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 % |
|---|---|---|---|---|---|---|
| Q1 26 | $0.01 | -$3.2 | -32100.0% | — | $63.6M | — |
| Q4 25 | -$1.24 | $1.94 | +256.5% | — | $382M | — |
| Q2 25 | $1.17 | -$0.85 | -172.6% | — | $0 | — |
| Q1 25 | $0.04 | -$0.66 | -1750.0% | — | $47.1M | — |
| Q4 23 | -$0.51 | $0.5 | +198.0% | — | $0 | — |
| Q3 23 | $0.98 | $0.58 | -40.8% | — | $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 | — | -$0.95 | — | — | $382M | — |
| FY24 | — | -$1.23 | — | — | $340.5M | — |
| FY23 | — | -$1.55 | — | — | $0 | — |
Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.
| Period | FY23 | FY24 | FY25 |
|---|---|---|---|
| Revenue | $0 | $340.5M | $382M |
| YoY change | — | +InfinityT% | +12.2% |
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 | Q2 25 | Q4 25 | Q1 26 | Q2 26 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 |
Revenue, gross profit, operating income, and net income per period.
Click a row to chart it; unreported figures show a dash.
| Period | FY23 | FY24 | FY25 |
|---|---|---|---|
| Revenue | 0 | 340.5M | 382M |
| Cost of revenue | 0 | 293.2M | 308.4M |
| Gross profit | 0 | 47.3M | 73.5M |
| Gross margin | — | 13.9% | 19.2% |
| Research & development | — | — | — |
| Selling, general & administrative | 11M | 69M | 99.1M |
| Operating expenses | 11M | 69M | 99.1M |
| Operating income | -11M | -49.2M | -51.7M |
| Operating margin | — | -14.5% | -13.5% |
| Non-operating income, net | -159M | -65.8M | -19M |
| Pretax income | -180M | -144.1M | -100.2M |
| Income tax | -38M | -30M | -13.1M |
| Net income | -142M | -114.1M | -87.1M |
| Net margin | — | -33.5% | -22.8% |
| EBITDA | -17M | 214.6M | 102.9M |
| EPS | -1.55 | -1.23 | -0.95 |
| Diluted EPS | -1.55 | -1.23 | -0.95 |
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 | Q4 25 | Q1 26 | Q2 26 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 47.1M | 0 | 382M | 63.6M | 147.1M |
| Cost of revenue | 0 | 0 | 0 | 0 | 0 | 0 | 41.5M | 0 | 308.4M | 51.7M | 116.8M |
| Gross profit | 0 | 0 | 0 | 0 | 0 | 0 | 5.5M | 0 | 73.5M | 12M | 30.3M |
| Gross margin | — | — | — | — | — | — | 11.7% | — | 19.2% | 18.8% | 20.6% |
| Research & development | — | — | — | — | — | — | — | — | — | — | — |
| Selling, general & administrative | 5M | 6M | 2M | 2M | 3M | 4M | 16.3M | 7M | 79.1M | 22.1M | 24.7M |
| Operating expenses | 5M | 6M | 2M | 2M | 3M | 4M | 16.3M | 7M | 79.1M | 22.1M | 24.7M |
| Operating income | -5M | -6M | -2M | -2M | -3M | -4M | -17.3M | -7M | -31.7M | -16.7M | -944K |
| Operating margin | — | — | — | — | — | — | -36.7% | — | -8.31% | -26.2% | -0.64% |
| Non-operating income, net | -17M | -142M | -84M | 179M | 31M | -127M | -12.6M | -212M | 254M | -351.4M | -334.4M |
| Pretax income | -24M | -156M | -93M | 170M | 20M | -138M | -37.2M | -227M | 214.8M | -375.6M | -342.8M |
| Income tax | -5M | -33M | -20M | 36M | 5M | -29M | -7.7M | -49M | 53.9M | -81.5M | -74.1M |
| Net income | -19M | -123M | -73M | 134M | 15M | -109M | -29.5M | -178M | 160.9M | -294.1M | -268.7M |
| Net margin | — | — | — | — | — | — | -62.6% | — | 42.1% | -462.3% | -182.7% |
| EBITDA | 50M | -69M | -17M | 89M | 122M | 57M | -9.7M | 70M | -87.1M | -135.6M | 89.5M |
| EPS | -0.21 | — | -0.79 | 1.46 | 0.16 | — | -0.18 | -1.94 | — | -3.2 | -2.92 |
| Diluted EPS | -0.21 | — | -0.79 | 1.46 | 0.16 | — | -0.18 | -1.94 | — | -3.2 | -2.92 |
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 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|
| Market cap | 3.4B | 6.1B | 7.5B | 8.9B |
| Enterprise value | 4.4B | 7.6B | 9.1B | 10.5B |
| Shares outstanding | 91.7M | 91.7M | 91.5M | 91.5M |
| Metric | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|
| P/E | — | — | — | 312.9 |
| P/S | — | 17.9 | 19.5 | 21.8 |
| P/B | -20.3 | -34.5 | -275 | -14.8 |
| EV/EBITDA | -256.7 | 35.4 | 88.3 | -448.7 |
| EV/Sales | — | 22.3 | 23.8 | 25.8 |
| Earnings yield | — | — | — | 0.32% |
| FCF yield | -0.39% | -0.41% | -0.39% | 2.48% |
| PEG | — | — | — | 0.21 |
| Metric | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|
| Gross margin | — | 13.9% | 19.2% | 20.6% |
| Operating margin | — | -14.5% | -13.5% | -0.64% |
| Net margin | — | -33.5% | -22.8% | -108.1% |
| ROE | 86.1% | 64.4% | 321.1% | 320.5% |
| ROA | -12.2% | -7.2% | -4.61% | -1.65% |
| ROIC | -1.3% | -3.75% | -3.23% | -5.64% |
| Return on tangible assets | -12.2% | -10.9% | -6.24% | -37.7% |
| Metric | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|
| Current ratio | 3.81 | 2.52 | 0.33 | 0.25 |
| Quick ratio | 3.81 | 2.52 | 0.33 | 0.25 |
| Debt / equity | -7.98 | -8.79 | -61.4 | -0.04 |
| Debt / assets | 1.13 | 0.98 | 0.88 | 1.06 |
| Net debt / EBITDA | -59.5 | 6.94 | 15.8 | -25.4 |
| Interest coverage | -17 | -3.95 | -2.39 | -22.9 |
| Effective tax rate | 0% | 0% | 0% | 0% |
| Metric | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|
| Revenue per share | 0 | 3.71 | 4.17 | 4.43 |
| EPS (basic) | -1.55 | -1.23 | -0.95 | -0.95 |
| EPS (diluted) | -1.55 | -1.23 | -0.95 | -4.79 |
| Book value per share | -1.8 | -1.93 | -0.3 | -6.8 |
| FCF per share | -0.14 | -0.28 | -0.32 | -0.06 |
| Cash per share | 3.33 | 0.73 | 0.42 | 5.69 |
| Metric | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|
| Payout ratio | — | — | — | 0% |
| $0 |
| $0 |
| $47.1M |
| $0 |
| $382M |
| $63.6M |
| $147.1M |
| YoY change | — | — | — | — | 0% | 0% | +InfinityT% | 0% | +InfinityT% | +35.2% | +InfinityT% |
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 | FY23 | FY24 | FY25 |
|---|---|---|---|
| Cash & short-term investments | 305M | 67.3M | 38.1M |
| Receivables | 0 | 20.1M | 30.4M |
| Inventory | — | — | — |
| Total current assets | 305M | 472.4M | 629.5M |
| Property, plant & equipment | 0 | 0 | — |
| Goodwill & intangibles | 0 | 534.6M | 491.9M |
| Total assets | 1.2B | 1.6B | 1.9B |
| Accounts payable | 2M | 16.3M | 11.5M |
| Short-term debt | 70M | — | 1.7B |
| Total current liabilities | 80M | 187.5M | 1.9B |
| Long-term debt | 1.2B | 1.6B | — |
| Total liabilities | 1.3B | 1.8B | 1.9B |
| Shareholders' equity | -165M | -177.1M | -27.1M |
| Total debt | 1.3B | 1.6B | 1.7B |
| Net debt | 1B | 1.5B | 1.6B |
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 | Q4 25 | Q1 26 | Q2 26 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & short-term investments | 315M | 305M | 298M | 406M | 388M | 67.3M | 314M | 308M | 38.1M | 524.4M | 523.3M |
| Receivables | 0 | 0 | 0 | 0 | 0 | 20.1M | 1M | 1M | 30.4M | 31.2M | 36.3M |
| Inventory | — | — | — | — | — | — | — | — | — | — | — |
| Total current assets | 315M | 305M | 298M | 406M | 388M | 472.4M | 315M | 309M | 629.5M | 670.2M | 652.5M |
| Property, plant & equipment | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | — | — | — |
| Goodwill & intangibles | 0 | 0 | 10.8B | 0 | 0 | 534.6M | 0 | 0 | 491.9M | 479.6M | 475.2M |
| Total assets | 1.2B | 1.2B | 989M | 1B | 1.3B | 1.6B | 1.2B | 1.4B | 1.9B | 1.9B | 2B |
| Accounts payable | 2M | 2M | 0 | 0 | 0 | 16.3M | 0 | — | 11.5M | 8.5M | 12.5M |
| Short-term debt | 65M | 70M | 74M | 67M | 55M | — | — | 1.8B | 1.7B | 1.8B | 2.1B |
| Total current liabilities | 69M | 80M | 88M | 73M | 55M | 187.5M | 0 | 1.8B | 1.9B | 2.2B | 2.6B |
| Long-term debt | 1.2B | 1.2B | 1.3B | 1.2B | 1.4B | 1.6B | 1.6B | — | — | — | — |
| Total liabilities | 1.2B | 1.3B | 1.2B | 1.1B | 1.4B | 1.8B | 1.6B | 1.9B | 1.9B | 2.2B | 2.6B |
| Shareholders' equity | -39M | -165M | -259M | -147M | -183M | -177.1M | -352M | -489M | -27.1M | -295.7M | -603.7M |
| Total debt | 1.2B | 1.3B | 1.4B | 1.3B | 1.4B | 1.6B | 1.6B | 1.8B | 1.7B | 1.8B | 2.1B |
| Net debt | 911M | 1B | 1.1B | 897M | 1B | 1.5B | 1.3B | 1.5B | 1.6B | 1.3B | 1.6B |
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 | FY23 | FY24 | FY25 |
|---|---|---|---|
| Net income | -142M | -114.1M | -87.1M |
| Depreciation & amortization | 0 | 27.4M | 26.1M |
| Stock-based compensation | 2M | 11M | 5.5M |
| Change in working capital | -5M | 10M | 9.9M |
| Operating cash flow | -184M | -93.6M | -29.5M |
| Capital expenditure | — | — | — |
| Investing cash flow | 1.1B | -97.5M | -3.5M |
| Dividends paid | — | — | — |
| Share repurchases | — | — | — |
| Financing cash flow | 317M | 227.8M | 167.8M |
| Net change in cash | 1.3B | 36.8M | 134.8M |
| Free cash flow | -13M | -25.2M | -29.5M |
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 | Q4 23 | Q1 24 | Q2 24 | Q3 24 | Q4 24 | Q1 25 | Q2 25 | Q3 25 | Q4 25 | Q1 26 | Q2 26 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Net income | -123M | -73M | 134M | 15M | -109M | -29.5M | -165.5M | -38.2M | 160.9M | -294.1M | -268.7M |
| Depreciation & amortization | 0 | 0 | 0 | 0 | 0 | 7.2M | -7.2M | -13.1M | 26.1M | 7.5M | 5.5M |
| Stock-based compensation | 1M | 1M | 1M | 1M | 1M | 461K | 1.5M | 1.1M | 2.5M | 2.5M | 2.4M |
| Change in working capital | 5M | -3M | 5M | -2M | 0 | -53.8M | 90M | 6.5M | -1.9M | 51M | -44.2M |
| Operating cash flow | -149M | -95M | 176M | 19M | -137M | -16.5M | 458K | -1.2M | -1.5M | -8.6M | 3.9M |
| Capital expenditure | — | — | — | — | — | -27M | 27M | — | — | — | — |
| Investing cash flow | -4M | 0 | 107M | -3M | -107M | -233.6M | 232M | 3.3M | -2.1M | 255K | -100K |
| Dividends paid | — | — | — | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — | — | — | — |
| Financing cash flow | 0 | 2M | 0 | -12M | -59M | -12M | 10M | 2.9M | 166.8M | -12.8M | -4.5M |
| Net change in cash | -153M | -93M | 283M | 4M | -303M | -262M | 242.5M | 5M | 163.2M | -21.1M | -646K |
| Free cash flow | -10M | -9M | 2M | -4M | -3M | -16.5M | 458K | -1.2M | -1.5M | -8.6M | 3.9M |