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 | -$0.2 | -$0.17 | +15.0% | — | $0 | — |
| Q1 26 | -$0.21 | -$0.16 | +23.8% | — | $0 | — |
| Q4 25 | -$0.17 | -$0.14 | +17.6% | — | $0 | — |
| Q3 25 | -$0.23 | -$0.15 | +34.8% | — | $0 | — |
| Q2 25 | -$0.23 | -$0.19 | +17.4% | — | $0 | — |
| Q1 25 | -$0.25 | $0.98 | +492.0% | — | $70M | — |
| Q4 24 | -$0.31 | -$0.28 | +9.7% | — | $0 | — |
| Q3 24 | -$0.36 | -$0.28 | +22.2% | — | $0 | — |
| Q2 24 | -$0.39 | -$0.36 | +7.7% | — | $0 | — |
| Q1 24 | -$0.43 | -$0.35 | +18.6% | — | $0 | — |
| Q4 23 | -$0.46 | -$0.34 | +26.1% | — | $0 | — |
| Q3 23 | -$0.49 | -$0.45 | +8.2% | — | $0 | — |
| Q2 23 | -$0.52 | -$0.52 | 0.0% | — | $0 | — |
| Q1 23 | -$0.61 | -$0.57 | +6.6% | — | $0 | — |
| Q4 22 | -$0.6 | -$0.59 | +1.7% | — | $0 | — |
| Q3 22 | -$0.62 | -$0.6 | +3.2% | — | $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 | — | $0.39 | — | — | $70M | — |
| FY24 | — | -$1.27 | — | — | $0 | — |
| FY23 | — | -$1.88 | — | — | $0 | — |
| FY22 | — | -$2.52 | — | — | $0 | — |
Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.
| Period | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $70M |
| YoY change | — | 0% | 0% | 0% | 0% | 0% | 0% | 0% | +InfinityT% |
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 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 70M |
| Cost of revenue | — | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — | — | — |
| Research & development | 3.5M | 7M | 21.8M | 48.2M | 96.8M | 64.4M | 59.4M | 51.3M | 33.6M |
| Selling, general & administrative | 666K | 2M | 7.6M | 21.4M | 30M | 28.4M | 27.1M | 27.5M | 16.6M |
| Operating expenses | 4.1M | 8.9M | 29.3M | 69.6M | 126.9M | 92.8M | 86.5M | 78.8M | 50.1M |
| Operating income | -4.1M | -8.9M | -29.3M | -69.6M | -126.9M | -92.8M | -86.5M | -78.8M | 19.9M |
| Operating margin | — | — | — | — | — | — | — | — | 28.4% |
| Non-operating income, net | -418K | -31K | -6.4M | -1.7M | -2.2M | -372K | 2.1M | 6.9M | -1.6M |
| Pretax income | -4.6M | -8.9M | -35.3M | -67.3M | -125.6M | -91.2M | -82.4M | -69.7M | 22.4M |
| Income tax | — | — | — | — | — | — | — | — | — |
| Net income | -4.6M | -8.9M | -35.3M | -67.3M | -125.6M | -91.2M | -82.4M | -69.7M | 22.4M |
| Net margin | — | — | — | — | — | — | — | — | 32% |
| EBITDA | -4.1M | -8.8M | -28.8M | -67.2M | -126.7M | -94.6M | -86M | -78.4M | 27.5M |
| EPS | -0.64 | -0.64 | -1.08 | -2.05 | -3.47 | -2.52 | -1.88 | -1.27 | 0.39 |
| Diluted EPS | -0.64 | -0.64 | -1.08 | -2.05 | -3.47 | -2.52 | -1.88 | -1.27 | 0.39 |
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 | 70M | 0 | 0 | 0 | 0 | 0 |
| Cost of revenue | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — | — | — | — | — | — |
| Research & development | 16.2M | 15.3M | 13.5M | 12.6M | 12.9M | 12.3M | 10.5M | 9.3M | 7.4M | 6.3M | 7M | 7.4M |
| Selling, general & administrative | 7.9M | 5.6M | 6.7M | 9.6M | 5.2M | 6M | 5M | 4.1M | 3.5M | 4M | 4.3M | 4.7M |
| Operating expenses | 24M | 20.9M | 20.2M | 22.1M | 18.1M | 18.3M | 15.5M | 13.4M | 11M | 10.3M | 11.3M | 12.1M |
| Operating income | -24M | -20.9M | -20.2M | -22.1M | -18.1M | -18.3M | 54.5M | -13.4M | -11M | -10.3M | -11.3M | -12.1M |
| Operating margin | — | — | — | — | — | — | 77.9% | — | — | — | — | — |
| Non-operating income, net | 566K | 1.1M | 1.4M | 1.8M | 2.1M | 1.7M | 1.4M | 1.7M | 1.3M | -6M | 1.2M | 1.2M |
| Pretax income | -23M | -19.4M | -18.2M | -19.9M | -15.6M | -16M | 56.5M | -10.6M | -8.5M | -15.1M | -9M | -9.9M |
| Income tax | — | — | — | — | — | — | — | — | — | — | — | — |
| Net income | -23M | -19.4M | -18.2M | -19.9M | -15.6M | -16M | 56.5M | -10.6M | -8.5M | -15.1M | -9M | -9.9M |
| Net margin | — | — | — | — | — | — | 80.8% | — | — | — | — | — |
| EBITDA | -23.9M | -20.8M | -20.2M | -22M | -18M | -18.2M | 54.6M | -13.3M | -10.9M | -10.2M | -11.2M | -12M |
| EPS | -0.45 | — | -0.35 | -0.36 | -0.28 | -0.28 | 1 | -0.19 | -0.15 | -0.27 | -0.16 | -0.17 |
| Diluted EPS | -0.45 | — | -0.35 | -0.36 | -0.28 | -0.28 | 0.98 | -0.19 | -0.15 | -0.27 | -0.16 | -0.17 |
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 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|---|
| Market cap | — | — | — | 1.1B | 192.9M | 65.2M | — | — | 138.2M | 105.1M |
| Enterprise value | — | — | — | 748.3M | 11.6M | -29.5M | — | — | 28.3M | 14.5M |
| Shares outstanding | 7.2M | 14M | 32.6M | 32.9M | 36.2M | 36.2M | 44M | 55M | 56.9M | 56.9M |
| Metric | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|---|
| P/E | — | — | — | — | — | — | — | — | 6.18 | 7.23 |
| P/S | — | — | — | — | — | — | — | — | 1.97 | 1.5 |
| P/B | — | — | — | 3.43 | 0.98 | 0.56 | — | — | 1.23 | 1.09 |
| EV/EBITDA | — | — | — | -11.1 | -0.09 | 0.31 | — | — | 1.03 | -0.33 |
| EV/Sales | — | — | — | — | — | — | — | — | 0.4 | 0.21 |
| Earnings yield | — | — | — | — | — | — | — | — | 16.2% | 13.8% |
| FCF yield | — | — | — | -4.96% | -53.3% | -130.8% | — | — | 21.4% | -22.4% |
| PEG | — | — | — | — | — | — | — | — | — | -0.69 |
| Metric | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating margin | — | — | — | — | — | — | — | — | 28.4% | 28.4% |
| Net margin | — | — | — | — | — | — | — | — | 32% | 0% |
| ROE | 68.9% | 57.5% | 74.8% | -21.9% | -64.1% | -78.8% | -70.6% | -83.7% | 19.9% | -37.2% |
| ROA | -57.4% | -17.2% | -22.3% | -20.4% | -50.7% | -58.3% | -52% | -56.8% | 15.6% | -19.1% |
| Return on tangible assets | -57.4% | -17.2% | -22.3% | -20.4% | -50.7% | -58.3% | -52% | -56.8% | 15.6% | -34% |
| Metric | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|---|
| Current ratio | 3.55 | 20.1 | 32 | 22.5 | 9.12 | 8.37 | 6.82 | 4.92 | 8.42 | 7.28 |
| Quick ratio | 3.55 | 20.1 | 32 | 22.5 | 9.12 | 8.37 | 6.82 | 4.92 | 8.42 | 7.28 |
| Debt / equity | — | — | 0 | 0.03 | 0.15 | 0.24 | 0.22 | 0.27 | 0.17 | 0.18 |
| Debt / assets | — | — | 0 | 0.03 | 0.11 | 0.18 | 0.16 | 0.18 | 0.13 | 0.14 |
| Net debt / EBITDA | — | — | 5.37 | 4.56 | 1.43 | 1 | 1.23 | 0.97 | -3.99 | 2.11 |
| Interest coverage | -69.8 | — | — | -67.3K | — | — | — | — | — | — |
| Metric | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue per share | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1.23 | 1.23 |
| EPS (basic) | -0.64 | -0.64 | -1.08 | -2.05 | -3.47 | -2.52 | -1.88 | -1.27 | 0.39 | 0.39 |
| EPS (diluted) | -0.64 | -0.64 | -1.08 | -2.05 | -3.47 | -2.52 | -1.88 | -1.27 | 0.39 | -0.75 |
| Book value per share | -0.93 | -1.11 | -1.44 | 9.35 | 5.41 | 3.19 | 2.66 | 1.51 | 1.97 | 1.67 |
| FCF per share | -0.34 | -0.61 | -0.76 | -1.59 | -2.84 | -2.35 | -1.52 | -1.13 | 0.52 | -0.57 |
| Cash per share | 1.09 | 3.7 | 4.74 | 9.57 | 5.8 | 3.39 | 2.99 | 1.79 | 2.26 | 1.92 |
| Capex per share | 0.01 | 0.01 | 0 | 0 | 0.07 | 0.01 | 0 | 0 | — | — |
| Metric | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|---|
| Capex / operating cash flow | -1.68% | -0.89% | -0.07% | -0.24% | -2.48% | -0.23% | -0.09% | -0.16% | — | — |
| Payout ratio | — | — | — | — | — | — | — | — | — | 0% |
| FY21 |
| — |
| -$3.47 |
| — |
| — |
| $0 |
| — |
| FY20 | — | -$2.05 | — | — | $0 | — |
| FY19 | — | -$1.08 | — | — | $0 | — |
| FY18 | — | -$0.64 | — | — | $0 | — |
| FY17 | — | -$0.64 | — | — | $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 | $70M | $0 | $0 | $0 | $0 | $0 |
| YoY change | 0% | 0% | 0% | 0% | 0% | 0% | +InfinityT% | 0% | 0% | 0% | -100% | 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 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|
| Cash & short-term investments | 7.9M | 51.7M | 154.7M | 315.1M | 209.8M | 122.8M | 131.4M | 98.6M | 128.7M |
| Receivables | — | — | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — | — | — |
| Total current assets | 7.9M | 51.7M | 155.7M | 319.6M | 215.7M | 127.7M | 134M | 101.2M | 132.4M |
| Property, plant & equipment | 102K | 134K | 164K | 8.8M | 30.7M | 27.4M | 23.7M | 20.4M | 9.7M |
| Goodwill & intangibles | — | — | — | — | — | — | — | — | — |
| Total assets | 8M | 51.8M | 158.3M | 329.7M | 247.7M | 156.3M | 158.6M | 122.6M | 143M |
| Accounts payable | 152K | 416K | 2M | 2.5M | 4.1M | 1.9M | 2.3M | 4M | 579K |
| Short-term debt | — | — | — | 1M | 320K | 2.8M | 3.1M | 3.4M | 3.7M |
| Total current liabilities | 2.2M | 2.6M | 4.9M | 14.2M | 23.6M | 15.3M | 19.6M | 20.6M | 15.7M |
| Long-term debt | — | — | 0 | 7.7M | 28.1M | 25.3M | 22.2M | 18.8M | 15.1M |
| Total liabilities | 14.7M | 67.4M | 205.5M | 21.9M | 51.8M | 40.6M | 41.8M | 39.4M | 30.8M |
| Shareholders' equity | -6.7M | -15.5M | -47.2M | 307.8M | 195.9M | 115.7M | 116.7M | 83.3M | 112.2M |
| Total debt | — | — | 0 | 8.7M | 28.5M | 28.1M | 25.3M | 22.2M | 18.8M |
| Net debt | — | — | -154.7M | -25.9M | -37.3M | -6.2M | -30.9M | -14.3M | -2.2M |
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 | 144.3M | 131.4M | 115.2M | 123M | 112.7M | 98.6M | 152.4M | 142.8M | 135.5M | 128.7M | 118.3M | 110.5M |
| Receivables | — | — | — | — | — | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current assets | 147M | 134M | 118.8M | 126.8M | 115.5M | 101.2M | 155.7M | 146.7M | 139M | 132.4M | 123M | 115.4M |
| Property, plant & equipment | 24.5M | 23.7M | 22.9M | 22.1M | 21.2M | 20.4M | 19.5M | 18.7M | 17.8M | 9.7M | 9.1M | 8.5M |
| Goodwill & intangibles | — | — | — | — | — | — | — | — | — | — | — | — |
| Total assets | 172.4M | 158.6M | 142.5M | 150M | 137.9M | 122.6M | 176.2M | 166.4M | 157.7M | 143M | 132.9M | 125M |
| Accounts payable | 694K | 2.3M | 1.2M | 763K | 2M | 4M | 2.6M | 771K | 975K | 579K | 3M | 1.4M |
| Short-term debt | 3M | 3.1M | 3.2M | 3.3M | 3.3M | 3.4M | 3.7M | 3.8M | 3.6M | 3.7M | 3.8M | 3.9M |
| Total current liabilities | 15.1M | 19.6M | 16.9M | 18.4M | 20.8M | 20.6M | 16.8M | 16.8M | 15.5M | 15.7M | 14.5M | 15.8M |
| Long-term debt | 23M | 22.2M | 21.4M | 20.5M | 19.7M | 18.8M | 17.9M | 17M | 16M | 15.1M | 14.1M | 13.1M |
| Total liabilities | 38.1M | 41.8M | 38.2M | 39M | 40.5M | 39.4M | 34.7M | 33.8M | 31.6M | 30.8M | 28.6M | 28.9M |
| Shareholders' equity | 134.3M | 116.7M | 104.3M | 111M | 97.4M | 83.3M | 141.5M | 132.6M | 126.2M | 112.2M | 104.3M | 96.1M |
| Total debt | 26M | 25.3M | 24.5M | 23.8M | 23M | 22.2M | 21.6M | 20.8M | 19.7M | 18.8M | 17.9M | 17M |
| Net debt | -31.9M | -30.9M | -877K | -9M | -426K | -14.3M | -76.8M | -9.2M | -11.2M | -2.2M | -12.2M | -2.2M |
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 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|
| Net income | -4.6M | -8.9M | -35.3M | -67.3M | -125.6M | -91.2M | -82.4M | -69.7M | 22.4M |
| Depreciation & amortization | 24K | 44K | 47K | 52K | 205K | 508K | 437K | 343K | 325K |
| Stock-based compensation | 5K | 64K | 3.6M | 7.8M | 14M | 12.2M | 9.6M | 10.6M | 6.6M |
| Change in working capital | -69K | 258K | 1.4M | -159K | -66K | -5.1M | -2.5M | -2M | -7M |
| Operating cash flow | -4.6M | -8.6M | -30.2M | -59M | -109.4M | -80.8M | -72.1M | -57.7M | 29.6M |
| Capital expenditure | -77K | -76K | -21K | -142K | -2.7M | -183K | 62K | 94K | — |
| Investing cash flow | -77K | -76K | -21K | -281.7M | 130.6M | 53.4M | 16.3M | 17M | -44.9M |
| Dividends paid | — | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — | — |
| Financing cash flow | 10M | 52.3M | 127.8M | 213.8M | 0 | 0 | 71.8M | 24.5M | 0 |
| Net change in cash | 5.3M | 43.7M | 97.5M | -126.9M | 21.2M | -27.4M | 16.1M | -16.2M | -15.3M |
| Free cash flow | -2.4M | -8.5M | -24.7M | -52.3M | -102.9M | -85.3M | -66.8M | -62.3M | 29.6M |
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 | -23M | -19.4M | -18.2M | -19.9M | -15.6M | -16M | — | — | -8.5M | -15.1M | -9M | -9.9M |
| Depreciation & amortization | 115K | 86K | 86K | 86K | 86K | 85K | — | — | 86K | 66K | 27K | 28K |
| Stock-based compensation | 2.8M | 1.5M | 1.7M | 5.3M | 2M | 1.6M | — | — | 1.7M | 1.4M | 1.4M | 1.5M |
| Change in working capital | -2.6M | 816K | -2M | -1.6M | 396K | 1.2M | — | — | -686K | -1.3M | 1.5M | -2.8M |
| Operating cash flow | -22.1M | -16.3M | -17.6M | -15.4M | -12.3M | -12.3M | 53.4M | -9.2M | -7.8M | -6.8M | -10.2M | -8M |
| Capital expenditure | -33K | 0 | — | 38K | 48K | 8K | — | — | — | — | — | — |
| Investing cash flow | -37.9M | 12.2M | -13.7M | 740K | 2.2M | 27.8M | — | — | 8.6M | -2.9M | 19.5M | -3.1M |
| Dividends paid | — | — | — | — | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — | — | — | — | — |
| Financing cash flow | 71.8M | 0 | 4M | 21M | -500K | 0 | — | — | 0 | 0 | — | — |
| Net change in cash | 11.9M | -4M | -27.4M | 6.3M | -10.6M | 15.5M | 53.4M | -9.2M | 739K | -9.7M | 9.3M | -11.1M |
| Free cash flow | -18.4M | -14M | -21.2M | -14.7M | -11.3M | -15.1M | — | — | -7.8M | -6.8M | -10.2M | -8M |