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 | -$0.24 | -$0.28 | -16.7% | — | $0 | — |
| Q1 26 | -$0.3 | -$0.23 | +23.3% | — | $0 | — |
| Q4 25 | -$0.32 | -$0.28 | +12.5% | — | $0 | — |
| Q3 25 | -$0.34 | -$0.37 | -8.8% | — | $0 | — |
| Q2 25 | -$0.36 | -$0.34 | +5.6% | — | $0 | — |
| Q1 25 | -$0.29 | -$0.37 | -27.6% | — | $0 | — |
| Q4 24 | -$0.29 | -$0.33 | -13.8% | — | $0 | — |
| Q3 24 | -$0.27 | -$0.25 | +7.4% | — | $0 | — |
| Q2 24 | -$0.24 | -$0.23 | +4.2% | — | $0 | — |
| Q1 24 | -$0.35 | -$0.21 | +40.0% | — | $0 | — |
| Q4 23 | -$0.48 | -$0.36 | +25.0% | — | $0 | — |
| Q3 23 | -$0.51 | -$0.43 | +15.7% | — | $0 | — |
| Q2 23 | -$0.54 | -$0.47 | +13.0% | — | $0 | — |
| Q1 23 | -$0.52 | -$0.52 | 0.0% | — | $0 | — |
| Q4 22 | -$0.53 | -$0.48 | +9.4% | — | $0 | — |
| Q3 22 | -$0.92 | -$0.51 | +44.6% | — | $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 | — | -$1.34 | — | — | $0 | — |
| FY24 | — | -$1.01 | — | — | $0 | — |
| FY23 | — | -$1.77 | — | — | $0 | — |
| FY22 | — | -$2.6 | — | — | $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 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| YoY change | — | 0% | 0% | 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 |
|---|
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 | 0 | 0 | 0 | 0 | 0 |
| Cost of revenue | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — | — |
| Research & development | 15.5M | 24.5M | 49.3M | 100.1M | 112.5M | 113.8M | 119.4M | 184.7M |
| Selling, general & administrative | 3.6M | 8M | 14.2M | 30.6M | 30.9M | 28M | 32M | 29.1M |
| Operating expenses | 19.1M | 32.5M | 63.5M | 130.7M | 143.4M | 141.8M | 151.5M | 213.8M |
| Operating income | -19.1M | -32.5M | -63.5M | -130.7M | -145.6M | -143.7M | -154.1M | -216.4M |
| Operating margin | — | — | — | — | — | — | — | — |
| Non-operating income, net | 844K | -4.7M | 57K | — | — | — | — | — |
| Pretax income | -18.3M | -37.2M | -63.4M | -130.3M | -141.9M | -134.2M | -138.2M | -206.7M |
| Income tax | 1K | 4K | 0 | — | — | — | — | — |
| Net income | -18.3M | -37.2M | -63.4M | -130.3M | -141.9M | -134.2M | -138.2M | -206.7M |
| Net margin | — | — | — | — | — | — | — | — |
| EBITDA | -18.7M | -32M | -62.8M | -128.6M | -143.4M | -141.6M | -151.5M | -213.8M |
| EPS | -1.61 | -2.92 | -4.15 | -3.4 | -2.6 | -1.77 | -1.01 | -1.34 |
| Diluted EPS | -1.61 | -2.92 | -4.15 | -3.4 | -2.6 | -1.77 | -1.01 | -1.34 |
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 | 27.9M | 23.3M | 21M | 25M | 30.1M | 43.4M | 48.2M | 44.2M | 49.7M | 42.7M | 35.8M | 46.6M |
| Selling, general & administrative | 6.9M | 4.8M | 7.6M | 7.9M | 9.3M | 6.5M | 9.2M | 7M | 7.3M | 4.9M | 9.6M | 10.1M |
| Operating expenses | 34.8M | 28.1M | 28.6M | 32.9M | 39.4M | 49.9M | 57.4M | 51.1M | 57M | 47.6M | 45.4M | 56.7M |
| Operating income | -34.8M | -30M | -28.6M | -33.6M | -39.4M | -52.5M | -57.4M | -51.7M | -57M | -50.3M | -46.1M | -57.2M |
| Operating margin | — | — | — | — | — | — | — | — | — | — | — | — |
| Non-operating income, net | — | — | — | — | — | — | — | — | — | — | — | — |
| Pretax income | -32.5M | -27.9M | -25.2M | -29.6M | -34.8M | -48.6M | -54.4M | -49.2M | -54.9M | -48.3M | -44.1M | -55.3M |
| Income tax | — | — | — | — | — | — | — | — | — | — | — | — |
| Net income | -32.5M | -27.9M | -25.2M | -29.6M | -34.8M | -48.6M | -54.4M | -49.2M | -54.9M | -48.3M | -44.1M | -55.3M |
| Net margin | — | — | — | — | — | — | — | — | — | — | — | — |
| EBITDA | -34.2M | -29.5M | -28M | -32.9M | -38.9M | -51.9M | -56.9M | -51.1M | -56.5M | -49.7M | -45.4M | -56.7M |
| EPS | -0.43 | — | -0.21 | -0.23 | -0.25 | -0.33 | -0.37 | -0.34 | -0.37 | -0.28 | -0.23 | -0.28 |
| Diluted EPS | -0.43 | — | -0.21 | -0.23 | -0.25 | -0.33 | -0.37 | -0.34 | -0.37 | -0.28 | -0.23 | -0.28 |
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 | — | — | — | — | — | — | — | — | 760.2M |
| Enterprise value | — | — | — | — | — | — | — | — | 575.6M |
| Shares outstanding | 11.5M | 13.1M | 17M | 38.3M | 54.7M | 75.7M | 137.4M | 155.1M | 155.1M |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| P/E | — | — | — | — | — | — | — | — | -2.99 |
| P/B | — | — | — | — | — | — | — | — | 3.76 |
| EV/EBITDA | — | — | — | — | — | — | — | — | -2.76 |
| Earnings yield | — | — | — | — | — | — | — | — | -33.5% |
| FCF yield | — | — | — | — | — | — | — | — | -15.3% |
| PEG | — | — | — | — | — | — | — | — | 0.17 |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Operating margin | — | — | — | — | — | — | — | — | 0% |
| Net margin | — | — | — | — | — | — | — | — | 0% |
| ROE | -48.3% | -85.4% | -18.4% | -56.2% | -61.4% | -53.6% | -47.2% | -97.7% | -105.3% |
| ROA | -38% | -74.5% | -17.8% | -45.4% | -49.8% | -45.1% | -39.5% | -74.5% | -51.5% |
| ROIC | 304.2% | 8.1K% | 916.1% | — | — | — | — | — | — |
| Return on tangible assets | -38% | -74.5% | -17.8% | -45.4% | -49.8% | -45.1% | -39.5% | -74.5% | -82.4% |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Current ratio | 13.7 | 9.21 | 33.3 | 11.4 | 11.1 | 14.7 | 10.4 | 5.68 | 5.53 |
| Quick ratio | 13.7 | 9.21 | 33.3 | 11.4 | 11.1 | 14.7 | 10.4 | 5.68 | 5.53 |
| Debt / equity | — | — | 0 | 0.15 | 0.14 | 0.13 | 0.1 | 0.12 | 0.13 |
| Debt / assets | — | — | 0 | 0.12 | 0.12 | 0.11 | 0.08 | 0.09 | 0.1 |
| Net debt / EBITDA | — | — | 5.59 | 1.62 | 1.46 | 1.61 | 1.87 | 0.99 | 0.89 |
| Effective tax rate | 0% | 0% | 0% | — | — | — | — | — | — |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Revenue per share | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (basic) | -1.61 | -2.92 | -4.15 | -3.4 | -2.6 | -1.77 | -1.01 | -1.34 | -1.34 |
| EPS (diluted) | -1.61 | -2.92 | -4.15 | -3.4 | -2.6 | -1.77 | -1.01 | -1.34 | -1.24 |
| Book value per share | 3.31 | 3.32 | 20.3 | 6.05 | 4.23 | 3.31 | 2.13 | 1.36 | 1.07 |
| FCF per share | -1.5 | -2.18 | -3.16 | -2.81 | -2.25 | -1.6 | -0.86 | -1.2 | -0.96 |
| Cash per share | 3.86 | 3.35 | 20.7 | 6.33 | 4.44 | 3.43 | 2.27 | 1.54 | 1.1 |
| Capex per share | 0 | 0.02 | 0.03 | 0.04 | 0.12 | 0 | 0 | — | — |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Capex / operating cash flow | -0.09% | -0.94% | -0.82% | -1.57% | -5.34% | -0.17% | -0.01% | — | — |
| Payout ratio | — | — | — | — | — | — | — | — | 0% |
| -$3.4 |
| — |
| — |
| $0 |
| — |
| FY20 | — | -$4.15 | — | — | $0 | — |
| FY19 | — | -$2.92 | — | — | $0 | — |
| FY18 | — | -$1.61 | — | — | $0 | — |
| 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 | 44.2M | 43.9M | 351.2M | 242.7M | 242.7M | 259.7M | 312M | 238.3M |
| Receivables | — | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — | — |
| Total current assets | 45.7M | 45.4M | 354M | 247.7M | 248.1M | 263.9M | 316.5M | 242.2M |
| Property, plant & equipment | 2.3M | 2.1M | 1.9M | 38.2M | 36M | 32.8M | 29.3M | 25.8M |
| Goodwill & intangibles | — | — | — | — | — | — | — | — |
| Total assets | 48.1M | 49.9M | 355.9M | 287M | 285.1M | 297.7M | 350.1M | 277.6M |
| Accounts payable | 1.3M | 2.4M | 3.7M | 11.2M | 7.4M | 5.5M | 10.4M | 14.9M |
| Short-term debt | — | — | — | 1.2M | 1.3M | 2.2M | 2.5M | 2.9M |
| Total current liabilities | 3.3M | 4.9M | 10.6M | 21.7M | 22.4M | 17.9M | 30.5M | 42.6M |
| Long-term debt | — | — | 0 | 33.4M | 31.5M | 29.2M | 26.5M | 23.3M |
| Total liabilities | 10.3M | 6.4M | 11.7M | 55.1M | 53.9M | 47.1M | 57M | 65.9M |
| Shareholders' equity | 37.9M | 43.5M | 344.3M | 231.9M | 231.2M | 250.6M | 293.1M | 211.6M |
| Total debt | — | — | 0 | 34.6M | 32.9M | 31.4M | 29M | 26.2M |
| Net debt | — | — | -268.6M | -40.3M | -107.2M | -193.8M | -20.5M | -135.8M |
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 | 165.3M | 259.7M | 264.9M | 368.7M | 340.1M | 312M | 263.7M | 227M | 188.7M | 238.3M | 225M | 209.2M |
| Receivables | — | — | — | — | — | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current assets | 169.2M | 263.9M | 270.7M | 374M | 344.3M | 316.5M | 268.2M | 230.6M | 192.8M | 242.2M | 228.3M | 212.8M |
| Property, plant & equipment | 33.6M | 32.8M | 31.9M | 31.1M | 30.2M | 29.3M | 28.5M | 27.6M | 26.7M | 25.8M | 24.9M | 24M |
| Goodwill & intangibles | — | — | — | — | — | — | — | — | — | — | — | — |
| Total assets | 203.8M | 297.7M | 304.1M | 406.1M | 378.8M | 350.1M | 303M | 264.6M | 229.1M | 277.6M | 262.9M | 246.1M |
| Accounts payable | 4.8M | 5.5M | 4M | 4.1M | 6.7M | 10.4M | 10.4M | 11.5M | 18.2M | 14.9M | 17.5M | 15.7M |
| Short-term debt | 1.7M | 2.2M | 2.3M | 2.3M | 2.4M | 2.5M | 2.6M | 2.7M | 2.8M | 2.9M | 3M | 3.1M |
| Total current liabilities | 17.2M | 17.9M | 13.1M | 17.1M | 20M | 30.5M | 33.5M | 40.6M | 43.6M | 42.6M | 35.9M | 38.5M |
| Long-term debt | 29.8M | 29.2M | 28.5M | 27.9M | 27.2M | 26.5M | 25.7M | 24.9M | 24.1M | 23.3M | 22.4M | 21.5M |
| Total liabilities | 47M | 47.1M | 41.7M | 45M | 47.2M | 57M | 59.2M | 65.6M | 67.7M | 65.9M | 58.4M | 60M |
| Shareholders' equity | 156.8M | 250.6M | 262.4M | 361.1M | 331.6M | 293.1M | 243.8M | 199M | 161.4M | 211.6M | 204.5M | 186.1M |
| Total debt | 31.5M | 31.4M | 30.8M | 30.2M | 29.6M | 29M | 28.3M | 27.6M | 26.9M | 26.2M | 25.4M | 24.7M |
| Net debt | -101.7M | -193.8M | -121.2M | -127.1M | -49.9M | -20.5M | -68.8M | -104.7M | -112.5M | -135.8M | -149.8M | -174.6M |
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 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|
| Net income | -18.3M | -37.2M | -63.4M | -130.3M | -141.9M | -134.2M | -138.2M | -206.7M |
| Depreciation & amortization | 488K | 493K | 667K | 2.1M | 2.1M | 2.1M | 2.1M | 2.2M |
| Stock-based compensation | 408K | 2M | 4.9M | 16.3M | 18.5M | 18.2M | 19.4M | 16.4M |
| Change in working capital | -557K | 589K | 1.2M | 5.1M | -2M | -3.7M | -631K | -3.6M |
| Operating cash flow | -18.2M | -28.4M | -56.6M | -105.5M | -122.1M | -116.5M | -115.9M | -186.4M |
| Capital expenditure | -17K | -267K | -464K | -1.7M | -6.5M | -193K | -15K | — |
| Investing cash flow | -17K | -267K | -83.2M | -88.2M | 58.4M | 70.7M | -218.8M | 190.2M |
| Dividends paid | — | — | — | — | — | — | — | — |
| Share repurchases | — | 0 | -5.2M | 0 | — | — | — | — |
| Financing cash flow | 58.3M | 28.4M | 360.9M | 0 | 122.5M | 135M | 159.6M | 107.9M |
| Net change in cash | 40.1M | -269K | 221.1M | -193.8M | 58.8M | 89.2M | -175.1M | 111.8M |
| Free cash flow | -17.2M | -28.6M | -53.6M | -107.8M | -122.8M | -121.3M | -118M | -186.5M |
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 | -32.5M | -27.9M | -25.2M | -29.6M | -34.8M | -48.6M | -54.4M | -49.2M | -54.9M | -48.3M | -44.1M | -55.3M |
| Depreciation & amortization | 538K | 538K | 538K | 537K | 538K | 537K | 537K | 540K | 546K | 543K | 539K | 540K |
| Stock-based compensation | 4.5M | 4.4M | 4.7M | 4.9M | 4.6M | 5.2M | 5.1M | 4.2M | 3.8M | 3.3M | 4.2M | 4.8M |
| Change in working capital | -2.8M | 144K | -2.5M | -529K | -1.1M | 3.1M | -2.7M | 444K | 2.7M | -4M | 1.7M | -2.1M |
| Operating cash flow | -29.9M | -22.5M | -22.1M | -24.3M | -30.4M | -39.4M | -51.1M | -38.1M | -52.3M | -45.9M | -46.8M | -48M |
| Capital expenditure | -19K | -7K | 0 | 0 | -9K | -6K | -74K | — | — | — | — | — |
| Investing cash flow | 47.8M | -2.2M | -77.3M | -96.6M | -45.9M | 1M | 97.6M | 73.1M | 45.9M | -26.5M | 27.1M | 40.1M |
| Dividends paid | — | — | — | — | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — | — | — | — | — |
| Financing cash flow | 0 | 117.5M | 32.2M | 123.2M | -355K | 4.5M | -3K | -29K | 13.6M | 94.4M | 32.7M | 31.1M |
| Net change in cash | 17.9M | 92.8M | -67.2M | 2.3M | -76.7M | -33.9M | 46.5M | 35M | 7.2M | 22M | 12.9M | 23.1M |
| Free cash flow | -28.3M | -23.5M | -28.3M | -21.7M | -32M | -36M | -50.1M | -38.1M | -52.4M | -45.9M | -46.8M | -48.1M |