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 | -$1.9 | -$0.9 | +52.6% | — | $86K | — |
| Q4 25 | -$3.33 | -$1.8 | +45.9% | — | — | — |
| Q4 23 | -$8.61 | -$6.3 | +26.8% | — | — | — |
| Q3 23 | -$8.82 | -$12.6 | -42.9% | — | — | — |
| Q2 23 | — | -$0.01 | — | — | — | — |
| Q1 23 | — | -$0.01 | — | — | — | — |
| Q4 22 | -$13.9 | -$2.52 | +81.8% | — | — | — |
| Q3 22 | — | -$0.03 | — | — | — | — |
| Q2 22 | — | -$0.01 | — | — | — | — |
| Q1 22 | — | -$0.1 | — | — | — | — |
| Q4 21 | -$0.08 | -$0.06 | +25.0% | — | — | — |
| Q3 21 | -$0.08 | -$0.05 | +37.5% | — | — | — |
| Q2 21 | -$0.06 | -$0.07 | -16.7% | — | — | — |
| Q1 21 | -$0.01 | -$0.02 | -100.0% | — | — | — |
| Q4 20 | -$10.1 | -$12.6 | -25.0% | — | — | — |
| Q3 20 | -$13.9 | -$12.6 | +9.1% | — | — | — |
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 | — | -$7.75 | — | — | $398K | — |
| FY24 | — | -$13.8 | — | — | $436K | — |
| FY23 | — | -$5.4 | — | — | $497K | — |
| FY22 | — | -$2.01 | — | — | $550K |
Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.
| Period | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 | $0 | $120K | $550K | $497K | $436K | $398K |
| YoY change | 0% | 0% | 0% | 0% | 0% | +InfinityT% | +358.3% | -9.64% | -12.3% | -8.72% |
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 | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | 0 | 0 | 120K | 550K | 497K | 436K | 398K |
| Cost of revenue | — | — | — | — | 0 | 67K | 252K | 143K | 172K | 140K |
| Gross profit | — | — | — | — | 0 | 53K | 298K | 354K | 264K | 258K |
| Gross margin | — | — | — | — | — | 44.2% | 54.2% | 71.2% | 60.6% | 64.8% |
| Research & development | 904K | 4.1M | 8.6M | 10.2M | 8.6M | 10.2M | 11.5M | 11.6M | 9.1M | 8.6M |
| Selling, general & administrative | 2.9M | 4.8M | 4.7M | 4.8M | 4.3M | 5.8M | 6.2M | 5.1M | 3.8M | 3.8M |
| Operating expenses | 12.2M | 8.9M | 13.3M | 15M | 12.8M | 16M | 17.8M | 16.6M | 12.9M | 12.4M |
| Operating income | -3.8M | -8.9M | -13.3M | -15M | -12.8M | -15.9M | -17.5M | -16.3M | -12.7M | -12.2M |
| Operating margin | — | — | — | — | — | -13.3K% | -3.2K% | -3.3K% | -2.9K% | -3.1K% |
| Non-operating income, net | 1.8M | -7.1M | -1.5M | -563K | -2.6M | 4K | -4.4M | -2.8M | 1.1M | -67K |
| Pretax income | -1.9M | -15.9M | -14.7M | -15.4M | -15.4M | -15M | -21.7M | -18.4M | -11.1M | -12.1M |
| Income tax | — | — | — | — | — | — | — | — | — | — |
| Net income | -1.9M | -15.9M | -14.7M | -15.4M | -15.4M | -15M | -21.7M | -18.4M | -11.1M | -12.1M |
| Net margin | — | — | — | — | — | -12.5K% | -3.9K% | -3.7K% | -2.6K% | -3K% |
| EBITDA | -5.7M | -1.5M | -14.5M | -15M | -12.7M | -15.8M | -12.8M | -13.3M | -13.6M | -12M |
| EPS | -0.9 | -5.1 | -3.33 | -2.99 | -1.47 | -1.4 | -2.01 | -5.4 | -13.8 | -7.75 |
| Diluted EPS | -0.9 | -5.1 | -3.33 | -2.99 | -1.47 | -1.4 | -2.01 | -5.4 | -13.8 | -7.75 |
Revenue, gross profit, operating income, and net income per period.
Click a row to chart it; unreported figures show a dash.
| Period | Q4 22 | Q1 23 | Q2 23 | Q3 23 | Q4 23 | Q1 24 | Q2 24 | Q3 24 | Q4 24 | Q2 25 | Q4 25 | Q2 26 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 99K | 55K | 0 | 304K | 138K | 101K | 123K | 111K | 101K | 128K | — | 86K |
| Cost of revenue | 44K | 21K | 0 | 83K | 39K | 34K | 38K | 76K | 24K | 42K | — | 24K |
| Gross profit | 55K | 34K | 0 | 221K | 99K | 67K | 85K | 35K | 77K | 86K | — | 62K |
| Gross margin | 55.6% | 61.8% | — | 72.7% | 71.7% | 66.3% | 69.1% | 31.5% | 76.2% | 67.2% | — | 72.1% |
| Research & development | 3M | 3.1M | 3.1M | 2.9M | 2.4M | 2.2M | 2.4M | 2.4M | 2.2M | 2.2M | — | 1.9M |
| Selling, general & administrative | 1.6M | 1.6M | 1.2M | 1.3M | 965K | 818K | 919K | 984K | 1.1M | 881K | — | 1M |
| Operating expenses | 4.6M | 4.7M | 4.3M | 4.2M | 3.4M | 3M | 3.3M | 3.4M | 3.3M | 3M | — | 3M |
| Operating income | -4.5M | -4.6M | -4.3M | -4M | -3.3M | -2.9M | -3.2M | -3.4M | -3.2M | -3M | — | -2.9M |
| Operating margin | -4.6K% | -8.4K% | — | -1.3K% | -2.4K% | -2.9K% | -2.6K% | -3.1K% | -3.1K% | -2.3K% | — | -3.4K% |
| Non-operating income, net | — | — | — | — | — | — | — | — | — | — | — | — |
| Pretax income | -3.8M | -4.6M | -6.1M | -4.2M | -3.6M | -1.5M | -3.2M | -3.3M | -3.1M | -2.8M | — | -2.8M |
| Income tax | — | — | — | — | — | — | — | — | — | — | — | — |
| Net income | -3.8M | -4.6M | -6.1M | -4.2M | -3.6M | -1.5M | -3.2M | -3.3M | -3.1M | -2.8M | — | -2.8M |
| Net margin | -3.9K% | -8.3K% | — | -1.4K% | -2.6K% | -1.5K% | -2.6K% | -3K% | -3.1K% | -2.2K% | — | -3.3K% |
| EBITDA | -4.5M | -4.6M | -4.3M | -3.9M | -3.2M | -2.8M | -3.2M | -3.3M | -3.1M | -2.9M | — | -2.9M |
| EPS | -0.35 | -0.43 | -0.6 | -0.39 | — | -0.1 | -4.35 | -4.56 | -3.84 | -2.44 | -1.86 | -0.66 |
| Diluted EPS | -0.35 | -0.43 | -0.6 | -0.39 | — | -0.1 | -4.35 | -4.56 | -3.84 | -2.44 | -1.86 | -0.66 |
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 | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market cap | — | — | — | — | — | 2.3B | 575.2M | — | — | — | — |
| Enterprise value | — | — | — | — | — | 2.3B | 550.8M | — | — | — | — |
| Shares outstanding | 2.2M | 3.1M | 4.4M | 5.2M | 10.4M | 10.8M | 10.8M | 3.7M | 807.5K | 1.6M | 1.6M |
| Metric | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|---|---|
| P/S | — | — | — | — | — | 19.2K | 1K | — | — | — | — |
| P/B | — | — | — | — | — | 47.4 | 20 | — | — | — | — |
| EV/EBITDA | — | — | — | — | — | -143.2 | -42.9 | — | — | — | — |
| EV/Sales | — | — | — | — | — | 18.8K | 1K | — | — | — | — |
| FCF yield | — | — | — | — | — | -0.54% | -3.02% | — | — | — | — |
| Metric | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross margin | — | — | — | — | — | 44.2% | 54.2% | 71.2% | 60.6% | 64.8% | 64.8% |
| Operating margin | — | — | — | — | — | -13.3K% | -3.2K% | -3.3K% | -2.9K% | -3.1K% | -3.1K% |
| Net margin | — | — | — | — | — | -12.5K% | -3.9K% | -3.7K% | -2.6K% | -3K% | -3K% |
| ROE | -41% | -64.2% | -62.2% | -94.8% | -32.7% | -30.9% | -75.3% | -115.1% | -165.5% | -236.8% | -236.8% |
| ROA | -36.4% | -56.9% | -59% | -79.9% | -30.8% | -28.1% | -65.9% | -95.3% | -114.3% | -144.9% | -144.9% |
| Return on tangible assets | -36.4% | -56.9% | -59% | -79.9% | -30.8% | -28.1% | -65.9% | -95.3% | -114.3% | -144.9% | -144.9% |
| Metric | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current ratio | 8.44 | 21.5 | 12.8 | 5.25 | 21.9 | 17.1 | 10.4 | 7.92 | 4.5 | 3.3 | 3.3 |
| Quick ratio | 8.44 | 21.5 | 12.8 | 5.25 | 21.9 | 17.1 | 10.4 | 7.92 | 4.5 | 3.3 | 3.3 |
| Debt / equity | — | — | 0 | 0.09 | 0.03 | 0.06 | 0.07 | 0.1 | 0.23 | 0.3 | 0.3 |
| Debt / assets | — | — | 0 | 0.07 | 0.03 | 0.05 | 0.06 | 0.08 | 0.16 | 0.18 | 0.18 |
| Net debt / EBITDA | — | — | 1.11 | 0.58 | 3.37 | 2.71 | 1.9 | 1.09 | 0.41 | 0.4 | 0.4 |
| Metric | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue per share | 0 | 0 | 0 | 0 | 0 | 0.01 | 0.05 | 0.13 | 0.54 | 0.25 | 0.25 |
| EPS (basic) | -0.9 | -5.1 | -3.33 | -2.99 | -1.47 | -1.4 | -2.01 | -5.4 | -13.8 | -7.75 | -7.75 |
| EPS (diluted) | -0.9 | -5.1 | -3.33 | -2.99 | -1.47 | -1.4 | -2.01 | -5.4 | -13.8 | -7.75 | -7.75 |
| Book value per share | 2.08 | 7.89 | 5.36 | 3.16 | 4.51 | 4.52 | 2.67 | 4.34 | 8.33 | 3.27 | 3.27 |
| FCF per share | -1.06 | -1.61 | -2.78 | -2.32 | -1.11 | -1.15 | -1.61 | -4.09 | -13.8 | -6.71 | -6.71 |
| Cash per share | 1.67 | 7.69 | 3.65 | 1.96 | 4.22 | 4.24 | 2.45 | 4.38 | 8.86 | 4.01 | 4.01 |
| Capex per share | 0.03 | 0.09 | 0.17 | 0.02 | 0 | 0.02 | 0.03 | — | — | — | — |
| Metric | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Capex / revenue | — | — | — | — | — | 195.8% | 56.9% | — | — | — | — |
| Capex / operating cash flow | -19.4% | -1.94% | -5.93% | -0.77% | -0.36% | -1.83% | -1.56% | — | — | — | — |
| — |
| FY21 | — | -$1.4 | — | — | $120K | — |
| FY20 | — | -$1.47 | — | — | $0 | — |
| FY19 | — | -$2.99 | — | — | $0 | — |
| FY18 | — | -$3.33 | — | — | $0 | — |
| FY17 | — | -$5.1 | — | — | $0 | — |
| FY16 | — | -$0.9 | — | — | $0 | — |
| Period | Q4 22 | Q1 23 | Q2 23 | Q3 23 | Q4 23 | Q1 24 | Q2 24 | Q3 24 | Q4 24 | Q2 25 | Q4 25 | Q2 26 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $99K | $55K | $0 | $304K | $138K | $101K | $123K | $111K | $101K | $128K | — | $86K |
| YoY change | +23.8% | +57.1% | -100% | +49.8% | +39.4% | +83.6% | +InfinityT% | -63.5% | -26.8% | +4.07% | — | -32.8% |
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 | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & short-term investments | 3.8M | 24.2M | 16M | 10.1M | 44M | 45.6M | 26.4M | 16.1M | 7.2M | 6.3M |
| Receivables | 103.5K | 251K | — | — | — | — | 0 | 308K | 113K | 118K |
| Inventory | — | — | — | — | — | — | — | — | — | — |
| Total current assets | 3.9M | 24.7M | 16.5M | 10.7M | 44.4M | 46.4M | 27.3M | 17M | 7.8M | 6.8M |
| Property, plant & equipment | 67K | 289K | 787K | 1.9M | 1.5M | 3.1M | 2.8M | 2.3M | 1.9M | 1.5M |
| Goodwill & intangibles | — | — | — | — | — | — | — | — | — | — |
| Total assets | 5.3M | 28M | 24.9M | 19.3M | 49.9M | 53.5M | 32.9M | 19.3M | 9.7M | 8.4M |
| Accounts payable | 104K | 330K | 344K | 498K | 391K | 253K | 315K | 136K | 297K | 249K |
| Short-term debt | — | — | — | 411K | 427K | 587K | 527K | 468K | 289K | 339K |
| Total current liabilities | 457K | 1.1M | 1.3M | 2M | 2M | 2.7M | 2.6M | 2.2M | 1.7M | 2.1M |
| Long-term debt | — | — | 0 | 1M | 853K | 2.1M | 1.5M | 1.2M | 1.3M | 1.2M |
| Total liabilities | 588K | 3.2M | 1.3M | 3M | 2.9M | 4.8M | 4.1M | 3.3M | 3M | 3.2M |
| Shareholders' equity | 4.7M | 24.8M | 23.6M | 16.3M | 47M | 48.6M | 28.8M | 16M | 6.7M | 5.1M |
| Total debt | — | — | 0 | 1.4M | 1.3M | 2.7M | 2M | 1.6M | 1.6M | 1.5M |
| Net debt | — | — | -3.2M | -3.4M | -37.5M | -25.3M | -17.2M | -14M | -5.5M | -4.7M |
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 22 | Q4 22 | Q1 23 | Q2 23 | Q3 23 | Q4 23 | Q1 24 | Q2 24 | Q3 24 | Q4 24 | Q2 25 | Q2 26 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & short-term investments | 30.2M | 26.4M | 21.6M | 17.7M | 14.1M | 16.1M | 14.8M | 12M | 8.9M | 7.2M | 6.4M | 7M |
| Receivables | — | 0 | — | — | — | 308K | 241K | 211K | 430K | 113K | 33K | 16K |
| Inventory | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current assets | 31.3M | 27.3M | 22.3M | 18.4M | 15.1M | 17M | 15.8M | 12.8M | 10M | 7.8M | 6.9M | 7.4M |
| Property, plant & equipment | 2.9M | 2.8M | 2.8M | 2.6M | 2.5M | 2.3M | 2.8M | 2.6M | 2M | 1.9M | 1.7M | 1.5M |
| Goodwill & intangibles | — | — | — | — | — | — | — | — | — | — | — | — |
| Total assets | 35.7M | 32.9M | 28M | 22.3M | 18.8M | 19.3M | 18.6M | 15.4M | 12.1M | 9.7M | 8.5M | 8.9M |
| Accounts payable | 228K | 315K | 261K | 242K | 251K | 136K | 149K | 240K | 281K | 297K | 154K | 164K |
| Short-term debt | 537K | 527K | 454K | 456K | 443K | 468K | 396K | 388K | 314K | 289K | 348K | 432K |
| Total current liabilities | 2M | 2.6M | 2M | 2M | 2.3M | 2.2M | 2.1M | 2.2M | 2.2M | 1.7M | 1.7M | 2M |
| Long-term debt | 1.6M | 1.5M | 1.5M | 1.4M | 1.2M | 1.2M | 1.8M | 1.7M | 1.3M | 1.3M | 1.2M | 1.1M |
| Total liabilities | 3.6M | 4.1M | 3.5M | 3.4M | 3.6M | 3.3M | 3.9M | 3.9M | 3.5M | 3M | 2.9M | 3.1M |
| Shareholders' equity | 32.2M | 28.8M | 24.5M | 18.9M | 15.2M | 16M | 14.6M | 11.5M | 8.6M | 6.7M | 5.6M | 5.8M |
| Total debt | 2.1M | 2M | 2M | 1.8M | 1.7M | 1.6M | 2.2M | 2.1M | 1.6M | 1.6M | 1.6M | 1.6M |
| Net debt | -10.3M | -17.2M | -18.9M | -15.2M | -12.4M | -14M | -12.5M | -9.9M | -7.2M | -5.5M | -4.8M | -5.5M |
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 | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net income | -1.9M | -15.9M | -14.7M | -15.4M | -15.4M | -15M | -21.7M | -18.4M | -11.1M | -12.1M |
| Depreciation & amortization | 11K | 49K | 235K | 259K | 254K | 159K | 218K | 263K | 200K | 161K |
| Stock-based compensation | 405K | 2.5M | 2M | 1.6M | 1.2M | 2.5M | 1.8M | 1.4M | 788K | 947K |
| Change in working capital | 954.2K | -530K | 25K | 122K | -24K | -430K | -409K | -194K | 563K | 221K |
| Operating cash flow | -376.8K | -14M | -12.4M | -13.4M | -14M | -12.8M | -20M | -14.9M | -11.1M | -10.5M |
| Capital expenditure | -73K | -271K | -733K | -103K | -50K | -235K | -313K | — | — | — |
| Investing cash flow | -1.8M | -23.8M | -6.1M | 7.2M | 85K | -12.6M | 9M | 7.2M | 1.8M | 0 |
| Dividends paid | — | — | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — | — | — |
| Financing cash flow | 7.5M | 10.7M | 11.2M | 6.5M | 45M | 13.5M | 0 | 4.2M | 903K | 9.5M |
| Net change in cash | 5.4M | -27.1M | -7.3M | 292K | 31.1M | -11.9M | -11.1M | -3.5M | -8.3M | -977K |
| Free cash flow | -2.4M | -5.1M | -12.2M | -12M | -11.5M | -12.4M | -17.4M | -15.1M | -11.1M | -10.5M |
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 22 | Q4 22 | Q1 23 | Q2 23 | Q3 23 | Q4 23 | Q1 24 | Q2 24 | Q3 24 | Q4 24 | Q2 25 | Q2 26 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net income | -5.7M | -3.8M | -4.6M | -6.1M | — | — | — | -3.2M | -3.3M | -3.1M | -2.8M | -2.8M |
| Depreciation & amortization | 55K | 57K | 60K | 65K | — | — | — | 46K | 44K | 47K | 26K | 16K |
| Stock-based compensation | 433K | 443K | 345K | 412K | — | — | — | 142K | 252K | 253K | 217K | 185K |
| Change in working capital | -470K | 110K | 46K | 38K | -69K | -602K | -91K | 272K | -215K | 478K | 123K | 449K |
| Operating cash flow | -5.7M | -3.2M | -4.1M | -5.5M | -69K | -602K | -91K | -2.7M | -3.2M | -2.6M | -2.6M | -2.2M |
| Capital expenditure | -33K | -31K | -84K | -17K | — | — | — | -21K | -23K | — | — | — |
| Investing cash flow | -7.3M | 199K | 6.5M | -23K | — | — | — | -21K | -23K | 0 | 0 | — |
| Dividends paid | — | — | — | — | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | -89K | — | — | — | — |
| Financing cash flow | 0 | 0 | — | — | — | — | — | -178K | 143K | 858K | 0 | 5.2M |
| Net change in cash | -13M | -3M | 2.3M | -5.6M | -69K | -602K | -91K | -2.9M | -3.1M | -1.8M | -2.6M | 3M |
| Free cash flow | -5M | -4M | -4.6M | -3.5M | — | — | — | -2.6M | -3.3M | -2.6M | -2.6M | -2.2M |