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 | -$1.37 | -$1.53 | -11.7% | — | $0 | — |
| Q4 25 | -$1.24 | -$1.13 | +8.9% | — | $0 | — |
| Q2 25 | -$1.16 | -$1.05 | +9.5% | — | $0 | — |
| Q1 25 | -$0.92 | -$1.08 | -17.4% | — | $0 | — |
| Q4 24 | -$1.13 | -$0.99 | +12.4% | — | $0 | — |
| Q3 24 | -$1.22 | -$1.19 | +2.5% | — | $0 | — |
| Q2 24 | -$1.03 | -$1.09 | -5.8% | — | $925K | — |
| Q1 24 | -$1.13 | -$1 | +11.5% | — | $0 | — |
| Q4 23 | -$1.17 | -$1.51 | -29.1% | — | $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 | — | -$4.24 | — | — | $0 | — |
| FY24 | — | -$4.28 | — | — | $925K | — |
| FY23 | — | -$73.8 | — | — | $0 | — |
| FY22 | — | -$37.8 | — | — | $0 | — |
| FY21 | — | -$34.6 | — | — | $0 |
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 | $0 | $0 | $0 | $925K | $0 |
| YoY change | — | 0% | 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 | 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 | 0 | 0 | 0 | 925K | 0 |
| Cost of revenue | — | — | — | — | — |
| Gross profit | — | — | — | — | — |
| Gross margin | — | — | — | — | — |
| Research & development | 42.3M | 47.5M | 44.4M | 60.9M | 75M |
| Selling, general & administrative | 8.3M | 9M | 11.2M | 22.6M | 28.3M |
| Operating expenses | 50.5M | 56.5M | 55.6M | 83.5M | 103.3M |
| Operating income | -50.5M | -56.5M | -55.6M | -82.6M | -103.3M |
| Operating margin | — | — | — | -8.9K% | — |
| Non-operating income, net | — | -7K | 16.3M | -994K | 1.4M |
| Pretax income | -50.5M | -55.2M | -36.3M | -75.1M | -90.4M |
| Income tax | — | — | — | — | — |
| Net income | -50.5M | -55.2M | -36.3M | -75.1M | -90.4M |
| Net margin | — | — | — | -8.1K% | — |
| EBITDA | -49.6M | -52M | -49.4M | -72.5M | -87.3M |
| EPS | -34.6 | -37.8 | -73.8 | -4.28 | -4.24 |
| Diluted EPS | -34.6 | -37.8 | -73.8 | -4.28 | -4.24 |
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 | 925K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cost of revenue | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — | — | — | — | — | — |
| Research & development | 11.6M | 12.2M | 13.5M | 15.7M | 16.3M | 15.3M | 17.8M | 19.4M | 17.2M | 20.6M | 25.1M | 25.5M |
| Selling, general & administrative | 3.6M | 2.5M | 5.2M | 5.3M | 5.9M | 6.2M | 8.2M | 6.7M | 6.6M | 6.9M | 8.2M | 11.2M |
| Operating expenses | 15.2M | 14.7M | 18.8M | 21.1M | 22.2M | 21.5M | 25.9M | 26.1M | 23.8M | 27.5M | 33.3M | 36.7M |
| Operating income | -15.2M | -14.7M | -18.8M | -20.1M | -22.2M | -21.5M | -25.9M | -26.1M | -23.8M | -27.5M | -33.3M | -36.7M |
| Operating margin | — | — | — | -2.2K% | — | — | — | — | — | — | — | — |
| Non-operating income, net | -4K | 16.3M | -459K | -389K | 124K | -270K | 68K | 1.1M | 107K | 122K | 154K | 136K |
| Pretax income | -14.6M | 2.4M | -16.9M | -18.5M | -20.2M | -19.5M | -22.6M | -22M | -21M | -24.7M | -30.9M | -34.5M |
| Income tax | — | — | — | — | — | — | — | — | — | — | — | — |
| Net income | -14.6M | 2.4M | -16.9M | -18.5M | -20.2M | -19.5M | -22.6M | -22M | -21M | -24.7M | -30.9M | -34.5M |
| Net margin | — | — | — | -2K% | — | — | — | — | — | — | — | — |
| EBITDA | -13.7M | 3.2M | -16.1M | -17.7M | -19.4M | -18.7M | -21.9M | -21.2M | -20.2M | -23.9M | -30.1M | -33.7M |
| EPS | -9.88 | — | -1 | -1.09 | -1.19 | — | -1.08 | -1.05 | -0.99 | — | -1.39 | -1.53 |
| Diluted EPS | -9.88 | — | -1 | -1.09 | -1.19 | — | -1.08 | -1.05 | -0.99 | — | -1.39 | -1.53 |
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 | 140.7M | 14.9M | — | — | — | 569.9M |
| Enterprise value | 75.4M | -62.5M | — | — | — | 349.5M |
| Shares outstanding | 1.5M | 1.5M | 491.9K | 17.6M | 21.3M | 21.3M |
| Metric | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|
| P/E | — | — | — | — | — | -6.72 |
| P/B | -1.53 | -0.1 | — | — | — | 2.06 |
| EV/EBITDA | -1.52 | 1.2 | — | — | — | -2.96 |
| Earnings yield | — | — | — | — | — | -14.9% |
| FCF yield | -46% | -370.4% | — | — | — | -8.44% |
| PEG | — | — | — | — | — | -0.15 |
| Metric | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|
| Operating margin | — | — | — | -8.9K% | — | 0% |
| Net margin | — | — | — | -8.1K% | — | 0% |
| ROE | 55% | 37.9% | -19.5% | -24.2% | -34.1% | -45.3% |
| ROA | -49.8% | -50.5% | -16.3% | -22.4% | -31.3% | -28% |
| Return on tangible assets | -49.8% | -50.5% | -16.3% | -22.4% | -31.3% | -45.5% |
| Metric | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|
| Current ratio | 6.81 | 12.7 | 8.72 | 20.8 | 16.6 | 10.6 |
| Quick ratio | 6.81 | 12.7 | 8.72 | 20.8 | 16.6 | 10.6 |
| Debt / equity | -0.06 | -0.03 | 0.09 | 0.05 | 0.04 | 0.04 |
| Debt / assets | 0.05 | 0.04 | 0.07 | 0.04 | 0.04 | 0.04 |
| Net debt / EBITDA | 1.32 | 1.49 | 3.66 | 4.11 | 2.96 | 2.01 |
| Interest coverage | — | -27.6K | -3K | -6.3K | -18.1K | -55.6K |
| Metric | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|
| Revenue per share | 0 | 0 | 0 | 0.05 | 0 | 0 |
| EPS (basic) | -34.6 | -37.8 | -73.8 | -4.28 | -4.24 | -4.24 |
| EPS (diluted) | -34.6 | -37.8 | -73.8 | -4.28 | -4.24 | -5.04 |
| Book value per share | -62.9 | -99.8 | 378.2 | 17.7 | 12.4 | 13.7 |
| FCF per share | -44.4 | -37.7 | -105.2 | -4.07 | -3.67 | -3.89 |
| Cash per share | 48.3 | 56.2 | 400.8 | 17.8 | 12.6 | 11.3 |
| Capex per share | 12.6 | 1.53 | 0.65 | 0.05 | — | — |
| Metric | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|
| Capex / revenue | — | — | — | 87.4% | — | — |
| Capex / operating cash flow | -40.2% | -4.1% | -0.67% | -1.24% | — | — |
| Payout ratio | — | — | — | — | — | 0% |
| — |
| Q4 25 |
|---|
| Q1 26 |
|---|
| Q2 26 |
|---|
| Revenue | $0 | $0 | $0 | $925K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| YoY change | — | — | 0% | +InfinityT% | 0% | 0% | 0% | -100% | 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 | 70.5M | 82M | 197.2M | 312.4M | 269M |
| Receivables | — | — | — | — | — |
| Inventory | — | — | — | — | — |
| Total current assets | 74M | 84.7M | 200.3M | 315.9M | 271.8M |
| Property, plant & equipment | 27.5M | 24.5M | 21M | 18.5M | 15.5M |
| Goodwill & intangibles | — | — | — | — | — |
| Total assets | 101.5M | 109.3M | 222.6M | 335.7M | 288.6M |
| Accounts payable | 5.6M | 625K | 2.6M | 1.3M | 2M |
| Short-term debt | 610K | 702K | 2.9M | 4.1M | 3.7M |
| Total current liabilities | 10.9M | 6.7M | 23M | 15.2M | 16.4M |
| Long-term debt | 4.6M | 4M | 13.4M | 10.1M | 7.3M |
| Total liabilities | 193.4M | 255M | 36.5M | 25.4M | 23.7M |
| Shareholders' equity | -91.9M | -145.7M | 186M | 310.4M | 264.9M |
| Total debt | 5.2M | 4.7M | 16.3M | 14.2M | 11M |
| Net debt | -65.3M | -77.3M | -132M | -122.3M | -92.9M |
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 | Q2 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 | 59M | 197.2M | 169.5M | 153.9M | 139M | 312.4M | 292.6M | 274.5M | 265.4M | 269M | 243.2M | 225.4M |
| Receivables | — | — | — | — | — | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current assets | 62.4M | 200.3M | 174.1M | 159.1M | 143.6M | 315.9M | 296.4M | 279M | 270.5M | 271.8M | 246.7M | 228.9M |
| Property, plant & equipment | 22.8M | 21M | 20.1M | 19.5M | 19.3M | 18.5M | 17.7M | 16.9M | 15.9M | 15.5M | 15M | 14M |
| Goodwill & intangibles | — | — | — | — | — | — | — | — | — | — | — | — |
| Total assets | 85.8M | 222.6M | 195.3M | 179.8M | 164.1M | 335.7M | 315.3M | 297.3M | 287.8M | 288.6M | 263.1M | 244.4M |
| Accounts payable | 1.5M | 2.6M | 1.5M | 1.7M | 1.7M | 1.3M | 3.1M | 2.1M | 1.5M | 2M | 4.7M | 3.3M |
| Short-term debt | 754K | 2.9M | 3.1M | 4.2M | 3.7M | 4.1M | 4.2M | 4.3M | 3.7M | 3.7M | 3M | 3M |
| Total current liabilities | 6.8M | 23M | 11.8M | 13.1M | 15.8M | 15.2M | 14.1M | 15.4M | 14.7M | 16.4M | 18.9M | 21.5M |
| Long-term debt | 3.6M | 13.4M | 12.6M | 11.7M | 10.9M | 10.1M | 9.4M | 8.6M | 7.5M | 7.3M | 6.5M | 5.7M |
| Total liabilities | 254.8M | 36.5M | 24.6M | 24.8M | 26.7M | 25.4M | 23.5M | 24.1M | 22.3M | 23.7M | 25.4M | 27.2M |
| Shareholders' equity | -169.1M | 186M | 170.8M | 155M | 137.4M | 310.4M | 291.8M | 273.3M | 265.5M | 264.9M | 237.8M | 217.1M |
| Total debt | 4.4M | 16.3M | 15.7M | 15.9M | 14.5M | 14.2M | 13.5M | 12.9M | 11.3M | 11M | 9.5M | 8.8M |
| Net debt | -54.7M | -132M | -134.4M | -95.1M | -52.1M | -122.3M | -57.2M | -46M | -59.7M | -92.9M | -114.6M | -103.7M |
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 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Net income | -50.5M | -55.2M | -36.3M | -75.1M | -90.4M |
| Depreciation & amortization | 947K | 3.2M | 3.3M | 3.2M | 3.1M |
| Stock-based compensation | 896K | 1.3M | 1.4M | 8.3M | 14.2M |
| Change in working capital | 2.3M | -4.2M | -775K | -2.9M | -2.3M |
| Operating cash flow | -45.7M | -54.3M | -48.1M | -65.2M | -77.2M |
| Capital expenditure | -18.4M | -2.2M | -321K | -808K | — |
| Investing cash flow | -18.4M | -2.2M | 25.6M | -125.3M | 15.2M |
| Dividends paid | — | — | — | — | — |
| Share repurchases | — | — | — | — | — |
| Financing cash flow | 50.8M | 66.5M | 92.3M | 182.4M | 30.1M |
| Net change in cash | -13.3M | 9.9M | 69.9M | -8M | -31.9M |
| Free cash flow | -64.8M | -55.1M | -51.7M | -71.4M | -78.4M |
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 | 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 | -14.6M | 2.4M | -16.9M | -18.5M | -20.2M | -19.5M | -22.6M | -22M | -21M | -24.7M | -30.9M | -34.5M |
| Depreciation & amortization | 828K | 828K | 825K | 817K | 807K | 798K | 762K | 767K | 776K | 787K | 854K | 820K |
| Stock-based compensation | 386K | 355K | 1M | 2.3M | 2.5M | 2.5M | 4M | 3.4M | 3.4M | 3.4M | 3.6M | 7.9M |
| Change in working capital | 487K | -1.8M | -453K | -450K | -678K | -1.3M | 1.1M | -1.9M | -1.2M | -301K | 1.6M | -1.9M |
| Operating cash flow | -12.7M | -14.4M | -15M | -15.1M | -18.1M | -16.9M | -16.5M | -19.5M | -19.5M | -17.4M | -26.1M | -23.8M |
| Capital expenditure | -82K | -128K | -65K | -460K | -167K | -116K | -780K | — | — | — | — | — |
| Investing cash flow | -82K | 4.9M | 29.9M | -23.6M | -29M | -102.6M | -45M | 7.6M | 22.1M | 29.7M | 46.5M | 6.5M |
| Dividends paid | — | — | — | — | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — | — | — | — | — |
| Financing cash flow | -1.9M | -8K | -7.2M | -16K | -12K | -13K | -15K | -14K | 9.8M | 20.5M | -6K | -5K |
| Net change in cash | -14.7M | -9.5M | 7.8M | -38.8M | -47.1M | -119.5M | -61.6M | -11.9M | 12.4M | 32.8M | 20.4M | -17.3M |
| Free cash flow | -11.7M | -17.1M | -21.7M | -16.4M | -15.7M | -17.6M | -21.6M | -19.6M | -19.6M | -17.6M | -26.4M | -24.1M |