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 | -$0.97 | -$0.91 | +6.2% | — | $615K | — |
| Q1 26 | -$0.82 | -$0.9 | -9.8% | — | $495K | — |
| Q4 25 | -$1.01 | -$0.8 | +20.8% | — | $420K | — |
| Q3 25 | -$1.5 | -$1.3 | +13.3% | — | $183K | — |
| Q2 25 | -$4.3 | -$1.8 | +58.1% | — | — | — |
| Q1 25 | -$5.2 | -$4.4 | +15.4% | — | — | — |
| Q4 24 | -$8.9 | -$9 | -1.1% | — | — | — |
| Q3 24 | -$11.3 | -$11 | +2.7% | — | — | — |
| Q2 24 | -$14.1 | -$10.3 | +27.0% | — | — | — |
| Q1 24 | -$37.5 | -$47.5 | -26.7% | — | — | — |
| Q3 23 | -$0.25 | -$0.36 | -44.0% | — | — | — |
| Q2 23 | -$0.25 | -$0.28 | -12.0% | — | $0 | — |
| Q1 23 | — | -$0.4 | — | — | $0 | — |
| Q4 22 | — | -$3.03 | — | — | $0 | — |
| Q3 22 | — | -$0.05 | — | — | $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 | — | -$5.86 | — | — | $1.2M | — |
| FY24 | — | -$66.3 | — | — | $135K | — |
| FY23 | — | -$30.3 | — | — | $0 | — |
| FY22 | — | -$70 | — | — | $0 | — |
| FY21 | — | -$9.05 | — |
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 | $135K | $1.2M |
| YoY change | — | 0% | 0% | 0% | +InfinityT% | +814.1% |
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 |
|---|
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 | 135K | 1.2M |
| Cost of revenue | — | — | — | — | 0 | 53K |
| Gross profit | — | — | — | — | 135K | 1.2M |
| Gross margin | — | — | — | — | 100% | 95.7% |
| Research & development | 4M | 2.8M | 2.5M | 6M | 9.1M | 7.5M |
| Selling, general & administrative | 2.4M | 1.7M | 6.9M | 8.2M | 8.9M | 5.8M |
| Operating expenses | 6.5M | 4.4M | 11.6M | 14.2M | 18M | 13.4M |
| Operating income | -6.5M | -4.4M | -11.6M | -14.2M | -17.8M | -12.2M |
| Operating margin | — | — | — | — | -13.2K% | -986.6% |
| Non-operating income, net | 6.5M | 64K | 50K | -10.9M | -6.8M | 32K |
| Pretax income | -3.3M | -4.6M | -12.2M | -26.2M | -24.8M | -12.1M |
| Income tax | 9K | -1K | 1K | 0 | 3K | 3K |
| Net income | -3.3M | -4.6M | -12.2M | -26.2M | -24.8M | -12.2M |
| Net margin | — | — | — | — | -18.4K% | -984.6% |
| EBITDA | -6.4M | -4.4M | -11.6M | -14.1M | -23.9M | -12.1M |
| EPS | -6.45 | -9.05 | -70 | -30.3 | -66.3 | -5.86 |
| Diluted EPS | -6.45 | -9.05 | -70 | -30.3 | -66.3 | -5.86 |
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 | — | — | — | — | — | — | — | — | 183K | 420K | 495K | 615K |
| Cost of revenue | — | — | — | — | — | — | — | — | 14K | 12K | 46K | 54K |
| Gross profit | — | — | — | — | — | — | — | — | 169K | 408K | 449K | 561K |
| Gross margin | — | — | — | — | — | — | — | — | 92.3% | 97.1% | 90.7% | 91.2% |
| Research & development | — | — | — | — | — | — | — | — | 1.9M | 2.2M | 2.3M | 2.5M |
| Selling, general & administrative | — | — | — | — | — | — | — | — | 1.9M | 1.2M | 1.7M | 1.8M |
| Operating expenses | — | — | — | — | — | — | — | — | 3.7M | 3.4M | 4.1M | 4.4M |
| Operating income | — | — | — | — | — | — | — | — | -3.6M | -3M | -3.6M | -3.8M |
| Operating margin | — | — | — | — | — | — | — | — | -2K% | -718.1% | -727.9% | -616.4% |
| Non-operating income, net | -4.1M | -6.7M | -8.6M | 1.5M | 192K | 76K | 16K | 16K | — | 0 | — | — |
| Pretax income | — | — | — | — | — | — | — | — | -3.5M | -2.9M | -3.5M | -3.7M |
| Income tax | — | — | — | — | — | — | — | — | 0 | 0 | 3K | 0 |
| Net income | — | — | — | — | — | — | — | — | -3.5M | -2.9M | -3.5M | -3.7M |
| Net margin | — | — | — | — | — | — | — | — | -1.9K% | -691.4% | -711.3% | -606.5% |
| EBITDA | — | — | — | — | — | — | — | — | -3.5M | -2.9M | -3.5M | -3.7M |
| EPS | -9.02 | — | -4.75 | -1.03 | -1.1 | -9 | -4.4 | -1.8 | -1.3 | -0.8 | -0.9 | -0.91 |
| Diluted EPS | -9.02 | — | -4.75 | -1.03 | -1.1 | -9 | -4.4 | -1.8 | -1.3 | -0.8 | -0.9 | -0.91 |
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 | — | 1.3B | — | — | — | — | 15M |
| Enterprise value | — | 1.3B | — | — | — | — | 8.2M |
| Shares outstanding | 508K | 508K | 328.4K | 866.8K | 374.4K | 2.1M | 2.1M |
| Metric | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| P/E | — | — | — | — | — | — | -0.58 |
| P/S | — | — | — | — | — | — | 8.8 |
| P/B | — | -452.8 | — | — | — | — | 3.39 |
| EV/EBITDA | — | -293.1 | — | — | — | — | -0.68 |
| EV/Sales | — | — | — | — | — | — | 4.81 |
| Earnings yield | — | — | — | — | — | — | -172.4% |
| FCF yield | — | -0.4% | — | — | — | — | -61% |
| PEG | — | — | — | — | — | — | 0.01 |
| Metric | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| Gross margin | — | — | — | — | 100% | 95.7% | 91.2% |
| Operating margin | — | — | — | — | -13.2K% | -986.6% | -616.4% |
| Net margin | — | — | — | — | -18.4K% | -984.6% | 95.7% |
| ROE | 4.58% | 163.2% | 58.7% | 189.1% | 1.1K% | -116.6% | -356.9% |
| ROA | -112.6% | -762.2% | -401.3% | -746.7% | -533.1% | -85.8% | -102.7% |
| ROIC | 8.68% | 632% | 96.9% | 286.2% | 520.5% | 1.2K% | 553.1% |
| Return on tangible assets | -112.6% | -762.2% | -401.3% | -746.7% | -533.1% | -85.8% | -157.6% |
| Metric | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| Current ratio | 2.69 | 0.19 | 0.09 | 0.18 | 0.55 | 3.63 | 1.89 |
| Quick ratio | 2.64 | 0.19 | 0.09 | 0.18 | 0.55 | 3.61 | 1.87 |
| Debt / equity | -0 | -0.93 | -0.43 | -0.65 | -0.26 | 0.05 | 0.03 |
| Debt / assets | 0.03 | 4.35 | 2.91 | 2.58 | 0.12 | 0.04 | 0.02 |
| Net debt / EBITDA | 0.43 | -0.48 | -0.76 | -0.63 | 0.05 | 0.94 | 0.5 |
| Interest coverage | 0.01 | -20.7 | -18.3 | -23.3 | -100.8 | -390.8 | -503.6 |
| 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 | 0.36 | 0.6 | 0.48 |
| EPS (basic) | -6.45 | -9.05 | -70 | -30.3 | -66.3 | -5.86 | -5.86 |
| EPS (diluted) | -6.45 | -9.05 | -70 | -30.3 | -66.3 | -5.86 | -1.89 |
| Book value per share | -140.9 | -5.54 | -63.2 | -16 | -5.83 | 5.02 | 1.01 |
| FCF per share | -11 | -10.1 | -23.7 | -11.9 | -42.8 | -6.56 | -3.35 |
| Cash per share | 5.53 | 1 | 0.14 | 0.2 | 4.86 | 5.78 | 1.58 |
| Metric | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| Payout ratio | — | — | — | — | — | — | 0% |
| — |
| $0 |
| — |
| FY20 | — | -$6.45 | — | — | $0 | — |
| Q1 25 |
|---|
| Q2 25 |
|---|
| Q3 25 |
|---|
| Q4 25 |
|---|
| Q1 26 |
|---|
| Q2 26 |
|---|
| Revenue | — | — | — | — | — | — | — | — | $183K | $420K | $495K | $615K |
| YoY change | — | — | — | — | — | — | — | — | — | — | — | — |
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 | 2.8M | 510K | 47K | 176K | 1.8M | 12M |
| Receivables | — | — | — | — | 112K | 237K |
| Inventory | 55K | 0 | — | — | — | 66K |
| Total current assets | 2.9M | 601K | 1.5M | 2.3M | 3.8M | 13.6M |
| Property, plant & equipment | — | — | — | — | — | — |
| Goodwill & intangibles | — | — | — | — | — | — |
| Total assets | 2.9M | 603K | 3M | 3.5M | 4.7M | 14.2M |
| Accounts payable | 382K | 85K | 1.9M | 4.4M | 3M | 948K |
| Short-term debt | 20K | 2.4M | 1.2M | 4.7M | 574K | 525K |
| Total current liabilities | 1.1M | 3.1M | 16.1M | 13M | 6.8M | 3.7M |
| Long-term debt | 63K | 244K | 7.7M | 4.3M | — | — |
| Total liabilities | 74.5M | 3.4M | 23.8M | 17.4M | 6.8M | 3.7M |
| Shareholders' equity | -71.6M | -2.8M | -20.8M | -13.9M | -2.2M | 10.4M |
| Total debt | 83K | 2.6M | 8.8M | 9.1M | 574K | 525K |
| Net debt | -2.7M | 2.1M | 8.8M | 8.9M | -1.2M | -11.5M |
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 | 73K | 176K | 5M | 1.2M | 2.1M | — | — | — | 13.8M | 12M | 9.3M | 7M |
| Receivables | — | — | — | — | 68K | — | — | — | 221K | 237K | 179K | 208K |
| Inventory | — | — | — | — | — | 0 | 44K | 77K | 83K | 66K | 57K | 77K |
| Total current assets | 2.2M | 2.3M | 6.5M | 2.4M | 3.6M | — | — | — | 14.9M | 13.6M | 10.8M | 8.2M |
| Property, plant & equipment | — | — | — | — | — | — | — | — | — | — | — | — |
| Goodwill & intangibles | — | — | — | — | — | — | — | — | — | — | — | — |
| Total assets | 2.2M | 3.5M | 7.7M | 3.5M | 4.6M | — | — | — | 15.5M | 14.2M | 11.3M | 8.6M |
| Accounts payable | 5M | 4.4M | 3.9M | 4.1M | 3.7M | — | — | — | 2M | 948K | 719K | 750K |
| Short-term debt | 4.4M | 4.7M | 1.5M | 3.1M | — | — | — | — | — | 525K | 331K | 134K |
| Total current liabilities | 12.4M | 13M | 9.6M | 9.9M | 6.6M | — | — | — | 4.1M | 3.7M | 3.9M | 4.4M |
| Long-term debt | 5.7M | 4.3M | 2.6M | — | — | — | — | — | — | — | — | — |
| Total liabilities | 18.1M | 17.4M | 12.2M | 10.4M | 6.6M | — | — | — | 4.1M | 3.7M | 3.9M | 4.4M |
| Shareholders' equity | -15.9M | -13.9M | -4.5M | -6.9M | -2.1M | — | — | — | 11.5M | 10.4M | 7.3M | 4.3M |
| Total debt | 10.1M | 9.1M | 4.1M | 3.1M | — | — | — | — | — | 525K | 331K | 134K |
| Net debt | 10.1M | 8.9M | -962K | 2M | — | — | — | — | — | -11.5M | -9M | -6.8M |
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 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|
| Net income | -3.3M | -4.6M | -12.2M | -26.2M | -24.8M | -12.2M |
| Depreciation & amortization | — | — | — | — | — | — |
| Stock-based compensation | 0 | 14K | 1.3M | 1.9M | 887K | 624K |
| Change in working capital | 366K | -242K | 1.6M | 2.5M | -1.2M | -2M |
| Operating cash flow | 398K | -4.6M | -8.7M | -21.8M | -25M | -13.6M |
| Capital expenditure | — | — | — | — | — | — |
| Investing cash flow | — | — | — | — | — | — |
| Dividends paid | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — |
| Financing cash flow | 4.9M | 2.8M | 12.3M | 9.6M | 13M | 16.1M |
| Net change in cash | 5.3M | -1.8M | 3.5M | -12.2M | -12M | 2.5M |
| Free cash flow | -5.6M | -5.1M | -7.8M | -10.3M | -16M | -13.6M |
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 | -7.2M | -9.9M | -12.7M | -3.2M | -4.5M | -4.4M | -3.8M | -2M | -3.5M | -2.9M | -3.5M | -3.7M |
| Depreciation & amortization | — | — | — | — | — | — | — | — | — | — | — | — |
| Stock-based compensation | 484K | 386K | 434K | 41K | 200K | 212K | 167K | 97K | 290K | 70K | 91K | -99K |
| Change in working capital | 687K | -670K | -491K | 883K | -588K | -984K | 388K | -302K | -1.1M | -991K | -83K | 60K |
| Operating cash flow | -6M | -9.1M | -7M | -1.9M | -11M | -5.2M | -3.2M | -3M | -3.8M | -4.1M | -2.8M | -3M |
| Capital expenditure | — | — | — | — | — | — | — | — | — | — | — | — |
| Investing cash flow | — | — | — | — | — | — | — | — | — | — | — | — |
| Dividends paid | — | — | — | — | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — | — | — | — | — |
| Financing cash flow | 1.4M | 3.8M | 3.7M | -1M | 5.9M | 4.4M | 1.3M | 3.2M | 9.2M | 1.5M | 129K | 605K |
| Net change in cash | -4.7M | -5.3M | -3.3M | -2.9M | -5.1M | -761K | -1.9M | 211K | 5.3M | -2.5M | -2.6M | -2.4M |
| Free cash flow | -1.3M | -4.5M | -3.5M | -2.8M | -5M | -4.7M | -2.7M | -3M | -3.8M | -4.1M | -2.8M | -3M |