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 | -$0.33 | -$0.36 | -9.1% | — | $0 | — |
| Q1 26 | -$0.31 | -$0.3 | +3.2% | — | $0 | — |
| Q4 25 | -$0.39 | -$0.61 | -56.4% | — | $0 | — |
| Q3 25 | -$0.4 | -$0.38 | +5.0% | — | $0 | — |
| Q2 25 | -$0.37 | -$0.41 | -10.8% | — | $0 | — |
| Q1 25 | -$0.49 | -$0.42 | +14.3% | — | $0 | — |
| Q4 24 | -$0.64 | -$0.63 | +1.6% | — | $0 | — |
| Q3 24 | -$0.59 | -$0.56 | +5.1% | — | $0 | — |
| Q2 24 | -$0.55 | -$0.56 | -1.8% | — | $0 | — |
| Q1 24 | -$0.44 | -$0.55 | -25.0% | — | $0 | — |
| Q4 23 | -$0.34 | -$0.53 | -55.9% | — | $0 | — |
| Q3 23 | -$0.42 | -$0.67 | -59.5% | — | $0 | — |
| Q2 23 | -$0.7 | -$0.62 | +11.4% | — | $0 | — |
| Q1 23 | -$0.65 | -$0.57 | +12.3% | — | $0 | — |
| Q4 22 | -$0.63 | -$0.73 | -15.9% | — | $0 | — |
| Q3 22 | -$0.64 | -$0.43 | +32.8% | — | $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 | — | -$3.08 | — | — | $0 | — |
| FY24 | — | -$2.3 | — | — | $0 | — |
| FY23 | — | -$2.32 | — | — | $0 | — |
| FY22 | — | -$2.16 | — | — | $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 | 8.9M | 12.6M | 23.4M | 44M | 65.1M | 87.5M | 119M | 118.4M |
| Selling, general & administrative | 3.6M | 8.6M | 28M | 39.2M | 45.4M | 49.4M | 59.2M | 60.6M |
| Operating expenses | 12.5M | 21.2M | 51.4M | 83.2M | 110.4M | 136.9M | 178.2M | 179M |
| Operating income | -10.5M | -18.4M | -47.1M | -73.6M | -96M | -124M | -157.1M | -175.3M |
| Operating margin | — | — | — | — | — | — | — | — |
| Non-operating income, net | -2.7M | -1.1M | -13.2M | 2M | 4.9M | 8.6M | -209K | -117.7M |
| Pretax income | -13.2M | -19.6M | -60.3M | -71.5M | -91.1M | -117.7M | -153.5M | -290.3M |
| Income tax | 0 | 15K | 32K | 199K | 408K | 780K | 1.6M | -2.5M |
| Net income | -13.2M | -19.6M | -60.3M | -71.7M | -91.5M | -118.5M | -155.1M | -287.9M |
| Net margin | — | — | — | — | — | — | — | — |
| EBITDA | -10.5M | -18.3M | -33.6M | -73.4M | -91.6M | -118.9M | -147.8M | -166.5M |
| EPS | -0.77 | -0.9 | -3.55 | -1.79 | -2.16 | -2.32 | -2.3 | -3.08 |
| Diluted EPS | -0.77 | -0.9 | -3.55 | -1.79 | -2.16 | -2.32 | -2.3 | -3.08 |
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 | 21.5M | 27.1M | 24.9M | 29.1M | 32.9M | 32.1M | 30.9M | 30.3M | 27.3M | 29.9M | 26.5M | 29.2M |
| Selling, general & administrative | 12.5M | 11.3M | 13.7M | 14.3M | 15M | 16.3M | 18.7M | 12.6M | 13.2M | 16M | 16.4M | 23.2M |
| Operating expenses | 34.1M | 38.4M | 38.6M | 43.3M | 47.9M | 48.4M | 49.6M | 42.9M | 40.5M | 46M | 42.9M | 52.4M |
| Operating income | -31.4M | -35.1M | -35.5M | -39.6M | -43.8M | -38.2M | -41.2M | -38.6M | -36.6M | -58.9M | -40.4M | -49.8M |
| Operating margin | — | — | — | — | — | — | — | — | — | — | — | — |
| Non-operating income, net | -870K | 4M | 1.6M | 392K | 4.6M | -4.6M | 22.4M | -367K | -101.8M | -37.9M | 130.7M | -205.9M |
| Pretax income | -33.3M | -32.1M | -35M | -37.9M | -38.3M | -42.3M | -17.5M | -38.3M | -137.9M | -96.6M | 91.2M | -253.5M |
| Income tax | 62K | 394K | 222K | 176K | 173K | 1M | 354K | 137K | -230K | -2.7M | -11K | 331K |
| Net income | -33.4M | -32.5M | -35.2M | -38.1M | -38.5M | -43.3M | -17.9M | -38.4M | -137.7M | -93.9M | 91.2M | -253.8M |
| Net margin | — | — | — | — | — | — | — | — | — | — | — | — |
| EBITDA | -30.1M | -32.6M | -33M | -37M | -41.6M | -36.2M | -37.9M | -36.8M | -34.6M | -57.2M | -37.5M | -45.5M |
| EPS | -0.67 | — | -0.55 | -0.56 | -0.56 | -0.63 | -0.2 | -0.41 | -1.44 | -1 | 0.71 | -1.88 |
| Diluted EPS | -0.67 | — | -0.55 | -0.56 | -0.56 | -0.63 | -0.24 | -0.41 | -1.44 | -1 | -0.3 | -1.88 |
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 | — | — | — | — | 340.8M | — | — | — | 1.8B |
| Enterprise value | — | — | — | — | 199.5M | — | — | — | 1.4B |
| Shares outstanding | 17.3M | 21.7M | 17M | 40M | 42.4M | 51M | 67.5M | 93.5M | 93.5M |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| P/E | — | — | — | — | — | — | — | — | -4.3 |
| P/B | — | — | — | — | 1.88 | — | — | — | 21 |
| EV/EBITDA | — | — | — | — | -2.18 | — | — | — | -7.71 |
| Earnings yield | — | — | — | — | — | — | — | — | -23.3% |
| FCF yield | — | — | — | — | -31.1% | — | — | — | 13.6% |
| PEG | — | — | — | — | — | — | — | — | -0.01 |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Operating margin | — | — | — | — | — | — | — | — | 0% |
| Net margin | — | — | — | — | — | — | — | — | 0% |
| ROE | 92% | 64.5% | -30.7% | -25.2% | -50.5% | -52.5% | -100.3% | 544.7% | -319.1% |
| ROA | -50.1% | -60.6% | -29.7% | -23.8% | -46.4% | -42.9% | -72.6% | -136.8% | -29.1% |
| ROIC | 28.3% | 53.8% | -756.3% | -497.7% | -239.9% | -321.4% | -720.4% | 104.7% | 63.1% |
| Return on tangible assets | -50.1% | -60.6% | -29.7% | -23.8% | -46.4% | -42.9% | -72.6% | -136.8% | -78.1% |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Current ratio | 14.2 | 1.35 | 29.4 | 19.5 | 12.3 | 13.3 | 5.92 | 0.77 | 1.29 |
| Quick ratio | 14.2 | 1.35 | 29.4 | 19.5 | 12.3 | 13.3 | 5.92 | 0.77 | 1.3 |
| Debt / equity | — | -0.69 | 0 | 0.01 | 0.01 | 0.15 | 0.21 | -0.66 | 0.65 |
| Debt / assets | — | 0.65 | 0 | 0.01 | 0.01 | 0.12 | 0.15 | 0.17 | 0.11 |
| Net debt / EBITDA | — | 0.21 | 5.67 | 3.68 | 1.54 | 1.57 | 0.9 | 0.69 | 2.17 |
| Interest coverage | — | — | — | — | — | -52.4 | -33.3 | -63.3 | -75.5 |
| Effective tax rate | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Revenue per share | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (basic) | -0.77 | -0.9 | -3.55 | -1.79 | -2.16 | -2.32 | -2.3 | -3.08 | -3.08 |
| EPS (diluted) | -0.77 | -0.9 | -3.55 | -1.79 | -2.16 | -2.32 | -2.3 | -3.08 | -3.79 |
| Book value per share | -0.83 | -1.4 | 11.6 | 7.11 | 4.27 | 4.42 | 2.29 | -0.57 | 0.62 |
| FCF per share | -0.58 | -0.83 | -2.44 | -1.7 | -2.5 | -1.91 | -1.77 | -1.68 | -1.19 |
| Cash per share | 1.33 | 1.15 | 11.2 | 6.83 | 3.37 | 4.32 | 2.45 | 1.6 | 3.13 |
| Capex per share | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0 | 0 | — | — |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Capex / operating cash flow | -1.43% | -1.13% | -0.33% | -0.52% | -0.77% | -0.06% | 0% | — | — |
| Payout ratio | — | — | — | — | — | — | — | — | 0% |
| -$1.79 |
| — |
| — |
| $0 |
| — |
| FY20 | — | -$3.55 | — | — | $0 | — |
| FY19 | — | -$0.9 | — | — | $0 | — |
| FY18 | — | -$0.77 | — | — | $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 | $0 | $0 | $0 | $0 | $0 |
| YoY change | 0% | 0% | 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 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|
| Cash & short-term investments | 22.9M | 25M | 190.3M | 273.2M | 143.2M | 220.2M | 165.1M | 149.6M |
| Receivables | — | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — | — |
| Total current assets | 26.3M | 32.2M | 202.4M | 295.3M | 191.7M | 261.3M | 201.3M | 191.5M |
| Property, plant & equipment | 108K | 218K | 245K | 4.1M | 2.9M | 4.7M | 2.2M | 3.4M |
| Goodwill & intangibles | — | — | — | — | — | — | — | — |
| Total assets | 26.4M | 32.4M | 203.5M | 300.9M | 197.3M | 276M | 213.7M | 210.3M |
| Accounts payable | 694K | 1.3M | 2.7M | 2.6M | 4.8M | 5.9M | 12.3M | 15.2M |
| Short-term debt | — | 21.1M | — | 2.2M | 1.5M | 2.4M | 7.2M | 19.6M |
| Total current liabilities | 1.8M | 23.9M | 6.9M | 15.1M | 15.6M | 19.6M | 34M | 247.8M |
| Long-term debt | — | — | 0 | 1.4M | 418K | 30.6M | 25M | 15.4M |
| Total liabilities | 40.8M | 62.8M | 6.9M | 16.5M | 16M | 50.2M | 59M | 263.2M |
| Shareholders' equity | -14.4M | -30.4M | 196.6M | 284.4M | 181.3M | 225.7M | 154.7M | -52.8M |
| Total debt | — | 21.1M | 0 | 3.6M | 1.9M | 33M | 32.2M | 35M |
| Net debt | — | -3.9M | -190.3M | -269.6M | -141.3M | -187.1M | -132.9M | -114.6M |
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 | 248M | 220.2M | 262.9M | 228.6M | 207M | 165.1M | 260.1M | 221.9M | 185.9M | 149.6M | 466M | 433.3M |
| Receivables | — | — | — | — | — | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current assets | 284.8M | 261.3M | 295.5M | 265.1M | 233.7M | 201.3M | 305.5M | 276.4M | 242.4M | 191.5M | 510.9M | 475.7M |
| Property, plant & equipment | 4.5M | 4.7M | 4.1M | 3.2M | 2.7M | 2.2M | 1.5M | 4.3M | 3.9M | 3.4M | 2.9M | 3.9M |
| Goodwill & intangibles | — | — | — | — | — | — | — | — | — | — | — | — |
| Total assets | 299M | 276M | 309M | 278.5M | 247.3M | 213.7M | 319.1M | 293.5M | 255.6M | 210.3M | 531.7M | 504.6M |
| Accounts payable | 4.2M | 5.9M | 9.3M | 8.2M | 8.2M | 12.3M | 8.6M | 10.9M | 5.2M | 15.2M | 10.9M | 12.2M |
| Short-term debt | 2.1M | 2.4M | 2.4M | 2.4M | 4.5M | 7.2M | 10.2M | 10M | 14.6M | 19.6M | 2.1M | 1.9M |
| Total current liabilities | 15.3M | 19.6M | 19.4M | 22M | 26.2M | 34M | 30M | 31.3M | 197.4M | 247.8M | 153.8M | 367.3M |
| Long-term debt | 30.4M | 30.6M | 30.4M | 30.2M | 28.1M | 25M | 21.8M | 25.3M | 20.6M | 15.4M | 51.3M | 52.7M |
| Total liabilities | 45.8M | 50.2M | 49.8M | 52.3M | 54.3M | 59M | 123.7M | 131M | 218M | 263.2M | 205.1M | 420M |
| Shareholders' equity | 253.3M | 225.7M | 259.2M | 226.3M | 193M | 154.7M | 195.5M | 162.6M | 37.6M | -52.8M | 326.7M | 84.5M |
| Total debt | 32.5M | 33M | 32.8M | 32.6M | 32.6M | 32.2M | 32M | 35.3M | 35.2M | 35M | 53.3M | 54.6M |
| Net debt | -215.5M | -187.1M | -230.1M | -196M | -174.4M | -132.9M | -228.1M | -186.6M | -150.8M | -114.6M | -412.7M | -378.7M |
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 | -13.2M | -19.6M | -60.3M | -71.7M | -91.5M | -118.5M | -155.1M | -287.9M |
| Depreciation & amortization | 22K | 63K | 112K | 175K | 330K | 242K | 233K | 216K |
| Stock-based compensation | 1.4M | 3.3M | 18M | 8.6M | 13.1M | 17.3M | 19.5M | 13.6M |
| Change in working capital | -12K | 580K | 1M | -3.1M | -1.6M | -2.8M | 5M | -395K |
| Operating cash flow | -9.1M | -14.6M | -39.7M | -64.2M | -77.5M | -101M | -126.7M | -157.2M |
| Capital expenditure | -130K | -165K | -131K | -334K | -596K | -64K | 0 | — |
| Investing cash flow | -130K | -165K | -628K | -334K | -596K | -64K | 0 | — |
| Dividends paid | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — |
| Financing cash flow | 32.7M | 18.4M | 194.1M | 154.8M | 440K | 173.5M | 26M | 140.4M |
| Net change in cash | 23.5M | 3.6M | 153.8M | 90.2M | -77.7M | 72.4M | -100.7M | -16.9M |
| Free cash flow | -9.9M | -18M | -41.5M | -68.1M | -106M | -97.4M | -119.2M | -157.2M |
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 | 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 | -33.4M | -32.5M | -35.2M | -38.1M | -38.5M | -43.3M | -17.9M | -38.4M | -137.7M | -93.9M | 91.2M | -253.8M |
| Depreciation & amortization | 186K | -102K | 61K | 63K | 59K | 50K | 37K | 158K | 15K | 6K | 0 | 0 |
| Stock-based compensation | 4.4M | 4.2M | 5.1M | 4.9M | 5M | 4.5M | 3.9M | 3.6M | 3.2M | 2.9M | 2.9M | 4M |
| Change in working capital | 1.1M | 274K | 2.6M | -949K | -1.4M | 4.7M | -6.2M | 716K | -2.1M | 9.2M | -7.5M | -6.2M |
| Operating cash flow | -26.9M | -27.3M | -26.5M | -33.2M | -33.9M | -33.1M | -13.3M | -38.7M | -35.1M | -37.8M | -47.9M | -40.3M |
| Capital expenditure | -18K | 0 | 0 | 0 | 0 | 0 | — | — | — | — | — | — |
| Investing cash flow | -18K | 0 | 0 | 0 | 0 | 0 | — | — | — | — | — | — |
| Dividends paid | — | — | — | — | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — | — | — | — | — |
| Financing cash flow | 116.8M | -121K | 26M | 0 | -53K | -1K | 140.4M | 0 | 0 | 0 | 159.2M | 1.4M |
| Net change in cash | 89.9M | -27.4M | -425K | -33.2M | -33.9M | -33.1M | 127M | -38.7M | -35.1M | -37.8M | 111.3M | -38.9M |
| Free cash flow | -17.1M | -27.8M | -20.8M | -34.4M | -22.2M | -41.8M | -45.7M | -38.7M | -35.1M | -37.8M | -47.9M | -40.3M |