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 | -$0.38 | -$0.49 | -28.9% | — | $0 | — |
| Q1 26 | -$0.33 | -$0.35 | -6.1% | — | $0 | — |
| Q4 25 | -$0.37 | $0.2 | +154.1% | — | $0 | — |
| Q3 25 | -$0.37 | -$0.37 | 0.0% | — | $0 | — |
| Q2 25 | -$0.28 | -$0.36 | -28.6% | — | $0 | — |
| Q1 25 | -$0.23 | -$0.27 | -17.4% | — | $0 | — |
| Q4 24 | -$0.17 | -$0.22 | -29.4% | — | $0 | — |
| Q3 24 | -$0.19 | -$0.2 | -5.3% | — | $0 | — |
| Q2 24 | -$0.23 | -$0.18 | +21.7% | — | $0 | — |
| Q1 24 | -$0.22 | -$0.19 | +13.6% | — | $0 | — |
| Q4 23 | -$0.21 | -$0.16 | +23.8% | — | $0 | — |
| Q3 23 | -$0.22 | -$0.21 | +4.5% | — | $0 | — |
| Q2 23 | -$0.27 | -$0.2 | +25.9% | — | $0 | — |
| Q1 23 | -$0.37 | -$0.25 | +32.4% | — | $0 | — |
| Q4 22 | -$0.54 | -$1.17 | -116.7% | — | $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 | — | -$1.99 | — | — | $0 | — |
| FY24 | — | -$2.14 | — | — | $0 | — |
| FY23 | — | -$2.43 | — | — | $0 | — |
| FY22 | — | -$1.38 | — | — | $0 | — |
| FY21 | — | -$1.72 | — |
Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.
| Period | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 | $0 | $0 |
| YoY change | — | 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 | Q3 24 | Q4 24 | Q1 25 |
|---|
Revenue, gross profit, operating income, and net income per period.
Click a row to chart it; unreported figures show a dash.
| Period | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | 0 | 0 | 0 |
| Cost of revenue | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — |
| Research & development | 12.4M | 29.1M | 36.2M | 70.1M | 108.8M | 225.3M |
| Selling, general & administrative | 3.5M | 8.6M | 16.4M | 32.7M | 49.4M | 61.6M |
| Operating expenses | 15.9M | 37.7M | 52.6M | 102.8M | 158.2M | 186.8M |
| Operating income | -15.9M | -37.7M | -52.6M | -102.8M | -158.2M | -186.8M |
| Operating margin | — | — | — | — | — | — |
| Non-operating income, net | — | — | — | — | — | 10.2M |
| Pretax income | -15.7M | -37.8M | -51.3M | -89.4M | -122.2M | -140.7M |
| Income tax | 138K | 231K | 17K | 236K | 310K | 515K |
| Net income | -16M | -38M | -51.3M | -89.6M | -122.5M | -141.2M |
| Net margin | — | — | — | — | — | — |
| EBITDA | -15.9M | -37.6M | -52.3M | -102.5M | -157.2M | -195.7M |
| EPS | -0.64 | -1.72 | -1.38 | -2.43 | -2.14 | -1.99 |
| Diluted EPS | -0.64 | -1.72 | -1.38 | -2.43 | -2.14 | -1.99 |
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 | 17.5M | 20M | 20.7M | 22.1M | 32.6M | 33.5M | 42.9M | 54.7M | 59M | 68.7M | 66.5M | 100.1M |
| Selling, general & administrative | 8.6M | 11M | 11.3M | 11.3M | 13.2M | 13.6M | 13.4M | 15.7M | 14.8M | 17.6M | 22.9M | 18.6M |
| Operating expenses | 26.1M | 31M | 32M | 33.3M | 45.8M | 47.1M | 56.3M | 70.5M | 73.8M | 86.3M | 89.4M | 118.6M |
| Operating income | -26.1M | -31M | -32M | -33.3M | -45.8M | -47.1M | -56.3M | -70.5M | -73.8M | 13.7M | -89.4M | -118.6M |
| Operating margin | — | — | — | — | — | — | — | — | — | — | — | — |
| Non-operating income, net | — | — | — | — | — | — | — | — | — | — | — | — |
| Pretax income | -23.5M | -24.8M | -26M | -26M | -33.9M | -36.3M | -46.7M | -61.5M | -65.6M | 33.2M | -75.8M | -105.9M |
| Income tax | 405K | -312K | 29K | 53K | 92K | 136K | 98K | 139K | 108K | 170K | 190K | 234K |
| Net income | -23.9M | -24.5M | -26M | -26M | -34M | -36.5M | -46.8M | -61.7M | -65.7M | 33M | -76M | -106.2M |
| Net margin | — | — | — | — | — | — | — | — | — | — | — | — |
| EBITDA | -26.1M | -30.9M | -31.8M | -33.1M | -45.6M | -46.8M | -56M | -70.2M | -73.4M | 14.2M | -88.8M | -118.1M |
| EPS | -0.63 | — | -0.57 | -0.54 | -0.6 | -0.64 | -0.81 | -1.07 | -1.11 | 0.47 | -1.05 | -1.47 |
| Diluted EPS | -0.63 | — | -0.57 | -0.54 | -0.6 | -0.64 | -0.81 | -1.07 | -1.11 | 0.47 | -1.05 | -1.47 |
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 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| Market cap | — | — | — | 1.5B | — | — | 2.5B |
| Enterprise value | — | — | — | 1B | — | — | 1.2B |
| Shares outstanding | 25.1M | 25.5M | 38.2M | 36.7M | 57.3M | 70.8M | 70.8M |
| Metric | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| P/E | — | — | — | — | — | — | -17.6 |
| P/B | — | — | — | 3.31 | — | — | 1.89 |
| EV/EBITDA | — | — | — | -10.1 | — | — | -4.61 |
| Earnings yield | — | — | — | — | — | — | -5.7% |
| FCF yield | — | — | — | -5.45% | — | — | -4.76% |
| PEG | — | — | — | — | — | — | -0.47 |
| Metric | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| Operating margin | — | — | — | — | — | — | 0% |
| Net margin | — | — | — | — | — | — | 0% |
| ROE | 71.4% | 58.8% | 44.6% | -19.8% | -14.2% | -9.31% | -20.2% |
| ROA | -41.4% | -34.2% | -52.5% | -18.6% | -13.6% | -8.91% | -14.9% |
| ROIC | 26.7% | 22% | 25.5% | 1.2K% | 1.1K% | -243.7% | -1.5K% |
| Return on tangible assets | -41.4% | -34.2% | -52.5% | -18.6% | -13.6% | -8.91% | -15.1% |
| Metric | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| Current ratio | 12.6 | 12.6 | 7.16 | 19.1 | 24.7 | 24.8 | 20.8 |
| Quick ratio | 12.6 | 12.6 | 7.16 | 19.1 | 24.7 | 24.8 | 20.8 |
| Debt / equity | -0.01 | -0.01 | -0 | 0.01 | 0 | 0 | 0 |
| Debt / assets | 0.01 | 0.01 | 0 | 0.01 | 0 | 0 | 0 |
| Net debt / EBITDA | 2.34 | 2.84 | 1.73 | 4.51 | 5.59 | 7.36 | 5.02 |
| Effective tax rate | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Metric | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| Revenue per share | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (basic) | -0.64 | -1.72 | -1.38 | -2.43 | -2.14 | -1.99 | -1.99 |
| EPS (diluted) | -0.64 | -1.72 | -1.38 | -2.43 | -2.14 | -1.99 | -3.03 |
| Book value per share | -0.9 | -2.54 | -3.01 | 12.3 | 15.1 | 21.4 | 19 |
| FCF per share | -0.57 | -1.31 | -1.21 | -2.22 | -2.06 | -3.19 | -3.09 |
| Cash per share | 1.49 | 4.21 | 2.38 | 12.7 | 15.4 | 20.4 | 18.8 |
| Capex per share | 0 | 0.05 | 0 | 0.06 | 0.02 | — | — |
| Metric | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| Capex / operating cash flow | -0.13% | -3.49% | -0.33% | -2.65% | -1.23% | — | — |
| Payout ratio | — | — | — | — | — | — | 0% |
| — |
| $0 |
| — |
| FY20 | — | -$0.64 | — | — | $0 | — |
| 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 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|
| Cash & short-term investments | 37.4M | 107.3M | 90.8M | 467.3M | 883.5M | 1.4B |
| Receivables | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — |
| Total current assets | 38.4M | 109.3M | 93.1M | 473.6M | 891.2M | 1.6B |
| Property, plant & equipment | 277K | 1.8M | 1.3M | 8.4M | 7M | 12.9M |
| Goodwill & intangibles | — | — | — | — | — | — |
| Total assets | 38.7M | 111.2M | 97.8M | 482M | 903.3M | 1.6B |
| Accounts payable | 1.5M | 3.5M | 6M | 4.7M | 8M | 13.9M |
| Short-term debt | 147K | 349K | 260K | 1.4M | 1.7M | 2.9M |
| Total current liabilities | 3M | 8.7M | 13M | 24.7M | 36M | 63.3M |
| Long-term debt | 133K | 272K | 0 | 4M | 2.2M | 3.6M |
| Total liabilities | 61.2M | 175.9M | 213M | 29.1M | 38.5M | 67.5M |
| Shareholders' equity | -22.5M | -64.7M | -115.1M | 453M | 864.8M | 1.5B |
| Total debt | 280K | 621K | 260K | 5.5M | 3.9M | 6.5M |
| Net debt | -16.1M | -104.7M | -25.8M | -124.3M | -165.6M | -793.1M |
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 | 205.4M | 467.3M | 436.4M | 927.1M | 915.3M | 883.5M | 836.9M | 786.5M | 799M | 1.4B | 1.5B | 1.3B |
| Receivables | — | — | — | — | — | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current assets | 210M | 473.6M | 449.4M | 937.6M | 923.7M | 891.2M | 849.6M | 799.3M | 814M | 1.6B | 1.5B | 1.4B |
| Property, plant & equipment | 6.1M | 8.4M | 7.8M | 7.6M | 7.7M | 7M | 10.8M | 10.9M | 11.5M | 12.9M | 12M | 12.4M |
| Goodwill & intangibles | — | — | — | — | — | — | — | — | — | — | — | — |
| Total assets | 216.4M | 482M | 457.2M | 947M | 933.2M | 903.3M | 866.5M | 816.4M | 832.2M | 1.6B | 1.5B | 1.4B |
| Accounts payable | 3.3M | 4.7M | 6.5M | 2.2M | 8.4M | 8M | 8.7M | 9M | 17.8M | 13.9M | 7.8M | 11.1M |
| Short-term debt | 817K | 1.4M | 1.6M | 1.6M | 1.7M | 1.7M | 2.5M | 2.7M | 2.8M | 2.9M | 2.6M | 2.6M |
| Total current liabilities | 20.1M | 24.7M | 23.6M | 22.7M | 33.4M | 36M | 36.5M | 39M | 57.5M | 63.3M | 57M | 66.1M |
| Long-term debt | 3M | 4M | 3.5M | 3M | 2.7M | 2.2M | 5.1M | 5M | 4.3M | 3.6M | 3.2M | 3.6M |
| Total liabilities | 23.4M | 29.1M | 27.4M | 26M | 36.4M | 38.5M | 41.9M | 44.4M | 62.1M | 67.5M | 61M | 71M |
| Shareholders' equity | 193M | 453M | 429.8M | 921M | 896.8M | 864.8M | 824.6M | 772.1M | 770M | 1.5B | 1.4B | 1.4B |
| Total debt | 3.9M | 5.5M | 5.1M | 4.7M | 4.4M | 3.9M | 7.6M | 7.7M | 7.1M | 6.5M | 5.8M | 6.2M |
| Net debt | -46.8M | -124.3M | -92.7M | -377M | -167.7M | -165.6M | -144.5M | -139.3M | -95.8M | -793.1M | -310.4M | -266.4M |
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 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|
| Net income | -15.9M | -38M | -51.3M | -89.6M | -122.5M | -141.2M |
| Depreciation & amortization | 0 | 72K | 277K | 295K | 992K | 1.3M |
| Stock-based compensation | 570K | 1.5M | 2.5M | 8.2M | 18.8M | 29M |
| Change in working capital | 1.1M | 1.7M | 1.7M | -1.2M | -3.3M | -93.1M |
| Operating cash flow | -14.2M | -34.6M | -46.5M | -81.6M | -104.5M | -222.2M |
| Capital expenditure | -19K | -1.2M | -155K | -2.2M | -1.3M | — |
| Investing cash flow | -21.1M | 17.9M | -62.1M | -268.3M | -358.9M | 93.4M |
| Dividends paid | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — |
| Financing cash flow | 25.8M | 103.2M | 29M | 450.7M | 512.8M | 663.1M |
| Net change in cash | -9.5M | 86.5M | -79.6M | 100.8M | 49.4M | 534.3M |
| Free cash flow | -14.3M | -33.4M | -46.3M | -81.7M | -117.9M | -225.8M |
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 | -23.9M | -24.5M | -26M | -26M | -34M | -36.5M | -46.8M | -61.7M | -65.7M | 33M | -76M | -106.2M |
| Depreciation & amortization | 79K | 72K | 222K | 232K | 265K | 273K | 274K | 291K | 356K | 412K | 576K | 551K |
| Stock-based compensation | 1.9M | 2.1M | 2.7M | 4.2M | 6M | 5.8M | 5.9M | 7.5M | 7.5M | 8.1M | 11.6M | 12.6M |
| Change in working capital | -2.4M | 1.3M | 1.5M | -6.6M | 6M | -4.2M | -763K | -459K | 7.8M | 272K | 89.7M | -32.8M |
| Operating cash flow | -24.1M | -20.8M | -21.1M | -27.8M | -21.4M | -34.1M | -41M | -54.6M | -51M | -64.4M | 15.2M | -120.1M |
| Capital expenditure | -820K | -1.2M | -162K | -427K | -685K | -16K | -314K | — | — | — | — | — |
| Investing cash flow | 30.1M | -180.7M | 1.4M | -204.5M | -189M | 33.2M | 34M | 49.2M | -52.9M | 62.8M | -495.8M | 74.5M |
| Dividends paid | — | — | — | — | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — | — | — | — | — |
| Financing cash flow | 0 | 281.5M | -53K | 514M | -1.2M | 0 | -156K | 0 | 55.8M | 607.4M | -2.6M | 0 |
| Net change in cash | 6M | 80M | -19.8M | 281.7M | -211.6M | -906K | -7.1M | -5.4M | -48.1M | 605.8M | -483.1M | -45.7M |
| Free cash flow | -21.4M | -22.9M | -34.2M | -26.8M | -20.4M | -36.5M | -52.5M | -54.8M | -52.6M | -65.9M | 14.1M | -120.1M |