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 | -$0.75 | -$1.08 | -44.0% | — | $0 | — |
| Q3 25 | -$0.85 | -$0.76 | +10.6% | — | $0 | — |
| Q2 25 | -$0.93 | -$0.97 | -4.3% | — | $0 | — |
| Q1 25 | -$0.84 | -$1.05 | -25.0% | — | $0 | — |
| Q4 24 | -$0.91 | -$0.88 | +3.3% | — | $0 | — |
| Q3 24 | -$0.71 | -$0.96 | -35.2% | — | $0 | — |
| Q2 24 | -$0.72 | -$0.7 | +2.8% | — | $0 | — |
| Q1 24 | -$0.81 | -$0.81 | 0.0% | — | $0 | — |
| Q4 23 | -$0.93 | -$1.09 | -17.2% | — | $0 | — |
| Q3 23 | -$0.76 | -$0.99 | -30.3% | — | $0 | — |
| Q2 23 | -$0.78 | -$1.08 | -38.5% | — | $0 | — |
| Q1 23 | -$0.76 | -$0.78 | -2.6% | — | $0 | — |
| Q4 22 | -$0.84 | -$0.74 | +11.9% | — | $0 | — |
| Q3 22 | -$0.92 | -$0.8 | +13.0% | — | $0 | — |
| Q2 22 | -$0.8 | -$1.01 | -26.2% | — | $0 | — |
| Q1 22 | -$0.88 | -$0.69 | +21.6% | — | $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 | — | -$3.47 | — | — | $0 | — |
| FY24 | — | -$3.37 | — | — | $0 | — |
| FY23 | — | -$3.95 | — | — | $0 | — |
| FY22 | — | -$3.23 | — | — | $0 | — |
| FY21 | — |
Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.
| Period | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| YoY change | — | 0% | 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.
| Period | Q3 23 |
|---|
Revenue, gross profit, operating income, and net income per period.
Click a row to chart it; unreported figures show a dash.
| Period | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cost of revenue | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — | — |
| Research & development | 4.3M | 11M | 45.2M | 121.3M | 142.8M | 210.8M | 281.4M | 398.3M |
| Selling, general & administrative | 517K | 2.8M | 13.4M | 28.7M | 28.2M | 31.4M | 62.5M | 69.9M |
| Operating expenses | 4.8M | 13.8M | 58.6M | 150M | 171M | 242.2M | 343.9M | 468.2M |
| Operating income | -4.8M | -13.8M | -58.6M | -150M | -171M | -242.2M | -343.9M | -468.2M |
| Operating margin | — | — | — | — | — | — | — | — |
| Non-operating income, net | -21K | -1.3M | -450K | -8K | -54K | -1.4M | -454K | -1.7M |
| Pretax income | -4.8M | -14.9M | -59.4M | -149.3M | -168.1M | -235.9M | -317.4M | -446.2M |
| Income tax | — | — | — | — | — | — | — | — |
| Net income | -4.8M | -14.9M | -59.4M | -149.3M | -168.1M | -235.9M | -317.4M | -446.2M |
| Net margin | — | — | — | — | — | — | — | — |
| EBITDA | -4.8M | -14.6M | -58.3M | -148.9M | -169.3M | -240.5M | -342.2M | -438M |
| EPS | -0.47 | -1.16 | -4.13 | -2.93 | -3.23 | -3.95 | -3.37 | -3.47 |
| Diluted EPS | -0.47 | -1.16 | -4.13 | -2.93 | -3.23 | -3.95 | -3.37 | -3.47 |
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 | 55.3M | 58.8M | 44.5M | 62.3M | 92.8M | 81.8M | 106.4M | 99.2M | 97.2M | 95.4M | 100.9M | 152.2M |
| Selling, general & administrative | 7M | 8.8M | 24.6M | 9.7M | 12.9M | 15.3M | 15.9M | 16.6M | 16.7M | 20.7M | 24.4M | 29.5M |
| Operating expenses | 62.3M | 67.7M | 69.2M | 72M | 105.7M | 97.1M | 122.4M | 115.8M | 113.9M | 116.1M | 125.3M | 181.7M |
| Operating income | -62.3M | -67.7M | -69.2M | -72M | -105.7M | -97.1M | -122.4M | -115.8M | -113.9M | -116.1M | -125.3M | -181.7M |
| Operating margin | — | — | — | — | — | — | — | — | — | — | — | — |
| Non-operating income, net | -126K | -701K | 506K | -192K | -742K | -26K | -89K | -1.6M | 279K | -289K | -133K | -88K |
| Pretax income | -60.2M | -66.6M | -65.6M | -65.1M | -97.1M | -89.5M | -115.4M | -110.9M | -108M | -112M | -120.9M | -178.6M |
| Income tax | — | — | — | — | — | — | — | — | — | — | — | — |
| Net income | -60.2M | -66.6M | -65.6M | -65.1M | -97.1M | -89.5M | -115.4M | -110.9M | -108M | -112M | -120.9M | -178.6M |
| Net margin | — | — | — | — | — | — | — | — | — | — | — | — |
| EBITDA | -61.8M | -67.3M | -68.8M | -71.6M | -105.2M | -96.7M | -121.9M | -110.3M | -104.6M | -108.2M | -116.1M | -173.4M |
| EPS | -0.99 | — | -0.81 | -0.7 | -0.96 | -0.88 | -1.05 | -0.97 | -0.76 | -0.76 | -0.73 | -1.08 |
| Diluted EPS | -0.99 | — | -0.81 | -0.7 | -0.96 | -0.88 | -1.05 | -0.97 | -0.76 | -0.76 | -0.73 | -1.08 |
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 | — | — | — | — | 602.4M | — | — | — | 3.1B |
| Enterprise value | — | — | — | — | 376.9M | — | — | — | 2.3B |
| Shares outstanding | 10.3M | 12.8M | 14.4M | 50.9M | 52M | 59.7M | 94.1M | 128.4M | 128.4M |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| P/E | — | — | — | — | — | — | — | — | -4.71 |
| P/B | — | — | — | — | 2.39 | — | — | — | 3.81 |
| EV/EBITDA | — | — | — | — | -2.23 | — | — | — | -4.35 |
| Earnings yield | — | — | — | — | — | — | — | — | -21.2% |
| FCF yield | — | — | — | — | -26% | — | — | — | -10.4% |
| PEG | — | — | — | — | — | — | — | — | -0.42 |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Operating margin | — | — | — | — | — | — | — | — | 0% |
| Net margin | — | — | — | — | — | — | — | — | 0% |
| ROE | 98.6% | -105.9% | -17.4% | -40.5% | -66.6% | -258.4% | -50.4% | -45.9% | -81.6% |
| ROA | -58.2% | -90.4% | -16.8% | -35.1% | -54.9% | -142.9% | -45.9% | -37.6% | -39% |
| Return on tangible assets | -58.2% | -90.4% | -16.8% | -35.1% | -54.9% | -142.9% | -45.9% | -37.6% | -52.3% |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Current ratio | 11.5 | 6.26 | 31.8 | 13.3 | 9.46 | 2.53 | 15.6 | 22.3 | 12 |
| Quick ratio | 11.5 | 6.26 | 31.8 | 13.3 | 9.46 | 2.53 | 15.6 | 22.3 | 12 |
| Debt / equity | — | — | 0 | 0.09 | 0.12 | 0.3 | 0.04 | 0.17 | 0.33 |
| Debt / assets | — | — | 0 | 0.08 | 0.1 | 0.17 | 0.03 | 0.14 | 0.22 |
| Net debt / EBITDA | — | — | 5.92 | 2.31 | 1.33 | 0.4 | 1.81 | 2.15 | 1.35 |
| Interest coverage | — | — | -149.1 | — | — | — | — | -71.1 | -33.9 |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Revenue per share | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (basic) | -0.47 | -1.16 | -4.13 | -2.93 | -3.23 | -3.95 | -3.37 | -3.47 | -3.47 |
| EPS (diluted) | -0.47 | -1.16 | -4.13 | -2.93 | -3.23 | -3.95 | -3.37 | -3.47 | -3.26 |
| Book value per share | -0.47 | 1.1 | 23.8 | 7.23 | 4.86 | 1.53 | 6.69 | 7.57 | 4.24 |
| FCF per share | -0.42 | -1.05 | -3.31 | -2.42 | -3.02 | -3.16 | -3.13 | -3.3 | -3.02 |
| Cash per share | 0.79 | 1.14 | 24 | 7.4 | 4.93 | 2.06 | 6.82 | 8.65 | 4.81 |
| Capex per share | 0.01 | 0.13 | 0.08 | 0.07 | 0.06 | 0.01 | 0.03 | — | — |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Capex / operating cash flow | -3.24% | -14.3% | -2.7% | -3% | -2.03% | -0.38% | -0.85% | — | — |
| Payout ratio | — | — | — | — | — | — | — | — | 0% |
| -$2.93 |
| — |
| — |
| $0 |
| — |
| FY20 | — | -$4.13 | — | — | $0 | — |
| FY19 | — | -$1.16 | — | — | $0 | — |
| FY18 | — | -$0.47 | — | — | $0 | — |
| 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 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|
| Cash & short-term investments | 8.1M | 14.6M | 345.3M | 376.6M | 256M | 123.1M | 642.3M | 1.1B |
| Receivables | — | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — | — |
| Total current assets | 8.2M | 14.8M | 349.1M | 382.4M | 265.6M | 129.4M | 659.3M | 1.1B |
| Property, plant & equipment | 110K | 1.5M | 1.9M | 41M | 38.4M | 33.4M | 30M | 44.8M |
| Goodwill & intangibles | — | — | — | — | — | — | — | — |
| Total assets | 8.3M | 16.4M | 353.3M | 425.7M | 306.3M | 165.1M | 691.2M | 1.2B |
| Accounts payable | 518K | 1.3M | 3.4M | 4M | 5.3M | 22.9M | 6.6M | 8.1M |
| Short-term debt | — | — | — | 3.9M | 4.6M | 4.7M | 4.8M | 5M |
| Total current liabilities | 711K | 2.4M | 11M | 28.7M | 28.1M | 51.1M | 42.3M | 50.6M |
| Long-term debt | — | — | 0 | 28.7M | 25.9M | 22.7M | 19.1M | 164.2M |
| Total liabilities | 13.1M | 2.4M | 11M | 57.5M | 54M | 73.8M | 61.4M | 214.8M |
| Shareholders' equity | -4.9M | 14M | 342.4M | 368.2M | 252.4M | 91.3M | 629.8M | 972.1M |
| Total debt | — | — | 0 | 32.6M | 30.5M | 27.4M | 24M | 169.2M |
| Net debt | — | — | -300.9M | -168.2M | -141.7M | -94.2M | -411.5M | -724.2M |
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 | 157.8M | 123.1M | 453.5M | 778.8M | 723.7M | 642.3M | 677.5M | 683.9M | 791.9M | 1.1B | 972.2M | 898.5M |
| Receivables | — | — | — | — | — | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current assets | 168.2M | 129.4M | 488.1M | 792.3M | 736.4M | 659.3M | 689.5M | 698M | 806.3M | 1.1B | 1B | 937.9M |
| Property, plant & equipment | 34.7M | 33.4M | 32.2M | 31.6M | 30.5M | 30M | 29.6M | 28.5M | 45.8M | 44.8M | 43.3M | 44.8M |
| Goodwill & intangibles | — | — | — | — | — | — | — | — | — | — | — | — |
| Total assets | 205.2M | 165.1M | 522.3M | 825.9M | 768.8M | 691.2M | 721.1M | 729M | 867.1M | 1.2B | 1.1B | 994M |
| Accounts payable | 3.6M | 22.9M | 7.2M | 1.9M | 6.2M | 6.6M | 7M | 14M | 12.1M | 8.1M | 10.8M | 12.2M |
| Short-term debt | 4.7M | 4.7M | 4.8M | 4.8M | 4.8M | 4.8M | 5.1M | 5M | 5M | 5M | 5M | 5.4M |
| Total current liabilities | 29.7M | 51.1M | 22.4M | 29.8M | 43.3M | 42.3M | 33.9M | 41.5M | 59.8M | 50.6M | 51.2M | 78M |
| Long-term debt | 23.5M | 22.7M | 21.9M | 20.9M | 20M | 19.1M | 18.2M | 116.1M | 115.4M | 164.2M | 163.6M | 213.8M |
| Total liabilities | 53.2M | 73.8M | 44.2M | 50.7M | 63.3M | 61.4M | 52.1M | 157.5M | 175.3M | 214.8M | 214.9M | 291.9M |
| Shareholders' equity | 152M | 91.3M | 478.1M | 775.2M | 705.5M | 629.8M | 669M | 571.4M | 691.8M | 972.1M | 865.1M | 702.2M |
| Total debt | 28.2M | 27.4M | 26.6M | 25.7M | 24.9M | 24M | 23.3M | 121.1M | 120.5M | 169.2M | 168.7M | 219.2M |
| Net debt | -102.1M | -94.2M | -245.4M | -582.5M | -507.3M | -411.5M | -448.9M | -364M | -453.1M | -724.2M | -584.4M | -456.9M |
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 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|
| Net income | -4.8M | -14.9M | -59.4M | -149.3M | -168.1M | -235.9M | -317.4M | -446.2M |
| Depreciation & amortization | 24K | 271K | 700K | 1.1M | 1.7M | 1.7M | 1.7M | 2M |
| Stock-based compensation | 1K | 26K | 6.6M | 17.5M | 15.2M | 20M | 45.9M | 45.9M |
| Change in working capital | 635K | 1.7M | 8.6M | 10.8M | -1.2M | 23M | -9M | -4.4M |
| Operating cash flow | -4.1M | -11.6M | -43.1M | -120.6M | -150.8M | -190.5M | -278.3M | -403.2M |
| Capital expenditure | -134K | -1.6M | -1.2M | -3.6M | -3.1M | -729K | -2.4M | — |
| Investing cash flow | -134K | -1.6M | -90.2M | -137.9M | 87.2M | 83.3M | -204.1M | -8M |
| Dividends paid | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — |
| Financing cash flow | 12.4M | 20M | 380.7M | 157.2M | 36.9M | 52.4M | 773.1M | 882.3M |
| Net change in cash | 8.2M | 6.8M | 247.4M | -101.3M | -26.7M | -54.9M | 290.7M | 471.1M |
| Free cash flow | -4.3M | -13.5M | -47.7M | -123.2M | -156.7M | -188.9M | -294.7M | -423.9M |
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 | 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 | -60.2M | -66.6M | -65.6M | -65.1M | -97.1M | -89.5M | -115.4M | -110.9M | -108M | -112M | -120.9M | -178.6M |
| Depreciation & amortization | 431K | 399K | 386K | 399K | 438K | 450K | 502K | 503K | 523K | 521K | 550K | 560K |
| Stock-based compensation | 4.9M | 5.7M | 19.9M | 6.7M | 8.7M | 10.5M | 13M | 10.5M | 11.1M | 11.2M | 13.1M | 15M |
| Change in working capital | 9.5M | 21.4M | -28.8M | 7.4M | 13.4M | -991K | -8.6M | 7.8M | 5.5M | -9.1M | -4.8M | 23.3M |
| Operating cash flow | -45.3M | -38.9M | -73.9M | -50.5M | -74.4M | -79.5M | -110.4M | -94.7M | -90.8M | -111.8M | -144.9M | -130.3M |
| Capital expenditure | -167K | -82K | -191K | -857K | -253K | -1.1M | -981K | — | — | — | — | — |
| Investing cash flow | 12.8M | 26.2M | -179.8M | 11.2M | -19.4M | -16M | 1.5M | 6.8M | -18.8M | 1.5M | -2.2M | -3.3M |
| Dividends paid | — | — | — | — | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — | — | — | — | — |
| Financing cash flow | 0 | -1K | 397.5M | 375.6M | 0 | 0 | 140.7M | 0 | 215.8M | 427.6M | 5.2M | 4.6M |
| Net change in cash | -32.5M | -12.7M | 143.7M | 336.3M | -93.8M | -95.5M | 31.7M | -87.9M | 106.2M | 317.2M | -141.9M | -129M |
| Free cash flow | -50.8M | -35.1M | -78.7M | -55.7M | -74.9M | -85.4M | -106.9M | -94.8M | -110M | -112.3M | -145.1M | -131.8M |