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 | -$0.55 | -$0.23 | +58.2% | — | $0 | — |
| Q1 26 | -$0.54 | -$0.38 | +29.6% | — | $0 | — |
| Q4 25 | -$0.82 | -$0.54 | +34.1% | — | $0 | — |
| Q3 25 | -$1.21 | -$1.13 | +6.6% | — | $0 | — |
| Q2 25 | -$1.33 | -$1.74 | -30.8% | — | $0 | — |
| Q1 25 | -$1.48 | -$1.41 | +4.7% | — | $0 | — |
| Q4 24 | -$1.23 | -$1.62 | -31.7% | — | $0 | — |
| Q3 24 | -$1.08 | -$1.24 | -14.8% | — | $0 | — |
| Q2 24 | -$1.12 | -$0.97 | +13.4% | — | $0 | — |
| Q1 24 | -$1.18 | -$1.03 | +12.7% | — | $0 | — |
| Q4 23 | -$1.57 | -$1.5 | +4.5% | — | $0 | — |
| Q3 23 | -$1.5 | -$1.63 | -8.7% | — | $0 | — |
| Q2 23 | -$0.15 | -$0.15 | 0.0% | — | $0 | — |
| Q1 23 | -$0.16 | -$0.16 | 0.0% | — | $0 | — |
| Q4 22 | -$0.36 | -$0.36 | 0.0% | — | $0 | — |
| Q3 22 | -$0.34 | -$0.32 | +5.9% | — | $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 % |
|---|---|---|---|---|---|---|
| FY25 | — | -$3.95 | — | — | $0 | — |
| FY24 | — | -$4.89 | — | — | $0 | — |
| FY23 | — | -$6.18 | — | — | $0 | — |
| FY22 | — | -$10.3 | — | — | $0 | — |
| FY21 | — | -$26.9 | — |
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 |
|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 | $0 | $0 |
| YoY change | — | 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 | Q3 23 | Q4 23 | Q1 24 | 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 |
|---|---|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | 0 | 0 | 0 |
| Cost of revenue | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — |
| Research & development | 15.9M | 25.4M | 34.6M | 51.8M | 55.8M | 63.1M |
| Selling, general & administrative | 4.8M | 11.4M | 16.6M | 17.1M | 20.4M | 20.8M |
| Operating expenses | 20.7M | 36.8M | 51.2M | 68.9M | 76.2M | 83.9M |
| Operating income | -20.7M | -36.8M | -51.2M | -68.9M | -76.2M | -83.9M |
| Operating margin | — | — | — | — | — | — |
| Non-operating income, net | -11M | 6.2M | 12.8M | -803K | -88K | 6.3M |
| Pretax income | -31.7M | -30.6M | -37.7M | -64.5M | -71.3M | -75.8M |
| Income tax | — | — | — | — | — | — |
| Net income | -31.7M | -30.6M | -37.7M | -64.5M | -71.3M | -75.8M |
| Net margin | — | — | — | — | — | — |
| EBITDA | -9.8M | -42.7M | -63.1M | -67.2M | -74.9M | -91.4M |
| EPS | -8.37 | -26.9 | -10.3 | -6.18 | -4.89 | -3.95 |
| Diluted EPS | -8.37 | -26.9 | -10.3 | -6.18 | -4.89 | -3.95 |
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 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cost of revenue | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — | — | — | — | — | — |
| Research & development | 14.8M | 13.8M | 10.3M | 11.3M | 14.5M | 19.8M | 16.2M | 21.2M | 14.4M | 11.4M | 5.8M | 5.1M |
| Selling, general & administrative | 4.5M | 3.9M | 4.8M | 4.7M | 5.4M | 5.5M | 5.6M | 5.9M | 4.8M | 4.5M | 5.1M | 4.1M |
| Operating expenses | 19.4M | 17.7M | 15.1M | 16M | 19.9M | 25.3M | 21.8M | 27.1M | 19.2M | 15.8M | 11M | 9.2M |
| Operating income | -19.4M | -17.7M | -15.1M | -16M | -19.9M | -25.3M | -21.8M | -27.1M | -19.2M | -15.8M | -11M | -9.2M |
| Operating margin | — | — | — | — | — | — | — | — | — | — | — | — |
| Non-operating income, net | 385K | -90K | -42K | -40K | -32K | 26K | -63K | -84K | 88K | 6.4M | 9.6M | 6.4M |
| Pretax income | -17.5M | -16.6M | -13.7M | -14.6M | -18.6M | -24.3M | -21.2M | -26.7M | -18.7M | -9.1M | -1.2M | -2.8M |
| Income tax | — | — | — | — | — | — | — | — | — | — | — | — |
| Net income | -17.5M | -16.6M | -13.7M | -14.6M | -18.6M | -24.3M | -21.2M | -26.7M | -18.7M | -9.1M | -1.2M | -2.8M |
| Net margin | — | — | — | — | — | — | — | — | — | — | — | — |
| EBITDA | -19.4M | -17.5M | -14.8M | -15.7M | -19.4M | -25M | -21.5M | -26.8M | -21M | -22M | -20.6M | -13.2M |
| EPS | -1.6 | -1.5 | -1.03 | -0.97 | -1.24 | -1.62 | -1.41 | -1.74 | -1.13 | -0.32 | -0.04 | -0.1 |
| Diluted EPS | -1.6 | -1.5 | -1.03 | -0.97 | -1.24 | -1.62 | -1.41 | -1.74 | -1.13 | -0.32 | -0.04 | -0.1 |
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 | 378.5M | — | — | — | — | — | 20.8M |
| Enterprise value | 360.3M | — | — | — | — | — | -6.6M |
| Shares outstanding | 3.8M | 1.1M | 3.6M | 10.4M | 14.6M | 19.2M | 19.2M |
| Metric | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| P/E | — | — | — | — | — | — | -0.16 |
| P/B | -10.8 | — | — | — | — | — | 12.5 |
| EV/EBITDA | -36.7 | — | — | — | — | — | 0.07 |
| Earnings yield | — | — | — | — | — | — | -619.4% |
| FCF yield | -4.83% | — | — | — | — | — | -363.9% |
| PEG | — | — | — | — | — | — | 0 |
| Metric | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| Operating margin | — | — | — | — | — | — | 0% |
| Net margin | — | — | — | — | — | — | 0% |
| ROE | 90.1% | -44.1% | -104.7% | -82.2% | -115.6% | -1.8K% | -1.8K% |
| ROA | -135.6% | -32.7% | -77.9% | -67.9% | -89.2% | -211.9% | -211.9% |
| Return on tangible assets | -135.6% | -32.7% | -77.9% | -67.9% | -89.2% | -211.9% | -269.2% |
| Metric | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| Current ratio | 5.16 | 11 | 5.91 | 7.19 | 4.98 | 2.62 | 1.47 |
| Quick ratio | 5.16 | 11 | 5.91 | 7.19 | 4.98 | 2.62 | 1.47 |
| Debt / equity | -0.05 | 0.04 | 0.1 | 0.04 | 0.03 | 0.3 | 0 |
| Debt / assets | 0.07 | 0.03 | 0.08 | 0.03 | 0.02 | 0.03 | 0.02 |
| Net debt / EBITDA | 1.86 | 1.91 | 0.55 | 1.25 | 0.93 | 0.3 | 0.09 |
| Metric | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| Revenue per share | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (basic) | -8.37 | -26.9 | -10.3 | -6.18 | -4.89 | -3.95 | -3.95 |
| EPS (diluted) | -8.37 | -26.9 | -10.3 | -6.18 | -4.89 | -3.95 | -0.96 |
| Book value per share | -9.29 | 61 | 9.87 | 7.51 | 4.23 | 0.22 | 0.05 |
| FCF per share | -4.83 | -31.7 | -12.7 | -5.01 | -4.33 | -4.03 | -2.1 |
| Cash per share | 5.25 | 74.3 | 10.5 | 8.32 | 4.91 | 1.5 | 0.25 |
| Capex per share | 0 | 2.13 | 0.16 | 0.03 | 0.04 | — | — |
| Metric | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| Capex / operating cash flow | 0% | -6.85% | -1.45% | -0.47% | -0.84% | — | — |
| Payout ratio | — | — | — | — | — | — | 0% |
| — |
| $0 |
| — |
| FY20 | — | -$8.37 | — | — | $0 | — |
| Q2 25 |
|---|
| Q3 25 |
|---|
| Q4 25 |
|---|
| Q1 26 |
|---|
| Q2 26 |
|---|
| 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 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|
| Cash & short-term investments | 19.8M | 84.7M | 38.3M | 86.9M | 71.6M | 28.7M |
| Receivables | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — |
| Total current assets | 20.7M | 87.8M | 41.7M | 88.9M | 75.8M | 34.6M |
| Property, plant & equipment | 2M | 4.8M | 5.5M | 4.2M | 2.9M | 604K |
| Goodwill & intangibles | — | — | — | — | — | — |
| Total assets | 23.4M | 93.7M | 48.4M | 94.9M | 79.9M | 35.8M |
| Accounts payable | 1.4M | 3.9M | 1.8M | 4.1M | 4M | 6.2M |
| Short-term debt | — | 505K | 865K | 972K | 1.1M | 1.2M |
| Total current liabilities | 4M | 8M | 7.1M | 12.4M | 15.2M | 13.2M |
| Long-term debt | 1.6M | 2.4M | 2.8M | 1.8M | 724K | 0 |
| Total liabilities | 58.5M | 24.1M | 12.4M | 16.5M | 18.2M | 31.6M |
| Shareholders' equity | -35.1M | 69.5M | 36M | 78.4M | 61.7M | 4.2M |
| Total debt | 1.6M | 2.9M | 3.7M | 2.8M | 1.8M | 1.2M |
| Net debt | -18.2M | -81.8M | -34.6M | -84.1M | -69.8M | -27.5M |
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 | 103.9M | 86.9M | 118.5M | 106.8M | 92.5M | 71.6M | 48.8M | 39.5M | 50.9M | 28.7M | 14.1M | 7.3M |
| Receivables | — | — | — | — | — | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current assets | 105.2M | 88.9M | 120.3M | 108.7M | 94.8M | 75.8M | 53.2M | 43M | 54.6M | 34.6M | 20.3M | 11.6M |
| Property, plant & equipment | 4.4M | 4.2M | 3.8M | 3.7M | 3.2M | 2.9M | 3.5M | 2.9M | 2.3M | 604K | 398K | 188K |
| Goodwill & intangibles | — | — | — | — | — | — | — | — | — | — | — | — |
| Total assets | 110.4M | 94.9M | 126M | 113.9M | 99.4M | 79.9M | 57.6M | 46.5M | 57.5M | 35.8M | 21.2M | 11.8M |
| Accounts payable | 3.3M | 4.1M | 2.4M | 3M | 3.1M | 4M | 3M | 8M | 9.2M | 6.2M | 2.4M | 2.8M |
| Short-term debt | 945K | 972K | 1M | 1M | 1.1M | 1.1M | 1.8M | 2M | 1.7M | 1.2M | 757K | 270K |
| Total current liabilities | 11.9M | 12.4M | 8.9M | 10.1M | 12.5M | 15.2M | 12.3M | 20.5M | 21M | 13.2M | 9M | 7.8M |
| Long-term debt | 2.1M | 1.8M | 1.6M | 1.3M | 1M | 724K | 755K | 201K | 0 | 0 | — | — |
| Total liabilities | 16.3M | 16.5M | 12.7M | 13.6M | 15.7M | 18.2M | 15.4M | 23M | 45.9M | 31.6M | 17.8M | 10.4M |
| Shareholders' equity | 94.1M | 78.4M | 113.2M | 100.3M | 83.7M | 61.7M | 42.2M | 23.5M | 11.6M | 4.2M | 3.4M | 1.4M |
| Total debt | 3M | 2.8M | 2.6M | 2.3M | 2.1M | 1.8M | 2.6M | 2.2M | 1.7M | 1.2M | 757K | 270K |
| Net debt | -100.9M | -84.1M | -115.9M | -104.5M | -90.4M | -69.8M | -46.2M | -37.4M | -49.2M | -27.5M | -13.4M | -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 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|
| Net income | -31.7M | -30.6M | -37.7M | -64.5M | -71.3M | -75.8M |
| Depreciation & amortization | 0 | 377K | 975K | 1.1M | 1.4M | 1.1M |
| Stock-based compensation | 1.2M | 1M | 4.1M | 5.2M | 6.6M | 6.7M |
| Change in working capital | 318K | 2.9M | -1.8M | 1.5M | -572K | 1.2M |
| Operating cash flow | -30.1M | -35.4M | -39.8M | -56.2M | -63.4M | -77.2M |
| Capital expenditure | 0 | -2.4M | -576K | -267K | -532K | — |
| Investing cash flow | 0 | -2.4M | -576K | -267K | -532K | — |
| Dividends paid | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — |
| Financing cash flow | 11.2M | 100.7M | 0 | 100.5M | 47.2M | 34M |
| Net change in cash | -18.9M | 62.9M | -40.4M | 44M | -16.7M | -43.2M |
| Free cash flow | -18.3M | -36.1M | -46.4M | -52.3M | -63.2M | -77.2M |
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 | -17.5M | -16.6M | -13.7M | -14.6M | -18.6M | -24.3M | -21.2M | -26.7M | -18.7M | -9.1M | -1.2M | -2.8M |
| Depreciation & amortization | 276K | 283K | 288K | 299K | 541K | 245K | 279K | 258K | 229K | 290K | 21K | 21K |
| Stock-based compensation | 1.4M | 1.2M | 1.2M | 1.5M | 2M | 2M | 1.8M | 1.8M | 1.4M | 1.7M | 423K | 764K |
| Change in working capital | 1.5M | -299K | -2.1M | 480K | 125K | 894K | -1.1M | 5M | 722K | -3.4M | -4.2M | -114K |
| Operating cash flow | -14.6M | -15.4M | -14.2M | -12.2M | -15.8M | -21.1M | -20M | -15.5M | -17M | -21.9M | -14.5M | -6.9M |
| Capital expenditure | 0 | -230K | -25K | -157K | -274K | -76K | 4K | — | — | — | — | — |
| Investing cash flow | 0 | -230K | -25K | -157K | -274K | -76K | 4K | — | — | — | — | — |
| Dividends paid | — | — | — | — | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — | — | — | — | — |
| Financing cash flow | 0 | -299K | 47.2M | 0 | 0 | 0 | 0 | 5.9M | 514K | 27.5M | — | — |
| Net change in cash | -14.6M | -15.9M | 33M | -12.3M | -16.1M | -21.2M | -20M | -9.5M | -16.5M | 5.6M | -14.5M | -6.9M |
| Free cash flow | -12M | -16.7M | -15.8M | -11.8M | -14.3M | -21.2M | -22.8M | -15.5M | -17M | -21.9M | -14.5M | -6.9M |