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 % |
|---|---|---|---|---|---|---|
| Q3 25 | -$4.07 | -$3.4 | +16.5% | — | $25K | — |
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 | — | — | — | — | $398K | — |
| FY24 | — | -$71.5 | — | — | $1.5M | — |
| FY23 | — | -$1.26 | — | — | $1.6M | — |
| FY22 | — | -$1.83 | — | — | $1.4M | — |
| FY21 | — | -$3.35 | — | — | $285K | — |
| FY20 | — | -$2.59 | — | — | $0 | — |
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 | $0 | $285K | $1.4M | $1.6M | $1.5M | $398K |
| YoY change | — | +InfinityT% | +378.2% | +14.3% | -1.54% | -74.1% |
Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.
| Period | Q3 24 | Q4 24 | Q1 25 | Q2 25 | Q3 25 | Q4 25 |
|---|---|---|---|---|---|---|
| Revenue | $195K |
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 | 0 | 285K | 1.4M | 1.6M | 1.5M | 398K |
| Cost of revenue | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — |
| Research & development | 12.5M | 29.7M | 38.8M | 48M | 43.8M | 18.4M |
| Selling, general & administrative | 9.7M | 14.2M | 17.6M | 19.1M | 18.5M | 11.5M |
| Operating expenses | 22.2M | 43.9M | 56.4M | 67.1M | 62.3M | 30M |
| Operating income | -22.2M | -43.6M | -55M | -65.5M | -60.7M | -29.6M |
| Operating margin | — | -15.3K% | -4K% | -4.2K% | -4K% | -7.4K% |
| Non-operating income, net | — | — | -1.3M | -1.6M | -35.6M | -488K |
| Pretax income | -22.1M | -43.5M | -55.3M | -62.6M | -93.4M | -28.9M |
| Income tax | — | 0 | 13K | 59K | 39K | 11K |
| Net income | -22.1M | -43.5M | -55.3M | -62.7M | -93.4M | -28.9M |
| Net margin | — | -15.3K% | -4.1K% | -4K% | -6.1K% | -7.3K% |
| EBITDA | -22.1M | -42.6M | -52.6M | -63.7M | -24.6M | -27.6M |
| EPS | -2.59 | -3.35 | -1.83 | -1.26 | -71.5 | — |
| Diluted EPS | -2.59 | -3.35 | -1.83 | -1.26 | -71.5 | — |
Revenue, gross profit, operating income, and net income per period.
Click a row to chart it; unreported figures show a dash.
| Period | Q3 24 | Q4 24 | Q1 25 | Q2 25 | Q3 25 | Q4 25 |
|---|---|---|---|---|---|---|
| Revenue | 195K | 209K | 183K | 183K | 25K | 7K |
| Cost of revenue | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — |
| Research & development | 5.9M | 6.4M | 4.9M | 5.1M | 4M | 4.4M |
| Selling, general & administrative | 3.9M | 3.6M | 3.3M | 3.5M | 2.2M | 2.5M |
| Operating expenses | 9.8M | 10M | 8.1M | 8.6M | 6.3M | 6.9M |
| Operating income | -9.6M | -9.8M | -8M | -8.4M | -6.3M | -6.9M |
| Operating margin | -4.9K% | -4.7K% | -4.3K% | -4.6K% | -25K% | -98.7K% |
| Non-operating income, net | -2.8M | -1.6M | -885K | 583K | 21K | -207K |
| Pretax income | -11.9M | -11M | -8.5M | -7.4M | -6M | -6.9M |
| Income tax | 7K | 6K | 4K | 2K | 3K | 2K |
| Net income | -11.9M | -11M | -8.5M | -7.4M | -6M | -7M |
| Net margin | -6.1K% | -5.3K% | -4.7K% | -4.1K% | -23.9K% | -99.3K% |
| EBITDA | -6.8M | -8M | -6.9M | -7.9M | -6.2M | -6.6M |
| EPS | -9 | — | -6.5 | -5.51 | -3.38 | — |
| Diluted EPS | -9 | — | -6.5 | -5.51 | -3.38 | — |
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 | — | — | — | — | — | — | 1.1M |
| Enterprise value | — | — | — | — | — | — | 15.6M |
| Shares outstanding | 8.6M | 13M | 30.2M | 49.8M | 1.3M | — | — |
| Metric | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| P/S | — | — | — | — | — | — | 2.66 |
| EV/EBITDA | — | — | — | — | — | — | -0.54 |
| EV/Sales | — | — | — | — | — | — | 39.3 |
| FCF yield | — | — | — | — | — | — | -1.6K% |
| PEG | — | — | — | — | — | — | -0.6 |
| Metric | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| Operating margin | — | -15.3K% | -4K% | -4.2K% | -4K% | -7.4K% | -98.7K% |
| Net margin | — | -15.3K% | -4.1K% | -4K% | -6.1K% | -7.3K% | 0% |
| ROE | -29.7% | -126.8% | -68.5% | -70.1% | -805.9% | 269.8% | -6.6K% |
| ROA | -27.4% | -79.3% | -50.3% | -44% | -140.8% | -80.1% | -36.1% |
| ROIC | — | 437.1% | 424.2% | -483.7% | -1.1K% | -809.9% | -809.9% |
| Return on tangible assets | -27.4% | -79.3% | -50.3% | -44% | -140.8% | -80.1% | -80.1% |
| Metric | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| Current ratio | 15.5 | 2.63 | 6.97 | 5.35 | 3.41 | 1.71 | 1.71 |
| Quick ratio | 15.5 | 2.63 | 6.97 | 5.35 | 3.41 | 1.71 | 1.71 |
| Debt / equity | 0.03 | 0.04 | 0.05 | 0.3 | 2.97 | -2.82 | -0.03 |
| Debt / assets | 0.03 | 0.03 | 0.04 | 0.19 | 0.52 | 0.84 | 0.84 |
| Net debt / EBITDA | 3.26 | 1.04 | 1.78 | 1.19 | 0.25 | -0.52 | -0.52 |
| Effective tax rate | — | 0% | 0% | 0% | 0% | 0% | 0% |
| Metric | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| Revenue per share | 0 | 0.02 | 0.05 | 0.03 | 1.18 | — | 0.26 |
| EPS (basic) | -2.59 | -3.35 | -1.83 | -1.26 | -71.5 | — | — |
| EPS (diluted) | -2.59 | -3.35 | -1.83 | -1.26 | -71.5 | — | -18.6 |
| Book value per share | 8.67 | 2.64 | 2.67 | 1.8 | 8.9 | — | -6.04 |
| FCF per share | -2.67 | -2.25 | -1.44 | -1.29 | -55.6 | — | -9.88 |
| Cash per share | 8.68 | 3.52 | 3.24 | 2.06 | 31.2 | — | 8.95 |
| Capex per share | 0.21 | 0.26 | 0.01 | 0.02 | 1.8 | — | — |
| Metric | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| Capex / revenue | — | 1.2K% | 12% | 67.2% | 152.4% | 24.6% | 24.6% |
| Capex / operating cash flow | -8.82% | -12.9% | -0.34% | -1.64% | -2.71% | -0.34% | -0.34% |
| Payout ratio | — | — | — | — | — | — | 0% |
| $209K |
| $183K |
| $183K |
| $25K |
| $7K |
| YoY change | — | — | — | — | -87.2% | -96.7% |
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 | 74.6M | 45.7M | 97.9M | 102.8M | 40.6M | 15.9M |
| Receivables | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — |
| Total current assets | 75.9M | 47.9M | 100.8M | 104.8M | 43M | 16.3M |
| Property, plant & equipment | 4.5M | 5.9M | 4.5M | 35.3M | 21.3M | 17.8M |
| Goodwill & intangibles | — | — | — | — | — | — |
| Total assets | 80.8M | 54.9M | 110M | 142.6M | 66.3M | 36.1M |
| Accounts payable | 922K | 3.1M | 2.6M | 3.1M | 1.2M | 663K |
| Short-term debt | 985K | 1.1M | 3.5M | 5.4M | 4.1M | 4.8M |
| Total current liabilities | 4.9M | 18.2M | 14.5M | 19.6M | 12.6M | 9.5M |
| Long-term debt | 1.5M | 379K | 667K | 21.4M | 30.3M | 25.4M |
| Total liabilities | 6.3M | 20.6M | 29.2M | 53.2M | 54.8M | 46.8M |
| Shareholders' equity | 74.5M | 34.3M | 80.8M | 89.4M | 11.6M | -10.7M |
| Total debt | 2.4M | 1.5M | 4.2M | 26.9M | 34.4M | 30.3M |
| Net debt | -72.2M | -44.3M | -28.4M | 4.5M | -6.2M | 14.4M |
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 | Q3 24 | Q4 24 | Q1 25 | Q2 25 | Q3 25 | Q4 25 |
|---|---|---|---|---|---|---|
| Cash & short-term investments | 51.6M | 40.6M | 31.7M | 29.8M | 22.1M | 15.9M |
| Receivables | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — |
| Total current assets | 54.4M | 43M | 33.9M | 31.1M | 23M | 16.3M |
| Property, plant & equipment | 22.3M | 21.3M | 20.4M | 19.5M | 18.7M | 17.8M |
| Goodwill & intangibles | — | — | — | — | — | — |
| Total assets | 78.8M | 66.3M | 56.3M | 52.6M | 43.7M | 36.1M |
| Accounts payable | 2.3M | 1.2M | 725K | 680K | 627K | 663K |
| Short-term debt | 4M | 4.1M | 4.2M | 4.6M | 4.7M | 4.8M |
| Total current liabilities | 15M | 12.6M | 11.5M | 11.2M | 9.5M | 9.5M |
| Long-term debt | 31.3M | 30.3M | 29.1M | 27.9M | 26.7M | 25.4M |
| Total liabilities | 58.1M | 54.8M | 52.4M | 51M | 48M | 46.8M |
| Shareholders' equity | 20.6M | 11.6M | 3.9M | 1.6M | -4.3M | -10.7M |
| Total debt | 35.3M | 34.4M | 33.4M | 32.5M | 31.4M | 30.3M |
| Net debt | 11.5M | -6.2M | 1.6M | 2.7M | 9.3M | 14.4M |
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 | -22.1M | -43.5M | -55.3M | -62.7M | -93.4M | -28.9M |
| Depreciation & amortization | 95K | 1M | 1.1M | 278K | 471K | 459K |
| Stock-based compensation | 1.8M | 2.8M | 5.4M | 5.9M | 6.7M | 2.3M |
| Change in working capital | 103K | 13.5M | 547K | -7.2M | 9K | -3M |
| Operating cash flow | -20.1M | -26.2M | -48.2M | -63.8M | -86.2M | -29.1M |
| Capital expenditure | -1.8M | -3.4M | -164K | -1M | -2.3M | -98K |
| Investing cash flow | -1.8M | -3.4M | -65M | -12.6M | 80.3M | -98K |
| Dividends paid | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — |
| Financing cash flow | 87.7M | -245K | 96.2M | 65.6M | 8.5M | 4.3M |
| Net change in cash | 65.8M | -29.8M | -17M | -10.8M | 2.6M | -24.9M |
| Free cash flow | -22.9M | -29.2M | -43.5M | -64.4M | -72.3M | -29M |
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 24 | Q4 24 | Q1 25 | Q2 25 | Q3 25 | Q4 25 |
|---|---|---|---|---|---|---|
| Net income | -11.9M | -11M | -8.5M | -7.4M | -6M | -7M |
| Depreciation & amortization | 39K | 151K | 128K | 127K | 104K | 100K |
| Stock-based compensation | 1.5M | 1.9M | 825K | 914K | 34K | 562K |
| Change in working capital | -1.7M | -2M | -1.2M | -875K | -888K | -34K |
| Operating cash flow | -12M | -10.9M | -8.8M | -7.3M | -6.7M | -6.3M |
| Capital expenditure | -51K | 58K | 0 | -2K | 0 | -96K |
| Investing cash flow | 8.1M | 28.1M | 0 | -2K | 0 | -96K |
| Dividends paid | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — |
| Financing cash flow | -23K | -1K | 0 | 5M | -368K | 0 |
| Net change in cash | -3.9M | 17.3M | -8.8M | -2.3M | -7.1M | -6.4M |
| Free cash flow | -16.3M | -11.3M | -8.8M | -6.6M | -7.4M | -6.2M |