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 | -$0.9 | -$0.84 | +6.7% | — | $0 | — |
| Q1 26 | -$0.92 | -$0.98 | -6.5% | — | $0 | — |
| Q4 25 | -$0.94 | -$0.92 | +2.1% | — | $0 | — |
| Q3 25 | -$0.92 | -$1.1 | -19.6% | — | $0 | — |
| Q2 25 | -$0.76 | -$0.87 | -14.5% | — | $0 | — |
| Q1 25 | -$0.74 | -$0.63 | +14.9% | — | $0 | — |
| Q4 24 | -$0.59 | -$0.72 | -22.0% | — | $0 | — |
| Q3 24 | -$0.45 | -$0.56 | -24.4% | — | $0 | — |
| Q2 24 | -$0.28 | -$0.39 | -39.3% | — | $0 | — |
| Q1 24 | -$0.21 | -$0.22 | -4.8% | — | $0 | — |
| Q4 23 | -$0.27 | -$0.12 | +55.6% | — | $0 | — |
| Q3 23 | -$0.25 | -$0.18 | +28.0% | — | $0 | — |
| Q2 23 | -$0.29 | -$0.23 | +20.7% | — | $0 | — |
| Q1 23 | -$0.28 | -$0.23 | +17.9% | — | $0 | — |
| Q4 22 | -$0.28 | -$0.43 | -53.6% | — | $0 | — |
| Q3 22 | -$0.34 | -$0.27 | +20.6% | — | $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 | — | -$3.53 | — | — | $0 | — |
| FY24 | — | -$1.89 | — | — | $0 | — |
| FY23 | — | -$0.73 | — | — | $0 | — |
| FY22 | — | -$1.7 | — | — | $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 | Q1 24 | Q2 24 | Q3 24 | Q4 24 | Q1 25 | Q2 25 | Q3 25 | Q4 25 | Q1 26 | Q2 26 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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 | 42M | 31.8M | 112.8M | 202.9M |
| Selling, general & administrative | 23M | 22.3M | 30.3M | 42M |
| Operating expenses | 65.1M | 54.1M | 143.1M | 244.8M |
| Operating income | -65.1M | -54.1M | -143.1M | -244.8M |
| Operating margin | — | — | — | — |
| Non-operating income, net | 591.7K | 10.1M | 22.1M | 22.4M |
| Pretax income | -64.5M | -44M | -121M | -229.7M |
| Income tax | 36.4K | 94.4K | 282.2K | 611K |
| Net income | -64.5M | -44.1M | -121.2M | -230.3M |
| Net margin | — | — | — | — |
| EBITDA | -65M | -54.1M | -141.7M | -219.8M |
| EPS | -1.7 | -0.73 | -1.89 | -3.53 |
| Diluted EPS | -1.7 | -0.73 | -1.89 | -3.53 |
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 | 7.6M | 8.1M | 13M | 23.7M | 35.7M | 40.4M | 36.5M | 49.8M | 60.6M | 56M | 54.5M | 50.2M |
| Selling, general & administrative | 5.4M | 6.9M | 6.8M | 6.9M | 7.4M | 9.2M | 11M | 10.9M | 10.8M | 9.2M | 15.5M | 11.4M |
| Operating expenses | 13M | 15M | 19.8M | 30.6M | 43.1M | 49.6M | 47.5M | 60.7M | 71.4M | 65.2M | 70M | 61.7M |
| Operating income | -13M | -15M | -19.8M | -30.6M | -43.1M | -49.6M | -47.5M | -60.7M | -71.4M | -65.2M | -70M | -61.7M |
| Operating margin | — | — | — | — | — | — | — | — | — | — | — | — |
| Non-operating income, net | 1.4M | 7.2M | 5.9M | 5.9M | 7.1M | 3.2M | 7.1M | 6.8M | 4.1M | 4.4M | 3.2M | 2.6M |
| Pretax income | -11.6M | -7.8M | -13.9M | -24.7M | -36M | -46.4M | -40.4M | -56M | -70.6M | -62.8M | -69.1M | -61.7M |
| Income tax | 28.9K | 44.3K | 70.3K | 78.7K | 92.1K | 41.1K | 153K | 95K | 115K | 248K | 622K | 90K |
| Net income | -11.6M | -7.9M | -14M | -24.8M | -36.1M | -46.4M | -40.6M | -56.1M | -70.7M | -63M | -69.7M | -61.8M |
| Net margin | — | — | — | — | — | — | — | — | — | — | — | — |
| EBITDA | -12.4M | -15M | -19.8M | -30.5M | -43.1M | -48.3M | -40M | -53.6M | -66.6M | -60M | -66M | -57.9M |
| EPS | -0.18 | — | -0.22 | -0.39 | -0.56 | -0.72 | -0.63 | -0.87 | -1.1 | — | -0.98 | -0.84 |
| Diluted EPS | -0.18 | — | -0.22 | -0.39 | -0.56 | -0.72 | -0.63 | -0.87 | -1.1 | — | -0.98 | -0.84 |
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 | — | 308.3M | — | — | 849.6M | 983.8M |
| Enterprise value | — | 236.5M | — | — | 531.4M | 589.2M |
| Shares outstanding | — | 29.4M | 49.1M | 62.9M | 64.5M | 64.5M |
| Metric | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|
| P/E | — | — | — | — | — | -3.27 |
| P/B | — | 4.48 | — | — | 2.79 | 2.35 |
| EV/EBITDA | — | -3.64 | — | — | -2.42 | -2.22 |
| Earnings yield | — | — | — | — | — | -30.5% |
| FCF yield | — | -18.1% | — | — | -23.1% | -13.4% |
| PEG | — | — | — | — | — | 0.95 |
| Metric | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|
| Operating margin | — | — | — | — | — | 0% |
| Net margin | — | — | — | — | — | 0% |
| ROE | — | -93.8% | -8.58% | -26.7% | -75.6% | -67.5% |
| ROA | — | -83.9% | -8.37% | -25.4% | -54.3% | -32.4% |
| ROIC | — | 2.1K% | -860.6% | -1.7K% | 1.8K% | 3.7K% |
| Return on tangible assets | — | -83.9% | -8.37% | -25.4% | -54.3% | -46.2% |
| Metric | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|
| Current ratio | — | 9.98 | 51.6 | 21.1 | 9.27 | 12.6 |
| Quick ratio | — | 9.98 | 51.6 | 21.1 | 9.27 | 12.6 |
| Debt / equity | — | 0 | 0.01 | 0.01 | 0.25 | 0.24 |
| Debt / assets | — | 0 | 0.01 | 0.01 | 0.18 | 0.18 |
| Net debt / EBITDA | — | 1.1 | 9.37 | 3.14 | 1.45 | 1.74 |
| Interest coverage | — | — | — | — | -30.7 | -25.2 |
| Effective tax rate | — | 0% | 0% | 0% | 0% | 0% |
| Metric | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|
| Revenue per share | — | 0 | 0 | 0 | 0 | 0 |
| EPS (basic) | — | -1.7 | -0.73 | -1.89 | -3.53 | -3.53 |
| EPS (diluted) | — | -1.7 | -0.73 | -1.89 | -3.53 | -3.84 |
| Book value per share | — | 2.34 | 10.5 | 7.21 | 4.72 | 5.12 |
| FCF per share | — | -1.9 | -0.88 | -1.86 | -3.04 | -3.05 |
| Cash per share | — | 2.46 | 10.4 | 7.13 | 6.11 | 6.31 |
| Capex per share | — | 0 | 0.01 | 0.01 | — | — |
| Metric | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|
| Capex / operating cash flow | — | -0.03% | -0.76% | -0.45% | — | — |
| Payout ratio | — | — | — | — | — | 0% |
| Revenue |
| $0 |
| $0 |
| $0 |
| $0 |
| $0 |
| $0 |
| $0 |
| $0 |
| $0 |
| $0 |
| $0 |
| $0 |
| YoY change | 0% | 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 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash & short-term investments | 8M | 72.1M | 511M | 448M | 394M |
| Receivables | — | — | — | — | — |
| Inventory | — | — | — | — | — |
| Total current assets | 9.6M | 76.5M | 514.2M | 474.3M | 421.7M |
| Property, plant & equipment | 45.7K | 332K | 3.9M | 722.2K | 577K |
| Goodwill & intangibles | — | — | — | — | — |
| Total assets | 9.7M | 76.8M | 526.5M | 477.9M | 424.4M |
| Accounts payable | 1.2M | 66K | 553.5K | 8.7M | 28.4M |
| Short-term debt | 15M | 153.6K | 1.3M | 1.4M | 1.2M |
| Total current liabilities | 21.1M | 7.7M | 10M | 22.5M | 45.5M |
| Long-term debt | 0 | 129K | 2.5M | 1.5M | 74.5M |
| Total liabilities | 21.3M | 8.1M | 13M | 24.5M | 120M |
| Shareholders' equity | -11.6M | 68.8M | 513.5M | 453.4M | 304.5M |
| Total debt | 15M | 282.6K | 3.8M | 2.8M | 75.7M |
| Net debt | 7M | -39.2M | -447.4M | -177.6M | -258.8M |
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 | 496M | 511M | 547.1M | 519.8M | 493.9M | 448M | 480.1M | 425.1M | 380.5M | 394M | 357.9M | 537M |
| Receivables | — | — | — | — | — | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current assets | 500M | 514.2M | 553.6M | 536.9M | 512.3M | 474.3M | 506.3M | 455.5M | 411.2M | 421.7M | 396.6M | 570M |
| Property, plant & equipment | 208.9K | 3.9M | 4.2M | 3.9M | 581.4K | 722.2K | 711K | 667K | 622K | 577K | 532K | 487K |
| Goodwill & intangibles | — | — | — | — | — | — | — | — | — | — | — | — |
| Total assets | 500.2M | 526.5M | 564.1M | 544.9M | 518.2M | 477.9M | 511.3M | 460.1M | 414.3M | 424.4M | 400.4M | 573.9M |
| Accounts payable | 824.1K | 553.5K | 3.1M | 4.8M | 10.3M | 8.7M | 10.1M | 14.9M | 23.8M | 28.4M | 23.4M | 17M |
| Short-term debt | 156.3K | 1.3M | 1.3M | 1.3M | 1.8M | 1.4M | 1.4M | 1.6M | 1.5M | 1.2M | 920K | 1.2M |
| Total current liabilities | 10.3M | 10M | 8.9M | 12.3M | 20.1M | 22.5M | 24M | 27.4M | 48.4M | 45.5M | 46.1M | 45.4M |
| Long-term debt | 13.1K | 2.5M | 2.4M | 2M | 1.9M | 1.5M | 74.2M | 74.2M | 74.2M | 74.5M | 99.9M | 100.3M |
| Total liabilities | 10.6M | 13M | 11.7M | 14.8M | 22.7M | 24.5M | 98.7M | 102.2M | 123.1M | 120M | 146.3M | 145.8M |
| Shareholders' equity | 489.6M | 513.5M | 552.4M | 530M | 495.5M | 453.4M | 412.6M | 357.9M | 291.2M | 304.5M | 254M | 428.2M |
| Total debt | 169.4K | 3.8M | 3.7M | 3.3M | 3.7M | 2.8M | 75.6M | 75.8M | 75.7M | 75.7M | 100.8M | 101.5M |
| Net debt | -318M | -447.4M | -454.8M | -339.4M | -372M | -177.6M | -196M | -230.9M | -275M | -258.8M | -197.7M | -376.4M |
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 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|
| Net income | -64.5M | -44.1M | -121.2M | -230.3M |
| Depreciation & amortization | 12.4K | 13.2K | 1.4M | 2.6M |
| Stock-based compensation | 9.7M | 7.1M | 7.3M | 12.9M |
| Change in working capital | -220.8K | -1.2M | -3.2M | -3.8M |
| Operating cash flow | -54.8M | -37.7M | -116M | -196M |
| Capital expenditure | -16K | -284.6K | -519.5K | — |
| Investing cash flow | -32.3M | -25.2M | -205.6M | 203M |
| Dividends paid | — | — | — | — |
| Share repurchases | 0 | — | -50 | — |
| Financing cash flow | 119.7M | 479.7M | 51.1M | 145.4M |
| Net change in cash | 32.5M | 416.8M | -270.5M | 152.4M |
| Free cash flow | -55.9M | -43.1M | -117.1M | -196M |
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 | -11.6M | -7.9M | -14M | -24.8M | -36.1M | -46.4M | -40.6M | -56.1M | -70.7M | -63M | -69.7M | -61.8M |
| Depreciation & amortization | 3.3K | 3.3K | 22.8K | -277.1K | -586.6K | 1.3M | 378K | 742K | 745K | 751K | 845K | 896K |
| Stock-based compensation | 1.4M | 1.6M | 1.7M | 1.8M | 1.8M | 1.9M | 2.3M | 3.3M | 3.7M | 3.6M | 13.4M | 2.5M |
| Change in working capital | -140.6K | -336.1K | -850K | -498.9K | -879.8K | -987.2K | -2.1M | -608K | 97K | -1.2M | -2.1M | -1.2M |
| Operating cash flow | -10.3M | -6.1M | -13M | -23.1M | -34.4M | -45.6M | -39.9M | -54.5M | -44.5M | -58.8M | -66.3M | -55.6M |
| Capital expenditure | 0 | -284.6K | -211.8K | 235 | -132K | -175.6K | -35K | — | — | — | — | — |
| Investing cash flow | -174.4M | 116.9M | -28.8M | -87.7M | 58.3M | -147.3M | 56.2M | 88.3M | 88.4M | -29.9M | 98K | 322K |
| Dividends paid | — | — | — | — | — | — | — | — | — | — | — | — |
| Share repurchases | 0 | — | -50 | 0 | 0 | 0 | — | — | — | — | — | — |
| Financing cash flow | 0 | 31.2M | 51M | -45 | 91.8K | 0 | 73M | 0 | 0 | 72.4M | 30.5M | 234.1M |
| Net change in cash | -184.7M | 141.9M | 9.2M | -110.8M | 23.9M | -192.9M | 89.4M | 33.7M | 43.9M | -16.3M | -35.7M | 178.8M |
| Free cash flow | -9.3M | -12.6M | -15.2M | -27.9M | -25.4M | -48.6M | -38.2M | -54.5M | -44.5M | -58.8M | -66.3M | -55.6M |