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 % |
|---|---|---|---|---|---|---|
| Q4 25 | -$0.24 | -$0.08 | +66.7% | — | — | — |
| Q3 25 | -$0.29 | -$0.4 | -37.9% | — | — | — |
| Q2 25 | -$0.38 | -$0.37 | +2.6% | — | — | — |
| Q1 25 | -$0.36 | -$0.37 | -2.8% | — | — | — |
| Q4 24 | -$0.47 | -$0.44 | +6.4% | — | — | — |
| Q3 24 | -$0.4 | -$0.52 | -30.0% | — | — | — |
| Q2 24 | -$0.59 | -$0.51 | +13.6% | — | — | — |
| Q1 24 | -$0.56 | -$0.2 | +64.3% | — | — | — |
| Q4 23 | -$0.58 | -$0.51 | +12.1% | — | — | — |
| Q3 23 | -$0.88 | -$0.91 | -3.4% | — | — | — |
| Q2 23 | -$0.8 | -$3.2 | -300.0% | — | — | — |
| Q1 23 | -$1.05 | -$1 | +4.8% | — | — | — |
| Q4 22 | -$1.17 | -$1.3 | -11.1% | — | — | — |
| Q3 22 | -$0.97 | -$1.5 | -54.6% | — | — | — |
| Q2 22 | -$1 | -$0.9 | +10.0% | — | — | — |
| Q1 22 | -$1.15 | -$0.8 | +30.4% | — | — | — |
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 % |
|---|---|---|---|---|---|---|
| FY24 | — | -$1.81 | — | — | $0 | — |
| FY23 | — | -$3.98 | — | — | $0 | — |
| FY22 | — | -$4.8 | — | — | $0 | — |
| FY21 | — | -$4.7 | — | — | $1.5M | — |
Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.
| Period | FY15 | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 | $0 | $1.5M | $1.5M | $0 | $0 | $0 |
| YoY change | 0% | 0% | 0% | 0% | 0% | +InfinityT% | 0% | -100% | 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 | FY15 | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | 0 | 0 | 1.5M | 1.5M | 0 | 0 | 0 |
| Cost of revenue | — | — | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — | — | — | — |
| Research & development | 10.4M | 23.3M | 22.5M | 21.8M | 24.4M | 20.4M | 32.2M | 45M | 73.2M | 57.2M |
| Selling, general & administrative | 1.5M | 4M | 9.8M | 8.9M | 9.1M | 9.6M | 10.8M | 11.8M | 13.8M | 12.8M |
| Operating expenses | 11.9M | 24.2M | 30.6M | 30M | 33.3M | 29.8M | 41.7M | 54.7M | 85.9M | 70.1M |
| Operating income | -11.9M | -24.2M | -30.6M | -30M | -33.3M | -28.3M | -40.2M | -54.7M | -85.9M | -70.1M |
| Operating margin | — | — | — | — | — | -1.9K% | -2.7K% | — | — | — |
| Non-operating income, net | 30K | -226K | 1.2M | 6.4M | 126K | 738K | -379K | -608K | 499K | -42K |
| Pretax income | -12.1M | -25.6M | -29.9M | -23.1M | -32.9M | -27.5M | -40.6M | -54.4M | -81.4M | -67M |
| Income tax | 152K | 0 | -157K | 20K | -3K | -2K | -24K | 147K | 0 | 585K |
| Net income | -12.1M | -25.6M | -29.7M | -23.1M | -32.9M | -27.5M | -40.6M | -54.6M | -81.4M | -67.6M |
| Net margin | — | — | — | — | — | -1.8K% | -2.7K% | — | — | — |
| EBITDA | -11.9M | -24.2M | -30.4M | -29.5M | -33M | -28.2M | -40.2M | -53.8M | -81.4M | -70M |
| EPS | -7.06 | -15 | -32.7 | -16.4 | -14.7 | -6.3 | -4.7 | -4.8 | -3.98 | -1.81 |
| Diluted EPS | -7.06 | -15 | -33.1 | -21.1 | -14.7 | -6.3 | -4.7 | -4.8 | -3.98 | -1.81 |
Revenue, gross profit, operating income, and net income per period.
Click a row to chart it; unreported figures show a dash.
| Period | Q4 22 | Q1 23 | Q2 23 | Q3 23 | Q4 23 | Q1 24 | Q2 24 | Q3 24 | Q4 24 | Q1 25 | Q2 25 | Q3 25 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cost of revenue | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — | — | — | — | — | — |
| Research & development | 11M | 38.9M | 11.1M | 11.5M | 11.7M | 11.3M | 17.9M | 14.9M | 13.1M | 12.9M | 10.5M | 1.2M |
| Selling, general & administrative | 2.9M | 3.8M | 3.6M | 3.3M | 3.1M | 3.5M | 3.4M | 2.9M | 3M | 3M | 1.8M | 1.9M |
| Operating expenses | 13.2M | 42.5M | 14.4M | 14.3M | 14.8M | 14.6M | 21M | 18.4M | 16.1M | 15.9M | 12.4M | 3.2M |
| Operating income | -13.2M | -42.5M | -14.4M | -14.3M | -14.8M | -14.6M | -21M | -18.4M | -16.1M | -15.9M | -12.4M | -3.2M |
| Operating margin | — | — | — | — | — | — | — | — | — | — | — | — |
| Non-operating income, net | 697K | -257K | -183K | -501K | 1.4M | -16K | 6K | -8K | -24K | -4K | -4.5M | 8K |
| Pretax income | -12M | -41.9M | -13.4M | -13.7M | -12.5M | -13.8M | -20.1M | -17.5M | -15.6M | -15.4M | -16.6M | -3.1M |
| Income tax | — | — | — | 0 | — | — | — | 708K | -123K | — | — | 202K |
| Net income | -12.1M | -41.9M | -13.4M | -13.7M | -12.5M | -13.8M | -20.1M | -18.2M | -15.4M | -15.4M | -16.6M | -3.3M |
| Net margin | — | — | — | — | — | — | — | — | — | — | — | — |
| EBITDA | -12.6M | -42.2M | -14.2M | -13.8M | -13.4M | -14.6M | -21M | -18.3M | -16.1M | -15.4M | -12.1M | -3.1M |
| EPS | -1.1 | -3.2 | -0.91 | -0.51 | — | -0.51 | -0.52 | -0.44 | -0.37 | -0.37 | -0.4 | -0.08 |
| Diluted EPS | -1.1 | -3.2 | -0.91 | -0.51 | — | -0.51 | -0.52 | -0.44 | -0.37 | -0.37 | -0.4 | -0.08 |
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 | FY15 | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | Current |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market cap | — | — | — | — | — | — | — | — | — | — | 233.4M |
| Enterprise value | — | — | — | — | — | — | — | — | — | — | 66.9M |
| Shares outstanding | 1.7M | 939.2K | 916.2K | 1.4M | 2.3M | 5.9M | 8.6M | 11.3M | 20.4M | 37.6M | 37.6M |
| Metric | FY15 | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | Current |
|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E | — | — | — | — | — | — | — | — | — | — | -2.28 |
| P/B | — | — | — | — | — | — | — | — | — | — | 2.24 |
| EV/EBITDA | — | — | — | — | — | — | — | — | — | — | -1.07 |
| Earnings yield | — | — | — | — | — | — | — | — | — | — | -43.9% |
| FCF yield | — | — | — | — | — | — | — | — | — | — | -14.7% |
| PEG | — | — | — | — | — | — | — | — | — | — | 0.03 |
| Metric | FY15 | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | Current |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating margin | — | — | — | — | — | -1.9K% | -2.7K% | — | — | — | 0% |
| Net margin | — | — | — | — | — | -1.8K% | -2.7K% | — | — | — | 0% |
| ROE | 17.1% | 25.6% | -267.4% | -252.2% | 1.9K% | -59% | -37.6% | -92.7% | -135.4% | -192.7% | -183.7% |
| ROA | -956.3% | -397% | -102.3% | -121.3% | -441.7% | -50.6% | -34.4% | -77.6% | -111.8% | -137.5% | -77.2% |
| ROIC | 16.1% | 34.2% | 209.6% | 421.9% | 722.1% | 581.5% | 612.8% | 918.6% | 839.3% | 587% | 587% |
| Return on tangible assets | -956.3% | -397% | -102.3% | -121.3% | -441.7% | -50.6% | -34.4% | -77.6% | -111.8% | -137.5% | -445.8% |
| Metric | FY15 | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | Current |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current ratio | 0.09 | 0.11 | 4.55 | 2.69 | 0.5 | 7.09 | 11.7 | 6.05 | 5.64 | 3.41 | 1.34 |
| Quick ratio | 0.09 | 0.11 | 4.55 | 2.69 | 0.5 | 7.09 | 11.7 | 6.05 | 5.64 | 3.41 | 1.21 |
| Debt / equity | -0.04 | -0.3 | 0 | 0 | -0.59 | 0.01 | 0 | 0.01 | 0 | 0.01 | 0.01 |
| Debt / assets | 2.49 | 4.69 | 0 | 0 | 0.14 | 0.01 | 0 | 0.01 | 0 | 0.01 | 0 |
| Net debt / EBITDA | 0.32 | -1.22 | 0.85 | 0.55 | 0.09 | 1.83 | 2.85 | 1.21 | 0.86 | 0.67 | 0.21 |
| Interest coverage | -92.4 | -19.8 | -45 | -1.2K | -1.4K | -704.5 | -989.5 | -1K | — | — | — |
| Effective tax rate | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Metric | FY15 | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | Current |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue per share | 0 | 0 | 0 | 0 | 0 | 0.25 | 0.17 | 0 | 0 | 0 | 0 |
| EPS (basic) | -7.06 | -15 | -32.7 | -16.4 | -14.7 | -6.3 | -4.7 | -4.8 | -3.98 | -1.81 | -1.81 |
| EPS (diluted) | -7.06 | -15 | -33.1 | -21.1 | -14.7 | -6.3 | -4.7 | -4.8 | -3.98 | -1.81 | -1.58 |
| Book value per share | -41.2 | -106.7 | 12.1 | 6.49 | -0.77 | 7.86 | 12.6 | 5.2 | 2.94 | 0.93 | 0.91 |
| FCF per share | -4.75 | -27.1 | -24.2 | -18.4 | -12 | -4.38 | -4.1 | -4.33 | -2.14 | -1.61 | -1.27 |
| Cash per share | 4.11 | 0.84 | 28.1 | 11.5 | 1.72 | 8.78 | 13.4 | 5.78 | 3.46 | 1.26 | 0.44 |
| Capex per share | 0 | 0.15 | 0.07 | 0 | 0.04 | 0 | 0 | — | — | — | — |
| Metric | FY15 | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | Current |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Capex / revenue | — | — | — | — | — | 1.67% | 0% | — | — | — | — |
| Capex / operating cash flow | 0% | -0.53% | -0.28% | 0% | -0.3% | -0.11% | 0% | — | — | — | — |
| Payout ratio | — | — | — | — | — | — | — | — | — | — | 0% |
| FY20 |
| — |
| -$6.3 |
| — |
| — |
| $1.5M |
| — |
| FY19 | — | -$14.7 | — | — | $0 | — |
| FY18 | — | -$16.4 | — | — | $0 | — |
| FY17 | — | -$32.7 | — | — | $0 | — |
| FY16 | — | -$15 | — | — | $0 | — |
| FY15 | — | -$7.06 | — | — | $0 | — |
| Period | Q4 22 | Q1 23 | Q2 23 | Q3 23 | Q4 23 | Q1 24 | Q2 24 | Q3 24 | Q4 24 | Q1 25 | Q2 25 | Q3 25 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| YoY change | -100% | 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 | FY15 | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & short-term investments | 7M | 793K | 25.7M | 16.3M | 3.9M | 52.1M | 114.9M | 65.5M | 70.6M | 47.2M |
| Receivables | 0 | 3.1M | 1.7M | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — | — | — | — |
| Total current assets | 494K | 4M | 27.7M | 17.3M | 4.2M | 52.3M | 116.9M | 68M | 71.6M | 48M |
| Property, plant & equipment | 232K | 119K | 135K | 86K | 1.1M | 593K | 495K | 689K | 262K | 262K |
| Goodwill & intangibles | 0 | — | — | — | — | — | — | — | — | — |
| Total assets | 1.3M | 6.5M | 29.1M | 19.1M | 7.4M | 54.4M | 117.9M | 70.4M | 72.8M | 49.1M |
| Accounts payable | 2M | 3.2M | 2.6M | 3.6M | 4.6M | 2.7M | 4.2M | 5.7M | 6.5M | 4.7M |
| Short-term debt | 3.1M | 30.3M | 0 | — | 474K | 408K | 432K | 416K | 262K | 266K |
| Total current liabilities | 5.7M | 36.2M | 6.1M | 6.5M | 8.5M | 7.4M | 10M | 11.2M | 12.7M | 14.1M |
| Long-term debt | — | — | — | 0 | 552K | 144K | 37K | 262K | 0 | — |
| Total liabilities | 71.5M | 106.7M | 17.9M | 9.9M | 9.2M | 7.7M | 10M | 11.5M | 12.7M | 14.1M |
| Shareholders' equity | -70.3M | -100.2M | 11.1M | 9.2M | -1.7M | 46.7M | 107.9M | 58.9M | 60.1M | 35M |
| Total debt | 3.1M | 30.3M | 0 | 0 | 1M | 552K | 469K | 678K | 262K | 266K |
| Net debt | 2.7M | 29.5M | -25.7M | -16.3M | -2.9M | -51.5M | -114.4M | -64.8M | -70.4M | -47M |
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 | Q1 23 | Q2 23 | Q3 23 | Q4 23 | Q1 24 | Q2 24 | Q3 24 | Q4 24 | Q1 25 | Q2 25 | Q3 25 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & short-term investments | 65.5M | 102M | 91.4M | 80.7M | 70.6M | 54.9M | 78.5M | 62.8M | 47.2M | 32.7M | 18.1M | 9.7M |
| Receivables | — | — | — | — | — | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current assets | 68M | 104.7M | 93.9M | 81.8M | 71.6M | 56.2M | 79.6M | 63.8M | 48M | 33.9M | 19.2M | 10.5M |
| Property, plant & equipment | 689K | 585K | 480K | 372K | 262K | 577K | 475K | 370K | 262K | 152K | 38K | 38K |
| Goodwill & intangibles | — | — | — | — | — | — | — | — | — | — | — | — |
| Total assets | 70.4M | 106.5M | 95.9M | 83M | 72.8M | 58M | 81.4M | 65M | 49.1M | 34.9M | 20M | 11.4M |
| Accounts payable | 5.7M | 5.5M | 6.5M | 5.9M | 6.5M | 6M | 7.8M | 5.9M | 4.7M | 6.4M | 7.3M | 4.3M |
| Short-term debt | 416K | 425K | 436K | 369K | 262K | 430K | 443K | 376K | 266K | 154K | 39K | 38K |
| Total current liabilities | 11.2M | 10.3M | 11.8M | 11M | 12.7M | 10.4M | 15.6M | 16.1M | 14.1M | 14M | 14.3M | 8.7M |
| Long-term debt | 262K | 152K | 38K | 0 | 0 | 154K | 39K | — | — | — | — | — |
| Total liabilities | 11.5M | 78.2M | 11.8M | 11M | 12.7M | 10.6M | 15.6M | 16.1M | 14.1M | 14M | 14.3M | 8.7M |
| Shareholders' equity | 58.9M | 28.3M | 84.1M | 72M | 60.1M | 47.4M | 65.8M | 49M | 35M | 20.8M | 5.7M | 2.7M |
| Total debt | 678K | 577K | 474K | 369K | 262K | 584K | 482K | 376K | 266K | 154K | 39K | 38K |
| Net debt | -64.8M | -101.5M | -90.9M | -80.4M | -70.4M | -54.3M | -78M | -62.4M | -47M | -32.6M | -18.1M | -9.6M |
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 | FY15 | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net income | -12.1M | -25.6M | -29.7M | -23.1M | -32.9M | -27.5M | -40.6M | -54.6M | -81.4M | -67.6M |
| Depreciation & amortization | 0 | 25K | 48K | 49K | 47K | 34K | 29K | 16K | 15K | 5K |
| Stock-based compensation | 50K | 45K | 5.6M | 3.5M | 3.9M | 2.6M | 3.5M | 5.2M | 5.1M | 5.5M |
| Change in working capital | 0 | -3.1M | 1.3M | 800K | -55K | 837K | -2.2M | -2M | 1.6M | 628K |
| Operating cash flow | -9M | -27.4M | -22.7M | -18.8M | -28.3M | -23.4M | -38.8M | -51M | -44.6M | -61M |
| Capital expenditure | 0 | -144K | -64K | 0 | -85K | 25K | 0 | — | — | — |
| Investing cash flow | 29.7M | -144K | -64K | 0 | -85K | 25K | 0 | 0 | 49M | 0 |
| Dividends paid | — | — | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | 0 | -1K | 0 |
| Financing cash flow | 7.7M | 51.5M | 48.5M | 14.7M | 14.8M | 73.6M | 97M | -210K | -1K | 37.1M |
| Net change in cash | 28.3M | 24M | 25.8M | -4.1M | -13.6M | 50.2M | 58.2M | -51.2M | 4.3M | -24M |
| Free cash flow | -8.1M | -25.5M | -22.2M | -26M | -27M | -26M | -35.2M | -49M | -43.8M | -60.3M |
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 | Q4 22 | Q1 23 | Q2 23 | Q3 23 | Q4 23 | Q1 24 | Q2 24 | Q3 24 | Q4 24 | Q1 25 | Q2 25 | Q3 25 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net income | -12.1M | -41.9M | -13.4M | -13.7M | -12.5M | -13.8M | -20.1M | -18.2M | -15.4M | -15.4M | -16.6M | -3.3M |
| Depreciation & amortization | 4K | 4K | 4K | 3K | 4K | 5K | 0 | 0 | 0 | 0 | 0 | 0 |
| Stock-based compensation | 1.5M | 1.3M | 1.3M | 1.3M | 1.3M | 1.2M | 1.4M | 1.3M | 1.5M | 1.2M | 1.5M | 303K |
| Change in working capital | -737K | 345K | -142K | 1.9M | -137K | -336K | -54K | 578K | -2M | -518K | 867K | -6.3M |
| Operating cash flow | -11.3M | -10.5M | -12.4M | -10.5M | -11.2M | -12.8M | -18.8M | -16.3M | -15.9M | -14.6M | -14.2M | -9.3M |
| Capital expenditure | — | — | — | — | — | — | — | — | — | — | — | — |
| Investing cash flow | — | 49.3M | -348K | 0 | 0 | 0 | 0 | 0 | 0 | — | — | — |
| Dividends paid | — | — | — | — | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — | 0 | — | — | — |
| Financing cash flow | 0 | — | — | 0 | — | — | — | -66K | 0 | -77K | -119K | -121K |
| Net change in cash | -11.3M | 38.8M | -12.7M | -10.5M | -11.2M | -12.8M | -18.8M | -16.3M | -15.9M | -14.7M | -14.3M | -9.4M |
| Free cash flow | -13M | -12.7M | -10.2M | -10.5M | -10.4M | -15.5M | -13.7M | -15.6M | -15.5M | -14.5M | -14.5M | -8.3M |