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 | -$0.91 | -$0.9 | +1.1% | — | $761K | — |
| Q1 26 | -$1.1 | -$0.85 | +22.7% | — | $463K | — |
| Q4 25 | -$1.03 | -$1.43 | -38.8% | — | $284K | — |
| Q3 25 | -$0.9 | -$0.97 | -7.8% | — | $396K | — |
| Q2 25 | -$0.87 | -$0.88 | -1.1% | — | $193K | — |
| Q1 25 | -$0.71 | -$0.82 | -15.5% | — | $1.2M | — |
| Q4 24 | -$0.76 | -$0.7 | +7.9% | — | $1.3M | — |
| Q3 24 | -$0.6 | -$0.74 | -23.3% | — | $2.2M | — |
| Q2 24 | -$0.55 | -$0.51 | +7.3% | — | $1.9M | — |
| Q1 24 | -$0.44 | -$0.54 | -22.7% | — | $874K | — |
| Q4 23 | -$1.02 | -$0.71 | +30.4% | — | $457K | — |
| Q3 23 | -$0.56 | -$3.78 | -575.0% | — | $924K | — |
| Q4 22 | -$0.29 | -$0.34 | -17.2% | — | $1.2M | — |
| Q3 22 | -$0.3 | -$0.27 | +10.0% | — | $1.2M | — |
| Q2 22 | -$0.33 | -$0.29 | +12.1% | — | — | — |
| Q1 22 | -$0.31 | -$0.39 | -25.8% | — | — | — |
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 | — | -$4.2 | — | — | $2M | — |
| FY24 | — | -$2.55 | — | — | $6.2M | — |
| FY23 | — | -$8.45 | — | — | $2.8M | — |
| FY22 | — | -$1.92 | — | — | $6.4M | — |
| FY21 | — | -$0.88 | — | — |
Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.
| Period | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | $1.5M | $6.4M | $2.8M | $6.2M | $2M |
| YoY change | — | +334.8% | -56% | +120.6% | -67.3% |
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 | Q1 24 | Q2 24 | Q3 24 | Q4 24 | Q1 25 | Q2 25 | Q3 25 |
|---|
Revenue, gross profit, operating income, and net income per period.
Click a row to chart it; unreported figures show a dash.
| Period | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | 1.5M | 6.4M | 2.8M | 6.2M | 2M |
| Cost of revenue | — | — | — | — | — |
| Gross profit | — | — | — | — | — |
| Gross margin | — | — | — | — | — |
| Research & development | 12.6M | 29.4M | 32.8M | 83.1M | 145.6M |
| Selling, general & administrative | 2M | 6.7M | 18.2M | 25M | 34.3M |
| Operating expenses | 14.6M | 36.1M | 51M | 108.1M | 180M |
| Operating income | -13.1M | -29.7M | -48.2M | -101.9M | -177.9M |
| Operating margin | -886.6% | -462.9% | -1.7K% | -1.6K% | -8.7K% |
| Non-operating income, net | -26K | 84K | -145K | -470K | -523K |
| Pretax income | -13.1M | -28.5M | -43.6M | -85M | -162.3M |
| Income tax | — | — | — | — | — |
| Net income | -13.1M | -28.5M | -43.6M | -85M | -162.3M |
| Net margin | -888.1% | -443.8% | -1.5K% | -1.4K% | -8K% |
| EBITDA | -13.1M | -29.7M | -47.7M | -101.5M | -178M |
| EPS | -0.88 | -1.92 | -8.45 | -2.55 | -4.2 |
| Diluted EPS | -0.88 | -1.92 | -8.45 | -2.55 | -4.2 |
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 | 924K | 457K | 874K | 1.9M | 2.2M | 1.3M | 1.2M | 193K | 396K | 284K | 463K | 761K |
| Cost of revenue | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — | — | — | — | — | — |
| Research & development | 8M | 8.8M | 13.1M | 18.1M | 25.5M | 26.4M | 27M | 26.3M | 32.5M | 59.9M | 34.5M | 48.7M |
| Selling, general & administrative | 8.7M | 4.6M | 5.6M | 6M | 6.5M | 6.8M | 7.3M | 8.9M | 8.2M | 9.9M | 12.5M | 13.6M |
| Operating expenses | 16.7M | 13.4M | 18.7M | 24.1M | 32.1M | 33.2M | 34.3M | 35.1M | 40.7M | 69.8M | 47M | 62.2M |
| Operating income | -15.8M | -13M | -17.8M | -22.2M | -29.9M | -31.9M | -33.2M | -34.9M | -40.3M | -69.5M | -46.5M | -61.5M |
| Operating margin | -1.7K% | -2.8K% | -2K% | -1.2K% | -1.4K% | -2.4K% | -2.9K% | -18.1K% | -10.2K% | -24.5K% | -10.1K% | -8.1K% |
| Non-operating income, net | -31K | -51K | -126K | -111K | 281K | -514K | -125K | -105K | -135K | -158K | -566K | -275K |
| Pretax income | -14.8M | -10.6M | -13.7M | -17.6M | -25.2M | -28.4M | -29.5M | -31.6M | -36.8M | -64.4M | -40.8M | -50.2M |
| Income tax | — | — | — | — | — | — | — | — | — | — | — | — |
| Net income | -14.8M | -10.6M | -13.7M | -17.6M | -25.2M | -28.4M | -29.5M | -31.6M | -36.8M | -64.4M | -40.8M | -50.2M |
| Net margin | -1.6K% | -2.3K% | -1.6K% | -945.1% | -1.2K% | -2.1K% | -2.5K% | -16.4K% | -9.3K% | -22.7K% | -8.8K% | -6.6K% |
| EBITDA | -15.7M | -12.8M | -17.7M | -22.1M | -30M | -31.7M | -33M | -34.8M | -40.4M | -69.7M | -46.1M | -61.5M |
| EPS | -3.78 | — | -0.54 | -0.51 | -0.74 | -0.81 | -0.82 | -0.88 | -0.97 | -1.43 | -0.85 | -0.9 |
| Diluted EPS | -3.78 | — | -0.54 | -0.51 | -0.74 | -0.81 | -0.82 | -0.88 | -0.97 | -1.43 | -0.85 | -0.9 |
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 | — | — | — | 1.1B | 94.8M | — | — | — | 4.8B |
| Enterprise value | — | — | — | 1B | 20.1M | — | — | — | 4B |
| Shares outstanding | — | — | — | 14.8M | 14.8M | 5.2M | 33.3M | 38.6M | 38.6M |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| P/E | — | — | — | — | — | — | — | — | 3.3 |
| P/S | — | — | — | 711.6 | 14.8 | — | — | — | 2.5K |
| P/B | — | — | — | -60.9 | 1.29 | — | — | — | 4.08 |
| EV/EBITDA | — | — | — | -79.8 | -0.68 | — | — | — | -18.3 |
| EV/Sales | — | — | — | 706.4 | 3.14 | — | — | — | 2.1K |
| Earnings yield | — | — | — | — | — | — | — | — | 30.3% |
| FCF yield | — | — | — | -0.95% | -30.8% | — | — | — | -1.94% |
| PEG | — | — | — | — | — | — | — | — | 1.45 |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Operating margin | — | — | — | -886.6% | -462.9% | -1.7K% | -1.6K% | -8.7K% | -8.1K% |
| Net margin | — | — | — | -888.1% | -443.8% | -1.5K% | -1.4K% | -8K% | 0% |
| ROE | — | — | — | 76% | -38.7% | -25.8% | -24.1% | -32.9% | -26.1% |
| ROA | — | — | — | -138.7% | -34.3% | -24.3% | -22.7% | -30.6% | -17.7% |
| Return on tangible assets | — | — | — | -138.7% | -34.3% | -24.3% | -22.7% | -30.6% | -15.8% |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Current ratio | — | — | — | 1.75 | 9.97 | 18.4 | 15.2 | 13.3 | 26.1 |
| Quick ratio | — | — | — | 1.75 | 9.97 | 18.4 | 15.2 | 13.3 | 26.1 |
| Debt / equity | — | — | — | 0 | 0.01 | 0 | 0 | 0 | 0 |
| Debt / assets | — | — | — | 0 | 0.01 | 0 | 0 | 0 | 0 |
| Net debt / EBITDA | — | — | — | 0.58 | 2.52 | 3.63 | 2.7 | 2.26 | 4.07 |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Revenue per share | — | — | — | 0.1 | 0.43 | 0.55 | 0.19 | 0.05 | 0.04 |
| EPS (basic) | — | — | — | -0.88 | -1.92 | -8.45 | -2.55 | -4.2 | -4.2 |
| EPS (diluted) | — | — | — | -0.88 | -1.92 | -8.45 | -2.55 | -4.2 | -4.21 |
| Book value per share | — | — | — | -1.16 | 4.97 | 32.8 | 10.6 | 12.8 | 21.4 |
| FCF per share | — | — | — | -0.67 | -1.97 | -7.17 | -2.35 | -3.35 | -2.78 |
| Cash per share | — | — | — | 0.52 | 5.09 | 33.7 | 8.26 | 10.5 | 15.9 |
| Capex per share | — | — | — | — | — | — | — | 0.01 | 0.01 |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Capex / revenue | — | — | — | — | — | — | — | 10.5% | 17.5% |
| Capex / operating cash flow | — | — | — | — | — | — | — | -0.17% | -0.21% |
| Payout ratio | — | — | — | — | — | — | — | — | 0% |
| $1.5M |
| — |
| Q4 25 |
|---|
| Q1 26 |
|---|
| Q2 26 |
|---|
| Revenue | $924K | $457K | $874K | $1.9M | $2.2M | $1.3M | $1.2M | $193K | $396K | $284K | $463K | $761K |
| YoY change | -21.2% | -61.1% | +83.6% | +92.3% | +135.1% | +190.2% | +33.1% | -89.6% | -81.8% | -78.6% | -60.2% | +294.3% |
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 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|
| Cash & short-term investments | 142.6M | 145.7M | 148.8M | 7.6M | 75.5M | 173.7M | 275.2M | 404.3M |
| Receivables | — | — | — | — | — | — | — | 52K |
| Inventory | — | — | — | — | — | — | — | — |
| Total current assets | 145.3M | 149.8M | 151.5M | 9.4M | 82M | 177.5M | 280.9M | 409.4M |
| Property, plant & equipment | 10.2M | 9.9M | 8.3M | 33K | 956K | 800K | 1.7M | 1.6M |
| Goodwill & intangibles | — | — | — | — | — | — | — | — |
| Total assets | 157.3M | 161.5M | 161.6M | 9.5M | 83.1M | 179.4M | 374M | 530.9M |
| Accounts payable | 3.5M | 2.8M | 3.8M | 1.4M | 1.2M | 2.6M | 4.6M | 9.7M |
| Short-term debt | — | — | — | — | 350K | 417K | 320K | 367K |
| Total current liabilities | 3.5M | 14.1M | 11.4M | 5.4M | 8.2M | 9.6M | 18.5M | 30.7M |
| Long-term debt | — | — | — | 0 | 438K | 168K | 1.2M | 1M |
| Total liabilities | 4.7M | 20.3M | 17.7M | 26.7M | 9.5M | 10.5M | 21.5M | 37.5M |
| Shareholders' equity | -102.7M | 141.2M | 143.9M | -17.2M | 73.7M | 168.9M | 352.5M | 493.4M |
| Total debt | — | — | — | 0 | 788K | 585K | 1.5M | 1.4M |
| Net debt | — | — | — | -7.6M | -14.6M | -131.7M | -21.3M | -49.7M |
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 | 189.9M | 173.7M | 377M | 360.7M | 281.1M | 275.2M | 263.2M | 257.4M | 402.6M | 404.3M | 1.1B | 886.8M |
| Receivables | — | — | — | — | — | — | 1M | 39K | 5M | 52K | 1.2M | 106K |
| Inventory | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current assets | 191.5M | 177.5M | 380.9M | 365.7M | 287.5M | 280.9M | 271M | 263.6M | 413.8M | 409.4M | 1.1B | 897.5M |
| Property, plant & equipment | 893K | 800K | 725K | 631K | 541K | 1.7M | 1.6M | 1.6M | 1.5M | 1.6M | 1.6M | 1.6M |
| Goodwill & intangibles | — | — | — | — | — | — | — | — | — | — | — | — |
| Total assets | 192.5M | 179.4M | 382.5M | 369M | 354.2M | 374M | 348.6M | 326.1M | 577.4M | 530.9M | 1.2B | 1.2B |
| Accounts payable | 1.4M | 2.6M | 2.6M | 3.7M | 7.6M | 4.6M | 8.3M | 5.4M | 6.7M | 9.7M | 5.3M | 6.4M |
| Short-term debt | 413K | 417K | 400K | 377K | 311K | 320K | 226K | 211K | 217K | 367K | 399K | 374K |
| Total current liabilities | 13.1M | 9.6M | 9M | 10M | 15.7M | 18.5M | 17M | 20.1M | 23.9M | 30.7M | 38.3M | 34.4M |
| Long-term debt | 257K | 168K | 97K | 30K | 0 | 1.2M | 1.2M | 1.1M | 1.1M | 1M | 965K | 913K |
| Total liabilities | 14.1M | 10.5M | 9.8M | 10.7M | 16.4M | 21.5M | 20M | 23M | 31M | 37.5M | 45.6M | 41.2M |
| Shareholders' equity | 178.4M | 168.9M | 372.7M | 358.2M | 337.9M | 352.5M | 328.6M | 303.1M | 546.5M | 493.4M | 1.2B | 1.2B |
| Total debt | 670K | 585K | 497K | 407K | 311K | 1.5M | 1.4M | 1.3M | 1.3M | 1.4M | 1.4M | 1.3M |
| Net debt | -156.6M | -131.7M | -329.2M | -313.8M | -33.4M | -21.3M | -8.7M | -11.9M | -54.7M | -49.7M | -626.3M | -109.3M |
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 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Net income | -13.1M | -28.5M | -43.6M | -85M | -162.3M |
| Depreciation & amortization | 0 | 147K | 355K | 412K | 428K |
| Stock-based compensation | 63K | 1.5M | 2.9M | 12.9M | 22.8M |
| Change in working capital | 3.4M | -1M | 4.7M | 1.3M | 17M |
| Operating cash flow | -9.6M | -27.8M | -35.6M | -70.6M | -129.1M |
| Capital expenditure | — | — | — | — | -213K |
| Investing cash flow | 0 | -59.7M | 20.4M | -286.7M | -122.8M |
| Dividends paid | — | — | — | — | — |
| Share repurchases | — | — | — | — | — |
| Financing cash flow | 14.9M | 96.7M | 133.6M | 254.5M | 271.9M |
| Net change in cash | 5.3M | 9.2M | 118.4M | -102.7M | 20M |
| Free cash flow | -9.9M | -29.2M | -37M | -78.3M | -129.3M |
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 | -14.8M | -10.6M | -13.7M | -17.6M | -25.2M | -28.4M | -29.5M | -31.6M | -36.8M | -64.4M | -40.8M | -50.2M |
| Depreciation & amortization | 87K | 103K | 107K | 111K | 116K | 78K | 133K | 99K | 99K | 97K | 76K | 107K |
| Stock-based compensation | 1.2M | 726K | 2M | 3.1M | 3.8M | 3.9M | 5.3M | 5.7M | 5.8M | 6M | 10.6M | 11.9M |
| Change in working capital | 1.9M | 830K | -3.1M | 580K | 3M | 751K | 250K | 2.5M | 2.9M | 11.4M | 4.5M | -1.8M |
| Operating cash flow | -11.6M | -8.9M | -14.7M | -13.8M | -18.2M | -23.5M | -23.8M | -23.9M | -30.6M | -47M | -28.9M | -49M |
| Capital expenditure | — | — | — | — | — | — | — | -46K | -5K | -138K | -10K | -181K |
| Investing cash flow | -11.4M | -8.2M | -5.5M | 1.2M | -259.3M | -23.1M | 14.8M | 26.4M | -201.3M | 37.2M | -134M | -478.5M |
| Dividends paid | — | — | — | — | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — | — | — | — | — |
| Financing cash flow | 72M | -4.9M | 217.6M | -2.2M | 0 | 39.2M | 0 | 0 | 272.3M | -192K | 735M | -201K |
| Net change in cash | 49M | -22M | 197.4M | -14.9M | -277.6M | -7.4M | -9M | 2.6M | 40.4M | -10M | 572.2M | -527.7M |
| Free cash flow | -10.1M | -11.9M | -15M | -14.5M | -21.3M | -27.5M | -27.7M | -23.9M | -30.6M | -47.1M | -28.9M | -49.2M |