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 | -$0.23 | -$0.1 | +56.5% | — | $16.1M | — |
| Q1 26 | -$0.31 | -$0.29 | +6.5% | — | $3.3M | — |
| Q4 25 | -$0.26 | -$0.37 | -42.3% | — | $9.2M | — |
| Q3 25 | -$0.3 | -$0.25 | +16.7% | — | $8.2M | — |
| Q2 25 | -$0.32 | -$0.28 | +12.5% | — | $7.6M | — |
| Q1 25 | -$0.29 | -$0.3 | -3.4% | — | $6M | — |
| Q4 24 | -$0.28 | -$0.3 | -7.1% | — | $2.9M | — |
| Q3 24 | -$0.43 | -$0.31 | +27.9% | — | $7.8M | — |
| Q2 24 | -$0.64 | -$0.45 | +29.7% | — | $6.9M | — |
| Q1 24 | -$0.59 | -$0.59 | 0.0% | — | $5M | — |
| Q4 23 | -$0.7 | -$0.57 | +18.6% | — | $5.8M | — |
| Q3 23 | -$0.65 | -$0.34 | +47.7% | — | $17.5M | — |
| Q2 23 | -$0.69 | -$0.7 | -1.4% | — | $5.6M | — |
| Q1 23 | -$0.66 | -$0.73 | -10.6% | — | $5.3M | — |
| Q4 22 | -$0.62 | -$0.69 | -11.3% | — | $4.2M | — |
| Q3 22 | -$0.62 | -$0.62 | 0.0% | — | $6.6M | — |
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 | — | -$1.18 | — | — | $30.9M | — |
| FY24 | — | -$1.58 | — | — | $22.6M | — |
| FY23 | — | -$2.34 | — | — | $34.2M | — |
| FY22 | — | -$2.62 | — | — | $19.2M | — |
| 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 | $430K | $1.3M | $19.2M | $34.2M | $22.6M | $30.9M |
| YoY change | — | 0% | +InfinityT% | +206.7% | +1.4K% | +77.6% | -33.8% | +36.8% |
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 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 0 | 0 | 430K | 1.3M | 19.2M | 34.2M | 22.6M | 30.9M |
| Cost of revenue | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — | — |
| Research & development | 21.2M | 44.4M | 57.7M | 80.3M | 105.6M | 109.7M | 94.5M | 85.5M |
| Selling, general & administrative | 4.8M | 6.7M | 11.2M | 21.7M | 30.7M | 32.4M | 28.4M | 27.6M |
| Operating expenses | 26M | 51.1M | 69M | 102.1M | 136.4M | 142.1M | 122.9M | 113M |
| Operating income | -26M | -51.1M | -68.5M | -100.7M | -117.1M | -107.9M | -100.3M | -82.1M |
| Operating margin | — | — | -15.9K% | -7.6K% | -609.2% | -315.9% | -443.7% | -265.6% |
| Non-operating income, net | -30K | 1K | -291K | 1.3M | 2.6M | 2.8M | 1.8M | -921K |
| Pretax income | -26.3M | -51.1M | -68.8M | -101.3M | -108.9M | -94.2M | -86.6M | -74.3M |
| Income tax | — | — | — | — | 0 | 4.2M | 0 | — |
| Net income | -26.3M | -51.1M | -68.8M | -101.3M | -108.9M | -98.4M | -86.6M | -74.3M |
| Net margin | — | — | -16K% | -7.7K% | -566.3% | -288.2% | -383.2% | -240.3% |
| EBITDA | -25.6M | -49.9M | -66.2M | -95M | -113.8M | -104.5M | -94.8M | -74.5M |
| EPS | -1.34 | -2.31 | -6.23 | -2.73 | -2.62 | -2.34 | -1.58 | -1.18 |
| Diluted EPS | -1.34 | -2.31 | -6.23 | -2.73 | -2.62 | -2.34 | -1.58 | -1.18 |
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 | 17.5M | 5.8M | 5M | 6.9M | 7.8M | 2.9M | 6M | 7.6M | 8.2M | 9.2M | 3.3M | 16.1M |
| Cost of revenue | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — | — | — | — | — | — |
| Research & development | 26.3M | 24.2M | 25.5M | 23.8M | 24.7M | 20.5M | 21.6M | 21.8M | 20M | 22M | 18.3M | 18.5M |
| Selling, general & administrative | 8.3M | 7M | 7.7M | 7.3M | 7M | 6.4M | 7.2M | 6.9M | 6.7M | 6.8M | 6.6M | 6.4M |
| Operating expenses | 34.6M | 31.2M | 33.2M | 31.1M | 31.7M | 26.9M | 28.9M | 28.7M | 26.7M | 28.8M | 24.8M | 24.9M |
| Operating income | -17.1M | -25.5M | -28.2M | -24.2M | -23.9M | -24M | -22.9M | -21.1M | -18.5M | -19.6M | -21.6M | -8.8M |
| Operating margin | -97.7% | -441.3% | -558.3% | -351.8% | -305.5% | -840.5% | -385% | -279.2% | -226.9% | -211.9% | -660.3% | -54.8% |
| Non-operating income, net | 721K | 678K | 739K | -1.6M | 1.2M | 1.4M | 1.4M | 852K | 620K | -3.8M | -44K | 5K |
| Pretax income | -13.6M | -22.1M | -25M | -23M | -19.1M | -19.5M | -18.8M | -17.9M | -15.8M | -21.7M | -19.9M | -7.2M |
| Income tax | 738K | 2M | 0 | 0 | 0 | 0 | — | — | — | — | — | — |
| Net income | -14.3M | -24.1M | -25M | -23M | -19.1M | -19.5M | -18.8M | -17.9M | -15.8M | -21.7M | -19.9M | -7.2M |
| Net margin | -82.1% | -417.9% | -495.4% | -333.6% | -244.9% | -682.9% | -316.4% | -237.3% | -194.4% | -234.3% | -608.4% | -44.7% |
| EBITDA | -16.2M | -24.6M | -27.4M | -21M | -23.1M | -23.2M | -22.1M | -20.2M | -17.6M | -14.5M | -21.3M | -8.6M |
| EPS | -0.34 | — | -0.59 | -0.45 | -0.31 | — | -0.3 | -0.28 | -0.25 | — | -0.29 | -0.1 |
| Diluted EPS | -0.34 | — | -0.59 | -0.45 | -0.31 | — | -0.3 | -0.28 | -0.25 | — | -0.29 | -0.1 |
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 | — | — | — | — | — | 270.7M | — | — | 209M |
| Enterprise value | — | — | — | — | — | 81.8M | — | — | 83.4M |
| Shares outstanding | 19.6M | 22.1M | 11M | 37.2M | 41.6M | 42M | 54.9M | 63M | 63M |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| P/E | — | — | — | — | — | — | — | — | -2.99 |
| P/S | — | — | — | — | — | 7.93 | — | — | 5.81 |
| P/B | — | — | — | — | — | -3.51 | — | — | -3.08 |
| EV/EBITDA | — | — | — | — | — | -0.78 | — | — | -1.26 |
| EV/Sales | — | — | — | — | — | 2.39 | — | — | 2.27 |
| Earnings yield | — | — | — | — | — | — | — | — | -33.4% |
| FCF yield | — | — | — | — | — | -44.1% | — | — | -24.9% |
| PEG | — | — | — | — | — | — | — | — | 0.05 |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Operating margin | — | — | -15.9K% | -7.6K% | -609.2% | -315.9% | -443.7% | -265.6% | -54.8% |
| Net margin | — | — | -16K% | -7.7K% | -566.3% | -288.2% | -383.2% | -240.3% | -175.8% |
| ROE | 67.1% | 58.1% | -47.1% | -104.6% | -97.2K% | 127.5% | 190.3% | 68.5% | 68.5% |
| ROA | -61.2% | -228.8% | -26.9% | -19.5% | -26.9% | -34.4% | -30.5% | -37.5% | -19.9% |
| ROIC | — | — | — | — | 39.8% | 40.5% | 39.8% | — | — |
| Return on tangible assets | -61.2% | -228.8% | -26.9% | -19.5% | -26.9% | -34.4% | -30.5% | -37.5% | -31.8% |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Current ratio | 11.7 | 1.33 | 10.1 | 9.44 | 6.37 | 4.11 | 3.73 | 2.73 | 3.36 |
| Quick ratio | 11.7 | 1.33 | 10.1 | 9.44 | 6.37 | 4.11 | 3.73 | 2.73 | 3.36 |
| Debt / equity | -0.18 | -0.19 | 0.56 | 0.6 | 459.9 | -0.58 | -0.82 | -0.38 | -0.01 |
| Debt / assets | 0.16 | 0.74 | 0.32 | 0.11 | 0.13 | 0.16 | 0.13 | 0.21 | 0.21 |
| Net debt / EBITDA | 1.29 | -0.03 | 1.57 | 1.01 | 2.59 | 1.81 | 2.18 | 1.58 | 2.01 |
| Interest coverage | -70 | -93.7 | -69.3 | -52.2 | — | — | — | — | — |
| Effective tax rate | — | — | — | — | 0% | 0% | 0% | — | — |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Revenue per share | 0 | 0 | 0.04 | 0.04 | 0.46 | 0.81 | 0.41 | 0.49 | 0.55 |
| EPS (basic) | -1.34 | -2.31 | -6.23 | -2.73 | -2.62 | -2.34 | -1.58 | -1.18 | -1.18 |
| EPS (diluted) | -1.34 | -2.31 | -6.23 | -2.73 | -2.62 | -2.34 | -1.58 | -1.18 | -0.99 |
| Book value per share | -2 | -3.98 | 13.2 | 2.61 | 0 | -1.84 | -0.83 | -1.72 | -1.38 |
| FCF per share | -1.23 | -2.14 | -4.3 | -1.44 | 4.63 | -2.84 | -1.85 | -1.37 | -1.19 |
| Cash per share | 2.04 | 0.68 | 16.8 | 4.15 | 8.31 | 5.58 | 4.44 | 2.52 | 2.82 |
| Capex per share | 0.08 | 0.04 | 1.44 | 0.09 | 0.03 | 0.03 | 0.02 | — | — |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Capex / revenue | — | — | 3.7K% | 251.2% | 6.29% | 3.58% | 4.01% | — | — |
| Capex / operating cash flow | -6.44% | -2.03% | -53.3% | -6.31% | 0.62% | -1.07% | -0.92% | — | — |
| Payout ratio | — | — | — | — | — | — | — | — | 0% |
| — |
| -$2.73 |
| — |
| — |
| $1.3M |
| — |
| FY20 | — | -$6.23 | — | — | $430K | — |
| FY19 | — | -$2.31 | — | — | $0 | — |
| FY18 | — | -$1.34 | — | — | $0 | — |
| 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 | $17.5M | $5.8M | $5M | $6.9M | $7.8M | $2.9M | $6M | $7.6M | $8.2M | $9.2M | $3.3M | $16.1M |
| YoY change | +163.5% | +37.9% | -4.88% | +23% | -55.3% | -50.5% | +17.9% | +9.71% | +4.42% | +223.8% | -45.1% | +112.7% |
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 | 40M | 15M | 185.8M | 154.3M | 345.8M | 234.1M | 243.7M | 158.9M |
| Receivables | — | — | 0 | 300M | 0 | — | — | — |
| Inventory | — | — | — | — | — | — | — | — |
| Total current assets | 40.4M | 16.9M | 190.7M | 459.6M | 351.4M | 240.2M | 249.6M | 163.2M |
| Property, plant & equipment | 2.1M | 3.7M | 62.3M | 56.1M | 49.4M | 42.9M | 10M | 32.9M |
| Goodwill & intangibles | — | — | — | — | — | — | — | — |
| Total assets | 43.1M | 22.3M | 255.6M | 519.8M | 404.9M | 285.9M | 284M | 198.1M |
| Accounts payable | 2M | 3.4M | 3.7M | 3.8M | 5.4M | 6.3M | 3.8M | 4.3M |
| Short-term debt | — | 5.5M | 4M | 7M | 6M | 8.5M | 9.1M | 923K |
| Total current liabilities | 3.5M | 12.7M | 18.8M | 48.7M | 55.2M | 58.4M | 67M | 59.7M |
| Long-term debt | 7M | 11.1M | 78M | 51.3M | 45.5M | 36.6M | 28.1M | 40.3M |
| Total liabilities | 82.3M | 110.4M | 109.4M | 422.9M | 404.8M | 363.1M | 329.5M | 306.6M |
| Shareholders' equity | -39.3M | -88M | 146.2M | 96.9M | 112K | -77.2M | -45.5M | -108.5M |
| Total debt | 7M | 16.6M | 82M | 58.3M | 51.5M | 45.1M | 37.1M | 41.3M |
| Net debt | -33M | 1.6M | -10.8M | -42.8M | -707K | -35.3M | -18.3M | -39.6M |
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 | 259.9M | 234.1M | 206.7M | 285.2M | 267.4M | 243.7M | 220.6M | 198.7M | 180.3M | 158.9M | 183.6M | 167.6M |
| Receivables | — | — | — | — | — | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current assets | 265.4M | 240.2M | 211.5M | 289.6M | 271.2M | 249.6M | 225.4M | 203.8M | 184.1M | 163.2M | 188.1M | 170M |
| Property, plant & equipment | 45.1M | 42.9M | 40.7M | 36.3M | 10.5M | 10M | 10.4M | 20.4M | 18.8M | 32.9M | 32.1M | 31.3M |
| Goodwill & intangibles | — | — | — | — | — | — | — | — | — | — | — | — |
| Total assets | 313.4M | 285.9M | 255M | 328.6M | 308.4M | 284M | 258.7M | 226.2M | 205M | 198.1M | 222.2M | 203.4M |
| Accounts payable | 6.5M | 6.3M | 5.6M | 4.8M | 3.5M | 3.8M | 4.1M | 3.3M | 3.2M | 4.3M | 3.3M | 3.2M |
| Short-term debt | 8.4M | 8.5M | 8.7M | 8.4M | 8.8M | 9.1M | 9.1M | 6.2M | 6.8M | 923K | 1.9M | 2.8M |
| Total current liabilities | 52M | 58.4M | 52.1M | 50.9M | 56.8M | 67M | 71.3M | 77.8M | 85.1M | 59.7M | 64.4M | 50.6M |
| Long-term debt | 38.7M | 36.6M | 34.3M | 32.5M | 30.3M | 28.1M | 25.7M | 17.5M | 15.8M | 40.3M | 40.1M | 40.3M |
| Total liabilities | 370.8M | 363.1M | 352.5M | 342.9M | 336.7M | 329.5M | 320.3M | 302.9M | 294.6M | 306.6M | 298.6M | 284.4M |
| Shareholders' equity | -57.4M | -77.2M | -97.5M | -14.3M | -28.3M | -45.5M | -61.7M | -76.7M | -89.7M | -108.5M | -76.4M | -81M |
| Total debt | 47.1M | 45.1M | 43M | 40.9M | 39.1M | 37.1M | 34.9M | 23.7M | 22.5M | 41.3M | 42M | 43.1M |
| Net debt | -23.2M | -35.3M | -36.3M | -98M | -18.6M | -18.3M | -26.2M | -48.9M | -66.8M | -39.6M | -45.7M | -25M |
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 | -26.3M | -51.1M | -68.8M | -101.3M | -108.9M | -98.4M | -86.6M | -74.3M |
| Depreciation & amortization | 379K | 693K | 1.3M | 3.2M | 3.3M | 3.5M | 3.1M | 3.3M |
| Stock-based compensation | 732K | 1.7M | 3M | 8.4M | 14.3M | 16.2M | 11.9M | 10.4M |
| Change in working capital | 1.2M | 51K | 30.2M | 32.6M | 280.4M | -40.8M | -33M | -37.2M |
| Operating cash flow | -23.9M | -47.5M | -29.9M | -52.5M | 193.8M | -114.4M | -98.9M | -86.1M |
| Capital expenditure | -1.5M | -964K | -15.9M | -3.3M | -1.2M | -1.2M | -906K | — |
| Investing cash flow | -1.5M | -964K | -108.9M | 36.2M | -244.3M | 144.4M | -29.9M | 112.1M |
| Dividends paid | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — |
| Financing cash flow | 51.6M | 23.3M | 216.3M | 21M | 0 | — | 102.8M | 540K |
| Net change in cash | 26.1M | -25.2M | 77.4M | 4.7M | -50.6M | 30M | -26M | 26.5M |
| Free cash flow | -24.2M | -47.3M | -47.5M | -53.6M | 192.4M | -119.3M | -101.3M | -86.1M |
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 | -14.3M | -24.1M | -25M | -23M | -19.1M | -19.5M | -18.8M | -17.9M | -15.8M | -21.7M | -19.9M | -7.2M |
| Depreciation & amortization | 864K | 852K | 835K | 791K | 733K | 761K | 827K | 851K | 852K | 802K | 238K | 230K |
| Stock-based compensation | 4.1M | 3.1M | 3.2M | 3.2M | 3M | 2.5M | 2.7M | 2.7M | 2.7M | 2.2M | 2.4M | 2.5M |
| Change in working capital | -19.9M | -8M | -7.8M | -9.8M | -11M | -4.5M | -7.9M | -10.7M | -9.4M | -9.1M | -3.6M | -15.1M |
| Operating cash flow | -27.9M | -26.8M | -27.3M | -27.4M | -24.9M | -19.3M | -21.8M | -21M | -18.9M | -22.3M | -25.3M | -17.8M |
| Capital expenditure | -81K | -38K | -101K | -17K | -309K | -479K | -28K | — | — | — | — | — |
| Investing cash flow | 38.4M | 37.4M | 27.1M | -18M | -61.3M | 22.3M | 29.4M | 33.9M | 35.6M | 13.2M | -17.7M | -2.9M |
| Dividends paid | — | — | — | — | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — | — | — | — | — |
| Financing cash flow | 0 | — | — | — | -390K | 0 | — | 0 | 0 | 540K | 49.7M | -31K |
| Net change in cash | 10.5M | 10.6M | -216K | -45.4M | -86.7M | 3M | 7.6M | 12.9M | 16.7M | -8.5M | 6.7M | -20.8M |
| Free cash flow | -27.3M | -27.6M | -29.4M | -25.6M | -21.3M | -25M | -24M | -21M | -18.9M | -22.3M | -25.3M | -17.9M |