | 363.7M | 266.2M | 182.7M | 127.8M | 44.8M |
| Receivables | — | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — | — |
| Total current assets | 10.2M | 9.8M | 436M | 367M | 271M | 188.7M | 134.4M | 50.7M |
| Property, plant & equipment | 956K | 860K | 52K | 3.5M | 9.8M | 10.8M | 9.6M | 3.9M |
| Goodwill & intangibles | — | — | — | — | — | — | — | — |
| Total assets | 11.2M | 10.7M | 436.1M | 380.2M | 306.5M | 242.6M | 147.8M | 59M |
| Accounts payable | 697K | 3.7M | 4K | 3.8M | 8.1M | 8.6M | 4.5M | 4.9M |
| Short-term debt | — | — | — | 742K | 1M | 1.6M | 435K | 5.2M |
| Total current liabilities | 1.9M | 5M | 6.2M | 15.3M | 28.3M | 36M | 18.5M | 24.6M |
| Long-term debt | — | 5.4M | — | — | 9.4M | 15.6M | 9.5M | 4.5M |
| Total liabilities | 2M | 11M | 6.2M | 17.1M | 43M | 52.8M | 34.2M | 33.1M |
| Shareholders' equity | 9.2M | -276K | 429.8M | 363M | 263.5M | 189.7M | 113.6M | 26M |
| Total debt | — | 5.4M | — | 742K | 10.4M | 17.2M | 9.9M | 9.7M |
| Net debt | — | -3.6M | — | -362.9M | -38.4M | -5.2M | -7.7M | -6.6M |
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 | 190M | 182.7M | 157.4M | 156.7M | 148.6M | 127.8M | 97.8M | 79.3M | 60.6M | 44.8M | 140.3M | 138.2M |
| Receivables | — | — | — | — | — | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current assets | 199.1M | 188.7M | 167.9M | 168.7M | 155.9M | 134.4M | 102.5M | 85.3M | 66.5M | 50.7M | 145.6M | 143.5M |
| Property, plant & equipment | 9.8M | 10.8M | 10.2M | 10.7M | 10.3M | 9.6M | 9M | 5.1M | 4.4M | 3.9M | 3.3M | 1.4M |
| Goodwill & intangibles | — | — | — | — | — | — | — | — | — | — | — | — |
| Total assets | 220.1M | 242.6M | 212.7M | 214.6M | 185.7M | 147.8M | 120.9M | 95.3M | 82.7M | 59M | 178.3M | 160.8M |
| Accounts payable | 13M | 8.6M | 6.2M | 8.1M | 7.9M | 4.5M | 3.9M | 4.9M | 6.6M | 4.9M | 3.9M | 3M |
| Short-term debt | — | 1.6M | — | — | — | 435K | 1.7M | 3M | 4.3M | 5.2M | 5.2M | — |
| Total current liabilities | 35.1M | 36M | 32.2M | 38.4M | 32.3M | 18.5M | 18.7M | 18.8M | 27.7M | 24.6M | 20.2M | 14.8M |
| Long-term debt | 9.6M | 15.6M | 9.7M | 9.8M | 9.8M | 9.5M | 8.2M | 7M | 5.8M | 4.5M | 3.3M | 9.7M |
| Total liabilities | 51.4M | 52.8M | 48.5M | 55.3M | 48.9M | 34.2M | 32.6M | 30.9M | 37.9M | 33.1M | 27M | 24.6M |
| Shareholders' equity | 168.8M | 189.7M | 164.2M | 159.3M | 136.8M | 113.6M | 88.3M | 64.4M | 44.8M | 26M | 151.3M | 136.2M |
| Total debt | 9.6M | 17.2M | 9.7M | 9.8M | 9.8M | 9.9M | 10M | 10M | 10.1M | 9.7M | 8.5M | 9.7M |
| Net debt | -10M | -5.2M | -4.3M | -5.8M | -6.3M | -7.7M | -10.6M | -9.3M | -13.3M | -6.6M | -23.8M | -13M |
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 | -13.7M | -19.2M | -45.7M | -83.5M | -123.5M | -160.8M | -134.8M | -101.7M |
| Depreciation & amortization | 431K | 429K | 202K | 51K | 342K | 836K | 872K | 706K |
| Stock-based compensation | 269K | 297K | 5.4M | 13.9M | 23.8M | 26.3M | 27.1M | 12.6M |
| Change in working capital | -929K | 3.4M | -3.2M | -5.7M | 4.3M | -1.6M | 886K | -2.3M |
| Operating cash flow | -14M | -15.1M | -43M | -69.7M | -93.8M | -133.8M | -103.9M | -84.1M |
| Capital expenditure | -653K | -353K | -31K | -666K | -1.4M | -1.3M | -447K | — |
| Investing cash flow | -653K | -353K | 610K | -666K | -235.4M | 44.7M | 86.3M | 82.8M |
| Dividends paid | — | — | — | — | — | — | — | — |
| Share repurchases | -6K | 0 | 0 | — | — | — | — | — |
| Financing cash flow | -6K | 15.3M | 462.6M | -281K | 9M | 58.5M | 28.8M | 324K |
| Net change in cash | -14.6M | -126K | 420.1M | -70.7M | -320.3M | -30.7M | 11.1M | -1M |
| Free cash flow | -13.8M | -14.6M | -38.3M | -73M | -90.7M | -131.6M | -122.4M | -84.4M |
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 | -51M | -45.5M | -35.6M | -39.4M | -30.7M | -29.2M | -30.8M | -25.9M | -22.1M | -22.8M | -17.9M | -18M |
| Depreciation & amortization | 209K | 207K | 214K | 220K | 224K | 214K | 211K | 191K | 153K | 151K | 150K | 86K |
| Stock-based compensation | 7M | 6.7M | 7M | 7.3M | 7M | 5.9M | 5.2M | 2.1M | 2.5M | 2.7M | 2.5M | 2.7M |
| Change in working capital | 8.2M | -8.8M | -2.8M | 3.2M | -417K | 928K | -1.1M | 0 | -4.1M | 2.8M | -1.3M | -1.1M |
| Operating cash flow | -35.3M | -46.9M | -30.6M | -28.3M | -23.4M | -21.6M | -25.8M | -23.4M | -17.1M | -19M | -18.6M | -16.1M |
| Capital expenditure | 1.3M | -148K | -148K | -90K | -149K | -60K | -60K | — | — | — | — | — |
| Investing cash flow | 12.8M | -16.7M | 26.5M | 907K | 25.7M | 33.2M | 27.6M | 22.4M | 21.4M | 11.3M | -105M | 6.5M |
| Dividends paid | — | — | — | — | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — | — | — | — | — |
| Financing cash flow | -111K | -63K | 2.8M | 26M | -283K | -29.4M | 65K | -237K | -160K | -1M | 138.9M | -10M |
| Net change in cash | -22.6M | -63.7M | -1.3M | -1.4M | 2M | -17.8M | 1.9M | -1.3M | 4.2M | -8.7M | 15.3M | -19.5M |
| Free cash flow | -29.9M | -39.8M | -38.1M | -26.7M | -25.5M | -32.1M | -24.7M | -23.5M | -17.1M | -19M | -18.7M | -16.1M |