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 | -$0.37 | -$0.43 | -16.2% | — | $9M | — |
| Q1 26 | -$0.38 | -$0.45 | -18.4% | — | $4.2M | — |
| Q4 25 | -$0.34 | -$0.55 | -61.8% | — | $2.8M | — |
| Q3 25 | -$0.35 | -$0.33 | +5.7% | — | $12.8M | — |
| Q2 25 | -$0.38 | -$0.15 | +60.5% | — | $23.2M | — |
| Q1 25 | -$0.32 | $0.57 | +278.1% | — | $84.9M | — |
| Q4 24 | $0.03 | $0.27 | +800.0% | — | $60.6M | — |
| Q3 24 | -$0.47 | -$0.29 | +38.3% | — | $9.2M | — |
| Q2 24 | -$0.54 | -$0.43 | +20.4% | — | $4.7M | — |
| Q1 24 | -$0.58 | -$0.53 | +8.6% | — | $1.1M | — |
| Q4 23 | -$0.39 | -$0.58 | -48.7% | — | $0 | — |
| Q3 23 | -$0.74 | -$0.7 | +5.4% | — | $0 | — |
| Q2 23 | -$0.69 | -$0.71 | -2.9% | — | $0 | — |
| Q1 23 | -$0.68 | -$0.65 | +4.4% | — | $0 | — |
| Q4 22 | -$0.62 | -$0.63 | -1.6% | — | $0 | — |
| Q3 22 | -$0.59 | -$0.58 | +1.7% | — | $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 | — | -$0.59 | — | — | $123.7M | — |
| FY24 | — | -$1.18 | — | — | $75.6M | — |
| FY23 | — | -$2.63 | — | — | $0 | — |
| FY22 | — | -$2.3 | — | — | $0 | — |
| FY21 | — | -$2.96 |
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 | $75.6M | $123.7M |
| YoY change | — | 0% | 0% | 0% | 0% | +InfinityT% | +63.5% |
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 |
|---|
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 | 75.6M | 123.7M |
| Cost of revenue | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — |
| Research & development | 7.3M | 24M | 57.2M | 85.1M | 111.3M | 121.6M | 141.5M |
| Selling, general & administrative | 644K | 4M | 15.7M | 27.3M | 32M | 35.2M | 36.4M |
| Operating expenses | 8M | 28M | 72.9M | 112.4M | 143.3M | 156.7M | 177.9M |
| Operating income | -8M | -28M | -72.9M | -112.4M | -143.3M | -81.1M | -54.2M |
| Operating margin | — | — | — | — | — | -107.3% | -43.8% |
| Non-operating income, net | 255K | -7.9M | -1.1M | 119K | -1M | 416K | 1.5M |
| Pretax income | -7.7M | -35.9M | -74M | -108.5M | -135M | -70.1M | -39.7M |
| Income tax | — | — | — | 0 | 338K | 2.6M | -1.1M |
| Net income | -7.7M | -35.9M | -74M | -108.5M | -135.4M | -72.7M | -38.6M |
| Net margin | — | — | — | — | — | -96.1% | -31.2% |
| EBITDA | -7.6M | -27.3M | -70.6M | -108.8M | -136.1M | -73.4M | -47.4M |
| EPS | -0.69 | -1.65 | -2.96 | -2.3 | -2.63 | -1.18 | -0.59 |
| Diluted EPS | -0.69 | -1.65 | -2.96 | -2.3 | -2.63 | -1.18 | -0.59 |
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 | 1.1M | 4.7M | 9.2M | 60.6M | 84.9M | 23.2M | 12.8M | 2.8M | 4.2M | 9M |
| Cost of revenue | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — | — | — | — | — | — |
| Research & development | 28.3M | 27.1M | 27M | 28.1M | 27.6M | 38.9M | 32.2M | 30.7M | 36.7M | 42M | 44.1M | 48M |
| Selling, general & administrative | 8.7M | 7.7M | 9M | 9.3M | 8.1M | 8.8M | 8.7M | 8.1M | 9.1M | 10.5M | 10.2M | 10.1M |
| Operating expenses | 37M | 34.9M | 36M | 37.3M | 35.7M | 47.6M | 40.9M | 38.7M | 45.7M | 52.5M | 54.2M | 58.1M |
| Operating income | -37M | -34.9M | -34.9M | -32.6M | -26.5M | 13M | 44M | -15.6M | -33M | -49.7M | -50M | -49.1M |
| Operating margin | — | — | -3.3K% | -695.3% | -287.8% | 21.4% | 51.9% | -67.1% | -258.3% | -1.8K% | -1.2K% | -547.8% |
| Non-operating income, net | 27K | -779K | 620K | -53K | -153K | 2K | 232K | 1.4M | -29K | -50K | -8K | 25K |
| Pretax income | -34.7M | -33.3M | -31.9M | -30.1M | -23.8M | 15.6M | 47.7M | -11.1M | -30.3M | -46.1M | -44.5M | -43.2M |
| Income tax | 170K | -22K | 83K | 252K | 71K | 2.2M | 822K | 1.2M | -3.2M | 59K | 52K | 208K |
| Net income | -34.9M | -33.3M | -32M | -30.3M | -23.9M | 13.4M | 46.9M | -12.3M | -27.1M | -46.1M | -44.5M | -43.4M |
| Net margin | — | — | -3K% | -645.6% | -258.9% | 22.2% | 55.2% | -53% | -212.1% | -1.7K% | -1.1K% | -483.9% |
| EBITDA | -35.2M | -32.2M | -33.7M | -30.5M | -24.3M | 15.1M | 45.9M | -14.8M | -30.9M | -47.6M | -48M | -47.2M |
| EPS | -0.7 | -0.58 | -0.53 | -0.43 | -0.29 | 0.22 | 0.57 | -0.2 | -0.44 | -0.7 | -0.53 | -0.51 |
| Diluted EPS | -0.7 | -0.58 | -0.53 | -0.43 | -0.29 | 0.22 | 0.57 | -0.2 | -0.44 | -0.7 | -0.53 | -0.51 |
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 | — | — | — | — | — | — | — | 999M |
| Enterprise value | — | — | — | — | — | — | — | 421M |
| Shares outstanding | 11.1M | 21.7M | 25M | 47.2M | 51.4M | 61.5M | 65.5M | 65.5M |
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| P/E | — | — | — | — | — | — | — | 49.2 |
| P/S | — | — | — | — | — | — | — | 35 |
| P/B | — | — | — | — | — | — | — | 2.06 |
| EV/EBITDA | — | — | — | — | — | — | — | -2.42 |
| EV/Sales | — | — | — | — | — | — | — | 14.7 |
| Earnings yield | — | — | — | — | — | — | — | 2.03% |
| FCF yield | — | — | — | — | — | — | — | -7.45% |
| PEG | — | — | — | — | — | — | — | 0.32 |
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| Operating margin | — | — | — | — | — | -107.3% | -43.8% | -547.8% |
| Net margin | — | — | — | — | — | -96.1% | -31.2% | 0% |
| ROE | 63.7% | 73.6% | -21.3% | -40% | -75.5% | -32.6% | -16.6% | -42.7% |
| ROA | -69.8% | -72.7% | -20.2% | -31.7% | -44.6% | -16.6% | -8.61% | -21.6% |
| ROIC | — | — | — | -202.2% | 2K% | 76.2% | 51.7% | 189.8% |
| Return on tangible assets | -69.8% | -72.7% | -20.2% | -31.7% | -44.6% | -16.6% | -8.61% | -23.3% |
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| Current ratio | 2.27 | 1.49 | 21 | 10.8 | 5.07 | 2.4 | 6.12 | 10.6 |
| Quick ratio | 2.27 | 1.49 | 21 | 10.8 | 5.07 | 2.4 | 6.12 | 10.6 |
| Debt / equity | -0.06 | — | 0 | 0.17 | 0.26 | 0.19 | 0.17 | 0.08 |
| Debt / assets | 0.07 | — | 0 | 0.14 | 0.15 | 0.1 | 0.09 | 0.05 |
| Net debt / EBITDA | 0.69 | — | 4.9 | 1.98 | 1.37 | 4.49 | 7.13 | 3.36 |
| Interest coverage | -7.7K | — | — | — | — | — | — | — |
| Effective tax rate | — | — | — | 0% | 0% | 0% | 0% | 0% |
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| Revenue per share | 0 | 0 | 0 | 0 | 0 | 1.23 | 1.89 | 0.31 |
| EPS (basic) | -0.69 | -1.65 | -2.96 | -2.3 | -2.63 | -1.18 | -0.59 | -0.59 |
| EPS (diluted) | -0.69 | -1.65 | -2.96 | -2.3 | -2.63 | -1.18 | -0.59 | -1.75 |
| Book value per share | -1.09 | -2.24 | 13.9 | 5.75 | 3.49 | 3.62 | 3.56 | 5.72 |
| FCF per share | -0.68 | -1.22 | -2.76 | -2.23 | -1.22 | 0.62 | -0.42 | -0.38 |
| Cash per share | 0.54 | 1.92 | 13.8 | 5.57 | 4.52 | 6.05 | 5.75 | 7.28 |
| Capex per share | 0.12 | 0.16 | 0.39 | 0.27 | 0.37 | 0.06 | — | — |
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| Capex / revenue | — | — | — | — | — | 5.27% | — | — |
| Capex / operating cash flow | -27.2% | -14.9% | -14.8% | -14.3% | -42.5% | 9.42% | — | — |
| Payout ratio | — | — | — | — | — | — | — | 0% |
| — |
| — |
| $0 |
| — |
| FY20 | — | -$1.65 | — | — | $0 | — |
| FY19 | — | -$0.69 | — | — | $0 | — |
| Q2 24 |
|---|
| Q3 24 |
|---|
| Q4 24 |
|---|
| Q1 25 |
|---|
| Q2 25 |
|---|
| Q3 25 |
|---|
| Q4 25 |
|---|
| Q1 26 |
|---|
| Q2 26 |
|---|
| Revenue | $0 | $0 | $1.1M | $4.7M | $9.2M | $60.6M | $84.9M | $23.2M | $12.8M | $2.8M | $4.2M | $9M |
| YoY change | 0% | 0% | +InfinityT% | +InfinityT% | +InfinityT% | +InfinityT% | +7.9K% | +394% | +38.5% | -95.4% | -95% | -61.3% |
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 | 6M | 41.7M | 346.1M | 262.8M | 232.4M | 372.1M | 377.1M |
| Receivables | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — |
| Total current assets | 9.8M | 43.6M | 348.7M | 275.9M | 236.2M | 377.4M | 393.2M |
| Property, plant & equipment | — | 4.6M | 12.3M | 61.9M | 62.6M | 56.3M | 50.4M |
| Goodwill & intangibles | — | — | — | — | — | — | — |
| Total assets | 11.1M | 49.4M | 366.3M | 342.4M | 303.8M | 438.7M | 448.7M |
| Accounts payable | 3.2M | 7.1M | 6.6M | 7.9M | 11.2M | 17.2M | 3.5M |
| Short-term debt | 750K | — | — | 3.1M | 3.2M | 3.7M | 4.4M |
| Total current liabilities | 4.3M | 29.3M | 16.6M | 25.6M | 46.6M | 156.9M | 64.2M |
| Long-term debt | — | — | 0 | 43.9M | 42.9M | 39M | 34.8M |
| Total liabilities | 23.2M | 98.1M | 18.8M | 71M | 124.5M | 215.8M | 215.6M |
| Shareholders' equity | -12.1M | -48.7M | 347.5M | 271.4M | 179.3M | 222.9M | 233.1M |
| Total debt | 750K | — | 0 | 47M | 46M | 42.7M | 39.2M |
| Net debt | -5.2M | — | -346.1M | -7.9M | -82.1M | -181.5M | -90.7M |
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 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 | 178.5M | 232.4M | 192.9M | 262.2M | 242.2M | 372.1M | 326.1M | 290.6M | 391.3M | 377.1M | 666.2M | 621.1M |
| Receivables | — | — | — | 9M | — | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current assets | 182.9M | 236.2M | 199M | 277.9M | 251.2M | 377.4M | 332.3M | 299.5M | 401.8M | 393.2M | 677.5M | 631.4M |
| Property, plant & equipment | 64.4M | 62.6M | 62.5M | 61.1M | 58.8M | 56.3M | 55.6M | 54.7M | 52.7M | 50.4M | 53.1M | 54M |
| Goodwill & intangibles | — | — | — | — | — | — | — | — | — | — | — | — |
| Total assets | 252.1M | 303.8M | 266.7M | 344.1M | 315.1M | 438.7M | 393.2M | 359.6M | 459.8M | 448.7M | 736.4M | 691.2M |
| Accounts payable | 5.5M | 11.2M | 6.8M | 6.5M | 4M | 17.2M | 6.5M | 5.6M | 14.5M | 3.5M | 7.9M | 7.2M |
| Short-term debt | 2.9M | 3.2M | 3.3M | 3.5M | 3.6M | 3.7M | 3.9M | 4.1M | 4.2M | 4.4M | 4.5M | 4.6M |
| Total current liabilities | 22.6M | 46.6M | 41.3M | 42.3M | 41.6M | 156.9M | 59.2M | 41.9M | 61.4M | 64.2M | 71M | 59.7M |
| Long-term debt | 43.5M | 42.9M | 41.8M | 40.9M | 40.1M | 39M | 38M | 37M | 35.9M | 34.8M | 34.6M | 33.4M |
| Total liabilities | 67.6M | 124.5M | 114.2M | 119.4M | 109.6M | 215.8M | 118M | 91.5M | 214M | 215.6M | 214.5M | 203.9M |
| Shareholders' equity | 184.5M | 179.3M | 152.5M | 224.7M | 205.5M | 222.9M | 275.2M | 268.1M | 245.8M | 233.1M | 521.9M | 487.3M |
| Total debt | 46.4M | 46M | 45.2M | 44.4M | 43.7M | 42.7M | 41.9M | 41.1M | 40.2M | 39.2M | 39.1M | 38M |
| Net debt | -12.7M | -82.1M | -54.6M | -64.5M | -81.9M | -181.5M | -36.7M | -28.3M | -168.2M | -90.7M | -120.8M | -52.1M |
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 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|
| Net income | -7.7M | -35.9M | -74M | -108.5M | -135.4M | -72.7M | -38.6M |
| Depreciation & amortization | 72K | 537K | 2.1M | 3.7M | 6.2M | 8.1M | 8.4M |
| Stock-based compensation | 0 | 354K | 5.2M | 11.7M | 16.7M | 18.1M | 18.9M |
| Change in working capital | 2.9M | 4.5M | 403K | -1M | 67.8M | 88.8M | -17.6M |
| Operating cash flow | -5.1M | -22.8M | -65.3M | -89.3M | -44.6M | 42.3M | -22.8M |
| Capital expenditure | -1.4M | -3.4M | -9.7M | -12.8M | -19M | -4M | — |
| Investing cash flow | -1.4M | -3.4M | -9.7M | -219.2M | 88.8M | -44.5M | -97.1M |
| Dividends paid | — | — | — | — | — | — | — |
| Share repurchases | 0 | -440K | — | — | — | -641K | -357K |
| Financing cash flow | 15M | 59.6M | 377.4M | 19.7M | -116K | 47.3M | 23.9M |
| Net change in cash | 8.5M | 33.4M | 302.5M | -288.8M | 44.1M | 45.2M | -96M |
| Free cash flow | -7.6M | -26.4M | -69.1M | -105.4M | -62.8M | 38M | -27.5M |
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 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 | -34.9M | -33.3M | -32M | -30.3M | -23.9M | 13.4M | 46.9M | -12.3M | -27.1M | -46.1M | -44.5M | -43.4M |
| Depreciation & amortization | 1.8M | 1.8M | 1.9M | 2.1M | 2.1M | 2.1M | 2M | 2.1M | 2.1M | 2.1M | 2M | 1.9M |
| Stock-based compensation | 4.5M | 4.1M | 4.9M | 4.5M | 4.3M | 4.5M | 5.3M | 4.9M | 4.4M | 4.3M | 5.9M | 6M |
| Change in working capital | 1.8M | 55.6M | -6.7M | -4.8M | -2.2M | 102.6M | -96M | -24.5M | 116.4M | -13.5M | 6.8M | -11.2M |
| Operating cash flow | -26.8M | 28.3M | -31.9M | -28.6M | -19.7M | 122.6M | -41.8M | -34.7M | 100.4M | -43M | -37.4M | -44.1M |
| Capital expenditure | -1.7M | -1.7M | -1.4M | -2M | -399K | -183K | -1.6M | — | — | — | — | — |
| Investing cash flow | 35.6M | 14.3M | 9.9M | -61.2M | 37.7M | -30.9M | -100.2M | 27M | 38.8M | -64.3M | -259.1M | -24.1M |
| Dividends paid | — | — | — | — | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | 0 | — | — | — | -357K | — | — |
| Financing cash flow | 0 | — | — | — | 0 | -47M | — | 0 | 0 | 23.9M | 323.8M | 0 |
| Net change in cash | 8.9M | 42.6M | -22.1M | -89.8M | 18M | 44.7M | -142M | -7.7M | 139.2M | -83.4M | 27.3M | -68.3M |
| Free cash flow | -26.4M | 27.9M | -39.5M | -29.8M | -21.4M | 128.7M | -47.1M | -36.4M | 99.8M | -43.8M | -39.2M | -48.8M |