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 | -$0.56 | -$0.52 | +7.1% | — | $0 | — |
| Q1 26 | -$0.54 | -$0.53 | +1.9% | — | $0 | — |
| Q4 25 | -$0.51 | -$0.56 | -9.8% | — | $0 | — |
| Q3 25 | -$0.52 | -$0.5 | +3.8% | — | $0 | — |
| Q2 25 | -$0.58 | -$0.53 | +8.6% | — | $0 | — |
| Q1 25 | -$0.58 | -$0.52 | +10.3% | — | $0 | — |
| Q4 24 | -$0.58 | -$0.09 | +84.5% | — | $0 | — |
| Q3 24 | -$0.57 | -$0.64 | -12.3% | — | $0 | — |
| Q2 24 | -$0.55 | -$0.59 | -7.3% | — | $0 | — |
| Q1 24 | -$0.51 | -$0.62 | -21.6% | — | $0 | — |
| Q4 23 | -$0.59 | -$0.63 | -6.8% | — | $0 | — |
| Q3 23 | -$0.53 | -$0.64 | -20.8% | — | $0 | — |
| Q2 23 | -$0.46 | -$0.59 | -28.3% | — | $0 | — |
| Q1 23 | -$0.53 | -$0.57 | -7.5% | — | $0 | — |
| Q4 22 | -$0.53 | -$0.58 | -9.4% | — | $0 | — |
| Q3 22 | -$0.52 | -$0.5 | +3.8% | — | $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 | — | -$2.04 | — | — | $0 | — |
| FY24 | — | -$2.32 | — | — | $0 | — |
| FY23 | — | -$2.42 | — | — | $0 | — |
| FY22 | — | -$2.39 | — | — | $0 | — |
Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.
| Period | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $6.4M | $8.4M | $9.7M | $22.5M | $7.9M | $0 | $0 | $0 | $0 | $0 |
| YoY change | +112.8% | +31.5% | +16.4% | +131.1% | -65% | -100% | 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.
Revenue, gross profit, operating income, and net income per period.
Click a row to chart it; unreported figures show a dash.
| Period | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 6.4M | 8.4M | 9.7M | 22.5M | 7.9M | 0 | 0 | 0 | 0 | 0 |
| Cost of revenue | — | — | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — | — | — | — |
| Research & development | 22M | 29.8M | 38.3M | 43.7M | 25.7M | 55.9M | 121.6M | 173.8M | 232.7M | 269.8M |
| Selling, general & administrative | 3.4M | 4.7M | 7.5M | 11M | 17.4M | 19.6M | 26.2M | 34.4M | 43.3M | 63.6M |
| Operating expenses | 25.4M | 34.5M | 45.7M | 54.7M | 43.2M | 75.6M | 147.8M | 208.1M | 275.9M | 333.4M |
| Operating income | -19.1M | -26.2M | -36M | -32.2M | -35.3M | -75.6M | -147.8M | -208.1M | -275.9M | -333.4M |
| Operating margin | -300.1% | -312.8% | -369.9% | -143% | -448.3% | — | — | — | — | — |
| Non-operating income, net | 681K | 274K | 320K | 78K | -39.7M | 2.8M | 3.6M | 2.6M | 2M | -7.2M |
| Pretax income | -18.1M | -25.5M | -34.5M | -31.8M | -74.8M | -72.3M | -140.2M | -192.4M | -255.9M | -328.9M |
| Income tax | — | — | — | — | — | — | — | — | — | — |
| Net income | -18.1M | -25.5M | -34.5M | -31.8M | -74.8M | -72.3M | -140.2M | -192.4M | -255.9M | -328.9M |
| Net margin | -285.2% | -304.9% | -354.8% | -141.5% | -950.4% | — | — | — | — | — |
| EBITDA | -18.2M | -25M | -34.7M | -31M | 4.8M | -73.6M | -142M | -204.5M | -271.6M | -314.1M |
| EPS | -3.11 | -3.46 | -5.56 | -4.16 | -16.2 | -1.65 | -2.39 | -2.42 | -2.32 | -2.04 |
| Diluted EPS | -3.11 | -3.46 | -5.56 | -4.16 | -16.2 | -1.65 | -2.39 | -2.42 | -2.32 | -2.04 |
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 | 50.1M | 48.7M | 52.7M | 54.3M | 63.6M | 62M | 63M | 62.2M | 69M | 75.6M | 75.4M | 70.8M |
| Selling, general & administrative | 9.5M | 9.5M | 9.7M | 10.1M | 11.8M | 11.7M | 11.9M | 13.4M | 14.4M | 23.9M | 28.2M | 31.8M |
| Operating expenses | 59.6M | 58.2M | 62.4M | 64.4M | 75.4M | 73.7M | 74.9M | 75.6M | 83.4M | 99.5M | 103.6M | 102.6M |
| Operating income | -59.6M | -58.2M | -62.4M | -64.4M | -75.4M | -73.7M | -74.9M | -75.6M | -83.4M | -99.5M | -103.6M | -102.6M |
| Operating margin | — | — | — | — | — | — | — | — | — | — | — | — |
| Non-operating income, net | — | -7K | -1K | 44K | 1K | 1.9M | -5K | -6K | -3K | -7.2M | -140K | -11K |
| Pretax income | -55.4M | -54.4M | -58.3M | -59M | -70.6M | -67.9M | -72M | -73.5M | -80.9M | -102.5M | -97.4M | -96.4M |
| Income tax | — | — | — | — | — | — | — | — | — | — | — | — |
| Net income | -55.4M | -54.4M | -58.3M | -59M | -70.6M | -67.9M | -72M | -73.5M | -80.9M | -102.5M | -97.4M | -96.4M |
| Net margin | — | — | — | — | — | — | — | — | — | — | — | — |
| EBITDA | -58.7M | -57.4M | -61.3M | -63.3M | -74.3M | -72.6M | -73.8M | -72.1M | -78.3M | -100.1M | -95M | -93.8M |
| EPS | -0.64 | -0.63 | -0.62 | -0.59 | -0.64 | -0.61 | -0.63 | -0.65 | -0.58 | -0.64 | -0.53 | -0.52 |
| Diluted EPS | -0.64 | -0.63 | -0.62 | -0.59 | -0.64 | -0.61 | -0.63 | -0.65 | -0.58 | -0.64 | -0.53 | -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 | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market cap | — | — | — | — | — | — | — | — | — | — | 5.5B |
| Enterprise value | — | — | — | — | — | — | — | — | — | — | 5.1B |
| Shares outstanding | 5.9M | 7.4M | 6.2M | 7.6M | 11.1M | 43.8M | 58.7M | 79.7M | 110.5M | 161M | 161M |
| Metric | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E | — | — | — | — | — | — | — | — | — | — | -15.6 |
| P/B | — | — | — | — | — | — | — | — | — | — | 11.6 |
| EV/EBITDA | — | — | — | — | — | — | — | — | — | — | -13.3 |
| Earnings yield | — | — | — | — | — | — | — | — | — | — | -6.41% |
| FCF yield | — | — | — | — | — | — | — | — | — | — | -3.37% |
| PEG | — | — | — | — | — | — | — | — | — | — | 0.8 |
| Metric | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating margin | -300.1% | -312.8% | -369.9% | -143% | -448.3% | — | — | — | — | — | 0% |
| Net margin | -285.2% | -304.9% | -354.8% | -141.5% | -950.4% | — | — | — | — | — | 0% |
| ROE | -34.6% | -90.1% | -57.3% | -100.2% | -31.9% | -33.7% | -54.8% | -74.6% | -99.8% | -51.7% | -109.7% |
| ROA | -24% | -51.9% | -40.2% | -64.4% | -29.8% | -31.1% | -46.6% | -61.4% | -78% | -35.1% | -43.8% |
| Return on tangible assets | -24% | -51.9% | -40.2% | -64.4% | -29.8% | -31.1% | -46.6% | -61.4% | -78% | -35.1% | -45.2% |
| Metric | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current ratio | 7.98 | 3.79 | 3.25 | 3.06 | 18.7 | 13 | 9.87 | 7.09 | 5.32 | 14.2 | 13.6 |
| Quick ratio | 7.98 | 3.79 | 3.25 | 3.06 | 18.7 | 13 | 9.87 | 7.09 | 5.32 | 14.2 | 13.6 |
| Debt / equity | — | — | 0 | 0.19 | 0.02 | 0.01 | 0.08 | 0.07 | 0.07 | 0.38 | 0.46 |
| Debt / assets | — | — | 0 | 0.12 | 0.02 | 0.01 | 0.07 | 0.06 | 0.05 | 0.25 | 0.29 |
| Net debt / EBITDA | — | — | 2.27 | 1.01 | -48.9 | 2.94 | 1.69 | 1.21 | 0.99 | 2.11 | 1.49 |
| Interest coverage | — | — | — | — | — | — | — | — | — | -106.4 | -71.8 |
| Metric | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue per share | 1.09 | 1.13 | 1.56 | 2.95 | 0.71 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (basic) | -3.11 | -3.46 | -5.56 | -4.16 | -16.2 | -1.65 | -2.39 | -2.42 | -2.32 | -2.04 | -2.04 |
| EPS (diluted) | -3.11 | -3.46 | -5.56 | -4.16 | -16.2 | -1.65 | -2.39 | -2.42 | -2.32 | -2.04 | -2.16 |
| Book value per share | 8.95 | 3.83 | 9.68 | 4.17 | 21.2 | 4.89 | 4.35 | 3.24 | 2.32 | 3.95 | 2.72 |
| FCF per share | -3.75 | -3.62 | -5.31 | -5.45 | -3.24 | -1.38 | -2.14 | -1.96 | -1.89 | -1.65 | -1.81 |
| Cash per share | 11.7 | 5.54 | 12.6 | 4.91 | 21.9 | 5.01 | 4.41 | 3.34 | 2.6 | 5.6 | 4.57 |
| Capex per share | 0.56 | 0.12 | 0.09 | 0.02 | 0.76 | 0.04 | 0.12 | 0.04 | 0.01 | — | — |
| Metric | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Capex / revenue | 52% | 10.9% | 5.64% | 0.76% | 107% | — | — | — | — | — | — |
| Capex / operating cash flow | -17% | -3.41% | -1.57% | -0.4% | -34.3% | -2.77% | -5.5% | -1.79% | -0.27% | — | — |
| Payout ratio | — | — | — | — | — | — | — | — | — | — | 0% |
| FY21 | — | -$1.65 | — | — | $0 | — |
| FY20 | — | -$16.2 | — | — | $7.9M | — |
| FY19 | — | -$4.16 | — | — | $22.5M | — |
| FY18 | — | -$5.56 | — | — | $9.7M | — |
| FY17 | — | -$3.46 | — | — | $8.4M | — |
| FY16 | — | -$3.11 | — | — | $6.4M | — |
| 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 |
| 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 | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & short-term investments | 68.5M | 41M | 78.6M | 37.4M | 242.2M | 219.7M | 259.3M | 265.7M | 287.1M | 900.8M |
| Receivables | 928K | 830K | 1.7M | 2M | 0 | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — | — | — | — |
| Total current assets | 69.7M | 42.4M | 81M | 40.6M | 244.9M | 222.6M | 265M | 270.8M | 296.5M | 910.4M |
| Property, plant & equipment | 4.6M | 4.1M | 3.3M | 1.9M | 134K | 1.7M | 7.8M | 8.3M | 6.5M | 5.5M |
| Goodwill & intangibles | — | — | — | — | — | — | — | — | — | — |
| Total assets | 75.5M | 49.1M | 85.9M | 49.4M | 250.9M | 232.1M | 300.8M | 313.4M | 327.9M | 937.6M |
| Accounts payable | 1.5M | 1.3M | 1.5M | 3.2M | 732K | 3.5M | 5.8M | 10.7M | 12M | 9.5M |
| Short-term debt | — | — | — | 1.6M | 2.1M | 2.3M | 1.4M | 1.4M | 1.6M | 1.5M |
| Total current liabilities | 8.7M | 11.2M | 24.9M | 13.2M | 13.1M | 17.1M | 26.8M | 38.2M | 55.7M | 64M |
| Long-term debt | — | — | 0 | 4.4M | 3.2M | 831K | 18.2M | 17.5M | 15.9M | 237.3M |
| Total liabilities | 23.2M | 20.8M | 25.7M | 17.7M | 16.2M | 17.9M | 45.1M | 55.6M | 71.6M | 301.2M |
| Shareholders' equity | 52.4M | 28.3M | 60.2M | 31.8M | 234.7M | 214.2M | 255.7M | 257.8M | 256.3M | 636.4M |
| Total debt | — | — | 0 | 6M | 5.2M | 3.2M | 19.6M | 18.9M | 17.5M | 238.8M |
| Net debt | — | — | -55.7M | -31.4M | -237M | -216.5M | -120.2M | -34.4M | -80.7M | -73.2M |
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 | 279M | 265.7M | 435.7M | 363.2M | 335.5M | 287.1M | 245.7M | 237.8M | 390.9M | 900.8M | 866.4M | 792.3M |
| Receivables | — | — | — | — | — | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current assets | 286M | 270.8M | 441.9M | 370M | 341.5M | 296.5M | 252.9M | 245M | 397.2M | 910.4M | 877.8M | 804.8M |
| Property, plant & equipment | 30.8M | 8.3M | 29.3M | 28.4M | 27.6M | 6.5M | 26.1M | 24.9M | 23.9M | 5.5M | 22.8M | 27.4M |
| Goodwill & intangibles | — | — | — | — | — | — | — | — | — | — | — | — |
| Total assets | 355.4M | 313.4M | 476.1M | 429.9M | 384M | 327.9M | 283.8M | 274.8M | 425.9M | 937.6M | 903M | 834.5M |
| Accounts payable | 9.9M | 10.7M | 15.6M | 9M | 15.1M | 12M | 14.2M | 16.6M | 16M | 9.5M | 13.7M | 7.5M |
| Short-term debt | 1.3M | 1.4M | 1.4M | 1.5M | 1.5M | 1.6M | 1.6M | 1.7M | 1.7M | 1.5M | 1.4M | 1.5M |
| Total current liabilities | 34.7M | 38.2M | 36.7M | 40M | 53M | 55.7M | 49.3M | 58.4M | 62.2M | 64M | 58M | 59.3M |
| Long-term debt | 17.8M | 17.5M | 17.1M | 16.7M | 16.3M | 15.9M | 15.5M | 59M | 58.9M | 237.3M | 237.3M | 242.8M |
| Total liabilities | 52.5M | 55.6M | 53.8M | 56.7M | 69.4M | 71.6M | 64.8M | 119.8M | 123.5M | 301.2M | 295.3M | 302.2M |
| Shareholders' equity | 302.9M | 257.8M | 422.3M | 373.2M | 314.7M | 256.3M | 219M | 155M | 302.5M | 636.4M | 607.7M | 532.4M |
| Total debt | 19.2M | 18.9M | 18.5M | 18.2M | 17.8M | 17.5M | 17.1M | 60.7M | 60.6M | 238.8M | 238.7M | 244.3M |
| Net debt | -67.6M | -34.4M | -197.3M | -70M | -79.2M | -80.7M | -108.9M | -66.9M | -64.7M | -73.2M | -2.6M | 63.1M |
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 | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net income | -18.1M | -25.5M | -34.5M | -31.8M | -74.8M | -72.3M | -140.2M | -192.4M | -255.9M | -328.9M |
| Depreciation & amortization | 830K | 1.2M | 1.3M | 1.3M | 720K | 2M | 5.9M | 3.6M | 4.4M | 4.6M |
| Stock-based compensation | 1M | 1.3M | 3.1M | 3.2M | 6M | 11.7M | 18.4M | 30.6M | 39.7M | 46.1M |
| Change in working capital | -3.1M | -3.8M | -4.8M | -15.8M | -1.5M | -3M | -7.3M | 3.9M | -26K | -2.5M |
| Operating cash flow | -19.4M | -26.8M | -34.9M | -43.1M | -24.5M | -62M | -124.7M | -156M | -211.8M | -264.4M |
| Capital expenditure | -3.3M | -912K | -549K | 171K | 8.4M | -1.7M | -6.9M | -2.8M | -573K | — |
| Investing cash flow | -30.4M | 13.5M | -10.5M | 23.2M | 8.4M | -1.7M | -124.7M | -97.8M | 38.3M | -398M |
| Dividends paid | — | — | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — | — | — |
| Financing cash flow | -40K | -789K | 69.7M | 0 | 231.6M | 37.9M | 161.9M | 161.8M | 213.3M | 325.6M |
| Net change in cash | -49.9M | -14.1M | 24.3M | -20M | 215.5M | -25.8M | -87.5M | -92M | 39.8M | -336.9M |
| Free cash flow | -21.9M | -26.7M | -33M | -41.5M | -35.9M | -60.5M | -125.5M | -156.4M | -208.4M | -266M |
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 | -55.4M | -54.4M | -58.3M | -59M | -70.6M | -67.9M | -72M | -73.5M | -80.9M | -102.5M | -97.4M | -96.4M |
| Depreciation & amortization | 855K | 794K | 1.1M | 1.1M | 1.1M | 1.1M | 1.1M | 1.2M | 1.1M | 1.1M | 1.2M | 1.4M |
| Stock-based compensation | 8.8M | 8.9M | 9.4M | 10M | 10.4M | 10M | 10M | 9.7M | 10.6M | 15.8M | 16.9M | 17.1M |
| Change in working capital | 2.4M | 465K | 4.6M | -6.9M | 5.7M | -3.4M | 1.8M | 2.1M | -611K | -5.7M | 5.2M | -6.6M |
| Operating cash flow | -43.3M | -44.3M | -43.3M | -54.8M | -53.4M | -60.2M | -59.1M | -54.5M | -64.3M | -79.1M | -86.9M | -77.3M |
| Capital expenditure | -121K | -315K | -70K | -148K | -280K | -75K | -547K | — | — | — | — | — |
| Investing cash flow | -90.5M | 10.5M | 1M | -84.6M | 60.2M | 61.7M | 69.4M | 9M | -155M | -322M | -36M | 14.7M |
| Dividends paid | — | — | — | — | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — | — | — | — | — |
| Financing cash flow | -170K | 0 | 213.7M | -365K | 0 | 0 | 24.3M | 0 | 215.6M | -129.9M | 45.7M | 0 |
| Net change in cash | -134M | -33.8M | 171.4M | -139.8M | 6.7M | 1.4M | 34.6M | -45.5M | -3.7M | -531M | -77.2M | -62.6M |
| Free cash flow | -38.1M | -44.4M | -52.6M | -42.8M | -52.3M | -60.7M | -67.1M | -54.7M | -64.4M | -79.9M | -87.3M | -77.6M |