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 | -$0.2 | -$0.19 | +5.0% | — | $0 | — |
| Q1 26 | -$0.18 | -$0.19 | -5.6% | — | $0 | — |
| Q4 25 | -$0.18 | -$0.17 | +5.6% | — | $0 | — |
| Q3 25 | -$0.16 | -$0.17 | -6.3% | — | $0 | — |
| Q2 25 | -$0.19 | -$0.18 | +5.3% | — | $0 | — |
| Q1 25 | -$0.18 | -$0.18 | 0.0% | — | $0 | — |
| Q4 24 | -$0.17 | -$0.18 | -5.9% | — | $0 | — |
| Q3 24 | -$0.15 | -$0.15 | 0.0% | — | $0 | — |
| Q2 24 | -$0.16 | -$0.13 | +18.8% | — | $0 | — |
| Q1 24 | -$0.16 | -$0.14 | +12.5% | — | $0 | — |
| Q4 23 | -$0.14 | -$0.14 | 0.0% | — | $0 | — |
| Q3 23 | -$0.13 | -$0.12 | +7.7% | — | $0 | — |
| Q2 23 | -$0.18 | -$0.16 | +11.1% | — | $0 | — |
| Q1 23 | -$0.16 | -$0.2 | -25.0% | — | $0 | — |
| Q4 22 | -$0.14 | -$0.14 | 0.0% | — | $0 | — |
| Q3 22 | -$0.15 | -$0.12 | +20.0% | — | $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 | — | -$0.7 | — | — | $0 | — |
| FY24 | — | -$0.6 | — | — | $0 | — |
| FY23 | — | -$0.6 | — | — | $0 | — |
| FY22 | — | -$0.52 | — | — | $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 | $0 | $0 | $500K | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| YoY change | 0% | 0% | +InfinityT% | -100% | 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.
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 | 0 | 0 | 500K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cost of revenue | — | — | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — | — | — | — |
| Research & development | 1.7M | 3.2M | 4.5M | 7.9M | 8.2M | 8.8M | 7.8M | 13.1M | 19.1M | 24.6M |
| Selling, general & administrative | 598K | 1.3M | 2.7M | 3.7M | 4.5M | 4.9M | 6.2M | 8.2M | 7.6M | 9.8M |
| Operating expenses | 2.3M | 4.3M | 6M | 10.7M | 12.5M | 13.6M | 14M | 21.3M | 26.7M | 34.4M |
| Operating income | -2.3M | -4.3M | -5.5M | -10.7M | -12.5M | -13.6M | -14M | -21.3M | -26.7M | -34.4M |
| Operating margin | — | — | -1.1K% | — | — | — | — | — | — | — |
| Non-operating income, net | 106K | 15K | -107K | 119K | 229K | 82K | 353K | 1.9M | 2.3M | 1.7M |
| Pretax income | -2.2M | -4.3M | -5.7M | -10.6M | -12.3M | -13.6M | -13.6M | -19.3M | -24.4M | -32.7M |
| Income tax | 0 | 0 | 80K | 31K | 27K | 28K | 28K | 43K | 30K | 28K |
| Net income | -2.2M | -4.3M | -5.7M | -10.6M | -12.3M | -13.6M | -13.7M | -19.4M | -24.4M | -32.8M |
| Net margin | — | — | -1.1K% | — | — | — | — | — | — | — |
| EBITDA | -2.5M | -4.3M | -5.5M | -10.7M | -12.5M | -13.6M | -14M | -21.2M | -26.6M | -34.4M |
| EPS | -0.47 | -0.72 | -0.74 | -0.89 | -0.78 | -0.65 | -0.52 | -0.6 | -0.6 | -0.7 |
| Diluted EPS | -0.47 | -0.72 | -0.74 | -0.89 | -0.78 | -0.65 | -0.52 | -0.6 | -0.6 | -0.7 |
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 | 3.3M | 3.7M | 3.7M | 3.9M | 5M | 6.5M | 5.7M | 5.8M | 6.4M | 6.7M | 8M | 8.2M |
| Selling, general & administrative | 1.9M | 2.2M | 2.1M | 1.7M | 1.9M | 1.9M | 2.5M | 2.2M | 2.6M | 2.5M | 2.5M | 2.3M |
| Operating expenses | 5.2M | 5.8M | 5.7M | 5.6M | 6.9M | 8.4M | 8.1M | 8M | 9M | 9.2M | 10.5M | 10.5M |
| Operating income | -5.2M | -5.8M | -5.7M | -5.6M | -6.9M | -8.4M | -8.1M | -8M | -9M | -9.2M | -10.5M | -10.5M |
| Operating margin | — | — | — | — | — | — | — | — | — | — | — | — |
| Non-operating income, net | 693K | 709K | 597K | 526K | 616K | 528K | 443K | 314K | 419K | 483K | 447K | 366K |
| Pretax income | -4.5M | -5.1M | -5.1M | -5.1M | -6.3M | -7.9M | -7.7M | -7.7M | -8.6M | -8.7M | -10M | -10.1M |
| Income tax | 7K | 22K | 7K | 7K | 7K | 9K | 6K | 6K | 6K | 10K | 7K | 7K |
| Net income | -4.5M | -5.2M | -5.2M | -5.1M | -6.3M | -7.9M | -7.7M | -7.7M | -8.6M | -8.7M | -10M | -10.1M |
| Net margin | — | — | — | — | — | — | — | — | — | — | — | — |
| EBITDA | -5.1M | -5.8M | -5.7M | -5.6M | -6.9M | -8.4M | -8.1M | -8M | -9M | -9.2M | -10.5M | -10.5M |
| EPS | -0.12 | — | -0.14 | -0.13 | -0.15 | — | -0.18 | -0.18 | -0.17 | — | -0.19 | -0.19 |
| Diluted EPS | -0.12 | — | -0.14 | -0.13 | -0.15 | — | -0.18 | -0.18 | -0.17 | — | -0.19 | -0.19 |
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 | — | — | — | — | — | — | — | — | — | — | 448.7M |
| Enterprise value | — | — | — | — | — | — | — | — | — | — | 384.9M |
| Shares outstanding | 4.7M | 5.9M | 7.7M | 12M | 15.7M | 20.8M | 26.4M | 32.6M | 40.4M | 47M | 47M |
| Metric | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E | — | — | — | — | — | — | — | — | — | — | -11.9 |
| P/B | — | — | — | — | — | — | — | — | — | — | 11.6 |
| EV/EBITDA | — | — | — | — | — | — | — | — | — | — | -9.82 |
| Earnings yield | — | — | — | — | — | — | — | — | — | — | -8.4% |
| FCF yield | — | — | — | — | — | — | — | — | — | — | -3.93% |
| PEG | — | — | — | — | — | — | — | — | — | — | -2.14 |
| Metric | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating margin | — | — | -1.1K% | — | — | — | — | — | — | — | 0% |
| Net margin | — | — | -1.1K% | — | — | — | — | — | — | — | 0% |
| ROE | -199.8% | -533.2% | -33.7% | -139.8% | -47.3% | -30.9% | -43% | -38% | -60% | -58.4% | -114.6% |
| ROA | -118.4% | -236.4% | -31.3% | -117.6% | -43.8% | -29.8% | -39.8% | -35.8% | -52.7% | -53.4% | -64.1% |
| ROIC | 372.2% | 771.7% | -2.5K% | 12.9K% | 908.7% | 1.3K% | 1.2K% | 1.5K% | 863.7% | 971.9% | 787.5% |
| Return on tangible assets | -118.4% | -236.4% | -31.3% | -117.6% | -43.8% | -29.8% | -39.8% | -35.8% | -52.7% | -53.4% | -83.4% |
| Metric | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current ratio | 2.43 | 1.49 | 13.9 | 6.7 | 13.8 | 29.8 | 15.6 | 19.3 | 8.28 | 11.8 | 6.72 |
| Quick ratio | 2.43 | 1.49 | 13.9 | 6.7 | 13.8 | 29.8 | 15.6 | 19.3 | 8.28 | 11.8 | 6.72 |
| Debt / equity | — | 0 | 0 | 0.02 | 0 | 0 | 0.01 | 0.01 | 0.01 | 0 | 0 |
| Debt / assets | — | 0 | 0 | 0.02 | 0 | 0 | 0.01 | 0.01 | 0.01 | 0 | 0 |
| Net debt / EBITDA | — | 0.32 | 3.06 | 0.72 | 2.2 | 3.31 | 2.36 | 2.47 | 1.64 | 1.74 | 1.11 |
| Interest coverage | -48.1 | — | — | — | — | — | — | — | — | — | — |
| Effective tax rate | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Metric | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue per share | 0 | 0 | 0.06 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (basic) | -0.47 | -0.72 | -0.74 | -0.89 | -0.78 | -0.65 | -0.52 | -0.6 | -0.6 | -0.7 | -0.7 |
| EPS (diluted) | -0.47 | -0.72 | -0.74 | -0.89 | -0.78 | -0.65 | -0.52 | -0.6 | -0.6 | -0.7 | -0.72 |
| Book value per share | 0.23 | 0.13 | 2.2 | 0.64 | 1.66 | 2.12 | 1.2 | 1.57 | 1.01 | 1.19 | 0.71 |
| FCF per share | -0.63 | -0.66 | -0.74 | -0.76 | -0.59 | -0.59 | -0.44 | -0.58 | -0.55 | -0.62 | -0.59 |
| Cash per share | 0.37 | 0.23 | 2.17 | 0.66 | 1.75 | 2.17 | 1.27 | 1.62 | 1.09 | 1.27 | 0.81 |
| Capex per share | 0 | 0 | 0.01 | 0 | 0 | 0 | 0 | 0 | 0 | — | — |
| Metric | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Capex / revenue | — | — | 10% | — | — | — | — | — | — | — | — |
| Capex / operating cash flow | -0.26% | -0.59% | -0.86% | -0.11% | -0.35% | -0.16% | -0.69% | -0.14% | -0.11% | — | — |
| Payout ratio | — | — | — | — | — | — | — | — | — | — | 0% |
| FY21 | — | -$0.65 | — | — | $0 | — |
| FY20 | — | -$0.78 | — | — | $0 | — |
| FY19 | — | -$0.89 | — | — | $0 | — |
| FY18 | — | -$0.74 | — | — | $500K | — |
| FY17 | — | -$0.72 | — | — | $0 | — |
| FY16 | — | -$0.47 | — | — | $0 | — |
| 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 | 1.7M | 1.4M | 16.8M | 7.9M | 27.5M | 45.1M | 33.5M | 52.9M | 44.1M | 59.9M |
| Receivables | 0 | 80K | 24K | 17K | 17K | 0 | 2K | 71K | 1K | 8K |
| Inventory | — | — | — | — | — | — | — | — | — | — |
| Total current assets | 1.9M | 1.5M | 18M | 8.8M | 27.9M | 45.4M | 33.8M | 53.7M | 44.6M | 60.6M |
| Property, plant & equipment | 19K | 37K | 96K | 217K | 174K | 112K | 136K | 131K | 148K | 145K |
| Goodwill & intangibles | — | — | — | — | — | — | — | — | — | — |
| Total assets | 1.9M | 1.8M | 18.3M | 9.1M | 28.1M | 45.6M | 34.4M | 54.2M | 46.3M | 61.4M |
| Accounts payable | 250K | 513K | 483K | 182K | 1.1M | 509K | 734K | 926K | 940K | 1.5M |
| Short-term debt | — | — | 5K | 60K | 65K | 49K | 69K | 83K | 103K | 112K |
| Total current liabilities | 764K | 1M | 1.3M | 1.3M | 2M | 1.5M | 2.2M | 2.8M | 5.4M | 5.1M |
| Long-term debt | — | 0 | 18K | 118K | 53K | 3K | 400K | 317K | 237K | 128K |
| Total liabilities | 764K | 1M | 1.3M | 1.4M | 2.1M | 1.5M | 2.6M | 3.1M | 5.6M | 5.3M |
| Shareholders' equity | 1.1M | 799K | 17M | 7.6M | 26M | 44M | 31.8M | 51.1M | 40.7M | 56.1M |
| Total debt | — | 0 | 23K | 178K | 118K | 52K | 469K | 400K | 340K | 240K |
| Net debt | — | -1.4M | -16.8M | -3.7M | -7.3M | -4.7M | -4.3M | -4.1M | -2.7M | -15.4M |
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 | — | 52.9M | 46.5M | 54.1M | 50.2M | 44.1M | — | 30M | 55.3M | 59.9M | 51.3M | 43.5M |
| Receivables | — | 71K | 8K | 4K | 2K | 1K | — | 19K | 32K | 8K | 16K | 8K |
| Inventory | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current assets | — | 53.7M | 47.5M | 55M | 50.8M | 44.6M | — | 31.1M | 56.2M | 60.6M | 52.4M | 44.3M |
| Property, plant & equipment | — | 131K | 132K | 152K | 151K | 148K | — | 152K | 150K | 145K | 142K | 133K |
| Goodwill & intangibles | — | — | — | — | — | — | — | — | — | — | — | — |
| Total assets | — | 54.2M | 49.3M | 56.8M | 52.5M | 46.3M | — | 31.5M | 57M | 61.4M | 53.1M | 45M |
| Accounts payable | — | 926K | 716K | 759K | 1.2M | 940K | — | 1.3M | 1.9M | 1.5M | 3.3M | 2.8M |
| Short-term debt | — | 83K | 86K | 100K | 102K | 103K | — | 108K | 109K | 112K | 115K | 116K |
| Total current liabilities | — | 2.8M | 2.6M | 3.1M | 4.3M | 5.4M | — | 4.1M | 5.3M | 5.1M | 5.7M | 6.6M |
| Long-term debt | — | 317K | 294K | 288K | 263K | 237K | — | 184K | 157K | 128K | 97K | 69K |
| Total liabilities | — | 3.1M | 2.9M | 3.4M | 4.6M | 5.6M | — | 4.3M | 5.4M | 5.3M | 5.8M | 6.7M |
| Shareholders' equity | — | 51.1M | 46.3M | 53.4M | 48M | 40.7M | — | 27.2M | 51.6M | 56.1M | 47.2M | 38.3M |
| Total debt | — | 400K | 380K | 388K | 365K | 340K | — | 292K | 266K | 240K | 212K | 185K |
| Net debt | — | -4.1M | -1.7M | -13.7M | -3.8M | -2.7M | — | -3.8M | -3.1M | -15.4M | -4.7M | -4.9M |
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 | -2.2M | -4.3M | -5.7M | -10.6M | -12.3M | -13.6M | -13.7M | -19.4M | -24.4M | -32.8M |
| Depreciation & amortization | 2K | 4K | 15K | 21K | 21K | 24K | 25K | 30K | 39K | 43K |
| Stock-based compensation | 217K | 409K | 620K | 1.2M | 1.8M | 1.6M | 1.5M | 1.7M | 2.1M | 3.8M |
| Change in working capital | -765K | 221K | -730K | -344K | 1.4M | -380K | 273K | -95K | 147K | 513K |
| Operating cash flow | -2.7M | -3.7M | -5.8M | -9.8M | -9M | -12.3M | -11.8M | -17.7M | -22.1M | -29.1M |
| Capital expenditure | -7K | -22K | -50K | 11K | -31K | -20K | -81K | -24K | -25K | — |
| Investing cash flow | -7K | -22K | -50K | -3.9M | -16.1M | -20.5M | 11.5M | -18.3M | 8.6M | -2.2M |
| Dividends paid | — | — | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — | — | — |
| Financing cash flow | 4.1M | 2.9M | 20.6M | -5K | 28.8M | 29.8M | -6K | 36.8M | 11.7M | 42.9M |
| Net change in cash | 1.4M | -824.6K | 14.7M | -13.7M | 3.7M | -3M | -280K | 850K | -1.8M | 11.7M |
| Free cash flow | -3M | -3.9M | -5.7M | -9.1M | -9.2M | -12.3M | -11.6M | -18.8M | -22.1M | -29.1M |
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 | 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 | -4.5M | -5.2M | -5.2M | -5.1M | -6.3M | -7.9M | -7.7M | -7.7M | -8.6M | -8.7M | -10M | -10.1M |
| Depreciation & amortization | 8K | 8K | 8K | 10K | 10K | 11K | 11K | 3K | 18K | 11K | 11K | 12K |
| Stock-based compensation | 425K | 456K | 488K | 443K | 565K | 589K | 867K | 771K | 1M | 1.2M | 822K | 1.1M |
| Change in working capital | -115K | 4K | -240K | 51K | 513K | -177K | 550K | -154K | 560K | -443K | 1.8M | -424K |
| Operating cash flow | -4.1M | -4.7M | -4.9M | -4.6M | -5.2M | -7.5M | -6.3M | -7.6M | -6.5M | -7.8M | -9.1M | -8.1M |
| Capital expenditure | -10K | -3K | -9K | 0 | -9K | -7K | -12K | — | — | — | — | — |
| Investing cash flow | 1.2M | 6.1M | 4.2M | 4.7M | -5.6M | 5.2M | 6.6M | 9M | -25.8M | 8M | -2.1M | 8.2M |
| Dividends paid | — | — | — | — | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — | — | — | — | — |
| Financing cash flow | -6K | -1K | -1K | -2K | -3K | -3K | -3K | -2K | 31.5M | 11.8M | -3K | -3K |
| Net change in cash | -2.9M | 1.4M | -670K | 138K | -10.8M | -2.3M | 360K | 1.4M | -776K | 12M | -11.2M | 129K |
| Free cash flow | -4.8M | -3.8M | -6.7M | -4.5M | -4.5M | -6.4M | -7.2M | -7.6M | -6.6M | -7.8M | -9.1M | -8.1M |