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 | -$0.33 | -$0.77 | -133.3% | — | $31.5M | — |
| Q1 26 | -$0.2 | -$0.66 | -230.0% | — | $14.7M | — |
| Q4 25 | -$0.2 | -$0.26 | -30.0% | — | $54.3M | — |
| Q3 25 | -$0.26 | -$0.45 | -73.1% | — | $14.7M | — |
| Q2 25 | -$0.22 | -$0.41 | -86.4% | — | $1.2M | — |
| Q1 25 | -$0.22 | -$0.2 | +9.1% | — | $718K | — |
| Q4 24 | -$0.18 | -$0.12 | +33.3% | — | $1.9M | — |
| Q3 24 | -$0.2 | -$1.1 | -450.0% | — | $1.1M | — |
| Q2 24 | -$0.22 | -$0.51 | -131.8% | — | $900K | — |
| Q1 24 | -$0.21 | -$0.16 | +23.8% | — | $500K | — |
| Q4 23 | -$0.21 | -$0.23 | -9.5% | — | — | — |
| Q3 23 | -$0.16 | -$0.24 | -50.0% | — | — | — |
| Q2 23 | -$0.49 | -$0.23 | +53.1% | — | — | — |
| Q1 23 | -$0.19 | -$0.14 | +26.3% | — | $0 | — |
| Q3 22 | — | -$0.18 | — | — | $4.2M | — |
| Q2 22 | — | -$0.06 | — | — | $7.3M | — |
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 | — | — | $70.9M | — |
| FY24 | — | -$1.94 | — | — | $4.4M | — |
| FY23 | — | -$1.07 | — | — | $0 | — |
| FY22 | — | -$0.58 | — | — | $13.8M | — |
| FY21 | — | -$0.59 | — |
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 | $6M | $12.4M | $13.8M | $0 | $4.4M | $70.9M |
| YoY change | — | +107.9% | +11.4% | -100% | +InfinityT% | +1.5K% |
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 |
|---|
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 | 6M | 12.4M | 13.8M | 0 | 4.4M | 70.9M |
| Cost of revenue | 3M | 7.6M | 6.7M | 0 | 0 | 35.2M |
| Gross profit | 2.9M | 4.8M | 7.1M | 0 | 4.4M | 35.7M |
| Gross margin | 49.3% | 39% | 51.4% | — | 100% | 50.3% |
| Research & development | 14.1M | 53M | 99.8M | 126.3M | 122.3M | 170.6M |
| Selling, general & administrative | 12.3M | 35.6M | 48.3M | 41.6M | 61.6M | 101.7M |
| Operating expenses | 39.5M | 118.3M | 148.2M | 167.9M | 183.8M | 272.3M |
| Operating income | -24.4M | -86.7M | -145.8M | -222.4M | -242.8M | -287.7M |
| Operating margin | -408.2% | -699.3% | -1.1K% | — | -5.5K% | -405.7% |
| Non-operating income, net | 83K | 13.8M | 40.6M | -1.3M | -277.7M | -182.6M |
| Pretax income | -24.3M | -72.9M | -102.5M | -221M | -525M | -457.1M |
| Income tax | 131K | 331K | 617K | 1.7M | 1.3M | 3.9M |
| Net income | -24.4M | -73.3M | -103.1M | -222.7M | -526.3M | -461M |
| Net margin | -409% | -590.6% | -745.8% | — | -11.9K% | -650.1% |
| EBITDA | -23.5M | -99.6M | -160.2M | -176.9M | -163.4M | -301.8M |
| EPS | -0.63 | -0.59 | -0.58 | -1.07 | -1.94 | -1.34 |
| Diluted EPS | -0.63 | -0.59 | -0.58 | -1.07 | -1.94 | -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 | 500K | 900K | 1.1M | 1.9M | 718K | 1.2M | 14.7M | 54.3M | 14.7M | 31.5M |
| Cost of revenue | 0 | 0 | — | — | — | — | — | — | 5.5M | 29.4M | 11.6M | 23.6M |
| Gross profit | 0 | 0 | — | — | — | — | — | — | 9.2M | 24.9M | 3.1M | 8M |
| Gross margin | — | — | — | — | — | — | — | — | 62.6% | 45.8% | 20.9% | 25.2% |
| Research & development | 28.9M | 30.8M | 23.8M | 25.7M | 36.6M | 36.3M | 34.3M | 35M | 46.4M | 55.2M | 91.2M | 95.1M |
| Selling, general & administrative | 11M | 10.5M | 12.3M | 17.8M | 15.6M | 15.9M | 18.4M | 27.2M | 29.8M | 26.2M | 43.7M | 63.9M |
| Operating expenses | 39.9M | 41.3M | 36.1M | 43.5M | 52.1M | 52.2M | 52.7M | 62.2M | 76.2M | 81.5M | 134.9M | 159M |
| Operating income | -59M | -60.9M | -55.5M | -63M | -65.5M | -58.7M | -63M | -72.8M | -79.7M | -72.3M | -149.4M | -171.7M |
| Operating margin | — | — | -11.1K% | -7K% | -6K% | -3.1K% | -8.8K% | -6.3K% | -540.6% | -133.1% | -1K% | -544.6% |
| Non-operating income, net | 8M | -16.8M | 18.2M | -65.9M | -235.5M | 5.5M | -4M | -64.7M | -88.5M | -25.4M | -101.7M | -128.8M |
| Pretax income | -50.5M | -75M | -39.5M | -131.1M | -302.4M | -51.9M | -63.5M | -135.2M | -163.5M | -95M | -248.4M | -298.8M |
| Income tax | 266K | 2.1M | 294K | 231K | 646K | 156K | 168K | 742K | 374K | 2.6M | 1.2M | 1.1M |
| Net income | -50.7M | -77.1M | -39.8M | -131.3M | -303.1M | -52.1M | -63.6M | -135.9M | -163.8M | -97.7M | -249.6M | -299.9M |
| Net margin | — | — | -8K% | -14.6K% | -27.6K% | -2.7K% | -8.9K% | -11.8K% | -1.1K% | -179.8% | -1.7K% | -951.5% |
| EBITDA | -47.4M | -28.8M | -53.8M | 23.5M | 185.9M | -319.1M | -44.6M | -52.8M | -146.1M | -58.3M | -205.3M | -252.1M |
| EPS | -0.23 | — | -0.16 | -0.51 | -1.1 | — | -0.2 | -0.41 | -0.45 | -0.26 | -0.66 | -0.77 |
| Diluted EPS | -0.23 | — | -0.16 | -0.51 | -1.1 | — | -0.2 | -0.41 | -0.45 | -0.26 | -0.66 | -0.77 |
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 | 702.5M | 410.7M | 262.4M | — | — | — | 23.7B |
| Enterprise value | 666.8M | 102.1M | 36.6M | — | — | — | 19.5B |
| Shares outstanding | 51.7M | 51.7M | 54.4M | 81.8M | 154.5M | 256M | 256M |
| Metric | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| P/E | — | — | — | — | — | — | -45.5 |
| P/S | 117.7 | 33.1 | 19 | — | — | — | 205.9 |
| P/B | 8.78 | 1.17 | 0.73 | — | — | — | 9.65 |
| EV/EBITDA | -28.4 | -1.03 | -0.23 | — | — | — | -48 |
| EV/Sales | 111.7 | 8.23 | 2.64 | — | — | — | 169.1 |
| Earnings yield | — | — | — | — | — | — | -2.2% |
| FCF yield | -7.57% | -32.8% | -81.5% | — | — | — | -7.58% |
| PEG | — | — | — | — | — | — | -0.52 |
| Metric | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| Gross margin | 49.3% | 39% | 51.4% | — | 100% | 50.3% | 25.2% |
| Operating margin | -408.2% | -699.3% | -1.1K% | — | -5.5K% | -405.7% | -544.6% |
| Net margin | -409% | -590.6% | -745.8% | — | -11.9K% | -650.1% | 50.3% |
| ROE | -30.5% | -20.8% | -28.7% | -104.3% | -78.7% | -19.3% | -45.6% |
| ROA | -24.5% | -16.5% | -23.5% | -61.7% | -55.1% | -9.19% | -7.64% |
| ROIC | -55% | -200.1% | -108.8% | -110.7% | -87.6% | -12.5% | -15.2% |
| Return on tangible assets | -26.9% | -16.8% | -23.5% | -61.7% | -55.1% | -9.67% | -15.4% |
| Metric | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| Current ratio | 3.88 | 15.7 | 9.65 | 2.31 | 7.9 | 16.4 | 13.1 |
| Quick ratio | 3.69 | 15.6 | 9.65 | 2.31 | 7.9 | 16.3 | 12.9 |
| Debt / equity | 0.09 | 0.04 | 0.04 | 0.34 | 0.26 | 0.94 | 1.25 |
| Debt / assets | 0.07 | 0.03 | 0.03 | 0.2 | 0.18 | 0.45 | 0.51 |
| Net debt / EBITDA | 1.52 | 3.1 | 1.41 | 0.07 | 2.4 | 0.32 | -1.07 |
| Interest coverage | — | — | — | — | -27.1 | -11.7 | -9.6 |
| Effective tax rate | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Metric | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| Revenue per share | 0.12 | 0.24 | 0.25 | 0 | 0.03 | 0.28 | 0.4 |
| EPS (basic) | -0.63 | -0.59 | -0.58 | -1.07 | -1.94 | -1.34 | -1.34 |
| EPS (diluted) | -0.63 | -0.59 | -0.58 | -1.07 | -1.94 | -1.34 | -2.12 |
| Book value per share | 1.55 | 6.8 | 6.61 | 2.61 | 4.33 | 9.35 | 6.32 |
| FCF per share | -1.03 | -2.61 | -3.93 | -3.27 | -1.94 | -4.66 | -5.81 |
| Cash per share | 0.83 | 6.22 | 4.38 | 1.05 | 3.66 | 9.12 | 7.63 |
| Capex per share | 0.59 | 1.06 | 1.05 | 1.45 | 1.13 | — | — |
| Metric | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| Capex / revenue | 509.2% | 441.7% | 414.4% | — | 3.9K% | — | — |
| Capex / operating cash flow | -122.5% | -88.1% | -64.2% | -78.1% | -45.5% | — | — |
| Payout ratio | — | — | — | — | — | — | 0% |
| — |
| $12.4M |
| — |
| FY20 | — | -$0.63 | — | — | $6M | — |
| Q4 24 |
|---|
| Q1 25 |
|---|
| Q2 25 |
|---|
| Q3 25 |
|---|
| Q4 25 |
|---|
| Q1 26 |
|---|
| Q2 26 |
|---|
| Revenue | $0 | $0 | $500K | $900K | $1.1M | $1.9M | $718K | $1.2M | $14.7M | $54.3M | $14.7M | $31.5M |
| YoY change | -100% | 0% | +InfinityT% | +InfinityT% | +InfinityT% | +InfinityT% | +43.6% | +28.4% | +1.2K% | +2.7K% | +2K% | +2.6K% |
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 | 42.8M | 321.8M | 238.6M | 85.6M | 565M | 2.3B |
| Receivables | 2.1M | 2.2M | 0 | — | — | 37.7M |
| Inventory | 2.6M | 1.4M | 0 | — | — | 12M |
| Total current assets | 50.9M | 335.8M | 268.3M | 106.9M | 600.2M | 2.5B |
| Property, plant & equipment | 44.1M | 103.9M | 143.4M | 237.1M | 335.7M | 1.4B |
| Goodwill & intangibles | 8.9M | 7.5M | 0 | — | — | 245.1M |
| Total assets | 99.6M | 443.9M | 438.4M | 360.9M | 954.6M | 5B |
| Accounts payable | 5M | 6.6M | 13.9M | 20.6M | 17M | 46.8M |
| Short-term debt | 504K | 634K | 964K | 1.7M | 4.8M | 14.4M |
| Total current liabilities | 13.1M | 21.4M | 27.8M | 46.2M | 75.9M | 150.3M |
| Long-term debt | 6.5M | 12.5M | 11.8M | 71.2M | 168.2M | 2.2B |
| Total liabilities | 19.7M | 92M | 78.5M | 147.3M | 285.4M | 2.6B |
| Shareholders' equity | 80M | 352M | 359.8M | 213.6M | 669.1M | 2.4B |
| Total debt | 7M | 13.2M | 12.8M | 72.9M | 173M | 2.2B |
| Net debt | -35.7M | -308.6M | -225.8M | -12.8M | -392M | -96.2M |
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 | 133.3M | 85.6M | 210M | 285.1M | 516.4M | 565M | 873.8M | 923.6M | 1.2B | 2.3B | 3B | 2.3B |
| Receivables | — | — | — | — | — | — | — | — | 11.5M | 37.7M | 27.5M | 79.3M |
| Inventory | — | — | — | — | — | — | — | — | 10.9M | 12M | 16.8M | 28.4M |
| Total current assets | 163.1M | 106.9M | 239.5M | 315.2M | 545.6M | 600.2M | 894.6M | 973.2M | 1.3B | 2.5B | 3.2B | 2.5B |
| Property, plant & equipment | 224.1M | 237.1M | 243.4M | 245.3M | 256.7M | 335.7M | 447.8M | 759.7M | 1B | 1.4B | 1.6B | 2.1B |
| Goodwill & intangibles | — | — | — | — | — | — | — | — | 427.5M | 245.1M | 535.4M | 597.4M |
| Total assets | 402.1M | 360.9M | 501.7M | 579.6M | 821.6M | 954.6M | 1.4B | 1.9B | 2.6B | 5B | 6.1B | 5.9B |
| Accounts payable | 7.8M | 20.6M | 14.5M | 12.2M | 9M | 17M | 10.8M | 22.7M | 50.7M | 46.8M | 60.9M | 60.6M |
| Short-term debt | 1.4M | 1.7M | 1.8M | 1.8M | 46.2M | 4.8M | 5.5M | 9.8M | 11.1M | 14.4M | 11.3M | 12.2M |
| Total current liabilities | 26.9M | 46.2M | 31.9M | 49.4M | 94.1M | 75.9M | 84.2M | 118.3M | 133.6M | 150.3M | 170.7M | 191M |
| Long-term debt | 70.5M | 71.2M | 172.3M | 210.5M | 167.3M | 168.2M | 474.3M | 495.8M | 711.4M | 2.2B | 3B | 3B |
| Total liabilities | 114.9M | 147.3M | 215.9M | 337.8M | 318.8M | 285.4M | 603M | 723.6M | 924.9M | 2.6B | 3.4B | 3.5B |
| Shareholders' equity | 287.2M | 213.6M | 285.8M | 241.9M | 502.8M | 669.1M | 766.7M | 1.2B | 1.6B | 2.4B | 2.7B | 2.4B |
| Total debt | 71.9M | 72.9M | 174M | 212.3M | 213.5M | 173M | 479.8M | 505.6M | 722.5M | 2.2B | 3B | 3B |
| Net debt | -61.4M | -12.8M | -36M | -72.8M | -302.9M | -392M | -394M | -418M | -481.8M | -96.2M | -38.2M | 705.5M |
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 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|
| Net income | -24.4M | -73.3M | -103.1M | -222.7M | -526.3M | -461M |
| Depreciation & amortization | 887K | 2.9M | 4.7M | 54.5M | 63.3M | 51.1M |
| Stock-based compensation | 283K | 3.7M | 9.4M | 13.3M | 32M | 47.5M |
| Change in working capital | -1.8M | 3.8M | -526K | 1.6M | 35.8M | 137.3M |
| Operating cash flow | -24.8M | -62.2M | -89.2M | -152.1M | -383M | -71.5M |
| Capital expenditure | -30.4M | -54.8M | -57.3M | -118.8M | -174.1M | — |
| Investing cash flow | -30.4M | -54.8M | -31.4M | -118.8M | -174.1M | -420M |
| Dividends paid | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — |
| Financing cash flow | 69.7M | 416.9M | 102.3M | 116.5M | 621.4M | 3.8B |
| Net change in cash | 14.5M | 299.9M | -18.3M | -154.4M | 64.3M | 3.3B |
| Free cash flow | -53.2M | -134.9M | -213.7M | -267.7M | -300.3M | -1.2B |
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 | -50.7M | -77.1M | -39.8M | -131.3M | -303.1M | -52.1M | -63.6M | -135.9M | -163.8M | -97.7M | -249.6M | -299.9M |
| Depreciation & amortization | 19M | 19.6M | 19.9M | 20.4M | 14.5M | 8.5M | 11M | 11.7M | 12.7M | 15.7M | 17.6M | 20.7M |
| Stock-based compensation | 2.6M | 2.7M | 4.9M | 8.9M | 6.8M | 11.4M | 7.8M | 10.5M | 14M | 15.2M | 55.4M | 63.5M |
| Change in working capital | -15.1M | -64K | 820K | 21.9M | 1.2M | 18.2M | 960K | -2.6M | -7.3M | 145.3M | 9M | -32.7M |
| Operating cash flow | -43.6M | -54.8M | -13.2M | -76.2M | -279.4M | -7.9M | -43.1M | -43.5M | -64.5M | 65M | -48.1M | -97.2M |
| Capital expenditure | -73.5M | -22.3M | -39.6M | -22.2M | -30.3M | -82M | -120.5M | — | — | — | — | — |
| Investing cash flow | -73.5M | -22.3M | -39.6M | -22.2M | -30.3M | -82M | -120.5M | — | — | — | -100M | 21.6M |
| Dividends paid | — | — | — | — | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — | — | — | -430.4M | 0 |
| Financing cash flow | 53.7M | -636K | 212.2M | 113.5M | 138.4M | 157.3M | 451.7M | 416.8M | -239.3M | 3.2B | 1.1B | -38.9M |
| Net change in cash | -63.4M | -77.8M | 159.4M | 15M | -171.3M | 67.4M | 288.1M | 373.3M | -303.7M | 3.3B | 954.8M | -114.5M |
| Free cash flow | -109.5M | -47.2M | -87.7M | -38.4M | -63.8M | -110.5M | -149M | -353.6M | -330.8M | -359.2M | -327.3M | -719.2M |