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 | -$0.37 | -$0.48 | -29.7% | — | $0 | — |
| Q1 26 | -$0.4 | -$0.5 | -25.0% | — | $0 | — |
| Q4 25 | -$0.43 | -$0.37 | +14.0% | — | $0 | — |
| Q3 25 | -$0.47 | -$0.4 | +14.9% | — | $0 | — |
| Q2 25 | -$0.47 | -$0.47 | 0.0% | — | $0 | — |
| Q1 25 | -$0.49 | -$0.55 | -12.2% | — | $0 | — |
| Q4 24 | -$0.44 | -$0.52 | -18.2% | — | $0 | — |
| Q3 24 | -$0.44 | -$0.42 | +4.5% | — | $0 | — |
| Q2 24 | -$0.45 | -$0.41 | +8.9% | — | $0 | — |
| Q1 24 | -$0.49 | -$0.4 | +18.4% | — | $0 | — |
| Q4 23 | -$0.41 | -$0.5 | -22.0% | — | $0 | — |
| Q3 23 | -$0.52 | -$0.48 | +7.7% | — | $0 | — |
| Q2 23 | -$0.49 | -$0.48 | +2.0% | — | $0 | — |
| Q1 23 | -$0.54 | -$0.46 | +14.8% | — | $0 | — |
| Q4 22 | -$0.52 | -$0.55 | -5.8% | — | $0 | — |
| Q3 22 | -$0.35 | -$0.54 | -54.3% | — | $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 | — | -$1.76 | — | — | $0 | — |
| FY24 | — | -$1.75 | — | — | $0 | — |
| FY23 | — | -$1.93 | — | — | $0 | — |
| FY22 | — | -$1.96 | — | — | $0 | — |
| FY21 | — | -$8.95 |
Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.
| Period | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| YoY change | — | 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 | Q4 23 | Q1 24 | Q2 24 |
|---|
Revenue, gross profit, operating income, and net income per period.
Click a row to chart it; unreported figures show a dash.
| Period | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cost of revenue | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — |
| Research & development | 19.6M | 18M | 25.2M | 42.2M | 65.2M | 73.3M | 90.3M |
| Selling, general & administrative | 4.5M | 4.2M | 10.1M | 18.1M | 19.8M | 22.8M | 22.5M |
| Operating expenses | 24.1M | 22.2M | 35.3M | 60.3M | 85M | 96.1M | 112.8M |
| Operating income | -24.1M | -22.2M | -35.3M | -60.3M | -85M | -96.1M | -112.8M |
| Operating margin | — | — | — | — | — | — | — |
| Non-operating income, net | -55K | 3K | -14K | -332K | 132K | -120K | 77K |
| Pretax income | -24.2M | -22.2M | -35.3M | -58.8M | -76.3M | -86.8M | -106.1M |
| Income tax | — | — | — | 0 | 137K | 112K | 108K |
| Net income | -24.2M | -22.2M | -35.3M | -58.8M | -76.4M | -86.9M | -106.2M |
| Net margin | — | — | — | — | — | — | — |
| EBITDA | -23.6M | -21.4M | -34.4M | -58.8M | -83.9M | -94.9M | -111.7M |
| EPS | -1.74 | -1.54 | -8.95 | -1.96 | -1.93 | -1.75 | -1.76 |
| Diluted EPS | -1.74 | -1.54 | -8.95 | -1.96 | -1.93 | -1.75 | -1.76 |
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 | 15.4M | 20.3M | 17.1M | 16.9M | 17M | 22.3M | 23.3M | 22.9M | 22.2M | 21.9M | 28M | 30.7M |
| Selling, general & administrative | 5.1M | 4.5M | 5.3M | 5.9M | 6.2M | 5.5M | 5.7M | 5.7M | 5.7M | 5.3M | 6.9M | 17.3M |
| Operating expenses | 20.5M | 24.8M | 22.3M | 22.8M | 23.2M | 27.8M | 29M | 28.6M | 27.9M | 27.2M | 34.9M | 48.1M |
| Operating income | -20.5M | -24.8M | -22.3M | -22.8M | -23.2M | -27.8M | -29M | -28.6M | -27.9M | -27.2M | -34.9M | -48.1M |
| Operating margin | — | — | — | — | — | — | — | — | — | — | — | — |
| Non-operating income, net | -5K | 182K | -32K | -26K | -25K | -37K | -24K | -36K | -13K | 149K | 2K | 154K |
| Pretax income | -18.5M | -22M | -19.7M | -20.3M | -21M | -25.8M | -27.5M | -27M | -26.1M | -25.5M | -33.7M | -45.6M |
| Income tax | 0 | — | 46K | 0 | 43K | 24K | 18K | 48K | 26K | 15K | 11K | 29K |
| Net income | -18.5M | -22.1M | -19.7M | -20.3M | -21M | -25.8M | -27.5M | -27M | -26.1M | -25.6M | -33.7M | -45.6M |
| Net margin | — | — | — | — | — | — | — | — | — | — | — | — |
| EBITDA | -20.1M | -24.5M | -22M | -22.4M | -22.9M | -27.5M | -28.7M | -28.3M | -27.6M | -27M | -34.6M | -47.8M |
| EPS | -0.48 | — | -0.4 | -0.41 | -0.42 | — | -0.55 | -0.47 | -0.4 | — | -0.5 | -0.48 |
| Diluted EPS | -0.48 | — | -0.4 | -0.41 | -0.42 | — | -0.55 | -0.47 | -0.4 | — | -0.5 | -0.48 |
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 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| Market cap | — | — | — | — | — | — | — | 637.8M |
| Enterprise value | — | — | — | — | — | — | — | 330.5M |
| Shares outstanding | 13.9M | 19.6M | 5.2M | 29.9M | 39.6M | 49.7M | 60.3M | 60.3M |
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| P/E | — | — | — | — | — | — | — | -3.5 |
| P/B | — | — | — | — | — | — | — | 2.02 |
| EV/EBITDA | — | — | — | — | — | — | — | -2.41 |
| Earnings yield | — | — | — | — | — | — | — | -28.6% |
| FCF yield | — | — | — | — | — | — | — | -8.83% |
| PEG | — | — | — | — | — | — | — | -1.64 |
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| Operating margin | — | — | — | — | — | — | — | 0% |
| Net margin | — | — | — | — | — | — | — | 0% |
| ROE | 27.7% | -114.7% | -23.1% | -30% | -33.8% | -57.2% | -77.6% | -53.5% |
| ROA | -65.3% | -100.5% | -22% | -26.2% | -30% | -47.6% | -62.7% | -31.2% |
| ROIC | — | — | — | -218.2% | -441.4% | -489.3% | -1.1K% | -1.7K% |
| Return on tangible assets | -65.3% | -100.5% | -22% | -26.2% | -30% | -47.6% | -62.7% | -37.6% |
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| Current ratio | 5.42 | 6.94 | 20.9 | 18.8 | 18.8 | 10.8 | 8.15 | 16.8 |
| Quick ratio | 5.42 | 6.94 | 20.9 | 18.8 | 18.8 | 10.8 | 8.15 | 16.8 |
| Debt / equity | -0 | 0 | 0.01 | 0.11 | 0.09 | 0.12 | 0.13 | 0.05 |
| Debt / assets | 0 | 0 | 0.01 | 0.09 | 0.08 | 0.1 | 0.1 | 0.05 |
| Net debt / EBITDA | 1.37 | 0.81 | 4.3 | 2.86 | 2.46 | 1.39 | 1.14 | 2.24 |
| Interest coverage | -4.8K | -7.4K | — | — | — | — | — | — |
| Effective tax rate | — | — | — | 0% | 0% | 0% | 0% | 0% |
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| Revenue per share | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (basic) | -1.74 | -1.54 | -8.95 | -1.96 | -1.93 | -1.75 | -1.76 | -1.76 |
| EPS (diluted) | -1.74 | -1.54 | -8.95 | -1.96 | -1.93 | -1.75 | -1.76 | -1.78 |
| Book value per share | -6.29 | 0.99 | 29.5 | 6.53 | 5.7 | 3.06 | 2.27 | 3.05 |
| FCF per share | -1.65 | -1.28 | -6.69 | -1.86 | -1.63 | -1.63 | -1.41 | -1.09 |
| Cash per share | 2.34 | 0.89 | 28.9 | 6.31 | 5.71 | 3.04 | 2.39 | 3.12 |
| Capex per share | 0.16 | 0.04 | 0.41 | 0.04 | 0.02 | 0.03 | — | — |
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| Capex / operating cash flow | -10.1% | -3.45% | -6.85% | -2.14% | -1.06% | -1.72% | — | — |
| Payout ratio | — | — | — | — | — | — | — | 0% |
| — |
| — |
| $0 |
| — |
| FY20 | — | -$1.54 | — | — | $0 | — |
| FY19 | — | -$1.74 | — | — | $0 | — |
| 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 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|
| Cash & short-term investments | 32.4M | 17.4M | 149.1M | 188.8M | 226.2M | 151.1M | 144.2M |
| Receivables | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — |
| Total current assets | 33.3M | 18.5M | 153.7M | 196.7M | 231.8M | 160.6M | 149.7M |
| Property, plant & equipment | 3.6M | 3.6M | 6.2M | 26.2M | 22.3M | 20.6M | 18.5M |
| Goodwill & intangibles | — | — | — | — | — | — | — |
| Total assets | 37.1M | 22.1M | 160M | 223.9M | 255.1M | 182.5M | 169.4M |
| Accounts payable | 2.3M | 611K | 2.4M | 2.9M | 1.8M | 2.3M | 1.5M |
| Short-term debt | — | 15K | 615K | 3M | 2.7M | 3.1M | 3.2M |
| Total current liabilities | 6.1M | 2.7M | 7.4M | 10.5M | 12.4M | 14.9M | 18.4M |
| Long-term debt | 49K | 0 | 360K | 17.9M | 16.9M | 15.6M | 14.1M |
| Total liabilities | 124.5M | 2.7M | 7.7M | 28.4M | 29.2M | 30.5M | 32.5M |
| Shareholders' equity | -87.4M | 19.4M | 152.3M | 195.6M | 225.8M | 152M | 136.9M |
| Total debt | 49K | 15K | 975K | 20.9M | 19.6M | 18.8M | 17.4M |
| Net debt | -32.4M | -17.4M | -148.1M | -100.7M | -21.5M | -12.9M | -42.1M |
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 | 149.1M | 226.2M | 202.9M | 187.4M | 174.4M | 151.1M | 128M | 177.3M | 161.9M | 144.2M | 114.7M | 323.8M |
| Receivables | — | — | — | — | — | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current assets | 153.9M | 231.8M | 212.2M | 195.6M | 183.5M | 160.6M | 134.5M | 184M | 170.1M | 149.7M | 118.5M | 329M |
| Property, plant & equipment | 24.6M | 22.3M | 21.6M | 21.5M | 21.1M | 20.6M | 20.1M | 19.5M | 18.9M | 18.5M | 17.9M | 17.2M |
| Goodwill & intangibles | — | — | — | — | — | — | — | — | — | — | — | — |
| Total assets | 179.8M | 255.1M | 235M | 218.3M | 205.3M | 182.5M | 155.4M | 204.4M | 190M | 169.4M | 137.7M | 348.1M |
| Accounts payable | 1.5M | 1.8M | 1.9M | 1.5M | 2M | 2.3M | 2M | 1.3M | 1.9M | 1.5M | 2.6M | 2.3M |
| Short-term debt | 3M | 2.7M | 2.7M | 2.8M | 3.1M | 3.1M | 3.2M | 3.2M | 3.2M | 3.2M | 3.3M | 3.3M |
| Total current liabilities | 10.9M | 12.4M | 9.7M | 10.5M | 14.7M | 14.9M | 12.2M | 14.9M | 18.8M | 18.4M | 16.7M | 19.6M |
| Long-term debt | 17.2M | 16.9M | 16.6M | 16.3M | 16M | 15.6M | 15.3M | 14.9M | 14.5M | 14.1M | 13.7M | 13.3M |
| Total liabilities | 28M | 29.2M | 26.2M | 26.8M | 30.7M | 30.5M | 27.4M | 29.8M | 33.4M | 32.5M | 30.4M | 32.9M |
| Shareholders' equity | 151.7M | 225.8M | 208.8M | 191.5M | 174.7M | 152M | 128M | 174.6M | 156.7M | 136.9M | 107.2M | 315.3M |
| Total debt | 20.2M | 19.6M | 19.3M | 19M | 19.1M | 18.8M | 18.4M | 18.1M | 17.8M | 17.4M | 17M | 16.6M |
| Net debt | -35.4M | -21.5M | -7M | -11M | -6.3M | -12.9M | -19.8M | -89.3M | -29.8M | -42.1M | -67.8M | -51.2M |
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 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|
| Net income | -24.2M | -22.2M | -35.3M | -58.8M | -76.4M | -86.9M | -106.2M |
| Depreciation & amortization | 509K | 831K | 831K | 1.2M | 1.3M | 1.2M | 1.1M |
| Stock-based compensation | 507K | 736K | 2.3M | 6.4M | 8.8M | 11.7M | 14.3M |
| Change in working capital | 1M | -1.7M | 1.1M | -827K | -2.4M | -315K | -2.2M |
| Operating cash flow | -22.1M | -22.4M | -31M | -51M | -67M | -72.8M | -84.7M |
| Capital expenditure | -2.2M | -771K | -2.1M | -1.1M | -709K | -1.3M | — |
| Investing cash flow | -2.2M | -771K | -2.1M | -67.9M | -114M | 68.8M | 36M |
| Dividends paid | — | — | — | — | — | — | — |
| Share repurchases | -13K | 0 | — | — | — | — | — |
| Financing cash flow | 39.7M | 9.8M | 165.9M | 95.2M | 95.8M | 0 | 52.6M |
| Net change in cash | 15.3M | -13.3M | 132.7M | -23.7M | -85.1M | -4M | 3.9M |
| Free cash flow | -22.9M | -25.1M | -34.5M | -55.7M | -64.6M | -81.1M | -85.2M |
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 | -18.5M | -22.1M | -19.7M | -20.3M | -21M | -25.8M | -27.5M | -27M | -26.1M | -25.6M | -33.7M | -45.6M |
| Depreciation & amortization | 343K | 324K | 306K | 313K | 313K | 291K | 291K | 286K | 280K | 272K | 274K | 260K |
| Stock-based compensation | 2.3M | 2.6M | 2.9M | 3.1M | 2.8M | 2.9M | 3.5M | 3.8M | 3.7M | 3.3M | 3.8M | 12.4M |
| Change in working capital | 654K | 0 | -158K | -817K | 1.2M | -500K | -105K | -1.2M | 152K | -1M | 592K | -1.3M |
| Operating cash flow | -14.7M | -18.5M | -16.3M | -17.4M | -16.4M | -22.7M | -23.4M | -20.8M | -20.1M | -20.5M | -29.9M | -32.5M |
| Capital expenditure | -90K | -317K | -88K | -525K | -341K | -299K | -187K | — | — | — | — | — |
| Investing cash flow | 21.6M | -90.1M | 9.4M | 19.8M | 9.9M | 29.7M | 29.8M | 20M | -44M | 30M | 55M | 30M |
| Dividends paid | — | — | — | — | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — | — | — | — | — |
| Financing cash flow | 1.4M | 92.6M | — | — | 0 | 0 | — | — | 3.3M | 2.8M | — | — |
| Net change in cash | 8.2M | -16M | -6.9M | 2.5M | -6.5M | 7M | 6.4M | -758K | -60.8M | 12.3M | 25.1M | -2.5M |
| Free cash flow | -15.5M | -17.7M | -24.5M | -16.7M | -15.6M | -24.3M | -23.5M | -20.8M | -20.2M | -20.6M | -30M | -32.5M |