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 | -$0.32 | $0.14 | +143.8% | — | $21M | — |
| Q1 26 | -$0.29 | -$0.28 | +3.4% | — | $0 | — |
| Q4 25 | -$0.35 | -$0.17 | +51.4% | — | $0 | — |
| Q3 25 | -$0.38 | -$0.36 | +5.3% | — | $0 | — |
| Q2 25 | -$0.37 | -$0.4 | -8.1% | — | $0 | — |
| Q1 25 | -$0.43 | -$0.4 | +7.0% | — | $0 | — |
| Q4 24 | -$0.31 | -$0.46 | -48.4% | — | $0 | — |
| Q3 24 | -$0.39 | -$0.38 | +2.6% | — | $0 | — |
| Q2 24 | -$0.39 | -$0.38 | +2.6% | — | $1.1M | — |
| Q1 24 | -$0.34 | -$0.39 | -14.7% | — | $742K | — |
| Q4 23 | -$0.41 | -$0.33 | +19.5% | — | $1.5M | — |
| Q3 23 | -$0.39 | -$0.23 | +41.0% | — | $5.9M | — |
| Q2 23 | -$0.4 | -$0.14 | +65.0% | — | $8.1M | — |
| Q1 23 | -$0.46 | -$0.34 | +26.1% | — | $4.5M | — |
| Q4 22 | -$0.51 | -$0.39 | +23.5% | — | $7.3M | — |
| Q3 22 | -$0.56 | -$0.4 | +28.6% | — | $5M | — |
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 | — | -$1.32 | — | — | $0 | — |
| FY24 | — | -$1.63 | — | — | $1.9M | — |
| FY23 | — | -$1.05 | — | — | $19.9M | — |
| FY22 | — | -$1.86 | — | — | $16.4M | — |
| FY21 | — | -$10.9 |
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 | $16.4M | $19.9M | $1.9M | $0 |
| YoY change | — | 0% | 0% | +InfinityT% | +21.6% | -90.5% | -100% |
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 |
|---|
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 | 16.4M | 19.9M | 1.9M | 0 |
| Cost of revenue | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — |
| Research & development | 6.3M | 16.6M | 35.3M | 53.8M | 41.8M | 56.4M | 44.8M |
| Selling, general & administrative | 3.6M | 5.8M | 14.8M | 18.7M | 18.7M | 19M | 15.8M |
| Operating expenses | 9.9M | 22.4M | 50.1M | 72.5M | 60.4M | 75.5M | 60.7M |
| Operating income | -9.9M | -22.4M | -50.1M | -56.1M | -40.5M | -73.6M | -60.7M |
| Operating margin | — | — | — | -341.8% | -203.1% | -3.9K% | — |
| Non-operating income, net | 60K | 7.3M | — | 338K | -1.1M | 1.1M | 2M |
| Pretax income | -10.2M | -15M | -50M | -53.8M | -37.4M | -70.5M | -60.8M |
| Income tax | — | — | — | — | — | — | — |
| Net income | -10.2M | -15M | -50M | -53.8M | -37.4M | -70.5M | -60.8M |
| Net margin | — | — | — | -328.1% | -187.4% | -3.7K% | — |
| EBITDA | -9.5M | -22.3M | -49.9M | -52.7M | -32.5M | -63.5M | -53.9M |
| EPS | -2.03 | -3.15 | -10.9 | -1.86 | -1.05 | -1.63 | -1.32 |
| Diluted EPS | -2.03 | -3.15 | -10.9 | -1.86 | -1.05 | -1.63 | -1.33 |
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 | 5.9M | 1.5M | 742K | 1.1M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 21M |
| Cost of revenue | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — | — | — | — | — | — |
| Research & development | 10.8M | 9.6M | 12.9M | 15.3M | 12.5M | 15.7M | 13.1M | 13.1M | 11.6M | 6.9M | 8.2M | 6.2M |
| Selling, general & administrative | 4.3M | 4.8M | 5M | 4.8M | 4.6M | 4.6M | 4.9M | 4.4M | 4.1M | 2.5M | 5.1M | 7.7M |
| Operating expenses | 15.1M | 14.5M | 17.9M | 20.1M | 17.1M | 20.3M | 18M | 17.5M | 15.7M | 9.4M | 13.3M | 13.8M |
| Operating income | -9.3M | -13M | -17.2M | -19M | -17.1M | -20.3M | -18M | -17.5M | -15.7M | -9.4M | -13.3M | 7.2M |
| Operating margin | -156.9% | -863.6% | -2.3K% | -1.7K% | — | — | — | — | — | — | — | 34.1% |
| Non-operating income, net | -5K | -6K | -1K | 1.1M | 97K | -94K | 168K | 11K | — | 1.8M | 674K | -3.3M |
| Pretax income | -8.3M | -12M | -16.2M | -17.2M | -16.7M | -20.4M | -18.1M | -18M | -16.4M | -8.4M | -13.5M | 3.7M |
| Income tax | — | — | — | — | — | — | — | — | — | — | — | — |
| Net income | -8.3M | -12M | -16.2M | -17.2M | -16.7M | -20.4M | -18.1M | -18M | -16.4M | -8.4M | -13.5M | 3.7M |
| Net margin | -140.5% | -799.7% | -2.2K% | -1.5K% | — | — | — | — | — | — | — | 17.5% |
| EBITDA | -6.8M | -6.2M | -14.7M | -15.1M | -15M | -18.7M | -16.4M | -16.3M | -14.6M | -6.6M | -11.8M | 10M |
| EPS | -0.23 | — | -0.39 | -0.4 | -0.38 | -0.46 | -0.4 | -0.4 | -0.36 | -0.17 | -0.28 | 0.08 |
| Diluted EPS | -0.23 | — | -0.39 | -0.43 | -0.38 | -0.46 | -0.4 | -0.4 | -0.36 | -0.2 | -0.28 | 0.08 |
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 | — | — | — | — | — | — | — | 45.2M |
| Enterprise value | — | — | — | — | — | — | — | 24.7M |
| Shares outstanding | 9M | 9M | 18.5M | 28.9M | 35.6M | 43.3M | 46M | 46M |
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| P/E | — | — | — | — | — | — | — | -0.7 |
| P/S | — | — | — | — | — | — | — | 2.15 |
| P/B | — | — | — | — | — | — | — | 2.78 |
| EV/EBITDA | — | — | — | — | — | — | — | -1.13 |
| EV/Sales | — | — | — | — | — | — | — | 1.17 |
| Earnings yield | — | — | — | — | — | — | — | -141.8% |
| FCF yield | — | — | — | — | — | — | — | -27.1% |
| PEG | — | — | — | — | — | — | — | 0.01 |
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| Operating margin | — | — | — | -341.8% | -203.1% | -3.9K% | — | 40.7% |
| Net margin | — | — | — | -328.1% | -187.4% | -3.7K% | — | -164.8% |
| ROE | 42.2% | 29% | -32.7% | -44% | -33.6% | -96.1% | -245.2% | -119.9% |
| ROA | -47.3% | -15.6% | -27.9% | -33.6% | -21.4% | -55.6% | -87.6% | -27.4% |
| Return on tangible assets | -47.3% | -15.6% | -27.9% | -33.6% | -21.4% | -55.6% | -87.6% | -143.3% |
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| Current ratio | 8.84 | 17.6 | 13.6 | 5.84 | 7.14 | 7.45 | 1.62 | 2.91 |
| Quick ratio | 8.84 | 17.6 | 13.6 | 5.84 | 7.14 | 7.45 | 1.62 | 2.91 |
| Debt / equity | -0.13 | -0.05 | 0.1 | 0.12 | 0.47 | 0.51 | 1.52 | 0 |
| Debt / assets | 0.14 | 0.03 | 0.09 | 0.09 | 0.3 | 0.29 | 0.54 | 0 |
| Net debt / EBITDA | 1.55 | 4.05 | 2.84 | 2.17 | 2.54 | 1.16 | 0.36 | 0.95 |
| Interest coverage | — | — | — | — | -10.9 | -14.1 | -10.5 | -6.6 |
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| Revenue per share | 0 | 0 | 0 | 0.57 | 0.56 | 0.04 | 0 | 0.44 |
| EPS (basic) | -2.03 | -3.15 | -10.9 | -1.86 | -1.05 | -1.63 | -1.32 | -1.32 |
| EPS (diluted) | -2.03 | -3.15 | -10.9 | -1.86 | -1.05 | -1.63 | -1.33 | -0.73 |
| Book value per share | -2.71 | -5.78 | 8.28 | 4.24 | 3.12 | 1.69 | 0.54 | 0.34 |
| FCF per share | -1.09 | -2.14 | -2.35 | -1.53 | -0.94 | -1.3 | -1.31 | -0.62 |
| Cash per share | 1.99 | 10.3 | 8.54 | 4.48 | 3.77 | 2.56 | 1.24 | 0.45 |
| Capex per share | 0.03 | 0.06 | 0.03 | 0.13 | 0.02 | 0.01 | — | — |
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| Capex / revenue | — | — | — | 22% | 3.86% | 13.5% | — | — |
| Capex / operating cash flow | -2.94% | -4.07% | -1.11% | -9.06% | -2.27% | -0.46% | — | — |
| Payout ratio | — | — | — | — | — | — | — | 0% |
| — |
| — |
| $0 |
| — |
| FY20 | — | -$3.15 | — | — | $0 | — |
| FY19 | — | -$2.03 | — | — | $0 | — |
| Q1 24 |
|---|
| Q2 24 |
|---|
| Q3 24 |
|---|
| Q4 24 |
|---|
| Q1 25 |
|---|
| Q2 25 |
|---|
| Q3 25 |
|---|
| Q4 25 |
|---|
| Q1 26 |
|---|
| Q2 26 |
|---|
| Revenue | $5.9M | $1.5M | $742K | $1.1M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $21M |
| YoY change | +18.7% | -79.4% | -83.4% | -85.9% | -100% | -100% | -100% | -100% | 0% | 0% | 0% | +InfinityT% |
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 | 17.9M | 92.6M | 157.5M | 129.3M | 134.3M | 111M | 57M |
| Receivables | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — |
| Total current assets | 18.1M | 92.9M | 161.1M | 140.2M | 138.4M | 113.1M | 58.6M |
| Property, plant & equipment | 241K | 3.1M | 16.3M | 17.5M | 14.8M | 12.3M | 9.9M |
| Goodwill & intangibles | — | — | — | — | — | — | — |
| Total assets | 21.7M | 96.4M | 179.3M | 160.2M | 174.8M | 126.9M | 69.4M |
| Accounts payable | 633K | 1M | 2M | 1.2M | 1.3M | 3M | 754K |
| Short-term debt | 595K | 677K | 1.1M | 2.1M | 8.3M | 1.6M | 30M |
| Total current liabilities | 2M | 5.3M | 11.9M | 24M | 19.4M | 15.2M | 36.1M |
| Long-term debt | 2.5M | 1.9M | 14.6M | 12.6M | 43.6M | 35.5M | 7.7M |
| Total liabilities | 46M | 148.3M | 26.5M | 37.9M | 63.5M | 53.5M | 44.6M |
| Shareholders' equity | -24.3M | -51.9M | 152.8M | 122.3M | 111.4M | 73.4M | 24.8M |
| Total debt | 3.1M | 2.5M | 15.7M | 14.7M | 51.9M | 37.1M | 37.7M |
| Net debt | -14.8M | -90M | -141.9M | -114.6M | -82.4M | -73.9M | -19.4M |
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 | 130.1M | 134.3M | 139.2M | 135.3M | 122.8M | 111M | 92M | 77.6M | 65.7M | 57M | 46.5M | 22M |
| Receivables | — | — | — | — | — | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current assets | 139.3M | 138.4M | 142.3M | 138.8M | 125.8M | 113.1M | 94.5M | 80.4M | 68.2M | 58.6M | 48.7M | 22.9M |
| Property, plant & equipment | 15.6M | 14.8M | 14M | 13.4M | 12.9M | 12.3M | 11.7M | 11.1M | 10.5M | 9.9M | 9.3M | 1.3M |
| Goodwill & intangibles | — | — | — | — | — | — | — | — | — | — | — | — |
| Total assets | 176.4M | 174.8M | 177.6M | 153.7M | 140M | 126.9M | 107.2M | 92.6M | 79.6M | 69.4M | 58M | 24.2M |
| Accounts payable | 1.4M | 1.3M | 1.6M | 1.5M | 1.2M | 3M | 986K | 2.8M | 1.1M | 754K | 3.6M | 1.9M |
| Short-term debt | 3.3M | 8.3M | 12.9M | 1.3M | 1.3M | 1.6M | 1.4M | 3.9M | 7.5M | 30M | 30.4M | — |
| Total current liabilities | 14.4M | 19.4M | 21.2M | 11.4M | 12.5M | 15.2M | 11.7M | 15.2M | 17.6M | 36.1M | 38.5M | 7.9M |
| Long-term debt | 48.9M | 43.6M | 38.4M | 35.4M | 35.5M | 35.5M | 35.6M | 33.3M | 29.8M | 7.7M | 7.2M | 0 |
| Total liabilities | 63.9M | 63.5M | 60M | 49.7M | 50.7M | 53.5M | 49.9M | 51.1M | 50M | 44.6M | 45.8M | 7.9M |
| Shareholders' equity | 112.4M | 111.4M | 117.6M | 104M | 89.4M | 73.4M | 57.3M | 41.5M | 29.6M | 24.8M | 12.2M | 16.3M |
| Total debt | 52.2M | 51.9M | 51.3M | 36.7M | 36.8M | 37.1M | 37M | 37.1M | 37.3M | 37.7M | 37.7M | 0 |
| Net debt | -77.9M | -82.4M | -87.9M | -98.6M | -86M | -73.9M | -55M | -40.5M | -28.4M | -19.4M | -8.8M | -22M |
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 | -10.2M | -15M | -50M | -53.8M | -37.4M | -70.5M | -60.8M |
| Depreciation & amortization | 25K | 150K | 216K | 1.1M | 1.8M | 1.8M | 1.6M |
| Stock-based compensation | 559K | 632K | 4.1M | 7.4M | 8M | 8.8M | 6.2M |
| Change in working capital | -329K | -131K | 86K | 3.3M | -7.2M | 1.9M | -9.1M |
| Operating cash flow | -9M | -13.8M | -45.1M | -39.9M | -33.9M | -55.8M | -60.3M |
| Capital expenditure | -266K | -560K | -498K | -3.6M | -769K | -254K | — |
| Investing cash flow | -266K | -560K | -498K | -3.6M | -769K | -254K | — |
| Dividends paid | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — |
| Financing cash flow | 21.9M | 93.8M | 109.2M | 15.7M | 58.3M | 12.9M | 5.9M |
| Net change in cash | 12.6M | 79.5M | 63.7M | -27.8M | 23.7M | -43.1M | -54.4M |
| Free cash flow | -9.8M | -19.2M | -43.4M | -44.2M | -33.4M | -56.4M | -60.3M |
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 | -8.3M | -12M | -16.2M | -17.2M | -16.7M | -20.4M | -18.1M | -18M | -16.4M | -8.4M | -13.5M | 3.7M |
| Depreciation & amortization | 445K | 460K | 464K | 454K | 454K | 442K | 426K | 406K | 402K | 400K | 398K | 2.5M |
| Stock-based compensation | 2.1M | 1.9M | 2.3M | 2.6M | 2M | 1.9M | 2M | 1.8M | 1.2M | 1.2M | 929K | 419K |
| Change in working capital | -97K | -1.4M | -3M | 694K | 2M | 2.9M | -3.9M | 1M | -1.6M | -4.2M | 1.3M | -3M |
| Operating cash flow | -5.2M | -10.6M | -16M | -13M | -11.6M | -14.5M | -18.9M | -15.2M | -15.2M | -11M | -10.6M | 6.6M |
| Capital expenditure | -221K | -198K | -111K | -17K | -3K | -123K | 0 | — | — | — | — | — |
| Investing cash flow | -221K | -198K | -111K | -17K | -3K | -123K | 0 | — | — | — | — | — |
| Dividends paid | — | — | — | — | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — | — | — | — | — |
| Financing cash flow | 19K | 8.9M | 20.2M | 30.9M | -29K | 2.5M | 0 | 347K | 3.3M | 2.3M | — | — |
| Net change in cash | -5.4M | -2M | 4.1M | 17.8M | -11.6M | -12.2M | -18.9M | -14.8M | -11.9M | -8.7M | -10.6M | 6.6M |
| Free cash flow | -7.4M | -4.8M | -15.4M | -14.2M | -12.5M | -14.4M | -18.9M | -15.2M | -15.2M | -11M | -10.6M | 6.6M |