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 % |
|---|---|---|---|---|---|---|
| Q3 26 | -$0.96 | -$1.05 | -9.4% | — | — | — |
| Q2 26 | -$1.01 | -$0.94 | +6.9% | — | — | — |
| Q1 26 | -$1.05 | -$1.04 | +1.0% | — | $0 | — |
| Q3 25 | -$1.04 | -$1.16 | -11.5% | — | $0 | — |
| Q2 25 | -$1.05 | -$1.03 | +1.9% | — | $0 | — |
| Q1 25 | -$0.87 | -$1.09 | -25.3% | — | $0 | — |
| Q4 24 | -$0.86 | -$0.84 | +2.3% | — | $0 | — |
| Q3 24 | -$0.9 | -$0.84 | +6.7% | — | $0 | — |
| Q2 24 | -$0.85 | -$0.86 | -1.2% | — | $0 | — |
| Q1 24 | -$1.06 | -$0.82 | +22.6% | — | $0 | — |
| Q4 23 | -$0.75 | -$1.13 | -50.7% | — | $0 | — |
| Q3 23 | -$1.21 | -$0.95 | +21.5% | — | $0 | — |
| Q2 23 | -$1.14 | -$1.53 | -34.2% | — | $0 | — |
| Q1 23 | -$1.33 | -$1.35 | -1.5% | — | $0 | — |
| Q4 22 | -$1.52 | -$1.35 | +11.2% | — | $0 | — |
| Q3 22 | -$1.77 | -$1.47 | +16.9% | — | $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 | — | -$4.32 | — | — | $0 | — |
| FY24 | — | -$3.35 | — | — | $0 | — |
| FY23 | — | -$4.97 | — | — | $0 | — |
| FY22 | — | -$6.39 | — | — | $0 | — |
Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.
| Period | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| YoY change | — | 0% | 0% | 0% | 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.
Revenue, gross profit, operating income, and net income per period.
Click a row to chart it; unreported figures show a dash.
| Period | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cost of revenue | — | — | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — | — | — | — |
| Research & development | 14.1M | 22M | 18.8M | 37.5M | 107.4M | 217.3M | 267.6M | 206.3M | 126.1M | 182.4M |
| Selling, general & administrative | 3.1M | 3.5M | 7.6M | 11.7M | 28.6M | 49.7M | 73.8M | 71M | 60.8M | 52M |
| Operating expenses | 17.2M | 25.5M | 26.4M | 49.2M | 136M | 267.1M | 341.4M | 277.3M | 186.8M | 234.4M |
| Operating income | -17.2M | -25.5M | -26.4M | -49.2M | -136M | -267.1M | -341.4M | -277.3M | -186.8M | -234.4M |
| Operating margin | — | — | — | — | — | — | — | — | — | — |
| Non-operating income, net | 25K | -1.3M | -10.2M | 265K | -30K | -190K | 503K | 110K | -506K | -96K |
| Pretax income | -17.1M | -27.9M | -41.4M | -47.4M | -133.1M | -267M | -333.8M | -260.5M | -176.2M | -230M |
| Income tax | — | — | — | — | — | — | — | — | — | — |
| Net income | -17.1M | -27.9M | -41.4M | -47.4M | -133.1M | -267M | -333.8M | -260.5M | -176.2M | -230M |
| Net margin | — | — | — | — | — | — | — | — | — | — |
| EBITDA | -16.9M | -26.2M | -30M | -46.4M | -128.9M | -258.2M | -322.8M | -234.5M | -149.5M | -203.6M |
| EPS | -0.65 | -1.05 | -2.77 | -1.25 | -2.91 | -5.16 | -6.39 | -4.97 | -3.35 | -4.32 |
| Diluted EPS | -0.65 | -1.05 | -2.77 | -1.25 | -2.91 | -5.16 | -6.39 | -4.97 | -3.35 | -4.32 |
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 | 36.2M | 46.6M | 29.9M | 32.5M | 31.9M | 31.8M | 43.6M | 42.8M | 50.5M | 45.5M | 48.5M | 56.1M |
| Selling, general & administrative | 18.3M | 16.7M | 16.1M | 15.5M | 14.8M | 14.4M | 15.4M | 12.8M | 11.9M | 12M | 11.2M | 10.8M |
| Operating expenses | 54.5M | 63.4M | 46.1M | 48M | 46.6M | 46.2M | 59.1M | 55.5M | 62.4M | 57.5M | 59.8M | 66.8M |
| Operating income | -54.5M | -63.4M | -46.1M | -48M | -46.6M | -46.2M | -59.1M | -55.5M | -62.4M | -57.5M | -59.8M | -66.8M |
| Operating margin | — | — | — | — | — | — | — | — | — | — | — | — |
| Non-operating income, net | -38K | -39K | -337K | -88K | -25K | -56K | 10K | -44K | -22K | -40K | -22K | -60K |
| Pretax income | -50M | -59.5M | -43M | -45.1M | -43.9M | -44.1M | -57.5M | -54.3M | -61.5M | -56.7M | -58.2M | -65.6M |
| Income tax | — | — | — | — | — | — | — | — | — | — | — | — |
| Net income | -50M | -59.5M | -43M | -45.1M | -43.9M | -44.1M | -57.5M | -54.3M | -61.5M | -56.7M | -58.2M | -65.6M |
| Net margin | — | — | — | — | — | — | — | — | — | — | — | — |
| EBITDA | -43M | -52.9M | -36.4M | -38.4M | -37.2M | -37.4M | -52.3M | -49M | -55.8M | -46.5M | -53.4M | -60.6M |
| EPS | -0.95 | — | -0.82 | -0.86 | -0.84 | -0.84 | -1.09 | -1.03 | -1.16 | -1.04 | -0.94 | -1.05 |
| Diluted EPS | -0.95 | — | -0.82 | -0.86 | -0.84 | -0.84 | -1.09 | -1.03 | -1.16 | -1.04 | -0.94 | -1.05 |
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 | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market cap | — | — | — | — | — | — | — | — | — | — | 5.7B |
| Enterprise value | — | — | — | — | — | — | — | — | — | — | 5.6B |
| Shares outstanding | 26.6M | 26.6M | 15M | 37.9M | 45.7M | 51.8M | 52.2M | 52.4M | 52.6M | 53.2M | 53.2M |
| Metric | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E | — | — | — | — | — | — | — | — | — | — | -20.8 |
| P/B | — | — | — | — | — | — | — | — | — | — | 92.3 |
| EV/EBITDA | — | — | — | — | — | — | — | — | — | — | -24.1 |
| Earnings yield | — | — | — | — | — | — | — | — | — | — | -4.8% |
| FCF yield | — | — | — | — | — | — | — | — | — | — | -1.03% |
| PEG | — | — | — | — | — | — | — | — | — | — | -10.7 |
| Metric | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating margin | — | — | — | — | — | — | — | — | — | — | 0% |
| Net margin | — | — | — | — | — | — | — | — | — | — | 0% |
| ROE | 41.7% | 40.6% | -47.7% | -13.7% | -15.5% | -40.3% | -76.5% | -98% | -117.2% | -146.1% | -368.4% |
| ROA | -141.4% | -861.2% | -45% | -13.2% | -12.5% | -29.5% | -50.1% | -54.3% | -52.5% | -65.4% | -60.4% |
| Return on tangible assets | -141.4% | -861.2% | -45% | -13.2% | -12.5% | -29.5% | -50.1% | -54.3% | -52.5% | -65.4% | -94.2% |
| Metric | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current ratio | 4.06 | 0.17 | 18.7 | 29 | 30.9 | 11.4 | 9.26 | 6.93 | 6.72 | 4.72 | 2.49 |
| Quick ratio | 4.06 | 0.17 | 18.7 | 29 | 30.9 | 11.4 | 9.26 | 6.93 | 6.72 | 4.72 | 2.49 |
| Debt / equity | -0 | -0.15 | 0 | 0.01 | 0.09 | 0.12 | 0.2 | 0.31 | 0.47 | 0.38 | 0.86 |
| Debt / assets | 0.02 | 3.09 | 0 | 0.01 | 0.07 | 0.09 | 0.13 | 0.17 | 0.21 | 0.17 | 0.21 |
| Net debt / EBITDA | 0.56 | -0.33 | 2.95 | 7.2 | 6.92 | 2.52 | 1.21 | 0.87 | 0.65 | 0.74 | 0.34 |
| Interest coverage | -2.9K | -22.6 | -6.51 | -5.9K | -5.3K | -5.7K | -18.5K | -20K | — | — | — |
| Metric | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue per share | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (basic) | -0.65 | -1.05 | -2.77 | -1.25 | -2.91 | -5.16 | -6.39 | -4.97 | -3.35 | -4.32 | -4.32 |
| EPS (diluted) | -0.65 | -1.05 | -2.77 | -1.25 | -2.91 | -5.16 | -6.39 | -4.97 | -3.35 | -4.32 | -4.19 |
| Book value per share | -1.55 | -2.59 | 5.8 | 9.12 | 18.8 | 12.8 | 8.35 | 5.07 | 2.86 | 2.96 | 0.97 |
| FCF per share | -0.63 | -0.67 | -1.98 | -1.05 | -1.98 | -4.74 | -4.86 | -3.73 | -2.24 | -2.57 | -2.55 |
| Cash per share | 0.36 | 0.05 | 5.89 | 8.89 | 21.2 | 14.1 | 9.17 | 5.45 | 3.2 | 3.94 | 2.01 |
| Capex per share | 0.03 | 0.01 | 0.04 | 0.01 | 0.15 | 1.22 | 0.91 | 0.79 | 0.01 | — | — |
| Metric | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Capex / operating cash flow | -4.66% | -0.89% | -1.66% | -0.91% | -7.24% | -32.4% | -23.6% | -27.8% | -0.36% | — | — |
| Payout ratio | — | — | — | — | — | — | — | — | — | — | 0% |
| FY21 | — | -$5.16 | — | — | $0 | — |
| FY20 | — | -$2.91 | — | — | $0 | — |
| FY19 | — | -$1.25 | — | — | $0 | — |
| FY18 | — | -$2.77 | — | — | $0 | — |
| FY17 | — | -$1.05 | — | — | $0 | — |
| FY16 | — | -$0.65 | — | — | $0 | — |
| 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 |
| 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 | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & short-term investments | 9.6M | 1.4M | 88.3M | 336.5M | 969M | 731.5M | 478.9M | 285.5M | 168.1M | 209.9M |
| Receivables | — | — | — | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — | — | — | — |
| Total current assets | 10.2M | 1.6M | 90.4M | 339.2M | 972M | 734.8M | 486M | 289.3M | 171.9M | 214.8M |
| Property, plant & equipment | 1.8M | 1.5M | 1.1M | 2.8M | 78.8M | 108.1M | 115.8M | 175M | 148.7M | 121.9M |
| Goodwill & intangibles | — | — | — | — | — | — | — | — | — | — |
| Total assets | 12.1M | 3.2M | 92.2M | 358.9M | 1.1B | 904.2M | 666.6M | 479.4M | 335.6M | 351.5M |
| Accounts payable | 1.1M | 3.4M | 1.1M | 2.6M | 8.6M | 12.4M | 9.1M | 13.6M | 3.9M | 12.9M |
| Short-term debt | 82K | 108K | — | 434K | 2.4M | 3.9M | 9.9M | 9.8M | 10.6M | 12.1M |
| Total current liabilities | 2.5M | 9.2M | 4.8M | 11.7M | 31.4M | 64.7M | 52.5M | 41.7M | 25.6M | 45.5M |
| Long-term debt | 103K | 9.9M | 0 | 1.5M | 75M | 76.1M | 77.8M | 71.9M | 59.7M | 47.1M |
| Total liabilities | 53.2M | 72M | 5.4M | 13.5M | 206.6M | 240.9M | 230.5M | 213.6M | 185.3M | 194.2M |
| Shareholders' equity | -41.1M | -68.7M | 86.8M | 345.4M | 860.8M | 663.3M | 436.2M | 265.8M | 150.3M | 157.4M |
| Total debt | 185K | 10M | 0 | 1.9M | 77.4M | 80M | 87.7M | 81.6M | 70.3M | 59.2M |
| Net debt | -9.4M | 8.6M | -88.3M | -209.9M | -867M | -651.5M | -102.7M | -203.9M | -97.7M | -150.7M |
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 | 345.7M | 285.5M | 245.9M | 219.2M | 197.9M | 168.1M | 138.9M | 104.2M | 72M | 209.9M | 169.5M | 125.9M |
| Receivables | — | — | — | — | — | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current assets | 350.9M | 289.3M | 251.5M | 224.6M | 202.5M | 171.9M | 142.7M | 107.9M | 75.7M | 214.8M | 175.3M | 131.4M |
| Property, plant & equipment | 181.7M | 175M | 168.4M | 161.9M | 155.3M | 148.7M | 140.4M | 134M | 127.5M | 121.9M | 115.9M | 110.6M |
| Goodwill & intangibles | — | — | — | — | — | — | — | — | — | — | — | — |
| Total assets | 547.7M | 479.4M | 434.8M | 401.6M | 372.7M | 335.6M | 297.9M | 256.7M | 218.1M | 351.5M | 306M | 256.8M |
| Accounts payable | 38.6M | 13.6M | 2.5M | 1.9M | 3.3M | 3.9M | 6.5M | 5.1M | 10.4M | 12.9M | 11.3M | 12.6M |
| Short-term debt | 9M | 9.8M | 9.6M | 9.9M | 10.2M | 10.6M | 10.9M | 11.3M | 11.8M | 12.1M | 11.7M | 9.8M |
| Total current liabilities | 70.8M | 41.7M | 24.9M | 21.2M | 24.1M | 25.6M | 30.9M | 31M | 42.4M | 45.5M | 49.6M | 52.8M |
| Long-term debt | 74.5M | 71.9M | 68.7M | 65.9M | 63.2M | 59.7M | 56.7M | 53.9M | 50.4M | 47.1M | 44.3M | 42.9M |
| Total liabilities | 245.2M | 213.6M | 193.6M | 187.1M | 187.3M | 185.3M | 189.1M | 186.4M | 194.4M | 194.2M | 193.9M | 195.7M |
| Shareholders' equity | 302.4M | 265.8M | 241.2M | 214.5M | 185.4M | 150.3M | 108.8M | 70.3M | 23.7M | 157.4M | 112.1M | 61.1M |
| Total debt | 83.5M | 81.6M | 78.3M | 75.8M | 73.4M | 70.3M | 67.6M | 65.2M | 62.2M | 59.2M | 56M | 52.8M |
| Net debt | -262.2M | -203.9M | -167.6M | -143.5M | -124.4M | -97.7M | -71.2M | -39M | -9.8M | -150.7M | -113.5M | -73.1M |
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 | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net income | -17.1M | -27.9M | -41.4M | -47.4M | -133.1M | -267M | -333.8M | -260.5M | -176.2M | -230M |
| Depreciation & amortization | 257K | 549K | 490K | 911K | 4.2M | 8.7M | 11M | 25.9M | 26.7M | 26.3M |
| Stock-based compensation | 272K | 275K | 2.7M | 6.1M | 30.7M | 61.4M | 106M | 88.6M | 60.2M | 58.9M |
| Change in working capital | 44K | 2.3M | -2.3M | -7.8M | 1.4M | 1.2M | 17M | -2.9M | -21M | -3M |
| Operating cash flow | -16.6M | -23.6M | -35.1M | -48.2M | -96.7M | -195.7M | -200.4M | -148.9M | -109.9M | -136M |
| Capital expenditure | -771K | -209K | -581K | -437K | -7M | -63.3M | -47.4M | -41.4M | -400K | — |
| Investing cash flow | -771K | -209K | -581K | -137M | 104.8M | -38.8M | -336.5M | 249.2M | -755K | 0 |
| Dividends paid | — | — | — | — | — | — | — | — | — | — |
| Share repurchases | — | 0 | 0 | -132K | -487K | 0 | 0 | — | — | — |
| Financing cash flow | -121K | 9.6M | 116.4M | 297.4M | 711.1M | -45K | -49K | -211K | — | 173M |
| Net change in cash | -17.5M | -14.2M | 80.7M | 112.2M | 719.2M | -234.5M | -537M | 100.1M | -110.6M | 37M |
| Free cash flow | -16.8M | -17.9M | -29.6M | -39.6M | -90.4M | -245.6M | -253.8M | -195.6M | -117.7M | -136.5M |
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 | -50M | -59.5M | -43M | -45.1M | -43.9M | -44.1M | -57.5M | -54.3M | -61.5M | -56.7M | -58.2M | -65.6M |
| Depreciation & amortization | 7M | 6.7M | 6.6M | 6.7M | 6.7M | 6.7M | 6.7M | 6.5M | 6.5M | 6.5M | 6.3M | 6.2M |
| Stock-based compensation | 13.9M | 22.8M | 18.4M | 18.4M | 14.8M | 8.6M | 15.9M | 15.6M | 14M | 13.3M | 12.2M | 11.6M |
| Change in working capital | -2.7M | 655K | -14.4M | -3.5M | -622K | -2.4M | -36K | -3.9M | 2.3M | -1.4M | -3.9M | -2.2M |
| Operating cash flow | -31.5M | -29.4M | -32.4M | -23.6M | -23.1M | -31.2M | -34.9M | -34.7M | -32.9M | -39.4M | -40M | -46.2M |
| Capital expenditure | -226K | -27.5M | -22K | -49K | -205K | -124K | -270K | — | — | — | — | — |
| Investing cash flow | -226K | -27.8M | -166K | -260K | -560K | -124K | -270K | — | — | 0 | — | — |
| Dividends paid | — | — | — | — | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — | — | — | — | — |
| Financing cash flow | -12K | -175K | — | — | — | — | — | — | — | — | -303K | 0 |
| Net change in cash | -31.7M | -57.3M | -32.5M | -23.8M | -23.6M | -31.4M | -35.1M | -34.7M | -32.9M | -39.4M | -40.3M | -46.2M |
| Free cash flow | -33M | -59.7M | -39.6M | -26.5M | -21.4M | -30.2M | -29.3M | -34.8M | -32.9M | -39.4M | -41M | -46.6M |