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 % |
|---|---|---|---|---|---|---|
| Q1 27 | -$0.61 | -$0.68 | -11.5% | — | $0 | — |
| Q4 26 | -$0.63 | -$0.67 | -6.3% | — | $0 | — |
| Q3 26 | -$0.69 | -$0.54 | +21.7% | — | $0 | — |
| Q2 26 | -$0.73 | -$0.65 | +11.0% | — | $0 | — |
| Q1 26 | -$0.67 | -$0.71 | -6.0% | — | $0 | — |
| Q4 25 | -$0.72 | -$0.64 | +11.1% | — | $0 | — |
| Q3 25 | -$0.75 | -$0.76 | -1.3% | — | $0 | — |
| Q2 25 | -$0.59 | -$0.74 | -25.4% | — | $0 | — |
| Q1 25 | -$0.52 | -$0.6 | -15.4% | — | $0 | — |
| Q4 24 | -$0.43 | -$0.52 | -20.9% | — | $0 | — |
| Q3 24 | -$0.42 | -$0.36 | +14.3% | — | $0 | — |
| Q2 24 | -$0.46 | -$0.45 | +2.2% | — | $0 | — |
| Q1 24 | -$0.44 | -$0.57 | -29.5% | — | $0 | — |
| Q4 23 | -$0.41 | -$0.46 | -12.2% | — | $0 | — |
| Q3 23 | -$0.37 | -$0.49 | -32.4% | — | $0 | — |
| Q2 23 | -$0.36 | -$0.41 | -13.9% | — | $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 % |
|---|---|---|---|---|---|---|
| FY26 | — | -$2.77 | — | — | $0 | — |
| FY25 | — | -$2.73 | — | — | $0 | — |
| FY24 | — | -$1.88 | — | — | $0 | — |
| FY23 | — | -$1.71 | — | — | $0 | — |
| FY22 | — | -$1.43 |
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 | FY26 |
|---|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| YoY change | — | 0% | 0% | 0% | 0% | 0% | 0% |
Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.
| Period | Q2 24 | Q3 24 | Q4 24 | Q1 25 |
|---|
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 | FY26 |
|---|---|---|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cost of revenue | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — |
| Research & development | 47.9M | 68.6M | 101.8M | 160.3M | 212.9M | 360.9M | 456.7M |
| Selling, general & administrative | 18.2M | 39.5M | 54.2M | 48M | 57.3M | 77.2M | 76.2M |
| Operating expenses | 66.1M | 108.1M | 156M | 208.3M | 270.2M | 438.2M | 532.9M |
| Operating income | -66.1M | -108.1M | -156M | -208.3M | -270.2M | -438.2M | -532.9M |
| Operating margin | — | — | — | — | — | — | — |
| Non-operating income, net | 412K | 328K | -781K | -10.3M | -13.5M | 471K | 2.2M |
| Pretax income | -66.3M | -107.8M | -156.8M | -211M | -258.8M | -412.9M | -505.4M |
| Income tax | 97K | -358K | -84K | 9K | 567K | 891K | 215K |
| Net income | -66.4M | -107.4M | -156.7M | -211M | -259.3M | -413.8M | -505.6M |
| Net margin | — | — | — | — | — | — | — |
| EBITDA | -65.6M | -108.1M | -155.9M | -198.1M | -257.5M | -437.8M | -532.5M |
| EPS | -1.54 | -1.22 | -1.43 | -1.71 | -1.88 | -2.73 | -2.77 |
| Diluted EPS | -1.54 | -1.22 | -1.43 | -1.71 | -1.88 | -2.73 | -2.77 |
Revenue, gross profit, operating income, and net income per period.
Click a row to chart it; unreported figures show a dash.
| Period | Q2 24 | Q3 24 | Q4 24 | Q1 25 | Q2 25 | Q3 25 | Q4 25 | Q1 26 | Q2 26 | Q3 26 | Q4 26 | Q1 27 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cost of revenue | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — | — | — | — | — | — |
| Research & development | — | — | — | — | — | — | — | — | 114.2M | 98.9M | 142.3M | 142.6M |
| Selling, general & administrative | — | — | — | — | — | — | — | — | 17.5M | 15.4M | 17.3M | 17.7M |
| Operating expenses | — | — | — | — | — | — | — | — | 131.8M | 114.4M | 159.6M | 160.3M |
| Operating income | — | — | — | — | — | — | — | — | -131.8M | -114.4M | -159.6M | -160.3M |
| Operating margin | — | — | — | — | — | — | — | — | — | — | — | — |
| Non-operating income, net | — | — | — | — | — | — | — | — | 250K | -54K | 798K | 4K |
| Pretax income | — | — | — | — | — | — | — | — | -125.9M | -109.1M | -150.7M | -153.2M |
| Income tax | — | — | — | — | — | — | — | — | 594K | 1.6M | -2.8M | 0 |
| Net income | — | — | — | — | — | — | — | — | -126.5M | -110.6M | -147.9M | -153.2M |
| Net margin | — | — | — | — | — | — | — | — | — | — | — | — |
| EBITDA | — | — | — | — | — | — | — | — | -131.7M | -114.3M | -159.5M | -160.2M |
| EPS | -0.45 | -0.36 | — | -0.6 | -0.74 | -0.76 | -0.64 | -0.71 | -0.73 | -0.61 | -0.73 | -0.75 |
| Diluted EPS | -0.45 | -0.36 | — | -0.6 | -0.74 | -0.76 | -0.64 | -0.71 | -0.73 | -0.61 | -0.73 | -0.75 |
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 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Market cap | — | 672.4M | — | — | — | — | 2.6B | — | 6.9B |
| Enterprise value | — | 571.8M | — | — | — | — | 1.9B | — | 6.1B |
| Shares outstanding | — | 43.2M | 87.8M | 109.7M | 123.1M | 138.1M | 151.6M | 182.4M | 182.4M |
| Metric | FY18 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | Current |
|---|---|---|---|---|---|---|---|---|---|
| P/E | — | — | — | — | — | — | — | — | -12.1 |
| P/B | — | 7.15 | — | — | — | — | 3.66 | — | 9.34 |
| EV/EBITDA | — | -8.71 | — | — | — | — | -4.29 | — | -10.8 |
| Earnings yield | — | — | — | — | — | — | — | — | -8.27% |
| FCF yield | — | -7.94% | — | — | — | — | -14.5% | — | -3.45% |
| PEG | — | — | — | — | — | — | — | — | -2.15 |
| Metric | FY18 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Operating margin | — | — | — | — | — | — | — | — | 0% |
| Net margin | — | — | — | — | — | — | — | — | 0% |
| ROE | — | -70.6% | -27.4% | -33.4% | -58.2% | -42% | -58.5% | -59.3% | -80.1% |
| ROA | — | -60.7% | -26% | -30.4% | -52% | -38.9% | -53.3% | -52.8% | -46.7% |
| ROIC | — | 1K% | 2.1K% | 721.4% | 1.6K% | 1.5K% | 6.8K% | 1.1K% | 906.9% |
| Return on tangible assets | — | -60.7% | -26% | -30.4% | -52% | -38.9% | -53.3% | -52.8% | -63.1% |
| Metric | FY18 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Current ratio | — | 7.12 | 21.8 | 11.5 | 9.34 | 13.7 | 11.2 | 9.09 | 7.27 |
| Quick ratio | — | 7.12 | 21.8 | 11.5 | 9.34 | 13.7 | 11.2 | 9.09 | 7.27 |
| Debt / equity | — | 0 | 0.01 | 0.01 | 0 | 0 | 0 | 0 | 0 |
| Debt / assets | — | 0 | 0.01 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net debt / EBITDA | — | 1.53 | 3.67 | 3.15 | 1.89 | 2.47 | 1.63 | 1.69 | 1.41 |
| Interest coverage | — | -105.1 | — | — | — | — | — | — | — |
| Effective tax rate | — | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Metric | FY18 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Revenue per share | — | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (basic) | — | -1.54 | -1.22 | -1.43 | -1.71 | -1.88 | -2.73 | -2.77 | -2.77 |
| EPS (diluted) | — | -1.54 | -1.22 | -1.43 | -1.71 | -1.88 | -2.73 | -2.77 | -2.81 |
| Book value per share | — | 2.18 | 4.46 | 4.28 | 2.95 | 4.47 | 4.67 | 4.67 | 3.56 |
| FCF per share | — | -1.24 | -0.95 | -0.97 | -1.53 | -1.55 | -2.48 | -2.23 | -2.02 |
| Cash per share | — | 2.33 | 4.56 | 4.5 | 3.06 | 4.6 | 4.71 | 4.95 | 3.86 |
| Capex per share | — | 0 | 0 | 0 | 0 | 0 | 0.01 | — | — |
| Metric | FY18 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Capex / operating cash flow | — | -0.05% | -0.24% | -0.22% | -0.11% | -0.17% | -0.21% | — | — |
| Payout ratio | — | — | — | — | — | — | — | — | 0% |
| — |
| — |
| $0 |
| — |
| FY21 | — | -$1.22 | — | — | $0 | — |
| FY20 | — | -$1.54 | — | — | $0 | — |
| Q2 25 |
|---|
| Q3 25 |
|---|
| Q4 25 |
|---|
| Q1 26 |
|---|
| Q2 26 |
|---|
| Q3 26 |
|---|
| Q4 26 |
|---|
| Q1 27 |
|---|
| Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| YoY change | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
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 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|---|
| Cash & short-term investments | 325K | 100.6M | 400.1M | 493.8M | 376.5M | 635.4M | 714M | 902.1M |
| Receivables | — | — | 596K | 12.2M | 700K | 5.3M | 2.1M | 1.1M |
| Inventory | — | — | — | — | — | — | — | — |
| Total current assets | 325K | 109.1M | 409M | 512.9M | 404.3M | 665.8M | 767.7M | 948.8M |
| Property, plant & equipment | — | 65K | 3.5M | 2.6M | 1.5M | 595K | 942K | 515K |
| Goodwill & intangibles | — | — | — | — | — | — | — | — |
| Total assets | 405K | 109.4M | 412.5M | 515.6M | 405.8M | 666.4M | 776.2M | 957M |
| Accounts payable | — | 1.2M | 2.4M | 18.6M | 1.4M | 7.2M | 17.7M | 7.5M |
| Short-term debt | 300K | — | 1.2M | 1.1M | 1.2M | 138K | 98K | 72K |
| Total current liabilities | 380.4K | 15.3M | 18.8M | 44.5M | 43.3M | 48.6M | 68.8M | 104.4M |
| Long-term debt | — | 0 | 2.2M | 1.2M | 47K | 0 | — | — |
| Total liabilities | 380.4K | 15.3M | 21M | 45.7M | 43.3M | 48.6M | 68.8M | 104.4M |
| Shareholders' equity | 24.6K | 94.1M | 391.5M | 469.8M | 362.5M | 617.8M | 707.4M | 852.6M |
| Total debt | 300K | 0 | 3.4M | 2.4M | 1.2M | 138K | 98K | 72K |
| Net debt | -25K | -100.6M | -396.7M | -491.5M | -375.3M | -635.2M | -713.9M | -902M |
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 | Q2 24 | Q3 24 | Q4 24 | Q1 25 | Q2 25 | Q3 25 | Q4 25 | Q1 26 | Q2 26 | Q3 26 | Q4 26 | Q1 27 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & short-term investments | 269.9M | 690.9M | 635.4M | 560M | 472.9M | 374.7M | 714M | 598.9M | 521.9M | 994.5M | 902.1M | 797.8M |
| Receivables | 1.4M | 1M | 5.3M | 2.4M | 1.9M | 2.2M | 2.1M | 1.9M | 2M | 1.6M | 1.1M | 697K |
| Inventory | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current assets | 291.2M | 710.8M | 665.8M | 589M | 507.4M | 412.5M | 767.7M | 651.8M | 573.5M | 1B | 948.8M | 851.2M |
| Property, plant & equipment | 893K | 670K | 595K | 565K | 716K | 774K | 942K | — | — | — | 515K | — |
| Goodwill & intangibles | — | — | — | — | — | — | — | — | — | — | — | — |
| Total assets | 292.1M | 711.4M | 666.4M | 589.7M | 515.7M | 420.9M | 776.2M | 661.4M | 583M | 1.1B | 957M | 852.5M |
| Accounts payable | 7.5M | 3.9M | 7.2M | 11M | 20.7M | 19.8M | 17.7M | 7.8M | 6.9M | 8.6M | 7.5M | 10.1M |
| Short-term debt | 614K | 306K | 138K | 69K | 47K | 23K | 98K | — | — | — | 72K | — |
| Total current liabilities | 40.3M | 32.1M | 48.6M | 45M | 66.7M | 68.3M | 68.8M | 52.9M | 63.3M | 66.3M | 104.4M | 117.1M |
| Long-term debt | 0 | 0 | 0 | — | — | — | — | — | — | — | — | — |
| Total liabilities | 40.3M | 32.1M | 48.6M | 45M | 66.7M | 68.3M | 68.8M | 52.9M | 63.3M | 66.3M | 104.4M | 117.1M |
| Shareholders' equity | 251.8M | 679.3M | 617.8M | 544.7M | 449.1M | 352.6M | 707.4M | 608.5M | 519.7M | 986.1M | 852.6M | 735.4M |
| Total debt | 614K | 306K | 138K | 69K | 47K | 23K | 98K | — | — | — | 72K | — |
| Net debt | -269.3M | -690.6M | -635.2M | -559.9M | -472.9M | -374.7M | -713.9M | — | — | — | -902M | — |
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 | FY26 |
|---|---|---|---|---|---|---|---|
| Net income | -66.4M | -107.4M | -156.7M | -211M | -259.3M | -413.8M | -505.6M |
| Depreciation & amortization | 21K | 65K | 126K | 193K | 231K | 377K | 409K |
| Stock-based compensation | 7M | 18.8M | 34.2M | 32.3M | 41.1M | 49.5M | 55.7M |
| Change in working capital | 884K | -655K | 3.4M | -6M | 54K | 5.8M | -11.7M |
| Operating cash flow | -58.5M | -88.5M | -117.9M | -183.4M | -216.8M | -358.1M | -407.3M |
| Capital expenditure | -31K | -210K | -254K | -197K | -360K | -759K | — |
| Investing cash flow | -31K | -210K | -254K | -197K | -360K | -759K | — |
| Dividends paid | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — |
| Financing cash flow | 142M | 313.3M | 200.1M | 70.2M | 466.7M | 449.7M | 543.7M |
| Net change in cash | 83.4M | 224.5M | 82M | -113.4M | 249.6M | 90.9M | 136.4M |
| Free cash flow | -53.4M | -83.5M | -106.4M | -188.4M | -214.6M | -376.6M | -407.3M |
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 | Q2 24 | Q3 24 | Q4 24 | Q1 25 | Q2 25 | Q3 25 | Q4 25 | Q1 26 | Q2 26 | Q3 26 | Q4 26 | Q1 27 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net income | -58.7M | -51.4M | -75.3M | -87.2M | -109.1M | -111.1M | -106.4M | -120.6M | -126.5M | -110.6M | -147.9M | -153.2M |
| Depreciation & amortization | 56K | 58K | 64K | 80K | 89K | 99K | 109K | 107K | 105K | 101K | 96K | 92K |
| Stock-based compensation | 10.5M | 10.2M | 9.7M | 13.5M | 12.7M | 11.7M | 11.7M | 18.5M | 13.4M | 12.7M | 11.1M | 13.8M |
| Change in working capital | -19.8M | -3.7M | -987K | 6.7M | 1.7M | 50K | -2.7M | -10.6M | -923K | 1.8M | -1.9M | 9.8M |
| Operating cash flow | -67.6M | -44.6M | -66.3M | -66.8M | -94.6M | -99.3M | -97.3M | -117.4M | -102.5M | -92.3M | -95.1M | -124.4M |
| Capital expenditure | -34K | -131K | -150K | -182K | -196K | -180K | -201K | — | — | — | — | — |
| Investing cash flow | -34K | -131K | -150K | -182K | -196K | -180K | -201K | — | — | — | — | — |
| Dividends paid | — | — | — | — | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — | — | — | — | — |
| Financing cash flow | — | — | 0 | — | — | — | 450M | — | — | — | 82K | — |
| Net change in cash | -67.6M | -44.7M | -66.5M | -67M | -94.8M | -99.5M | 352.5M | -117.4M | -102.5M | -92.3M | -95M | -124.4M |
| Free cash flow | -60.1M | -47.2M | -59.8M | -76.4M | -88.8M | -100.6M | -110.8M | -117.4M | -102.5M | -92.3M | -95.1M | -124.4M |