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 | -$0.31 | -$0.24 | +22.6% | — | $1.5M | — |
| Q1 26 | -$0.31 | -$0.26 | +16.1% | — | $2.4M | — |
| Q4 25 | -$0.32 | -$0.28 | +12.5% | — | $3.9M | — |
| Q3 25 | -$0.36 | -$0.3 | +16.7% | — | $2.2M | — |
| Q2 25 | -$0.42 | -$0.35 | +16.7% | — | $2.7M | — |
| Q1 25 | -$0.44 | -$0.44 | 0.0% | — | $2.4M | — |
| Q4 24 | -$0.4 | -$0.39 | +2.5% | — | $2.1M | — |
| Q3 24 | -$0.45 | -$0.38 | +15.6% | — | $2M | — |
| Q2 24 | -$0.44 | -$0.44 | 0.0% | — | $3.5M | — |
| Q1 24 | -$0.38 | -$0.47 | -23.7% | — | $2.4M | — |
| Q4 23 | -$0.35 | -$0.41 | -17.1% | — | $3.6M | — |
| Q3 23 | -$0.42 | -$0.12 | +71.4% | — | $23.7M | — |
| Q2 23 | -$0.49 | -$0.48 | +2.0% | — | $3.8M | — |
| Q1 23 | -$0.49 | -$0.46 | +6.1% | — | $3.5M | — |
| Q4 22 | -$0.46 | -$0.44 | +4.3% | — | $3.7M | — |
| Q3 22 | -$0.48 | -$0.44 | +8.3% | — | $3.3M | — |
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 | — | -$1.59 | — | — | $11.2M | — |
| FY24 | — | -$1.65 | — | — | $10M | — |
| FY23 | — | -$1.38 | — | — | $34.5M | — |
| FY22 | — | -$1.64 | — | — | $13.9M | — |
| FY21 | — | -$2.11 |
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 | $5.8M | $12.4M | $9.6M | $13.9M | $34.5M | $10M | $11.2M |
| YoY change | — | +113.6% | -22.4% | +44.3% | +148.9% | -71% | +11.7% |
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 |
|---|
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 | 5.8M | 12.4M | 9.6M | 13.9M | 34.5M | 10M | 11.2M |
| Cost of revenue | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — |
| Research & development | 23.6M | 34.4M | 52.3M | 82.2M | 112.1M | 130.2M | 109.4M |
| Selling, general & administrative | 16.5M | 14.1M | 24.3M | 38M | 38.5M | 46.5M | 37.9M |
| Operating expenses | 40.1M | 48.5M | 76.6M | 120.3M | 150.5M | 176.6M | 147.4M |
| Operating income | -34.3M | -36.1M | -67M | -106.4M | -116.1M | -166.6M | -136.2M |
| Operating margin | -592.7% | -292.2% | -697.8% | -768.2% | -336.6% | -1.7K% | -1.2K% |
| Non-operating income, net | 2.3M | -219K | 377K | 7M | 14.2M | 17.5M | -12.5M |
| Pretax income | -31M | -36.1M | -66.6M | -99.4M | -101.9M | -149.1M | -148.7M |
| Income tax | -7.5M | -1.8M | 321K | 70K | 193K | -9K | -550K |
| Net income | -23.4M | -34.3M | -66.9M | -99.4M | -102.1M | -149.1M | -148.1M |
| Net margin | -404.8% | -277.6% | -697.3% | -717.8% | -296.1% | -1.5K% | -1.3K% |
| EBITDA | -32.5M | -34.5M | -67.6M | -104.6M | -112.5M | -162.7M | -111.2M |
| EPS | -0.85 | -1.24 | -2.11 | -1.64 | -1.38 | -1.65 | -1.59 |
| Diluted EPS | -0.85 | -1.24 | -2.11 | -1.64 | -1.38 | -1.65 | -1.59 |
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 | 23.7M | 3.6M | 2.4M | 3.5M | 2M | 2.1M | 2.4M | 2.7M | 2.2M | 3.9M | 2.4M | 1.5M |
| Cost of revenue | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — | — | — | — | — | — |
| Research & development | 28.6M | 31.3M | 33.8M | 35.5M | 30.4M | 30.5M | 35.5M | 27.7M | 22.4M | 23.8M | 20.6M | 18.9M |
| Selling, general & administrative | 9.7M | 9.7M | 14.6M | 11.5M | 9.8M | 10.5M | 9.7M | 10.4M | 9.2M | 8.6M | 8.1M | 7.9M |
| Operating expenses | 38.3M | 41M | 48.4M | 47M | 40.3M | 41M | 45.3M | 38.1M | 31.6M | 32.4M | 28.7M | 26.8M |
| Operating income | -14.6M | -37.4M | -46M | -43.5M | -38.2M | -38.9M | -42.9M | -35.4M | -29.4M | -28.5M | -26.3M | -25.3M |
| Operating margin | -61.8% | -1.1K% | -1.9K% | -1.3K% | -1.9K% | -1.9K% | -1.8K% | -1.3K% | -1.3K% | -722% | -1.1K% | -1.7K% |
| Non-operating income, net | 4.6M | 3.1M | 4.8M | 5.8M | 3.6M | 3.4M | 2.9M | -18.7M | 1.9M | 1.4M | 1.2M | 1.1M |
| Pretax income | -10M | -34.3M | -41.2M | -37.7M | -34.7M | -35.5M | -40M | -54.1M | -27.5M | -27M | -25.1M | -24.3M |
| Income tax | — | — | — | — | — | — | — | — | — | — | — | — |
| Net income | -10M | -34.5M | -41.2M | -37.7M | -34.7M | -35.5M | -40M | -54.1M | -27.5M | -26.5M | -25.1M | -24.3M |
| Net margin | -42.3% | -969.8% | -1.7K% | -1.1K% | -1.7K% | -1.7K% | -1.7K% | -2K% | -1.3K% | -672.1% | -1K% | -1.6K% |
| EBITDA | -13.1M | -36.7M | -45.3M | -42.5M | -37M | -37.7M | -41.7M | -13M | -28.8M | -27.8M | -25.6M | -24.7M |
| EPS | -0.12 | — | -0.46 | -0.42 | -0.38 | -0.39 | -0.43 | -0.58 | -0.3 | -0.28 | -0.26 | -0.24 |
| Diluted EPS | -0.12 | — | -0.46 | -0.42 | -0.38 | -0.39 | -0.43 | -0.58 | -0.3 | -0.28 | -0.26 | -0.24 |
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 | — | — | — | — | — | — | 148.5M | 131.9M |
| Enterprise value | — | — | — | — | — | — | 36.4M | 46.2M |
| Shares outstanding | 27.7M | 27.7M | 31.7M | 60.8M | 73.8M | 90.3M | 93.4M | 93.4M |
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| P/E | — | — | — | — | — | — | — | -0.78 |
| P/S | — | — | — | — | — | — | 13.3 | 13.1 |
| P/B | — | — | — | — | — | — | 1.22 | 1.33 |
| EV/EBITDA | — | — | — | — | — | — | -0.33 | -0.44 |
| EV/Sales | — | — | — | — | — | — | 3.26 | 4.61 |
| Earnings yield | — | — | — | — | — | — | — | -128.1% |
| FCF yield | — | — | — | — | — | — | -75.7% | -45.2% |
| PEG | — | — | — | — | — | — | — | 0.01 |
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| Operating margin | -592.7% | -292.2% | -697.8% | -768.2% | -336.6% | -1.7K% | -1.2K% | -1.7K% |
| Net margin | -404.8% | -277.6% | -697.3% | -717.8% | -296.1% | -1.5K% | -1.3K% | 0% |
| ROE | -314% | 146.4% | -17.3% | -33% | -27.7% | -58.9% | -121.2% | -78.3% |
| ROA | -37.8% | -95.2% | -15.1% | -26.6% | -23.6% | -47.6% | -84.5% | -36.8% |
| ROIC | 82.7% | 95.5% | -558.5% | -131.4% | -174% | -238.4% | -1.4K% | -1.4K% |
| Return on tangible assets | -37.8% | -95.2% | -15.1% | -26.6% | -23.6% | -47.6% | -84.5% | -72.4% |
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| Current ratio | 5.66 | 1.96 | 15.1 | 9.25 | 12 | 7.16 | 5.71 | 6.49 |
| Quick ratio | 5.66 | 1.96 | 15.1 | 9.25 | 12 | 7.16 | 5.71 | 6.49 |
| Debt / equity | 0.07 | -0.07 | 0 | 0.09 | 0.07 | 0.1 | 0.22 | 0.27 |
| Debt / assets | 0.01 | 0.04 | 0 | 0.07 | 0.06 | 0.08 | 0.16 | 0.19 |
| Net debt / EBITDA | 1.51 | 0.42 | 5.56 | 2.1 | 2.68 | 1.13 | 1.01 | 0.8 |
| Interest coverage | -7.7K | -1.8K | -8.4K | — | — | — | — | — |
| Effective tax rate | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| Revenue per share | 0.21 | 0.45 | 0.3 | 0.23 | 0.47 | 0.11 | 0.12 | 0.1 |
| EPS (basic) | -0.85 | -1.24 | -2.11 | -1.64 | -1.38 | -1.65 | -1.59 | -1.59 |
| EPS (diluted) | -0.85 | -1.24 | -2.11 | -1.64 | -1.38 | -1.65 | -1.59 | -1.08 |
| Book value per share | 0.27 | -0.85 | 12.2 | 4.95 | 4.99 | 2.8 | 1.31 | 0.93 |
| FCF per share | -1.19 | -1.25 | -1.13 | -1.61 | -1.42 | -1.6 | -1.2 | -0.95 |
| Cash per share | 1.79 | 0.58 | 11.9 | 4.07 | 4.46 | 2.32 | 1.49 | 1.05 |
| Capex per share | 0.03 | 0.01 | 0.07 | 0.11 | 0.16 | 0.05 | — | — |
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| Capex / revenue | 15.3% | 2.48% | 22.1% | 46.6% | 33.7% | 48.7% | — | — |
| Capex / operating cash flow | -3.04% | -0.84% | -6.79% | -7.07% | -12.1% | -3.6% | — | — |
| Payout ratio | — | — | — | — | — | — | — | 0% |
| — |
| — |
| $9.6M |
| — |
| FY20 | — | -$1.24 | — | — | $12.4M | — |
| FY19 | — | -$0.85 | — | — | $5.8M | — |
| Q1 24 |
|---|
| Q2 24 |
|---|
| Q3 24 |
|---|
| Q4 24 |
|---|
| Q1 25 |
|---|
| Q2 25 |
|---|
| Q3 25 |
|---|
| Q4 25 |
|---|
| Q1 26 |
|---|
| Q2 26 |
|---|
| Revenue | $23.7M | $3.6M | $2.4M | $3.5M | $2M | $2.1M | $2.4M | $2.7M | $2.2M | $3.9M | $2.4M | $1.5M |
| YoY change | +616.4% | -3.63% | -30.6% | -7.75% | -91.4% | -41.6% | -3.13% | -23% | +8.6% | +89.7% | +1.87% | -43.8% |
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 | 49.5M | 16M | 375.8M | 247.7M | 328.8M | 209.5M | 139.3M |
| Receivables | 5K | 150K | 1.2M | 202K | 148K | 265K | 69K |
| Inventory | — | — | — | — | — | — | — |
| Total current assets | 57M | 24.3M | 391.2M | 260.2M | 338.8M | 219.4M | 145.2M |
| Property, plant & equipment | 4.3M | 3.5M | 4.9M | 34.9M | 40.5M | 39.3M | 24.4M |
| Goodwill & intangibles | — | — | — | — | — | — | — |
| Total assets | 61.9M | 36M | 442.4M | 373.8M | 432.2M | 313.3M | 175.4M |
| Accounts payable | 2.5M | 2.6M | 4M | 1.1M | 3.1M | 2.5M | 5.8M |
| Short-term debt | 532K | 654K | — | 966K | 1.2M | 1.4M | 1.2M |
| Total current liabilities | 10.1M | 12.4M | 25.8M | 28.1M | 28.3M | 30.7M | 25.4M |
| Long-term debt | — | 924K | 0 | 26.8M | 25.9M | 25.1M | 26M |
| Total liabilities | 54.5M | 59.5M | 54.5M | 72.9M | 63.8M | 60.4M | 53.2M |
| Shareholders' equity | 7.5M | -23.4M | 387.8M | 300.9M | 368.4M | 253M | 122.2M |
| Total debt | 532K | 1.6M | 0 | 27.7M | 27.1M | 26.5M | 27.2M |
| Net debt | -40.5M | -14.4M | -240.4M | -30.6M | -24.1M | 10.2M | 14.9M |
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 | 338.5M | 328.8M | 294M | 261.6M | 228.2M | 209.5M | 208.5M | 183.9M | 147.3M | 139.3M | 117.6M | 112.3M |
| Receivables | 1.1M | 148K | 917K | 215K | 184K | 265K | 88K | 71K | 242K | 69K | 227K | 203K |
| Inventory | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current assets | 350.7M | 338.8M | 304.5M | 270.9M | 237.4M | 219.4M | 217.3M | 192.5M | 155.5M | 145.2M | 122.4M | 116.6M |
| Property, plant & equipment | 39.3M | 40.5M | 40.8M | 41M | 40.1M | 39.3M | 38M | 24.6M | 23.6M | 24.4M | 23.5M | 22.5M |
| Goodwill & intangibles | — | — | — | — | — | — | — | — | — | — | — | — |
| Total assets | 457.5M | 432.2M | 406.8M | 372.9M | 344.3M | 313.3M | 273.7M | 220.9M | 195M | 175.4M | 149M | 142.8M |
| Accounts payable | 2.4M | 3.1M | 5.9M | 3.2M | 2.7M | 2.5M | 3.9M | 3.2M | 3.8M | 5.8M | 3.5M | 3.1M |
| Short-term debt | 1.1M | 1.2M | 1.3M | 1.3M | 1.2M | 1.4M | 1.9M | 2.3M | 2.7M | 1.2M | 1.3M | 1.4M |
| Total current liabilities | 24.6M | 28.3M | 29M | 30.9M | 32.2M | 30.7M | 28.5M | 28.9M | 28.1M | 25.4M | 19.7M | 18M |
| Long-term debt | 26.3M | 25.9M | 25.9M | 25.5M | 25.5M | 25.1M | 24.3M | 23.6M | 22.8M | 26M | 25.7M | 25.3M |
| Total liabilities | 59.3M | 63.8M | 63.5M | 62.5M | 63.1M | 60.4M | 56.4M | 54.8M | 53.1M | 53.2M | 47M | 44.7M |
| Shareholders' equity | 398.3M | 368.4M | 343.3M | 310.5M | 281.2M | 253M | 217.2M | 166.1M | 141.8M | 122.2M | 102M | 98.1M |
| Total debt | 27.5M | 27.1M | 27.2M | 26.8M | 26.6M | 26.5M | 26.2M | 25.9M | 25.5M | 27.2M | 26.9M | 26.7M |
| Net debt | -76.6M | -24.1M | -22.2M | -11.1M | -5.3M | 10.2M | -3.2M | 650K | 14.3M | 14.9M | 14.9M | 461K |
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 | -23.4M | -34.3M | -66.9M | -99.4M | -102.1M | -149.1M | -148.1M |
| Depreciation & amortization | 751K | 900K | 984K | 1.6M | 3.5M | 3.9M | 3.6M |
| Stock-based compensation | 1.2M | 1M | 3.4M | 11.7M | 13.8M | 16.7M | 12.7M |
| Change in working capital | -7.6M | -2.5M | 28.8M | -5.2M | -14.8M | -6.8M | 2.2M |
| Operating cash flow | -29.1M | -36.7M | -31.2M | -91.3M | -96.3M | -135.3M | -111M |
| Capital expenditure | -884K | -307K | -2.1M | -6.5M | -11.6M | -4.9M | — |
| Investing cash flow | 27.2M | 7.4M | -175.4M | -92.6M | -68.2M | 88.2M | 103.6M |
| Dividends paid | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — |
| Financing cash flow | -45K | 1.5M | 430.9M | 0 | 152.7M | 15.2M | 4.1M |
| Net change in cash | -1.9M | -27.8M | 224.2M | -183.9M | -11.8M | -31.9M | -3.3M |
| Free cash flow | -32.9M | -34.5M | -35.6M | -98M | -104.9M | -144.7M | -112.4M |
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 | 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 | -10M | -34.5M | -41.2M | -37.7M | -34.7M | -35.5M | -40M | -54.1M | -27.5M | -26.5M | -25.1M | -24.3M |
| Depreciation & amortization | 1.6M | 740K | 710K | 856K | 1.2M | 1.2M | 1.2M | 1.2M | 631K | 682K | 649K | 625K |
| Stock-based compensation | 3.5M | 3.6M | 4M | 4.7M | 4.1M | 3.9M | 3.9M | 3.1M | 2.9M | 2.7M | 2.4M | 2.5M |
| Change in working capital | -23.8M | 1.2M | 2.1M | -2.7M | -4.1M | -2.1M | 1.1M | -474K | -759K | 2.3M | -2.8M | -1.2M |
| Operating cash flow | -28.1M | -26.8M | -32.7M | -37.6M | -32.8M | -32.2M | -33.7M | -28.3M | -25.2M | -20.8M | -27M | -22.8M |
| Capital expenditure | -4.8M | -2.3M | -1.4M | -2.2M | -2.3M | 1.1M | -1M | — | — | — | — | — |
| Investing cash flow | -68.5M | -31.5M | 24.5M | 21.3M | 24.9M | 17.6M | 49.4M | 24.5M | 11M | 17.8M | 24.1M | 18.9M |
| Dividends paid | — | — | — | — | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — | — | — | — | — |
| Financing cash flow | 134.4M | -113K | 11.3M | 669K | 244K | 3M | 0 | 468K | 277K | 3.3M | 2.2M | 18.4M |
| Net change in cash | 37.8M | -58.4M | 3.1M | -15.6M | -7.6M | -11.7M | 15.7M | -3.3M | -13.9M | 255K | -708K | 14.5M |
| Free cash flow | -33.5M | -23.7M | -40.2M | -35.2M | -33.3M | -36M | -37.8M | -28.7M | -25.3M | -20.6M | -27.1M | -22.8M |