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 | -$0.28 | -$0.3 | -7.1% | — | $0 | — |
| Q1 26 | -$0.3 | -$0.25 | +16.7% | — | $0 | — |
| Q4 25 | -$0.3 | -$0.27 | +10.0% | — | $0 | — |
| Q2 25 | -$0.66 | -$0.68 | -3.0% | — | $0 | — |
| Q1 25 | -$0.77 | -$0.99 | -28.6% | — | $0 | — |
| Q4 24 | -$0.78 | -$0.78 | 0.0% | — | $0 | — |
| Q3 24 | -$0.67 | -$0.89 | -32.8% | — | $0 | — |
| Q2 24 | -$0.69 | -$0.64 | +7.2% | — | $0 | — |
| Q1 24 | -$0.79 | -$0.77 | +2.5% | — | $0 | — |
| Q4 23 | -$0.73 | -$0.85 | -16.4% | — | $0 | — |
| Q3 23 | -$3.02 | -$1.2 | +60.3% | — | $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 | — | -$1.86 | — | — | $0 | — |
| FY24 | — | -$3.09 | — | — | $0 | — |
| FY23 | — | -$12.4 | — | — | $0 | — |
| FY22 | — | -$2.36 | — | — | $654K | — |
| FY21 | — | -$2.01 | — |
Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.
| Period | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|
| Revenue | $518.5K | $1.7M | $654K | $0 | $0 | $0 |
| YoY change | — | +219.6% | -60.5% | -100% | 0% | 0% |
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 |
|---|
Revenue, gross profit, operating income, and net income per period.
Click a row to chart it; unreported figures show a dash.
| Period | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|
| Revenue | 518.5K | 1.7M | 654K | 0 | 0 | 0 |
| Cost of revenue | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — |
| Research & development | 4.3M | 45.1M | 49.2M | 53.1M | 74.1M | 63.8M |
| Selling, general & administrative | 787.5K | 7.2M | 12M | 15.4M | 31.7M | 45.5M |
| Operating expenses | 5.1M | 52.3M | 61.2M | 68.5M | 105.8M | 109.3M |
| Operating income | -4.6M | -50.6M | -60.5M | -68.5M | -105.8M | -109.3M |
| Operating margin | -884.9% | -3.1K% | -9.3K% | — | — | — |
| Non-operating income, net | -417.9K | -155 | -2K | -543K | -9K | 3.4M |
| Pretax income | -5.2M | -50.6M | -59.3M | -66.4M | -98.3M | -100M |
| Income tax | 0 | 0 | 0 | 0 | 0 | 0 |
| Net income | -5.2M | -50.6M | -59.3M | -66.4M | -98.3M | -100M |
| Net margin | -993.8% | -3.1K% | -9.1K% | — | — | — |
| EBITDA | -4.2M | -50.6M | -58M | -63.8M | -96.2M | -101.1M |
| EPS | -0.2 | -2.01 | -2.36 | -12.4 | -3.09 | -1.86 |
| Diluted EPS | -0.2 | -2.01 | -2.36 | -12.4 | -3.09 | -1.86 |
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 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cost of revenue | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — | — | — | — | — | — |
| Research & development | 17.2M | 8.2M | 15.7M | 16.6M | 23.4M | 18.4M | 17.2M | 14.7M | 15.7M | 16.2M | 15.7M | 19M |
| Selling, general & administrative | 3M | 6.8M | 7.5M | 7M | 8.1M | 9M | 16.6M | 16M | 6M | 6.9M | 6.6M | 9M |
| Operating expenses | 20.3M | 15M | 23.3M | 23.6M | 31.5M | 27.4M | 33.8M | 30.7M | 21.6M | 23.1M | 22.3M | 28M |
| Operating income | -20.3M | -15M | -23.3M | -23.6M | -31.5M | -27.4M | -33.8M | -30.7M | -21.6M | -23.1M | -22.3M | -28M |
| Operating margin | — | — | — | — | — | — | — | — | — | — | — | — |
| Non-operating income, net | -271K | -265K | -5K | -1K | -3K | 0 | -4K | 3.4M | -9K | 9K | -1K | -6K |
| Pretax income | -20.1M | -14.2M | -21.7M | -21.2M | -29.5M | -25.9M | -32.7M | -26.1M | -20.3M | -20.9M | -20.2M | -25.9M |
| Income tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net income | -20.1M | -14.2M | -21.7M | -21.2M | -29.5M | -25.9M | -32.7M | -26.1M | -20.3M | -20.9M | -20.2M | -25.9M |
| Net margin | — | — | — | — | — | — | — | — | — | — | — | — |
| EBITDA | -19.3M | -13.4M | -21.2M | -20.7M | -28.9M | -25.4M | -32.1M | -28.9M | -19.7M | -20.4M | -19.6M | -25.3M |
| EPS | -0.8 | — | -0.77 | -0.64 | -0.89 | — | -0.99 | -0.6 | -0.33 | -0.27 | -0.25 | -0.3 |
| Diluted EPS | -0.8 | — | -0.77 | -0.64 | -0.89 | — | -0.99 | -0.6 | -0.33 | -0.27 | -0.25 | -0.3 |
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 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| Market cap | — | — | — | — | — | — | 257.8M |
| Enterprise value | — | — | — | — | — | — | 66.7M |
| Shares outstanding | 25.2M | 25.2M | 25.2M | 5.4M | 31.8M | 53.6M | 53.6M |
| Metric | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| P/E | — | — | — | — | — | — | -1.7 |
| P/B | — | — | — | — | — | — | 1.11 |
| EV/EBITDA | — | — | — | — | — | — | -0.7 |
| Earnings yield | — | — | — | — | — | — | -59% |
| FCF yield | — | — | — | — | — | — | -22.8% |
| PEG | — | — | — | — | — | — | 0.03 |
| Metric | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| Operating margin | -884.9% | -3.1K% | -9.3K% | — | — | — | 0% |
| Net margin | -993.8% | -3.1K% | -9.1K% | — | — | — | 0% |
| ROE | 93.1% | 91% | 52.5% | -58.5% | -84.2% | -40.5% | -46.8% |
| ROA | -17.5% | -37% | -61.1% | -47.5% | -66.9% | -37.2% | -27.6% |
| ROIC | 13.1% | 26.4% | 34.2% | -1.8K% | -2K% | -150.1% | -315.3% |
| Return on tangible assets | -17.5% | -37% | -61.1% | -47.5% | -66.9% | -37.2% | -34.2% |
| Metric | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| Current ratio | 42.1 | 18.3 | 5.58 | 7.21 | 5.52 | 11.2 | 13.9 |
| Quick ratio | 42.1 | 18.3 | 5.58 | 7.21 | 5.52 | 11.2 | 13.9 |
| Debt / equity | — | 0 | -0.12 | 0.1 | 0.08 | 0.03 | 0.03 |
| Debt / assets | — | 0 | 0.14 | 0.08 | 0.07 | 0.03 | 0.03 |
| Net debt / EBITDA | — | 2.68 | 1.1 | 1.72 | 1.16 | 1.72 | 2.41 |
| Interest coverage | -31.2 | — | -650.4 | -322.9 | -716.8 | -484.2 | -547.8 |
| Effective tax rate | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Metric | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| Revenue per share | 0.02 | 0.07 | 0.03 | 0 | 0 | 0 | 0 |
| EPS (basic) | -0.2 | -2.01 | -2.36 | -12.4 | -3.09 | -1.86 | -1.86 |
| EPS (diluted) | -0.2 | -2.01 | -2.36 | -12.4 | -3.09 | -1.86 | -0.88 |
| Book value per share | -0.22 | -2.21 | -4.49 | 21.2 | 3.68 | 4.6 | 2.99 |
| FCF per share | -0.12 | -1.76 | -2.2 | -11.1 | -2.57 | -1.84 | -1.04 |
| Cash per share | 1.17 | 5.4 | 3.07 | 22.7 | 3.82 | 3.39 | 2.58 |
| Capex per share | 0 | 0.01 | 0.03 | 0.02 | 0.02 | — | — |
| Metric | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| Capex / revenue | 0% | 11.3% | 102.8% | — | — | — | — |
| Capex / operating cash flow | 0% | -0.4% | -1.18% | -0.18% | -0.58% | — | — |
| Payout ratio | — | — | — | — | — | — | 0% |
| — |
| $1.7M |
| — |
| FY20 | — | -$0.2 | — | — | $518.5K | — |
| Q1 25 |
|---|
| Q2 25 |
|---|
| Q3 25 |
|---|
| Q4 25 |
|---|
| Q1 26 |
|---|
| Q2 26 |
|---|
| 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 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|
| Cash & short-term investments | 29.4M | 135.9M | 77.3M | 121.5M | 121.5M | 181.8M |
| Receivables | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — |
| Total current assets | 29.4M | 136.7M | 80M | 124.3M | 126.1M | 188.4M |
| Property, plant & equipment | — | 174K | 13.8M | 12.3M | 10.6M | 8.9M |
| Goodwill & intangibles | — | — | — | — | — | — |
| Total assets | 29.4M | 136.9M | 97.1M | 139.8M | 146.9M | 268.7M |
| Accounts payable | 44.3K | 3.1M | 2.7M | 3.8M | 6.4M | 4.9M |
| Short-term debt | — | — | 2.8M | 2.6M | 2.7M | 2.7M |
| Total current liabilities | 697.7K | 7.4M | 14.3M | 17.2M | 22.8M | 16.8M |
| Long-term debt | — | 0 | 10.6M | 9M | 7.3M | 5.2M |
| Total liabilities | 34.9M | 192.5M | 210M | 26.3M | 30.1M | 22M |
| Shareholders' equity | -5.5M | -55.6M | -113M | 113.5M | 116.8M | 246.7M |
| Total debt | — | 0 | 13.5M | 11.6M | 9.9M | 7.9M |
| Net debt | — | -135.9M | -63.9M | -109.8M | -25.1M | -55.1M |
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 | 35.4M | 121.5M | 195.1M | 175M | 157M | 121.5M | 99.8M | 132.9M | 122.8M | 181.8M | 193M | 211.7M |
| Receivables | — | — | — | — | — | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current assets | 38.9M | 124.3M | 198.1M | 177.1M | 159.5M | 126.1M | 105.3M | 140.1M | 127.8M | 188.4M | 200.9M | 217.9M |
| Property, plant & equipment | 12.6M | 12.3M | 11.9M | 11.6M | 2.7M | 10.6M | 10.1M | 9.8M | 9.4M | 8.9M | 8.3M | 7.9M |
| Goodwill & intangibles | — | — | — | — | — | — | — | — | — | — | — | — |
| Total assets | 54.7M | 139.8M | 213.2M | 192M | 173.9M | 146.9M | 125.7M | 176.1M | 143.8M | 268.7M | 250.4M | 254.9M |
| Accounts payable | 2.7M | 3.8M | 4.3M | 5.8M | 8.4M | 6.4M | 12M | 20M | 4.7M | 4.9M | 3.3M | 4.2M |
| Short-term debt | 6.7M | 2.6M | 2.6M | 2.7M | 2.7M | 2.7M | 2.6M | 2.7M | 2.7M | 2.7M | 2.7M | 2.7M |
| Total current liabilities | 23M | 17.2M | 21.6M | 18.9M | 26.8M | 22.8M | 30.8M | 31.6M | 17.3M | 16.8M | 14.2M | 15.7M |
| Long-term debt | 9.5M | 9M | 8.6M | 8.2M | 7.7M | 7.3M | 6.8M | 6.3M | 5.7M | 5.2M | 4.7M | 4.1M |
| Total liabilities | 217.5M | 26.3M | 30.3M | 27.1M | 34.5M | 30.1M | 37.6M | 37.9M | 23M | 22M | 18.9M | 19.8M |
| Shareholders' equity | -162.8M | 113.5M | 182.9M | 164.9M | 139.3M | 116.8M | 88.1M | 138.2M | 120.8M | 246.7M | 231.5M | 235.1M |
| Total debt | 16.2M | 11.6M | 11.2M | 10.9M | 10.4M | 9.9M | 9.4M | 8.9M | 8.5M | 7.9M | 7.4M | 6.8M |
| Net debt | -19.2M | -109.8M | -183.8M | -164.1M | -146.6M | -25.1M | -19.5M | -26.6M | -32.5M | -55.1M | -64.4M | -86M |
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 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|
| Net income | -5.2M | -50.6M | -59.3M | -66.4M | -98.3M | -100M |
| Depreciation & amortization | 0 | 13K | 1.1M | 1.8M | 2M | 2.1M |
| Stock-based compensation | 0 | 386K | 1.8M | 3M | 12.5M | 12.1M |
| Change in working capital | 55.8K | 2.9M | -776K | -1.6M | 1.1M | -3.1M |
| Operating cash flow | -3.6M | -47.3M | -57.1M | -62.6M | -82.8M | -98.6M |
| Capital expenditure | 0 | -188K | -672K | -115K | -481K | — |
| Investing cash flow | 0 | -188K | -672K | -115K | -94.1M | -89.9M |
| Dividends paid | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | -17K | 0 |
| Financing cash flow | 32.4M | 150.7M | -143K | 103.7M | 88.3M | 216.7M |
| Net change in cash | 28.7M | 103.2M | -57.9M | 41M | -88.6M | 28.3M |
| Free cash flow | -3.1M | -44.4M | -55.5M | -59.7M | -81.6M | -99M |
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 | -20.1M | -14.2M | -21.7M | -21.2M | -29.5M | -25.9M | -32.7M | -26.1M | -20.3M | -20.9M | -20.2M | -25.9M |
| Depreciation & amortization | 460K | 490K | 476K | 496K | 509K | 521K | 501K | 510K | 530K | 538K | 546K | 556K |
| Stock-based compensation | 873K | 804K | 2.3M | 2.8M | 3.8M | 3.5M | 3.7M | 3.1M | 2.7M | 2.7M | 2.8M | 5.7M |
| Change in working capital | -200K | 76K | 324K | 749K | 2.4M | -2.4M | 4.8M | 8M | -15.6M | -202K | -2M | 416K |
| Operating cash flow | -19M | -12.6M | -18.6M | -17.1M | -22.8M | -24.3M | -23.7M | -27.2M | -29.5M | -20.1M | -21.1M | -17.6M |
| Capital expenditure | -3K | -73K | -185K | -213K | -83K | 0 | 0 | — | — | — | — | — |
| Investing cash flow | -3K | -73K | -185K | -213K | -83K | 0 | 15.6M | 16.3M | 35.3M | -101.7M | 27.5M | 26.2M |
| Dividends paid | — | — | — | — | — | — | — | — | — | — | — | — |
| Share repurchases | 0 | — | — | — | 0 | -4K | — | — | 0 | 0 | — | — |
| Financing cash flow | -107K | 100.1M | 88.6M | -115K | -6.4M | -120K | 11K | 79.9M | 18K | 143.7M | -3K | 24.1M |
| Net change in cash | -19.1M | 87.4M | 69.9M | -17.5M | -29.3M | -24.4M | -8.1M | 69M | 5.8M | 22M | 6.3M | 32.7M |
| Free cash flow | -14M | -14.1M | -15.1M | -20.4M | -17.9M | -28.3M | -21.7M | -27.3M | -29.8M | -20.1M | -21.2M | -17.6M |