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 % |
|---|---|---|---|---|---|---|
| Q3 25 | -$14.8 | -$13.5 | +9.0% | — | $0 | — |
| Q2 25 | -$14.7 | -$16 | -9.1% | — | $0 | — |
| Q1 25 | -$14.7 | -$13 | +11.4% | — | $0 | — |
| Q4 24 | -$19 | -$15 | +21.1% | — | $0 | — |
| Q3 24 | -$18.5 | -$11 | +40.5% | — | $11M | — |
| Q2 24 | -$23 | -$22 | +4.3% | — | $0 | — |
| Q1 24 | -$0.54 | -$0.48 | +11.1% | — | $0 | — |
| Q4 23 | -$39.6 | -$28 | +29.3% | — | $0 | — |
| Q3 23 | -$0.8 | -$0.7 | +12.5% | — | $0 | — |
| Q2 23 | -$32.1 | -$37.5 | -16.8% | — | $0 | — |
| Q1 23 | -$0.63 | -$0.58 | +7.9% | — | $0 | — |
| Q4 22 | -$0.7 | -$0.63 | +10.0% | — | $0 | — |
| Q3 22 | -$0.8 | -$0.69 | +13.8% | — | $0 | — |
| Q2 22 | -$0.69 | -$0.77 | -11.6% | — | $0 | — |
| Q1 22 | -$0.67 | -$0.65 | +3.0% | — | $0 | — |
| Q4 21 | -$33.5 | -$31.5 | +6.0% | — | $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 | — | -$50.5 | — | — | $2M | — |
| FY24 | — | -$1.2 | — | — | $11M | — |
| FY23 | — | -$2.58 | — | — | $0 | — |
| FY22 | — | -$2.74 | — | — | $0 | — |
| FY21 | — | -$2.76 |
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 | $10.6M | $5.2M | $429K | $250K | $0 | $0 | $11M | $2M |
| YoY change | — | -51.1% | -91.8% | -41.7% | -100% | 0% | +InfinityT% | -81.8% |
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 | 10.6M | 5.2M | 429K | 250K | 0 | 0 | 11M | 2M |
| Cost of revenue | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — | — |
| Research & development | 26.3M | 25.9M | 19.9M | 58.3M | 79.3M | 103.7M | 63.1M | 43.6M |
| Selling, general & administrative | 12.6M | 7.5M | 10.6M | 38.4M | 28.8M | 26M | 21.8M | 17.7M |
| Operating expenses | 38.9M | 33.5M | 30.5M | 96.7M | 108.1M | 129.7M | 84.9M | 61.3M |
| Operating income | -28.2M | -28.3M | -30.1M | -96.4M | -108.1M | -129.7M | -73.9M | -59.3M |
| Operating margin | -265.7% | -543.6% | -7K% | -38.6K% | — | — | -672.2% | -3K% |
| Non-operating income, net | -5K | -85K | -4.5M | 691K | 10K | -87K | 798K | -1.1M |
| Pretax income | -29M | -29.9M | -35.9M | -95.4M | -106.5M | -123.5M | -69.8M | -59.6M |
| Income tax | — | — | — | — | — | — | — | — |
| Net income | -29M | -29.9M | -35.9M | -95.4M | -106.5M | -123.5M | -69.8M | -59.6M |
| Net margin | -272.7% | -574.1% | -8.4K% | -38.2K% | — | — | -634.3% | -3K% |
| EBITDA | -27.2M | -27.3M | -29M | -94.8M | -106.9M | -128.5M | -73.8M | -59.2M |
| EPS | -1.34 | -1.75 | -3.19 | -2.76 | -2.74 | -2.58 | -1.2 | -50.5 |
| Diluted EPS | -1.34 | -1.75 | -3.19 | -2.76 | -2.74 | -2.58 | -1.2 | -50.5 |
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 | 11M | 0 | 0 | 0 | 0 | 2M | 0 | 6.5M |
| Cost of revenue | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — | — | — | — | — | — |
| Research & development | 28.4M | 22.7M | 18.9M | 16.2M | 16.4M | 11.7M | 12.4M | 13.7M | 9.5M | 8M | 4.6M | 3.3M |
| Selling, general & administrative | 6.6M | 5.9M | 5.6M | 5.8M | 5.9M | 4.6M | 5.3M | 5M | 4.3M | 3.3M | 4.7M | 2.9M |
| Operating expenses | 35M | 28.5M | 24.5M | 22M | 22.3M | 16.2M | 17.6M | 18.6M | 13.8M | 11.3M | 9.3M | 6.3M |
| Operating income | -35M | -28.5M | -24.5M | -22M | -11.3M | -16.2M | -17.6M | -18.6M | -13.8M | -9.3M | -9.3M | 227K |
| Operating margin | — | — | — | — | -102.5% | — | — | — | — | -462.8% | — | 3.49% |
| Non-operating income, net | -39K | -27K | — | — | -8K | 806K | 1.9M | -297K | -2.1M | -602K | 2.9M | 209K |
| Pretax income | -33.3M | -26.9M | -23.2M | -21.1M | -10.6M | -14.9M | -15.3M | -18.7M | -15.8M | -9.8M | -6.3M | 452K |
| Income tax | — | — | — | — | — | — | — | — | — | — | — | — |
| Net income | -33.3M | -26.9M | -23.2M | -21.1M | -10.6M | -14.9M | -15.3M | -18.7M | -15.8M | -9.8M | -6.3M | 452K |
| Net margin | — | — | — | — | -96.2% | — | — | — | — | -489.2% | — | 6.95% |
| EBITDA | -34.8M | -28.2M | -24.2M | -21.7M | -11M | -16M | -19.3M | -18.2M | -11.6M | -10.1M | -11.9M | 7K |
| EPS | -0.7 | — | -0.48 | -0.44 | -0.22 | -0.26 | -13 | -16 | -13.5 | -8 | -4.22 | 0.27 |
| Diluted EPS | -0.7 | — | -0.48 | -0.44 | -0.22 | -0.26 | -13 | -16 | -13.5 | -8 | -4.22 | 0.27 |
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 | — | — | — | — | — | — | — | — | 2.7M |
| Enterprise value | — | — | — | — | — | — | — | — | 6.8M |
| Shares outstanding | 21.6M | 21.6M | 8.4M | 34.6M | 38.9M | 47.8M | 58.1M | 1.2M | 1.2M |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| P/E | — | — | — | — | — | — | — | — | -0.03 |
| P/S | — | — | — | — | — | — | — | — | 0.29 |
| P/B | — | — | — | — | — | — | — | — | -0.07 |
| EV/EBITDA | — | — | — | — | — | — | — | — | -0.22 |
| EV/Sales | — | — | — | — | — | — | — | — | 0.8 |
| Earnings yield | — | — | — | — | — | — | — | — | -3.2K% |
| FCF yield | — | — | — | — | — | — | — | — | -444.9% |
| PEG | — | — | — | — | — | — | — | — | 0 |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Operating margin | -265.7% | -543.6% | -7K% | -38.6K% | — | — | -672.2% | -3K% | 3.49% |
| Net margin | -272.7% | -574.1% | -8.4K% | -38.2K% | — | — | -634.3% | -3K% | 0% |
| ROE | 101.9% | 53.3% | -17.1% | -45.3% | -59% | -174.7% | -489.1% | 164.7% | 164.7% |
| ROA | -174.2% | -319.8% | -14.6% | -37.5% | -47.2% | -103.2% | -133.1% | -431.1% | -105.9% |
| Return on tangible assets | -174.2% | -319.8% | -14.6% | -37.5% | -47.2% | -103.2% | -133.1% | -431.1% | -330.9% |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Current ratio | 1.38 | 0.17 | 7.46 | 12.5 | 9.53 | 4.11 | 3.52 | 0.37 | 0.2 |
| Quick ratio | 1.38 | 0.17 | 7.46 | 12.5 | 9.53 | 4.11 | 3.52 | 0.37 | 0.2 |
| Debt / equity | -0.53 | -0.32 | 0 | 0.03 | 0.02 | 0.03 | 0.06 | -0.17 | -0 |
| Debt / assets | 0.9 | 1.94 | 0 | 0.02 | 0.02 | 0.02 | 0.02 | 0.45 | 0.62 |
| Net debt / EBITDA | -0.15 | -0.53 | 8.21 | 2.53 | 1.98 | 0.85 | 0.65 | 0.02 | -0.13 |
| Interest coverage | -29.5 | -17.3 | -24.8 | -31.8K | — | — | — | — | — |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Revenue per share | 0.49 | 0.24 | 0.05 | 0.01 | 0 | 0 | 0.19 | 1.7 | 6.14 |
| EPS (basic) | -1.34 | -1.75 | -3.19 | -2.76 | -2.74 | -2.58 | -1.2 | -50.5 | -50.5 |
| EPS (diluted) | -1.34 | -1.75 | -3.19 | -2.76 | -2.74 | -2.58 | -1.2 | -50.5 | -25.1 |
| Book value per share | -1.32 | -2.59 | 24.9 | 6.1 | 4.63 | 1.48 | 0.25 | -30.8 | -21.8 |
| FCF per share | -1.68 | -0.52 | -4.38 | -1.83 | -2.33 | -2.18 | -1.24 | -41 | -14.1 |
| Cash per share | 0.5 | 0.17 | 28.3 | 7.09 | 5.54 | 2.33 | 0.84 | 6.05 | 0.93 |
| Capex per share | 0.05 | 0.07 | 0.07 | 0.03 | 0.01 | 0 | 0 | — | — |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Capex / revenue | 9.3% | 29% | 137.5% | 369.6% | — | — | 0% | — | — |
| Capex / operating cash flow | -2.76% | -14.2% | -1.49% | -1.51% | -0.3% | -0.09% | 0% | — | — |
| Payout ratio | — | — | — | — | — | — | — | — | 0% |
| — |
| — |
| $250K |
| — |
| FY20 | — | -$3.19 | — | — | $429K | — |
| FY19 | — | -$1.75 | — | — | $5.2M | — |
| FY18 | — | -$1.34 | — | — | $10.6M | — |
| 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 | $11M | $0 | $0 | $0 | $0 | $2M | $0 | $6.5M |
| YoY change | 0% | 0% | 0% | 0% | +InfinityT% | 0% | 0% | 0% | -100% | +InfinityT% | 0% | +InfinityT% |
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 | 10.9M | 3.7M | 238.6M | 245M | 215.5M | 111.5M | 49M | 7.1M |
| Receivables | — | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — | — |
| Total current assets | 12.7M | 4.5M | 240.7M | 247.3M | 220.4M | 116.4M | 51.2M | 8M |
| Property, plant & equipment | 3.9M | 4.7M | 4.1M | 7M | 5.2M | 3.1M | 1.2M | 5.7M |
| Goodwill & intangibles | — | — | — | — | — | — | — | — |
| Total assets | 16.6M | 9.3M | 244.9M | 254.4M | 225.7M | 119.7M | 52.4M | 13.8M |
| Accounts payable | 2M | 5.1M | 2.5M | 1.2M | 4.2M | 3.8M | 1.9M | 8.2M |
| Short-term debt | — | 9.7M | — | 1.4M | 1.5M | 1.6M | 836K | 1.4M |
| Total current liabilities | 9.2M | 26.7M | 32.3M | 19.8M | 23.1M | 28.3M | 14.5M | 21.9M |
| Long-term debt | 15M | 8.4M | 682K | 4M | 2.5M | 836K | 0 | 4.8M |
| Total liabilities | 45.1M | 65.3M | 35M | 43.6M | 45.4M | 49M | 38.2M | 50M |
| Shareholders' equity | -28.4M | -56M | 210M | 210.8M | 180.3M | 70.7M | 14.3M | -36.2M |
| Total debt | 15M | 18.1M | 682K | 5.4M | 4M | 2.5M | 836K | 6.2M |
| Net debt | 4.1M | 14.4M | -237.9M | -239.6M | -211.5M | -109M | -48.2M | -918K |
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 | 141.3M | 111.5M | 80.6M | 61.7M | 56.5M | 49M | 32.4M | 18.2M | 8.3M | 7.1M | 2M | 1.5M |
| Receivables | — | — | — | — | — | — | — | — | — | — | — | 2M |
| Inventory | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current assets | 147.5M | 116.4M | 86.4M | 66.5M | 60.6M | 51.2M | 37.5M | 20.6M | 9.7M | 8M | 3.1M | 4.3M |
| Property, plant & equipment | 3.7M | 3.1M | 2.6M | 2.1M | 1.7M | 1.2M | 753K | 6.4M | 6.1M | 5.7M | 5.3M | 5.1M |
| Goodwill & intangibles | — | — | — | — | — | — | — | — | — | — | — | — |
| Total assets | 151.4M | 119.7M | 89.2M | 68.6M | 62.2M | 52.4M | 38.3M | 27.1M | 15.9M | 13.8M | 8.6M | 9.5M |
| Accounts payable | 6.3M | 3.8M | 3.4M | 1.4M | 2.9M | 1.9M | 4.7M | 4.6M | 5.9M | 8.2M | 12.1M | 12.7M |
| Short-term debt | 1.6M | 1.6M | 1.5M | 1.7M | 1.3M | 836K | 554K | 805K | 1.2M | 1.4M | 1.6M | 1.6M |
| Total current liabilities | 35.6M | 28.3M | 19.3M | 17.5M | 19.5M | 14.5M | 16M | 16.6M | 18M | 21.9M | 20.7M | 21M |
| Long-term debt | 1.3M | 836K | 415K | 0 | 0 | 0 | — | 5.2M | 5M | 4.8M | 4.5M | 4.3M |
| Total liabilities | 56.7M | 49M | 39.5M | 37.3M | 39.3M | 38.2M | 37.7M | 43.9M | 47.1M | 50M | 45.9M | 45.7M |
| Shareholders' equity | 94.7M | 70.7M | 49.7M | 31.4M | 23M | 14.3M | 547K | -16.7M | -31.2M | -36.2M | -37.3M | -36.2M |
| Total debt | 2.8M | 2.5M | 1.9M | 1.7M | 1.3M | 836K | 554K | 6M | 6.2M | 6.2M | 6.1M | 5.9M |
| Net debt | -138.4M | -109M | -78.7M | -60M | -55.3M | -48.2M | -31.8M | -12.2M | -2.1M | -918K | 4.1M | 4.3M |
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 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|
| Net income | -29M | -29.9M | -35.9M | -95.4M | -106.5M | -123.5M | -69.8M | -59.6M |
| Depreciation & amortization | 794K | 860K | 1M | 1.3M | 1.2M | 1.2M | 925K | 373K |
| Stock-based compensation | — | 0 | 3M | 25.1M | 14.6M | 13.5M | 8.9M | 5.4M |
| Change in working capital | -10.2M | 22.9M | -2.1M | 7.7M | 2.9M | 4.7M | -641K | 344K |
| Operating cash flow | -35.8M | -10.7M | -39.5M | -61.3M | -87.8M | -104M | -60.6M | -48.2M |
| Capital expenditure | -988K | -1.5M | -590K | -924K | -265K | -98K | 0 | — |
| Investing cash flow | -988K | -1.5M | -590K | -924K | -265K | -98K | 0 | — |
| Dividends paid | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — |
| Financing cash flow | 5M | 4M | 271.8M | 69.1M | 60.9M | -259K | 9.2M | 6.2M |
| Net change in cash | -31.8M | -8.2M | 231.7M | 6.9M | -27.2M | -104.4M | -51.4M | -42M |
| Free cash flow | -36.3M | -11.2M | -36.9M | -63.1M | -90.7M | -104.1M | -71.9M | -48.2M |
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 | -33.3M | -26.9M | -23.2M | -21.1M | -10.6M | -14.9M | -15.3M | -18.7M | -15.8M | -9.8M | -6.3M | 452K |
| Depreciation & amortization | 270K | 368K | 240K | 229K | 228K | 228K | 183K | 115K | 56K | 19K | 120K | 0 |
| Stock-based compensation | 3.5M | 2.7M | 2.3M | 2.5M | 2.2M | 1.9M | 1.6M | 1.4M | 1.3M | 1.1M | 956K | 619K |
| Change in working capital | -150K | -7.4M | -9.3M | -18K | -163K | -164K | 2.1M | -224K | 358K | 238K | 3.2M | 312K |
| Operating cash flow | -29.7M | -31.2M | -30M | -18.4M | -8.3M | -12.9M | -11.4M | -14.1M | -9.9M | -7.9M | -5.3M | -419K |
| Capital expenditure | -25K | -8K | 0 | 0 | 0 | 0 | 0 | — | — | — | — | — |
| Investing cash flow | -25K | -8K | 0 | 0 | 0 | 0 | 0 | — | — | — | — | — |
| Dividends paid | — | — | — | — | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — | — | — | — | — |
| Financing cash flow | -55K | -30K | -13K | -19K | -14K | 0 | -395K | -83K | -6K | -465K | -303K | -1K |
| Net change in cash | -29.8M | -31.3M | -30M | -18.4M | -8.3M | -12.9M | -11.8M | -14.2M | -9.9M | -8.4M | -5.6M | -420K |
| Free cash flow | -27.4M | -29.9M | -30.8M | -19.2M | -5.1M | -16.8M | -16.3M | -14.1M | -9.9M | -7.9M | -5.3M | -419K |