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 | -$0.74 | -$0.62 | +16.2% | — | $65M | — |
| Q1 26 | -$0.86 | -$0.71 | +17.4% | — | $34.4M | — |
| Q4 25 | -$0.77 | -$0.98 | -27.3% | — | $2.9M | — |
| Q3 25 | -$0.78 | -$0.94 | -20.5% | — | $2.8M | — |
| Q2 25 | -$0.8 | -$0.95 | -18.7% | — | $11.5M | — |
| Q1 25 | -$0.91 | -$0.82 | +9.9% | — | $22.1M | — |
| Q4 24 | -$0.79 | -$0.89 | -12.7% | — | $7.4M | — |
| Q3 24 | -$0.84 | -$0.82 | +2.4% | — | $3.7M | — |
| Q2 24 | -$0.66 | -$0.58 | +12.1% | — | $25.6M | — |
| Q1 24 | -$0.72 | -$0.62 | +13.9% | — | $10.3M | — |
| Q4 23 | -$0.38 | -$0.25 | +34.2% | — | $47.9M | — |
| Q3 23 | -$0.7 | -$0.9 | -28.6% | — | $4.7M | — |
| Q2 23 | -$0.74 | -$0.67 | +9.5% | — | $16.5M | — |
| Q1 23 | -$0.69 | -$0.7 | -1.4% | — | $9.5M | — |
| Q4 22 | -$0.63 | -$0.59 | +6.3% | — | $16.1M | — |
| Q3 22 | -$0.75 | -$0.79 | -5.3% | — | $9.6M | — |
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 | — | -$3.69 | — | — | $39.2M | — |
| FY24 | — | -$2.98 | — | — | $47.1M | — |
| FY23 | — | -$2.52 | — | — | $78.6M | — |
| FY22 | — | -$2.87 | — | — | $46.8M | — |
| 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 | $0 | $2.9M | $34M | $72.8M | $46.8M | $78.6M | $47.1M | $39.2M |
| YoY change | — | +InfinityT% | +1.1K% | +114% | -35.7% | +67.8% | -40.1% | -16.7% |
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 | 0 | 2.9M | 34M | 72.8M | 46.8M | 78.6M | 47.1M | 39.2M |
| Cost of revenue | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — | — |
| Research & development | 17.7M | 37.2M | 62.1M | 137M | 164.2M | 189.1M | 240.2M | 316.6M |
| Selling, general & administrative | 3.8M | 8M | 18.2M | 36.3M | 43.8M | 55M | 63.5M | 68.2M |
| Operating expenses | 21.5M | 45.1M | 80.3M | 173.4M | 208.1M | 244.1M | 303.8M | 384.8M |
| Operating income | -21.5M | -42.2M | -46.3M | -100.5M | -161.3M | -165.5M | -256.7M | -345.5M |
| Operating margin | — | -1.4K% | -136.1% | -138% | -344.4% | -210.6% | -545.4% | -881.2% |
| Non-operating income, net | — | — | — | — | — | — | -4.9M | -3.9M |
| Pretax income | -21.5M | -41.2M | -45.6M | -100.2M | -154.8M | -147M | -223.9M | -311.4M |
| Income tax | — | — | — | — | — | — | — | — |
| Net income | -21.5M | -41.2M | -45.6M | -100.2M | -154.8M | -147M | -223.9M | -311.4M |
| Net margin | — | -1.4K% | -134% | -137.6% | -330.6% | -187% | -475.6% | -794% |
| EBITDA | -21.2M | -40.4M | -43.7M | -97.6M | -151.7M | -143.2M | -211.3M | -298.8M |
| EPS | -1.07 | -1.37 | -3.15 | -2.09 | -2.87 | -2.52 | -2.98 | -3.69 |
| Diluted EPS | -1.07 | -1.37 | -3.15 | -2.09 | -2.87 | -2.52 | -2.98 | -3.69 |
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 | 4.7M | 47.9M | 10.3M | 25.6M | 3.7M | 7.4M | 22.1M | 11.5M | 2.8M | 2.9M | 34.4M | 65M |
| Cost of revenue | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — | — | — | — | — | — |
| Research & development | 48.1M | 53M | 48.8M | 59.2M | 60.4M | 71.8M | 80.3M | 78.4M | 74.1M | 83.8M | 98.2M | 119.5M |
| Selling, general & administrative | 14.1M | 14.2M | 14.4M | 17.4M | 15.5M | 16.3M | 16.3M | 17.6M | 17.3M | 16.9M | 20.4M | 21.1M |
| Operating expenses | 62.2M | 67.2M | 63.2M | 76.6M | 75.9M | 88.1M | 96.5M | 96M | 91.4M | 100.8M | 118.5M | 140.6M |
| Operating income | -57.5M | -19.3M | -52.9M | -50.9M | -72.1M | -80.8M | -74.4M | -84.6M | -88.7M | -97.9M | -84.2M | -75.6M |
| Operating margin | -1.2K% | -40.3% | -514.3% | -198.5% | -1.9K% | -1.1K% | -336.8% | -736.8% | -3.2K% | -3.4K% | -244.9% | -116.3% |
| Non-operating income, net | — | — | -4.9M | — | — | 0 | — | — | -3.9M | 0 | — | — |
| Pretax income | -52.9M | -14.4M | -48.6M | -42.1M | -62.5M | -70.8M | -65.6M | -76.6M | -82.2M | -87M | -69.2M | -61.2M |
| Income tax | — | — | — | — | — | — | — | — | — | — | — | — |
| Net income | -52.9M | -14.4M | -48.6M | -42.1M | -62.5M | -70.8M | -65.6M | -76.6M | -82.2M | -87M | -69.2M | -61.2M |
| Net margin | -1.1K% | -30% | -472% | -164% | -1.7K% | -956.9% | -296.7% | -667.6% | -3K% | -3K% | -201.5% | -94.2% |
| EBITDA | -51.9M | -13.4M | -42.1M | -40.1M | -60.4M | -68.7M | -63.5M | -74.4M | -76.1M | -84.9M | -67.2M | -59.1M |
| EPS | -0.9 | -0.25 | -0.69 | -0.58 | -0.82 | -0.88 | -0.82 | -0.95 | -0.94 | -0.97 | -0.71 | -0.62 |
| Diluted EPS | -0.9 | -0.25 | -0.69 | -0.58 | -0.82 | -0.88 | -0.82 | -0.95 | -0.94 | -0.97 | -0.71 | -0.62 |
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 | — | — | — | — | — | 1.5B | — | — | 9.3B |
| Enterprise value | — | — | — | — | — | 1.2B | — | — | 8.7B |
| Shares outstanding | 20.1M | 30.2M | 17.3M | 48M | 53.9M | 58.4M | 75M | 84.5M | 84.5M |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| P/E | — | — | — | — | — | — | — | — | -30.4 |
| P/S | — | — | — | — | — | 18.9 | — | — | 89.3 |
| P/B | — | — | — | — | — | 3.76 | — | — | 6.19 |
| EV/EBITDA | — | — | — | — | — | -8.35 | — | — | -25.6 |
| EV/Sales | — | — | — | — | — | 15.2 | — | — | 82.8 |
| Earnings yield | — | — | — | — | — | — | — | — | -3.29% |
| FCF yield | — | — | — | — | — | -9.24% | — | — | -1.55% |
| PEG | — | — | — | — | — | — | — | — | 0.87 |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Operating margin | — | -1.4K% | -136.1% | -138% | -344.4% | -210.6% | -545.4% | -881.2% | -116.3% |
| Net margin | — | -1.4K% | -134% | -137.6% | -330.6% | -187% | -475.6% | -794% | -285.3% |
| ROE | 62.3% | 55.4% | -16.1% | -21.8% | -31.6% | -37.2% | -26.8% | -19.7% | -24.2% |
| ROA | -48.5% | -35.3% | -9.36% | -16.5% | -25.7% | -25.5% | -22.9% | -17.9% | -15.6% |
| Return on tangible assets | -48.5% | -35.3% | -9.36% | -16.5% | -25.7% | -25.5% | -22.9% | -17.9% | -18.2% |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Current ratio | 8.92 | 2.69 | 2.73 | 4.88 | 5.88 | 4.73 | 7.53 | 10.5 | 10.3 |
| Quick ratio | 8.92 | 2.69 | 2.73 | 4.88 | 5.88 | 4.73 | 7.53 | 10.5 | 10.3 |
| Debt / equity | -0.02 | -0.28 | 0.06 | 0.04 | 0.04 | 0.21 | 0.11 | 0.05 | 0.05 |
| Debt / assets | 0.02 | 0.18 | 0.04 | 0.03 | 0.03 | 0.15 | 0.09 | 0.05 | 0.05 |
| Net debt / EBITDA | 1.91 | 1.75 | 6.36 | 4.35 | 2.57 | 2.03 | 1.9 | 2.56 | 2.13 |
| Interest coverage | -1.3K | -895.7 | -395.5 | -571.7 | -878.6 | -748.8 | -898 | -840.5 | -906.9 |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Revenue per share | 0 | 0.1 | 1.96 | 1.52 | 0.87 | 1.35 | 0.63 | 0.46 | 1.13 |
| EPS (basic) | -1.07 | -1.37 | -3.15 | -2.09 | -2.87 | -2.52 | -2.98 | -3.69 | -3.69 |
| EPS (diluted) | -1.07 | -1.37 | -3.15 | -2.09 | -2.87 | -2.52 | -2.98 | -3.69 | -3.25 |
| Book value per share | -1.71 | -2.46 | 16.4 | 9.58 | 9.09 | 6.77 | 11.1 | 18.7 | 18.2 |
| FCF per share | -0.95 | 0.58 | 4.56 | -2.72 | -2.89 | -2.35 | -2.76 | -2.77 | -2.42 |
| Cash per share | 2.05 | 3.05 | 17.1 | 9.22 | 7.55 | 6.42 | 6.51 | 10 | 8.31 |
| Capex per share | 0.07 | 0.02 | 0.52 | 0.03 | 0.05 | 0.59 | 0.17 | — | — |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Capex / revenue | — | 18.1% | 26.7% | 2.19% | 6.06% | 43.9% | 27.3% | — | — |
| Capex / operating cash flow | -6.92% | 3.28% | 10.7% | -1.11% | -1.8% | -34.9% | -7.1% | — | — |
| Payout ratio | — | — | — | — | — | — | — | — | 0% |
| — |
| -$2.09 |
| — |
| — |
| $72.8M |
| — |
| FY20 | — | -$3.15 | — | — | $34M | — |
| FY19 | — | -$1.37 | — | — | $2.9M | — |
| FY18 | — | -$1.07 | — | — | $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 | $4.7M | $47.9M | $10.3M | $25.6M | $3.7M | $7.4M | $22.1M | $11.5M | $2.8M | $2.9M | $34.4M | $65M |
| YoY change | -50.5% | +196.7% | +8.67% | +55.3% | -20.9% | -84.6% | +114.8% | -55.3% | -26.1% | -61.2% | +55.5% | +466.4% |
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 | 41.3M | 92M | 296.2M | 442.4M | 407.2M | 374.9M | 488.7M | 848.3M |
| Receivables | — | 0 | 577K | 0 | 0 | 15M | 0 | — |
| Inventory | — | — | — | — | — | — | — | — |
| Total current assets | 41.8M | 92.8M | 302.3M | 451.3M | 419.4M | 405.3M | 510.3M | 871.2M |
| Property, plant & equipment | 2.2M | 4.2M | 10.9M | 11.9M | 14.5M | 48.1M | 50.5M | 85.5M |
| Goodwill & intangibles | — | — | — | — | — | — | — | — |
| Total assets | 44.2M | 116.7M | 487.2M | 605.9M | 603.1M | 575.8M | 978M | 1.7B |
| Accounts payable | 2.1M | 3.3M | 4.4M | 4M | 4.3M | 7.1M | 6M | 4M |
| Short-term debt | 302K | 3.4M | 3.3M | 3.6M | 3.9M | 6.3M | 13.1M | 13.8M |
| Total current liabilities | 4.7M | 34.6M | 110.6M | 92.5M | 71.3M | 85.7M | 67.8M | 83.2M |
| Long-term debt | 393K | 17.8M | 14.7M | 14.4M | 13.4M | 78.3M | 74.6M | 68.5M |
| Total liabilities | 78.7M | 191.1M | 203.3M | 146.3M | 113M | 180.8M | 142.4M | 163.1M |
| Shareholders' equity | -34.4M | -74.4M | 283.9M | 459.6M | 490.2M | 395M | 835.6M | 1.6B |
| Total debt | 695K | 21.2M | 18M | 18M | 17.3M | 84.7M | 87.8M | 82.3M |
| Net debt | -40.6M | -54.8M | -13M | -30M | -51.1M | -25.3M | -32.5M | -274.8M |
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 | 357.8M | 374.9M | 520.5M | 510M | 550M | 488.7M | 463.1M | 665.4M | 505.7M | 848.3M | 650.9M | 691M |
| Receivables | — | 15M | 0 | 0 | 0 | 0 | — | 40M | — | — | — | 20M |
| Inventory | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current assets | 375.7M | 405.3M | 537.3M | 525.4M | 568.7M | 510.3M | 501M | 728.3M | 528.3M | 871.2M | 677.4M | 737.3M |
| Property, plant & equipment | 62M | 48.1M | 49.3M | 51.7M | 51.2M | 50.5M | 49.2M | 48.6M | 45.1M | 85.5M | 83.4M | 81.1M |
| Goodwill & intangibles | — | — | — | — | — | — | — | — | — | — | — | — |
| Total assets | 552.4M | 575.8M | 868.3M | 826M | 1B | 978M | 918.3M | 1.1B | 1.1B | 1.7B | 1.7B | 1.6B |
| Accounts payable | 5M | 7.1M | 6.8M | 6.5M | 6.5M | 6M | 10.3M | 5.8M | 5.5M | 4M | 12.8M | 8.9M |
| Short-term debt | 3.6M | 6.3M | 9.9M | 12.4M | 12.9M | 13.1M | 13.2M | 13.7M | 13.7M | 13.8M | 13.7M | 13.7M |
| Total current liabilities | 63.2M | 85.7M | 56.1M | 62.1M | 66.5M | 67.8M | 59M | 87.5M | 71.6M | 83.2M | 62.6M | 71.3M |
| Long-term debt | 77.2M | 78.3M | 77.1M | 75.8M | 75.4M | 74.6M | 73.1M | 72M | 70.3M | 68.5M | 66.7M | 64.9M |
| Total liabilities | 156.8M | 180.8M | 157M | 141.1M | 141.9M | 142.4M | 132.1M | 159.6M | 155.8M | 163.1M | 129.4M | 136.2M |
| Shareholders' equity | 395.5M | 395M | 711.2M | 684.9M | 892.9M | 835.6M | 786.2M | 971.5M | 946.3M | 1.6B | 1.5B | 1.5B |
| Total debt | 80.8M | 84.7M | 87M | 88.2M | 88.2M | 87.8M | 86.3M | 85.7M | 84M | 82.3M | 80.5M | 78.6M |
| Net debt | -208K | -25.3M | -6.5M | 20.6M | -22.5M | -32.5M | -3.6M | -250.1M | -29M | -274.8M | -63.6M | -45.9M |
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 | -21.5M | -41.2M | -45.6M | -100.2M | -154.8M | -147M | -223.9M | -311.4M |
| Depreciation & amortization | 205K | 825K | 1.8M | 2.4M | 3M | 3.6M | 7.4M | 8.3M |
| Stock-based compensation | 648K | 1.2M | 5.2M | 25M | 35.5M | 43.1M | 55M | 59.9M |
| Change in working capital | 574K | 55M | 122.9M | -70.5M | -41.1M | 1.5M | -19.2M | 10.2M |
| Operating cash flow | -19.6M | 16.2M | 84.6M | -143.4M | -157.5M | -98.8M | -180.7M | -232.9M |
| Capital expenditure | -1.4M | -532K | -9.1M | -1.6M | -2.8M | -34.5M | -12.8M | — |
| Investing cash flow | -1.4M | -16.5M | -422.6M | -99.8M | 20.5M | 139.9M | -404.1M | -519.6M |
| Dividends paid | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — |
| Financing cash flow | 52.9M | 34.8M | 289.1M | 241.9M | 148.7M | -76K | 595M | 927.4M |
| Net change in cash | 32M | 34.6M | -48.9M | -1.3M | 11.7M | 41M | 10.2M | 174.9M |
| Free cash flow | -19.2M | 17.4M | 79M | -130.5M | -155.9M | -137.3M | -207.3M | -234.3M |
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 | -52.9M | -14.4M | -48.6M | -42.1M | -62.5M | -70.8M | -65.6M | -76.6M | -82.2M | -87M | -69.2M | -61.2M |
| Depreciation & amortization | 895K | 891K | 1.5M | 1.9M | 2M | 2M | 2M | 2.1M | 2.1M | 2M | 2M | 2M |
| Stock-based compensation | 11.7M | 10.9M | 12M | 14.3M | 14.9M | 13.8M | 14.2M | 15.4M | 15.8M | 14.5M | 16M | 18.9M |
| Change in working capital | 7.6M | 2.7M | 12.1M | -21.9M | -42K | -9.4M | -18.4M | 1.7M | 34.5M | -7.5M | -24.1M | -25.2M |
| Operating cash flow | -32.7M | 104K | -23M | -47.6M | -45.6M | -64.4M | -67.7M | -59.9M | -27.1M | -66.7M | -88.8M | -54.1M |
| Capital expenditure | -8.1M | -11.6M | -7.4M | -4.7M | 189K | -936K | -467K | — | — | — | — | — |
| Investing cash flow | 60.5M | 19M | -330.6M | 15.6M | -157.7M | 68.6M | 48.6M | 60.7M | -235.1M | -394.3M | -142.4M | 20.5M |
| Dividends paid | — | — | — | — | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — | — | — | — | — |
| Financing cash flow | -340K | 925K | 349.8M | -352K | 245.9M | -293K | -277K | 236.9M | 35M | 655.8M | -425K | -436K |
| Net change in cash | 27.5M | 20M | -3.8M | -32.4M | 42.5M | 3.9M | -19.4M | 237.7M | -227.3M | 194.8M | -231.7M | -34M |
| Free cash flow | -39.7M | -3.6M | -47M | -47.6M | -50M | -62.7M | -79.6M | -60.6M | -27.3M | -66.9M | -89.3M | -54.5M |