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 | -$1.07 | -$1.02 | +4.7% | — | $5.5M | — |
| Q1 26 | -$1.07 | -$1.32 | -23.4% | — | $1.9M | — |
| Q4 25 | -$0.92 | -$1.16 | -26.1% | — | $1.6M | — |
| Q3 25 | -$0.69 | -$0.59 | +14.5% | — | $12.5M | — |
| Q2 25 | -$0.54 | -$0.53 | +1.9% | — | $5M | — |
| Q1 25 | -$0.32 | -$0.53 | -65.6% | — | $0 | — |
| Q4 24 | -$0.4 | -$0.46 | -15.0% | — | $0 | — |
| Q3 24 | -$0.43 | -$0.38 | +11.6% | — | $0 | — |
| Q2 24 | -$0.67 | -$0.4 | +40.3% | — | $0 | — |
| Q1 24 | -$0.82 | -$3.53 | -330.5% | — | $0 | — |
| Q4 23 | -$0.13 | -$0.4 | -207.7% | — | — | — |
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 | — | -$2.85 | — | — | $19.1M | — |
| FY24 | — | -$2.34 | — | — | $0 | — |
| FY23 | — | -$2.74 | — | — | — | — |
| FY22 | — | -$0.42 | — | — | $15M | — |
| FY21 | — | -$0.3 | — | — |
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 | $15M | — | $0 | $19.1M |
| YoY change | — | +InfinityT% | — | — | +InfinityT% |
Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.
| Period | Q2 23 | Q3 23 | Q1 24 | Q2 24 | Q3 24 | Q4 24 | Q1 25 | Q2 25 | Q3 25 | Q4 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 | 15M | — | 0 | 19.1M |
| Cost of revenue | — | — | — | — | 418K |
| Gross profit | — | — | — | — | 18.7M |
| Gross margin | — | — | — | — | 97.8% |
| Research & development | 4.2M | 21.1M | — | 29.8M | 18.7M |
| Selling, general & administrative | 2.5M | 4.4M | — | 28.8M | 91.1M |
| Operating expenses | 6.7M | 25.5M | — | 58.6M | 109.8M |
| Operating income | -6.7M | -10.5M | — | -58.6M | -91.1M |
| Operating margin | — | -69.9% | — | — | -477.5% |
| Non-operating income, net | -869K | 19K | — | 289K | -243K |
| Pretax income | -7.6M | -10.5M | — | -49.8M | -81.6M |
| Income tax | 0 | 347K | — | 1K | 502K |
| Net income | -7.6M | -10.8M | — | -49.8M | -82.1M |
| Net margin | — | -72.1% | — | — | -430.3% |
| EBITDA | -6.7M | -10.5M | — | -58.6M | -90.9M |
| EPS | -0.3 | -0.42 | -2.74 | -2.34 | -2.85 |
| Diluted EPS | -0.3 | -0.42 | -2.74 | -2.34 | -2.85 |
Revenue, gross profit, operating income, and net income per period.
Click a row to chart it; unreported figures show a dash.
| Period | Q2 23 | Q3 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 | 5M | 12.5M | 1.6M | 1.9M | 5.5M |
| Cost of revenue | — | — | — | — | — | — | — | — | — | — | 1.1M | 280K |
| Gross profit | — | — | — | — | — | — | — | — | — | — | 825K | 5.2M |
| Gross margin | — | — | — | — | — | — | — | — | — | — | 43.4% | 94.9% |
| Research & development | 12.6M | 17M | 10.5M | 6.9M | 6.5M | 5.9M | 5.8M | 9.1M | 3.8M | 0 | 0 | 0 |
| Selling, general & administrative | 2.3M | 2.9M | 5.6M | 7.4M | 6.5M | 9.4M | 11.1M | 12.8M | 27.6M | 39.6M | 45M | 39.4M |
| Operating expenses | 15M | 19.9M | 16.1M | 14.4M | 12.9M | 15.2M | 16.9M | 21.9M | 31.4M | 39.6M | 45M | 39.4M |
| Operating income | -15M | -19.9M | -16.1M | -14.4M | -12.9M | -15.2M | -16.9M | -16.9M | -18.9M | -38.5M | -44.1M | -34.2M |
| Operating margin | — | — | — | — | — | — | — | -337.1% | -151.1% | -2.4K% | -2.3K% | -622.9% |
| Non-operating income, net | -18K | -101K | -1.3M | 1.6M | -6K | 8K | -11K | 199K | -14K | -417K | 3K | -13K |
| Pretax income | -14.7M | -18.9M | -16.6M | -10.3M | -10.2M | -12.7M | -14.6M | -14.4M | -16.7M | -35.9M | -41.5M | -31.9M |
| Income tax | — | — | — | — | — | — | — | 500K | 0 | 2K | — | 3K |
| Net income | -14.7M | -18.9M | -16.6M | -10.3M | -10.2M | -12.7M | -14.6M | -14.9M | -16.7M | -35.9M | -41.5M | -31.9M |
| Net margin | — | — | — | — | — | — | — | -298.2% | -133.6% | -2.3K% | -2.2K% | -581.8% |
| EBITDA | -15M | -19.9M | -16.1M | -14.3M | -12.9M | -15.2M | -16.9M | -16.8M | -18.8M | -38.4M | -44M | -34.1M |
| EPS | -0.58 | -0.74 | -3.53 | -0.4 | -0.38 | -0.46 | -0.53 | -0.53 | -0.59 | -1.16 | -1.32 | -1.02 |
| Diluted EPS | -0.58 | -0.74 | -3.53 | -0.4 | -0.38 | -0.46 | -0.53 | -0.53 | -0.59 | -1.16 | -1.32 | -1.02 |
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 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|
| Market cap | 317.4M | 84.8M | 66.9M | — | — | 124.4M |
| Enterprise value | 299.1M | 40.6M | 66.9M | — | — | -96.4M |
| Shares outstanding | 25.5M | 25.5M | 25.5M | 21.3M | 28.8M | 28.8M |
| Metric | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|
| P/E | — | — | — | — | — | 48 |
| P/S | — | 5.65 | — | — | — | 5.73 |
| P/B | -22.3 | -3.51 | — | — | — | 0.56 |
| EV/EBITDA | -44.7 | -3.87 | — | — | — | 0.71 |
| EV/Sales | — | 2.71 | — | — | — | -4.49 |
| Earnings yield | — | — | — | — | — | 2.08% |
| FCF yield | -1.7% | -4.87% | — | — | — | -57.3% |
| PEG | — | — | — | — | — | 0.52 |
| Metric | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|
| Gross margin | — | — | — | — | 97.8% | 94.9% |
| Operating margin | — | -69.9% | — | — | -477.5% | -622.9% |
| Net margin | — | -72.1% | — | — | -430.3% | 97.8% |
| ROE | 53.2% | 44.7% | — | -24.4% | -28.9% | -59.2% |
| ROA | -41.2% | -23% | — | -23.1% | -26.8% | -37.4% |
| ROIC | 20.6% | 15.3% | — | 1.6K% | 1.3K% | 1.3K% |
| Return on tangible assets | -41.2% | -23% | — | -23.1% | -26.8% | -53.3% |
| Metric | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|
| Current ratio | 14.6 | 4.91 | — | 20.4 | 14.2 | 13.6 |
| Quick ratio | 14.6 | 4.91 | — | 20.4 | 14.1 | 13.3 |
| Debt / equity | 0 | -0.01 | — | 0.01 | 0 | 0 |
| Debt / assets | 0 | 0.01 | — | 0.01 | 0 | 0 |
| Net debt / EBITDA | 2.74 | 4.22 | — | 3.55 | 3.21 | 1.62 |
| Effective tax rate | 0% | 0% | — | 0% | 0% | 0% |
| Metric | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|
| Revenue per share | 0 | 0.59 | — | 0 | 0.66 | 0.7 |
| EPS (basic) | -0.3 | -0.42 | -2.74 | -2.34 | -2.85 | -2.85 |
| EPS (diluted) | -0.3 | -0.42 | -2.74 | -2.34 | -2.85 | -4.13 |
| Book value per share | -0.56 | -0.95 | — | 9.59 | 9.87 | 6.98 |
| FCF per share | -0.21 | -0.16 | — | -2.81 | -2.43 | -3.65 |
| Cash per share | 0.72 | 1.74 | — | 9.82 | 10.1 | 7 |
| Capex per share | 0 | 0 | — | 0.02 | — | — |
| Metric | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|
| Capex / revenue | — | 0.25% | — | — | — | — |
| Capex / operating cash flow | -0.13% | -0.64% | — | -0.96% | — | — |
| Payout ratio | — | — | — | — | — | 0% |
Split-adjusted payout per share by ex-dividend date.
| Ex-dividend | Amount |
|---|---|
| Mar 22, 2024 | $7.21 |
| Date | Ratio |
|---|---|
| Mar 22, 2024 | 1:7 |
| $0 |
| — |
| Q1 26 |
|---|
| Q2 26 |
|---|
| Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $5M | $12.5M | $1.6M | $1.9M | $5.5M |
| YoY change | — | — | 0% | 0% | 0% | — | 0% | +InfinityT% | +InfinityT% | +InfinityT% | +InfinityT% | +9.72% |
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 | FY21 | FY22 | FY24 | FY25 |
|---|---|---|---|---|
| Cash & short-term investments | 18.3M | 44.4M | 209M | 292.3M |
| Receivables | — | — | — | 329K |
| Inventory | — | — | — | 2.9M |
| Total current assets | 18.3M | 46.6M | 211.9M | 301.4M |
| Property, plant & equipment | 10K | 279K | 2M | 1.9M |
| Goodwill & intangibles | — | — | — | — |
| Total assets | 18.3M | 47M | 215.3M | 305.9M |
| Accounts payable | 460K | 4.8M | 4.3M | 4.2M |
| Short-term debt | — | 103K | 567K | 465K |
| Total current liabilities | 1.3M | 9.5M | 10.4M | 21.2M |
| Long-term debt | 0 | 147K | 814K | 350K |
| Total liabilities | 32.5M | 71.1M | 11.2M | 21.5M |
| Shareholders' equity | -14.2M | -24.2M | 204.1M | 284.3M |
| Total debt | 0 | 250K | 1.4M | 815K |
| Net debt | -18.3M | -44.2M | -18.8M | -24.4M |
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 | Q4 22 | Q3 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 | 44.4M | 88.2M | 213.3M | 196.1M | 217.1M | 209M | 194M | 209.5M | 202.2M | 292.3M | 258.4M | 220M |
| Receivables | — | — | — | — | — | — | — | — | — | 329K | 343K | 442K |
| Inventory | — | — | — | — | — | — | — | — | 949K | 2.9M | 3.5M | 4.1M |
| Total current assets | 46.6M | 89.9M | 216.7M | 199.3M | 220.7M | 211.9M | 197.9M | 213.6M | 207M | 301.4M | 268.4M | 233.3M |
| Property, plant & equipment | 279K | 409K | 627K | 1.9M | 1.9M | 2M | 2M | 2.1M | 2.1M | 1.9M | 1.7M | 1.5M |
| Goodwill & intangibles | — | — | — | — | — | — | — | — | — | — | — | — |
| Total assets | 47M | 92.2M | 217.3M | 202.6M | 224M | 215.3M | 201.3M | 217.3M | 210.7M | 305.9M | 272.5M | 236.6M |
| Accounts payable | 4.8M | 5.1M | 7.1M | 4.4M | 2.8M | 4.3M | 3.7M | 2.9M | 4.3M | 4.2M | 10.9M | 6.6M |
| Short-term debt | 103K | 133K | 433K | 649K | 625K | 567K | 509K | 482K | 493K | 465K | 436K | 447K |
| Total current liabilities | 9.5M | 16.8M | 18.9M | 8.6M | 7.7M | 10.4M | 8.6M | 10.4M | 16.3M | 21.2M | 25.8M | 17.2M |
| Long-term debt | 147K | 227K | 156K | 1.1M | 953K | 814K | 673K | 569K | 461K | 350K | 237K | 122K |
| Total liabilities | 71.1M | 161.7M | 19.2M | 9.7M | 8.7M | 11.2M | 9.2M | 11M | 16.8M | 21.5M | 26M | 17.3M |
| Shareholders' equity | -24.2M | -69.6M | 198.2M | 192.9M | 215.3M | 204.1M | 192M | 206.4M | 193.9M | 284.3M | 246.5M | 219.3M |
| Total debt | 250K | 360K | 589K | 1.7M | 1.6M | 1.4M | 1.2M | 1.1M | 954K | 815K | 673K | 569K |
| Net debt | -44.2M | -42.5M | -199.8M | -82.3M | -39.5M | -18.8M | -21.9M | -36.6M | -24.4M | -24.4M | -24.1M | -23.6M |
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 | FY24 | FY25 |
|---|---|---|---|---|
| Net income | -7.6M | -10.8M | -49.8M | -82.1M |
| Depreciation & amortization | 2K | 8K | 58K | 287K |
| Stock-based compensation | 196K | 721K | 6.4M | 12.5M |
| Change in working capital | 380K | 4.3M | -5.7M | -4.5M |
| Operating cash flow | -7M | -5.8M | -49M | -69.2M |
| Capital expenditure | -9K | -37K | -468K | — |
| Investing cash flow | -9K | -37K | -154.5M | -74.8M |
| Dividends paid | — | — | — | — |
| Share repurchases | — | — | — | — |
| Financing cash flow | 22.8M | 30.1M | 195M | 147.7M |
| Net change in cash | 15.8M | 24.3M | -8.5M | 3.7M |
| Free cash flow | -5.4M | -4.1M | -59.9M | -70M |
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 | Q2 23 | Q3 23 | Q1 24 | Q2 24 | Q3 24 | Q4 24 | Q1 25 | Q2 25 | Q3 25 | Q4 25 | Q1 26 | Q2 26 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net income | -14.7M | -18.9M | -16.6M | -10.3M | -10.2M | -12.7M | -14.6M | -14.9M | -16.7M | -35.9M | -41.5M | -31.9M |
| Depreciation & amortization | 4K | 4K | 5K | 18K | 10K | 25K | 36K | 19K | 125K | 107K | 111K | 110K |
| Stock-based compensation | 189K | 494K | 947K | 1.6M | 2.2M | 1.6M | 2.6M | 2.8M | 3.5M | 3.7M | 4.3M | 4.5M |
| Change in working capital | -1.6M | 2M | -1.3M | -2.7M | -1.6M | 1.3M | -771K | -1.1M | 745K | -3.1M | 5.8M | -4.3M |
| Operating cash flow | -16.2M | -16.4M | -17M | -11.3M | -9.7M | -9.7M | -12.8M | -11.5M | -8.6M | -33M | -33.6M | -38.7M |
| Capital expenditure | -24K | 0 | 0 | -133K | -186K | -149K | -110K | — | — | — | — | — |
| Investing cash flow | -24K | -17.9M | 18M | -98.4M | -62.2M | -11.9M | 18.9M | -174K | -3.9M | -89.8M | 33.2M | 37.8M |
| Dividends paid | — | — | — | — | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — | — | — | — | — |
| Financing cash flow | 0 | 0 | 170.8M | -5.5M | 29.8M | -85K | 0 | 26.1M | 0 | 121.7M | — | — |
| Net change in cash | -16.2M | -34.3M | 171.9M | -115.3M | -42.1M | -21.6M | 6.1M | 14.4M | -12.5M | -1.1M | -403K | -943K |
| Free cash flow | -13.5M | -13.1M | -23.9M | -15.9M | -10.8M | -9.2M | -16.2M | -11.7M | -9M | -33.1M | -33.6M | -38.7M |