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 | -$0.23 | -$0.36 | -56.5% | — | $0 | — |
| Q1 26 | -$0.33 | -$0.14 | +57.6% | — | $0 | — |
| Q4 25 | -$0.23 | -$0.29 | -26.1% | — | $0 | — |
| Q3 25 | -$0.16 | -$0.23 | -43.8% | — | $0 | — |
| Q2 25 | -$0.17 | -$0.2 | -17.6% | — | $0 | — |
| Q1 25 | -$0.24 | -$0.14 | +41.7% | — | $0 | — |
| Q4 24 | -$0.23 | -$0.23 | 0.0% | — | $0 | — |
| Q4 23 | -$0.16 | -$0.38 | -137.5% | — | $0 | — |
| Q3 23 | -$0.19 | -$0.29 | -52.6% | — | $0 | — |
| Q2 23 | -$0.37 | -$0.33 | +10.8% | — | $0 | — |
| Q1 23 | -$0.35 | -$0.3 | +14.3% | — | $0 | — |
| Q4 22 | -$0.39 | -$0.26 | +33.3% | — | $31K | — |
| Q3 22 | -$0.36 | -$0.31 | +13.9% | — | $31K | — |
| Q2 22 | -$0.43 | -$0.32 | +25.6% | — | $31K | — |
| Q1 22 | -$0.31 | -$0.32 | -3.2% | — | $31K | — |
| Q4 21 | -$0.24 | -$0.21 | +12.5% | — | $31K | — |
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 | — | -$0.72 | — | — | $0 | — |
| FY24 | — | -$1.74 | — | — | $0 | — |
| FY23 | — | -$1.31 | — | — | $0 | — |
| FY22 | — | -$0.65 | — | — | $125K | — |
| FY21 | — | -$1.91 |
Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.
| Period | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|
| Revenue | $125K | $125K | $125K | $125K | $0 | $0 | $0 |
| YoY change | — | 0% | 0% | 0% | -100% | 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 | Q4 23 | Q1 24 |
|---|
Revenue, gross profit, operating income, and net income per period.
Click a row to chart it; unreported figures show a dash.
| Period | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|
| Revenue | 125K | 125K | 125K | 125K | 0 | 0 | 0 |
| Cost of revenue | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — |
| Research & development | 6.6M | 8.8M | 15.2M | 20.8M | 24.5M | 19.3M | 30.5M |
| Selling, general & administrative | 2.6M | 5.2M | 10.7M | 14.1M | 13.9M | 14.1M | 17.8M |
| Operating expenses | 8.6M | 13.3M | 24.8M | 34.8M | 38.4M | 33.4M | 48.2M |
| Operating income | -8.5M | -13.2M | -24.6M | -34.7M | -38.4M | -33.4M | -48.2M |
| Operating margin | -6.8K% | -10.5K% | -19.7K% | -27.7K% | — | — | — |
| Non-operating income, net | -844K | -4.6M | -11.4M | 16.4M | 966K | -20.8M | 8.2M |
| Pretax income | -8.2M | -17.7M | -36.1M | -18.8M | -37.9M | -55.2M | -38.2M |
| Income tax | — | — | — | — | — | — | — |
| Net income | -8.2M | -17.7M | -36.1M | -18.8M | -37.9M | -55.2M | -38.2M |
| Net margin | -6.6K% | -14.1K% | -28.9K% | -15K% | — | — | — |
| EBITDA | -7.6M | -8.5M | -13M | -32.7M | -35.4M | -31.3M | -43.4M |
| EPS | -0.44 | -0.94 | -1.91 | -0.65 | -1.31 | -1.74 | -0.72 |
| Diluted EPS | -0.44 | -0.94 | -1.91 | -0.65 | -1.31 | -1.74 | -0.72 |
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 | 5.8M | 7.3M | 4.1M | 5M | 5.4M | 4.8M | 4M | 7M | 8.5M | 11M | 9.8M | 19.8M |
| Selling, general & administrative | 3M | 3.1M | 3.8M | 3.6M | 3.3M | 3.3M | 4.1M | 4.2M | 4.7M | 4.7M | 6.4M | 6.9M |
| Operating expenses | 8.8M | 10.3M | 7.9M | 8.6M | 8.8M | 8.1M | 8.1M | 11.2M | 13.2M | 15.8M | 16.3M | 26.7M |
| Operating income | -8.8M | -10.4M | -7.9M | -8.6M | -8.8M | -8.1M | -8.1M | -11.2M | -13.2M | -15.7M | -16.3M | -26.7M |
| Operating margin | — | — | — | — | — | — | — | — | — | — | — | — |
| Non-operating income, net | 581K | -483K | 7K | -13.3M | -1.6M | -5.8M | 14.9M | 5.7M | 1.1M | -13.5M | 7.6M | -12.3M |
| Pretax income | -8.4M | -11.1M | -8.2M | -22.2M | -10.6M | -14.1M | 7.4M | -4.8M | -11.3M | -29.5M | -8.9M | -38.9M |
| Income tax | — | — | — | — | — | — | — | — | — | — | — | — |
| Net income | -8.4M | -11.1M | -8.2M | -22.2M | -10.6M | -14.1M | 7.4M | -4.8M | -11.3M | -29.5M | -8.9M | -38.9M |
| Net margin | — | — | — | — | — | — | — | — | — | — | — | — |
| EBITDA | -8.1M | -9.7M | -7.3M | -8.1M | -8.3M | -7.6M | -7M | -10M | -12.1M | -14.4M | -14.8M | -24.9M |
| EPS | -0.29 | — | -0.28 | -0.74 | -0.33 | -0.4 | 0.15 | -0.09 | -0.21 | -0.54 | -0.14 | -0.52 |
| Diluted EPS | -0.29 | — | -0.28 | -0.74 | -0.33 | -0.4 | 0.13 | -0.09 | -0.21 | -0.54 | -0.14 | -0.52 |
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 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| Market cap | — | — | 147.6M | — | 42.5M | 274.9M | — | 856.2M |
| Enterprise value | — | — | 65.5M | — | 29.9M | 185.8M | — | 691.2M |
| Shares outstanding | 18.7M | 18.7M | 18.9M | 28.8M | 28.9M | 31.7M | 53M | 53M |
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| P/E | — | — | — | — | — | — | — | -15.6 |
| P/S | — | — | 1.2K | — | — | — | — | — |
| P/B | — | — | 2.3 | — | 3.34 | 4.15 | — | 6.75 |
| EV/EBITDA | — | — | -5.04 | — | -0.85 | -5.94 | — | -9.69 |
| EV/Sales | — | — | 524 | — | — | — | — | — |
| Earnings yield | — | — | — | — | — | — | — | -6.43% |
| FCF yield | — | — | -16.3% | — | -81.6% | -9.83% | — | -4.18% |
| PEG | — | — | — | — | — | — | — | -0.03 |
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| Operating margin | -6.8K% | -10.5K% | -19.7K% | -27.7K% | — | — | — | 0% |
| Net margin | -6.6K% | -14.1K% | -28.9K% | -15K% | — | — | — | 0% |
| ROE | 102.5% | 75% | -56.3% | -39.4% | -297.7% | -83.2% | -73.5% | -81.8% |
| ROA | -18% | -46.2% | -40.5% | -24.2% | -92.1% | -51.6% | -30.5% | -28.6% |
| Return on tangible assets | -18% | -46.2% | -40.5% | -24.2% | -92.1% | -51.6% | -30.5% | -42.5% |
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| Current ratio | 32.1 | 7.46 | 15.8 | 12.8 | 2.59 | 2.77 | 13.5 | 16.1 |
| Quick ratio | 32.1 | 7.46 | 15.8 | 12.8 | 2.59 | 2.77 | 13.5 | 16.1 |
| Debt / equity | -0.05 | -0.04 | 0.01 | 0.48 | 1.79 | 0.2 | 0.94 | 0.39 |
| Debt / assets | 0.01 | 0.02 | 0.01 | 0.29 | 0.55 | 0.13 | 0.39 | 0.24 |
| Net debt / EBITDA | 5.89 | 4.02 | 6.32 | 1.45 | 0.36 | 2.85 | 1.63 | 2.3 |
| Interest coverage | — | — | -465.1 | -10 | -13.6 | -25.4 | -17 | -17.8 |
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| Revenue per share | 0.01 | 0.01 | 0.01 | 0 | 0 | 0 | 0 | 0 |
| EPS (basic) | -0.44 | -0.94 | -1.91 | -0.65 | -1.31 | -1.74 | -0.72 | -0.72 |
| EPS (diluted) | -0.44 | -0.94 | -1.91 | -0.65 | -1.31 | -1.74 | -0.72 | -1.47 |
| Book value per share | -0.43 | -1.26 | 3.4 | 1.66 | 0.44 | 2.09 | 0.98 | 1.66 |
| FCF per share | -0.29 | -0.56 | -1.27 | -1.14 | -1.2 | -0.85 | -0.73 | -0.77 |
| Cash per share | 2.41 | 1.87 | 4.38 | 2.43 | 1.22 | 3.24 | 2.26 | 2.63 |
| Capex per share | 0.01 | 0.08 | 0.1 | 0.04 | 0.01 | 0 | — | — |
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| Capex / revenue | 127.2% | 1.2K% | 1.5K% | 1K% | — | — | — | — |
| Capex / operating cash flow | -2.08% | -9.68% | -5.77% | -7.75% | -0.82% | -0.03% | — | — |
| Payout ratio | — | — | — | — | — | — | — | 0% |
| — |
| — |
| $125K |
| — |
| FY20 | — | -$0.94 | — | — | $125K | — |
| FY19 | — | -$0.44 | — | — | $125K | — |
| 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 | -100% | -100% | 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 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|
| Cash & short-term investments | 45.1M | 35.1M | 82.6M | 70.1M | 35.4M | 102.7M | 119.7M |
| Receivables | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — |
| Total current assets | 45.2M | 35.1M | 84.9M | 71.9M | 36.8M | 103.8M | 121.4M |
| Property, plant & equipment | 425K | 2.8M | 3.8M | 5.5M | 4M | 2.7M | 3.3M |
| Goodwill & intangibles | — | — | — | — | — | — | — |
| Total assets | 45.9M | 38.3M | 89.2M | 77.7M | 41.2M | 106.9M | 125.2M |
| Accounts payable | 218K | 921K | 1.6M | 380K | 422K | 237K | 1.1M |
| Short-term debt | — | 463K | — | 464K | 9.4M | 10.5M | 445K |
| Total current liabilities | 1.4M | 4.7M | 5.4M | 5.6M | 14.2M | 37.5M | 9M |
| Long-term debt | 420K | 483K | 560K | 22.3M | 13.4M | 3M | 48.6M |
| Total liabilities | 53.9M | 61.8M | 25.1M | 30M | 28.5M | 40.5M | 73.3M |
| Shareholders' equity | -8M | -23.6M | 64.1M | 47.7M | 12.7M | 66.3M | 51.9M |
| Total debt | 420K | 946K | 560K | 22.8M | 22.8M | 13.5M | 49M |
| Net debt | -4.8M | -34.1M | -82.1M | -47.3M | -12.7M | -89.2M | -70.7M |
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 | 43M | 35.4M | 25.7M | 21.5M | 16.6M | 102.7M | 92.2M | 100.7M | 87M | 119.7M | 194.8M | 201.6M |
| Receivables | — | — | — | — | — | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current assets | 45.1M | 36.8M | 27.1M | 22.7M | 18.1M | 103.8M | 93.1M | 103.6M | 90.1M | 121.4M | 197.8M | 204.2M |
| Property, plant & equipment | 4.6M | 4M | 3.7M | 3.4M | 3.1M | 2.7M | 2.4M | 2M | 3.1M | 3.3M | 3.6M | 3.5M |
| Goodwill & intangibles | — | — | — | — | — | — | — | — | — | — | — | — |
| Total assets | 50.1M | 41.2M | 31.2M | 26.5M | 21.5M | 106.9M | 95.9M | 106M | 93.6M | 125.2M | 201.9M | 208.1M |
| Accounts payable | 250K | 422K | 472K | 433K | 296K | 237K | 760K | 2M | 1.1M | 1.1M | 3M | 5.2M |
| Short-term debt | 6.6M | 9.4M | 10.3M | 10.3M | 10.4M | 10.5M | 9.8M | 7.3M | 4.7M | 445K | 453K | 461K |
| Total current liabilities | 10.3M | 14.2M | 13.5M | 14M | 15.3M | 37.5M | 20.1M | 14.7M | 10.9M | 9M | 7.1M | 12.7M |
| Long-term debt | 16.2M | 13.4M | 10.8M | 8.2M | 5.6M | 3M | 1.2M | 1M | 2.5M | 48.6M | 48.8M | 49.1M |
| Total liabilities | 27M | 28.5M | 25.2M | 36.5M | 36.8M | 40.5M | 21.2M | 15.8M | 13.5M | 73.3M | 63.9M | 82M |
| Shareholders' equity | 23M | 12.7M | 6M | -10M | -15.3M | 66.3M | 74.7M | 90.2M | 80.1M | 51.9M | 138M | 126.1M |
| Total debt | 22.8M | 22.8M | 21.1M | 18.6M | 16M | 13.5M | 10.9M | 8.3M | 7.2M | 49M | 49.3M | 49.5M |
| Net debt | -20.2M | -12.7M | -4.6M | -2.9M | -535K | -89.2M | -81.3M | -92.3M | -79.8M | -70.7M | -145.6M | -152M |
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 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|
| Net income | -8.2M | -17.7M | -36.1M | -18.8M | -37.9M | -55.2M | -38.2M |
| Depreciation & amortization | 43K | 91K | 232K | 778K | 960K | 990K | 845K |
| Stock-based compensation | 400K | 2.1M | 3M | 2.3M | 3.1M | 5.3M | 3.8M |
| Change in working capital | 166K | 202K | 1M | -1.6M | -727K | -645K | 447K |
| Operating cash flow | -7.6M | -15.2M | -31.8M | -16.7M | -33.9M | -48.9M | -38.3M |
| Capital expenditure | -159K | -1.5M | -1.8M | -1.3M | -280K | -16K | — |
| Investing cash flow | -35.7M | 38.5M | -1.8M | -1.3M | -280K | -16K | — |
| Dividends paid | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — |
| Financing cash flow | 22M | 460K | 71.3M | 19.9M | -121K | 92.6M | 55.6M |
| Net change in cash | -21.4M | 23.7M | 37.7M | 1.9M | -34.4M | 43.7M | 17.3M |
| Free cash flow | -5.3M | -10.5M | -24.1M | -32.7M | -34.7M | -27M | -38.9M |
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 | -8.4M | -11.1M | -8.2M | -22.2M | -10.6M | -14.1M | 7.4M | -4.8M | -11.3M | -29.5M | -8.9M | -38.9M |
| Depreciation & amortization | 245K | 249K | 251K | 249K | 245K | 245K | 245K | 242K | 195K | 163K | 149K | 171K |
| Stock-based compensation | 686K | 939K | 1M | 1.8M | 1.2M | 1.2M | 314K | 1.1M | 1.2M | 1.3M | 1.5M | 2.9M |
| Change in working capital | -324K | -82K | -59K | -144K | -264K | -178K | 376K | 880K | -913K | -74K | 1.5M | 2.3M |
| Operating cash flow | -7.7M | -9.8M | -6.8M | -20.1M | -9.3M | -12.6M | 8.5M | -8.9M | -10.2M | -10.6M | -18M | -17.2M |
| Capital expenditure | -103K | -27K | -7K | -6K | 0 | -3K | -3K | — | — | — | — | — |
| Investing cash flow | -103K | -27K | -7K | -6K | 0 | -3K | -3K | — | — | — | — | — |
| Dividends paid | — | — | — | — | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — | — | — | — | — |
| Financing cash flow | 0 | 0 | -1.5M | 955K | 1.6M | 91.5M | -2.1M | 17.2M | -3.2M | -4.2M | 93.8M | 24M |
| Net change in cash | -7.8M | -9.8M | -8.3M | -19.2M | -7.7M | 78.9M | 6.3M | 8.3M | -13.4M | -14.8M | 75.8M | 6.8M |
| Free cash flow | -8.9M | -7.5M | -8.4M | -6.2M | -6.6M | -5.8M | -8.6M | -8.9M | -10.4M | -11M | -18.7M | -17.3M |