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 | -$0.08 | -$0.22 | -175.0% | — | $51.2M | — |
| Q1 26 | -$0.07 | -$0.08 | -14.3% | — | $44.2M | — |
| Q4 25 | -$0.1 | -$0.06 | +40.0% | — | $38.3M | — |
| Q3 25 | -$0.1 | -$0.07 | +30.0% | — | $32.1M | — |
| Q2 25 | -$0.1 | -$0.1 | 0.0% | — | $26.4M | — |
| Q1 25 | -$0.14 | -$0.15 | -7.1% | — | $16.5M | — |
| Q4 24 | -$0.13 | -$0.08 | +38.5% | — | $7.6M | — |
| Q3 24 | -$0.18 | -$0.12 | +33.3% | — | $6.1M | — |
| Q2 24 | -$0.15 | -$0.2 | -33.3% | — | $1M | — |
| Q1 24 | -$0.16 | -$0.2 | -25.0% | — | $40K | — |
| Q4 23 | -$0.18 | -$0.38 | -111.1% | — | $139K | — |
| Q3 23 | -$0.18 | -$0.19 | -5.6% | — | $82K | — |
| Q2 23 | -$0.23 | -$0.32 | -39.1% | — | $41K | — |
| Q1 23 | -$0.27 | -$0.27 | 0.0% | — | $360K | — |
| Q4 22 | -$0.22 | -$0.27 | -22.7% | — | $73K | — |
| Q3 22 | -$0.21 | -$0.28 | -33.3% | — | $118K | — |
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 | — | -$0.38 | — | — | $113.3M | — |
| FY24 | — | -$0.59 | — | — | $14.7M | — |
| FY23 | — | -$1.15 | — | — | $622K | — |
| FY22 | — | -$1.04 | — | — | $240K | — |
| FY21 | — | -$0.89 |
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 | $2.2M | $605K | $934K | $240K | $622K | $14.7M | $113.3M |
| YoY change | — | -72.5% | +54.4% | -74.3% | +159.2% | +2.3K% | +668.3% |
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 | 2.2M | 605K | 934K | 240K | 622K | 14.7M | 113.3M |
| Cost of revenue | — | — | — | — | — | 0 | 753K |
| Gross profit | — | — | — | — | — | 14.7M | 112.5M |
| Gross margin | — | — | — | — | — | 100% | 99.3% |
| Research & development | 112M | 139.5M | 196M | 248.1M | 232.4M | 190.1M | 218.6M |
| Selling, general & administrative | 46.5M | 71.3M | 135.3M | 102.7M | 129.6M | 168.8M | 150M |
| Operating expenses | 158.5M | 210.8M | 331.2M | 350.9M | 362M | 358.9M | 368.6M |
| Operating income | -156.3M | -210.2M | -330.3M | -350.6M | -361.4M | -344.2M | -256M |
| Operating margin | -7.1K% | -34.7K% | -35.4K% | -146.1K% | -58.1K% | -2.3K% | -226% |
| Non-operating income, net | -856K | -8.5M | -5.5M | -5.9M | -94.2M | 82.5M | 14.3M |
| Pretax income | -160.3M | -226M | -349.8M | -417.3M | -583.9M | -413.6M | -351.6M |
| Income tax | -105K | -1.8M | 9K | 34K | -40K | 0 | -135K |
| Net income | -160.2M | -224.2M | -349.8M | -417.3M | -583.9M | -413.6M | -351.5M |
| Net margin | -7.3K% | -37.1K% | -37.5K% | -173.9K% | -93.9K% | -2.8K% | -310.2% |
| EBITDA | -140M | -194.3M | -315.8M | -342.5M | -388M | -303.4M | -282.8M |
| EPS | -0.41 | -0.58 | -0.89 | -1.04 | -1.15 | -0.59 | -0.38 |
| Diluted EPS | -0.41 | -0.58 | -0.89 | -1.04 | -1.15 | -0.62 | -0.38 |
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 | 82K | 139K | 40K | 1M | 6.1M | 7.6M | 16.5M | 26.4M | 32.1M | 38.3M | 44.2M | 51.2M |
| Cost of revenue | 0 | — | — | 0 | 0 | 0 | 58K | 136K | 177K | 382K | 238K | 298K |
| Gross profit | 82K | — | — | 1M | 6.1M | 7.6M | 16.5M | 26.3M | 31.9M | 37.9M | 44M | 50.9M |
| Gross margin | 100% | — | — | 100% | 100% | 100% | 99.6% | 99.5% | 99.4% | 99% | 99.5% | 99.4% |
| Research & development | 48.4M | 51.5M | 53.4M | 51.1M | 50.4M | 35.2M | 48.2M | 55.2M | 51.2M | 63.9M | 68M | 60.8M |
| Selling, general & administrative | 31.8M | 33.1M | 41.9M | 49.3M | 35.9M | 41.7M | 32.7M | 42.3M | 36.3M | 38.7M | 45.8M | 51.8M |
| Operating expenses | 80.2M | 84.6M | 95.2M | 100.4M | 86.4M | 77M | 80.9M | 97.6M | 87.5M | 102.6M | 113.8M | 112.6M |
| Operating income | -80.1M | -84.5M | -95.2M | -99.3M | -80.3M | -69.4M | -64.4M | -71.3M | -55.6M | -64.7M | -69.8M | -61.7M |
| Operating margin | -97.7K% | -60.8K% | -238K% | -9.5K% | -1.3K% | -919% | -390.1% | -269.8% | -173.5% | -169% | -157.9% | -120.4% |
| Non-operating income, net | 18.9M | -116.2M | -1.6M | 2.9M | 34.1M | 47M | -37.1M | 7M | 15.1M | 29.2M | -535.3M | -140.6M |
| Pretax income | -95.6M | -233.5M | -134.1M | -134.6M | -85.8M | -59.2M | -129.9M | -92.3M | -67.3M | -62.1M | -632.8M | -230.4M |
| Income tax | 0 | -40K | 0 | 0 | 0 | 0 | -234K | 269K | -35K | -135K | 9K | 0 |
| Net income | -95.6M | -233.4M | -134.1M | -134.6M | -85.8M | -59.2M | -129.7M | -92.6M | -67.3M | -62M | -632.8M | -230.4M |
| Net margin | -116.6K% | -167.9K% | -335.3K% | -12.9K% | -1.4K% | -783.6% | -785% | -350.3% | -209.8% | -161.8% | -1.4K% | -449.6% |
| EBITDA | -69.8M | -117.6M | -90.5M | -94.1M | -75.2M | -43.7M | -102.7M | -65.7M | -52.3M | -62.1M | -307.2M | -149.9M |
| EPS | -0.19 | — | -0.2 | -0.2 | -0.12 | -0.08 | -0.15 | -0.1 | -0.07 | -0.06 | -0.62 | -0.22 |
| Diluted EPS | -0.19 | — | -0.2 | -0.2 | -0.12 | -0.09 | -0.15 | -0.1 | -0.07 | -0.06 | -0.62 | -0.22 |
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 | 1.5B | 5.1B | 2.4B | 2B | — | — | — | 9B |
| Enterprise value | 1.5B | 5.3B | 2.7B | 2.6B | — | — | — | 9.9B |
| Shares outstanding | 383.2M | 383.2M | 389.2M | 399.9M | 508.6M | 697.3M | 919.9M | 919.9M |
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| P/E | — | — | — | — | — | — | — | -22.4 |
| P/S | 659.5 | 8.4K | 2.5K | 8.4K | — | — | — | 54.5 |
| P/B | — | -43.1 | -9.7 | -4.51 | — | — | — | -8.55 |
| EV/EBITDA | -10.4 | -27.2 | -8.53 | -7.72 | — | — | — | -42.1 |
| EV/Sales | 659.5 | 8.7K | 2.9K | 11K | — | — | — | 59.7 |
| Earnings yield | — | — | — | — | — | — | — | -4.47% |
| FCF yield | -10.8% | -3.39% | -13% | -21.5% | — | — | — | -2.07% |
| PEG | — | — | — | — | — | — | — | -0.19 |
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| Gross margin | — | — | — | — | — | 100% | 99.3% | 99.4% |
| Operating margin | -7.1K% | -34.7K% | -35.4K% | -146.1K% | -58.1K% | -2.3K% | -226% | -120.4% |
| Net margin | -7.3K% | -37.1K% | -37.5K% | -173.9K% | -93.9K% | -2.8K% | -310.2% | 99.3% |
| ROE | — | 189.2% | 143.4% | 92.8% | 99.6% | 84.7% | 70.4% | 70.3% |
| ROA | — | -101.3% | -74.6% | -115.2% | -115.7% | -108% | -70% | -30.5% |
| ROIC | — | -344.6% | -390.2% | -210.2% | 287.5% | 257.3% | 114.1% | 42.7% |
| Return on tangible assets | — | -102.6% | -75.1% | -129.5% | -124.2% | -117.8% | -74.2% | -164.1% |
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| Current ratio | — | 1.64 | 0.91 | 0.28 | 5.05 | 3.36 | 5.1 | 5.72 |
| Quick ratio | — | 1.64 | 0.91 | 0.28 | 5.05 | 3.21 | 5.08 | 5.7 |
| Debt / equity | — | -2.33 | -2.65 | -1.61 | -1.24 | -1.03 | -1.04 | -0.01 |
| Debt / assets | — | 1.24 | 1.38 | 2 | 1.44 | 1.32 | 1.03 | 1.29 |
| Net debt / EBITDA | — | -0.92 | -1.04 | -1.8 | -1.19 | -1.17 | -0.97 | -0.8 |
| Interest coverage | -26.1 | -23.9 | -22.6 | -5.57 | -3.52 | -2.14 | -2.12 | -7.67 |
| Effective tax rate | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| Revenue per share | 0.01 | 0 | 0 | 0 | 0 | 0.02 | 0.12 | 0.17 |
| EPS (basic) | -0.41 | -0.58 | -0.89 | -1.04 | -1.15 | -0.59 | -0.38 | -0.38 |
| EPS (diluted) | -0.41 | -0.58 | -0.89 | -1.04 | -1.15 | -0.62 | -0.38 | -0.95 |
| Book value per share | — | -0.31 | -0.63 | -1.12 | -1.15 | -0.7 | -0.54 | -0.99 |
| FCF per share | -0.41 | -0.45 | -0.79 | -1.09 | -0.78 | -0.57 | -0.34 | -0.27 |
| Cash per share | — | 0.25 | 0.81 | 0.27 | 0.52 | 0.21 | 0.26 | 0.34 |
| Capex per share | 0.01 | 0 | 0.03 | 0.2 | 0.06 | 0.01 | — | — |
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| Capex / revenue | 185.6% | 275.9% | 1.4K% | 32.6K% | 4.9K% | 46.7% | — | — |
| Capex / operating cash flow | -2.76% | -0.84% | -4.63% | -24.5% | -7.12% | -1.93% | — | — |
| Payout ratio | — | — | — | — | — | — | — | 0% |
| — |
| — |
| $934K |
| — |
| FY20 | — | -$0.58 | — | — | $605K | — |
| FY19 | — | -$0.41 | — | — | $2.2M | — |
| Q1 24 |
|---|
| Q2 24 |
|---|
| Q3 24 |
|---|
| Q4 24 |
|---|
| Q1 25 |
|---|
| Q2 25 |
|---|
| Q3 25 |
|---|
| Q4 25 |
|---|
| Q1 26 |
|---|
| Q2 26 |
|---|
| Revenue | $82K | $139K | $40K | $1M | $6.1M | $7.6M | $16.5M | $26.4M | $32.1M | $38.3M | $44.2M | $51.2M |
| YoY change | -30.5% | +90.4% | -88.9% | +2.5K% | +7.3K% | +5.3K% | +41.2K% | +2.4K% | +425.1% | +407% | +167.6% | +93.9% |
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 | 96.1M | 317.1M | 107.2M | 266.5M | 149.8M | 242.8M |
| Receivables | — | — | — | — | 2.4M | 42.6M |
| Inventory | — | — | — | — | 8.3M | 910K |
| Total current assets | 111.7M | 334.3M | 140.6M | 294.1M | 184.6M | 314.9M |
| Property, plant & equipment | 68M | 119.2M | 189.4M | 182.6M | 170.5M | 147.3M |
| Goodwill & intangibles | 2.9M | 2.8M | 40M | 34.2M | 31.9M | 27.9M |
| Total assets | 221.4M | 468.9M | 362.4M | 504.5M | 382.9M | 501.9M |
| Accounts payable | 11.5M | 11.4M | 21M | 9.2M | 6.7M | 7M |
| Short-term debt | 5M | 302.2M | 434.6M | 5.2M | 7.5M | 7.5M |
| Total current liabilities | 68.1M | 369M | 500.9M | 58.3M | 54.9M | 61.8M |
| Long-term debt | 270.5M | 343.4M | 289.2M | 721.5M | 496.7M | 510.5M |
| Total liabilities | 339.9M | 712.8M | 812.2M | 1.1B | 871.1M | 1B |
| Shareholders' equity | -118.5M | -243.9M | -449.8M | -585.9M | -488.1M | -499.6M |
| Total debt | 275.5M | 645.7M | 723.8M | 726.7M | 504.2M | 518.1M |
| Net debt | 240.6M | 464.6M | 619.1M | 461.3M | 360.7M | 429.7M |
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 | 189.8M | 266.5M | 170.5M | 218M | 130.4M | 149.8M | 61.6M | 153.7M | 257.8M | 242.8M | 380.9M | 357.4M |
| Receivables | — | — | — | 1M | 4.2M | 2.4M | 17M | 22.1M | 32M | 42.6M | 43.3M | 53.5M |
| Inventory | — | — | — | 1.8M | 2M | 8.3M | 8.4M | 6.6M | 6.7M | 910K | 547K | 1.9M |
| Total current assets | 215.1M | 294.1M | 195.7M | 242.8M | 163.2M | 184.6M | 109.2M | 208.1M | 329.5M | 314.9M | 453M | 439M |
| Property, plant & equipment | 187.8M | 182.6M | 178.7M | 175.8M | 174.2M | 170.5M | 167.1M | 167.7M | 162.8M | 147.3M | 145.8M | 145.5M |
| Goodwill & intangibles | 36.9M | 34.2M | 33.1M | 16.1M | 33M | 31.9M | 30.9M | 30M | 28.9M | 27.9M | 25.8M | 23.7M |
| Total assets | 432.4M | 504.5M | 400.7M | 444.3M | 364.6M | 382.9M | 303.8M | 402.1M | 519M | 501.9M | 646.6M | 628.5M |
| Accounts payable | 19.8M | 9.2M | 13.9M | 20.3M | 9.9M | 6.7M | 13.5M | 7.4M | 5.8M | 7M | 11.2M | 12M |
| Short-term debt | 4.4M | 5.2M | 6.1M | 6.2M | 7M | 7.5M | 7.5M | 7.4M | 7.3M | 7.5M | 7.6M | 7.5M |
| Total current liabilities | 90.3M | 58.3M | 53.8M | 62.1M | 61M | 54.9M | 49.2M | 50.6M | 57.1M | 61.8M | 68M | 76.7M |
| Long-term debt | 712.9M | 721.5M | 725.3M | 729.3M | 735.9M | 496.7M | 518.8M | 527.9M | 534.9M | 510.5M | 711.5M | 805.6M |
| Total liabilities | 843.1M | 1.1B | 1.1B | 1.1B | 1.1B | 871.1M | 894.2M | 971.9M | 1B | 1B | 1.5B | 1.7B |
| Shareholders' equity | -410.6M | -585.9M | -691M | -697.4M | -744.2M | -488.1M | -590.5M | -569.8M | -523.4M | -499.6M | -869.1M | -1B |
| Total debt | 717.3M | 726.7M | 731.4M | 735.6M | 742.9M | 504.2M | 526.3M | 535.3M | 542.3M | 518.1M | 719.2M | 813.1M |
| Net debt | 539.3M | 461.3M | 598.3M | 605.5M | 630.9M | 360.7M | 465.6M | 397.7M | 482M | 429.7M | 514M | 737.4M |
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 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|
| Net income | -160.2M | -224.2M | -349.8M | -417.3M | -583.9M | -413.6M | -351.5M |
| Depreciation & amortization | 14M | 12.7M | 14.2M | 18.3M | 18.5M | 17.6M | 15.5M |
| Stock-based compensation | 3.4M | 2.2M | 57.2M | 40.2M | 49.2M | 34.4M | 36.8M |
| Change in working capital | -9.7M | -343K | -22M | 4.5M | -8.7M | -19.6M | -52.7M |
| Operating cash flow | -148.1M | -198.4M | -282.4M | -319.1M | -429.3M | -357.1M | -304.9M |
| Capital expenditure | -4.1M | -1.7M | -13.1M | -78.2M | -30.6M | -6.9M | — |
| Investing cash flow | 18.6M | -19.8M | -84.9M | 48.5M | -30.5M | -12.2M | -145.5M |
| Dividends paid | — | — | — | — | — | — | — |
| Share repurchases | -2.5M | 0 | 0 | — | — | — | — |
| Financing cash flow | 75.2M | 150M | 842.5M | 408.3M | 561.5M | 208.2M | 402.3M |
| Net change in cash | -54.3M | -68.2M | 475.3M | 137.7M | 101.7M | -161.1M | -48.2M |
| Free cash flow | -156.4M | -173.4M | -308M | -436.9M | -397.3M | -398.1M | -309.2M |
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 | -95.6M | -233.4M | -134.1M | -134.6M | -85.8M | -59.2M | -129.7M | -92.6M | -67.3M | -62M | -632.8M | -230.4M |
| Depreciation & amortization | 4.5M | 4.6M | 4.6M | 4.4M | 4.4M | 4.2M | 3.8M | 3.9M | 4M | 3.9M | 4.4M | 4.4M |
| Stock-based compensation | 14.4M | 12.8M | 8.3M | 9.6M | 7.5M | 9M | 9.5M | 9.6M | 8.9M | 8.7M | 8.2M | 8.5M |
| Change in working capital | -3.6M | -2.7M | 3.4M | 552K | -13.5M | -10.1M | -10.2M | -10.1M | -13M | -19.4M | -4.2M | -10.6M |
| Operating cash flow | -70.3M | -173.2M | -103M | -103.6M | -69.2M | -81.3M | -111.4M | -79.7M | -68.9M | -70.4M | -75.4M | -66.5M |
| Capital expenditure | -5.7M | -8M | -1.3M | -724K | -2.8M | -2.1M | -1.1M | — | — | — | — | — |
| Investing cash flow | -15.6M | 2.2M | -35.6M | -51.5M | 66M | 9.8M | 4.1M | -15.1M | -180.6M | 44.8M | -29.9M | -103.9M |
| Dividends paid | — | — | 0 | — | — | — | 0 | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — | — | — | — | — |
| Financing cash flow | 238.9M | 9.3M | -3.9M | 104.4M | -22K | 107.7M | 0 | 173.1M | 173.7M | 53.7M | 176.4M | 44.1M |
| Net change in cash | 153M | -161.6M | -142.5M | -50.7M | -3.2M | 36.2M | -107.3M | 78.3M | -75.8M | 28.2M | 71.2M | -126.3M |
| Free cash flow | -93.1M | -123.2M | -108.2M | -101.1M | -101.6M | -87.3M | -87M | -80.8M | -69.7M | -71.7M | -77.1M | -70M |