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 | -$0.98 | -$1.05 | -7.1% | — | $0 | — |
| Q1 26 | -$0.89 | -$0.96 | -7.9% | — | $0 | — |
| Q4 25 | -$0.85 | -$0.78 | +8.2% | — | $0 | — |
| Q3 25 | -$0.78 | -$0.83 | -6.4% | — | $0 | — |
| Q2 25 | -$0.71 | -$0.9 | -26.8% | — | $0 | — |
| Q1 25 | -$0.69 | -$1.9 | -175.4% | — | $0 | — |
| Q4 24 | -$0.78 | -$0.61 | +21.8% | — | $0 | — |
| Q3 24 | -$1.07 | -$0.61 | +43.0% | — | $0 | — |
| Q2 24 | -$0.59 | -$0.65 | -10.2% | — | $0 | — |
| Q1 24 | -$1.3 | -$0.7 | +46.2% | — | $0 | — |
| Q4 23 | -$0.65 | -$30.8 | -4632.3% | — | $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 | — | -$4.32 | — | — | $0 | — |
| FY24 | — | -$2.56 | — | — | $0 | — |
| FY23 | — | -$2.17 | — | — | $0 | — |
| FY22 | — | -$1.15 | — | — | $0 | — |
Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.
| Period | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 |
| YoY change | — | 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 | Q2 25 | Q3 25 | Q4 25 | Q1 26 | Q2 26 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Revenue, gross profit, operating income, and net income per period.
Click a row to chart it; unreported figures show a dash.
| Period | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | 0 |
| Cost of revenue | — | — | — | — |
| Gross profit | — | — | — | — |
| Gross margin | — | — | — | — |
| Research & development | 30.4M | 64.9M | 79M | 153.4M |
| Selling, general & administrative | 6.5M | 9.7M | 15.3M | 24.2M |
| Operating expenses | 36.9M | 74.6M | 94.3M | 177.5M |
| Operating income | -36.9M | -74.6M | -94.3M | -177.5M |
| Operating margin | — | — | — | — |
| Non-operating income, net | — | — | — | — |
| Pretax income | -36.9M | -69.3M | -80.5M | -166.3M |
| Income tax | — | — | — | — |
| Net income | -36.9M | -69.3M | -80.5M | -166.3M |
| Net margin | — | — | — | — |
| EBITDA | -36.9M | -74.6M | -94.3M | -177.5M |
| EPS | -1.15 | -2.17 | -2.56 | -4.32 |
| Diluted EPS | -1.15 | -2.17 | -2.56 | -4.32 |
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 | 14.3M | 20M | 17M | 21.8M | 20.1M | 20.2M | 61.3M | 27.7M | 32.2M | 32.2M | 37.6M | 42.3M |
| Selling, general & administrative | 2.4M | 3.1M | 3.7M | 3.9M | 4.1M | 3.5M | 5.5M | 5.9M | 6.1M | 6.6M | 8.5M | 10.4M |
| Operating expenses | 16.7M | 23.1M | 20.7M | 25.7M | 24.2M | 23.7M | 66.8M | 33.6M | 38.3M | 38.8M | 46.1M | 52.7M |
| Operating income | -16.7M | -23.1M | -20.7M | -25.7M | -24.2M | -23.7M | -66.8M | -33.6M | -38.3M | -38.8M | -46.1M | -52.7M |
| Operating margin | — | — | — | — | — | — | — | — | — | — | — | — |
| Non-operating income, net | — | — | — | — | — | — | — | — | — | — | — | — |
| Pretax income | -14.4M | -21.2M | -17.4M | -21.9M | -20.6M | -20.6M | -64.4M | -31.4M | -35M | -35.5M | -43.3M | -49.9M |
| Income tax | — | — | — | — | — | — | — | — | — | — | — | — |
| Net income | -14.4M | -21.2M | -17.4M | -21.9M | -20.6M | -20.6M | -64.4M | -31.4M | -35M | -35.5M | -43.3M | -49.9M |
| Net margin | — | — | — | — | — | — | — | — | — | — | — | — |
| EBITDA | -16.7M | -23.1M | -20.7M | -25.7M | -24.2M | -23.7M | -66.8M | -33.6M | -38.3M | -38.8M | -46.1M | -52.7M |
| EPS | -0.45 | — | -0.7 | -0.65 | -0.61 | — | -1.9 | -0.9 | -0.83 | — | -0.96 | -1.05 |
| Diluted EPS | -0.45 | — | -0.7 | -0.65 | -0.61 | — | -1.9 | -0.9 | -0.83 | — | -0.96 | -1.05 |
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 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|
| Market cap | — | — | — | 838.3M | — | 1.4B |
| Enterprise value | — | — | — | 619.7M | — | 1B |
| Shares outstanding | — | 32M | 32M | 31.5M | 38.5M | 38.5M |
| Metric | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|
| P/E | — | — | — | — | — | -6.79 |
| P/B | — | — | — | 3.25 | — | 3.75 |
| EV/EBITDA | — | — | — | -6.57 | — | -5.8 |
| Earnings yield | — | — | — | — | — | -14.7% |
| FCF yield | — | — | — | -8.38% | — | -6.19% |
| PEG | — | — | — | — | — | -0.41 |
| Metric | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|
| Operating margin | — | — | — | — | — | 0% |
| Net margin | — | — | — | — | — | 0% |
| ROE | — | 43.4% | 45.3% | -31.2% | -54.1% | -53.3% |
| ROA | — | -20.2% | -42.5% | -29.3% | -49.9% | -33.1% |
| Return on tangible assets | — | -20.2% | -42.5% | -29.3% | -49.9% | -41.5% |
| Metric | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|
| Current ratio | — | 21.8 | 13.8 | 13.1 | 12.8 | 14.2 |
| Quick ratio | — | 21.8 | 13.8 | 13.1 | 12.8 | 14.2 |
| Debt / equity | — | -0 | -0 | 0 | 0 | 0 |
| Debt / assets | — | 0 | 0 | 0 | 0 | 0 |
| Net debt / EBITDA | — | 4.42 | 2.01 | 2.32 | 1.76 | 2.12 |
| Metric | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|
| Revenue per share | — | 0 | 0 | 0 | 0 | 0 |
| EPS (basic) | — | -1.15 | -2.17 | -2.56 | -4.32 | -4.32 |
| EPS (diluted) | — | -1.15 | -2.17 | -2.56 | -4.32 | -3.55 |
| Book value per share | — | -2.66 | -4.79 | 8.19 | 7.99 | 7.59 |
| FCF per share | — | -1.37 | -1.75 | -2.23 | -4.18 | -3.11 |
| Cash per share | — | 5.11 | 4.71 | 6.95 | 8.13 | 7.57 |
| Metric | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|
| Payout ratio | — | — | — | — | — | 0% |
| 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 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash & short-term investments | 37.3M | 163.4M | 150.4M | 218.9M | 312.8M |
| Receivables | — | — | — | — | — |
| Inventory | — | — | — | — | — |
| Total current assets | 43M | 182.6M | 160M | 227M | 332.9M |
| Property, plant & equipment | 0 | 0 | 0 | 0 | 0 |
| Goodwill & intangibles | — | — | — | — | — |
| Total assets | 43M | 182.8M | 163.1M | 274.9M | 333.2M |
| Accounts payable | 293K | 3.1M | 4.5M | 3.8M | 5.9M |
| Short-term debt | — | 128K | 140K | 162K | 14K |
| Total current liabilities | 1.8M | 8.4M | 11.6M | 17.3M | 25.9M |
| Long-term debt | 0 | 11K | 177K | 14K | 0 |
| Total liabilities | 1.8M | 267.9M | 316.3M | 17.3M | 25.9M |
| Shareholders' equity | 41.2M | -85.1M | -153.2M | 257.7M | 307.2M |
| Total debt | 0 | 139K | 317K | 176K | 14K |
| Net debt | -37.3M | -163.2M | -150.1M | -74.1M | -45.5M |
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 | 166.4M | 150.4M | 317.4M | 298.7M | 150.4M | 218.9M | 176.1M | 235.7M | 300.3M | 312.8M | 326.4M | 373.1M |
| Receivables | — | — | — | — | — | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current assets | 180M | 160M | 327.5M | 308.5M | 160M | 227M | 185.8M | 250.1M | 321.2M | 332.9M | 348.7M | 394.2M |
| Property, plant & equipment | 0 | 0 | 0 | 0 | 0 | 0 | 120K | 85K | 49K | 0 | 370K | 370K |
| Goodwill & intangibles | — | — | — | — | — | — | — | — | — | — | — | — |
| Total assets | 182M | 163.1M | 327.8M | 308.9M | 163.1M | 274.9M | 215.5M | 269.5M | 326.6M | 333.2M | 349.3M | 394.7M |
| Accounts payable | 4.8M | 4.5M | 4.1M | 3.8M | 4.5M | 3.8M | 4.4M | 4.1M | 5.9M | 5.9M | 8.7M | 2.2M |
| Short-term debt | 44K | 140K | 147K | 152K | 140K | 162K | 138K | 98K | 56K | 14K | 99K | 318K |
| Total current liabilities | 10.1M | 11.6M | 10M | 12.1M | 11.6M | 17.3M | 13M | 19.6M | 21.6M | 25.9M | 25M | 27.8M |
| Long-term debt | 0 | 177K | 138K | 98K | 177K | 14K | 0 | 0 | 0 | 0 | 320K | 33K |
| Total liabilities | 314.6M | 316.3M | 10.1M | 12.2M | 316.3M | 17.3M | 13M | 19.6M | 21.6M | 25.9M | 25.3M | 27.9M |
| Shareholders' equity | -132.6M | -153.2M | 317.7M | 296.7M | -153.2M | 257.7M | 202.5M | 249.9M | 305M | 307.2M | 324M | 366.8M |
| Total debt | 44K | 317K | 285K | 250K | 317K | 176K | 138K | 98K | 56K | 14K | 419K | 351K |
| Net debt | -141.3M | -150.1M | -317.1M | -298.4M | -150.1M | -74.1M | -49.7M | -112.7M | -112.6M | -45.5M | -61.7M | -154.3M |
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 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|
| Net income | -36.9M | -69.3M | -80.5M | -166.3M |
| Depreciation & amortization | — | — | — | — |
| Stock-based compensation | 424K | 895K | 3.2M | 12.5M |
| Change in working capital | 2.8M | 1.4M | -773K | 2.1M |
| Operating cash flow | -33.7M | -67.1M | -78.1M | -160.6M |
| Capital expenditure | — | — | — | — |
| Investing cash flow | 0 | 0 | -192.5M | -71.2M |
| Dividends paid | — | — | — | — |
| Share repurchases | — | — | — | — |
| Financing cash flow | 169.7M | 42.5M | 185.9M | 202.6M |
| Net change in cash | 136M | -24.6M | -84.6M | -29.3M |
| Free cash flow | -43.6M | -55.8M | -70.2M | -160.6M |
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 | 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 | -14.4M | -21.2M | -17.4M | -21.9M | -20.6M | -20.6M | -64.4M | -31.4M | -35M | -35.5M | -43.3M | -49.9M |
| Depreciation & amortization | — | — | — | — | — | — | — | — | — | — | — | — |
| Stock-based compensation | 217K | 319K | 625K | 765K | 866K | 952K | 2.3M | 3.3M | 3.7M | 3.2M | 5.5M | 6.7M |
| Change in working capital | -2.2M | 260K | -365K | -368K | 830K | -870K | 578K | -308K | 1.9M | -13K | 2.9M | -6.5M |
| Operating cash flow | -16.4M | -20.6M | -17.2M | -21.5M | -18.9M | -20.6M | -61.5M | -26.1M | -35.8M | -30.7M | -41.9M | -39.6M |
| Capital expenditure | — | — | — | — | — | — | — | — | — | — | — | — |
| Investing cash flow | 0 | 0 | — | 0 | 0 | -194.2M | 36.8M | 13.9M | -50.8M | -71.2M | 3.6M | 46.1M |
| Dividends paid | — | — | — | — | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — | — | — | — | — |
| Financing cash flow | 0 | -1.3M | 185.6M | 319K | 0 | 0 | 6.5M | 75M | 86.4M | 34.6M | 54.7M | 85.2M |
| Net change in cash | -16.4M | -22M | 168.5M | -21.2M | -18.9M | -214.7M | -18.3M | 62.8M | -142K | -67.2M | 16.4M | 91.7M |
| Free cash flow | -15.4M | -14.9M | -18.6M | -19.1M | -16.3M | -16.2M | -68M | -26.1M | -35.8M | -30.7M | -41.9M | -39.6M |