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 | -$0.18 | +25.0% | — | $0 | — |
| Q1 26 | -$0.23 | -$0.29 | -26.1% | — | $0 | — |
| Q4 25 | -$0.24 | -$0.29 | -20.8% | — | $0 | — |
| Q3 25 | -$0.22 | -$0.31 | -40.9% | — | $0 | — |
| Q2 25 | -$0.31 | -$0.21 | +32.3% | — | $0 | — |
| Q1 25 | -$0.27 | -$0.35 | -29.6% | — | $0 | — |
| Q4 24 | -$0.34 | -$0.25 | +26.5% | — | $0 | — |
| Q3 24 | -$0.39 | -$0.35 | +10.3% | — | $0 | — |
| Q2 24 | -$0.59 | -$0.48 | +18.6% | — | $0 | — |
| Q1 24 | -$0.62 | -$0.56 | +9.7% | — | $0 | — |
| Q4 23 | -$0.74 | -$0.57 | +23.0% | — | $0 | — |
| Q3 23 | -$0.63 | -$0.65 | -3.2% | — | $0 | — |
| Q2 23 | -$0.85 | -$0.81 | +4.7% | — | $0 | — |
| Q1 23 | -$0.68 | -$0.79 | -16.2% | — | $0 | — |
| Q4 22 | -$0.65 | -$0.61 | +6.2% | — | $0 | — |
| Q3 22 | -$0.59 | -$0.59 | 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 | — | -$1.16 | — | — | $0 | — |
| FY24 | — | -$1.72 | — | — | $0 | — |
| FY23 | — | -$2.74 | — | — | $0 | — |
| FY22 | — | -$2.79 | — | — | $0 | — |
| FY21 | — | -$1.55 | — |
Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.
| Period | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 | $0 | $0 |
| YoY change | — | 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 | Q2 24 | Q3 24 | Q4 24 | Q1 25 |
|---|
Revenue, gross profit, operating income, and net income per period.
Click a row to chart it; unreported figures show a dash.
| Period | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | 0 | 0 | 0 |
| Cost of revenue | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — |
| Research & development | 6M | 16.9M | 29.5M | 54.9M | 40.5M | 24.8M |
| Selling, general & administrative | 1.3M | 4.7M | 12.8M | 14.8M | 14.1M | 13.3M |
| Operating expenses | 7.3M | 21.6M | 42.3M | 69.6M | 54.6M | 38.1M |
| Operating income | -7.3M | -21.6M | -42.3M | -69.6M | -54.6M | -38.1M |
| Operating margin | — | — | — | — | — | — |
| Non-operating income, net | -6.3M | -38K | 1.3M | 4.9M | -2.2M | 1K |
| Pretax income | -13.6M | -21.5M | -41M | -64.7M | -51.3M | -35.2M |
| Income tax | — | — | — | — | — | — |
| Net income | -13.6M | -21.5M | -41M | -64.7M | -51.3M | -35.2M |
| Net margin | — | — | — | — | — | — |
| EBITDA | -7.3M | -21.6M | -42.3M | -69.6M | -52.3M | -38.1M |
| EPS | -0.97 | -1.55 | -2.79 | -2.74 | -1.72 | -1.16 |
| Diluted EPS | -0.97 | -1.55 | -2.79 | -2.74 | -1.72 | -1.16 |
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 | 14.4M | 14.9M | 14.7M | 12.1M | 8.3M | 5.4M | 7.7M | 3.2M | 7M | 6.9M | 6.7M | 6M |
| Selling, general & administrative | 3.8M | 3.9M | 3.6M | 3.7M | 3.5M | 3.2M | 3.8M | 4M | 3M | 2.4M | 3.8M | 2.9M |
| Operating expenses | 18.2M | 18.8M | 18.3M | 15.9M | 11.8M | 8.6M | 11.5M | 7.2M | 10M | 9.3M | 10.6M | 8.9M |
| Operating income | -18.2M | -18.8M | -18.3M | -15.9M | -11.8M | -8.6M | -11.5M | -7.2M | -10M | -9.3M | -10.6M | -8.9M |
| Operating margin | — | — | — | — | — | — | — | — | — | — | — | — |
| Non-operating income, net | 1.5M | 1.9M | 1.7M | 1.4M | -976K | -4.4M | — | — | — | — | — | -1K |
| Pretax income | -16.7M | -16.9M | -16.6M | -14.4M | -12.7M | -7.5M | -10.6M | -6.5M | -9.4M | -8.7M | -10M | -8.2M |
| Income tax | — | — | — | — | — | — | — | — | — | — | — | — |
| Net income | -16.7M | -16.9M | -16.6M | -14.4M | -12.7M | -7.5M | -10.6M | -6.5M | -9.4M | -8.7M | -10M | -8.2M |
| Net margin | — | — | — | — | — | — | — | — | — | — | — | — |
| EBITDA | -18.2M | -18.8M | -18.3M | -15.9M | -9.5M | -8.6M | -11.5M | -7.2M | -10M | -9.3M | -10.6M | -8.9M |
| EPS | -0.65 | -0.57 | -0.56 | -0.48 | -0.43 | -0.25 | -0.35 | -0.21 | -0.31 | -0.29 | -0.29 | -0.18 |
| Diluted EPS | -0.65 | -0.57 | -0.56 | -0.48 | -0.43 | -0.25 | -0.35 | -0.21 | -0.31 | -0.29 | -0.29 | -0.18 |
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 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| Market cap | — | — | — | — | — | 34.4M | 189.1M |
| Enterprise value | — | — | — | — | — | -23.6M | 105.8M |
| Shares outstanding | 14M | 18.1M | 15.3M | 23.6M | 29.8M | 30.2M | 30.2M |
| Metric | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| P/E | — | — | — | — | — | — | -4.32 |
| P/B | — | — | — | — | — | 0.65 | 2.33 |
| EV/EBITDA | — | — | — | — | — | 0.62 | -2.78 |
| Earnings yield | — | — | — | — | — | — | -23.2% |
| FCF yield | — | — | — | — | — | -86.6% | -9.53% |
| PEG | — | — | — | — | — | — | 0.3 |
| Metric | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| Operating margin | — | — | — | — | — | — | 0% |
| Net margin | — | — | — | — | — | — | 0% |
| ROE | 66.9% | -34.8% | -42.9% | -51.9% | -62.7% | -66.3% | -50.1% |
| ROA | -321.3% | -33% | -39.9% | -46.7% | -55.7% | -56.8% | -30.8% |
| Return on tangible assets | -321.3% | -33% | -39.9% | -46.7% | -55.7% | -56.8% | -44.4% |
| Metric | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| Current ratio | 2.9 | 17.7 | 13.7 | 7.87 | 8.43 | 6.87 | 14.3 |
| Quick ratio | 2.9 | 17.7 | 13.7 | 7.87 | 8.43 | 6.87 | 14.3 |
| Debt / equity | — | — | 0 | — | — | — | 0 |
| Debt / assets | — | — | 0 | — | — | — | — |
| Net debt / EBITDA | — | — | 2.27 | — | — | — | — |
| Metric | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| Revenue per share | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (basic) | -0.97 | -1.55 | -2.79 | -2.74 | -1.72 | -1.16 | -1.16 |
| EPS (diluted) | -0.97 | -1.55 | -2.79 | -2.74 | -1.72 | -1.16 | -1.05 |
| Book value per share | -1.45 | 3.41 | 6.22 | 5.28 | 2.74 | 1.76 | 2.09 |
| FCF per share | -0.38 | -1.13 | -2.18 | -2.26 | -1.65 | -0.99 | -0.69 |
| Cash per share | 0.29 | 3.23 | 6.26 | 4.55 | 2.8 | 1.92 | 2.08 |
| Metric | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| Payout ratio | — | — | — | — | — | — | 0% |
| — |
| $0 |
| — |
| FY20 | — | -$0.97 | — | — | $0 | — |
| 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 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|
| Cash & short-term investments | 4.1M | 58.6M | 96.1M | 107.3M | 83.6M | 58M |
| Receivables | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — |
| Total current assets | 4.2M | 60.1M | 98.6M | 110.5M | 86.3M | 59.9M |
| Property, plant & equipment | — | — | — | — | — | — |
| Goodwill & intangibles | — | — | — | — | — | — |
| Total assets | 4.2M | 65.3M | 102.6M | 138.7M | 92.1M | 62M |
| Accounts payable | 132K | 1.1M | 2.1M | 2.7M | 3.3M | 3M |
| Short-term debt | — | — | 53K | — | — | — |
| Total current liabilities | 1.5M | 3.4M | 7.2M | 14M | 10.2M | 8.7M |
| Long-term debt | — | — | — | — | — | — |
| Total liabilities | 24.6M | 3.4M | 7.2M | 14M | 10.2M | 8.9M |
| Shareholders' equity | -20.3M | 61.9M | 95.4M | 124.7M | 81.8M | 53.1M |
| Total debt | — | — | 53K | — | — | — |
| Net debt | — | — | -27.2M | — | — | — |
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 | 123.8M | 107.3M | 114.2M | 104.5M | 93.4M | 83.6M | 67.1M | 62.9M | 61.9M | 58M | 85.3M | 78.4M |
| Receivables | — | — | — | — | — | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current assets | 126.4M | 110.5M | 116.3M | 107.4M | 97.7M | 86.3M | 69.6M | 67.5M | 64M | 59.9M | 87.5M | 80M |
| Property, plant & equipment | — | — | — | — | — | — | — | — | — | — | — | — |
| Goodwill & intangibles | — | — | — | — | — | — | — | — | — | — | — | — |
| Total assets | 153.8M | 138.7M | 121.3M | 108.5M | 97.7M | 92.1M | 81.3M | 75.8M | 67.2M | 62M | 87.5M | 81.7M |
| Accounts payable | 4.9M | 2.7M | 2.4M | 1.9M | 1.7M | 3.3M | 3.1M | 2.1M | 2.2M | 3M | 2.6M | 2M |
| Short-term debt | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current liabilities | 14.8M | 14M | 10.7M | 10.1M | 10M | 10.2M | 8M | 7M | 6.9M | 8.7M | 5.6M | 5.6M |
| Long-term debt | — | — | — | — | — | — | — | — | — | — | — | — |
| Total liabilities | 14.8M | 14M | 10.7M | 10.1M | 10M | 10.2M | 8M | 7M | 6.9M | 8.9M | 5.7M | 5.8M |
| Shareholders' equity | 139M | 124.7M | 110.6M | 98.4M | 87.7M | 81.8M | 73.3M | 68.8M | 60.4M | 53.1M | 81.8M | 75.9M |
| Total debt | — | — | — | — | — | — | — | — | — | — | — | — |
| Net debt | — | — | — | — | — | — | — | — | — | — | — | — |
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 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|
| Net income | -13.6M | -21.5M | -41M | -64.7M | -51.3M | -35.2M |
| Depreciation & amortization | — | — | — | — | — | — |
| Stock-based compensation | 40K | 974K | 4.4M | 8.4M | 8.3M | 6.2M |
| Change in working capital | 507K | 907K | 3M | 1.2M | 767K | 312K |
| Operating cash flow | -6.1M | -19.7M | -33.5M | -55.1M | -42.2M | -29.8M |
| Capital expenditure | — | — | — | — | — | — |
| Investing cash flow | 0 | -50M | -21.8M | -43.3M | 54.6M | 28.3M |
| Dividends paid | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — |
| Financing cash flow | 3.8M | 78.5M | 70.4M | 84.5M | 0 | — |
| Net change in cash | -2.3M | 8.8M | 15M | -13.8M | 12.4M | -1.5M |
| Free cash flow | -5.4M | -20.5M | -33.5M | -53.3M | -49.3M | -29.8M |
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 | 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 | -16.7M | -16.9M | -16.6M | -14.4M | -12.7M | -7.5M | -10.6M | -6.5M | -9.4M | -8.7M | -10M | -8.2M |
| Depreciation & amortization | — | — | — | — | — | — | — | — | — | — | — | — |
| Stock-based compensation | 2.2M | 2.2M | 2.4M | 2.3M | 1.9M | 1.8M | 2M | 2M | 801K | 1.4M | 1.5M | 972K |
| Change in working capital | 3.2M | -2.4M | -589K | -309K | 543K | 1.1M | -666K | -612K | -421K | 2M | -1.1M | -789K |
| Operating cash flow | -11.3M | -17.1M | -14.8M | -12.5M | -10.3M | -4.6M | -9.3M | -7.6M | -6.4M | -5.2M | -12.1M | -7M |
| Capital expenditure | — | — | — | — | — | — | — | — | — | — | — | — |
| Investing cash flow | -62.5M | 420K | 26.3M | 16.5M | 18.7M | -6.9M | 9.2M | 5.8M | 6.1M | 7.2M | 8.3M | -3.7M |
| Dividends paid | — | — | — | — | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — | — | — | — | — |
| Financing cash flow | 65.8M | -321K | — | — | 0 | 0 | — | — | — | — | 37.3M | 1.7M |
| Net change in cash | -8M | -17M | 11.5M | 4M | 8.4M | -11.5M | -75K | -1.8M | -265K | 1.9M | 33.5M | -9M |
| Free cash flow | -11.8M | -17.1M | -17.6M | -14.4M | -12M | -5.3M | -10.6M | -7.6M | -6.4M | -5.2M | -12.1M | -7M |