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 | -$0.21 | -$0.22 | -4.8% | — | $1.8M | — |
| Q1 26 | -$0.21 | -$0.21 | 0.0% | — | $1.3M | — |
| Q4 25 | -$0.29 | -$0.23 | +20.7% | — | $348K | — |
| Q3 25 | -$0.48 | -$0.54 | -12.5% | — | $795K | — |
| Q2 25 | -$0.67 | -$0.62 | +7.5% | — | $1.5M | — |
| Q1 25 | -$0.7 | -$0.62 | +11.4% | — | $858K | — |
| Q4 24 | -$0.82 | -$2.83 | -245.1% | — | $652K | — |
| Q3 24 | -$1.17 | -$24.2 | -1967.5% | — | $0 | — |
| Q4 23 | -$0.77 | -$2.76 | -258.4% | — | $0 | — |
| Q3 23 | $0.03 | -$0.01 | -133.3% | — | $350K | — |
| Q1 21 | $0.04 | $0.01 | -75.0% | — | — | — |
| Q4 20 | $0.02 | $0.06 | +200.0% | — | — | — |
| Q3 20 | -$0.03 | -$0.02 | +33.3% | — | — | — |
| Q2 20 | -$0.03 | -$0.1 | -233.3% | — | — | — |
| Q1 20 | -$0.08 | -$0.01 | +87.5% | — | — | — |
| Q4 19 | $0.08 | -$0.08 | -200.0% | — | — | — |
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 | — | -$2.65 | — | — | $3.5M | — |
| FY24 | — | -$11 | — | — | $652K | — |
| FY23 | — | -$4.07 | — | — | $350K | — |
| FY22 | — | -$3.64 | — | — | $0 | — |
Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.
| Period | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|
| Revenue | $0 | $350K | $652K | $3.5M |
| YoY change | — | +InfinityT% | +86.3% | +436.5% |
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 | Q2 24 | Q3 24 | Q4 24 | Q1 25 | Q2 25 | Q3 25 | Q4 25 | Q1 26 | Q2 26 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue |
Revenue, gross profit, operating income, and net income per period.
Click a row to chart it; unreported figures show a dash.
| Period | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|
| Revenue | 0 | 350K | 652K | 3.5M |
| Cost of revenue | — | — | — | — |
| Gross profit | — | — | — | — |
| Gross margin | — | — | — | — |
| Research & development | 34.8M | 40.6M | 38.8M | 38.2M |
| Selling, general & administrative | 10.2M | 11.6M | 14.9M | 17.4M |
| Operating expenses | 45M | 52.2M | 53.7M | 55.6M |
| Operating income | -45M | -51.9M | -53.1M | -52.1M |
| Operating margin | — | -14.8K% | -8.1K% | -1.5K% |
| Non-operating income, net | -95K | -220K | -33K | -30.5M |
| Pretax income | -44.2M | -49.3M | -51.8M | -80.4M |
| Income tax | — | — | — | — |
| Net income | -44.2M | -49.3M | -51.8M | -80.4M |
| Net margin | — | -14.1K% | -7.9K% | -2.3K% |
| EBITDA | -44.1M | -50.2M | -51.4M | -20.1M |
| EPS | -3.64 | -4.07 | -11 | -2.65 |
| Diluted EPS | -3.64 | -4.07 | -11 | -2.65 |
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 | Q2 24 | Q3 24 | Q4 24 | Q1 25 | Q2 25 | Q3 25 | Q4 25 | Q1 26 | Q2 26 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 350K | 0 | 0 | 0 | 652K | 858K | 1.5M | 795K | 348K | 1.3M | 1.8M |
| Cost of revenue | — | — | — | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — | — | — | — | — |
| Research & development | 9.8M | 10.7M | 9.4M | 9.7M | 10M | 10.1M | 10.3M | 9.4M | 8.4M | 10.2M | 10.8M |
| Selling, general & administrative | 2.9M | 2.8M | 3.3M | 3.8M | 4.7M | 3.8M | 4.2M | 4.6M | 4.8M | 4.2M | 4.3M |
| Operating expenses | 12.7M | 13.5M | 12.7M | 13.5M | 14.7M | 14M | 14.5M | 14M | 13.1M | 14.4M | 15.2M |
| Operating income | -12.3M | -13.5M | -12.7M | -13.5M | -14M | -13.1M | -13M | -13.2M | -12.8M | -13.1M | -13.4M |
| Operating margin | -3.5K% | — | — | — | -2.2K% | -1.5K% | -870.3% | -1.7K% | -3.7K% | -1K% | -752.1% |
| Non-operating income, net | -47K | -83K | -145K | -62K | 145K | 79K | -12K | -2.4M | -28.2M | -6.2M | -21M |
| Pretax income | -11.7M | -13M | -12.6M | -13.5M | -13.3M | -12.4M | -12.6M | -15.1M | -40.3M | -18.3M | -33.5M |
| Income tax | — | — | — | — | — | — | — | — | — | — | — |
| Net income | -11.7M | -13M | -12.6M | -13.5M | -13.3M | -12.4M | -12.6M | -15.1M | -40.3M | -18.3M | -33.5M |
| Net margin | -3.3K% | — | — | — | -2K% | -1.4K% | -840.8% | -1.9K% | -11.6K% | -1.4K% | -1.9K% |
| EBITDA | -11.9M | -13M | -12.2M | -13.1M | -13.6M | -12.7M | -12.6M | -10.4M | 15.6M | -6.4M | 8.1M |
| EPS | -0.96 | — | — | -0.69 | — | -0.62 | -0.62 | -0.55 | — | -0.32 | -0.58 |
| Diluted EPS | -0.96 | — | — | -0.69 | — | -0.62 | -0.62 | -0.55 | — | -0.32 | -0.58 |
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 | — | — | — | 1.2B | 69.7M | — | — | 241.6M |
| Enterprise value | — | — | — | 1.2B | 43M | — | — | 162M |
| Shares outstanding | — | — | — | 12.1M | 12.1M | 4.7M | 30.4M | 30.4M |
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| P/E | — | — | — | — | — | — | — | -1.45 |
| P/S | — | — | — | — | 199.2 | — | — | 57.6 |
| P/B | — | — | — | -16.1 | -0.56 | — | — | -321.8 |
| EV/EBITDA | — | — | — | -26.7 | -0.86 | — | — | -3.2 |
| EV/Sales | — | — | — | — | 122.9 | — | — | 38.4 |
| Earnings yield | — | — | — | — | — | — | — | -68.8% |
| FCF yield | — | — | — | -3.41% | -64.3% | — | — | -5.31% |
| PEG | — | — | — | — | — | — | — | 0.23 |
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| Operating margin | — | — | — | — | -14.8K% | -8.1K% | -1.5K% | -752.1% |
| Net margin | — | — | — | — | -14.1K% | -7.9K% | -2.3K% | 0% |
| ROE | — | — | — | 57% | 39.8% | -82% | -168.5% | -545.9% |
| ROA | — | — | — | -43.1% | -89.7% | -66.1% | -68.2% | -45.3% |
| Return on tangible assets | — | — | — | -43.1% | -89.7% | -66.1% | -68.2% | -114.8% |
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| Current ratio | — | — | — | 10.6 | 5.13 | 6.92 | 7.35 | 4.7 |
| Quick ratio | — | — | — | 10.6 | 5.13 | 6.92 | 7.35 | 4.7 |
| Debt / equity | — | — | — | -0.16 | -0.09 | 0.14 | 0.04 | -0.03 |
| Debt / assets | — | — | — | 0.12 | 0.21 | 0.11 | 0.02 | 0.03 |
| Net debt / EBITDA | — | — | — | 1.6 | 0.53 | 1.08 | 5.35 | -12.2 |
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| Revenue per share | — | — | — | 0 | 0.03 | 0.14 | 0.12 | 0.09 |
| EPS (basic) | — | — | — | -3.64 | -4.07 | -11 | -2.65 | -2.65 |
| EPS (diluted) | — | — | — | -3.64 | -4.07 | -11 | -2.65 | -2.31 |
| Book value per share | — | — | — | -6.39 | -10.2 | 13.5 | 1.57 | -0.01 |
| FCF per share | — | — | — | -3.51 | -3.7 | -9.81 | -0.98 | -0.5 |
| Cash per share | — | — | — | 6.86 | 3.17 | 13.7 | 3.6 | 1.38 |
| Capex per share | — | — | — | 0.33 | 0.06 | 0.09 | — | — |
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| Capex / revenue | — | — | — | — | 193.7% | 67.6% | — | — |
| Capex / operating cash flow | — | — | — | -10.1% | -1.56% | -0.95% | — | — |
| Payout ratio | — | — | — | — | — | — | — | 0% |
| $350K |
| $0 |
| $0 |
| $0 |
| $652K |
| $858K |
| $1.5M |
| $795K |
| $348K |
| $1.3M |
| $1.8M |
| YoY change | — | — | — | -100% | +InfinityT% | — | +InfinityT% | +InfinityT% | -46.6% | +50.8% | +18.8% |
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 | 274M | 107.4M | 94.6M | 83.2M | 38.4M | 64M | 109.5M |
| Receivables | 78.1M | 64.6M | 63.3M | — | — | — | — |
| Inventory | 32M | 32.5M | 23.7M | — | — | — | — |
| Total current assets | 403.5M | 237.9M | 214.3M | 84.4M | 40M | 66.4M | 114.1M |
| Property, plant & equipment | 27M | 76.5M | 55.4M | 16.8M | 13.3M | 10.3M | 2.8M |
| Goodwill & intangibles | 255.9M | 280.4M | 264.2M | — | — | — | — |
| Total assets | 603.6M | 498.7M | 433.8M | 102.5M | 54.9M | 78.3M | 117.8M |
| Accounts payable | 39.9M | 24.6M | 35.8M | 2.2M | 1M | 1.2M | 182K |
| Short-term debt | — | 37.8M | 9.2M | 2.4M | 3.1M | 3.1M | 286K |
| Total current liabilities | 71.1M | 121.5M | 107.2M | 7.9M | 7.8M | 9.6M | 15.5M |
| Long-term debt | 275.9M | 201.4M | 199.2M | 10M | 8.6M | 5.6M | 1.7M |
| Total liabilities | 348.5M | 357.9M | 338.7M | 180.1M | 178.7M | 15.2M | 70.1M |
| Shareholders' equity | -2.6M | 137.9M | 95.1M | -77.5M | -123.7M | 63.1M | 47.7M |
| Total debt | 275.9M | 239.1M | 208.5M | 12.4M | 11.7M | 8.6M | 2M |
| Net debt | 19.4M | 131.7M | 113.8M | -70.8M | -26.7M | -55.4M | -107.5M |
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 | Q4 23 | Q2 24 | Q3 24 | Q4 24 | Q1 25 | Q2 25 | Q3 25 | Q4 25 | Q1 26 | Q2 26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & short-term investments | 38.4M | 12.6M | 2.5M | 64M | 49.3M | 39.1M | 75.3M | 109.5M | 99.2M | 86.4M |
| Receivables | — | — | 1M | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — | — | — | — |
| Total current assets | 40M | 14.8M | 5.5M | 66.4M | 51.7M | 41.1M | 77.7M | 114.1M | 102.2M | 90M |
| Property, plant & equipment | 13.3M | 11.8M | 10.9M | 10.3M | 9.5M | 8.6M | 7.1M | 2.8M | 2.4M | 2.5M |
| Goodwill & intangibles | — | — | — | — | — | — | — | — | — | — |
| Total assets | 54.9M | 29.9M | 21.4M | 78.3M | 62.8M | 51.3M | 86.4M | 117.8M | 105.5M | 93.4M |
| Accounts payable | 1M | 1.5M | 3.9M | 1.2M | 1.4M | 1.2M | 585K | 182K | 863K | 1.1M |
| Short-term debt | 3.1M | 3.1M | 3.1M | 3.1M | 3.1M | 3.2M | 3.3M | 286K | 384K | 802K |
| Total current liabilities | 7.8M | 7.8M | 11.8M | 9.6M | 6.4M | 7.3M | 7.9M | 15.5M | 16.6M | 19.1M |
| Long-term debt | 8.6M | 7.1M | 6.4M | 5.6M | 4.8M | 4M | 3.1M | 1.7M | 1.7M | 1.6M |
| Total liabilities | 178.7M | 177.1M | 180.3M | 15.2M | 11.2M | 11.3M | 27.7M | 70.1M | 74.6M | 94.1M |
| Shareholders' equity | -123.7M | -147.1M | -159M | 63.1M | 51.6M | 40M | 58.7M | 47.7M | 30.9M | -693K |
| Total debt | 11.7M | 10.2M | 9.4M | 8.6M | 7.9M | 7.1M | 6.3M | 2M | 2.1M | 2.4M |
| Net debt | -26.7M | -2.4M | 6.9M | -55.4M | -41.5M | -31.9M | -68.9M | -107.5M | -97.1M | -84M |
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 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|
| Net income | -44.2M | -49.3M | -51.8M | -80.4M |
| Depreciation & amortization | 878K | 1.7M | 1.7M | 1.6M |
| Stock-based compensation | 1.4M | 2.9M | 4M | 4M |
| Change in working capital | 443K | -713K | -2.2M | 13.1M |
| Operating cash flow | -39.8M | -43.6M | -46.4M | -29.6M |
| Capital expenditure | -4M | -678K | -441K | — |
| Investing cash flow | -4M | -678K | -441K | — |
| Dividends paid | — | — | — | — |
| Share repurchases | — | — | — | — |
| Financing cash flow | 100.1M | 116K | 71.5M | 72.2M |
| Net change in cash | 56.3M | -44.2M | 24.7M | 42.7M |
| Free cash flow | -42.6M | -44.8M | -46M | -29.8M |
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 | Q3 23 | Q4 23 | Q2 24 | Q3 24 | Q4 24 | Q1 25 | Q2 25 | Q3 25 | Q4 25 | Q1 26 | Q2 26 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Net income | -11.7M | -13M | -12.6M | -13.5M | -13.3M | -12.4M | -12.6M | -15.1M | -40.3M | -18.3M | -33.5M |
| Depreciation & amortization | 430K | 435K | 424K | 418K | 418K | 421K | 430K | 416K | 372K | 520K | 515K |
| Stock-based compensation | 722K | 636K | 786K | 1.6M | 797K | 861K | 1M | 984K | 1.2M | 1.5M | 1.9M |
| Change in working capital | 2.6M | -787K | -1.7M | 391K | -1.2M | -928K | -920K | -1.3M | 16.3M | -470K | -1.6M |
| Operating cash flow | -7.6M | -12.3M | -12.6M | -10.6M | -12.8M | -11.5M | -10.3M | -11.2M | 6.3M | -11M | -12.7M |
| Capital expenditure | -207K | -243K | -163K | 0 | -263K | -279K | — | — | — | — | — |
| Investing cash flow | -207K | -243K | -163K | 0 | -263K | -279K | — | — | — | — | — |
| Dividends paid | — | — | — | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — | — | — | — |
| Financing cash flow | -203K | -248K | -812K | -386K | 72.9M | -151K | -43K | 32.5M | 24.9M | 0 | 0 |
| Net change in cash | -8M | -12.7M | -13.6M | -11M | 59.9M | -11.9M | -10.4M | 21.3M | 31.2M | -11M | -12.7M |
| Free cash flow | -6.8M | -12M | -13.6M | -9.7M | -11.6M | -14.6M | -10.3M | -11.2M | 6.3M | -11M | -12.8M |