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 | -$0.36 | -$0.54 | -50.0% | — | $0 | — |
| Q4 25 | -$0.29 | -$0.37 | -27.6% | — | $0 | — |
| Q3 25 | -$0.3 | -$0.29 | +3.3% | — | $0 | — |
| Q2 25 | -$0.16 | -$0.31 | -93.8% | — | $0 | — |
| Q1 25 | -$0.45 | -$0.43 | +4.4% | — | $0 | — |
| Q4 24 | -$0.4 | -$0.35 | +12.5% | — | $0 | — |
| Q3 24 | -$0.36 | -$0.39 | -8.3% | — | $0 | — |
| Q2 24 | -$0.51 | -$0.34 | +33.3% | — | $0 | — |
| Q1 24 | -$0.56 | -$0.58 | -3.6% | — | $0 | — |
| Q4 23 | -$0.54 | -$0.57 | -5.6% | — | $0 | — |
| Q3 23 | -$0.67 | -$0.52 | +22.4% | — | $0 | — |
| Q2 23 | -$0.68 | -$0.68 | 0.0% | — | $0 | — |
| Q1 23 | -$0.7 | -$0.63 | +10.0% | — | $0 | — |
| Q4 22 | -$0.64 | -$0.67 | -4.7% | — | $0 | — |
| Q3 22 | -$0.62 | -$0.58 | +6.5% | — | $0 | — |
| Q2 22 | -$0.59 | -$0.61 | -3.4% | — | $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 | — | -$1.41 | — | — | $0 | — |
| FY24 | — | -$1.6 | — | — | $0 | — |
| FY23 | — | -$2.4 | — | — | $0 | — |
| FY22 | — | -$2.61 | — | — | $0 | — |
| FY21 | — |
Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.
| Period | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $6.5M | $115K | $0 | $0 | $0 | $0 | $0 | $0 |
| YoY change | — | -98.2% | -100% | 0% | 0% | 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 |
|---|
Revenue, gross profit, operating income, and net income per period.
Click a row to chart it; unreported figures show a dash.
| Period | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 6.5M | 115K | 0 | 0 | 0 | 0 | 0 | 0 |
| Cost of revenue | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — | — |
| Research & development | 4.3M | 17.2M | 36.2M | 63.4M | 90.9M | 96.8M | 96.7M | 90.4M |
| Selling, general & administrative | 2.7M | 5.2M | 15.3M | 23M | 28.1M | 34.9M | 31.4M | 31.6M |
| Operating expenses | 6.9M | 22.5M | 51.5M | 86.4M | 119M | 131.7M | 128.2M | 122M |
| Operating income | -356.4K | -22.3M | -51.5M | -86.4M | -119M | -131.7M | -128.2M | -122M |
| Operating margin | -5.44% | -19.4K% | — | — | — | — | — | — |
| Non-operating income, net | — | 1.4M | -40.2M | -16K | -470K | 42K | 87K | 2.4M |
| Pretax income | -274.5K | -21.1M | -91.4M | -86.1M | -113.8M | -117.5M | -108.8M | -104.1M |
| Income tax | — | — | — | — | — | — | — | — |
| Net income | -274.5K | -21.1M | -91.4M | -86.1M | -113.8M | -117.5M | -108.8M | -104.1M |
| Net margin | -4.19% | -18.3K% | — | — | — | — | — | — |
| EBITDA | -91.3K | -21.6M | -10.6M | -84.7M | -116.3M | -125.8M | -119M | -112.8M |
| EPS | -0.05 | -2.35 | -5.44 | -2.62 | -2.61 | -2.4 | -1.6 | -1.41 |
| Diluted EPS | -0.05 | -2.35 | -5.44 | -2.62 | -2.61 | -2.4 | -1.6 | -1.41 |
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 | 22.2M | 23.3M | 25.2M | 23.1M | 25.3M | 23.1M | 24.2M | 20.8M | 20.2M | 25.3M | 25M | 29M |
| Selling, general & administrative | 7.1M | 7.9M | 7.5M | 7.6M | 8.5M | 7.8M | 12.4M | 6.4M | 7.1M | 5.7M | 5.9M | 14.1M |
| Operating expenses | 29.3M | 31.2M | 32.8M | 30.7M | 33.8M | 30.9M | 36.6M | 27.2M | 27.3M | 31M | 30.9M | 43.1M |
| Operating income | -29.3M | -31.2M | -32.8M | -30.7M | -33.8M | -30.9M | -36.6M | -27.2M | -27.3M | -31M | -30.9M | -43.1M |
| Operating margin | — | — | — | — | — | — | — | — | — | — | — | — |
| Non-operating income, net | 33K | -25K | -2K | -2K | -3K | 94K | 205K | 239K | 1.7M | 256K | 206K | 222K |
| Pretax income | -25.6M | -27.8M | -29.5M | -25M | -28.3M | -25.9M | -32M | -23M | -21.7M | -27.4M | -27.8M | -40.4M |
| Income tax | — | — | — | — | — | — | — | — | — | — | — | — |
| Net income | -25.6M | -27.8M | -29.5M | -25M | -28.3M | -25.9M | -32M | -23M | -21.7M | -27.4M | -27.8M | -40.4M |
| Net margin | — | — | — | — | — | — | — | — | — | — | — | — |
| EBITDA | -27.3M | -28.9M | -30.5M | -28.5M | -31.4M | -28.6M | -34.3M | -24.9M | -25M | -28.7M | -28.5M | -40.4M |
| EPS | -0.52 | — | -0.58 | -0.34 | -0.39 | -0.35 | -0.43 | -0.31 | -0.29 | -0.37 | -0.37 | -0.54 |
| Diluted EPS | -0.52 | — | -0.58 | -0.34 | -0.39 | -0.35 | -0.43 | -0.31 | -0.29 | -0.37 | -0.37 | -0.54 |
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 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Market cap | — | — | — | — | — | — | — | 136.9M | 191.2M |
| Enterprise value | — | — | — | — | — | — | — | -63M | 87.7M |
| Shares outstanding | 5M | 9M | 16.8M | 32.9M | 43.6M | 49M | 67.9M | 74M | 74M |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| P/E | — | — | — | — | — | — | — | — | -1.9 |
| P/B | — | — | — | — | — | — | — | 0.44 | 0.79 |
| EV/EBITDA | — | — | — | — | — | — | — | 0.56 | -0.77 |
| Earnings yield | — | — | — | — | — | — | — | — | -52.6% |
| FCF yield | — | — | — | — | — | — | — | -65.7% | -28.8% |
| PEG | — | — | — | — | — | — | — | — | -0.03 |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Operating margin | -5.44% | -19.4K% | — | — | — | — | — | — | 0% |
| Net margin | -4.19% | -18.3K% | — | — | — | — | — | — | 0% |
| ROE | 5.09% | 82.7% | -28.4% | -34.3% | -30.6% | -43% | -26.7% | -33.3% | -38.8% |
| ROA | -2.86% | -43.5% | -27.1% | -31.4% | -24.1% | -31% | -21.7% | -25.8% | -19.6% |
| Return on tangible assets | -2.86% | -43.5% | -27.1% | -31.4% | -24.1% | -31% | -21.7% | -25.8% | -34.7% |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Current ratio | 3.96 | 4.59 | 36.1 | 19 | 16.4 | 10.8 | 14.4 | 12.7 | 7.98 |
| Quick ratio | 3.96 | 4.59 | 36.1 | 19 | 16.4 | 10.8 | 14.4 | 12.7 | 7.98 |
| Debt / equity | 0 | -0.29 | 0.03 | 0.05 | 0.22 | 0.32 | 0.2 | 0.24 | 0.3 |
| Debt / assets | 0 | 0.15 | 0.03 | 0.05 | 0.18 | 0.23 | 0.16 | 0.19 | 0.22 |
| Net debt / EBITDA | 86.2 | 1.37 | 29 | 2.66 | 2.31 | 1.27 | 1.57 | 1.77 | 0.89 |
| Interest coverage | — | -43.6 | — | — | — | — | — | — | — |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Revenue per share | 1.3 | 0.01 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (basic) | -0.05 | -2.35 | -5.44 | -2.62 | -2.61 | -2.4 | -1.6 | -1.41 | -1.41 |
| EPS (diluted) | -0.05 | -2.35 | -5.44 | -2.62 | -2.61 | -2.4 | -1.6 | -1.41 | -1.59 |
| Book value per share | -1.07 | -2.84 | 19.1 | 7.64 | 8.53 | 5.58 | 6.01 | 4.22 | 3.46 |
| FCF per share | -1.18 | -2.26 | -3.04 | -2.22 | -2.39 | -2.33 | -1.53 | -1.22 | -1.26 |
| Cash per share | 1.56 | 4.12 | 18.7 | 7.25 | 8.07 | 5.06 | 3.94 | 3.73 | 2.55 |
| Capex per share | 0.15 | 0.21 | 0.45 | 0.15 | 1.08 | 0.57 | 0.06 | — | — |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Capex / revenue | 11.6% | 1.7K% | — | — | — | — | — | — | — |
| Capex / operating cash flow | -14.6% | -10.6% | -18.5% | -7.53% | -85.4% | -33.9% | -4.82% | — | — |
| Payout ratio | — | — | — | — | — | — | — | — | 0% |
| -$2.62 |
| — |
| — |
| $0 |
| — |
| FY20 | — | -$5.44 | — | — | $0 | — |
| FY19 | — | -$2.35 | — | — | $115K | — |
| FY18 | — | -$0.05 | — | — | $6.5M | — |
| 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 |
| 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 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|
| Cash & short-term investments | 7.9M | 37M | 314.9M | 238.1M | 352.1M | 248.2M | 267.4M | 276.3M |
| Receivables | — | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — | — |
| Total current assets | 8.2M | 37.5M | 318.8M | 245.8M | 360.7M | 253.1M | 273.3M | 282.5M |
| Property, plant & equipment | 1.3M | 10.2M | 17.9M | 24.5M | 107.7M | 119.3M | 110.7M | 101.2M |
| Goodwill & intangibles | — | — | — | — | — | — | — | — |
| Total assets | 9.6M | 48.4M | 337.6M | 273.9M | 472.9M | 378.9M | 501.2M | 404.2M |
| Accounts payable | 367.2K | 1.9M | 1.2M | 1.1M | 1.8M | 3.7M | 638K | 2.1M |
| Short-term debt | — | 1.5M | 1.4M | 2.5M | 4.2M | 6.1M | 6M | 6.9M |
| Total current liabilities | 2.1M | 8.2M | 8.8M | 12.9M | 22M | 23.3M | 18.9M | 22.3M |
| Long-term debt | 0 | 5.8M | 7.5M | 10M | 78.7M | 82.3M | 74.2M | 69.5M |
| Total liabilities | 15M | 73.9M | 16.4M | 22.9M | 100.7M | 105.6M | 93.2M | 91.9M |
| Shareholders' equity | -5.4M | -25.5M | 321.2M | 251M | 372.2M | 273.3M | 408M | 312.3M |
| Total debt | 0 | 7.3M | 8.9M | 12.5M | 82.9M | 88.3M | 80.3M | 76.4M |
| Net debt | -7.9M | -13.3M | -87.8M | -48.4M | 45.4M | 57.3M | 52.4M | 36.8M |
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 | 275.6M | 248.2M | 437.4M | 324.8M | 283.1M | 267.4M | 265.5M | 289.7M | 282.3M | 276.3M | 230.4M | 182.8M |
| Receivables | — | — | — | — | — | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current assets | 281.2M | 253.1M | 442.8M | 331.8M | 290.1M | 273.3M | 271.6M | 296.6M | 289.3M | 282.5M | 235.9M | 188M |
| Property, plant & equipment | 118.2M | 119.3M | 117.9M | 116.9M | 115M | 110.7M | 108.2M | 105.4M | 102M | 101.2M | 98.3M | 87.7M |
| Goodwill & intangibles | — | — | — | — | — | — | — | — | — | — | — | — |
| Total assets | 405.9M | 378.9M | 576.9M | 554.1M | 532M | 501.2M | 470.6M | 448.3M | 427.2M | 404.2M | 372.1M | 337.6M |
| Accounts payable | 4.3M | 3.7M | 3.2M | 3.8M | 1.9M | 638K | 1.5M | 1.5M | 1.4M | 2.1M | 1.6M | 3.8M |
| Short-term debt | 6.1M | 6.1M | 6.1M | 5.5M | 6.8M | 6M | 6M | 6.9M | 6.4M | 6.9M | 7.1M | 7.3M |
| Total current liabilities | 25.6M | 23.3M | 22.2M | 20.9M | 22.5M | 18.9M | 18.8M | 18.9M | 19M | 22.3M | 18.2M | 23.6M |
| Long-term debt | 83.4M | 82.3M | 81.1M | 80M | 78.7M | 74.2M | 73M | 71.6M | 70.3M | 69.5M | 67.9M | 66.3M |
| Total liabilities | 109M | 105.6M | 103.3M | 100.9M | 101.2M | 93.2M | 91.8M | 90.6M | 89.3M | 91.9M | 86.2M | 89.9M |
| Shareholders' equity | 296.8M | 273.3M | 473.7M | 453.2M | 430.9M | 408M | 378.8M | 357.7M | 337.9M | 312.3M | 285.9M | 247.7M |
| Total debt | 89.5M | 88.3M | 87.2M | 85.6M | 85.4M | 80.3M | 78.9M | 78.5M | 76.6M | 76.4M | 75M | 73.5M |
| Net debt | 51.2M | 57.3M | -163.1M | -34.8M | 28.5M | 52.4M | 26.3M | 25.1M | 16.5M | 36.8M | 47.6M | 48.6M |
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 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|
| Net income | -274.5K | -21.1M | -91.4M | -86.1M | -113.8M | -117.5M | -108.8M | -104.1M |
| Depreciation & amortization | 183.2K | 401K | 786K | 1.8M | 2.6M | 5.9M | 9.2M | 9.2M |
| Stock-based compensation | 182.5K | 947K | 6.7M | 14.5M | 16.9M | 17.2M | 16.7M | 8.6M |
| Change in working capital | -5.3M | 2.2M | 2.8M | 2.8M | 35.2M | 9.2M | -10.8M | -2.5M |
| Operating cash flow | -5.2M | -18.2M | -40.6M | -66.7M | -55.2M | -83M | -91.4M | -88.7M |
| Capital expenditure | -757.9K | -1.9M | -7.5M | -5M | -47.1M | -28.1M | -4.4M | — |
| Investing cash flow | -757.9K | -18.3M | -210.1M | 32.5M | -184.7M | 79M | -129.6M | 101.5M |
| Dividends paid | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — |
| Financing cash flow | 0 | 49.5M | 393.7M | -277K | 217.2M | 0 | 225.1M | 0 |
| Net change in cash | -5.9M | 13M | 143.1M | -34.5M | -22.7M | -4M | 4.1M | 12.8M |
| Free cash flow | -5.9M | -20.3M | -51M | -73M | -104.1M | -114.3M | -104.1M | -89.9M |
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 | Q1 24 | Q2 24 | Q3 24 | Q4 24 | Q1 25 | Q2 25 | Q3 25 | Q4 25 | Q1 26 | Q2 26 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net income | -25.6M | -27.8M | -29.5M | -25M | -28.3M | -25.9M | -32M | -23M | -21.7M | -27.4M | -27.8M | -40.4M |
| Depreciation & amortization | 2M | 2.3M | 2.3M | 2.3M | 2.3M | 2.3M | 2.3M | 2.3M | 2.3M | 2.3M | 2.3M | 2.7M |
| Stock-based compensation | 4.3M | 3.5M | 4.4M | 4.4M | 4.1M | 3.9M | 2.8M | 2.1M | 1.8M | 1.9M | 1.9M | 1.9M |
| Change in working capital | 518K | -530K | -4.2M | -1.3M | 6K | -5.3M | -1.2M | -1.1M | -1.5M | 1.2M | -5.3M | 3.1M |
| Operating cash flow | -18.3M | -22M | -26.5M | -19M | -21.4M | -24.5M | -27.5M | -18.8M | -18.7M | -21.6M | -28.2M | -24.2M |
| Capital expenditure | -6.2M | -6.8M | -175K | -2.4M | -777K | -1.1M | -518K | — | — | — | — | — |
| Investing cash flow | 29.4M | 15.8M | 21.5M | -107.6M | -38.9M | -4.5M | 54.3M | 19.6M | 25.4M | 1.7M | 16.3M | 21.3M |
| Dividends paid | — | — | — | — | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — | — | — | — | — |
| Financing cash flow | 0 | 0 | 225.7M | -615K | 0 | 0 | 0 | 0 | 0 | 0 | — | — |
| Net change in cash | 11.1M | -6.1M | 220.7M | -127.3M | -60.3M | -29M | 26.8M | 877K | 6.7M | -20M | -11.9M | -2.9M |
| Free cash flow | -26.5M | -30.2M | -28.7M | -24.2M | -25.3M | -25.9M | -30.1M | -18.9M | -18.7M | -22.2M | -28.6M | -24.4M |