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 | -$0.56 | -$0.41 | +26.8% | — | $0 | — |
| Q4 25 | -$0.48 | -$0.57 | -18.7% | — | $0 | — |
| Q3 25 | -$0.41 | -$0.53 | -29.3% | — | $0 | — |
| Q2 25 | -$0.41 | -$0.44 | -7.3% | — | $0 | — |
| Q1 25 | -$0.41 | -$0.4 | +2.4% | — | $0 | — |
| Q4 24 | -$0.29 | -$0.4 | -37.9% | — | $0 | — |
| Q3 24 | -$0.43 | -$0.37 | +14.0% | — | $0 | — |
| Q2 24 | -$0.77 | -$0.48 | +37.7% | — | $0 | — |
| Q1 24 | -$0.61 | -$0.75 | -23.0% | — | $0 | — |
| Q4 23 | -$0.5 | -$0.47 | +6.0% | — | $0 | — |
| Q3 23 | -$0.48 | -$0.4 | +16.7% | — | $0 | — |
| Q2 23 | -$0.47 | -$0.34 | +27.7% | — | $0 | — |
| Q1 23 | -$0.48 | -$0.43 | +10.4% | — | $0 | — |
| Q4 22 | -$0.45 | -$0.41 | +8.9% | — | $0 | — |
| Q3 22 | -$0.44 | -$0.1 | +77.3% | — | $0 | — |
| Q2 22 | -$0.52 | -$0.38 | +26.9% | — | $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 | — | -$1.94 | — | — | $0 | — |
| FY24 | — | -$2 | — | — | $0 | — |
| FY23 | — | -$1.63 | — | — | $0 | — |
| FY22 | — | -$1.39 | — | — | $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 | $48.6M | $351.4M | $0 | $0 | $0 | $0 |
| YoY change | — | 0% | +InfinityT% | +622.5% | -100% | 0% | 0% | 0% |
Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.
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 | 48.6M | 351.4M | 0 | 0 | 0 | 0 |
| Cost of revenue | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — | — |
| Research & development | 6.7M | 10.2M | 38M | 167.2M | 81.9M | 114.2M | 144.1M | 148M |
| Selling, general & administrative | 2.8M | 4.4M | 21.6M | 45.8M | 48.7M | 49.9M | 48.8M | 32.9M |
| Operating expenses | 9.5M | 14.6M | 59.7M | 213M | 130.7M | 164.2M | 192.9M | 180.9M |
| Operating income | -9.5M | -14.6M | -11M | 138.4M | -130.7M | -164.2M | -192.9M | -180.9M |
| Operating margin | — | — | -22.7% | 39.4% | — | — | — | — |
| Non-operating income, net | — | — | — | — | — | — | — | — |
| Pretax income | -9.1M | -14M | -10.9M | 138.6M | -119.5M | -134.9M | -167.5M | -164.5M |
| Income tax | — | 0 | 0 | 17.4M | -3.6M | 1M | 925K | -6.2M |
| Net income | -9.1M | -14M | -10.9M | 121.2M | -115.9M | -136M | -168.4M | -158.3M |
| Net margin | — | — | -22.5% | 34.5% | — | — | — | — |
| EBITDA | -9.5M | -14.6M | -11M | 138.4M | -130.4M | -163.7M | -192.5M | -180.5M |
| EPS | -0.19 | -0.3 | -0.51 | 1.46 | -1.39 | -1.63 | -2 | -1.94 |
| Diluted EPS | -0.19 | -0.3 | -0.51 | 1.37 | -1.39 | -1.63 | -2 | -1.94 |
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 | 28.2M | 35M | 57.6M | 34.7M | 26.2M | 25.7M | 29.6M | 32.3M | 38.3M | 47.8M | 41.1M | 28.1M |
| Selling, general & administrative | 12.6M | 11.5M | 12.2M | 12.2M | 11M | 13.4M | 9.5M | 9.1M | 7.2M | 7.1M | 6.9M | 6.9M |
| Operating expenses | 40.8M | 46.6M | 69.8M | 46.9M | 37.2M | 39M | 39M | 41.3M | 45.6M | 54.9M | 48M | 35.1M |
| Operating income | -40.8M | -46.6M | -69.8M | -46.9M | -37.2M | -39M | -39M | -41.3M | -45.6M | -54.9M | -48M | -35.1M |
| Operating margin | — | — | — | — | — | — | — | — | — | — | — | — |
| Non-operating income, net | — | — | — | — | — | — | — | — | — | — | — | — |
| Pretax income | -32.9M | -38.8M | -62.9M | -40.3M | -30.9M | -33.3M | -34.1M | -37M | -41.9M | -51.6M | -45.4M | -32.9M |
| Income tax | 221K | 349K | 231K | 243K | 226K | 225K | 203K | 207K | 196K | -6.8M | 50K | 24K |
| Net income | -33.1M | -39.2M | -63.2M | -40.5M | -31.2M | -33.5M | -34.3M | -37.2M | -42M | -44.9M | -45.4M | -32.9M |
| Net margin | — | — | — | — | — | — | — | — | — | — | — | — |
| EBITDA | -40.7M | -46.5M | -69.7M | -46.8M | -37.1M | -38.9M | -38.9M | -41.2M | -45.5M | -54.8M | -47.9M | -35M |
| EPS | -0.4 | — | -0.75 | -0.48 | -0.37 | -0.4 | -0.4 | -0.44 | -0.53 | -0.57 | -0.57 | -0.41 |
| Diluted EPS | -0.4 | — | -0.75 | -0.48 | -0.37 | -0.4 | -0.4 | -0.44 | -0.53 | -0.57 | -0.57 | -0.41 |
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 | — | — | — | — | 400.4M | 254.3M | 282.3M | 290.9M | 417.1M |
| Enterprise value | — | — | — | — | -243.2M | -321.4M | -170.8M | -10M | 195.6M |
| Shares outstanding | 47.3M | 47.3M | 21.6M | 82.8M | 83.2M | 83.4M | 84.3M | 81.5M | 81.5M |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| P/E | — | — | — | — | — | — | — | — | -2.69 |
| P/B | — | — | — | — | 0.63 | 0.46 | 0.64 | 1.06 | 2.07 |
| EV/EBITDA | — | — | — | — | 1.86 | 1.96 | 0.89 | 0.06 | -1.07 |
| Earnings yield | — | — | — | — | — | — | — | — | -37.2% |
| FCF yield | — | — | — | — | -30.7% | -33.6% | -48% | -45.4% | -22.3% |
| PEG | — | — | — | — | — | — | — | — | 0.39 |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Operating margin | — | — | -22.7% | 39.4% | — | — | — | — | 0% |
| Net margin | — | — | -22.5% | 34.5% | — | — | — | — | 0% |
| ROE | 25.1% | 28.3% | -2% | 17.1% | -18.1% | -24.5% | -38.4% | -57.5% | -58.1% |
| ROA | -26% | -63.6% | -1.27% | 15.7% | -17.4% | -22.9% | -36.2% | -50.2% | -36.7% |
| ROIC | — | 20.5% | 3.65% | -223.7% | 4.3K% | 800.3% | 1.4K% | 707.9% | 1.2K% |
| Return on tangible assets | -26% | -63.6% | -1.27% | 15.7% | -17.4% | -22.9% | -36.2% | -50.2% | -71.2% |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Current ratio | 19.7 | 9 | 2.73 | 13.6 | 35.8 | 18.2 | 24.9 | 7.82 | 8.13 |
| Quick ratio | 19.7 | 9 | 2.73 | 13.6 | 35.8 | 18.2 | 24.9 | 7.82 | 8.13 |
| Debt / equity | — | — | — | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt / assets | — | — | — | 0 | 0 | 0 | 0 | 0 | 0 |
| Net debt / EBITDA | — | — | — | -5.52 | 4.94 | 3.52 | 2.35 | 1.67 | 1.2 |
| Effective tax rate | — | 0% | 0% | 12.6% | 0% | 0% | 0% | 0% | 0% |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Revenue per share | 0 | 0 | 2.25 | 4.24 | 0 | 0 | 0 | 0 | 0 |
| EPS (basic) | -0.19 | -0.3 | -0.51 | 1.46 | -1.39 | -1.63 | -2 | -1.94 | -1.94 |
| EPS (diluted) | -0.19 | -0.3 | -0.51 | 1.37 | -1.39 | -1.63 | -2 | -1.94 | -2.08 |
| Book value per share | -0.76 | -1.05 | 25.4 | 8.57 | 7.69 | 6.66 | 5.21 | 3.38 | 2.54 |
| FCF per share | -0.17 | -0.27 | 13.7 | -1.05 | -1.48 | -1.02 | -1.61 | -1.62 | -1.9 |
| Cash per share | 0.73 | 0.46 | 39.4 | 9.23 | 7.77 | 6.93 | 5.4 | 3.7 | 2.74 |
| Capex per share | 0 | 0 | 0 | 0 | 0.02 | 0 | — | — | — |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Capex / revenue | — | — | 0.05% | 0% | — | — | — | — | — |
| Capex / operating cash flow | -0.14% | -0.02% | 0.01% | -0% | -2.71% | 0% | — | — | — |
| Payout ratio | — | — | — | — | — | — | — | — | 0% |
| $1.46 |
| — |
| — |
| $351.4M |
| — |
| FY20 | — | -$0.51 | — | — | $48.6M | — |
| FY19 | — | -$0.3 | — | — | $0 | — |
| FY18 | — | -$0.19 | — | — | $0 | — |
| 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 |
| 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 | 34.5M | 21.7M | 850.1M | 764.4M | 646.7M | 578.1M | 454.7M | 301.8M |
| Receivables | — | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — | — |
| Total current assets | 34.7M | 21.9M | 863.5M | 772.4M | 660.9M | 590.5M | 462.4M | 311M |
| Property, plant & equipment | 56K | 41K | 48K | 184K | 4.1M | 3.1M | 2.1M | 1.1M |
| Goodwill & intangibles | — | — | — | — | — | — | — | — |
| Total assets | 34.9M | 22.1M | 863.6M | 772.9M | 666.7M | 595M | 464.7M | 315.2M |
| Accounts payable | 391K | 548K | 60K | 4.5M | 2.6M | 4.3M | 4.5M | 12.9M |
| Short-term debt | — | — | — | 197K | 721K | 760K | 800K | 843K |
| Total current liabilities | 1.8M | 2.4M | 315.8M | 56.9M | 18.5M | 32.4M | 18.6M | 39.8M |
| Long-term debt | — | — | — | 0 | 2.4M | 1.6M | 842K | 0 |
| Total liabilities | 71M | 71.6M | 315.8M | 62.8M | 26.1M | 39.8M | 25.8M | 39.8M |
| Shareholders' equity | -36.2M | -49.6M | 547.8M | 710.1M | 640.6M | 555.2M | 438.9M | 275.4M |
| Total debt | — | — | — | 197K | 3.1M | 2.4M | 1.6M | 843K |
| Net debt | — | — | — | -764.2M | -185.3M | -141.4M | -63.1M | -94.9M |
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 | 595.1M | 578.1M | 541.5M | 502.2M | 482.8M | 454.7M | 425.4M | 379.7M | 329.3M | 301.8M | 256M | 219.5M |
| Receivables | — | — | — | — | — | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current assets | 603.3M | 590.5M | 548.8M | 506.4M | 486.9M | 462.4M | 433.7M | 385.6M | 336.1M | 311M | 263.2M | 228.7M |
| Property, plant & equipment | 1.4M | 3.1M | 1.2M | 2.6M | 2.4M | 2.1M | 1.9M | 1.6M | 1.4M | 1.1M | 831K | 569K |
| Goodwill & intangibles | — | — | — | — | — | — | — | — | — | — | — | — |
| Total assets | 608.1M | 595M | 553M | 510.4M | 491M | 464.7M | 440M | 391.6M | 343M | 315.2M | 267.1M | 232.3M |
| Accounts payable | 395K | 4.3M | 21.1M | 5.5M | 5.8M | 4.5M | 7.4M | 8.8M | 3.5M | 12.9M | 9.4M | 10.1M |
| Short-term debt | 750K | 760K | 769K | 780K | 790K | 800K | 811K | 821K | 832K | 843K | 634K | 424K |
| Total current liabilities | 18.9M | 32.4M | 41.3M | 26.6M | 25.2M | 18.6M | 21.7M | 20.1M | 20.2M | 39.8M | 33.4M | 28.1M |
| Long-term debt | 1.8M | 1.6M | 1.4M | 1.2M | 1M | 842K | 634K | 425K | 213K | 0 | — | — |
| Total liabilities | 26.3M | 39.8M | 48.7M | 33.9M | 32.4M | 25.8M | 28.9M | 27.2M | 27.2M | 39.8M | 33.4M | 28.1M |
| Shareholders' equity | 581.7M | 555.2M | 504.4M | 476.5M | 458.5M | 438.9M | 411.1M | 364.4M | 315.8M | 275.4M | 233.7M | 204.2M |
| Total debt | 2.6M | 2.4M | 2.2M | 2M | 1.8M | 1.6M | 1.4M | 1.2M | 1M | 843K | 634K | 424K |
| Net debt | -135.3M | -141.4M | -158.7M | -241.4M | -96.6M | -63.1M | -117.9M | -86.5M | -76.3M | -94.9M | -78.7M | -76.1M |
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 | -9.1M | -14M | -10.9M | 121.2M | -115.9M | -136M | -168.4M | -158.3M |
| Depreciation & amortization | 17K | 17K | 19K | 29K | 260K | 416K | 416K | 416K |
| Stock-based compensation | 414K | 624K | 7.5M | 39.6M | 46.7M | 49.4M | 51.8M | 20.7M |
| Change in working capital | -90K | 157K | 295.1M | -291.2M | -2.7M | 1.6M | 31K | 5.4M |
| Operating cash flow | -8.7M | -13.2M | 291.6M | -130.4M | -71.6M | -84.5M | -116.2M | -132M |
| Capital expenditure | -12K | -2K | -26K | -4K | -1.9M | 0 | — | — |
| Investing cash flow | -12K | -2K | -26K | -4K | -455.4M | 40.3M | 56.1M | 188.8M |
| Dividends paid | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | -25.5M |
| Financing cash flow | 27.5M | -15K | 531.7M | 1.5M | 230K | — | — | -25.9M |
| Net change in cash | 18.7M | -13.3M | 823.3M | -128.9M | -526.8M | -44.2M | -60.1M | 30.8M |
| Free cash flow | -7.9M | -12.8M | 296.7M | -87M | -122.9M | -85.4M | -135.5M | -132M |
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 | -33.1M | -39.2M | -63.2M | -40.5M | -31.2M | -33.5M | -34.3M | -37.2M | -42M | -44.9M | -45.4M | -32.9M |
| Depreciation & amortization | 104K | 104K | 104K | 104K | 104K | 104K | 104K | 104K | 104K | 104K | 104K | 104K |
| Stock-based compensation | 12.4M | 12.2M | 12.6M | 12.7M | 12.2M | 14.3M | 7M | 4.7M | 4.5M | 4.6M | 3.7M | 3.4M |
| Change in working capital | -3.6M | 3.8M | 16.8M | -15.7M | -15K | -1.1M | -1.3M | 1.4M | -6.5M | 11.7M | -3.5M | 560K |
| Operating cash flow | -24.3M | -23.1M | -33.6M | -43.4M | -18.9M | -20.2M | -28.5M | -32.9M | -40.4M | -28.2M | -46.4M | -37.1M |
| Capital expenditure | 0 | 0 | — | — | — | — | — | — | — | — | — | — |
| Investing cash flow | -58.5M | 27.8M | 56.8M | 124.7M | -122M | -3.4M | 85.6M | 15.3M | 41.3M | 46.6M | 29.7M | 34.3M |
| Dividends paid | — | — | — | — | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | -13.6M | -11.4M | 0 | -746K | 746K |
| Financing cash flow | — | — | — | — | — | — | — | -13.6M | -11.4M | 0 | -746K | 746K |
| Net change in cash | -82.8M | 4.7M | 23.2M | 81.3M | -140.9M | -23.6M | 57.1M | -31.2M | -10.5M | 18.4M | -17.4M | -2M |
| Free cash flow | -17.6M | -21.8M | -39.9M | -42.2M | -23M | -30.4M | -30.6M | -32.9M | -40.4M | -28.2M | -46.4M | -37.1M |