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 % |
|---|---|---|---|---|---|---|
| Q3 26 | -$0.43 | -$0.47 | -9.3% | — | $0 | — |
| Q2 26 | -$0.47 | -$0.43 | +8.5% | — | $0 | — |
| Q4 25 | -$0.58 | -$0.73 | -25.9% | — | $0 | — |
| Q3 25 | -$0.51 | -$0.57 | -11.8% | — | $0 | — |
| Q2 25 | -$0.48 | -$0.51 | -6.3% | — | $0 | — |
| Q1 25 | -$0.37 | -$0.48 | -29.7% | — | $0 | — |
| Q4 24 | -$0.36 | -$0.34 | +5.6% | — | $0 | — |
| Q3 24 | -$0.35 | -$0.32 | +8.6% | — | $0 | — |
| Q2 24 | -$0.27 | -$0.38 | -40.7% | — | $0 | — |
| Q1 24 | -$0.47 | -$0.46 | +2.1% | — | $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 | — | -$2.29 | — | — | $0 | — |
| FY24 | — | -$1.46 | — | — | $0 | — |
| FY23 | — | -$4.52 | — | — | $0 | — |
| FY22 | — | -$1.25 | — | — | $0 | — |
| FY21 | — | -$0.96 | — |
Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.
| Period | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 | $0 | $0 |
| YoY change | — | 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 | Q4 23 | Q1 24 | Q2 24 | Q3 24 | Q4 24 | Q1 25 | Q2 25 |
|---|
Revenue, gross profit, operating income, and net income per period.
Click a row to chart it; unreported figures show a dash.
| Period | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | 0 | 0 | 0 |
| Cost of revenue | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — |
| Research & development | 10.6M | 12.5M | 15.5M | 16.5M | 38.3M | 94.5M |
| Selling, general & administrative | 3.2M | 3.2M | 3.3M | 8.5M | 22.1M | 28.7M |
| Operating expenses | 13.9M | 15.9M | 19.4M | 26.1M | 62.3M | 123.2M |
| Operating income | -13.9M | -15.9M | -19.4M | -26.1M | -62.3M | -123.2M |
| Operating margin | — | — | — | — | — | — |
| Non-operating income, net | 2.4M | -2.6M | -3.7M | -70M | -479K | -569K |
| Pretax income | -15.1M | -23.4M | -24.4M | -99.9M | -55.2M | -117.3M |
| Income tax | 0 | 0 | 22K | 17K | -19K | 0 |
| Net income | -15.1M | -23.4M | -24.5M | -99.9M | -55.1M | -117.3M |
| Net margin | — | — | — | — | — | — |
| EBITDA | -13.6M | -15.7M | -19.7M | -81.1M | -51.7M | -113.8M |
| EPS | -0.72 | -0.96 | -1.25 | -4.52 | -1.46 | -2.29 |
| Diluted EPS | -0.72 | -0.96 | -1.25 | -4.52 | -1.46 | -2.29 |
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 | Q2 24 | Q3 24 | Q4 24 | Q1 25 | Q2 25 | Q3 25 | Q4 25 | Q1 26 | Q2 26 | Q3 26 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cost of revenue | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — | — | — | — | — | — |
| Research & development | 5.7M | 5.6M | 9.9M | 11.5M | 11.3M | 20M | 20.2M | 22.6M | 31.7M | 22.3M | 22.2M | 20.1M |
| Selling, general & administrative | 4.4M | 3.6M | 6.1M | 4.7M | 7.7M | 6M | 6M | 6.7M | 10M | 8.9M | 9.8M | 13.9M |
| Operating expenses | 10.4M | 10.8M | 17.3M | 16.8M | 17.5M | 26.6M | 27.1M | 29.9M | 41.7M | 31.2M | 32M | 34M |
| Operating income | -10.4M | -10.8M | -17.3M | -16.8M | -17.5M | -26.6M | -27.1M | -29.9M | -39.5M | -31.2M | -32M | -34M |
| Operating margin | — | — | — | — | — | — | — | — | — | — | — | — |
| Non-operating income, net | -71.3M | -430K | 91K | -47K | -93K | 37K | -205K | -280K | -121K | -575K | -177K | -45K |
| Pretax income | -82.5M | -10.7M | -15M | -14.2M | -15.3M | -24.6M | -25.6M | -28.8M | -38.4M | -29.8M | -30.2M | -32.5M |
| Income tax | — | -30K | 21K | -29K | 19K | 18K | 240K | 239K | -497K | 0 | 0 | 0 |
| Net income | -82.5M | -10.7M | -15M | -14.1M | -15.3M | -24.6M | -25.8M | -29M | -37.9M | -29.8M | -30.2M | -32.5M |
| Net margin | — | — | — | — | — | — | — | — | — | — | — | — |
| EBITDA | -62.9M | -9.7M | -14.2M | -13.3M | -14.4M | -23.7M | -24.7M | -27.9M | -37.5M | -28.3M | -29.3M | -31.5M |
| EPS | — | -0.46 | -0.38 | -0.32 | — | -0.48 | -0.51 | -0.57 | — | -0.44 | -0.43 | -0.47 |
| Diluted EPS | — | -0.46 | -0.38 | -0.32 | — | -0.48 | -0.51 | -0.57 | — | -0.44 | -0.43 | -0.47 |
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 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| Market cap | — | — | 235.5M | 503.3M | — | — | 132M |
| Enterprise value | — | — | 247.1M | 431.5M | — | — | -101.7M |
| Shares outstanding | 23.2M | 23.2M | 23.2M | 23.2M | 37.8M | 51.1M | 51.1M |
| Metric | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| P/E | — | — | — | — | — | — | -0.86 |
| P/B | — | — | -10 | 6.94 | — | — | 0.57 |
| EV/EBITDA | — | — | -12.5 | -5.32 | — | — | 0.75 |
| Earnings yield | — | — | — | — | — | — | -116.2% |
| FCF yield | — | — | -7.54% | -4.98% | — | — | -46.1% |
| PEG | — | — | — | — | — | — | 0.05 |
| Metric | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| Operating margin | — | — | — | — | — | — | 0% |
| Net margin | — | — | — | — | — | — | 0% |
| ROE | — | 7.2K% | 104.1% | -137.8% | -20.2% | -69.9% | -60.5% |
| ROA | — | -156% | -102.3% | -114.9% | -17.7% | -53% | -32% |
| ROIC | — | 220.9% | 164.4% | -3.5K% | -105.1% | -2.1K% | 5K% |
| Return on tangible assets | — | -156% | -102.3% | -114.9% | -17.7% | -53% | -45.2% |
| Metric | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| Current ratio | — | 4.2 | 4.42 | 16.3 | 16.9 | 6.3 | 10.2 |
| Quick ratio | — | 4.2 | 4.42 | 16.3 | 16.9 | 6.3 | 10.2 |
| Debt / equity | — | -12.8 | -1.37 | 0.13 | 0.09 | 0.19 | 0.14 |
| Debt / assets | — | 0.28 | 1.34 | 0.11 | 0.08 | 0.14 | 0.12 |
| Net debt / EBITDA | — | 0.44 | -0.59 | 0.88 | 4.13 | 1.42 | 1.84 |
| Interest coverage | -3.07 | -3.67 | -16.2 | -19.2 | -18.7 | -38.2 | -41.6 |
| Effective tax rate | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Metric | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| Revenue per share | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (basic) | -0.72 | -0.96 | -1.25 | -4.52 | -1.46 | -2.29 | -2.29 |
| EPS (diluted) | -0.72 | -0.96 | -1.25 | -4.52 | -1.46 | -2.29 | -2.07 |
| Book value per share | — | -0.01 | -1.01 | 3.12 | 7.22 | 3.28 | 3.44 |
| FCF per share | -0.57 | -0.7 | -0.76 | -1.08 | -1.3 | -1.97 | -1.49 |
| Cash per share | — | 0.47 | 0.88 | 3.51 | 6.31 | 3.79 | 3.97 |
| Capex per share | 0.01 | 0.01 | 0.01 | 0.01 | 0.02 | — | — |
| Metric | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| Capex / operating cash flow | -1.76% | -1.42% | -0.65% | -0.33% | -2.01% | — | — |
| Payout ratio | — | — | — | — | — | — | 0% |
| — |
| $0 |
| — |
| FY20 | — | -$0.72 | — | — | $0 | — |
| Q3 25 |
|---|
| Q4 25 |
|---|
| Q1 26 |
|---|
| Q2 26 |
|---|
| Q3 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 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash & short-term investments | 11M | 20.4M | 81.5M | 238.3M | 193.7M |
| Receivables | — | — | — | — | — |
| Inventory | — | — | — | — | — |
| Total current assets | 13.5M | 22.6M | 85.4M | 247.4M | 201.4M |
| Property, plant & equipment | 515K | 387K | 589K | 1.2M | 2.5M |
| Goodwill & intangibles | — | — | — | — | — |
| Total assets | 15M | 23.9M | 87M | 311.2M | 221.5M |
| Accounts payable | 1M | 723K | 1.2M | 1.4M | 6.7M |
| Short-term debt | 1.1M | 1.3M | 562K | 1.1M | 10M |
| Total current liabilities | 3.2M | 5.1M | 5.3M | 14.7M | 32M |
| Long-term debt | 3M | 30.8M | 9.2M | 23.9M | 21.8M |
| Total liabilities | 15.4M | 47.4M | 14.5M | 38.6M | 53.8M |
| Shareholders' equity | -324K | -23.5M | 72.5M | 272.6M | 167.7M |
| Total debt | 4.2M | 32.1M | 9.8M | 25M | 31.8M |
| Net debt | -6.9M | 11.7M | -71.7M | -148M | -18.4M |
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 | Q4 23 | Q1 24 | Q2 24 | Q3 24 | Q4 24 | Q1 25 | Q2 25 | Q3 25 | Q4 25 | Q1 26 | Q2 26 | Q3 26 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & short-term investments | 81.5M | 85.6M | 264.8M | 257.7M | 238.3M | 213.8M | 217.4M | 201.9M | 193.7M | 275.9M | 258.5M | 266.3M |
| Receivables | — | — | — | — | — | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current assets | 85.4M | 89.6M | 269.6M | 262.7M | 247.4M | 222.3M | 228M | 211.3M | 201.4M | 289.2M | 270M | 277.9M |
| Property, plant & equipment | 589K | 993K | 1.1M | 1M | 1.2M | 3.1M | 3.2M | 9.8M | 2.5M | 9.9M | 9.4M | 9M |
| Goodwill & intangibles | — | — | — | — | — | — | — | — | — | — | — | — |
| Total assets | 87M | 93.4M | 273.5M | 266.9M | 311.2M | 285.9M | 266.7M | 245.6M | 221.5M | 337.1M | 307.5M | 288.3M |
| Accounts payable | 1.2M | 1.3M | 211K | 2.9M | 1.4M | 2.6M | 1.6M | 2.4M | 6.7M | 2.4M | 1.8M | 2.5M |
| Short-term debt | 562K | 393K | 421K | 1.8M | 1.1M | 2.1M | 4M | 6.9M | 10M | 2.5M | 2.5M | 2.4M |
| Total current liabilities | 5.3M | 6.9M | 6.3M | 13.5M | 14.7M | 13M | 18M | 20.4M | 32M | 24.6M | 21.5M | 27.2M |
| Long-term debt | 9.2M | 24.1M | 24.3M | 23.1M | 23.9M | 23M | 21.4M | 24.4M | 21.8M | 31M | 30.9M | 30.8M |
| Total liabilities | 14.5M | 31M | 30.6M | 36.5M | 38.6M | 36M | 39.4M | 44.9M | 53.8M | 55.6M | 52.4M | 58M |
| Shareholders' equity | 72.5M | 62.4M | 243M | 230.3M | 272.6M | 249.9M | 227.3M | 200.7M | 167.7M | 281.5M | 255.2M | 230.3M |
| Total debt | 9.8M | 24.5M | 24.7M | 24.9M | 25M | 25.1M | 25.4M | 31.4M | 31.8M | 33.5M | 33.4M | 33.3M |
| Net debt | -71.7M | -61.1M | -240.1M | -232.8M | -148M | -37.2M | -32.2M | -1.2M | -18.4M | -3.1M | 3.5M | -7.8M |
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 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|
| Net income | -15.1M | -23.4M | -24.5M | -99.9M | -55.1M | -117.3M |
| Depreciation & amortization | 259K | 272K | 238K | 175K | 323K | 509K |
| Stock-based compensation | 150K | 435K | 116K | 3.5M | 5.3M | 9.6M |
| Change in working capital | 73K | 405K | -54K | -634K | 2.4M | 4.6M |
| Operating cash flow | -10.9M | -17.4M | -23.5M | -95.2M | -46.1M | -99.2M |
| Capital expenditure | -192K | -247K | -153K | -318K | -925K | — |
| Investing cash flow | -192K | -247K | -153K | -318K | -126M | -23.7M |
| Dividends paid | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — |
| Financing cash flow | 12.8M | 22.5M | 28M | 86.1M | 259.6M | -699K |
| Net change in cash | 1.8M | 4.9M | 4.3M | -9.4M | 87.6M | -123.6M |
| Free cash flow | -13.3M | -16.2M | -17.7M | -25.1M | -49.2M | -100.7M |
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 | Q2 24 | Q3 24 | Q4 24 | Q1 25 | Q2 25 | Q3 25 | Q4 25 | Q1 26 | Q2 26 | Q3 26 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net income | -82.5M | -10.7M | -15M | -14.1M | -15.3M | -24.6M | -25.8M | -29M | -37.9M | -29.8M | -30.2M | -32.5M |
| Depreciation & amortization | 49K | 80K | 78K | 82K | 83K | 102K | 106K | 130K | 171K | 189K | 180K | 178K |
| Stock-based compensation | 3.4M | 291K | 1.9M | 1.5M | 1.7M | 1.8M | 2.6M | 2.6M | 2.6M | 2.8M | 4.1M | 7.8M |
| Change in working capital | -390K | 1.5M | -991K | 3.5M | -1.6M | 860K | -996K | 771K | 4M | -4.5M | -532K | 297K |
| Operating cash flow | -81.4M | -8.7M | -13.7M | -8.8M | -14.9M | -21.6M | -23.8M | -25.6M | -25M | -28.9M | -30.5M | -18.9M |
| Capital expenditure | -138K | -506K | -179K | -2K | -238K | -299K | -45K | — | — | — | — | — |
| Investing cash flow | -138K | -506K | -179K | -2K | -238K | -85M | 17.9M | 2.1M | 40.9M | -126.1M | 23.7M | 30.1M |
| Dividends paid | — | — | — | — | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — | — | — | — | — |
| Financing cash flow | -6.1M | 12M | -12.5M | 0 | 60.1M | 0 | 0 | -699K | 0 | 118.1M | 70K | 0 |
| Net change in cash | -87.6M | 2.8M | -26.4M | -8.8M | 45M | -106.5M | -5.8M | -24.3M | 16M | -36.9M | -6.7M | 11.2M |
| Free cash flow | -6.9M | -7.9M | -14.3M | -7.2M | -19.8M | -26M | -23M | -26.3M | -25.4M | -29.1M | -30.6M | -18.9M |