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 | -$0.47 | -$0.53 | -12.8% | — | $0 | — |
| Q3 25 | -$0.4 | -$0.39 | +2.5% | — | $0 | — |
| Q2 25 | -$0.42 | -$0.34 | +19.0% | — | $0 | — |
| Q1 25 | -$0.42 | -$0.43 | -2.4% | — | $0 | — |
| Q4 24 | -$0.42 | -$0.42 | 0.0% | — | $0 | — |
| Q3 24 | -$0.37 | -$0.36 | +2.7% | — | $0 | — |
| Q2 24 | -$0.34 | -$0.34 | 0.0% | — | $0 | — |
| Q1 24 | -$0.41 | -$0.33 | +19.5% | — | $0 | — |
| Q4 23 | -$0.43 | -$0.47 | -9.3% | — | $0 | — |
| Q3 23 | -$0.4 | -$0.41 | -2.5% | — | $0 | — |
| Q2 23 | -$0.4 | -$0.34 | +15.0% | — | $0 | — |
| Q1 23 | -$0.35 | -$0.36 | -2.9% | — | $0 | — |
| Q4 22 | -$0.33 | -$0.31 | +6.1% | — | $0 | — |
| Q3 22 | -$0.36 | -$0.34 | +5.6% | — | $0 | — |
| Q2 22 | -$0.32 | -$0.32 | 0.0% | — | $0 | — |
| Q1 22 | -$0.28 | -$0.3 | -7.1% | — | $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 | — | -$1.63 | — | — | $0 | — |
| FY24 | — | -$0.42 | — | — | $0 | — |
| FY23 | — | -$1.57 | — | — | $0 | — |
| FY22 | — | -$1.26 | — | — | $0 | — |
| FY21 | — | -$1.14 |
Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.
| Period | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| YoY change | — | 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 | Q4 23 | Q1 24 | Q2 24 |
|---|
Revenue, gross profit, operating income, and net income per period.
Click a row to chart it; unreported figures show a dash.
| Period | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cost of revenue | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — |
| Research & development | 8.6M | 15M | 32.2M | 54M | 90.9M | 127M | 151.4M |
| Selling, general & administrative | 1.3M | 2.2M | 11M | 17.6M | 23.5M | 31.9M | 40M |
| Operating expenses | 9.9M | 17.2M | 43.2M | 71.7M | 114.4M | 158.8M | 191.4M |
| Operating income | -9.9M | -17.2M | -43.2M | -71.7M | -114.4M | -158.8M | -191.4M |
| Operating margin | — | — | — | — | — | — | — |
| Non-operating income, net | — | — | — | — | — | — | — |
| Pretax income | -9.7M | -17.1M | -42.8M | -67.6M | -100.2M | -133.8M | -167.8M |
| Income tax | — | — | — | — | — | — | — |
| Net income | -9.7M | -17.1M | -42.8M | -67.6M | -100.2M | -133.8M | -167.8M |
| Net margin | — | — | — | — | — | — | — |
| EBITDA | -9.8M | -17M | -42.9M | -71.1M | -112.6M | -156.5M | -189.1M |
| EPS | -0.48 | -0.37 | -1.14 | -1.26 | -1.57 | -0.42 | -1.63 |
| Diluted EPS | -0.48 | -0.37 | -1.14 | -1.26 | -1.57 | -0.42 | -1.63 |
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 | 23.8M | 27.7M | 27.7M | 30.7M | 32.2M | 36.4M | 36.8M | 33.6M | 37.5M | 43.6M | 42.7M | 47.5M |
| Selling, general & administrative | 5.7M | 6.2M | 7.1M | 7.4M | 8.2M | 9.2M | 9.2M | 9.1M | 9.4M | 12.4M | 11.5M | 14.4M |
| Operating expenses | 29.5M | 33.9M | 34.8M | 38.1M | 40.4M | 45.5M | 46M | 42.6M | 46.9M | 56M | 54.1M | 61.9M |
| Operating income | -29.5M | -33.9M | -34.8M | -38.1M | -40.4M | -45.5M | -46M | -42.6M | -46.9M | -56M | -54.1M | -61.9M |
| Operating margin | — | — | — | — | — | — | — | — | — | — | — | — |
| Non-operating income, net | — | — | — | — | — | — | — | — | — | — | — | — |
| Pretax income | -25.7M | -30.1M | -28.5M | -31.5M | -34.1M | -39.7M | -40.8M | -36.1M | -40.7M | -50.2M | -49M | -57.3M |
| Income tax | — | — | — | — | — | — | — | — | — | — | — | — |
| Net income | -25.7M | -30.1M | -28.5M | -31.5M | -34.1M | -39.7M | -40.8M | -36.1M | -40.7M | -50.2M | -49M | -57.3M |
| Net margin | — | — | — | — | — | — | — | — | — | — | — | — |
| EBITDA | -29M | -33.3M | -34.2M | -37.6M | -39.8M | -44.9M | -45.4M | -42M | -46.3M | -55.4M | -53.5M | -61.3M |
| EPS | -0.41 | — | -0.33 | -0.34 | -0.36 | — | -0.43 | -0.34 | -0.39 | -0.47 | -0.46 | -0.53 |
| Diluted EPS | -0.41 | — | -0.33 | -0.34 | -0.36 | — | -0.43 | -0.34 | -0.39 | -0.47 | -0.46 | -0.53 |
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 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| Market cap | — | — | — | — | — | — | 2.6B | 4.3B |
| Enterprise value | — | — | — | — | — | — | 2B | 3.8B |
| Shares outstanding | 20.3M | 46.6M | 37.5M | 53.6M | 63.7M | 94.7M | 102.9M | 102.9M |
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| P/E | — | — | — | — | — | — | — | -24.4 |
| P/B | — | — | — | — | — | — | 4.89 | 9.46 |
| EV/EBITDA | — | — | — | — | — | — | -10.7 | -17.6 |
| Earnings yield | — | — | — | — | — | — | — | -4.1% |
| FCF yield | — | — | — | — | — | — | -5.64% | -2.14% |
| PEG | — | — | — | — | — | — | — | -0.44 |
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| Operating margin | — | — | — | — | — | — | — | 0% |
| Net margin | — | — | — | — | — | — | — | 0% |
| ROE | 57.6% | 51.2% | -15.6% | -19.5% | -31.4% | -29.1% | -32.1% | -38% |
| ROA | -39.5% | -13.1% | -15% | -18.4% | -29.5% | -27.5% | -30.4% | -25% |
| Return on tangible assets | -39.5% | -13.1% | -15% | -18.4% | -29.5% | -27.5% | -30.4% | -41.1% |
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| Current ratio | 21.2 | 29.9 | 27 | 21.5 | 19.5 | 19.9 | 19.9 | 16.2 |
| Quick ratio | 21.2 | 29.9 | 27 | 21.5 | 19.5 | 19.9 | 19.9 | 16.2 |
| Debt / equity | — | — | 0 | 0.01 | 0.02 | 0.01 | 0.01 | 0.01 |
| Debt / assets | — | — | 0 | 0.01 | 0.02 | 0.01 | 0.01 | 0.01 |
| Net debt / EBITDA | — | — | 6.54 | 4.89 | 2.78 | 2.97 | 2.78 | 2.11 |
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| Revenue per share | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (basic) | -0.48 | -0.37 | -1.14 | -1.26 | -1.57 | -0.42 | -1.63 | -1.63 |
| EPS (diluted) | -0.48 | -0.37 | -1.14 | -1.26 | -1.57 | -0.42 | -1.63 | -1.85 |
| Book value per share | -0.83 | -0.72 | 7.31 | 6.47 | 5 | 4.85 | 5.07 | 4.16 |
| FCF per share | -0.46 | -0.32 | -0.91 | -1.09 | -1.53 | -1.16 | -1.4 | -1.48 |
| Cash per share | 1.16 | 2.77 | 7.48 | 6.57 | 5 | 4.96 | 5.15 | 4.24 |
| Capex per share | 0.01 | 0 | 0.02 | 0.1 | 0.09 | 0.01 | — | — |
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| Capex / operating cash flow | -2.01% | -1.33% | -1.97% | -10.7% | -7.09% | -1.25% | — | — |
| Payout ratio | — | — | — | — | — | — | — | 0% |
| — |
| — |
| $0 |
| — |
| FY20 | — | -$0.37 | — | — | $0 | — |
| FY19 | — | -$0.48 | — | — | $0 | — |
| 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 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|
| Cash & short-term investments | 23.7M | 129.1M | 280.8M | 351.9M | 318.4M | 470.2M | 530.1M |
| Receivables | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — |
| Total current assets | 24M | 129.6M | 283.8M | 357M | 327M | 475.5M | 543.4M |
| Property, plant & equipment | -245K | -430K | 912K | 9.9M | 12.7M | 11.1M | 9.2M |
| Goodwill & intangibles | — | — | — | — | — | — | — |
| Total assets | 24.5M | 131.1M | 285.2M | 367.1M | 340M | 486.8M | 552.6M |
| Accounts payable | 667K | 1.6M | 3.8M | 6.1M | 4M | 5.6M | 6M |
| Short-term debt | — | — | — | 608K | 980K | 996K | 1M |
| Total current liabilities | 1.1M | 4.3M | 10.5M | 16.6M | 16.8M | 23.9M | 27.4M |
| Long-term debt | — | — | 0 | 3.8M | 4.4M | 3.7M | 3M |
| Total liabilities | 41.4M | 164.6M | 10.8M | 20.4M | 21.2M | 27.6M | 30.3M |
| Shareholders' equity | -16.9M | -33.4M | 274.4M | 346.7M | 318.8M | 459.2M | 522.3M |
| Total debt | — | — | 0 | 4.4M | 5.4M | 4.7M | 4M |
| Net debt | — | — | -15.6M | -17.6M | -80.7M | -36.9M | -57.2M |
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 | 289.7M | 318.4M | 532.8M | 511.8M | 492.5M | 470.2M | 436.4M | 594M | 563.3M | 530.1M | 499.6M | 460.7M |
| Receivables | — | — | — | — | — | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current assets | 297.9M | 327M | 541.4M | 519.4M | 499.4M | 475.5M | 443.2M | 603.3M | 573.9M | 543.4M | 509.8M | 471.5M |
| Property, plant & equipment | 13M | 12.7M | 12.4M | 11.9M | 11.6M | 11.1M | 10.5M | 10.1M | 9.6M | 9.2M | 8.7M | 8.2M |
| Goodwill & intangibles | — | — | — | — | — | — | — | — | — | — | — | — |
| Total assets | 311.4M | 340M | 553.8M | 531.6M | 511.3M | 486.8M | 454.4M | 613.3M | 583.5M | 552.6M | 518.5M | 479.7M |
| Accounts payable | 5.3M | 4M | 4.7M | 6.8M | 5.6M | 5.6M | 8.8M | 8.3M | 6.2M | 6M | 7.3M | 4.7M |
| Short-term debt | 931K | 980K | 984K | 988K | 992K | 996K | 1M | 1M | 1M | 1M | 1M | 1M |
| Total current liabilities | 16.3M | 16.8M | 14.6M | 17.2M | 19M | 23.9M | 21.1M | 20.9M | 21.6M | 27.4M | 22.5M | 29M |
| Long-term debt | 4.6M | 4.4M | 4.3M | 4M | 3.4M | 3.7M | 3.6M | 3.4M | 3.2M | 3M | 2.8M | 2.6M |
| Total liabilities | 20.9M | 21.2M | 18.9M | 21.2M | 22.4M | 27.6M | 24.7M | 24.3M | 24.8M | 30.3M | 25.3M | 31.6M |
| Shareholders' equity | 290.4M | 318.8M | 534.9M | 510.5M | 488.9M | 459.2M | 429.7M | 589.1M | 558.6M | 522.3M | 493.2M | 448.1M |
| Total debt | 5.5M | 5.4M | 5.2M | 5M | 4.4M | 4.7M | 4.6M | 4.4M | 4.2M | 4M | 3.8M | 3.6M |
| Net debt | -27.4M | -80.7M | -25M | -38.5M | -40.4M | -36.9M | -45.4M | -39M | -41.8M | -57.2M | -29.4M | -68.7M |
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 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|
| Net income | -9.7M | -17.1M | -42.8M | -67.6M | -100.2M | -133.8M | -167.8M |
| Depreciation & amortization | 123K | 185K | 272K | 538K | 1.7M | 2.3M | 2.3M |
| Stock-based compensation | 77K | 354K | 4.4M | 10.9M | 17.6M | 24.7M | 34.8M |
| Change in working capital | 565K | 1.4M | 4.3M | 4.2M | -196K | 1.5M | -476K |
| Operating cash flow | -8.9M | -15.2M | -33.9M | -52M | -81.1M | -105.3M | -143.8M |
| Capital expenditure | -180K | -203K | -668K | -5.5M | -5.7M | -1.3M | — |
| Investing cash flow | -180K | -24.4M | -242.2M | -70.6M | 102.9M | -184.7M | -32.5M |
| Dividends paid | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — |
| Financing cash flow | 24.8M | 120.1M | 186M | 128.9M | 52.5M | 238.9M | 187.4M |
| Net change in cash | 15.7M | 80.5M | -90.1M | 6.4M | 74.3M | -51.1M | 11M |
| Free cash flow | -9.4M | -14.8M | -34.2M | -58.2M | -97.7M | -110.3M | -144.1M |
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 | -25.7M | -30.1M | -28.5M | -31.5M | -34.1M | -39.7M | -40.8M | -36.1M | -40.7M | -50.2M | -49M | -57.3M |
| Depreciation & amortization | 497K | 533K | 525K | 534K | 602K | 629K | 554K | 567K | 570K | 575K | 590K | 597K |
| Stock-based compensation | 4.6M | 5.2M | 4.9M | 5.2M | 6.9M | 7.7M | 9.1M | 7.7M | 8.1M | 9.9M | 8.7M | 9.4M |
| Change in working capital | 1.7M | -1.5M | 616K | 1.7M | -1.2M | 386K | 2.7M | -338K | -2.3M | -496K | 1.3M | 578K |
| Operating cash flow | -19M | -26M | -22.5M | -24M | -27.9M | -30.9M | -28.5M | -32.6M | -34.8M | -38.6M | -42.5M | -42.5M |
| Capital expenditure | -457K | -161K | -297K | -221K | -520K | -274K | -44K | — | — | — | — | — |
| Investing cash flow | 23.4M | 27M | -268.3M | 37.4M | 25.4M | 20.9M | 43.9M | -162.1M | 35.8M | 49.8M | 2.7M | 78.5M |
| Dividends paid | — | — | — | — | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — | — | — | — | — |
| Financing cash flow | 0 | 52.7M | 239.1M | 0 | -214K | 0 | -38K | 187.4M | 0 | 0 | — | — |
| Net change in cash | 4.4M | 53.7M | -51.7M | 13.4M | -2.7M | -10M | 15.4M | -7.3M | 1M | 11.2M | -39.9M | 36.1M |
| Free cash flow | -22.5M | -27M | -28.9M | -26.3M | -27.9M | -27.2M | -37.9M | -32.6M | -34.9M | -38.7M | -42.8M | -42.5M |