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 | -$0.7 | -$0.76 | -8.6% | — | $0 | — |
| Q1 26 | -$0.69 | -$0.65 | +5.8% | — | — | — |
| Q4 25 | -$0.69 | -$0.66 | +4.3% | — | — | — |
| Q3 25 | -$1.15 | -$0.77 | +33.0% | — | — | — |
| Q2 25 | -$0.63 | -$1.15 | -82.5% | — | — | — |
| Q1 25 | $0.45 | -$18.3 | -4171.1% | — | $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 | — | -$3.05 | — | — | $0 | — |
| FY24 | — | $0.08 | — | — | $167.5M | — |
| FY23 | — | -$2.87 | — | — | $0 | — |
| FY22 | — | — | — | — | $0 | — |
Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.
| Period | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|
| Revenue | $0 | $0 | $167.5M | $0 |
| YoY change | — | 0% | +InfinityT% | -100% |
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 | Q2 24 | Q3 24 | Q4 24 | Q1 25 | Q2 25 | Q3 25 | Q4 25 | Q1 26 | Q2 26 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0 |
Revenue, gross profit, operating income, and net income per period.
Click a row to chart it; unreported figures show a dash.
| Period | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|
| Revenue | 0 | 0 | 167.5M | 0 |
| Cost of revenue | — | — | — | — |
| Gross profit | — | — | — | — |
| Gross margin | — | — | — | — |
| Research & development | 88.2M | 73.9M | 83.5M | 108.4M |
| Selling, general & administrative | 22.8M | 24.6M | 26.4M | 34.5M |
| Operating expenses | 111M | 98.6M | 109.9M | 142.9M |
| Operating income | -111M | -98.6M | 57.6M | -142.9M |
| Operating margin | — | — | 34.4% | — |
| Non-operating income, net | -5.9M | -3.8M | -8.8M | — |
| Pretax income | -114.9M | -100.4M | 53.4M | -131.1M |
| Income tax | — | — | 1.2M | 0 |
| Net income | -114.9M | -100.4M | 52.2M | -131.1M |
| Net margin | — | — | 31.2% | — |
| EBITDA | -104.8M | -94.5M | 60.9M | -140.5M |
| EPS | — | -2.87 | 0.08 | -3.05 |
| Diluted EPS | — | -2.87 | 0.08 | -3.05 |
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 | Q2 24 | Q3 24 | Q4 24 | Q1 25 | Q2 25 | Q3 25 | Q4 25 | Q1 26 | Q2 26 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 0 | 0 | 165M | 2.5M | 0 | 0 | 0 | 0 | 0 | 20M | 0 |
| Cost of revenue | — | — | — | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — | — | — | — | — |
| Research & development | 19.5M | 16M | 19.5M | 19.9M | 22.2M | 27.6M | 28.1M | 25.2M | 27.6M | 34.1M | 34.9M |
| Selling, general & administrative | 5.8M | 7M | 5.9M | 6.9M | 7.5M | 7.8M | 8.4M | 7.8M | 10.5M | 12.4M | 13.1M |
| Operating expenses | 25.2M | 23.1M | 25.4M | 26.7M | 29.7M | 35.4M | 36.5M | 33M | 38.1M | 46.6M | 48M |
| Operating income | -25.2M | -23.1M | 139.6M | -24.2M | -29.7M | -35.4M | -36.5M | -33M | -38.1M | -26.6M | -48M |
| Operating margin | — | — | 84.6% | -969.2% | — | — | — | — | — | -132.8% | — |
| Non-operating income, net | — | — | 216K | -2.6M | -1.6M | — | — | — | — | — | — |
| Pretax income | -24.7M | -26.6M | 140.8M | -25M | -29.9M | -32.8M | -33.7M | -30.1M | -34.6M | -24.2M | -44.7M |
| Income tax | 0 | — | — | -279K | -275K | — | 0 | 0 | 0 | — | — |
| Net income | -24.7M | -26.6M | 139.1M | -24.8M | -29.6M | -32.8M | -33.7M | -30.1M | -34.6M | -24.2M | -44.7M |
| Net margin | — | — | 84.3% | -990.1% | — | — | — | — | — | -121% | — |
| EBITDA | -24.2M | -22.1M | 140.4M | -23.4M | -29M | -34.7M | -35.8M | -32.4M | -37.6M | -22.9M | -43.4M |
| EPS | — | — | — | — | -1.02 | -1.15 | -0.77 | -0.66 | -0.65 | -0.45 | -0.76 |
| Diluted EPS | — | — | — | — | -1.02 | -1.15 | -0.77 | -0.66 | -0.65 | -0.45 | -0.76 |
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 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|
| Market cap | — | — | — | 1.8B | 1.5B |
| Enterprise value | — | — | — | 1.5B | 1.1B |
| Shares outstanding | — | 35M | 43.8M | 43M | 43M |
| Metric | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|
| P/E | — | — | — | — | 189.5 |
| P/S | — | — | — | — | 72.4 |
| P/B | — | — | — | 5.02 | 3.19 |
| EV/EBITDA | — | — | — | -10.4 | -7.63 |
| EV/Sales | — | — | — | — | 54.8 |
| Earnings yield | — | — | — | — | 0.53% |
| FCF yield | — | — | — | -6.33% | -4.27% |
| PEG | — | — | — | — | -145.9 |
| Metric | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|
| Operating margin | — | — | 34.4% | — | -728.1% |
| Net margin | — | — | 31.2% | — | 0% |
| ROE | 40.7% | 26.9% | -16.8% | -36.9% | -37.3% |
| ROA | -76.6% | -140.4% | 21.7% | -33% | -21.8% |
| ROIC | — | — | -11.7% | -393.1% | -393.1% |
| Return on tangible assets | -76.6% | -140.4% | 21.7% | -33% | -25.1% |
| Metric | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|
| Current ratio | 5.11 | 2.09 | 9.76 | 15.5 | 18.3 |
| Quick ratio | 5.11 | 2.09 | 9.76 | 15.5 | 18.3 |
| Debt / equity | -0.11 | -0.13 | -0.09 | 0.07 | 0.13 |
| Debt / assets | 0.21 | 0.69 | 0.11 | 0.06 | 0.11 |
| Net debt / EBITDA | 0.65 | -0.22 | -2.8 | 2.27 | 2.57 |
| Effective tax rate | — | — | 2.19% | 0% | 0% |
| Metric | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|
| Revenue per share | — | 0 | 3.83 | 0 | 0.38 |
| EPS (basic) | — | -2.87 | 0.08 | -3.05 | -3.05 |
| EPS (diluted) | — | -2.87 | 0.08 | -3.05 | -2.44 |
| Book value per share | — | -10.7 | -7.11 | 8.26 | 8.16 |
| FCF per share | — | -2.5 | 1.71 | -2.62 | -1.81 |
| Cash per share | — | 0.83 | 4.5 | 7.96 | 7.4 |
| Capex per share | — | 0.01 | 0.03 | — | — |
| Metric | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|
| Capex / revenue | — | — | 0.68% | — | — |
| Capex / operating cash flow | -1.8% | -0.51% | 1.81% | — | — |
| Payout ratio | — | — | — | — | 0% |
| $0 |
| $165M |
| $2.5M |
| $0 |
| $0 |
| $0 |
| $0 |
| $0 |
| $20M |
| $0 |
| YoY change | — | — | — | +InfinityT% | 0% | — | -100% | -100% | 0% | +InfinityT% | 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 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|
| Cash & short-term investments | 99.9M | 29.2M | 196.8M | 341.9M |
| Receivables | — | — | — | — |
| Inventory | — | — | — | — |
| Total current assets | 106.1M | 34.1M | 201.7M | 349.7M |
| Property, plant & equipment | 41.2M | 35M | 29.9M | 25.2M |
| Goodwill & intangibles | — | — | — | — |
| Total assets | 150M | 71.5M | 240.5M | 397.1M |
| Accounts payable | 1.6M | 2M | 1.9M | 1.8M |
| Short-term debt | 4.3M | 4.5M | 4.6M | 4.8M |
| Total current liabilities | 20.8M | 16.3M | 20.7M | 22.6M |
| Long-term debt | 27.7M | 45.1M | 22M | 18.5M |
| Total liabilities | 432.4M | 445.4M | 551.7M | 42.2M |
| Shareholders' equity | -282.5M | -373.8M | -311.2M | 355M |
| Total debt | 32.1M | 49.6M | 26.6M | 23.3M |
| Net debt | -67.9M | 20.5M | -170.2M | -165.9M |
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 23 | Q2 24 | Q3 24 | Q4 24 | Q1 25 | Q2 25 | Q3 25 | Q4 25 | Q1 26 | Q2 26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & short-term investments | 29.2M | 175.1M | 149.6M | 196.8M | 294.4M | 264.5M | 383.9M | 341.9M | 352.4M | 411.1M |
| Receivables | — | — | — | — | — | — | — | — | 20M | — |
| Inventory | — | — | — | — | — | — | — | — | — | — |
| Total current assets | 34.1M | 179.4M | 154M | 201.7M | 299.7M | 271.1M | 391.3M | 349.7M | 379.8M | 420.4M |
| Property, plant & equipment | 35M | 32.2M | 30.9M | 29.9M | 28.8M | 27.7M | 26.5M | 25.2M | 24M | 22.8M |
| Goodwill & intangibles | — | — | — | — | — | — | — | — | — | — |
| Total assets | 71.5M | 215.8M | 192.5M | 240.5M | 332.8M | 303.5M | 422.1M | 397.1M | 419.7M | 531.6M |
| Accounts payable | 2M | 2.2M | 1M | 1.9M | 2.4M | 3.7M | 2.9M | 1.8M | 4M | 2.2M |
| Short-term debt | 4.5M | 4.6M | 4.6M | 4.6M | 4.7M | 4.7M | 4.8M | 4.8M | 4.8M | 4.9M |
| Total current liabilities | 16.3M | 21.6M | 17.6M | 20.7M | 18.6M | 19.9M | 22.1M | 22.6M | 21.2M | 23M |
| Long-term debt | 45.1M | 72.7M | 74.5M | 22M | 21.1M | 20.3M | 19.4M | 18.5M | 56.4M | 55.5M |
| Total liabilities | 445.4M | 478.2M | 477M | 551.7M | 40.8M | 41.3M | 42.6M | 42.2M | 78M | 78.5M |
| Shareholders' equity | -373.8M | -262.4M | -284.5M | -311.2M | 292.1M | 262.2M | 379.4M | 355M | 341.7M | 453.1M |
| Total debt | 49.6M | 77.2M | 79.2M | 26.6M | 25.8M | 25M | 24.2M | 23.3M | 61.2M | 60.4M |
| Net debt | 20.5M | -97.8M | -70.4M | -170.2M | -268.6M | -239.5M | -292.6M | -165.9M | -137.5M | -142.2M |
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 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|
| Net income | -114.9M | -100.4M | 52.2M | -131.1M |
| Depreciation & amortization | 3.8M | 4.1M | 3.3M | 2.4M |
| Stock-based compensation | 6.7M | 8.7M | 9.6M | 16.4M |
| Change in working capital | -7.2M | -2.1M | -5.4M | -2.8M |
| Operating cash flow | -109.1M | -86.5M | 63.2M | -111.9M |
| Capital expenditure | -2M | -441K | -1.1M | — |
| Investing cash flow | -3.2M | -441K | -1.1M | -170.2M |
| Dividends paid | — | — | — | — |
| Share repurchases | — | — | — | — |
| Financing cash flow | 1.6M | 16.2M | 92.1M | 269.8M |
| Net change in cash | -110.7M | -70.8M | 154.2M | -12.3M |
| Free cash flow | -101.2M | -87.3M | 74.8M | -112.7M |
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 | Q2 24 | Q3 24 | Q4 24 | Q1 25 | Q2 25 | Q3 25 | Q4 25 | Q1 26 | Q2 26 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Net income | -24.7M | -26.6M | 139.1M | -24.8M | -29.6M | -32.8M | -33.7M | -30.1M | -34.6M | -24.2M | -44.7M |
| Depreciation & amortization | 1M | 976K | 854K | 788K | 705K | 684K | 649K | 571K | 499K | 444K | 391K |
| Stock-based compensation | 2.1M | 2.6M | 2.1M | 2.3M | 2.9M | 3.2M | 3.2M | 3.9M | 6.1M | 7.1M | 9.2M |
| Change in working capital | 274K | -1.2M | -874K | -3.5M | -302K | 112K | 132K | -1.2M | -1.8M | -20M | -2.9M |
| Operating cash flow | -20.7M | -23.4M | 142M | -24.1M | -25.4M | -28M | -30.1M | -24.6M | -27.7M | -39.1M | -15.1M |
| Capital expenditure | 3K | -34K | -160K | -103K | -605K | -299K | — | — | — | — | — |
| Investing cash flow | 3K | -34K | -160K | -103K | -605K | -299K | — | -66.8M | -120.9M | 6.4M | -128.4M |
| Dividends paid | — | — | — | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — | — | — | — |
| Financing cash flow | 0 | 16.2M | 259K | -2.4M | -594K | 127.3M | 612K | 141.7M | 163K | 38.3M | 145.7M |
| Net change in cash | -20.7M | -7.3M | 142.1M | -26.6M | -26.6M | 99M | -29.4M | 50.3M | -148.4M | 5.5M | 2.3M |
| Free cash flow | -20M | -20.7M | 144.9M | -23.3M | -23.1M | -29.8M | -30.4M | -24.7M | -27.8M | -39.2M | -15.2M |