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 | -$0.5 | -$0.65 | -30.0% | — | $0 | — |
| Q4 25 | -$0.57 | -$0.76 | -33.3% | — | $0 | — |
| Q2 25 | -$0.5 | -$0.5 | 0.0% | — | $4M | — |
| Q1 25 | -$0.57 | -$0.52 | +8.8% | — | $2.9M | — |
| Q4 24 | -$0.61 | -$1.11 | -82.0% | — | $2.7M | — |
| Q3 24 | -$0.58 | -$0.78 | -34.5% | — | $2.9M | — |
| Q2 24 | -$0.4 | -$0.6 | -50.0% | — | $2.4M | — |
| Q1 24 | -$0.45 | -$2.51 | -457.8% | — | $1M | — |
| Q4 23 | -$0.34 | -$0.15 | +55.9% | — | $3.8M | — |
| Q3 23 | -$0.17 | -$0.36 | -111.8% | — | $3.6M | — |
| Q2 23 | -$0.16 | -$0.46 | -187.5% | — | $4.3M | — |
| Q1 23 | $0.59 | -$0.35 | -159.3% | — | $2.4M | — |
| Q4 22 | -$0.67 | -$0.64 | +4.5% | — | $0 | — |
| Q3 22 | -$0.78 | -$0.75 | +3.8% | — | $0 | — |
| Q2 22 | -$0.93 | -$0.74 | +20.4% | — | $0 | — |
| Q1 22 | -$0.69 | -$0.96 | -39.1% | — | $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 | — | -$2.43 | — | — | $6.9M | — |
| FY24 | — | -$5 | — | — | $9M | — |
| FY23 | — | -$5.38 | — | — | $14M | — |
| FY22 | — | -$3.09 | — | — | $0 | — |
| FY21 | — |
Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.
| Period | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 | $0 | $14M | $9M | $6.9M |
| YoY change | — | 0% | 0% | 0% | 0% | +InfinityT% | -35.5% | -23.2% |
Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.
Revenue, gross profit, operating income, and net income per period.
Click a row to chart it; unreported figures show a dash.
| Period | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | 0 | 0 | 14M | 9M | 6.9M |
| Cost of revenue | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — | — |
| Research & development | 6.9M | 8.8M | 7.5M | 14.1M | 23.3M | 23.1M | 129.5M | 187.3M |
| Selling, general & administrative | 866K | 1.5M | 4.8M | 11.1M | 13.6M | 19.7M | 33M | 43.8M |
| Operating expenses | 7.7M | 10.3M | 12.3M | 25.2M | 36.9M | 42.7M | 162.5M | 231.1M |
| Operating income | -7.7M | -10.3M | -12.3M | -25.2M | -36.9M | -28.7M | -153.5M | -224.1M |
| Operating margin | — | — | — | — | — | -204.9% | -1.7K% | -3.2K% |
| Non-operating income, net | — | — | -5.5M | 503K | — | -80.8M | -152.3M | — |
| Pretax income | -7.8M | -10.4M | -17.8M | -24.7M | -36.9M | -106.8M | -293M | -212.4M |
| Income tax | — | — | — | — | — | — | — | — |
| Net income | -7.8M | -10.4M | -17.8M | -24.7M | -36.9M | -106.8M | -293M | -212.4M |
| Net margin | — | — | — | — | — | -761.9% | -3.2K% | -3.1K% |
| EBITDA | -7.2M | -9.7M | -11.5M | -24.4M | -36.3M | 52.8M | 990K | -221.2M |
| EPS | -1.79 | -1.82 | -5.26 | -2.14 | -3.09 | -5.38 | -5 | -2.43 |
| Diluted EPS | -1.79 | -1.82 | -5.26 | -2.14 | -3.09 | -5.38 | -5 | -2.43 |
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 | 3.6M | 3.8M | 1M | 2.4M | 2.9M | 2.7M | 2.9M | 4M | 0 | 0 | 0 | 0 |
| Cost of revenue | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — | — | — | — | — | — |
| Research & development | 3.8M | 9.6M | 15.4M | 29.1M | 37.2M | 47.9M | 36.9M | 40.5M | 49.2M | 60.8M | 46.4M | 59.9M |
| Selling, general & administrative | 4.4M | 8M | 6M | 7M | 9.5M | 10.4M | 10.7M | 10M | 10.9M | 12.1M | 12.9M | 18.3M |
| Operating expenses | 8.2M | 17.7M | 21.4M | 36.1M | 46.7M | 58.3M | 47.6M | 50.5M | 60.1M | 72.9M | 59.3M | 78.1M |
| Operating income | -4.6M | -13.9M | -20.3M | -33.7M | -43.8M | -55.6M | -44.6M | -46.5M | -60.1M | -72.9M | -59.3M | -78.1M |
| Operating margin | -130% | -362% | -2K% | -1.4K% | -1.5K% | -2K% | -1.5K% | -1.2K% | — | — | — | — |
| Non-operating income, net | — | — | -112M | -6.3M | -6.7M | -27.4M | — | — | — | — | — | — |
| Pretax income | -4.3M | -92.6M | -129.5M | -36.1M | -47.1M | -80.2M | -41.6M | -43.4M | -57.5M | -69.9M | -53.8M | -73.1M |
| Income tax | — | — | — | — | — | — | — | — | — | — | — | — |
| Net income | -4.3M | -92.6M | -129.5M | -36.1M | -47.1M | -80.2M | -41.6M | -43.4M | -57.5M | -69.9M | -53.8M | -73.1M |
| Net margin | -121.9% | -2.4K% | -12.6K% | -1.5K% | -1.6K% | -2.9K% | -1.4K% | -1.1K% | — | — | — | — |
| EBITDA | -4.5M | -13.6M | 91.9M | -26.7M | -36.5M | -27.6M | -43.9M | -45.8M | -59.4M | -72.1M | -58.6M | -77M |
| EPS | -0.36 | — | -2.51 | -0.6 | -0.78 | — | -0.52 | -0.5 | -0.65 | — | -0.48 | -0.65 |
| Diluted EPS | -0.36 | — | -2.51 | -0.6 | -0.78 | — | -0.52 | -0.5 | -0.65 | — | -0.48 | -0.65 |
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 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Market cap | — | — | — | — | 26.8M | — | — | — | 2.5B |
| Enterprise value | — | — | — | — | 6.8M | — | — | — | 1.9B |
| Shares outstanding | 4.4M | 5.7M | 3.4M | 11.5M | 12.1M | 19.8M | 58.6M | 87.4M | 87.4M |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| P/E | — | — | — | — | — | — | — | — | -8.93 |
| P/S | — | — | — | — | — | — | — | — | 354.8 |
| P/B | — | — | — | — | 1.61 | — | — | — | 4.62 |
| EV/EBITDA | — | — | — | — | -0.19 | — | — | — | -7.44 |
| EV/Sales | — | — | — | — | — | — | — | — | 276.1 |
| Earnings yield | — | — | — | — | — | — | — | — | -11.2% |
| FCF yield | — | — | — | — | -108% | — | — | — | -5.83% |
| PEG | — | — | — | — | — | — | — | — | -0.3 |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Operating margin | — | — | — | — | — | -204.9% | -1.7K% | -3.2K% | -3.2K% |
| Net margin | — | — | — | — | — | -761.9% | -3.2K% | -3.1K% | 0% |
| ROE | 31.1% | 29.3% | -43.1% | -51.3% | -221.6% | -89.1% | -161.7% | -33.5% | -64% |
| ROA | -176.4% | -206.4% | -40.1% | -42.7% | -153.4% | -71.9% | -121.9% | -31.1% | -37.8% |
| Return on tangible assets | -176.4% | -206.4% | -40.1% | -42.7% | -153.4% | -71.9% | -121.9% | -31.1% | -45% |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Current ratio | 1.35 | 1.88 | 14.1 | 5.82 | 3.09 | 6.63 | 4.08 | 14.7 | 15.1 |
| Quick ratio | 1.35 | 1.88 | 14.1 | 5.82 | 3.09 | 6.63 | 4.08 | 14.7 | 15.1 |
| Debt / equity | -0.05 | -0.02 | 0.01 | 0.01 | 0.02 | 0.01 | 0.03 | 0.01 | 0.01 |
| Debt / assets | 0.26 | 0.11 | 0.01 | 0.01 | 0.01 | 0.01 | 0.02 | 0.01 | 0.01 |
| Net debt / EBITDA | 0.06 | 0.2 | 3.4 | 2 | 0.55 | -2.66 | -214.6 | 2.94 | 1.93 |
| Interest coverage | -54.6 | -97.5 | -468.4 | -2.5K | — | — | — | — | — |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Revenue per share | 0 | 0 | 0 | 0 | 0 | 0.71 | 0.15 | 0.08 | 0.08 |
| EPS (basic) | -1.79 | -1.82 | -5.26 | -2.14 | -3.09 | -5.38 | -5 | -2.43 | -2.43 |
| EPS (diluted) | -1.79 | -1.82 | -5.26 | -2.14 | -3.09 | -5.38 | -5 | -2.43 | -2.53 |
| Book value per share | -5.74 | -6.2 | 12.2 | 4.18 | 1.37 | 6.04 | 3.09 | 7.26 | 4.63 |
| FCF per share | -1.74 | -1.71 | -3.75 | -1.59 | -2.39 | -0.42 | -2.8 | -2.37 | -2.01 |
| Cash per share | 0.36 | 0.44 | 11.7 | 4.27 | 1.68 | 7.16 | 3.71 | 7.48 | 4.58 |
| Capex per share | 0.05 | 0.04 | 0.17 | 0.01 | 0.02 | 0.04 | 0.12 | — | — |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Capex / revenue | — | — | — | — | — | 5.93% | 79.3% | — | — |
| Capex / operating cash flow | -3.19% | -2.39% | -3.67% | -0.42% | -0.78% | -23.6% | -5.86% | — | — |
| Payout ratio | — | — | — | — | — | — | — | — | 0% |
| -$2.14 |
| — |
| — |
| $0 |
| — |
| FY20 | — | -$5.26 | — | — | $0 | — |
| FY19 | — | -$1.82 | — | — | $0 | — |
| FY18 | — | -$1.79 | — | — | $0 | — |
| 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 | $3.6M | $3.8M | $1M | $2.4M | $2.9M | $2.7M | $2.9M | $4M | $0 | $0 | $0 | $0 |
| YoY change | +InfinityT% | +InfinityT% | -56.5% | -44.5% | -18.4% | -28.4% | +184.4% | +69.8% | -100% | -100% | -100% | -100% |
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 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|
| Cash & short-term investments | 1.6M | 2.5M | 39.8M | 49.2M | 20.3M | 142.2M | 217.3M | 653.5M |
| Receivables | — | — | — | 0 | 847K | — | — | — |
| Inventory | — | — | — | — | — | — | — | — |
| Total current assets | 2.1M | 3.1M | 42.9M | 56.6M | 22.6M | 144.7M | 221.3M | 660.8M |
| Property, plant & equipment | 2.1M | 1.7M | 1.5M | 855K | 681K | 2.1M | 10.1M | 14.6M |
| Goodwill & intangibles | — | — | — | — | — | — | — | — |
| Total assets | 4.4M | 5.1M | 44.5M | 57.9M | 24M | 148.5M | 240.2M | 683.2M |
| Accounts payable | 473K | 548K | 1.2M | 3.1M | 2.4M | 3.3M | 14.2M | 3.3M |
| Short-term debt | 612K | 451K | 479K | 317K | 229K | 310K | 63K | — |
| Total current liabilities | 1.6M | 1.7M | 3M | 9.7M | 7.3M | 21.8M | 54.3M | 45M |
| Long-term debt | 564K | 113K | 134K | — | 62K | 1.3M | 4.8M | 3.9M |
| Total liabilities | 29.7M | 40.7M | 3.2M | 9.7M | 7.4M | 28.7M | 59.1M | 48.8M |
| Shareholders' equity | -25.2M | -35.6M | 41.3M | 48.2M | 16.7M | 119.9M | 181.2M | 634.3M |
| Total debt | 1.2M | 564K | 613K | 317K | 291K | 1.6M | 4.8M | 3.9M |
| Net debt | -426K | -2M | -39.2M | -48.9M | -20M | -97M | -138.5M | -649.6M |
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 | 90.6M | 142.2M | 309.7M | 278.4M | 240.1M | 217.3M | 317.3M | 268M | 272.6M | 653.5M | 582.7M | 520M |
| Receivables | 0 | — | — | — | — | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current assets | 91.4M | 144.7M | 313.3M | 284.3M | 244M | 221.3M | 323.1M | 277.4M | 279.9M | 660.8M | 594.3M | 538.4M |
| Property, plant & equipment | 1.5M | 2.1M | 5.8M | 8.6M | 9.6M | 10.1M | 15.1M | 14.3M | 14.7M | 14.6M | 17.1M | 17.4M |
| Goodwill & intangibles | — | — | — | — | — | — | — | — | — | — | — | — |
| Total assets | 93.2M | 148.5M | 319.8M | 296.2M | 256.9M | 240.2M | 342.7M | 296.3M | 299.4M | 683.2M | 619.8M | 565.4M |
| Accounts payable | 2.8M | 3.3M | 7.2M | 7M | 3.5M | 14.2M | 9.1M | 4.7M | 6.1M | 3.3M | 5.5M | 6M |
| Short-term debt | 249K | 310K | 419K | 295K | 257K | 63K | — | — | — | — | — | 152K |
| Total current liabilities | 23.1M | 21.8M | 30.8M | 39.9M | 39.5M | 54.3M | 30.8M | 22.9M | 31.4M | 45M | 27.4M | 35.7M |
| Long-term debt | 122K | 1.3M | 1.2M | 2.5M | 2.5M | 4.8M | 4.8M | 4.1M | 4M | 3.9M | 3.7M | 4.6M |
| Total liabilities | 87.1M | 28.7M | 34.2M | 42.4M | 42M | 59.1M | 35.6M | 27M | 35.5M | 48.8M | 31.1M | 40.3M |
| Shareholders' equity | 6.1M | 119.9M | 285.6M | 253.8M | 214.9M | 181.2M | 307.1M | 269.3M | 263.9M | 634.3M | 588.7M | 525.1M |
| Total debt | 371K | 1.6M | 1.6M | 2.8M | 2.7M | 4.8M | 4.8M | 4.1M | 4M | 3.9M | 3.7M | 4.7M |
| Net debt | -90.3M | -97M | -268.1M | -162.6M | -152.8M | -138.5M | -252.8M | -139.7M | -268.6M | -649.6M | -579M | -213M |
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 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|
| Net income | -7.8M | -10.4M | -17.8M | -24.7M | -36.9M | -106.8M | -293M | -212.4M |
| Depreciation & amortization | 521K | 615K | 755K | 755K | 631K | 728K | 2.1M | 3M |
| Stock-based compensation | 11K | 14K | 621K | 3.4M | 5.3M | 6.2M | 15.7M | 25.7M |
| Change in working capital | 146K | 75K | 504K | 1.8M | -906K | 15.5M | 418K | -16.3M |
| Operating cash flow | -7.2M | -9.7M | -16M | -18.7M | -31.8M | -3.5M | -122.4M | -190.9M |
| Capital expenditure | -228K | -233K | -586K | -79K | -248K | -831K | -7.2M | — |
| Investing cash flow | -228K | -233K | -586K | -79K | -248K | -30.5M | -38.7M | 76.7M |
| Dividends paid | — | — | — | — | — | — | — | — |
| Share repurchases | 0 | -35K | — | — | — | — | — | — |
| Financing cash flow | -551K | 17.5M | 49.9M | 26.3M | 0 | -9M | 234.8M | 639.4M |
| Net change in cash | -7.9M | 7.6M | 33.4M | 7.5M | -32.1M | -43M | 73.7M | 525.3M |
| Free cash flow | -7.6M | -9.8M | -12.7M | -18.3M | -28.9M | -8.4M | -164.3M | -206.8M |
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 | -4.3M | -92.6M | -129.5M | -36.1M | -47.1M | -80.2M | -41.6M | -43.4M | -57.5M | -69.9M | -53.8M | -73.1M |
| Depreciation & amortization | 166K | 257K | 263K | 673K | 571K | 595K | 726K | 720K | 733K | 776K | 753K | 1.2M |
| Stock-based compensation | 1.1M | 2.9M | 2.2M | 3.2M | 4.9M | 5.5M | 5.7M | 5.3M | 6.7M | 7.9M | 8M | 8.8M |
| Change in working capital | -4.8M | -4.3M | 1.3M | -2.4M | -5.1M | 6.6M | -6.8M | -8.8M | 1.7M | -2.4M | 1.3M | 916K |
| Operating cash flow | -7.9M | -93.8M | -13.8M | -28.3M | -40M | -40.2M | -42M | -49.4M | -40.5M | -48M | -58.6M | -61.7M |
| Capital expenditure | -36K | -349K | -2.2M | -2.3M | -1.5M | -1.1M | -3.7M | — | — | — | — | — |
| Investing cash flow | -36K | -349K | -22.2M | 37.7M | 28.5M | 10M | 11.3M | 60M | 125M | 0 | 0 | 0 |
| Dividends paid | — | — | — | — | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — | — | — | — | — |
| Financing cash flow | 0 | -8.9M | 215.8M | -469K | -204K | 19.6M | 162M | -270K | 45M | 432.7M | -364K | 0 |
| Net change in cash | -7.9M | -103M | 179.8M | 8.8M | -11.8M | -10.6M | 131.3M | 10.3M | 129.5M | 384.8M | -59M | -61.7M |
| Free cash flow | -8.7M | -17.8M | -28.3M | -32.4M | -40.1M | -43.4M | -63M | -50.3M | -41.6M | -52M | -70.7M | -63.9M |