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 | -$1.02 | -$1.04 | -2.0% | — | $3.8M | — |
| Q1 26 | -$1 | -$1.01 | -1.0% | — | $3M | — |
| Q4 25 | -$0.53 | $0.43 | +181.1% | — | $85.1M | — |
| Q2 25 | -$0.69 | -$0.98 | -42.0% | — | $15K | — |
| Q1 25 | -$0.86 | -$0.86 | 0.0% | — | $14K | — |
| Q4 24 | -$0.84 | -$0.9 | -7.1% | — | $1K | — |
| Q3 24 | -$0.7 | -$0.79 | -12.9% | — | $3K | — |
| Q2 24 | -$0.71 | -$0.63 | +11.3% | — | $5K | — |
| Q1 24 | -$0.76 | -$0.66 | +13.2% | — | $28K | — |
| Q4 23 | -$0.73 | -$0.77 | -5.5% | — | -$19K | — |
| Q3 23 | -$0.59 | -$0.24 | +59.3% | — | $20.2M | — |
| Q2 23 | -$0.81 | -$0.77 | +4.9% | — | $239K | — |
| Q1 23 | -$0.89 | -$0.88 | +1.1% | — | $298K | — |
| Q4 22 | -$0.79 | -$0.84 | -6.3% | — | $1.2M | — |
| Q3 22 | -$0.91 | -$0.79 | +13.2% | — | $500K | — |
| Q2 22 | -$0.85 | -$0.87 | -2.4% | — | $162K | — |
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 | — | -$2.42 | — | — | $85.2M | — |
| FY24 | — | -$2.98 | — | — | $37K | — |
| FY23 | — | -$2.58 | — | — | $20.7M | — |
| FY22 | — | -$3.32 | — | — | $3.1M | — |
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 | $5.8M | $14.1M | $7M | $13.6M | $18M | $3.1M | $20.7M | $37K | $85.2M |
| YoY change | — | +144% | -50.6% | +94.8% | +32.5% | -82.7% | +562.3% | -99.8% | +230.2K% |
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 | 5.8M | 14.1M | 7M | 13.6M | 18M | 3.1M | 20.7M | 37K | 85.2M |
| Cost of revenue | — | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — | — | — |
| Research & development | 13.6M | 18.4M | 38.7M | 53M | 61.4M | 80.3M | 97.1M | 141.3M | 195.7M |
| Selling, general & administrative | 3.5M | 6.2M | 13.9M | 17.2M | 28M | 32.9M | 36.5M | 46.6M | 49.1M |
| Operating expenses | 17.1M | 24.5M | 52.6M | 70.3M | 89.4M | 113.2M | 133.6M | 187.9M | 244.8M |
| Operating income | -11.3M | -10.4M | -45.6M | -56.7M | -71.3M | -110M | -112.9M | -187.8M | -159.5M |
| Operating margin | -194.7% | -73.6% | -653.1% | -416.3% | -395.5% | -3.5K% | -544.6% | -507.7K% | -187.2% |
| Non-operating income, net | -40K | -2K | -5.2M | -181K | -121K | -35K | -181K | -77K | -37K |
| Pretax income | -11.2M | -9.6M | -49.3M | -56.7M | -71.3M | -107.5M | -100.8M | -160.9M | -140.1M |
| Income tax | — | — | — | — | — | — | — | — | — |
| Net income | -11.2M | -9.6M | -49.3M | -56.7M | -71.3M | -107.5M | -100.8M | -160.9M | -140.1M |
| Net margin | -193.8% | -67.6% | -705.8% | -416.5% | -395.4% | -3.4K% | -486.6% | -434.8K% | -164.4% |
| EBITDA | -10.6M | -9.7M | -39.5M | -55.2M | -68.3M | -106.2M | -107.1M | -181.1M | -151.9M |
| EPS | -0.76 | -0.76 | -3.32 | -8.82 | -2.57 | -3.32 | -2.58 | -2.98 | -2.42 |
| Diluted EPS | -0.76 | -0.76 | -3.32 | -8.82 | -2.57 | -3.32 | -2.58 | -2.98 | -2.42 |
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 | 20.2M | -19K | 28K | 5K | 3K | 1K | 14K | 15K | 90K | 85.1M | 3M | 3.8M |
| Cost of revenue | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — | — | — | — | — | — |
| Research & development | 25.1M | 26M | 27.9M | 31.9M | 38.5M | 43.1M | 40.7M | 48M | 49.4M | 57.6M | 65M | 68.3M |
| Selling, general & administrative | 9.1M | 10.6M | 10.3M | 10.6M | 12.7M | 13M | 12.9M | 11.5M | 11.8M | 12.8M | 11.7M | 12.5M |
| Operating expenses | 34.2M | 36.6M | 38.2M | 42.5M | 51.1M | 56.1M | 53.6M | 59.5M | 61.3M | 70.4M | 76.7M | 80.8M |
| Operating income | -14M | -36.7M | -38.1M | -42.5M | -51.1M | -56.1M | -53.6M | -59.5M | -61.2M | 14.7M | -73.6M | -77M |
| Operating margin | -69.2% | 192.9K% | -136.2K% | -849.1K% | -1.7M% | -5.6M% | -383K% | -396.4K% | -68K% | 17.3% | -2.4K% | -2K% |
| Non-operating income, net | -158K | -11K | -10K | -45K | -1K | -21K | 67K | -61K | -21K | -22K | -4K | -166K |
| Pretax income | -10.3M | -32.3M | -32.4M | -35M | -43.8M | -49.7M | -48M | -54.7M | -56.9M | 19.4M | -68.8M | -72.9M |
| Income tax | — | — | — | — | — | — | — | — | — | — | — | — |
| Net income | -10.3M | -32.3M | -32.4M | -35M | -43.8M | -49.7M | -48M | -54.7M | -56.9M | 19.4M | -68.8M | -72.9M |
| Net margin | -50.8% | 169.9K% | -115.7K% | -699.1K% | -1.5M% | -5M% | -342.7K% | -364.4K% | -63.2K% | 22.8% | -2.3K% | -1.9K% |
| EBITDA | -12.6M | -35.1M | -36.5M | -40.8M | -49.4M | -54.3M | -51.9M | -57.6M | -59.2M | 16.7M | -71.6M | -74.9M |
| EPS | -0.24 | — | -0.66 | -0.63 | -0.79 | — | -0.86 | -0.98 | -1.01 | — | -1.01 | -1.04 |
| Diluted EPS | -0.24 | — | -0.66 | -0.63 | -0.79 | — | -0.86 | -0.98 | -1.01 | — | -1.01 | -1.04 |
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 | — | — | — | — | — | — | — | — | 434.5M | 804.4M |
| Enterprise value | — | — | — | — | — | — | — | — | 53.2M | 477.3M |
| Shares outstanding | 14.8M | 12.5M | 14.8M | 6.4M | 27.7M | 32.4M | 39.1M | 53.9M | 57.9M | 57.9M |
| Metric | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|---|
| P/E | — | — | — | — | — | — | — | — | — | -6.02 |
| P/S | — | — | — | — | — | — | — | — | 5.1 | 8.74 |
| P/B | — | — | — | — | — | — | — | — | 0.86 | 1.97 |
| EV/EBITDA | — | — | — | — | — | — | — | — | -0.35 | -2.53 |
| EV/Sales | — | — | — | — | — | — | — | — | 0.62 | 5.19 |
| Earnings yield | — | — | — | — | — | — | — | — | — | -16.6% |
| FCF yield | — | — | — | — | — | — | — | — | -25.2% | -11.3% |
| PEG | — | — | — | — | — | — | — | — | — | -0.98 |
| Metric | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating margin | -194.7% | -73.6% | -653.1% | -416.3% | -395.5% | -3.5K% | -544.6% | -507.7K% | -187.2% | -2K% |
| Net margin | -193.8% | -67.6% | -705.8% | -416.5% | -395.4% | -3.4K% | -486.6% | -434.8K% | -164.4% | -194.7% |
| ROE | 57.3% | 34.6% | 67.6% | -22.1% | -22.3% | -46.5% | -32.8% | -31.5% | -27.7% | -43.3% |
| ROA | -41.1% | -9.85% | -84.7% | -19.7% | -20.2% | -41.1% | -29.7% | -28.7% | -24.7% | -25.1% |
| Return on tangible assets | -41.1% | -9.85% | -84.7% | -19.7% | -20.2% | -41.1% | -29.7% | -28.7% | -24.7% | -36.4% |
| Metric | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|---|
| Current ratio | 4.15 | 11.7 | 4.05 | 16.9 | 15.7 | 14 | 15.7 | 14.9 | 9.39 | 8.03 |
| Quick ratio | 4.15 | 11.7 | 4.05 | 16.9 | 15.7 | 14 | 15.7 | 14.9 | 9.39 | 8.03 |
| Debt / equity | — | — | — | 0 | 0.05 | 0.07 | 0.05 | 0.05 | 0.04 | 0.1 |
| Debt / assets | — | — | — | 0 | 0.05 | 0.06 | 0.04 | 0.04 | 0.04 | 0.08 |
| Net debt / EBITDA | — | — | — | 5.01 | 3.39 | 1.86 | 2.55 | 2.21 | 2.51 | 1.7 |
| Metric | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue per share | 0.39 | 1.13 | 0.47 | 2.12 | 0.65 | 0.1 | 0.53 | 0 | 1.47 | 1.42 |
| EPS (basic) | -0.76 | -0.76 | -3.32 | -8.82 | -2.57 | -3.32 | -2.58 | -2.98 | -2.42 | -2.42 |
| EPS (diluted) | -0.76 | -0.76 | -3.32 | -8.82 | -2.57 | -3.32 | -2.58 | -2.98 | -2.42 | -2.63 |
| Book value per share | -1.32 | -2.2 | -4.92 | 39.9 | 11.5 | 7.15 | 7.87 | 9.47 | 8.73 | 7.38 |
| FCF per share | 0.52 | -1.33 | -2.69 | -8.07 | -2.82 | -3.04 | -2.01 | -2.57 | -1.89 | -2.22 |
| Cash per share | 1.61 | 7.33 | 3.35 | 43 | 8.94 | 6.6 | 7.37 | 7.88 | 6.95 | 6.54 |
| Capex per share | 0.04 | 0.03 | 0.22 | 0.16 | 0.33 | 0.36 | 0.07 | 0.07 | — | — |
| Metric | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|---|
| Capex / revenue | 9.48% | 2.93% | 45.8% | 7.35% | 50.5% | 368.7% | 13.4% | 10.2K% | — | — |
| Capex / operating cash flow | 6.65% | -2.47% | -7.53% | -1.99% | -13.7% | -12.6% | -3.61% | -2.86% | — | — |
| Payout ratio | — | — | — | — | — | — | — | — | — | 0% |
| FY21 |
| — |
| -$2.57 |
| — |
| — |
| $18M |
| — |
| FY20 | — | -$8.82 | — | — | $13.6M | — |
| FY19 | — | -$3.32 | — | — | $7M | — |
| FY18 | — | -$0.76 | — | — | $14.1M | — |
| FY17 | — | -$0.76 | — | — | $5.8M | — |
| 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 | $20.2M | -$19K | $28K | $5K | $3K | $1K | $14K | $15K | $90K | $85.1M | $3M | $3.8M |
| YoY change | +3.9K% | -101.5% | -90.6% | -97.9% | -100% | +105.3% | -50% | +200% | +2.9K% | +8.5M% | +21.7K% | +25.1K% |
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 | 23.9M | 91.8M | 49.7M | 276.7M | 247.8M | 213.6M | 288.2M | 424.9M | 402.7M |
| Receivables | 321K | 1.1M | 978K | 1.5M | 47K | 0 | — | — | — |
| Inventory | — | — | — | — | — | — | — | — | — |
| Total current assets | 24.5M | 94.1M | 52.5M | 282.7M | 256.3M | 220.5M | 296.6M | 434.9M | 413.1M |
| Property, plant & equipment | 2.7M | 2.5M | 5M | 5.1M | 29M | 35.3M | 31.7M | 19.5M | 14.9M |
| Goodwill & intangibles | — | — | — | — | — | — | — | — | — |
| Total assets | 27.3M | 97M | 58.2M | 288.3M | 353.5M | 261.8M | 339.9M | 560.4M | 566.7M |
| Accounts payable | 460K | 954K | 1.7M | 1.8M | 4.8M | 3.3M | 3.5M | 4.4M | 11.2M |
| Short-term debt | — | — | — | — | 1.2M | 2.7M | 3.1M | 5.6M | 5.6M |
| Total current liabilities | 5.9M | 8.1M | 13M | 16.7M | 16.3M | 15.7M | 19M | 29.1M | 44M |
| Long-term debt | — | — | — | 0 | 15.2M | 13.5M | 11.5M | 19M | 15.8M |
| Total liabilities | 46.9M | 124.6M | 131.2M | 31.9M | 34.4M | 30.5M | 32.1M | 49.8M | 61M |
| Shareholders' equity | -19.6M | -27.6M | -73M | 256.4M | 319.1M | 231.3M | 307.8M | 510.6M | 505.7M |
| Total debt | — | — | — | 0 | 16.4M | 16.1M | 14.7M | 24.6M | 21.4M |
| Net debt | — | — | — | -276.7M | -136.6M | -36.2M | -234.4M | -124.7M | -38.8M |
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 | 319.7M | 288.2M | 525.9M | 541.9M | 501.9M | 424.9M | 321.4M | 293.2M | 305.1M | 402.7M | 390.9M | 361.3M |
| Receivables | — | — | — | — | — | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current assets | 328.2M | 296.6M | 535.6M | 552.6M | 510.8M | 434.9M | 332.6M | 303.3M | 312.4M | 413.1M | 405.4M | 383M |
| Property, plant & equipment | 32.7M | 31.7M | 19.5M | 29.4M | 19.9M | 19.5M | 39.1M | 37.2M | 35.1M | 14.9M | 13.6M | 12.4M |
| Goodwill & intangibles | — | — | — | — | — | — | — | — | — | — | — | — |
| Total assets | 361.6M | 339.9M | 629.9M | 620.1M | 604M | 560.4M | 515.7M | 473.6M | 424M | 566.7M | 512.9M | 492.6M |
| Accounts payable | 4.7M | 3.5M | 4.2M | 3.4M | 2.9M | 4.4M | 4.2M | 8.7M | 6.9M | 11.2M | 14.7M | 12.5M |
| Short-term debt | 3.1M | 3.1M | 3.2M | 3.2M | 5.1M | 5.6M | 5.7M | 5.7M | 5.7M | 5.6M | 5.5M | 5.4M |
| Total current liabilities | 18.2M | 19M | 16.4M | 19.4M | 29.5M | 29.1M | 26.9M | 34.7M | 37.1M | 44M | 43.4M | 47.7M |
| Long-term debt | 12M | 11.5M | 11M | 10.5M | 19.7M | 19M | 18.2M | 17.4M | 16.6M | 15.8M | 15M | 33.8M |
| Total liabilities | 31.7M | 32.1M | 29.3M | 31.8M | 51.1M | 49.8M | 46M | 52.7M | 55M | 61M | 61.1M | 85M |
| Shareholders' equity | 329.9M | 307.8M | 600.6M | 588.3M | 552.9M | 510.6M | 469.7M | 420.9M | 369M | 505.7M | 451.8M | 407.7M |
| Total debt | 15.2M | 14.7M | 14.2M | 13.7M | 24.8M | 24.6M | 23.9M | 23.1M | 22.3M | 21.4M | 20.5M | 39.2M |
| Net debt | -260.5M | -234.4M | -261.4M | -175.4M | -162.7M | -124.7M | -109.7M | -54.1M | -26.3M | -38.8M | -52M | -31.2M |
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 | -11.2M | -9.6M | -49.3M | -56.7M | -71.3M | -107.5M | -100.8M | -160.9M | -140.1M |
| Depreciation & amortization | 626K | 697K | 1M | 1.4M | 3M | 3.9M | 5.7M | 6.7M | 7.6M |
| Stock-based compensation | 256K | 1.4M | 3.5M | 5M | 13.8M | 17.1M | 19.7M | 26.1M | 22M |
| Change in working capital | 18.6M | -9.3M | -2.9M | -45K | -12M | -5.1M | -1.3M | -4.3M | -1.6M |
| Operating cash flow | 8.3M | -16.8M | -42.5M | -50.3M | -66.5M | -91.5M | -76.8M | -132.3M | -109.1M |
| Capital expenditure | -549K | -414K | -3.2M | -1M | -9.1M | -11.5M | -2.8M | -3.8M | — |
| Investing cash flow | 7.7M | -414K | -3.2M | -1M | -172.7M | -17.1M | 115.7M | -302.4M | -92.4M |
| Dividends paid | — | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | -2.3M | — | — | — | — | — | — |
| Financing cash flow | 16K | 84.6M | -4.5M | 278.1M | 114.3M | -468K | 148.3M | 331.4M | 110.7M |
| Net change in cash | 15.9M | 67.4M | -50.2M | 226.9M | -124.9M | -109.1M | 187.3M | -103.4M | -90.8M |
| Free cash flow | 7.7M | -16.7M | -39.9M | -51.9M | -78.2M | -98.2M | -78.6M | -138.4M | -109.6M |
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 | -10.3M | -32.3M | -32.4M | -35M | -43.8M | -49.7M | -48M | -54.7M | -56.9M | 19.4M | -68.8M | -72.9M |
| Depreciation & amortization | 1.4M | 1.5M | 1.6M | 1.6M | 1.7M | 1.8M | 1.8M | 1.9M | 2M | 2M | 2.1M | 2.1M |
| Stock-based compensation | 4.6M | 5.9M | 6M | 6.1M | 6.5M | 7.6M | 7M | 5M | 4.5M | 5.6M | 4.5M | 5.9M |
| Change in working capital | 632K | -1.6M | 191K | -2.9M | -1.5M | -161K | -3.8M | 1.4M | -2.7M | 3.5M | 3.4M | -4.1M |
| Operating cash flow | -3.7M | -26.4M | -24.6M | -30.1M | -37.1M | -40.5M | -43M | -43.4M | -46.5M | 28.6M | -68.1M | -70M |
| Capital expenditure | -405K | -549K | -710K | -349K | -1.8M | -949K | -631K | — | — | — | — | — |
| Investing cash flow | 30M | -6.7M | -263.3M | -73.5M | 27.3M | 7.1M | 31.9M | -13.8M | 17.7M | -128.9M | 68.9M | 25.6M |
| Dividends paid | — | — | — | — | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — | — | — | — | — |
| Financing cash flow | 9M | 1K | 315.7M | 15.7M | 1K | 0 | 0 | 0 | 0 | 110.7M | 9.8M | 21.8M |
| Net change in cash | 35.3M | -33.1M | 27.8M | -88M | -9.8M | -33.4M | -11.1M | -57.2M | -28.8M | 10.4M | 10.6M | -22.5M |
| Free cash flow | -1.6M | -25.2M | -29.8M | -30.6M | -31.2M | -46.8M | -48.4M | -43.4M | -46.4M | 28.6M | -68.1M | -70.1M |