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 | -$0.14 | -$0.14 | 0.0% | — | $14.3M | — |
| Q3 25 | -$0.09 | -$0.06 | +33.3% | — | $13.1M | — |
| Q2 25 | $0.01 | -$0.12 | -1300.0% | — | $11.8M | — |
| Q1 25 | -$0.01 | -$0.14 | -1300.0% | — | $11.3M | — |
| Q4 24 | -$0.1 | -$0.15 | -50.0% | — | $13.8M | — |
| Q3 24 | -$0.35 | -$0.51 | -45.7% | — | $9.3M | — |
| Q2 24 | -$0.39 | -$0.4 | -2.6% | — | $2.3M | — |
| Q1 24 | -$0.39 | -$0.38 | +2.6% | — | $0 | — |
| Q4 23 | -$0.47 | -$0.67 | -42.6% | — | $0 | — |
| Q3 23 | -$0.5 | -$0.36 | +28.0% | — | $0 | — |
| Q2 23 | -$0.34 | -$0.46 | -35.3% | — | $0 | — |
| Q1 23 | -$0.3 | -$0.32 | -6.7% | — | $0 | — |
| Q4 22 | -$0.39 | -$0.25 | +35.9% | — | $0 | — |
| Q3 22 | -$0.49 | -$0.42 | +14.3% | — | $0 | — |
| Q2 22 | -$0.5 | -$0.47 | +6.0% | — | $0 | — |
| Q1 22 | -$0.56 | -$0.91 | -62.5% | — | $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 | — | -$0.3 | — | — | $53.4M | — |
| FY24 | — | -$1.43 | — | — | $25.4M | — |
| FY23 | — | -$1.81 | — | — | $0 | — |
| FY22 | — | -$2.23 | — | — | $0 | — |
| FY21 | — | -$5.32 | — | — |
Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.
| Period | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $25.4M | $53.4M |
| YoY change | — | 0% | 0% | +InfinityT% | +110.5% |
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 | Q1 25 | Q2 25 | Q3 25 |
|---|
Revenue, gross profit, operating income, and net income per period.
Click a row to chart it; unreported figures show a dash.
| Period | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | 25.4M | 53.4M |
| Cost of revenue | — | — | — | 1.6M | 3.7M |
| Gross profit | — | — | — | 23.8M | 49.7M |
| Gross margin | — | — | — | 93.6% | 93% |
| Research & development | 182.9M | 179.2M | 158.7M | 137.3M | 38.3M |
| Selling, general & administrative | 36.5M | 47M | 49.1M | 63.4M | 66.9M |
| Operating expenses | 219.4M | 226.3M | 207.8M | 200.6M | 105.2M |
| Operating income | -219.4M | -226.3M | -207.8M | -176.9M | -55.6M |
| Operating margin | — | — | — | -696.8% | -104% |
| Non-operating income, net | -7.4M | -15.1M | 9.1M | 7M | 3.1M |
| Pretax income | -226.8M | -241.3M | -198.6M | -169.9M | -52.5M |
| Income tax | — | — | — | — | — |
| Net income | -226.8M | -241.3M | -198.6M | -169.9M | -52.5M |
| Net margin | — | — | — | -669.4% | -98.2% |
| EBITDA | -211.9M | -204M | -200.8M | -173.8M | -53.5M |
| EPS | -5.32 | -2.23 | -1.81 | -1.43 | -0.3 |
| Diluted EPS | -5.32 | -2.23 | -1.81 | -1.43 | -0.3 |
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 | 0 | 0 | 0 | 2.3M | 9.3M | 13.8M | 11.3M | 11.8M | 13.1M | 17.2M | 13.7M | 14.3M |
| Cost of revenue | 0 | — | — | 88K | 806K | 724K | 834K | 685K | 1.1M | 1.1M | 1M | 1.3M |
| Gross profit | 0 | — | — | 2.2M | 8.5M | 13.1M | 10.5M | 11.1M | 12M | 16.1M | 12.7M | 13M |
| Gross margin | — | — | — | 96.1% | 91.3% | 94.8% | 92.6% | 94.2% | 91.7% | 93.4% | 92.5% | 91.1% |
| Research & development | 25.6M | 62.3M | 31.2M | 30.3M | 57.9M | 17.9M | 10.6M | 9.6M | 8M | 10M | 30.7M | 29.4M |
| Selling, general & administrative | 12.9M | 15.1M | 14.9M | 21.1M | 13M | 14.4M | 16.8M | 16.6M | 15M | 18.6M | 25.1M | 29.5M |
| Operating expenses | 38.5M | 77.4M | 46.1M | 51.4M | 70.8M | 32.3M | 27.4M | 26.2M | 23.1M | 28.6M | 55.8M | 58.8M |
| Operating income | -38.5M | -77.4M | -46.1M | -49.2M | -62.3M | -19.2M | -16.9M | -15.1M | -11M | -12.6M | -43.1M | -45.8M |
| Operating margin | — | — | — | -2.2K% | -670% | -139.1% | -149.7% | -127.8% | -84% | -73% | -313.9% | -320.8% |
| Non-operating income, net | -980K | 3.7M | 2.6M | 2M | 1.6M | 786K | 633K | 400K | 553K | 1.5M | 1.7M | 1.4M |
| Pretax income | -39.4M | -73.7M | -43.5M | -47.2M | -60.7M | -18.4M | -16.3M | -14.7M | -10.5M | -11.1M | -41.4M | -44.4M |
| Income tax | — | — | — | — | — | — | — | — | — | — | — | — |
| Net income | -39.4M | -73.7M | -43.5M | -47.2M | -60.7M | -18.4M | -16.3M | -14.7M | -10.5M | -11.1M | -41.4M | -44.4M |
| Net margin | — | — | — | -2.1K% | -653.1% | -133.5% | -144.1% | -124.4% | -79.7% | -64.3% | -301.2% | -310.8% |
| EBITDA | -33.4M | -77.4M | -45.6M | -48.7M | -61.8M | -17.7M | -16.2M | -14.6M | -10.6M | -12.1M | -42.6M | -45.2M |
| EPS | -0.36 | — | -0.38 | -0.4 | -0.51 | — | -0.14 | -0.12 | -0.06 | — | -0.13 | -0.14 |
| Diluted EPS | -0.36 | — | -0.38 | -0.4 | -0.51 | — | -0.14 | -0.12 | -0.06 | — | -0.13 | -0.14 |
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 | — | 309.4M | — | 431.5M | 52.5M | — | 280M |
| Enterprise value | — | -282M | — | 233.1M | -15.5M | — | 123.7M |
| Shares outstanding | — | 42.6M | 108.3M | 109.5M | 118.6M | 172.2M | 172.2M |
| Metric | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| P/E | — | — | — | — | — | — | -3.18 |
| P/S | — | — | — | — | 2.07 | — | 4.72 |
| P/B | — | 0.55 | — | 2.43 | 0.78 | — | 1.52 |
| EV/EBITDA | — | 1.33 | — | -1.16 | 0.09 | — | -1.1 |
| EV/Sales | — | — | — | — | -0.61 | — | 2.12 |
| Earnings yield | — | — | — | — | — | — | -31.4% |
| FCF yield | — | -59.7% | — | -40.3% | -324.9% | — | -25% |
| PEG | — | — | — | — | — | — | -0.19 |
| Metric | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| Gross margin | — | — | — | — | 93.6% | 93% | 91.1% |
| Operating margin | — | — | — | — | -696.8% | -104% | -320.8% |
| Net margin | — | — | — | — | -669.4% | -98.2% | -183.9% |
| ROE | — | -40.6% | -67.8% | -111.9% | -251.6% | -21.7% | -95.9% |
| ROA | — | -36.6% | -63% | -86.7% | -131.2% | -19% | -45.7% |
| Return on tangible assets | — | -36.6% | -63% | -86.7% | -131.2% | -19% | -49% |
| Metric | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| Current ratio | — | 9.94 | 15.1 | 4.47 | 1.62 | 7.24 | 5.87 |
| Quick ratio | — | 9.94 | 15.1 | 4.47 | 1.62 | 7.24 | 5.86 |
| Debt / equity | — | 0 | 0.01 | 0.01 | 0.02 | 0.01 | 0.05 |
| Debt / assets | — | 0 | 0.01 | 0.01 | 0.01 | 0.01 | 0.04 |
| Net debt / EBITDA | — | 2.79 | 1.81 | 0.99 | 0.39 | 4.19 | 1.37 |
| Metric | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| Revenue per share | — | 0 | 0 | 0 | 0.21 | 0.31 | 0.22 |
| EPS (basic) | — | -5.32 | -2.23 | -1.81 | -1.43 | -0.3 | -0.3 |
| EPS (diluted) | — | -5.32 | -2.23 | -1.81 | -1.43 | -0.3 | -0.31 |
| Book value per share | — | 13.1 | 3.29 | 1.62 | 0.57 | 1.4 | 0.61 |
| FCF per share | — | -4.34 | -2.05 | -1.59 | -1.44 | -0.34 | -0.34 |
| Cash per share | — | 13.9 | 3.44 | 1.83 | 0.58 | 1.32 | 0.54 |
| Capex per share | — | 0 | 0.02 | 0.01 | 0 | — | — |
| Metric | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| Capex / revenue | — | — | — | — | 0.55% | — | — |
| Capex / operating cash flow | — | -0.04% | -0.77% | -0.36% | -0.08% | — | — |
| Payout ratio | — | — | — | — | — | — | 0% |
| $0 |
| — |
| Q4 25 |
|---|
| Q1 26 |
|---|
| Q2 26 |
|---|
| Revenue | $0 | $0 | $0 | $2.3M | $9.3M | $13.8M | $11.3M | $11.8M | $13.1M | $17.2M | $13.7M | $14.3M |
| YoY change | 0% | 0% | 0% | +InfinityT% | +InfinityT% | +InfinityT% | +InfinityT% | +420.6% | +41.2% | +24.5% | +21.6% | +21.2% |
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 | 115M | 591.4M | 372M | 200.6M | 69.3M | 226.7M |
| Receivables | — | — | — | — | 10.9M | 13.9M |
| Inventory | — | — | — | — | — | 263K |
| Total current assets | 117.4M | 616.7M | 376.9M | 224.9M | 100.7M | 247.5M |
| Property, plant & equipment | — | 83K | 6.1M | 4.1M | 2.9M | 3.8M |
| Goodwill & intangibles | — | — | — | — | — | — |
| Total assets | 117.4M | 620.1M | 383.2M | 229.2M | 129.5M | 276.9M |
| Accounts payable | 8.2M | 5.8M | 1.5M | 8M | 10.4M | 13.7M |
| Short-term debt | — | — | 1.6M | 1.4M | 1.3M | 1.3M |
| Total current liabilities | 13.1M | 62.1M | 25M | 50.3M | 62M | 34.2M |
| Long-term debt | — | 0 | 2.2M | 722K | 0 | 1.2M |
| Total liabilities | 182.6M | 62.1M | 27.2M | 51.7M | 62M | 35.3M |
| Shareholders' equity | -65.2M | 558M | 356M | 177.5M | 67.5M | 241.5M |
| Total debt | — | 0 | 3.7M | 2.2M | 1.3M | 2.5M |
| Net debt | — | -542.2M | -88.4M | -198.5M | -68M | -224.2M |
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 | 264.9M | 200.6M | 189.4M | 147.9M | 106.9M | 69.3M | 48.1M | 34.9M | 85M | 226.7M | 184.2M | 160.1M |
| Receivables | — | — | — | 2.9M | 8.2M | 10.9M | 8.6M | 8.7M | 9.9M | 13.9M | 11.6M | 11.2M |
| Inventory | — | — | 109K | 5.3M | 27.1M | — | 442K | 434K | 429K | 263K | 262K | 310K |
| Total current assets | 270.1M | 224.9M | 209.9M | 173M | 151.1M | 100.7M | 75.8M | 59.3M | 109.8M | 247.5M | 204.9M | 182.1M |
| Property, plant & equipment | 4.6M | 4.1M | 3.7M | 2.6M | 3.4M | 2.9M | 2.5M | 4.4M | 4M | 3.8M | 10.2M | 10.3M |
| Goodwill & intangibles | — | — | — | — | — | — | — | — | — | — | — | — |
| Total assets | 274.9M | 229.2M | 215.5M | 177.3M | 161.9M | 129.5M | 103.7M | 89.1M | 139.2M | 276.9M | 241.7M | 218.9M |
| Accounts payable | 9.2M | 8M | 1.2M | 7.5M | 17.7M | 10.4M | 8.7M | 18.1M | 18.1M | 13.7M | 2M | 9.5M |
| Short-term debt | 1.6M | 1.4M | 1.1M | 681K | 1.4M | 1.3M | 894K | 1.1M | 1.1M | 1.3M | 1.6M | 1.6M |
| Total current liabilities | 26.8M | 50.3M | 36.3M | 36.7M | 78.5M | 62M | 49.6M | 44.5M | 44.5M | 34.2M | 31.7M | 31M |
| Long-term debt | 927K | 722K | 625K | 0 | 219K | 0 | — | 1.9M | 1.6M | 1.2M | 7M | 6.8M |
| Total liabilities | 28.4M | 51.7M | 37M | 36.7M | 78.8M | 62M | 49.6M | 46.3M | 46.1M | 35.3M | 38.7M | 37.8M |
| Shareholders' equity | 246.5M | 177.5M | 178.5M | 140.6M | 83.2M | 67.5M | 54.1M | 42.8M | 93.1M | 241.5M | 203.1M | 181.1M |
| Total debt | 2.6M | 2.2M | 1.8M | 681K | 1.6M | 1.3M | 894K | 3M | 2.7M | 2.5M | 8.6M | 8.4M |
| Net debt | -179.3M | -198.5M | -187.6M | -147.2M | -105.2M | -68M | -47.2M | -31.9M | -82.3M | -224.2M | -175.5M | -151.7M |
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 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Net income | -226.8M | -241.3M | -198.6M | -169.9M | -52.5M |
| Depreciation & amortization | 1K | 462K | 2M | 3.1M | 2.1M |
| Stock-based compensation | 17.8M | 21.6M | 18.7M | 19.8M | 11.6M |
| Change in working capital | -5.7M | -1.6M | 5.6M | -35.6M | -1.8M |
| Operating cash flow | -214.6M | -220.8M | -172.3M | -182.6M | -58.1M |
| Capital expenditure | -84K | -1.7M | -615K | -140K | — |
| Investing cash flow | -50.7M | -230.7M | 280.7M | -140K | — |
| Dividends paid | — | — | — | — | — |
| Share repurchases | 0 | -4K | -1K | 0 | -633K |
| Financing cash flow | 662.7M | -4K | -150K | 38.7M | 215M |
| Net change in cash | 397.3M | -451.5M | 108.2M | -144.1M | 156.8M |
| Free cash flow | -184.8M | -221.7M | -173.8M | -170.6M | -58.3M |
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 | 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 | -39.4M | -73.7M | -43.5M | -47.2M | -60.7M | -18.4M | -16.3M | -14.7M | -10.5M | -11.1M | -41.4M | -44.4M |
| Depreciation & amortization | 508K | 516K | 524K | 514K | 559K | 1.5M | 738K | 503K | 431K | 435K | 513K | 639K |
| Stock-based compensation | 4.3M | 4.3M | 5.4M | 8.5M | 2.9M | 3.1M | 2.8M | 3.2M | 3.1M | 2.6M | 2.7M | 2.9M |
| Change in working capital | 5.5M | -1.6M | -9.7M | 409K | -21.8M | -4.5M | 257K | 8.7M | -1.8M | -8.9M | -10.6M | 7.6M |
| Operating cash flow | -29.2M | -70.4M | -47.3M | -37.8M | -79.1M | -18.4M | -12.5M | -13.3M | -8.3M | -15.5M | -41.7M | -43M |
| Capital expenditure | 0 | 0 | -140K | 0 | -5K | 5K | -144K | — | — | — | — | — |
| Investing cash flow | 95.1M | 77.9M | -140K | 0 | -5K | 5K | -144K | — | — | — | — | — |
| Dividends paid | — | — | — | — | — | — | — | — | — | — | — | — |
| Share repurchases | 0 | 0 | — | — | 0 | 0 | — | — | — | — | -231K | 0 |
| Financing cash flow | 0 | 0 | 39M | -171K | -63K | -90K | -71K | -15K | 58.3M | 157.4M | -307K | -143K |
| Net change in cash | 65.9M | 7.5M | -8.4M | -38M | -79.2M | -18.5M | -12.7M | -13.3M | 50M | 142M | -42M | -43.1M |
| Free cash flow | -35.4M | -59.2M | -50.4M | -41.6M | -41.1M | -37.6M | -21.3M | -13.3M | -8.3M | -15.5M | -42.4M | -43.5M |