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 | -$0.48 | -$0.53 | -10.4% | — | $9.1M | — |
| Q1 26 | -$0.44 | -$0.51 | -15.9% | — | $7.6M | — |
| Q3 25 | -$0.45 | -$0.49 | -8.9% | — | $5.2M | — |
| Q2 25 | -$0.36 | -$0.68 | -88.9% | — | $4.7M | — |
| Q1 25 | -$0.33 | -$0.37 | -12.1% | — | $18.6M | — |
| Q4 24 | -$0.34 | $0.45 | +232.4% | — | $56.3M | — |
| Q3 24 | -$0.28 | -$0.08 | +71.4% | — | $58.7M | — |
| Q2 24 | -$0.31 | -$0.19 | +38.7% | — | $18.8M | — |
| Q1 24 | -$0.22 | -$0.03 | +86.4% | — | $30.3M | — |
| Q4 23 | -$0.37 | -$0.33 | +10.8% | — | $15.9M | — |
| Q3 23 | -$0.39 | -$0.34 | +12.8% | — | $5.9M | — |
| Q2 23 | -$0.27 | -$0.35 | -29.6% | — | $22.4M | — |
| Q1 23 | -$0.3 | -$0.28 | +6.7% | — | $9.8M | — |
| Q4 22 | -$0.08 | -$0.25 | -212.5% | — | $37.6M | — |
| Q3 22 | -$0.44 | -$0.33 | +25.0% | — | $15.1M | — |
| Q2 22 | -$0.06 | -$0.22 | -266.7% | — | $17.2M | — |
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 | — | -$1.61 | — | — | $48.3M | — |
| FY24 | — | $0.14 | — | — | $155.8M | — |
| FY23 | — | -$1.2 | — | — | $54M | — |
| FY22 | — | $0.56 | — | — | $172.8M | — |
| 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 | $3.8M | $18.4M | $31.3M | $34.8M | $172.8M | $54M | $155.8M | $48.3M |
| YoY change | — | +389.4% | +69.4% | +11.2% | +397.2% | -68.8% | +188.6% | -69% |
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 | 3.8M | 18.4M | 31.3M | 34.8M | 172.8M | 54M | 155.8M | 48.3M |
| Cost of revenue | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — | — |
| Research & development | 34M | 40.1M | 67.1M | 87.6M | 106.8M | 118.7M | 148.1M | 183.8M |
| Selling, general & administrative | 7.7M | 11.8M | 34.2M | 33.8M | 36.1M | 38.2M | 46.4M | 51.2M |
| Operating expenses | 38.2M | 51.5M | 101M | 121.1M | 142.9M | 155.7M | 194.4M | 230.3M |
| Operating income | -34.4M | -33M | -69.7M | -86.3M | 30M | -101.7M | -38.6M | -182M |
| Operating margin | -912.7% | -178.9% | -223.1% | -248.2% | 17.3% | -188.4% | -24.8% | -377.1% |
| Non-operating income, net | 1.6M | -94K | -142.7M | -6.6M | 10.6M | -8.3M | 35.8M | -32.7M |
| Pretax income | -32.4M | -32.5M | -211.8M | -93.3M | 42M | -97M | 21.3M | -198.4M |
| Income tax | 0 | 0 | 0 | 0 | 4.5M | 0 | 6.1M | -2M |
| Net income | -32.4M | -32.5M | -211.8M | -93.3M | 37.5M | -97M | 15.2M | -196.4M |
| Net margin | -858.2% | -176.1% | -677.8% | -268.5% | 21.7% | -179.6% | 9.77% | -407% |
| EBITDA | -31.7M | -28.4M | -64.4M | -80.9M | 39.4M | -80.6M | -1.4M | -152.4M |
| EPS | -0.5 | -0.5 | -4.4 | -1.48 | 0.56 | -1.2 | 0.14 | -1.61 |
| Diluted EPS | -0.5 | -0.5 | -4.4 | -1.48 | 0.55 | -1.2 | 0.14 | -1.61 |
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 | 15.9M | 30.3M | 18.8M | 58.7M | 56.3M | 18.6M | 4.7M | 5.2M | 19.8M | 7.6M | 9.1M |
| Cost of revenue | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — | — | — | — | — | — |
| Research & development | 30.5M | 33.3M | 32.1M | 35.2M | 45.2M | 41.8M | 41.9M | 45.1M | 47.2M | 49.6M | 59.2M | 62.4M |
| Selling, general & administrative | 8.9M | 10.4M | 11.6M | 10.1M | 13M | 13.5M | 12.1M | 12.8M | 12.7M | 13.7M | 14.5M | 13.9M |
| Operating expenses | 39.2M | 43.6M | 43.7M | 45.3M | 58.1M | 55.3M | 54M | 57.9M | 59.8M | 58.6M | 73.7M | 76.3M |
| Operating income | -33.3M | -27.7M | -13.5M | -26.6M | 597K | 903K | -35.4M | -53.1M | -54.6M | -38.9M | -66.1M | -67.2M |
| Operating margin | -561.4% | -174.1% | -44.5% | -141.6% | 1.02% | 1.61% | -190.4% | -1.1K% | -1.1K% | -196.8% | -867.9% | -735% |
| Non-operating income, net | 3M | -3.1M | 5.6M | 2.6M | -9.5M | 35.8M | -10.7M | -22.2M | 282K | -11K | 4.9M | 1.4M |
| Pretax income | -26.5M | -26.1M | -1.7M | -17.9M | -2.7M | 43.3M | -40.8M | -71.3M | -50.7M | -35.6M | -57.8M | -62.8M |
| Income tax | 0 | 0 | 1.3M | 170K | 7.2M | -1.6M | -994K | -1M | -127K | 134K | 52K | -274K |
| Net income | -26.5M | -26.1M | -3.1M | -18M | -10M | 44.9M | -39.9M | -70.3M | -50.5M | -35.7M | -57.8M | -62.5M |
| Net margin | -447% | -164.2% | -10.1% | -96.1% | -17% | 79.8% | -214.5% | -1.5K% | -974.5% | -180.6% | -759.5% | -683.4% |
| EBITDA | -27.5M | -21.1M | -4.2M | -17.1M | 10.5M | 10.8M | -26.8M | -45.8M | -47.7M | -32.2M | -59.7M | -60.9M |
| EPS | -0.32 | — | -0.03 | -0.17 | -0.08 | — | -0.33 | -0.58 | -0.42 | — | -0.43 | -0.46 |
| Diluted EPS | -0.32 | — | -0.04 | -0.17 | -0.11 | — | -0.33 | -0.58 | -0.42 | — | -0.43 | -0.46 |
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 | 601.3M | 638.1M | — | — | 569.1M | — | — | — | 1.3B |
| Enterprise value | 601.3M | 522M | — | — | 221.5M | — | — | — | 871.8M |
| Shares outstanding | 61.4M | 61.4M | 46.8M | 61.4M | 65.3M | 74.6M | 105.7M | 122.3M | 122.3M |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| P/E | — | — | — | — | 15.2 | — | — | — | 26.8 |
| P/S | 159.5 | 34.6 | — | — | 3.29 | — | — | — | 31.2 |
| P/B | — | -15.6 | — | — | 2.67 | — | — | — | 2.54 |
| EV/EBITDA | -19 | -18.4 | — | — | 5.62 | — | — | — | -3.51 |
| EV/Sales | 159.5 | 28.3 | — | — | 1.28 | — | — | — | 18.4 |
| Earnings yield | — | — | — | — | 6.59% | — | — | — | 3.73% |
| FCF yield | 3.36% | 10.8% | — | — | 16.5% | — | — | — | -11.1% |
| PEG | — | — | — | — | — | — | — | — | -1.3 |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Operating margin | -912.7% | -178.9% | -223.1% | -248.2% | 17.3% | -188.4% | -24.8% | -377.1% | -735% |
| Net margin | -858.2% | -176.1% | -677.8% | -268.5% | 21.7% | -179.6% | 9.77% | -407% | 0% |
| ROE | — | 79.6% | -242.4% | -387.9% | 17.6% | -43.1% | 2.65% | -40.6% | -47.8% |
| ROA | — | -24.2% | -83.2% | -53.4% | 9.2% | -19% | 2.19% | -34.9% | -26.9% |
| ROIC | — | 21% | 50.4% | 77.6% | -19.9% | 54.9% | 205.3% | -598.8% | -1.1K% |
| Return on tangible assets | — | -24.6% | -83.8% | -54.3% | 9.27% | -19.1% | 2.2% | -35.1% | -42.7% |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Current ratio | — | 1.79 | 3.08 | 1.6 | 3.54 | 2.87 | 9.26 | 11.7 | 7.54 |
| Quick ratio | — | 1.79 | 3.08 | 1.6 | 3.54 | 2.87 | 9.26 | 11.7 | 7.54 |
| Debt / equity | — | -0.08 | 0.07 | 0.41 | 0.07 | 0.07 | 0.03 | 0.03 | 0.04 |
| Debt / assets | — | 0.02 | 0.02 | 0.06 | 0.04 | 0.03 | 0.02 | 0.03 | 0.03 |
| Net debt / EBITDA | — | 4.09 | 3.5 | 1.67 | -8.82 | 5.09 | 423.5 | 2.98 | 1.89 |
| Interest coverage | -2K | -190.1 | -732 | -163.9 | 41.5 | -115.7 | 25.1 | -208.8 | -237.2 |
| Effective tax rate | 0% | 0% | 0% | 0% | 10.8% | 0% | 28.7% | 0% | 0% |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Revenue per share | 0.06 | 0.3 | 0.67 | 0.57 | 2.65 | 0.72 | 1.47 | 0.39 | 0.32 |
| EPS (basic) | -0.5 | -0.5 | -4.4 | -1.48 | 0.56 | -1.2 | 0.14 | -1.61 | -1.61 |
| EPS (diluted) | -0.5 | -0.5 | -4.4 | -1.48 | 0.55 | -1.2 | 0.14 | -1.61 | -1.81 |
| Book value per share | — | -0.67 | 1.87 | 0.39 | 3.26 | 3.02 | 5.44 | 3.96 | 3.37 |
| FCF per share | 0.33 | 1.12 | -1.88 | -1.47 | 1.44 | -0.17 | -1.65 | -1.5 | -1.53 |
| Cash per share | — | 1.95 | 4.95 | 2.36 | 5.54 | 5.71 | 5.72 | 3.84 | 2.88 |
| Capex per share | 0.01 | 0.03 | 0.16 | 0.08 | 0.09 | 0.41 | 0.15 | — | — |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Capex / revenue | 8.89% | 11.1% | 23.7% | 14.7% | 3.29% | 56.8% | 10.4% | — | — |
| Capex / operating cash flow | 1.66% | 2.91% | -8.5% | -4.09% | 5.08% | -7K% | -11.9% | — | — |
| Payout ratio | — | — | — | — | — | — | — | — | 0% |
| — |
| -$1.48 |
| — |
| — |
| $34.8M |
| — |
| FY20 | — | -$4.4 | — | — | $31.3M | — |
| FY19 | — | -$0.5 | — | — | $18.4M | — |
| FY18 | — | -$0.5 | — | — | $3.8M | — |
| 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 | $15.9M | $30.3M | $18.8M | $58.7M | $56.3M | $18.6M | $4.7M | $5.2M | $19.8M | $7.6M | $9.1M |
| YoY change | -60.7% | -57.7% | +209% | -16.1% | +891% | +253.3% | -38.6% | -74.7% | -91.2% | -64.9% | -59% | +93% |
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 | 119.4M | 232M | 145.1M | 362.2M | 425.9M | 604.5M | 469.3M |
| Receivables | 957K | 1.3M | 682K | 1.1M | 4.1M | 5.9M | 6.1M |
| Inventory | — | — | — | — | — | — | — |
| Total current assets | 124M | 239M | 152.2M | 377.2M | 449.4M | 629.6M | 504M |
| Property, plant & equipment | 5.2M | 8.3M | 11.5M | 14.1M | 44.2M | 50.6M | 42.3M |
| Goodwill & intangibles | 2M | 1.8M | 2.6M | 3.3M | 3M | 3.3M | 3.2M |
| Total assets | 134.3M | 254.6M | 174.6M | 407.8M | 510M | 696.1M | 562.3M |
| Accounts payable | 4.9M | 2.6M | 3M | 4M | 7.7M | 10.1M | 340K |
| Short-term debt | 1.4M | 1.9M | 2.7M | 2.2M | 2.6M | 2.9M | 2.8M |
| Total current liabilities | 69.3M | 77.5M | 95.1M | 106.5M | 156.6M | 68M | 43M |
| Long-term debt | 1.8M | 4.3M | 7.1M | 12.4M | 12.8M | 13.4M | 12.9M |
| Total liabilities | 175.1M | 167.3M | 150.6M | 194.7M | 284.9M | 121.3M | 78.2M |
| Shareholders' equity | -40.8M | 87.4M | 24.1M | 213.2M | 225.1M | 574.8M | 484.1M |
| Total debt | 3.2M | 6.2M | 9.9M | 14.6M | 15.4M | 16.2M | 15.6M |
| Net debt | -100.1M | -201.3M | -123.1M | -134M | -203.1M | -220.5M | -330.3M |
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 | 366M | 425.9M | 564M | 531.1M | 569.8M | 604.5M | 543.8M | 478.2M | 430.8M | 469.3M | 453.6M | 393.4M |
| Receivables | 514K | 4.1M | 1.8M | 2.8M | 3.4M | 5.9M | 5.6M | 2M | 3.2M | 6.1M | 4.2M | 5.6M |
| Inventory | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current assets | 385M | 449.4M | 588.4M | 559.1M | 595.6M | 629.6M | 573.6M | 503.9M | 458M | 504M | 484.8M | 429.2M |
| Property, plant & equipment | 49.1M | 44.2M | 61.9M | 64.9M | 71.7M | 50.6M | 65.4M | 60.8M | 58.2M | 42.3M | 53.4M | 51.7M |
| Goodwill & intangibles | 3.3M | 3M | 3M | 3.2M | 3.7M | 3.3M | 3.2M | 1.6M | 1.6M | 3.2M | 1.6M | 1.6M |
| Total assets | 437.4M | 510M | 653.1M | 627M | 670.5M | 696.1M | 641.7M | 567.3M | 518.6M | 562.3M | 543.3M | 485.7M |
| Accounts payable | 6.2M | 7.7M | 6.1M | 3.8M | 10.4M | 10.1M | 5.9M | 4.2M | 2.8M | 340K | 8.1M | 6.2M |
| Short-term debt | 2.8M | 2.6M | 2.8M | 3.2M | 3.3M | 2.9M | 3M | 3M | 2.9M | 2.8M | 2.6M | 2.7M |
| Total current liabilities | 121.1M | 156.6M | 149.1M | 149.5M | 149.7M | 68M | 55.8M | 57.2M | 62.3M | 43M | 55.3M | 57M |
| Long-term debt | 13.7M | 12.8M | 11.9M | 14.2M | 15.3M | 13.4M | 15.3M | 14.1M | 13.5M | 12.9M | 12.5M | 11.9M |
| Total liabilities | 189.7M | 284.9M | 252.3M | 239.1M | 226.2M | 121.3M | 105.1M | 102.7M | 101.9M | 78.2M | 87.5M | 86.1M |
| Shareholders' equity | 247.8M | 225.1M | 400.8M | 387.9M | 444.3M | 574.8M | 536.6M | 464.6M | 416.7M | 484.1M | 455.8M | 399.6M |
| Total debt | 16.5M | 15.4M | 14.6M | 17.4M | 18.6M | 16.2M | 18.4M | 17.1M | 16.4M | 15.6M | 15.1M | 14.6M |
| Net debt | -67M | -203.1M | -107.5M | -140.7M | -201.2M | -220.5M | -224.5M | -239.5M | -318.5M | -330.3M | -286.3M | -217.9M |
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 | -32.4M | -32.5M | -211.8M | -93.3M | 42M | -97M | 15.2M | -196.4M |
| Depreciation & amortization | 2.2M | 3.9M | 4.4M | 5.3M | 7M | 7.2M | 12.2M | 12.4M |
| Stock-based compensation | 1.5M | 852K | 23M | 26.4M | 22.6M | 20.7M | 17.6M | 15M |
| Change in working capital | 49.2M | 96.9M | -48.7M | -63.5M | 37.3M | 81.6M | -163.9M | -44M |
| Operating cash flow | 20.2M | 70.3M | -87.3M | -124.7M | 111.9M | -439K | -136.8M | -176.6M |
| Capital expenditure | -335K | -2M | -7.4M | -5.1M | -5.7M | -30.6M | -16.3M | — |
| Investing cash flow | -13.4M | -5M | -15.8M | 8M | -209.3M | -31.2M | -152.2M | 211.6M |
| Dividends paid | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — |
| Financing cash flow | 23.6M | -1.9M | 207.9M | -2.6M | 123.7M | 84.5M | 319.7M | 97.4M |
| Net change in cash | 30.4M | 63.5M | 104.8M | -119.3M | 26.3M | 52.8M | 30.7M | 132.3M |
| Free cash flow | 20.2M | 68.7M | -88.2M | -90.4M | 93.9M | -12.7M | -174.5M | -183.4M |
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 | 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 | -26.5M | -26.1M | -3.1M | -18.8M | -10.9M | 44.9M | -39.9M | -70.3M | -52.7M | -33.6M | -57.8M | -62.5M |
| Depreciation & amortization | 1.8M | 1.8M | 3M | 3.1M | 3.5M | 3.1M | 3.1M | 3M | 3.1M | 3.2M | 2.8M | 3M |
| Stock-based compensation | 4.7M | 4.4M | 4.3M | 4.3M | 5.2M | 4.5M | 4.3M | 4.1M | 3.2M | 3.3M | 5.9M | 5.1M |
| Change in working capital | -6M | 96M | -28.8M | -20.2M | -53.6M | -71.3M | -15.9M | 3.9M | -2M | -30M | 13.5M | -4.3M |
| Operating cash flow | -29.9M | 71.4M | -29.3M | -36.8M | -53.7M | -27M | -54.4M | -39.1M | -44.7M | -58.7M | -42M | -60.5M |
| Capital expenditure | -6.5M | -9.1M | -9.2M | -2.6M | -3.3M | -1.7M | -3M | — | — | — | — | — |
| Investing cash flow | -70.6M | 59.7M | -241.8M | 70M | 77.8M | -47.3M | 46.9M | 65.8M | 123.7M | -27.8M | -27.3M | -7.3M |
| Dividends paid | — | — | — | — | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — | — | — | — | — |
| Financing cash flow | 49.9M | -972K | 174.6M | -11.2M | -874.6K | 167.7M | 0 | 9K | -734K | 106.5M | 21.7M | 57K |
| Net change in cash | -50.5M | 130.2M | -96.5M | 22M | 23.2M | 93.3M | -7.6M | 26.8M | 78.3M | 20M | -47.7M | -67.7M |
| Free cash flow | -37M | 69.8M | -41.8M | -36M | -42.4M | -60.2M | -37.3M | -40.6M | -45.8M | -59.7M | -42.8M | -61.3M |