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 | -$1.47 | -$1.14 | +22.4% | — | $2.6B | — |
| Q4 25 | -$0.68 | -$0.89 | -30.9% | — | $1.6B | — |
| Q3 25 | -$0.48 | -$0.22 | +54.2% | — | $1.4B | — |
| Q2 25 | -$0.49 | -$0.6 | -22.4% | — | $1.2B | — |
| Q1 25 | -$0.22 | -$1.4 | -536.4% | — | $981.6M | — |
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 | — | -$2.75 | — | — | $5.1B | — |
| FY24 | — | -$2.33 | — | — | $1.9B | — |
| FY23 | — | -$1.47 | — | — | $228.9M | — |
| FY22 | — | -$0.08 | — | — | $15.8M | — |
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 | $15.8M | $228.9M | $1.9B | $5.1B |
| YoY change | — | +1.3K% | +736.6% | +167.9% |
Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.
| Period | Q4 23 | Q1 24 | Q3 24 | Q4 24 | Q1 25 | Q2 25 | Q3 25 | Q4 25 | Q1 26 | Q2 26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $116M | $188.7M |
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 | 15.8M | 228.9M | 1.9B | 5.1B |
| Cost of revenue | 12.1M | 68.8M | 493.4M | 1.5B |
| Gross profit | 3.7M | 160.2M | 1.4B | 3.7B |
| Gross margin | 23.4% | 70% | 74.2% | 71.7% |
| Research & development | — | — | — | — |
| Selling, general & administrative | 8.5M | 42.8M | 137M | 795M |
| Operating expenses | 26.6M | 174.6M | 1.1B | 3.7B |
| Operating income | -22.9M | -14.5M | 324.4M | -46M |
| Operating margin | -144.5% | -6.31% | 16.9% | -0.9% |
| Non-operating income, net | -2.7M | -515.2M | -707.7M | 60M |
| Pretax income | -35M | -558M | -744.2M | -1.2B |
| Income tax | -4.2M | 35.7M | 119.2M | -48M |
| Net income | -31.1M | -593.7M | -863.4M | -1.2B |
| Net margin | -196.2% | -259.3% | -45.1% | -22.7% |
| EBITDA | -11M | 107.5M | 1.2B | 2.4B |
| EPS | -0.08 | -1.47 | -2.33 | -2.75 |
| Diluted EPS | -0.08 | -1.47 | -2.33 | -2.81 |
Revenue, gross profit, operating income, and net income per period.
Click a row to chart it; unreported figures show a dash.
| Period | Q4 23 | Q1 24 | Q3 24 | Q4 24 | Q1 25 | Q2 25 | Q3 25 | Q4 25 | Q1 26 | Q2 26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 116M | 188.7M | 583.9M | 747.4M | 981.6M | 1.2B | 1.4B | 1.6B | 2.1B | 2.6B |
| Cost of revenue | 34.8M | 59.2M | 143.1M | 182.2M | 262.4M | 312.7M | 368.8M | 509.1M | 716M | 879M |
| Gross profit | 81.1M | 129.5M | 440.8M | 565.3M | 719.2M | 900.1M | 995.9M | 1.1B | 1.4B | 1.7B |
| Gross margin | 70% | 68.6% | 75.5% | 75.6% | 73.3% | 74.2% | 73% | 67.6% | 65.5% | 65.9% |
| Research & development | — | — | — | — | — | — | — | — | — | — |
| Selling, general & administrative | 17M | 19.7M | 38.2M | 53.2M | 185.3M | 211M | 196.5M | 202.2M | 233M | 238M |
| Operating expenses | 83M | 112.6M | 323.7M | 452.6M | 746.7M | 880.9M | 944M | 1.2B | 1.5B | 1.7B |
| Operating income | -1.8M | 16.8M | 117.1M | 112.7M | -27.5M | 19.2M | 51.9M | -89.6M | -144M | -49M |
| Operating margin | -1.57% | 8.93% | 20.1% | 15.1% | -2.8% | 1.58% | 3.8% | -5.7% | -6.93% | -1.9% |
| Non-operating income, net | -136.5M | -90M | -330.9M | 7M | 22.7M | 5M | 21.9M | 10.4M | 24M | 125M |
| Pretax income | -154.4M | -113.8M | -318.1M | -29.3M | -268.6M | -242.7M | -236.8M | -466.9M | -656M | -564M |
| Income tax | 16.2M | 15.4M | 41.7M | 22M | 46M | 47.8M | -126.7M | -15.1M | 84M | 62M |
| Net income | -170.6M | -129.2M | -359.8M | -51.4M | -314.6M | -290.5M | -110.1M | -451.7M | -740M | -626M |
| Net margin | -147.1% | -68.5% | -61.6% | -6.87% | -32.1% | -24% | -8.07% | -28.7% | -35.6% | -24.3% |
| EBITDA | 58.5M | 103.8M | 381.4M | 492.2M | 411.9M | 584.2M | 704.2M | 741.2M | 1B | 1.5B |
| EPS | — | -0.32 | — | — | -1.4 | -0.6 | -0.22 | -0.89 | -1.4 | -1.14 |
| Diluted EPS | — | -0.32 | — | — | -1.49 | -0.6 | -0.22 | -0.89 | -1.4 | -1.14 |
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 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|
| Market cap | — | — | — | 31.2B | 46.9B |
| Enterprise value | — | — | — | 57.8B | 94.4B |
| Shares outstanding | 404.4M | 403.7M | 403.7M | 435M | 435M |
| Metric | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|
| P/E | — | — | — | — | -30.9 |
| P/S | — | — | — | 6.07 | 6.36 |
| P/B | — | — | — | 9.34 | 9.61 |
| EV/EBITDA | — | — | — | 23.7 | 24.9 |
| EV/Sales | — | — | — | 11.3 | 12.4 |
| Earnings yield | — | — | — | — | -3.23% |
| FCF yield | — | — | — | -23.3% | -19.4% |
| PEG | — | — | — | — | -0.34 |
| Metric | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|
| Gross margin | 23.4% | 70% | 74.2% | 71.7% | 65.9% |
| Operating margin | -144.5% | -6.31% | 16.9% | -0.9% | -1.9% |
| Net margin | -196.2% | -259.3% | -45.1% | -22.7% | -25.4% |
| ROE | — | 99.5% | 208.8% | -35% | -43.6% |
| ROA | — | -11.9% | -4.84% | -2.37% | -0.24% |
| ROIC | — | -1.22% | 3.67% | -0.15% | -0.45% |
| Return on tangible assets | — | -12.1% | -4.86% | -2.5% | -2.59% |
| Metric | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|
| Current ratio | — | 0.5 | 0.39 | 0.46 | 0.46 |
| Quick ratio | — | 0.5 | 0.39 | 0.46 | 0.46 |
| Debt / equity | — | -3.35 | -25.7 | 8.94 | 10.3 |
| Debt / assets | — | 0.4 | 0.6 | 0.6 | 0.67 |
| Net debt / EBITDA | — | 16.6 | 7.49 | 10.9 | 11.7 |
| Interest coverage | -2.71 | -18.6 | -1.06 | 0.01 | -0.03 |
| Effective tax rate | 0% | 0% | 0% | 0% | 0% |
| Metric | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|
| Revenue per share | 0.04 | 0.57 | 4.74 | 11.8 | 14.6 |
| EPS (basic) | -0.08 | -1.47 | -2.33 | -2.75 | -2.75 |
| EPS (diluted) | -0.08 | -1.47 | -2.33 | -2.81 | -3.55 |
| Book value per share | — | -1.48 | -1.02 | 7.67 | 9.12 |
| FCF per share | -0.18 | -2.75 | -14.7 | -16.7 | -24.8 |
| Cash per share | — | 0.54 | 3.37 | 7.27 | 10 |
| Capex per share | 0.18 | 7.29 | 21.6 | — | — |
| Metric | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|
| Capex / revenue | 457.4% | 1.3K% | 454.3% | — | — |
| Capex / operating cash flow | -952.9% | 219% | 580.1% | — | — |
| Payout ratio | — | — | -6.69% | -2.49% | 0% |
| Dividend yield | — | — | — | 0.09% | 0.09% |
| $583.9M |
| $747.4M |
| $981.6M |
| $1.2B |
| $1.4B |
| $1.6B |
| $2.1B |
| $2.6B |
| YoY change | — | — | — | +544.4% | +420.3% | — | +133.7% | +110.3% | +111.7% | +112.3% |
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 | FY23 | FY24 | FY25 |
|---|---|---|---|
| Cash & short-term investments | 219.5M | 1.4B | 3.2B |
| Receivables | 165.4M | 416.5M | 3.2B |
| Inventory | — | — | — |
| Total current assets | 502M | 1.9B | 7.5B |
| Property, plant & equipment | 3.9B | 14.5B | 38.8B |
| Goodwill & intangibles | 53.1M | 48.9M | 2.7B |
| Total assets | 5B | 17.8B | 49.3B |
| Accounts payable | 455.6M | 868.3M | 1.6B |
| Short-term debt | 215.2M | 2.7B | 7.2B |
| Total current liabilities | 998.5M | 5B | 16.4B |
| Long-term debt | 1.8B | 7.9B | 22.6B |
| Total liabilities | 5.6B | 18.2B | 46B |
| Shareholders' equity | -596.6M | -413.6M | 3.3B |
| Total debt | 2B | 10.6B | 29.8B |
| Net debt | 1.8B | 9.3B | 26.7B |
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 | Q3 24 | Q4 24 | Q1 25 | Q2 25 | Q3 25 | Q4 25 | Q1 26 | Q2 26 |
|---|---|---|---|---|---|---|---|---|---|
| Cash & short-term investments | 219.5M | 1.4B | 1.4B | 1.3B | 1.2B | 1.9B | 3.2B | 2.3B | 5.5B |
| Receivables | 165.4M | 498.1M | 416.5M | 1.1B | 1.9B | 1.7B | 3.2B | 2.1B | 2.5B |
| Inventory | — | — | — | — | — | — | — | — | — |
| Total current assets | 502M | 2.1B | 1.9B | 3.1B | 3.9B | 4.7B | 7.5B | 5.6B | 9.5B |
| Property, plant & equipment | 3.9B | 10.9B | 14.5B | 17.3B | 20B | 25.3B | 38.8B | 46.6B | 63.3B |
| Goodwill & intangibles | 53.1M | 49.9M | 48.9M | 47.9M | 2B | 2.1B | 2.7B | 2.6B | 2.7B |
| Total assets | 5B | 14.1B | 17.8B | 21.9B | 26.2B | 32.9B | 49.3B | 55.6B | 77.1B |
| Accounts payable | 455.6M | 1B | 868.3M | 1.2B | 1.2B | 1.2B | 1.6B | 3.4B | 3.6B |
| Short-term debt | 215.2M | 1.2B | 2.7B | 4.1B | 4B | 4.1B | 7.2B | 8.1B | 8.1B |
| Total current liabilities | 998.5M | 4B | 5B | 7.1B | 7.6B | 9.7B | 16.4B | 17.8B | 20.9B |
| Long-term debt | 1.8B | 5.1B | 7.9B | 7.8B | 10.6B | 14.7B | 22.6B | 27.1B | 43.5B |
| Total liabilities | 5.6B | 14.5B | 18.2B | 18.8B | 22.4B | 29B | 46B | 50.8B | 72B |
| Shareholders' equity | -596.6M | -344M | -413.6M | 3.1B | 3.8B | 3.9B | 3.3B | 4.8B | 5B |
| Total debt | 2B | 6.3B | 10.6B | 11.9B | 14.6B | 18.8B | 29.8B | 35.1B | 51.6B |
| Net debt | 1.8B | 4.9B | 9.3B | 10.6B | 13.4B | 16.9B | 26.7B | 32.9B | 46.1B |
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 | -30.9M | -593.7M | -863.4M | -1.2B |
| Depreciation & amortization | 11.7M | 103.2M | 863.4M | 2.5B |
| Stock-based compensation | 1.5M | 15.2M | 31.5M | 630M |
| Change in working capital | 7.5M | 1.7B | 1.2B | 1.2B |
| Operating cash flow | -7.6M | 1.3B | 1.5B | 3.1B |
| Capital expenditure | -72.4M | -2.9B | -8.7B | — |
| Investing cash flow | -80.3M | -3.1B | -8.7B | 38M |
| Dividends paid | — | — | -57.7M | -29M |
| Share repurchases | 0 | -32.1M | -1.5M | — |
| Financing cash flow | 81.5M | 1.8B | 7.5B | 9.3B |
| Net change in cash | -6.4M | -17.8M | 303.9M | 12.4B |
| Free cash flow | -71.5M | -1.1B | -6B | -7.3B |
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 | Q4 23 | Q1 24 | Q3 24 | Q4 24 | Q1 25 | Q2 25 | Q3 25 | Q4 25 | Q1 26 | Q2 26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net income | -170.6M | -129.2M | -359.8M | -51.4M | -314.6M | -290.1M | -110.3M | -451.7M | -740M | -626M |
| Depreciation & amortization | 53.3M | 79.5M | 254M | 365.4M | 443.5M | 560M | 630.5M | 820.5M | 1.1B | 1.4B |
| Stock-based compensation | 8.1M | 8.2M | 7.6M | 8M | 184M | 145M | 144.4M | 156.6M | 153M | 165M |
| Change in working capital | 2.2M | 1.4B | 717.4M | -430.4M | -449.1M | -372.9M | 445.8M | 1.2B | 1.5B | 263M |
| Operating cash flow | -75.1M | 1.4B | 706.1M | -19.9M | 35.6M | -251.1M | 1.7B | 1.6B | 3B | 679M |
| Capital expenditure | -1.2B | -1.7B | -1.2B | -3.5B | -1.4B | — | — | — | — | — |
| Investing cash flow | -1.3B | -1.8B | -1.2B | -3.5B | -1.4B | 56.8M | -81.1M | 134.1M | -13M | -56M |
| Dividends paid | — | 0 | -29.3M | -28.4M | -26.1M | -2.7M | 307K | -307K | 0 | 0 |
| Share repurchases | -32.1M | — | — | 0 | — | — | — | — | — | — |
| Financing cash flow | 1.2B | 919.5M | 1.2B | 3.4B | 1.9B | 2.2B | 1.7B | 3.5B | 3.9B | 10.1B |
| Net change in cash | -115.5M | 551.2M | 747.8M | -94.4M | 453.6M | 2B | 3.3B | 5.2B | 6.9B | 10.7B |
| Free cash flow | -1.1B | 297.1M | -573.9M | -3.3B | -1.3B | -2.7B | -700.2M | -2.5B | -4.7B | -5.7B |