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 | -$0.69 | -$1.26 | -82.6% | — | $0 | — |
| Q1 26 | -$0.81 | -$0.75 | +7.4% | — | $10.8M | — |
| Q4 25 | -$0.64 | $1.01 | +257.8% | — | $34.2M | — |
| Q3 25 | -$2.21 | -$1.84 | +16.7% | — | $13K | — |
| Q2 25 | -$2.2 | -$2.13 | +3.2% | — | $18K | — |
| Q1 25 | -$2.42 | -$2.21 | +8.7% | — | $29K | — |
| Q4 24 | -$2.94 | -$2.14 | +27.2% | — | $638K | — |
| Q3 24 | -$3.13 | -$2.25 | +28.1% | — | $576K | — |
| Q2 24 | -$5.07 | $4.67 | +192.1% | — | $49.9M | — |
| Q1 24 | -$1.91 | $1.7 | +189.0% | — | $17.6M | — |
| Q4 23 | -$2.03 | -$15.6 | -666.5% | — | $7M | — |
| Q3 23 | -$5 | -$2.1 | +58.0% | — | $13.1M | — |
| Q2 23 | -$7.5 | -$3 | +60.0% | — | $19.8M | — |
| Q1 23 | -$6.6 | -$6.55 | +0.8% | — | $8.8M | — |
| Q4 22 | -$5.88 | -$2.79 | +52.6% | — | $10.6M | — |
| Q3 22 | -$11.2 | -$6.6 | +40.9% | — | $7.4M | — |
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 | — | -$3.56 | — | — | $34.3M | — |
| FY24 | — | $1.05 | — | — | $68.7M | — |
| FY23 | — | -$16 | — | — | $48.7M | — |
| FY22 | — | -$38.1 | — | — | $25.1M | — |
Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.
| Period | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $6.5M | $10.9M | $22.2M | $24.3M | $115.5M | $25.1M | $48.7M | $68.7M | $34.3M |
| YoY change | — | +67.8% | +104.3% | +9.2% | +375.7% | -78.3% | +94.1% | +41% | -50.1% |
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 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | 6.5M | 10.9M | 22.2M | 24.3M | 115.5M | 25.1M | 48.7M | 68.7M | 34.3M |
| Cost of revenue | — | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — | — | — |
| Research & development | 20.3M | 45.1M | 82.4M | 98.1M | 115.2M | 46.1M | 53.4M | 59.6M | 54.2M |
| Selling, general & administrative | 8M | 13.7M | 27M | 36.1M | 39.7M | 41.3M | 39.1M | 35.3M | 32.2M |
| Operating expenses | 28.3M | 58.8M | 109.4M | 134.1M | 154.9M | 87.4M | 92.5M | 94.9M | 86.4M |
| Operating income | -21.9M | -47.9M | -87.2M | -109.8M | -39.4M | -62.3M | -43.7M | -26.2M | -52.1M |
| Operating margin | -337.1% | -440.2% | -392.1% | -452.2% | -34.1% | -248.3% | -89.8% | -38.1% | -152.2% |
| Non-operating income, net | -118K | — | -9.8M | — | 8.7M | -13M | -4.2M | 28.3M | 2.7M |
| Pretax income | -21.1M | -46M | -92.9M | -109M | -30.6M | -72.9M | -42.5M | 7.2M | -46.6M |
| Income tax | — | — | — | — | — | — | — | — | — |
| Net income | -21.1M | -46M | -92.9M | -109M | -30.6M | -111.6M | -61.3M | 7.2M | -45.7M |
| Net margin | -325.4% | -423% | -417.6% | -448.9% | -26.5% | -444.8% | -125.8% | 10.4% | -133.4% |
| EBITDA | -20.3M | -43.7M | -87.4M | -99.2M | -28.8M | -51.4M | -32.7M | -15.6M | -53.1M |
| EPS | -18.8 | -28.2 | -66.3 | -62.7 | -15.6 | -38.1 | -16 | 1.05 | -3.56 |
| Diluted EPS | -18.8 | -28.2 | -66.3 | -62.7 | -15.6 | -38.1 | -16 | 1.04 | -3.56 |
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 | 13.1M | 7M | 17.6M | 49.9M | 576K | 638K | 29K | 18K | 13K | 34.2M | 10.8M | 0 |
| Cost of revenue | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — | — | — | — | — | — |
| Research & development | 15.8M | 13.4M | 13.3M | 17.2M | 13.1M | 15.9M | 13.6M | 12.8M | 13.4M | 14.5M | 13.1M | 12.4M |
| Selling, general & administrative | 9.6M | 8.5M | 8.4M | 8.5M | 8.8M | 9.6M | 8.6M | 9.1M | 7.3M | 7.2M | 6.8M | 6.8M |
| Operating expenses | 25.5M | 21.9M | 21.8M | 25.8M | 21.9M | 25.5M | 22.1M | 21.9M | 20.7M | 21.7M | 19.9M | 19.2M |
| Operating income | -12.4M | -14.9M | -4.2M | 24.1M | -21.3M | -24.8M | -22.1M | -21.9M | -20.7M | 12.5M | -9.1M | -19.2M |
| Operating margin | -94.2% | -211.6% | -23.8% | 48.4% | -3.7K% | -3.9K% | -76.2K% | -121.5K% | -159K% | 36.6% | -83.7% | — |
| Non-operating income, net | -1M | 208K | 11.7M | 7.3M | 3.3M | 6M | 578K | -2.4M | -1.8M | 6.3M | -10.1M | -14.1M |
| Pretax income | -12.1M | -13.4M | 8.6M | 32.7M | -16.4M | -17.7M | -20.6M | -23.5M | -21.8M | 19.2M | -18.4M | -32.7M |
| Income tax | — | — | — | — | — | — | — | — | — | — | — | — |
| Net income | -8.1M | -16.3M | 8.6M | 32.7M | -16.4M | -17.7M | -20.6M | -23.5M | -21.8M | 20.1M | -18.4M | -32.7M |
| Net margin | -61.6% | -231.4% | 48.8% | 65.6% | -2.9K% | -2.8K% | -70.9K% | -130.7K% | -167.5K% | 58.9% | -170.2% | — |
| EBITDA | -9.8M | -11.9M | 616K | 26.4M | -19.4M | -23.3M | -18.7M | -20.7M | -19.6M | 5.9M | -10.4M | -17.6M |
| EPS | -2.1 | — | 1.7 | 4.7 | -2.25 | — | -2.21 | -2.13 | -1.84 | 1.06 | -0.75 | -1.26 |
| Diluted EPS | -2.1 | — | 1.7 | 4.67 | -2.25 | — | -2.21 | -2.13 | -1.84 | 1.05 | -0.75 | -1.26 |
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 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|---|
| Market cap | — | — | — | — | — | — | — | — | — | 172.2M |
| Enterprise value | — | — | — | — | — | — | — | — | — | 112.2M |
| Shares outstanding | 1.1M | 1.6M | 1.4M | 1.7M | 2M | 2.9M | 3.8M | 6.8M | 12.8M | 12.8M |
| Metric | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|---|
| P/E | — | — | — | — | — | — | — | — | — | 4.38 |
| P/S | — | — | — | — | — | — | — | — | — | 3.81 |
| P/B | — | — | — | — | — | — | — | — | — | 3.63 |
| EV/EBITDA | — | — | — | — | — | — | — | — | — | -3.19 |
| EV/Sales | — | — | — | — | — | — | — | — | — | 2.49 |
| Earnings yield | — | — | — | — | — | — | — | — | — | 22.9% |
| FCF yield | — | — | — | — | — | — | — | — | — | -9.44% |
| PEG | — | — | — | — | — | — | — | — | — | -0.11 |
| Metric | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating margin | -337.1% | -440.2% | -392.1% | -452.2% | -34.1% | -248.3% | -89.8% | -38.1% | -152.2% | -80.8% |
| Net margin | -325.4% | -423% | -417.6% | -448.9% | -26.5% | -444.8% | -125.8% | 10.4% | -133.4% | -117% |
| ROE | 80% | -115.2% | -67.1% | -245.4% | -33.6% | -184.7% | -325.1% | 12.7% | -49.6% | -135.1% |
| ROA | -29% | -33.2% | -39.5% | -72.6% | -14.5% | -46.9% | -38.4% | 5.25% | -29.6% | -19.4% |
| Return on tangible assets | -29.1% | -33.9% | -40% | -73.9% | -14.8% | -47.2% | -38.6% | 5.3% | -30.1% | -42.2% |
| Metric | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|---|
| Current ratio | 6.99 | 8.22 | 7.19 | 2.46 | 4.5 | 3.34 | 2.73 | 6.34 | 13.3 | 12.8 |
| Quick ratio | 6.99 | 8.22 | 7.19 | 2.46 | 4.5 | 3.34 | 2.73 | 6.34 | 13.3 | 12.8 |
| Debt / equity | — | — | 0 | 0.24 | 0.1 | 0.41 | 1.66 | 0.53 | 0.31 | 0.62 |
| Debt / assets | — | — | 0 | 0.07 | 0.04 | 0.1 | 0.2 | 0.22 | 0.19 | 0.22 |
| Net debt / EBITDA | — | — | 2.07 | 0.8 | 4.67 | 3.2 | 2.61 | 3.6 | 1.63 | 1.43 |
| Interest coverage | — | — | -509.3 | — | -230.8 | -64.6 | -18.1 | 5.02 | -31.8 | -39.6 |
| Metric | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue per share | 5.78 | 6.66 | 15.9 | 14 | 59.1 | 8.57 | 12.7 | 10.1 | 2.67 | 2.21 |
| EPS (basic) | -18.8 | -28.2 | -66.3 | -62.7 | -15.6 | -38.1 | -16 | 1.05 | -3.56 | -3.56 |
| EPS (diluted) | -18.8 | -28.2 | -66.3 | -62.7 | -15.6 | -38.1 | -16 | 1.04 | -3.56 | -1.31 |
| Book value per share | -23.5 | 24.5 | 98.8 | 25.6 | 46.6 | 20.6 | 4.91 | 8.25 | 7.19 | 1.71 |
| FCF per share | -26.5 | -41.2 | -68.4 | -53.3 | -8.51 | -16.7 | -22.5 | -8.59 | -5.19 | -2.03 |
| Cash per share | 56 | 63.1 | 129.2 | 51.8 | 73.4 | 64.7 | 30.4 | 12.6 | 9.01 | 3.17 |
| Capex per share | 4.92 | 8.73 | 17.6 | 2.9 | 2.58 | 1.13 | 0.48 | 0.03 | — | — |
| Metric | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|---|
| Capex / revenue | 85.1% | 131.1% | 110.9% | 20.7% | 4.37% | 13.2% | 3.8% | 0.28% | — | — |
| Capex / operating cash flow | -22.5% | -31% | -35% | -5.52% | -48.9% | -5.73% | -2.23% | -0.64% | — | — |
| Payout ratio | — | — | — | — | — | — | — | — | — | 0% |
| FY21 |
| — |
| -$15.6 |
| — |
| — |
| $115.5M |
| — |
| FY20 | — | -$62.7 | — | — | $24.3M | — |
| FY19 | — | -$66.3 | — | — | $22.2M | — |
| FY18 | — | -$28.2 | — | — | $10.9M | — |
| FY17 | — | -$18.8 | — | — | $6.5M | — |
| 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 | $13.1M | $7M | $17.6M | $49.9M | $576K | $638K | $29K | $18K | $13K | $34.2M | $10.8M | $0 |
| YoY change | +78.2% | -33.6% | +100.3% | +152.2% | -95.6% | -90.9% | -99.8% | -100% | -97.7% | +5.3K% | +37.3K% | -100% |
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 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|
| Cash & short-term investments | 62.8M | 103.2M | 180.9M | 89.8M | 143.7M | 189.6M | 116.7M | 86.3M | 115.6M |
| Receivables | 0 | 523K | 965K | 10M | 488K | 720K | 901K | 229K | 0 |
| Inventory | — | — | — | — | — | — | — | — | — |
| Total current assets | 64.3M | 115.7M | 193.7M | 105.6M | 161.8M | 199.1M | 136.4M | 95M | 118.7M |
| Property, plant & equipment | 8.1M | 21.1M | 39.6M | 41.5M | 29.3M | 13.8M | 14.6M | 10.2M | 7.2M |
| Goodwill & intangibles | 180K | 2.9M | 2.9M | 2.7M | 4.1M | 1.5M | 800K | 1.2M | 2.3M |
| Total assets | 72.7M | 138.6M | 235.2M | 150.2M | 211.5M | 238.2M | 159.8M | 136.4M | 154.4M |
| Accounts payable | 1.8M | 2.2M | 2M | 792K | 1.1M | 653K | 3M | 1.3M | 296K |
| Short-term debt | — | — | — | 1.9M | 1.8M | 1.7M | 23.5M | 1.3M | 1.5M |
| Total current liabilities | 9.2M | 14.1M | 26.9M | 42.8M | 36M | 59.7M | 50M | 15M | 8.9M |
| Long-term debt | — | — | 0 | 8.6M | 7.3M | 23.3M | 7.7M | 28.7M | 27.3M |
| Total liabilities | 99.1M | 98.6M | 96.9M | 105.7M | 120.3M | 177.7M | 140.9M | 80M | 62.2M |
| Shareholders' equity | -26.4M | 40M | 138.3M | 44.4M | 91.2M | 60.4M | 18.9M | 56.4M | 92.2M |
| Total debt | — | — | 0 | 10.5M | 9.1M | 25M | 31.3M | 30M | 28.8M |
| Net debt | — | — | -180.9M | -79.3M | -134.6M | -164.6M | -85.4M | -55.9M | -82M |
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 | 122.2M | 116.7M | 137.8M | 123.6M | 101.2M | 86.3M | 77.2M | 62.2M | 44.9M | 115.6M | 99.4M | 87.5M |
| Receivables | 3.5M | 901K | 390K | 207K | 188K | 229K | 4K | 0 | 4K | 0 | 4M | 0 |
| Inventory | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current assets | 145.9M | 136.4M | 160.8M | 144M | 110.5M | 95M | 82.1M | 70.3M | 51.7M | 118.7M | 108.7M | 91.5M |
| Property, plant & equipment | 9.8M | 14.6M | 13.3M | 11.9M | 11M | 10.2M | 9.5M | 8.8M | 8.2M | 7.2M | — | 6.1M |
| Goodwill & intangibles | 977K | 800K | 386K | 375K | 388K | 1.2M | 607K | 605K | 985K | 2.3M | 1.1M | 1.1M |
| Total assets | 164.3M | 159.8M | 184.7M | 165.8M | 153.3M | 136.4M | 124.4M | 108.9M | 93.5M | 154.4M | 143.9M | 125.9M |
| Accounts payable | 531K | 3M | 1.1M | 1.1M | 958K | 1.3M | 924K | 1.1M | 1.3M | 296K | 944K | 828K |
| Short-term debt | 23.9M | 23.5M | 23.6M | 23.7M | 1.3M | 1.3M | 1.4M | 1.4M | 1.5M | 1.5M | — | 1.6M |
| Total current liabilities | 50.6M | 50M | 33.3M | 33M | 12M | 15M | 12.4M | 13.6M | 15M | 8.9M | 7.8M | 7.1M |
| Long-term debt | 0 | 7.7M | 7.4M | 7.1M | 29M | 28.7M | 28.4M | 28M | 27.7M | 27.3M | 4.5M | 26.5M |
| Total liabilities | 135.3M | 140.9M | 147.5M | 91.1M | 88.4M | 80M | 75.1M | 74.9M | 76.9M | 62.2M | 67.8M | 80.6M |
| Shareholders' equity | 29.1M | 18.9M | 37.2M | 74.7M | 64.9M | 56.4M | 49.3M | 34.1M | 16.6M | 92.2M | 76.1M | 45.3M |
| Total debt | 23.9M | 31.3M | 31.1M | 30.8M | 30.3M | 30M | 29.7M | 29.4M | 29.1M | 28.8M | 4.5M | 28.1M |
| Net debt | -98.4M | -85.4M | -106.7M | -92.8M | -68.4M | -55.9M | -47.5M | -32.8M | -15.7M | -82M | -94.9M | -58M |
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 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|
| Net income | -21.1M | -46M | -92.9M | -109M | -30.6M | -111.6M | -61.3M | 7.2M | -45.7M |
| Depreciation & amortization | 1.4M | 2.4M | 5.3M | 9.8M | 10.2M | 9M | 8.3M | 4.6M | 2.8M |
| Stock-based compensation | 419K | 2.5M | 8.9M | 13.8M | 16.5M | 19.2M | 14M | 12.6M | 10.2M |
| Change in working capital | -5.3M | -4.8M | -1.8M | -5.7M | 14M | 25.1M | -42.5M | -53.5M | -32.6M |
| Operating cash flow | -24.5M | -46.1M | -70.5M | -91.2M | -10.3M | -57.9M | -82.9M | -29.6M | -65.8M |
| Capital expenditure | -5.5M | -14.3M | -24.7M | -5M | -5.1M | -3.3M | -1.9M | -190K | — |
| Investing cash flow | -5.5M | -14.3M | -24.7M | -5M | -5.1M | -3.3M | 6.2M | -190K | — |
| Dividends paid | — | — | — | — | — | — | — | — | — |
| Share repurchases | -952K | 0 | — | — | — | — | — | — | — |
| Financing cash flow | -952K | 107.6M | 211.7M | 0 | 62.9M | 94.2M | 5M | 50.2M | 94.9M |
| Net change in cash | -31M | 47.3M | 116.5M | -96.2M | 47.6M | 32.9M | -71.7M | 20.4M | 29.1M |
| Free cash flow | -29.7M | -67.4M | -95.7M | -92.4M | -16.7M | -49.1M | -86.4M | -58.7M | -66.5M |
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 | -8.1M | -16.3M | 8.6M | 32.7M | -16.4M | -17.7M | -20.6M | -23.5M | -21.8M | 20.1M | -18.4M | -32.7M |
| Depreciation & amortization | 2M | 1.6M | 1.4M | 1.4M | 1M | 757K | 705K | 696K | 674K | 678K | 640K | 603K |
| Stock-based compensation | 3.1M | 3M | 2.9M | 2.9M | 3.2M | 3.6M | 2.8M | 2.9M | 2.4M | 2M | 1.5M | 1.8M |
| Change in working capital | -13M | 857K | -17.1M | -48.1M | 11.3M | 228K | -3.1M | 238K | 292K | -30M | -5.5M | 3.8M |
| Operating cash flow | -15.5M | -12.7M | -4M | -11.1M | -2M | -12.4M | -20.3M | -20.3M | -15.3M | -11.3M | -11.9M | -13.4M |
| Capital expenditure | -386K | 63K | -26K | -28K | -39K | -97K | -64K | — | — | — | — | — |
| Investing cash flow | -386K | 63K | -26K | -28K | -39K | -97K | -64K | — | — | — | — | — |
| Dividends paid | — | — | — | — | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — | — | — | — | — |
| Financing cash flow | -138K | 2.8M | 40M | 2.2M | 3.6M | 5.9M | 20.1M | 5.3M | 1.6M | 77.5M | 662K | 0 |
| Net change in cash | -16.1M | -9.8M | 35.9M | -8.9M | 1.5M | -6.6M | -325K | -15M | -13.7M | 66.3M | -11.3M | -13.4M |
| Free cash flow | -23.5M | -8.4M | -19.1M | -14.9M | -6M | -18.8M | -19.4M | -20.3M | -15.3M | -11.6M | -12.1M | -13.4M |