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 26 | -$0.34 | -$0.34 | 0.0% | — | — | — |
| Q2 26 | -$0.39 | -$0.39 | 0.0% | — | — | — |
| Q1 26 | -$0.47 | -$0.4 | +14.9% | — | — | — |
| Q4 25 | -$0.46 | -$0.44 | +4.3% | — | — | — |
| Q3 25 | -$0.61 | -$0.73 | -19.7% | — | — | — |
| Q2 25 | -$0.66 | -$0.71 | -7.6% | — | — | — |
| Q1 25 | -$0.63 | -$0.65 | -3.2% | — | — | — |
| Q3 24 | -$0.61 | -$0.62 | -1.6% | — | — | — |
| Q2 24 | -$0.57 | -$0.56 | +1.8% | — | — | — |
| Q1 24 | -$0.48 | -$0.51 | -6.3% | — | — | — |
| Q4 23 | -$0.39 | -$0.46 | -17.9% | — | $0 | — |
| Q3 23 | -$0.42 | -$0.37 | +11.9% | — | $0 | — |
| Q2 23 | -$0.42 | -$0.37 | +11.9% | — | $0 | — |
| Q1 23 | -$0.47 | -$0.45 | +4.3% | — | $0 | — |
| Q4 22 | -$0.44 | -$0.52 | -18.2% | — | $0 | — |
| Q3 22 | -$0.47 | -$0.39 | +17.0% | — | $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 | — | -$2.1 | — | — | $0 | — |
| FY24 | — | -$2.34 | — | — | $0 | — |
| FY23 | — | -$1.65 | — | — | $0 | — |
| FY22 | — | -$1.81 | — | — | $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 | $0 | $0 | $0 | $0 | $0 | $0 |
| YoY change | — | 0% | 0% | 0% | 0% | 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 |
|---|
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 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cost of revenue | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — | — |
| Research & development | 4.5M | 11.7M | 21.4M | 32.5M | 39.3M | 55.4M | 97.2M | 142.7M |
| Selling, general & administrative | 1.7M | 7M | 12.5M | 13.8M | 14.8M | 19.2M | 27.9M | 29.6M |
| Operating expenses | 6.2M | 18.7M | 33.8M | 46.3M | 54.1M | 74.7M | 125.1M | 172.2M |
| Operating income | -6.2M | -18.7M | -33.8M | -46.3M | -54.1M | -74.7M | -125.1M | -172.2M |
| Operating margin | — | — | — | — | — | — | — | — |
| Non-operating income, net | -6.2M | — | — | — | — | — | — | 358K |
| Pretax income | -12.2M | -16.9M | -33.3M | -46.3M | -53M | -67.7M | -115.9M | -167.9M |
| Income tax | — | — | — | — | — | — | — | — |
| Net income | -12.2M | -16.9M | -33.3M | -46.3M | -53M | -67.7M | -115.9M | -167.9M |
| Net margin | — | — | — | — | — | — | — | — |
| EBITDA | -6.2M | -18.6M | -33.5M | -45.6M | -53M | -73.2M | -113.4M | -164.2M |
| EPS | -0.84 | -4.07 | -1.44 | -1.8 | -1.81 | -1.65 | -2.34 | -2.1 |
| Diluted EPS | -0.84 | -4.07 | -1.44 | -1.8 | -1.81 | -1.65 | -2.34 | -2.1 |
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 |
| Cost of revenue | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — | — | — | — | — | — |
| Research & development | 13.8M | 17.4M | — | — | — | 25.5M | — | — | 39.8M | 36.2M | 37.4M | 44.4M |
| Selling, general & administrative | 4.9M | 5.7M | — | — | — | 8.3M | — | — | 6.8M | 6.4M | 6.9M | 7.6M |
| Operating expenses | 18.7M | 23.1M | — | — | — | 33.8M | — | — | 46.6M | 42.6M | 44.3M | 52M |
| Operating income | -18.7M | -23.1M | — | — | — | -33.8M | — | — | -46.6M | -42.6M | -44.3M | -52M |
| Operating margin | — | — | — | — | — | — | — | — | — | — | — | — |
| Non-operating income, net | — | — | — | — | — | — | — | — | 498K | -79K | 341K | -84K |
| Pretax income | -16.4M | -20.9M | — | — | — | -32.6M | — | — | -44.9M | -41.9M | -43.5M | -51M |
| Income tax | — | — | — | — | — | — | — | — | — | — | — | — |
| Net income | -16.4M | -20.9M | — | — | — | -32.6M | — | — | -44.9M | -41.9M | -43.5M | -51M |
| Net margin | — | — | — | — | — | — | — | — | — | — | — | — |
| EBITDA | -18.3M | -22.8M | — | — | — | -23.3M | — | — | -43.9M | -41M | -42.5M | -50.1M |
| EPS | -0.37 | — | -0.51 | -0.56 | -0.62 | -0.65 | -0.71 | -0.73 | -0.44 | — | -0.39 | -0.34 |
| Diluted EPS | -0.37 | — | -0.51 | -0.56 | -0.62 | -0.65 | -0.71 | -0.73 | -0.44 | — | -0.39 | -0.34 |
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 | — | — | — | 288.9M | — | — | — | — | — | 339.1M |
| Enterprise value | — | — | — | 180.3M | — | — | — | — | — | 151.6M |
| Shares outstanding | — | 14.5M | 24M | 23.2M | 25.7M | 29.3M | 39.2M | 49.5M | 79.9M | 79.9M |
| Metric | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|---|
| P/E | — | — | — | — | — | — | — | — | — | -0.95 |
| P/B | — | — | — | 2.64 | — | — | — | — | — | 1.61 |
| EV/EBITDA | — | — | — | -5.38 | — | — | — | — | — | -0.82 |
| Earnings yield | — | — | — | — | — | — | — | — | — | -105.5% |
| FCF yield | — | — | — | -9.48% | — | — | — | — | — | -29% |
| PEG | — | — | — | — | — | — | — | — | — | 0.02 |
| Metric | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating margin | — | — | — | — | — | — | — | — | — | 0% |
| Net margin | — | — | — | — | — | — | — | — | — | 0% |
| ROE | — | 114.1% | -12.2% | -30.4% | -39.2% | -50.7% | -28.7% | -76.1% | -149.8% | -93.2% |
| ROA | — | -35.7% | -12% | -29.1% | -36.6% | -45.3% | -26.7% | -62.6% | -101.7% | -48.2% |
| Return on tangible assets | — | -35.7% | -12% | -29.1% | -36.6% | -45.3% | -26.7% | -62.6% | -101.7% | -70.6% |
| Metric | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|---|
| Current ratio | — | 36 | 44.7 | 21.9 | 14.9 | 11.5 | 15.3 | 6.15 | 2.77 | 5.79 |
| Quick ratio | — | 36 | 44.7 | 21.9 | 14.9 | 11.5 | 15.3 | 6.15 | 2.77 | 5.79 |
| Debt / equity | — | — | — | — | 0 | 0.05 | 0.02 | 0.1 | 0.24 | 0.12 |
| Debt / assets | — | — | — | — | 0 | 0.04 | 0.02 | 0.08 | 0.16 | 0.1 |
| Net debt / EBITDA | — | — | — | — | 2.68 | 1.91 | 3.23 | 1.31 | 0.65 | 1.12 |
| Interest coverage | — | — | — | — | — | — | — | -153.9 | -82.8 | -78.1 |
| Metric | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue per share | — | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (basic) | — | -0.84 | -4.07 | -1.44 | -1.8 | -1.81 | -1.65 | -2.34 | -2.1 | -2.1 |
| EPS (diluted) | — | -0.84 | -4.07 | -1.44 | -1.8 | -1.81 | -1.65 | -2.34 | -2.1 | -1.38 |
| Book value per share | — | -0.74 | 5.76 | 4.73 | 4.59 | 3.57 | 6.03 | 3.08 | 1.4 | 1.26 |
| FCF per share | — | -0.32 | -0.7 | -1.18 | -1.37 | -1.67 | -1.38 | -1.83 | -1.66 | -1.02 |
| Cash per share | — | 2.28 | 5.67 | 4.69 | 4.75 | 3.64 | 6.16 | 3.31 | 1.67 | 1.33 |
| Capex per share | — | 0 | 0.03 | 0.03 | 0.05 | 0.08 | 0.02 | 0.04 | — | — |
| Metric | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|---|
| Capex / operating cash flow | — | 0% | -4.78% | -2.23% | -3% | -5.45% | -1.26% | -2.42% | — | — |
| Payout ratio | — | — | — | — | — | — | — | — | — | 0% |
| -$1.8 |
| — |
| — |
| $0 |
| — |
| FY20 | — | -$1.44 | — | — | $0 | — |
| FY19 | — | -$4.07 | — | — | $0 | — |
| FY18 | — | -$0.84 | — | — | $0 | — |
| 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 |
| YoY change | 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 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|
| Cash & short-term investments | 1K | 33M | 136.2M | 108.7M | 122.2M | 106.5M | 241.2M | 164M | 133.6M |
| Receivables | — | — | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — | — | — |
| Total current assets | 1K | 34M | 140.6M | 113.5M | 124.5M | 108.8M | 244.5M | 166.7M | 138.9M |
| Property, plant & equipment | — | 0 | 815K | 890K | 1.4M | 7.6M | 7.5M | 16.1M | 21.1M |
| Goodwill & intangibles | — | — | — | — | — | — | — | — | — |
| Total assets | 1K | 34.2M | 141.5M | 114.7M | 126.3M | 117M | 253.7M | 185M | 165.1M |
| Accounts payable | 189K | 603K | 920K | 1.2M | 2.3M | 2.5M | 4.5M | 4.9M | 6.6M |
| Short-term debt | — | — | — | — | — | 2.2M | 3.6M | 10M | 24.2M |
| Total current liabilities | 250K | 943K | 3.1M | 5.2M | 8.4M | 9.5M | 16M | 27.1M | 50.2M |
| Long-term debt | — | — | — | — | 0 | 3M | 1.5M | 5.6M | 2.9M |
| Total liabilities | 250K | 44.9M | 3.1M | 5.2M | 8.4M | 12.4M | 17.5M | 32.7M | 53M |
| Shareholders' equity | -249K | -10.7M | 138.3M | 109.5M | 118M | 104.5M | 236.2M | 152.3M | 112.1M |
| Total debt | — | — | — | — | 0 | 5.1M | 5M | 15.6M | 27.1M |
| Net debt | — | — | — | — | -122.2M | -76.5M | -188.2M | -148.4M | -55.9M |
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 | 164.4M | 241.2M | 223.8M | 203.2M | 183M | 164M | 131.8M | 194.7M | 159.9M | 133.6M | 116.6M | 225.1M |
| Receivables | — | — | — | — | — | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current assets | 166.2M | 244.5M | 227.5M | 206.3M | 185.5M | 166.7M | 134.6M | 198.4M | 164.6M | 138.9M | 122.3M | 231M |
| Property, plant & equipment | 6.1M | 7.5M | 10.6M | 8.9M | 16.4M | 16.1M | 28.2M | 23.6M | 21.6M | 21.1M | 20.6M | 19.5M |
| Goodwill & intangibles | — | — | — | — | — | — | — | — | — | — | — | — |
| Total assets | 173.3M | 253.7M | 240.5M | 217.4M | 204.4M | 185M | 165.1M | 224.5M | 189.8M | 165.1M | 148.1M | 256.7M |
| Accounts payable | 3.6M | 4.5M | 5.8M | 4.2M | 2.2M | 4.9M | 6.5M | 7.2M | 8.3M | 6.6M | 6.4M | 5.8M |
| Short-term debt | 2.5M | 3.6M | 7.4M | 7.4M | 7.9M | 10M | 19.2M | 20.4M | 21.2M | 24.2M | 23.1M | 19.5M |
| Total current liabilities | 10.6M | 16M | 18M | 17.9M | 22.9M | 27.1M | 34M | 41.5M | 45.7M | 50.2M | 41.5M | 39.9M |
| Long-term debt | 1.7M | 1.5M | 765K | 0 | 7.3M | 5.6M | 9.6M | 4.5M | 4.6M | 2.9M | 3.3M | 6.2M |
| Total liabilities | 12.4M | 17.5M | 18.7M | 17.9M | 30.2M | 32.7M | 43.6M | 46M | 50.3M | 53M | 44.8M | 46.1M |
| Shareholders' equity | 160.9M | 236.2M | 221.7M | 199.5M | 174.2M | 152.3M | 121.6M | 178.5M | 139.5M | 112.1M | 103.3M | 210.6M |
| Total debt | 4.3M | 5M | 8.2M | 7.4M | 15.2M | 15.6M | 28.8M | 24.9M | 25.8M | 27.1M | 26.4M | 25.7M |
| Net debt | -111.2M | -188.2M | -167.1M | -171.2M | -155.4M | -148.4M | -103M | -120.7M | -34.4M | -55.9M | -90.2M | -199.4M |
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 | -12.2M | -16.9M | -33.3M | -46.3M | -53M | -67.7M | -115.9M | -167.9M |
| Depreciation & amortization | 0 | 104K | 354K | 733K | 1.2M | 1.4M | 1.7M | 1.6M |
| Stock-based compensation | 606K | 2.3M | 4.4M | 5.8M | 6.9M | 11.3M | 19.5M | 20.9M |
| Change in working capital | 234K | 44K | 159K | 917K | -3.1M | -1.9M | -2.9M | -5.5M |
| Operating cash flow | -4M | -14.5M | -28.4M | -38.8M | -45M | -54.4M | -91.2M | -131.1M |
| Capital expenditure | 0 | -693K | -635K | -1.2M | -2.5M | -687K | -2.2M | — |
| Investing cash flow | 0 | -693K | -8M | 6M | -27.2M | -22.5M | 47.3M | -49M |
| Dividends paid | — | — | — | — | — | — | — | — |
| Share repurchases | -169K | -1.3M | -192K | — | — | — | — | — |
| Financing cash flow | 37.5M | 118.6M | -192K | 48.3M | 32.9M | 185.2M | 10M | 100M |
| Net change in cash | 33.5M | 103.4M | -36.6M | 15.4M | -39.4M | 108.4M | -33.9M | -80.1M |
| Free cash flow | -4.7M | -16.7M | -27.4M | -35.3M | -48.8M | -54.2M | -90.4M | -132.3M |
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 | 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 | -16.4M | -20.9M | -25M | -27.6M | -30.6M | -32.6M | -35.9M | -45.1M | -44.9M | -41.9M | -43.5M | -51M |
| Depreciation & amortization | 355K | 336K | 393K | 426K | 424K | 468K | 485K | 468K | 345K | 348K | 337K | 371K |
| Stock-based compensation | 3M | 3.1M | 3.8M | 5M | 5.3M | 5.4M | 5.2M | 5.7M | 5.8M | 4.3M | 5.3M | 5.5M |
| Change in working capital | 432K | -953K | -256K | -2.2M | -4.1M | 3.7M | 458K | -595K | -1.1M | -4.3M | -1.4M | -2.9M |
| Operating cash flow | -12.1M | -17.7M | -19.5M | -22.4M | -27M | -22.3M | -27.3M | -30.4M | -34.5M | -35.3M | -42.6M | -41.5M |
| Capital expenditure | -65K | -185K | -812K | -770K | -253K | -376K | -785K | — | — | — | — | — |
| Investing cash flow | -65K | 1.1M | -812K | 23.7M | 12.2M | 12.1M | -785K | 0 | -50M | 50M | 51M | 0 |
| Dividends paid | — | — | — | — | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — | — | — | — | — |
| Financing cash flow | -141K | 91.7M | 5.7M | 0 | 0 | 5.1M | -552K | 93.2M | -820K | 8.2M | 18.3M | 156.7M |
| Net change in cash | -12.3M | 75.2M | -14.6M | 1.3M | -14.8M | -5M | -28.7M | 62.8M | -85.3M | 22.9M | 26.7M | 115.2M |
| Free cash flow | -12.7M | -16.6M | -24.8M | -21.6M | -20.6M | -23.5M | -31.6M | -30.6M | -34.6M | -35.5M | -42.6M | -41.5M |