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 | -$1.24 | -$1.45 | -16.9% | — | $0 | — |
| Q1 26 | -$0.92 | -$1.21 | -31.5% | — | $367K | — |
| Q4 25 | -$0.45 | -$0.86 | -91.1% | — | $385K | — |
| Q3 25 | -$0.92 | -$0.18 | +80.4% | — | $14.3M | — |
| Q2 25 | -$1.13 | -$0.76 | +32.7% | — | $18.2M | — |
| Q1 25 | $0.01 | $3.62 | +36100.0% | — | $211.2M | — |
| Q4 24 | -$0.43 | -$1.14 | -165.1% | — | $3M | — |
| Q3 24 | -$1.28 | -$1.41 | -10.2% | — | $388K | — |
| Q2 24 | -$1.25 | -$1.25 | 0.0% | — | $37K | — |
| Q1 24 | -$1.33 | -$1.21 | +9.0% | — | $83K | — |
| Q4 23 | -$1.39 | -$1.34 | +3.6% | — | $143K | — |
| Q3 23 | -$1.35 | -$1.33 | +1.5% | — | $8K | — |
| Q2 23 | -$1.35 | -$1.27 | +5.9% | — | $0 | — |
| Q1 23 | -$1.12 | -$1.26 | -12.5% | — | $0 | — |
| Q4 22 | -$1.1 | -$1.09 | +0.9% | — | $0 | — |
| Q3 22 | -$1.26 | -$0.92 | +27.0% | — | $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 | — | $2.34 | — | — | $244.1M | — |
| FY24 | — | -$5 | — | — | $3.5M | — |
| FY23 | — | -$5.2 | — | — | $151K | — |
| FY22 | — | -$4.15 | — | — | $0 | — |
| FY21 |
Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.
| Period | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $10M | $10M | $0 | $20.1M | $0 | $151K | $3.5M | $244.1M |
| YoY change | — | 0% | -100% | +InfinityT% | -100% | +InfinityT% | +2.3K% | +6.8K% |
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 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 10M | 10M | 0 | 20.1M | 0 | 151K | 3.5M | 244.1M |
| Cost of revenue | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — | — |
| Research & development | 10.1M | 17.4M | 33.9M | 55.1M | 87.3M | 135.3M | 173.6M | 129.6M |
| Selling, general & administrative | 1.6M | 3.2M | 12.8M | 21.3M | 27.5M | 34.8M | 40.8M | 46.8M |
| Operating expenses | 11.3M | 20M | 44.2M | 76.5M | 107.7M | 167.7M | 213.1M | 176.5M |
| Operating income | -1.3M | -10M | -44.2M | -56.4M | -107.7M | -167.5M | -209.6M | 67.6M |
| Operating margin | -13.2% | -100% | — | -280.5% | — | -111K% | -5.9K% | 27.7% |
| Non-operating income, net | 237K | -2.3M | -1.3M | -356K | 3M | 14.5M | 22.5M | 24.3M |
| Pretax income | -1.1M | -12.3M | -45.5M | -56.7M | -104.7M | -153M | -187.1M | 91.9M |
| Income tax | 257K | 0 | -172K | 2M | 0 | 0 | 300K | 4.9M |
| Net income | -1.3M | -12.3M | -45.4M | -58.7M | -104.7M | -153M | -187.4M | 87M |
| Net margin | -13.4% | -123.4% | — | -292.3% | — | -101.3K% | -5.3K% | 35.7% |
| EBITDA | -1.2M | -12.1M | -45.2M | -56.4M | -107.6M | -166.9M | -209.3M | 44.2M |
| EPS | -0.15 | -0.78 | -2.93 | -2.52 | -4.15 | -5.2 | -5 | 2.34 |
| Diluted EPS | -0.15 | -0.78 | -2.93 | -2.52 | -4.15 | -5.2 | -5 | 2.3 |
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 | 8K | 143K | 83K | 37K | 388K | 3M | 211.2M | 18.2M | 14.3M | 385K | 367K | 0 |
| Cost of revenue | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — | — | — | — | — | — |
| Research & development | 34.1M | 37.5M | 38.3M | 40.5M | 49.2M | 45.6M | 48.7M | 43.5M | 19.5M | 17.9M | 16.1M | 22.3M |
| Selling, general & administrative | 9.1M | 9.1M | 10.3M | 10M | 9.8M | 10.7M | 10.5M | 14.5M | 10.1M | 11.7M | 10.1M | 8.6M |
| Operating expenses | 43.3M | 46.6M | 48.6M | 50.5M | 59M | 56.3M | 59.2M | 58M | 29.6M | 29.7M | 26.2M | 30.9M |
| Operating income | -43.3M | -44.1M | -48.5M | -50.4M | -58.7M | -52M | 152M | -39.8M | -15.4M | -29.3M | -25.9M | -30.9M |
| Operating margin | -541K% | -30.8K% | -58.4K% | -136.3K% | -15.1K% | -1.7K% | 72% | -219.2% | -107.9% | -7.6K% | -7.1K% | — |
| Non-operating income, net | 3.8M | 3.8M | 5.4M | 5.2M | 5.7M | 6.3M | 6.5M | 6.9M | 6.7M | 4.3M | 2.2M | 2.2M |
| Pretax income | -39.4M | -40.2M | -43.1M | -45.3M | -53M | -45.7M | 158.5M | -32.9M | -8.7M | -25M | -23.7M | -28.7M |
| Income tax | — | — | — | — | — | — | 10M | -2.2M | -1.4M | -1.5M | 0 | 0 |
| Net income | -39.4M | -40.2M | -43.1M | -45.3M | -53M | -46M | 148.5M | -30.7M | -7.3M | -23.5M | -23.7M | -28.7M |
| Net margin | -493K% | -28.1K% | -51.9K% | -122.3K% | -13.6K% | -1.5K% | 70.3% | -169% | -51% | -6.1K% | -6.5K% | — |
| EBITDA | -47M | -40M | -54M | -55.5M | -64.1M | -35.7M | 145.6M | -46.6M | -21.9M | -32.9M | -27.8M | -32.8M |
| EPS | -1.33 | — | -1.21 | -1.25 | -1.41 | -1.14 | 3.66 | -0.76 | -0.18 | -0.86 | -1.21 | -1.45 |
| Diluted EPS | -1.33 | — | -1.21 | -1.25 | -1.41 | -1.14 | 3.62 | -0.76 | -0.18 | -0.86 | -1.21 | -1.45 |
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 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Market cap | — | — | — | — | 1.1B | — | — | 757.8M | 223.7M |
| Enterprise value | — | — | — | — | 859.6M | — | — | 487.3M | -11.5M |
| Shares outstanding | 8.9M | 18.2M | 15.5M | 23.3M | 23.4M | 29.4M | 37.4M | 37.2M | 37.2M |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| P/E | — | — | — | — | — | — | — | 8.71 | 4.61 |
| P/S | — | — | — | — | — | — | — | 3.11 | 14.9 |
| P/B | — | — | — | — | 4.06 | — | — | 2.5 | 0.85 |
| EV/EBITDA | — | — | — | — | -7.99 | — | — | 11 | 0.12 |
| EV/Sales | — | — | — | — | — | — | — | 2 | -0.77 |
| Earnings yield | — | — | — | — | — | — | — | 11.5% | 21.7% |
| FCF yield | — | — | — | — | -6.34% | — | — | 14% | -12.2% |
| PEG | — | — | — | — | — | — | — | — | 0.05 |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Operating margin | -13.2% | -100% | — | -280.5% | — | -111K% | -5.9K% | 27.7% | -655.8% |
| Net margin | -13.4% | -123.4% | — | -292.3% | — | -101.3K% | -5.3K% | 35.7% | 0% |
| ROE | -10.5% | -2.5K% | -17.3% | -24.2% | -37.7% | -46.1% | -32.8% | 28.7% | -17.2% |
| ROA | -4.87% | -112.6% | -16.8% | -23% | -34.1% | -41.3% | -30.4% | 25.7% | -11.8% |
| ROIC | 13.6% | 190.6% | 1.4K% | -396.3% | -925.3% | -1.1K% | -687.6% | 196.3% | -496.5% |
| Return on tangible assets | -4.87% | -112.6% | -16.8% | -23% | -34.1% | -41.3% | -30.4% | 25.7% | -28.9% |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Current ratio | 2.23 | 1.99 | 37.3 | 21.2 | 17.3 | 14.2 | 21.5 | 15.5 | 22 |
| Quick ratio | 2.23 | 1.99 | 37.3 | 21.2 | 17.3 | 14.2 | 21.5 | 15.5 | 22 |
| Debt / equity | 0.06 | 2.58 | 0 | 0 | 0.05 | 0.04 | 0.03 | 0.06 | 0.06 |
| Debt / assets | 0.03 | 0.12 | 0 | 0 | 0.04 | 0.04 | 0.03 | 0.05 | 0.05 |
| Net debt / EBITDA | 19.2 | 0.47 | 5.86 | 4.06 | 2.47 | 1.9 | 2.58 | -6.12 | 2.1 |
| Interest coverage | -220.2 | -1.5K | -7.6K | -14.2K | -104.7K | — | — | — | — |
| Effective tax rate | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 5.31% | 0% |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Revenue per share | 1.13 | 0.55 | 0 | 0.86 | 0 | 0.01 | 0.09 | 6.56 | 0.56 |
| EPS (basic) | -0.15 | -0.78 | -2.93 | -2.52 | -4.15 | -5.2 | -5 | 2.34 | 2.34 |
| EPS (diluted) | -0.15 | -0.78 | -2.93 | -2.52 | -4.15 | -5.2 | -5 | 2.3 | -3.22 |
| Book value per share | 1.44 | 0.03 | 16.9 | 10.4 | 11.8 | 11.3 | 15.3 | 8.14 | 13.2 |
| FCF per share | 0.77 | -0.89 | -2.4 | -2.71 | -3.04 | -4.31 | -4.35 | 2.85 | -2.45 |
| Cash per share | 2.62 | 0.39 | 17.1 | 9.86 | 11.9 | 11.2 | 15 | 7.72 | 13 |
| Capex per share | 0.02 | 0.01 | 0.02 | 0.04 | 0.05 | 0.08 | 0.05 | — | — |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Capex / revenue | 2.17% | 2.71% | — | 5.09% | — | 1.6K% | 54.4% | — | — |
| Capex / operating cash flow | 2.48% | -1.42% | -0.77% | -1.62% | -1.72% | -2.05% | -1.26% | — | — |
| Payout ratio | — | — | — | — | — | — | — | — | 0% |
| — |
| -$2.52 |
| — |
| — |
| $20.1M |
| — |
| FY20 | — | -$2.93 | — | — | $0 | — |
| FY19 | — | -$0.78 | — | — | $10M | — |
| FY18 | — | -$0.15 | — | — | $10M | — |
| 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 | $8K | $143K | $83K | $37K | $388K | $3M | $211.2M | $18.2M | $14.3M | $385K | $367K | $0 |
| YoY change | +InfinityT% | +InfinityT% | +InfinityT% | +InfinityT% | +4.8K% | +2K% | +254.4K% | +49K% | +3.6K% | -87.3% | -99.8% | -100% |
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 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|
| Cash & short-term investments | 23.3M | 7M | 265.9M | 230M | 279M | 331.1M | 559.9M | 287.4M |
| Receivables | — | — | 0 | 18M | 0 | 143K | 2.7M | 3.6M |
| Inventory | — | — | — | — | — | — | — | — |
| Total current assets | 25.5M | 8.9M | 267.7M | 251.4M | 285.8M | 347.3M | 588.9M | 315.4M |
| Property, plant & equipment | 1.4M | 1.9M | 1.6M | 2.4M | 17.6M | 19.5M | 23.5M | 21.1M |
| Goodwill & intangibles | — | — | — | — | — | — | — | — |
| Total assets | 27.4M | 11M | 269.4M | 255.3M | 306.8M | 370M | 615.9M | 338M |
| Accounts payable | 501K | 2.1M | 2.1M | 3.6M | 3.3M | 5.5M | 4.6M | 2M |
| Short-term debt | 166K | 376K | 423K | 862K | 455K | 1M | 2M | 2.4M |
| Total current liabilities | 11.5M | 4.5M | 7.2M | 11.8M | 16.5M | 24.4M | 27.4M | 20.4M |
| Long-term debt | 622K | 899K | 476K | 231K | 12.8M | 13.4M | 16.9M | 14.5M |
| Total liabilities | 14.7M | 10.5M | 7.7M | 12.1M | 29.4M | 37.8M | 44.3M | 34.9M |
| Shareholders' equity | 12.8M | 495K | 261.7M | 243.2M | 277.4M | 332.2M | 571.6M | 303.1M |
| Total debt | 788K | 1.3M | 899K | 1.1M | 13.3M | 14.4M | 18.9M | 16.9M |
| Net debt | -22.5M | -5.7M | -265M | -228.9M | -265.8M | -316.7M | -541.1M | -270.5M |
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 | 287.9M | 331.1M | 442.4M | 405.9M | 530.7M | 559.9M | 720.5M | 690.2M | 693.5M | 287.4M | 281.5M | 257.6M |
| Receivables | — | 143K | 226K | 4K | 388K | 2.7M | 17.3M | 15.8M | 3.5M | 3.6M | 400K | 0 |
| Inventory | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current assets | 304.4M | 347.3M | 463.1M | 432.7M | 552M | 588.9M | 759.5M | 732.8M | 719.3M | 315.4M | 290.7M | 266.9M |
| Property, plant & equipment | 19M | 19.5M | 19.4M | 18.9M | 24.2M | 23.5M | 23.1M | 22.9M | 22M | 21.1M | 20.2M | 19.3M |
| Goodwill & intangibles | — | — | — | — | — | — | — | — | — | — | — | — |
| Total assets | 326.2M | 370M | 485.8M | 455M | 579.3M | 615.9M | 784.6M | 757.2M | 742.8M | 338M | 312.3M | 287.6M |
| Accounts payable | 3.9M | 5.5M | 5M | 6.5M | 5M | 4.6M | 6.6M | 5.3M | 2.3M | 2M | 1.5M | 1.8M |
| Short-term debt | 611K | 1M | 1.1M | 1.1M | 1.9M | 2M | 2.1M | 2.2M | 2.3M | 2.4M | 2.5M | 2.6M |
| Total current liabilities | 16.7M | 24.4M | 18.7M | 21.2M | 29M | 27.4M | 39.4M | 34.7M | 24.1M | 20.4M | 12.9M | 12.2M |
| Long-term debt | 13.7M | 13.4M | 13.2M | 12.9M | 17.4M | 16.9M | 16.3M | 15.7M | 15.1M | 14.5M | 13.8M | 13.1M |
| Total liabilities | 30.4M | 37.8M | 31.9M | 34.1M | 46.4M | 44.3M | 55.7M | 50.4M | 39.2M | 34.9M | 26.7M | 25.3M |
| Shareholders' equity | 295.8M | 332.2M | 453.9M | 420.9M | 532.8M | 571.6M | 728.9M | 706.7M | 703.6M | 303.1M | 285.6M | 262.3M |
| Total debt | 14.3M | 14.4M | 14.2M | 14M | 19.3M | 18.9M | 18.4M | 18M | 17.4M | 16.9M | 16.3M | 15.7M |
| Net debt | -273.6M | -316.7M | -428.2M | -391.9M | -511.4M | -541.1M | -702.1M | -672.3M | -676M | -270.5M | -265.2M | -241.9M |
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 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|
| Net income | -1.3M | -12.3M | -45.4M | -58.7M | -104.7M | -153M | -187.4M | 87M |
| Depreciation & amortization | 153K | 208K | 278K | 378K | 674K | 815K | 1.2M | 1.5M |
| Stock-based compensation | 81K | 59K | 4.1M | 11.7M | 18.7M | 28.8M | 34.9M | 28.7M |
| Change in working capital | 9.7M | -9.8M | 1.2M | -17.2M | 12.3M | 1.4M | -4.2M | -6M |
| Operating cash flow | 8.7M | -19.1M | -38M | -63.3M | -72.1M | -120.5M | -153.6M | 107.5M |
| Capital expenditure | -217K | -271K | -294K | -1M | -1.2M | -2.5M | -1.9M | — |
| Investing cash flow | -217K | -271K | -294K | -1M | -1.2M | -2.5M | -1.9M | — |
| Dividends paid | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | -375M |
| Financing cash flow | 11.5M | 0 | 296M | 28.2M | 119.5M | 175.7M | 379.7M | -378.8M |
| Net change in cash | 20M | -19.4M | 257.7M | -36.2M | 46.2M | 52.8M | 224.1M | -271.3M |
| Free cash flow | 6.8M | -16.3M | -37.2M | -63.2M | -71.3M | -127M | -162.8M | 106M |
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 | -40.2M | -43.1M | -45.3M | -53M | -46M | 148.5M | -30.7M | -7.3M | -23.5M | -23.7M | -28.7M |
| Depreciation & amortization | 210K | 247K | 277K | 306K | 314K | 332K | 344K | 370K | 395K | 400K | 403K | 402K |
| Stock-based compensation | 8.7M | 7.3M | 8.1M | 8.8M | 8.8M | 9.2M | 8.9M | 8.5M | 4M | 7.3M | 6.2M | 5.4M |
| Change in working capital | 182K | 552K | -300K | 1.5M | -1.8M | -3.5M | -8.1M | -2.3M | 8.1M | -3.7M | 2.5M | 136K |
| Operating cash flow | -30M | -31.8M | -34.7M | -34.3M | -45.1M | -39.5M | 150.2M | -29.6M | 3.2M | -27.3M | -3.5M | -20.4M |
| Capital expenditure | -550K | -541K | -946K | -310K | -386K | -289K | -565K | — | — | — | — | — |
| Investing cash flow | -550K | -541K | -946K | -310K | -386K | -289K | -565K | — | — | — | — | — |
| Dividends paid | — | — | — | — | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — | — | — | — | — |
| Financing cash flow | 0 | 68.5M | 151.1M | 564K | 154.9M | 73.1M | 0 | 0 | 138K | -138K | -2.3M | -3.3M |
| Net change in cash | -30.5M | 36.1M | 115.4M | -34.1M | 109.5M | 33.3M | 149.6M | -29.6M | 3.4M | -27.4M | -5.9M | -23.8M |
| Free cash flow | -34.5M | -26M | -45.5M | -40.1M | -30.9M | -46.3M | 160.6M | -30.3M | 3.1M | -27.4M | -3.6M | -20.6M |