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 | -$0.12 | -$0.11 | +8.3% | — | $0 | — |
| Q1 26 | -$0.17 | -$0.11 | +35.3% | — | $0 | — |
| Q4 25 | -$0.3 | -$0.25 | +16.7% | — | $0 | — |
| Q3 25 | -$0.38 | -$0.32 | +15.8% | — | $0 | — |
| Q2 25 | -$0.37 | -$0.38 | -2.7% | — | $0 | — |
| Q1 25 | $0.06 | $0.89 | +1383.3% | — | $109.2M | — |
| Q4 24 | -$0.2 | -$0.43 | -115.0% | — | $4.2M | — |
| Q3 24 | -$0.45 | -$0.37 | +17.8% | — | $791K | — |
| Q2 24 | -$0.5 | -$0.38 | +24.0% | — | $771K | — |
| Q1 24 | -$0.45 | -$0.45 | 0.0% | — | $855K | — |
| Q4 23 | -$0.53 | -$0.46 | +13.2% | — | $268K | — |
| Q3 23 | -$0.49 | -$0.55 | -12.2% | — | $148K | — |
| Q2 23 | -$0.54 | -$0.49 | +9.3% | — | $99K | — |
| Q1 23 | -$0.52 | -$0.53 | -1.9% | — | $1.7M | — |
| Q4 22 | -$0.58 | -$0.55 | +5.2% | — | $521K | — |
| Q3 22 | -$0.6 | -$0.53 | +11.7% | — | $2.2M | — |
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 | — | -$0.14 | — | — | $109.2M | — |
| FY24 | — | -$1.61 | — | — | $6.6M | — |
| FY23 | — | -$2.3 | — | — | $2.2M | — |
| FY22 | — | -$2.27 | — | — | $5.2M | — |
| FY21 | — | -$2.96 |
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 | $0 | $0 | $0 | $5.2M | $2.2M | $6.6M | $109.2M |
| YoY change | — | 0% | 0% | +InfinityT% | -57% | +194.8% | +1.6K% |
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 | 0 | 0 | 0 | 5.2M | 2.2M | 6.6M | 109.2M |
| Cost of revenue | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — |
| Research & development | 14.3M | 39.7M | 75.6M | 97.2M | 92.7M | 107.2M | 95.7M |
| Selling, general & administrative | 5.8M | 9.5M | 19.2M | 31.9M | 34.7M | 33.2M | 24M |
| Operating expenses | 20M | 49.2M | 94.9M | 129M | 127.4M | 140.4M | 119.7M |
| Operating income | -20M | -49.2M | -94.9M | -123.8M | -125.2M | -133.8M | -10.5M |
| Operating margin | — | — | — | -2.4K% | -5.6K% | -2K% | -9.62% |
| Non-operating income, net | -224.7M | -4M | 377K | -10M | -21.7M | -4M | -6.5M |
| Pretax income | -244.8M | -53.6M | -95.8M | -130.8M | -134.8M | -124.8M | -9.6M |
| Income tax | — | — | 43K | 91K | 1.9M | 1.8M | -68K |
| Net income | -244.8M | -53.6M | -95.8M | -130.9M | -136.7M | -126.6M | -9.6M |
| Net margin | — | — | — | -2.5K% | -6.1K% | -1.9K% | -8.78% |
| EBITDA | -18.6M | -47.2M | -91.1M | -111.2M | -99.8M | -107.1M | 9.4M |
| EPS | -5.88 | -1.28 | -2.96 | -2.27 | -2.3 | -1.61 | -0.14 |
| Diluted EPS | -5.88 | -1.28 | -2.96 | -2.27 | -2.3 | -1.61 | -0.14 |
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 | 148K | 268K | 855K | 771K | 791K | 4.2M | 109.2M | 0 | 0 | 0 | 0 | 0 |
| Cost of revenue | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — | — | — | — | — | — |
| Research & development | — | — | — | — | — | — | — | — | 22.5M | 19.7M | 17.1M | 19.6M |
| Selling, general & administrative | — | — | — | — | — | — | — | — | 6.8M | 956K | 6.6M | 5.8M |
| Operating expenses | — | — | — | — | — | — | — | — | 29.4M | 20.7M | 23.7M | 25.4M |
| Operating income | — | — | — | — | — | — | — | — | -29.4M | -20.7M | -23.7M | -25.4M |
| Operating margin | — | — | — | — | — | — | — | — | — | — | — | — |
| Non-operating income, net | — | — | — | — | — | — | — | — | -6.7M | 103K | 20K | -11.2M |
| Pretax income | — | — | — | — | — | — | — | — | -34.4M | -19.2M | -21.6M | -34.5M |
| Income tax | — | — | — | — | — | — | — | — | 0 | -68K | — | — |
| Net income | — | — | — | — | — | — | — | — | -34.4M | -19.2M | -21.6M | -34.5M |
| Net margin | — | — | — | — | — | — | — | — | — | — | — | — |
| EBITDA | — | — | — | — | — | — | — | — | -19.5M | -17.1M | -20.7M | -11.6M |
| EPS | -0.55 | — | -0.45 | -0.38 | -0.37 | — | 0.89 | -0.38 | -0.4 | — | -0.11 | -0.17 |
| Diluted EPS | -0.55 | — | -0.45 | -0.38 | -0.37 | — | 0.89 | -0.38 | -0.4 | — | -0.11 | -0.17 |
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 | — | — | — | — | 196.9M | — | — | 302.4M |
| Enterprise value | — | — | — | — | 72.4M | — | — | 221.3M |
| Shares outstanding | 41.6M | 41.8M | 32.4M | 57.8M | 59.3M | 78.6M | 86.6M | 86.6M |
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| P/E | — | — | — | — | — | — | — | -11.9 |
| P/S | — | — | — | — | 88.1 | — | — | 2.77 |
| P/B | — | — | — | — | 1.07 | — | — | 1.3 |
| EV/EBITDA | — | — | — | — | -0.72 | — | — | -2.33 |
| EV/Sales | — | — | — | — | 32.4 | — | — | 2.03 |
| Earnings yield | — | — | — | — | — | — | — | -8.41% |
| FCF yield | — | — | — | — | -51.8% | — | — | -16.7% |
| PEG | — | — | — | — | — | — | — | 0.22 |
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| Operating margin | — | — | — | -2.4K% | -5.6K% | -2K% | -9.62% | -9.62% |
| Net margin | — | — | — | -2.5K% | -6.1K% | -1.9K% | -8.78% | 0% |
| ROE | 266.5% | 50.3% | -24.2% | -43.2% | -74% | -78.4% | -6.03% | -49.7% |
| ROA | -269.3% | -50.2% | -21.9% | -26.9% | -37.9% | -35.8% | -4.28% | -23.5% |
| ROIC | — | — | -47.8% | -337.8% | -208% | -516.6% | -12.3% | -12.3% |
| Return on tangible assets | -269.3% | -60.9% | -21.9% | -26.9% | -37.9% | -44.4% | -6.17% | -50.2% |
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| Current ratio | 28.1 | 6.51 | 14.6 | 10.7 | 9.92 | 1.5 | 5.97 | 8.28 |
| Quick ratio | 28.1 | 6.51 | 14.6 | 10.7 | 9.92 | 1.5 | 5.97 | 8.28 |
| Debt / equity | 0 | -0.2 | 0.06 | 0.16 | 0.26 | 0.33 | 0.27 | 0.17 |
| Debt / assets | 0 | 0.2 | 0.06 | 0.1 | 0.13 | 0.15 | 0.19 | 0.13 |
| Net debt / EBITDA | 4.39 | 1.15 | 2.17 | 2.39 | 1.25 | 1.26 | -7.86 | 1.18 |
| Interest coverage | — | -184.4 | -97.8 | -108 | -248.6 | — | — | — |
| Effective tax rate | — | — | 0% | 0% | 0% | 0% | 0% | 0% |
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| Revenue per share | 0 | 0 | 0 | 0.09 | 0.04 | 0.08 | 1.26 | 1.26 |
| EPS (basic) | -5.88 | -1.28 | -2.96 | -2.27 | -2.3 | -1.61 | -0.14 | -0.14 |
| EPS (diluted) | -5.88 | -1.28 | -2.96 | -2.27 | -2.3 | -1.61 | -0.14 | -0.93 |
| Book value per share | -2.21 | -2.55 | 12.2 | 5.24 | 3.11 | 2.05 | 1.84 | 1.29 |
| FCF per share | -0.45 | -1.22 | -4.14 | -0.29 | -1.72 | -1.4 | -1.21 | -0.43 |
| Cash per share | 1.96 | 1.81 | 6.88 | 5.46 | 2.91 | 2.41 | 1.35 | 0.66 |
| Capex per share | 0.06 | 0.24 | 1.39 | 0.53 | 0.23 | 0 | — | — |
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| Capex / revenue | — | — | — | 588.7% | 614.6% | 2.34% | — | — |
| Capex / operating cash flow | -1.01% | -20.4% | -51.5% | 337.5% | -13.6% | -0.14% | — | — |
| Payout ratio | — | — | — | — | — | — | — | 0% |
| — |
| — |
| $0 |
| — |
| FY20 | — | -$1.28 | — | — | $0 | — |
| FY19 | — | -$5.88 | — | — | $0 | — |
| Q1 24 |
|---|
| Q2 24 |
|---|
| Q3 24 |
|---|
| Q4 24 |
|---|
| Q1 25 |
|---|
| Q2 25 |
|---|
| Q3 25 |
|---|
| Q4 25 |
|---|
| Q1 26 |
|---|
| Q2 26 |
|---|
| Revenue | $148K | $268K | $855K | $771K | $791K | $4.2M | $109.2M | $0 | $0 | $0 | $0 | $0 |
| YoY change | -93.3% | -48.6% | -50.3% | +678.8% | +434.5% | +1.5K% | +12.7K% | -100% | -100% | -100% | -100% | 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 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|
| Cash & short-term investments | 81.5M | 75.8M | 222.9M | 315.5M | 172.7M | 189.3M | 117.1M |
| Receivables | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — |
| Total current assets | 84.1M | 78.8M | 228.2M | 319.7M | 177M | 194.1M | 120.8M |
| Property, plant & equipment | 2.5M | 24.8M | 69.8M | 111.7M | 92.1M | 90.8M | 66.2M |
| Goodwill & intangibles | 0 | 18.8M | — | — | — | 68.4M | 68.4M |
| Total assets | 90.9M | 106.8M | 437.4M | 486.5M | 360.7M | 353.2M | 223.7M |
| Accounts payable | 1.5M | 8.1M | 7.6M | 5.5M | 2.7M | 3.1M | 4.8M |
| Short-term debt | — | 240K | 1.7M | 7M | 1.5M | 4.9M | 3.3M |
| Total current liabilities | 3M | 12.1M | 15.7M | 29.8M | 17.8M | 129.8M | 20.2M |
| Long-term debt | 0 | 21.3M | 23.5M | 42.4M | 46.7M | 49M | 40.2M |
| Total liabilities | 182.8M | 213.2M | 41.1M | 183.8M | 175.9M | 191.9M | 64.8M |
| Shareholders' equity | -91.9M | -106.4M | 396.2M | 302.7M | 184.8M | 161.4M | 158.9M |
| Total debt | 0 | 21.6M | 25.1M | 49.4M | 48.2M | 53.8M | 43.6M |
| Net debt | -44.1M | -5.7M | -31.3M | -34.9M | 847K | -4.6M | -18.3M |
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 | 169.5M | 172.7M | 192M | 196.4M | 198.1M | 189.3M | 165.1M | 155.8M | 132.7M | 117.1M | 134.8M | 119.7M |
| Receivables | — | — | — | — | — | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current assets | 173.7M | 177M | 199.8M | 203.5M | 206M | 194.1M | 169.6M | 160.2M | 137.7M | 120.8M | 139M | 124.8M |
| Property, plant & equipment | 106.5M | 92.1M | 88.3M | 98M | 94.1M | 90.8M | 87.8M | 84.4M | 70.3M | 66.2M | 68.6M | 48M |
| Goodwill & intangibles | — | — | — | 76.8M | 77.1M | 68.4M | 68.4M | 68.4M | 68.4M | 68.4M | 68.4M | 68.4M |
| Total assets | 397.6M | 360.7M | 348.5M | 416.4M | 388.6M | 353.2M | 315.6M | 284.7M | 244.7M | 223.7M | 326.6M | 287M |
| Accounts payable | 5.9M | 2.7M | 3.4M | 3.4M | 2.6M | 3.1M | 3.6M | 3.2M | 2.6M | 4.8M | 3.1M | 4.8M |
| Short-term debt | 2M | 1.5M | 2.2M | 3.7M | 3.8M | 4.9M | 4.9M | 4.9M | 3.8M | 3.3M | 4.1M | 4M |
| Total current liabilities | 20.4M | 17.8M | 16.1M | 19.2M | 19.8M | 129.8M | 14.5M | 14.9M | 22M | 20.2M | 13.6M | 15.1M |
| Long-term debt | 45.5M | 46.7M | 44.3M | 52.7M | 50.8M | 49M | 47.8M | 46.6M | 41.2M | 40.2M | 43.9M | 34.6M |
| Total liabilities | 178.3M | 175.9M | 170.6M | 194.3M | 192.9M | 191.9M | 75.2M | 74.8M | 68.4M | 64.8M | 61.8M | 54.7M |
| Shareholders' equity | 219.2M | 184.8M | 177.9M | 222.1M | 195.7M | 161.4M | 240.4M | 209.9M | 176.3M | 158.9M | 264.7M | 232.3M |
| Total debt | 47.6M | 48.2M | 46.5M | 56.4M | 54.6M | 53.8M | 52.7M | 51.5M | 45M | 43.6M | 48M | 38.7M |
| Net debt | -7.7M | 847K | -346K | 14.9M | 2M | -4.6M | 810K | -5.4M | -10.6M | -18.3M | -3M | -11M |
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 | -244.8M | -53.6M | -95.8M | -130.9M | -136.7M | -126.6M | -9.6M |
| Depreciation & amortization | 249K | 1.4M | 3.7M | 8.4M | 13M | 13.3M | 13.1M |
| Stock-based compensation | 147K | 876K | 4.7M | 10.7M | 14.6M | 12.7M | 6.8M |
| Change in working capital | 1.2M | 2.7M | -1.1M | 119M | 9.4M | -11.4M | -112.6M |
| Operating cash flow | -243.1M | -48.1M | -87.3M | 9.1M | -100.7M | -111.8M | -103.9M |
| Capital expenditure | -2.5M | -9.8M | -45M | -30.6M | -13.7M | -154K | — |
| Investing cash flow | -44M | -22.8M | -298.3M | -13.1M | 61.1M | 47.5M | 108.3M |
| Dividends paid | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — |
| Financing cash flow | 74.8M | 47.7M | 415.5M | 27.2M | -9.7M | 74.6M | 173K |
| Net change in cash | -212.3M | -23.2M | 29.8M | 23.1M | -49.3M | 10.3M | 4.6M |
| Free cash flow | -18.6M | -51.1M | -134M | -16.6M | -102.1M | -110.3M | -104.7M |
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 | -32.7M | -39.4M | -28.1M | -31.2M | -31.2M | -36.1M | 76.6M | -32.5M | -34.4M | -19.2M | -21.6M | -34.5M |
| Depreciation & amortization | 3.4M | 3.6M | 3.2M | 3.5M | 3.3M | 3.3M | 3.2M | 3.2M | 3.1M | 3.5M | 3M | 2.6M |
| Stock-based compensation | 4M | 3.6M | 3.2M | 3.5M | 3.3M | 2.7M | 2.4M | 2.2M | 892K | 1.3M | 1.4M | 1.9M |
| Change in working capital | 8.6M | -783K | -2.4M | -322K | -4.3M | -4.5M | -110.2M | -1.3M | -1.8M | 758K | -4.2M | 684K |
| Operating cash flow | -17.3M | -32.3M | -22.4M | -27M | -28.5M | -34.7M | -27.5M | -27.6M | -25.6M | -16.1M | -25.3M | -19.8M |
| Capital expenditure | -3.3M | -980K | -539K | -265K | 825K | -175K | -475K | — | — | — | — | — |
| Investing cash flow | 4.2M | 18.6M | 11.5M | -24.3M | 39.2M | 30.6M | 27.9M | 32.9M | 24.9M | 22.2M | -112M | 18.4M |
| Dividends paid | — | — | — | — | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — | — | — | — | — |
| Financing cash flow | 300K | -356K | 18.2M | 56.7M | 273K | -602K | 120K | 0 | 0 | 53K | 126.6M | 311K |
| Net change in cash | -12.7M | -14M | 7.3M | 5.4M | 10.9M | -4.7M | 536K | 5.3M | -718K | 6.2M | -10.7M | -1.1M |
| Free cash flow | -16.9M | -27.2M | -30.8M | -27.6M | -27.5M | -24.4M | -35.1M | -27.9M | -25.8M | -15.9M | -25.8M | -20.5M |