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 | -$0.59 | -$0.78 | -32.2% | — | $0 | — |
| Q1 26 | -$0.58 | -$0.51 | +12.1% | — | $0 | — |
| Q4 25 | -$0.6 | -$0.49 | +18.3% | — | $0 | — |
| Q3 25 | -$0.68 | -$0.63 | +7.4% | — | $0 | — |
| Q2 25 | -$0.76 | -$0.58 | +23.7% | — | $0 | — |
| Q1 25 | -$0.77 | -$0.71 | +7.8% | — | $0 | — |
| Q4 24 | -$0.59 | -$0.47 | +20.3% | — | $0 | — |
| Q3 24 | -$2.72 | -$2.78 | -2.2% | — | $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 | — | -$2.38 | — | — | $0 | — |
| FY24 | — | -$5.82 | — | — | $0 | — |
| FY23 | — | -$1.02 | — | — | $0 | — |
| FY22 | — | -$0.82 | — | — | $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 | $0 | $0 |
| YoY change | — | 0% | 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 | 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 | 0 | 0 |
| Cost of revenue | — | — | — | — |
| Gross profit | — | — | — | — |
| Gross margin | — | — | — | — |
| Research & development | 21.4M | 28.5M | 57.4M | 79.2M |
| Selling, general & administrative | 3.8M | 6.8M | 10.8M | 18.9M |
| Operating expenses | 25.2M | 35.3M | 68.2M | 98.1M |
| Operating income | -25.2M | -35.3M | -68.2M | -98.1M |
| Operating margin | — | — | — | — |
| Non-operating income, net | -972K | — | — | — |
| Pretax income | -26.1M | -32.6M | -61.9M | -87M |
| Income tax | — | — | — | — |
| Net income | -26.1M | -32.6M | -61.9M | -87M |
| Net margin | — | — | — | — |
| EBITDA | -24.7M | -35.2M | -68M | -97.8M |
| EPS | -0.82 | -1.02 | -5.82 | -2.38 |
| Diluted EPS | -0.82 | -1.02 | -5.82 | -2.38 |
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 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cost of revenue | — | — | — | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — | — | — | — | — |
| Research & development | 9.1M | 7.7M | 14.4M | 16.7M | 15.2M | 22.4M | 17.7M | 19.3M | 19.8M | 18.5M | 31M |
| Selling, general & administrative | 1.9M | 2.3M | 2.3M | 2.9M | 3.4M | 4.1M | 4.1M | 4.7M | 6M | 8.8M | 9.9M |
| Operating expenses | 10.9M | 10M | 16.7M | 19.6M | 18.6M | 26.5M | 21.8M | 23.9M | 25.8M | 27.3M | 40.9M |
| Operating income | -10.9M | -10M | -16.7M | -19.6M | -18.6M | -26.5M | -21.8M | -23.9M | -25.8M | -27.3M | -40.9M |
| Operating margin | — | — | — | — | — | — | — | — | — | — | — |
| Non-operating income, net | — | — | — | — | — | — | — | — | — | — | — |
| Pretax income | -10.2M | -8.8M | -15.9M | -18.1M | -15.6M | -23.9M | -19.4M | -21.6M | -22.1M | -23.5M | -37.1M |
| Income tax | — | — | — | — | — | — | — | — | — | — | — |
| Net income | -10.2M | -8.8M | -15.9M | -18.1M | -15.6M | -23.9M | -19.4M | -21.6M | -22.1M | -23.5M | -37.1M |
| Net margin | — | — | — | — | — | — | — | — | — | — | — |
| EBITDA | -10.9M | -7.2M | -16.6M | -19.5M | -18.6M | -26.5M | -21.7M | -23.9M | -25.7M | -27.2M | -40.9M |
| EPS | -0.32 | — | — | -2.78 | -0.47 | -0.71 | -0.58 | -0.63 | -0.49 | -0.5 | -0.78 |
| Diluted EPS | -0.32 | — | — | -2.78 | -0.47 | -0.71 | -0.58 | -0.63 | -0.49 | -0.5 | -0.78 |
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 | — | — | — | — | 2.8B |
| Enterprise value | — | — | — | — | 2.2B |
| Shares outstanding | 31.9M | 31.9M | 10.6M | 36.5M | 36.5M |
| Metric | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|
| P/E | — | — | — | — | 3.74 |
| P/B | — | — | — | — | 6.28 |
| EV/EBITDA | — | — | — | — | -18.4 |
| Earnings yield | — | — | — | — | 26.7% |
| FCF yield | — | — | — | — | -1.91% |
| PEG | — | — | — | — | 0.11 |
| Metric | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|
| Operating margin | — | — | — | — | 0% |
| Net margin | — | — | — | — | 0% |
| ROE | 61.3% | 44.9% | -24.1% | -23.6% | -33.2% |
| ROA | -58% | -38.7% | -23.1% | -22.6% | -22.1% |
| Return on tangible assets | -58% | -38.7% | -23.1% | -22.6% | -23.9% |
| Metric | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|
| Current ratio | 12.9 | 21.3 | 24.2 | 24.6 | 18.1 |
| Quick ratio | 12.9 | 21.3 | 24.2 | 24.6 | 18.1 |
| Debt / equity | -0.01 | -0 | 0 | 0 | 0.01 |
| Debt / assets | 0.01 | 0 | 0 | 0 | 0.01 |
| Net debt / EBITDA | 1.7 | 2.29 | 3.86 | 3.81 | 3.53 |
| Interest coverage | -68.9 | — | — | — | — |
| Metric | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|
| Revenue per share | 0 | 0 | 0 | 0 | 0 |
| EPS (basic) | -0.82 | -1.02 | -5.82 | -2.38 | -2.38 |
| EPS (diluted) | -0.82 | -1.02 | -5.82 | -2.38 | -2.37 |
| Book value per share | -1.34 | -2.28 | 24.2 | 10.1 | 8.54 |
| FCF per share | -0.74 | -1.01 | -5.22 | -2.24 | -1.79 |
| Cash per share | 1.33 | 2.53 | 24.6 | 10.2 | 8.69 |
| Capex per share | 0.01 | 0 | 0.08 | — | — |
| Metric | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|
| Capex / operating cash flow | -1.78% | -0.43% | -1.66% | — | — |
| Payout ratio | — | — | — | — | 0% |
| $0 |
| $0 |
| $0 |
| $0 |
| $0 |
| $0 |
| $0 |
| $0 |
| $0 |
| $0 |
| YoY change | — | — | — | 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 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|
| Cash & short-term investments | 42.5M | 80.7M | 262.1M | 373.7M |
| Receivables | — | — | — | — |
| Inventory | — | — | — | — |
| Total current assets | 44.2M | 83.5M | 267.3M | 381.5M |
| Property, plant & equipment | 842K | 665K | 1.2M | 3.2M |
| Goodwill & intangibles | — | — | — | — |
| Total assets | 45.1M | 84.2M | 268.5M | 385.1M |
| Accounts payable | 976K | 1.4M | 5.3M | 3M |
| Short-term debt | 137K | 153K | 171K | 172K |
| Total current liabilities | 3.4M | 3.9M | 11.1M | 15.5M |
| Long-term debt | 324K | 171K | 0 | 424K |
| Total liabilities | 87.7M | 156.6M | 11.1M | 15.9M |
| Shareholders' equity | -42.6M | -72.5M | 257.4M | 369.2M |
| Total debt | 461K | 324K | 171K | 596K |
| Net debt | -23.7M | -30.2M | -49.2M | -74.7M |
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 | 80.7M | 55.3M | 277.1M | 262.1M | 240.8M | 224.9M | 391.7M | 373.7M | 440M | 418.6M |
| Receivables | — | — | — | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — | — | — | — |
| Total current assets | 83.5M | 58.8M | 281.2M | 267.3M | 244.3M | 229.2M | 397.5M | 381.5M | 448.5M | 427.9M |
| Property, plant & equipment | 665K | 1.3M | 1.2M | 1.2M | 1.6M | 2.3M | 2.5M | 3.2M | 3.6M | 7.4M |
| Goodwill & intangibles | — | — | — | — | — | — | — | — | — | — |
| Total assets | 84.2M | 62.9M | 282.4M | 268.5M | 245.9M | 231.5M | 400.1M | 385.1M | 452.7M | 435.9M |
| Accounts payable | 1.4M | 3.2M | 5M | 5.3M | 4.2M | 5.8M | 3.8M | 3M | 7M | 4.4M |
| Short-term debt | 153K | 162K | 166K | 171K | 130K | 138K | 154K | 172K | 178K | 631K |
| Total current liabilities | 3.9M | 8.2M | 10.9M | 11.1M | 10.5M | 11.8M | 12.1M | 15.5M | 14.6M | 23.7M |
| Long-term debt | 171K | 87K | 44K | 0 | — | 512K | 469K | 424K | 377K | 2.7M |
| Total liabilities | 156.6M | 160.8M | 11M | 11.1M | 10.5M | 12.3M | 12.5M | 15.9M | 14.9M | 26.4M |
| Shareholders' equity | -72.5M | -97.9M | 271.4M | 257.4M | 235.4M | 219.2M | 387.5M | 369.2M | 437.8M | 409.5M |
| Total debt | 324K | 249K | 210K | 171K | 130K | 650K | 623K | 596K | 555K | 3.3M |
| Net debt | -30.2M | -12.3M | -132.7M | -49.2M | -29.8M | -39.1M | -222.5M | -74.7M | -44.7M | -50.8M |
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 | -26.1M | -32.6M | -61.9M | -87M |
| Depreciation & amortization | 56K | 157K | 244K | 248K |
| Stock-based compensation | 306K | 2M | 5.2M | 8.7M |
| Change in working capital | 629K | 267K | 3.8M | -2.5M |
| Operating cash flow | -24.7M | -30M | -52.6M | -79.9M |
| Capital expenditure | -441K | -129K | -874K | — |
| Investing cash flow | -11.4M | -30.9M | -160.6M | -81.8M |
| Dividends paid | — | — | — | — |
| Share repurchases | — | — | — | — |
| Financing cash flow | 46M | 68.5M | 233.7M | 187.2M |
| Net change in cash | 9.9M | 7.6M | 20.5M | 25.5M |
| Free cash flow | -23.6M | -32.1M | -55.6M | -81.9M |
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 | -10.2M | -8.8M | -15.9M | -18.1M | -15.6M | -23.9M | -19.4M | -21.6M | -22.1M | -23.5M | -37.1M |
| Depreciation & amortization | 40K | 41K | 63K | 75K | 58K | 77K | 61K | 50K | 60K | 64K | 79K |
| Stock-based compensation | 596K | 1M | 919K | 1.2M | 1.5M | 1.8M | 1.9M | 2.2M | 2.7M | 5.5M | 6.1M |
| Change in working capital | 223K | -345K | 541K | 2.2M | 605K | -1.6M | 2M | -2M | -880K | 3.9M | -2.8M |
| Operating cash flow | -9.3M | -8.1M | -14.3M | -14.7M | -13.4M | -23.5M | -17.4M | -21.5M | -18.3M | -20.2M | -22.6M |
| Capital expenditure | -22K | -55K | -452K | -57K | -92K | -30K | — | — | — | — | — |
| Investing cash flow | -18.6M | -29M | -7.9M | -100.8M | -67.3M | 3.2M | 26.7M | 17.5M | -129.2M | -96.7M | 30.1M |
| Dividends paid | — | — | — | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — | — | — | — |
| Financing cash flow | — | 0 | -1.8M | -2.2M | -327K | — | — | 187.9M | -517K | 85M | 127K |
| Net change in cash | -27.9M | -37.1M | -24M | -117.6M | -81.1M | -20.3M | 9.3M | 183.9M | -148M | -31.9M | 7.6M |
| Free cash flow | -7.7M | -11.2M | -13.7M | -14.7M | -16.1M | -22.7M | -18.1M | -21.9M | -19.1M | -20.6M | -23.5M |