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 | -$21.1 | -$4.57 | +78.3% | — | $5K | — |
| Q4 25 | -$5.52 | -$2.98 | +46.0% | — | $2.5M | — |
| Q3 25 | -$5.39 | -$3.72 | +31.0% | — | $2.2M | — |
| Q2 25 | -$6.27 | -$4.46 | +28.9% | — | $1.8M | — |
| Q1 25 | -$7.2 | -$5.8 | +19.4% | — | $1.2M | — |
| Q4 24 | -$7 | -$8.4 | -20.0% | — | $0 | — |
| Q3 24 | -$7.9 | -$8 | -1.3% | — | $1.1M | — |
| Q2 24 | -$9.6 | -$11.2 | -16.7% | — | $1.3M | — |
| Q1 24 | -$9.87 | -$5.6 | +43.3% | — | $5.3M | — |
| Q4 23 | -$10.1 | -$9.4 | +6.9% | — | $2.1M | — |
| Q3 23 | -$0.5 | -$0.43 | +14.0% | — | $2.5M | — |
| Q2 23 | -$0.49 | -$0.48 | +2.0% | — | $1.4M | — |
| Q1 23 | -$0.51 | -$0.45 | +11.8% | — | $1.8M | — |
| Q4 22 | -$0.6 | -$0.53 | +11.7% | — | $1.4M | — |
| Q3 22 | -$0.56 | -$0.58 | -3.6% | — | $2.1M | — |
| Q2 22 | -$0.68 | -$0.61 | +10.3% | — | $1.4M | — |
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 | — | -$17.9 | — | — | $7.7M | — |
| FY24 | — | -$33 | — | — | $7.7M | — |
| FY23 | — | -$1.83 | — | — | $7.9M | — |
| FY22 | — | -$2.36 | — | — | $5.7M | — |
| 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 | $215K | $231K | $1.3M | $5.7M | $7.9M | $7.7M | $7.7M |
| YoY change | — | +InfinityT% | +7.44% | +445.5% | +354.7% | +37.5% | -2.36% | +0.07% |
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 | 215K | 231K | 1.3M | 5.7M | 7.9M | 7.7M | 7.7M |
| Cost of revenue | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — | — |
| Research & development | 9.4M | 26M | 40.4M | 75.7M | 73.1M | 61.5M | 57.5M | 28.5M |
| Selling, general & administrative | 2.2M | 5.2M | 9.1M | 18.4M | 22.9M | 22.5M | 18.5M | 13.8M |
| Operating expenses | 11.6M | 31.2M | 49.4M | 94M | 96M | 84.1M | 75.9M | 42.3M |
| Operating income | -11.6M | -31M | -49.2M | -92.8M | -90.3M | -76.2M | -68.2M | -34.6M |
| Operating margin | — | -14.4K% | -21.3K% | -7.4K% | -1.6K% | -967.4% | -887.3% | -450.1% |
| Non-operating income, net | -153K | -42K | -11.7M | -6.1M | — | — | -137K | -1.2M |
| Pretax income | -11.6M | -30.5M | -60.7M | -98.6M | -88.1M | -69.2M | -63.1M | -33.4M |
| Income tax | — | — | — | — | — | — | — | — |
| Net income | -11.6M | -30.5M | -60.7M | -98.6M | -88.1M | -69.2M | -63.1M | -33.4M |
| Net margin | — | -14.2K% | -26.3K% | -7.8K% | -1.5K% | -878.6% | -820.8% | -433.7% |
| EBITDA | -11.2M | -30.6M | -36.8M | -85.5M | -88.7M | -74.3M | -61.6M | -31.9M |
| EPS | -1.23 | -2.18 | -1.91 | -2.97 | -2.36 | -1.83 | -33 | -17.9 |
| Diluted EPS | -1.23 | -2.18 | -1.91 | -2.97 | -2.36 | -1.83 | -33 | -17.9 |
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 | 2.5M | 2.1M | 5.3M | 1.3M | 1.1M | 0 | 1.2M | 1.8M | 2.2M | 2.5M | 26K | 5K |
| Cost of revenue | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — | — | — | — | — | — |
| Research & development | 15M | 16.3M | 16.5M | 15.4M | 13.8M | 11.7M | 9.5M | 7.5M | 6.5M | 5M | 4.8M | 5.1M |
| Selling, general & administrative | 5.8M | 5.5M | 5.8M | 4.9M | 3.8M | 3.9M | 3.8M | 3.5M | 3.3M | 3.1M | 2.8M | 2.4M |
| Operating expenses | 20.7M | 21.9M | 22.4M | 20.3M | 17.6M | 15.7M | 13.3M | 11M | 9.9M | 8.1M | 7.6M | 7.6M |
| Operating income | -18.2M | -19.8M | -17.1M | -19M | -16.4M | -15.7M | -12.1M | -9.2M | -7.7M | -5.6M | -7.6M | -7.6M |
| Operating margin | -719.3% | -946.2% | -324.1% | -1.5K% | -1.4K% | — | -991.4% | -510.5% | -355.1% | -224.2% | -29.2K% | -151.3K% |
| Non-operating income, net | — | — | 4.7M | -3.6M | — | -1.2M | 22K | 50K | 82K | -1.4M | 81K | -332K |
| Pretax income | -16.3M | -17.9M | -10.8M | -21.2M | -15.2M | -15.9M | -11M | -8.6M | -7.1M | -6.6M | -7.2M | -7.7M |
| Income tax | — | — | — | — | — | — | — | — | — | — | — | — |
| Net income | -16.3M | -17.9M | -10.8M | -21.2M | -15.2M | -15.9M | -11M | -8.6M | -7.1M | -6.6M | -7.2M | -7.7M |
| Net margin | -643.1% | -857% | -205% | -1.7K% | -1.3K% | — | -903.4% | -474.6% | -329.4% | -265.2% | -27.9K% | -154.4K% |
| EBITDA | -17.7M | -19.3M | -16.6M | -15M | -16M | -14M | -11.7M | -8.9M | -7.4M | -3.9M | -7.4M | -6.6M |
| EPS | -0.43 | — | -0.28 | -0.56 | -8 | -8.4 | -5.8 | -4.46 | -3.72 | -3.84 | -4.31 | -4.57 |
| Diluted EPS | -0.43 | — | -0.28 | -0.56 | -8 | -8.4 | -5.8 | -4.46 | -3.72 | -3.84 | -4.31 | -4.57 |
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 | — | — | — | 3.3B | — | 847M | — | 10.2M | 6.7M |
| Enterprise value | — | — | — | 3.1B | — | 765M | — | 5.7M | 10.9M |
| Shares outstanding | 9.4M | 14M | 31.8M | 33.2M | 37.4M | 37.8M | 1.9M | 1.9M | 1.9M |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| P/E | — | — | — | — | — | — | — | — | -0.19 |
| P/S | — | — | — | 2.6K | — | 107.5 | — | 1.33 | 1.47 |
| P/B | — | — | — | 13 | — | 7.51 | — | 0.39 | 0.55 |
| EV/EBITDA | — | — | — | -36.2 | — | -10.3 | — | -0.18 | -0.4 |
| EV/Sales | — | — | — | 2.5K | — | 97.1 | — | 0.74 | 2.32 |
| Earnings yield | — | — | — | — | — | — | — | — | -515.9% |
| FCF yield | — | — | — | -1.83% | — | -8.23% | — | -390.4% | -281.9% |
| PEG | — | — | — | — | — | — | — | — | -0.08 |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Operating margin | — | -14.4K% | -21.3K% | -7.4K% | -1.6K% | -967.4% | -887.3% | -450.1% | -151.3K% |
| Net margin | — | -14.2K% | -26.3K% | -7.8K% | -1.5K% | -878.6% | -820.8% | -433.7% | 0% |
| ROE | 72.7% | 66.5% | 57.9% | -39.4% | -51.4% | -61.4% | -110.4% | -125.9% | -111.6% |
| ROA | -72.5% | -62.9% | -130.5% | -32% | -38.7% | -43.3% | -63.4% | -58.8% | -30.7% |
| Return on tangible assets | -72.5% | -62.9% | -130.5% | -32% | -38.7% | -43.3% | -63.4% | -58.8% | -71.2% |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Current ratio | 5.12 | 4.15 | 2.25 | 8.87 | 7.47 | 5.17 | 3.2 | 3.59 | 2.61 |
| Quick ratio | 5.12 | 4.15 | 2.25 | 8.87 | 7.47 | 5.17 | 3.2 | 3.59 | 2.61 |
| Debt / equity | -0 | -0.22 | -0.1 | 0.1 | 0.13 | 0.18 | 0.44 | 0.87 | 1.71 |
| Debt / assets | 0 | 0.21 | 0.23 | 0.08 | 0.1 | 0.13 | 0.25 | 0.4 | 0.54 |
| Net debt / EBITDA | 1.22 | 0.81 | 0.32 | 1.89 | 1.65 | 1.1 | 0.36 | 0.14 | -0.16 |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Revenue per share | 0 | 0.02 | 0.01 | 0.04 | 0.15 | 0.21 | 4.03 | 4.12 | 2.68 |
| EPS (basic) | -1.23 | -2.18 | -1.91 | -2.97 | -2.36 | -1.83 | -33 | -17.9 | -17.9 |
| EPS (diluted) | -1.23 | -2.18 | -1.91 | -2.97 | -2.36 | -1.83 | -33 | -17.9 | -16.5 |
| Book value per share | -1.69 | -3.28 | -3.3 | 7.53 | 4.59 | 2.98 | 30 | 14.2 | 6.56 |
| FCF per share | -1.08 | -1.92 | -1.59 | -1.79 | -2.1 | -1.84 | -32.1 | -21.3 | -18.7 |
| Cash per share | 1.45 | 2.49 | 0.72 | 5.61 | 4.52 | 2.7 | 24.8 | 14.7 | 9.13 |
| Capex per share | 0.03 | 0.04 | 0.1 | 0.07 | 0.05 | 0.01 | 0.06 | — | — |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Capex / revenue | — | 236.3% | 1.4K% | 185.6% | 34.1% | 2.62% | 1.39% | — | — |
| Capex / operating cash flow | -2.71% | -1.83% | -6.77% | -3.55% | -2.49% | -0.34% | -0.19% | — | — |
| Payout ratio | — | — | — | — | — | — | — | — | 0% |
| — |
| -$2.97 |
| — |
| — |
| $1.3M |
| — |
| FY20 | — | -$1.91 | — | — | $231K | — |
| FY19 | — | -$2.18 | — | — | $215K | — |
| FY18 | — | -$1.23 | — | — | $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 | $2.5M | $2.1M | $5.3M | $1.3M | $1.1M | $0 | $1.2M | $1.8M | $2.2M | $2.5M | $26K | $5K |
| YoY change | +19.7% | +48.1% | +188.8% | -11% | -54.9% | -100% | -76.8% | +41.5% | +90.1% | +InfinityT% | -97.9% | -99.7% |
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 | 13.6M | 34.8M | 22.8M | 186.2M | 168.9M | 102.2M | 47.3M | 27.5M |
| Receivables | — | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — | — |
| Total current assets | 14.1M | 35.9M | 25.4M | 189.2M | 172.7M | 105.7M | 50.8M | 30.3M |
| Property, plant & equipment | 1.4M | 11.5M | 16.4M | 30.6M | 28.5M | 24.1M | 24.9M | 20.5M |
| Goodwill & intangibles | — | — | — | — | — | — | — | — |
| Total assets | 16M | 48.4M | 46.5M | 307.7M | 227.8M | 159.8M | 99.6M | 56.7M |
| Accounts payable | 892K | 2.1M | 1.6M | 3.6M | 3.6M | 3M | 1.5M | 1.4M |
| Short-term debt | 40K | 3.1M | 1.5M | 2.5M | 2.4M | 2.8M | 2.3M | 2.8M |
| Total current liabilities | 2.8M | 8.7M | 11.3M | 21.3M | 23.1M | 20.5M | 15.9M | 8.4M |
| Long-term debt | 0 | 7.1M | 9.4M | 21.9M | 20.2M | 17.4M | 23M | 20.1M |
| Total liabilities | 31.9M | 94.3M | 151.5M | 57.6M | 56.3M | 47M | 42.4M | 30.2M |
| Shareholders' equity | -15.9M | -45.8M | -104.9M | 250.1M | 171.5M | 112.7M | 57.2M | 26.5M |
| Total debt | 40K | 10.2M | 10.9M | 24.4M | 22.6M | 20.2M | 25.2M | 23M |
| Net debt | -13.6M | -24.6M | 5.3M | -3M | 13.4M | 9.4M | 18M | 11.3M |
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 | 119.7M | 102.2M | 91.3M | 73.7M | 53.8M | 47.3M | 38.8M | 34.8M | 31.9M | 27.5M | 22.9M | 17.6M |
| Receivables | — | — | — | — | — | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current assets | 125.5M | 105.7M | 95.1M | 76.6M | 57.1M | 50.8M | 42.5M | 38.3M | 35.6M | 30.3M | 25.8M | 20.6M |
| Property, plant & equipment | 25.1M | 24.1M | 22.8M | 21.6M | 20.3M | 24.9M | 23.2M | 22.2M | 21.4M | 20.5M | 19.6M | 17.6M |
| Goodwill & intangibles | — | — | — | — | — | — | — | — | — | — | — | — |
| Total assets | 175.4M | 159.8M | 142.9M | 124.2M | 109.3M | 99.6M | 85.9M | 75.5M | 65.1M | 56.7M | 48M | 40.3M |
| Accounts payable | 3.7M | 3M | 2.2M | 2.6M | 1.5M | 1.5M | 1.5M | 1.9M | 1.5M | 1.4M | 1.7M | 868K |
| Short-term debt | 2.7M | 2.8M | 2.9M | 3M | 2.8M | 2.3M | 2.4M | 2.6M | 2.7M | 2.8M | 3M | 3.1M |
| Total current liabilities | 18.8M | 20.5M | 16.7M | 17.9M | 18.1M | 15.9M | 13.6M | 12.3M | 10M | 8.4M | 7.3M | 7.9M |
| Long-term debt | 18.2M | 17.4M | 16.7M | 15.9M | 15.4M | 23M | 22.3M | 21.6M | 20.9M | 20.1M | 19.4M | 18.5M |
| Total liabilities | 47.1M | 47M | 38.7M | 38.3M | 37.3M | 42.4M | 39.1M | 36.7M | 33M | 30.2M | 28.2M | 27.7M |
| Shareholders' equity | 128.3M | 112.7M | 104.2M | 85.9M | 72M | 57.2M | 46.8M | 38.8M | 32.1M | 26.5M | 19.8M | 12.6M |
| Total debt | 20.9M | 20.2M | 19.6M | 18.9M | 18.2M | 25.2M | 24.7M | 24.2M | 23.6M | 23M | 22.3M | 21.6M |
| Net debt | 11.7M | 9.4M | 15.3M | 12.7M | 8.8M | 18M | 16.3M | 14.6M | 5.8M | 11.3M | 10.7M | 8.8M |
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 | -11.6M | -30.5M | -60.7M | -98.6M | -88.1M | -69.2M | -63.1M | -33.4M |
| Depreciation & amortization | 302K | 335K | 611K | 1.2M | 1.7M | 1.9M | 1.8M | 1.3M |
| Stock-based compensation | 123K | 508K | 1.4M | 8.5M | 9.6M | 9.2M | 7.4M | 2.8M |
| Change in working capital | 321K | 780K | -3.1M | 14.4M | -4.9M | -6M | -6.1M | -6.8M |
| Operating cash flow | -10.7M | -27.8M | -48.2M | -65.9M | -78.6M | -61.2M | -57.8M | -39.9M |
| Capital expenditure | -290K | -508K | -3.3M | -2.3M | -2M | -206K | 107K | — |
| Investing cash flow | -290K | -508K | -20.6M | -232.2M | 57.9M | 71M | 57.6M | 43.4M |
| Dividends paid | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — |
| Financing cash flow | 19.1M | 48.6M | 39.6M | 311.1M | 503K | 253K | 108K | 19K |
| Net change in cash | 8.1M | 20.3M | -29.2M | 13M | -20.2M | 10.1M | -77K | 3.6M |
| Free cash flow | -10.2M | -26.9M | -50.6M | -59.4M | -78.5M | -69.7M | -61.3M | -39.9M |
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 | -16.3M | -17.9M | -10.8M | -21.2M | -15.2M | -15.9M | -11M | -8.6M | -7.1M | -6.6M | -7.2M | -7.7M |
| Depreciation & amortization | 462K | 467K | 458K | 457K | 440K | 426K | 399K | 347K | 290K | 255K | 203K | 171K |
| Stock-based compensation | 2.3M | 2.1M | 2.3M | 2.8M | 1.1M | 1.2M | 709K | 625K | 407K | 1M | 545K | 552K |
| Change in working capital | -2.2M | -1.4M | -4.8M | -1.4M | -1.4M | 1.4M | -871K | -1.6M | -1.8M | -2.5M | -635K | -701K |
| Operating cash flow | -15M | -16M | -12M | -18.5M | -14.3M | -13M | -10.2M | -9.6M | -9.7M | -7.2M | -8M | -6.5M |
| Capital expenditure | -165K | -6K | 0 | 0 | 107K | 0 | 963K | — | — | — | — | — |
| Investing cash flow | 12.7M | 15.8M | 10.2M | 18M | 17.1M | 12.2M | 14.6M | 10.8M | 18M | 1.1M | 7.9M | 7.1M |
| Dividends paid | — | — | — | — | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — | — | — | — | — |
| Financing cash flow | 0 | 106K | — | — | 0 | 29K | — | 14K | 0 | 5K | 6K | 19K |
| Net change in cash | -2.3M | -88K | -1.8M | -491K | 2.9M | -707K | 4.4M | 1.2M | 8.2M | -6.1M | -125K | 578K |
| Free cash flow | -16.9M | -14.3M | -16.8M | -16.1M | -14M | -14.4M | -13.4M | -9.6M | -9.8M | -7.2M | -8M | -6.6M |