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 | -$0.52 | -$0.73 | -40.4% | — | -$257K | — |
| Q1 26 | -$0.55 | -$0.61 | -10.9% | — | $1.2M | — |
| Q4 25 | -$0.58 | -$0.6 | -3.4% | — | $3.9M | — |
| Q3 25 | -$0.53 | -$0.55 | -3.8% | — | $8.7M | — |
| Q2 25 | -$0.61 | -$0.54 | +11.5% | — | $8.5M | — |
| Q1 25 | -$0.51 | -$0.68 | -33.3% | — | $4.1M | — |
| Q4 24 | -$0.78 | -$0.63 | +19.2% | — | $9.6M | — |
| Q3 24 | -$0.74 | -$0.51 | +31.1% | — | $11.5M | — |
| Q2 24 | -$0.81 | -$0.29 | +64.2% | — | $20M | — |
| Q1 24 | -$0.67 | -$2.08 | -210.4% | — | $11.2M | — |
| Q4 23 | -$1.66 | -$9.91 | -497.0% | — | $12.4M | — |
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 | — | -$2.36 | — | — | $25.2M | — |
| FY24 | — | -$2.36 | — | — | $52.3M | — |
| FY23 | — | -$1.82 | — | — | $44.8M | — |
| FY22 | — | -$1.45 | — | — | $17.2M | — |
| FY21 | — | -$0.72 | — | — |
Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.
| Period | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | $243K | $17.2M | $44.8M | $52.3M | $25.2M |
| YoY change | — | +7K% | +160.2% | +16.8% | -51.8% |
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 | Q1 25 | Q2 25 | Q3 25 |
|---|
Revenue, gross profit, operating income, and net income per period.
Click a row to chart it; unreported figures show a dash.
| Period | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | 243K | 17.2M | 44.8M | 52.3M | 25.2M |
| Cost of revenue | — | — | — | — | — |
| Gross profit | — | — | — | — | — |
| Gross margin | — | — | — | — | — |
| Research & development | 14.5M | 43.1M | 94.4M | 109.2M | 94.4M |
| Selling, general & administrative | 9.7M | 18.7M | 28.8M | 32M | 26.8M |
| Operating expenses | 24.2M | 61.8M | 123.2M | 141.2M | 121.2M |
| Operating income | -23.9M | -44.6M | -78.5M | -88.9M | -96M |
| Operating margin | -9.9K% | -259.5% | -175.4% | -170% | -380.9% |
| Non-operating income, net | 2.8M | 295K | 2.8M | -9.4M | -1.4M |
| Pretax income | -21.4M | -41M | -60.2M | -83.6M | -87.9M |
| Income tax | 0 | 2.6M | 8M | -5.5M | -58K |
| Net income | -21.4M | -43.6M | -68.3M | -78.1M | -87.9M |
| Net margin | -8.8K% | -253.4% | -152.5% | -149.3% | -348.5% |
| EBITDA | -23.5M | -39.3M | -58.9M | -74.3M | -89.4M |
| EPS | -0.72 | -1.45 | -1.82 | -2.36 | -2.36 |
| Diluted EPS | -0.72 | -1.45 | -1.82 | -2.36 | -2.36 |
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 | 12.4M | 12.4M | 11.2M | 20M | 11.5M | 9.6M | 4.1M | 8.5M | 8.7M | 3.9M | 1.2M | -257K |
| Cost of revenue | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — | — | — | — | — | — |
| Research & development | 26.8M | 24.8M | 31.4M | 28.3M | 26.3M | 23.2M | 25.1M | 22.5M | 25.3M | 21.5M | 19.3M | 22.5M |
| Selling, general & administrative | 7.9M | 7.8M | 8.8M | 8.6M | 7.6M | 7.1M | 6.8M | 7M | 6.2M | 6.8M | 6.5M | 6M |
| Operating expenses | 34.8M | 32.6M | 40.2M | 36.9M | 33.9M | 30.2M | 31.9M | 29.5M | 31.5M | 28.3M | 25.8M | 28.5M |
| Operating income | -22.4M | -20.2M | -29M | -16.9M | -22.4M | -20.6M | -27.8M | -21M | -22.8M | -24.4M | -24.6M | -28.8M |
| Operating margin | -181.1% | -162.9% | -260.2% | -84.3% | -194.4% | -214.5% | -674.1% | -246.5% | -263.8% | -623% | -2K% | 11.2K% |
| Non-operating income, net | -85K | -4K | -50K | -51K | -2.1M | -7.2M | -8K | -1.4M | -2K | -11K | -1K | 35K |
| Pretax income | -18.6M | -16.6M | -25.1M | -12.9M | -20.9M | -24.6M | -24.9M | -19.9M | -20.6M | -22.5M | -23M | -27.5M |
| Income tax | 1.2M | 2.7M | 0 | -2.2M | -2.1M | -1.2M | 98K | 44K | -234K | 34K | 10K | 0 |
| Net income | -19.8M | -19.3M | -25.1M | -10.7M | -18.8M | -23.4M | -25M | -19.9M | -20.4M | -22.5M | -23.1M | -27.5M |
| Net margin | -160.3% | -155.6% | -225.4% | -53.7% | -163% | -243.4% | -606.7% | -233.9% | -235.5% | -576% | -1.8K% | 10.7K% |
| EBITDA | -21.2M | -15.4M | -27.8M | -15.6M | -19M | -12M | -26.5M | -18.4M | -21.5M | -23.1M | -23.3M | -27.5M |
| EPS | -0.53 | — | -1.19 | -0.29 | -0.51 | — | -0.68 | -0.54 | -0.55 | — | -0.61 | -0.73 |
| Diluted EPS | -0.53 | — | -1.19 | -0.29 | -0.51 | — | -0.68 | -0.54 | -0.55 | — | -0.61 | -0.73 |
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 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|
| Market cap | — | — | — | — | — | 43.1M |
| Enterprise value | — | — | — | — | — | -39.9M |
| Shares outstanding | 30M | 30M | 37.5M | 33M | 37.3M | 37.3M |
| Metric | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|
| P/E | — | — | — | — | — | -0.49 |
| P/S | — | — | — | — | — | 3.18 |
| P/B | — | — | — | — | — | 0.38 |
| EV/EBITDA | — | — | — | — | — | 0.42 |
| EV/Sales | — | — | — | — | — | -2.94 |
| Earnings yield | — | — | — | — | — | -205.2% |
| FCF yield | — | — | — | — | — | -118.3% |
| PEG | — | — | — | — | — | -0.01 |
| Metric | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|
| Operating margin | -9.9K% | -259.5% | -175.4% | -170% | -380.9% | 11.2K% |
| Net margin | -8.8K% | -253.4% | -152.5% | -149.3% | -348.5% | 0% |
| ROE | 65.9% | 58.6% | 50.3% | -33.2% | -55.4% | -60.6% |
| ROA | -15.1% | -10.5% | -18.7% | -24% | -39.7% | -28.2% |
| ROIC | 26.1% | 10.7% | 21.9% | -275% | -249.7% | -339.5% |
| Return on tangible assets | -15.1% | -10.5% | -18.7% | -24% | -39.7% | -53.8% |
| Metric | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|
| Current ratio | 4.33 | 7.56 | 4.04 | 6.91 | 7.22 | 4.5 |
| Quick ratio | 4.33 | 7.56 | 4.04 | 6.91 | 7.22 | 4.5 |
| Debt / equity | -1.5 | -0.25 | -0.36 | 0.19 | 0.26 | 0.34 |
| Debt / assets | 0.34 | 0.04 | 0.13 | 0.14 | 0.18 | 0.22 |
| Net debt / EBITDA | 2.52 | 8.74 | 3.79 | 2.73 | 1.34 | 0.87 |
| Interest coverage | -70 | -417.6 | — | — | — | — |
| Effective tax rate | 0% | 0% | 0% | 0% | 0% | 0% |
| Metric | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|
| Revenue per share | 0.01 | 0.57 | 1.19 | 1.58 | 0.68 | 0.36 |
| EPS (basic) | -0.72 | -1.45 | -1.82 | -2.36 | -2.36 | -2.36 |
| EPS (diluted) | -0.72 | -1.45 | -1.82 | -2.36 | -2.36 | -2.49 |
| Book value per share | -1.09 | -2.48 | -3.61 | 7.11 | 4.26 | 2.98 |
| FCF per share | 0.71 | 0.53 | -2.7 | -3.4 | -2.4 | -2.28 |
| Cash per share | 3.61 | 12.1 | 7.23 | 7.52 | 4.32 | 3.19 |
| Capex per share | 0.1 | 0.47 | 0.26 | 0.09 | — | — |
| Metric | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|
| Capex / revenue | 1.2K% | 81.3% | 21.9% | 5.95% | — | — |
| Capex / operating cash flow | 11.4% | 51.6% | -11.9% | -2.92% | — | — |
| Payout ratio | — | — | — | — | — | 0% |
| $243K |
| — |
| Q4 25 |
|---|
| Q1 26 |
|---|
| Q2 26 |
|---|
| Revenue | $12.4M | $12.4M | $11.2M | $20M | $11.5M | $9.6M | $4.1M | $8.5M | $8.7M | $3.9M | $1.2M | -$257K |
| YoY change | +151.6% | +121.6% | +28.9% | +76.5% | -6.87% | -22.5% | -63% | -57.5% | -24.8% | -59.3% | -69.8% | -103% |
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 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash & short-term investments | 108.2M | 362.1M | 271.2M | 248.3M | 160.8M |
| Receivables | — | 0 | 2.5M | 1.3M | 305K |
| Inventory | — | — | — | — | — |
| Total current assets | 108.9M | 366.9M | 278.3M | 258M | 165.5M |
| Property, plant & equipment | 22.1M | 33.3M | 65.2M | 57.7M | 47.4M |
| Goodwill & intangibles | — | — | — | — | — |
| Total assets | 142M | 414.5M | 364.8M | 324.6M | 221.1M |
| Accounts payable | 1.4M | 2M | 1.8M | 533K | 1.5M |
| Short-term debt | 687K | 1.5M | 3.4M | 5.6M | 6M |
| Total current liabilities | 25.2M | 48.5M | 68.9M | 37.3M | 22.9M |
| Long-term debt | 48.2M | 17.1M | 44.8M | 40.2M | 34.6M |
| Total liabilities | 174.5M | 488.9M | 500.4M | 89.7M | 62.5M |
| Shareholders' equity | -32.5M | -74.4M | -135.6M | 234.9M | 158.6M |
| Total debt | 48.9M | 18.6M | 48.2M | 45.8M | 40.7M |
| Net debt | 9.6M | -165.9M | -92.4M | 18.4M | -1.1M |
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 | 292.9M | 271.2M | 327.4M | 299.9M | 274.6M | 248.3M | 226M | 205M | 184.1M | 160.8M | 140.2M | 120.7M |
| Receivables | 3.9M | 2.5M | 2.1M | 1.6M | 589K | 1.3M | 1M | 873K | 960K | 305K | 0 | 0 |
| Inventory | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current assets | 300M | 278.3M | 335.6M | 307.6M | 282.3M | 258M | 233.2M | 211.7M | 189.8M | 165.5M | 144.6M | 124.5M |
| Property, plant & equipment | 65.7M | 65.2M | 63.5M | 62.1M | 59.9M | 57.7M | 55.2M | 52.4M | 49.9M | 47.4M | 44.9M | 41.7M |
| Goodwill & intangibles | — | — | — | — | — | — | — | — | — | — | — | — |
| Total assets | 386.4M | 364.8M | 415.4M | 385.9M | 358.3M | 324.6M | 297.9M | 272.3M | 247.9M | 221.1M | 197M | 173.7M |
| Accounts payable | 4.9M | 1.8M | 6.8M | 3.5M | 3.1M | 533K | 2.7M | 2.9M | 1.2M | 1.5M | 2.4M | 2.6M |
| Short-term debt | 2.3M | 3.4M | 4.4M | 5.4M | 4.7M | 5.6M | 5.6M | 5.5M | 5.6M | 6M | 6.1M | 6.2M |
| Total current liabilities | 68.8M | 68.9M | 70.7M | 52.8M | 45.7M | 37.3M | 39.9M | 33.3M | 29.6M | 22.9M | 22.5M | 27.6M |
| Long-term debt | 45.9M | 44.8M | 43.7M | 42.5M | 41.4M | 40.2M | 38.8M | 37.5M | 36.1M | 34.6M | 33.1M | 31.5M |
| Total liabilities | 505.5M | 500.4M | 139.8M | 116.5M | 102.6M | 89.7M | 85.2M | 76.5M | 69.5M | 62.5M | 59.2M | 61.1M |
| Shareholders' equity | -119M | -135.6M | 275.6M | 269.4M | 255.8M | 234.9M | 212.7M | 195.8M | 178.4M | 158.6M | 137.8M | 112.6M |
| Total debt | 48.2M | 48.2M | 48.1M | 47.9M | 46.1M | 45.8M | 44.4M | 43M | 41.7M | 40.7M | 39.2M | 37.7M |
| Net debt | -53.7M | -92.4M | -54.5M | -13.2M | 21M | 18.4M | 15.2M | 16.1M | 8.9M | -1.1M | 13.9M | -1.3M |
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 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Net income | -21.4M | -43.6M | -68.3M | -78.1M | -87.9M |
| Depreciation & amortization | 387K | 1.7M | 4.2M | 5.4M | 5.3M |
| Stock-based compensation | 375K | 2M | 6.9M | 16.2M | 11.9M |
| Change in working capital | 44.9M | 65.9M | -28.7M | -53.2M | -24.8M |
| Operating cash flow | 25.5M | 27.1M | -82.4M | -106.6M | -88.9M |
| Capital expenditure | -2.9M | -14M | -9.8M | -3.1M | — |
| Investing cash flow | -74.3M | -122.2M | 45.7M | -88.2M | 104.1M |
| Dividends paid | — | — | — | — | — |
| Share repurchases | — | — | — | — | — |
| Financing cash flow | 39.9M | 239.6M | 1M | 84M | -558K |
| Net change in cash | -8.9M | 144.5M | -35.6M | -110.8M | 14.6M |
| Free cash flow | 21.4M | 15.7M | -101.2M | -112.2M | -89.5M |
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 | -19.8M | -19.3M | -25.1M | -10.7M | -18.8M | -23.4M | -25M | -19.9M | -20.4M | -22.5M | -23.1M | -27.5M |
| Depreciation & amortization | 1.2M | 1.2M | 1.3M | 1.3M | 1.4M | 1.5M | 1.4M | 1.3M | 1.3M | 1.3M | 1.3M | 1.3M |
| Stock-based compensation | 3.3M | 2.5M | 5.1M | 4.5M | 3.2M | 3.4M | 2.9M | 3.2M | 3M | 2.7M | 2.6M | 2.3M |
| Change in working capital | -7.4M | -4.9M | -7M | -21.4M | -10.8M | -14M | -1.9M | -8.6M | -10.8M | -3.5M | -1.1M | -826K |
| Operating cash flow | -21.9M | -19.5M | -24.7M | -25.3M | -25.3M | -31.3M | -21.4M | -21.3M | -21.3M | -23.5M | -21.2M | -19.5M |
| Capital expenditure | -2.3M | -1.7M | -915K | -665K | -1.2M | -334K | -288K | — | — | — | — | — |
| Investing cash flow | 75.9M | 60.6M | -94.7M | -13M | -8.9M | 28.5M | 24.7M | 19.2M | 27.4M | 32.5M | 4M | 33.3M |
| Dividends paid | — | — | — | — | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — | — | — | — | — |
| Financing cash flow | -1.9M | -1.3M | 86.5M | -2M | -492K | 0 | -77K | -275K | -187K | -19K | -27K | -7K |
| Net change in cash | 52.1M | 39.8M | -32.9M | -40.4M | -34.7M | -2.8M | 3.2M | -2.4M | 6M | 8.9M | -17.2M | 13.8M |
| Free cash flow | -26M | -22.3M | -30.8M | -27M | -27.8M | -26.6M | -23.1M | -21.4M | -21.3M | -23.6M | -21.2M | -19.6M |