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 | -$0.72 | -$0.81 | -12.5% | — | $9M | — |
| Q1 26 | -$0.76 | -$0.79 | -3.9% | — | $6.3M | — |
| Q4 25 | -$0.92 | -$0.82 | +10.9% | — | $13.6M | — |
| Q3 25 | -$0.85 | -$1.03 | -21.2% | — | $7.9M | — |
| Q2 25 | -$0.74 | -$0.52 | +29.7% | — | $44.1M | — |
| Q1 25 | -$0.76 | -$0.67 | +11.8% | — | $18.5M | — |
| Q4 24 | -$0.67 | -$0.75 | -11.9% | — | $13.3M | — |
| Q3 24 | -$0.68 | -$0.67 | +1.5% | — | $12.6M | — |
| Q2 24 | -$0.63 | -$0.71 | -12.7% | — | $12.1M | — |
| Q1 24 | -$0.79 | -$0.76 | +3.8% | — | $16.6M | — |
| Q4 23 | -$0.5 | -$0.77 | -54.0% | — | $15.2M | — |
| Q3 23 | -$0.76 | -$0.68 | +10.5% | — | $18.5M | — |
| Q2 23 | -$0.56 | -$0.45 | +19.6% | — | $30.7M | — |
| Q1 23 | -$0.87 | -$0.75 | +13.8% | — | $12.7M | — |
| Q4 22 | -$0.79 | -$0.87 | -10.1% | — | $6.8M | — |
| Q3 22 | -$0.98 | -$0.9 | +8.2% | — | $10.8M | — |
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 | — | -$3.05 | — | — | $84M | — |
| FY24 | — | -$2.88 | — | — | $54.5M | — |
| FY23 | — | -$2.65 | — | — | $77M | — |
| FY22 | — | -$3.71 | — | — | $38.6M | — |
| 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 | $37.4M | $31.1M | $17.8M | $29.8M | $38.6M | $77M | $54.5M | $84M |
| YoY change | — | -16.9% | -42.7% | +66.9% | +29.8% | +99.3% | -29.1% | +54% |
Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.
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 | 37.4M | 31.1M | 17.8M | 29.8M | 38.6M | 77M | 54.5M | 84M |
| Cost of revenue | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — | — |
| Research & development | 40.5M | 45M | 66.5M | 116.4M | 184.5M | 189.1M | 221.6M | 316.9M |
| Selling, general & administrative | 6.7M | 8.3M | 16.3M | 31.2M | 38M | 42.9M | 45.9M | 52.7M |
| Operating expenses | 47.2M | 53.4M | 82.8M | 147.6M | 222.5M | 232.1M | 267.6M | 369.6M |
| Operating income | -9.7M | -22.2M | -65M | -117.9M | -183.9M | -155.1M | -213M | -285.7M |
| Operating margin | -26% | -71.5% | -364.7% | -396.3% | -476% | -201.4% | -390.5% | -340.2% |
| Non-operating income, net | — | — | — | — | — | — | — | — |
| Pretax income | -8.9M | -21.5M | -63.8M | -117.1M | -180.4M | -143.9M | -193.3M | -263.7M |
| Income tax | 507K | 239K | -20.5M | 131K | 0 | 0 | 270K | 760K |
| Net income | -9.4M | -21.7M | -43.2M | -117.2M | -180.4M | -143.9M | -193.6M | -264.5M |
| Net margin | -25.2% | -69.7% | -242.7% | -393.9% | -466.9% | -187% | -354.9% | -314.9% |
| EBITDA | -6.8M | -19.9M | -62.8M | -111.8M | -173.1M | -141.4M | -196.6M | -266.8M |
| EPS | -0.59 | -1.04 | -2.76 | -2.73 | -3.71 | -2.65 | -2.88 | -3.05 |
| Diluted EPS | -0.59 | -1.04 | -2.76 | -2.73 | -3.71 | -2.65 | -2.88 | -3.05 |
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 | 18.5M | 15.2M | 16.6M | 12.1M | 12.6M | 13.3M | 18.5M | 44.1M | 7.9M | 13.6M | 6.3M | 9M |
| Cost of revenue | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — | — | — | — | — | — |
| Research & development | 47.9M | 49.7M | 50M | 48.9M | 55.5M | 67.2M | 69.7M | 78.1M | 86.1M | 83M | 84.1M | 87.7M |
| Selling, general & administrative | 10.6M | 10.8M | 11.8M | 11.7M | 11.7M | 10.7M | 11.7M | 14.3M | 13.2M | 13.6M | 14.6M | 15.6M |
| Operating expenses | 58.5M | 60.5M | 61.8M | 60.6M | 67.2M | 77.9M | 81.3M | 92.4M | 99.3M | 96.7M | 98.7M | 103.2M |
| Operating income | -40M | -45.3M | -45.2M | -48.5M | -54.6M | -64.7M | -62.9M | -48.3M | -91.4M | -83.1M | -92.5M | -94.2M |
| Operating margin | -216.7% | -299.1% | -272.6% | -401.4% | -433.8% | -486.7% | -340.7% | -109.7% | -1.2K% | -612% | -1.5K% | -1K% |
| Non-operating income, net | — | — | — | — | — | — | — | — | — | — | — | — |
| Pretax income | -37M | -42M | -41.4M | -44.5M | -48.9M | -58.5M | -56.4M | -42.7M | -86.4M | -78.2M | -87.2M | -89.8M |
| Income tax | 0 | — | 90K | 90K | 82K | 8K | 0 | 760K | 0 | 0 | — | -271K |
| Net income | -37M | -42M | -41.5M | -44.5M | -49M | -58.5M | -56.4M | -43.5M | -86.4M | -78.2M | -87.2M | -89.5M |
| Net margin | -200.3% | -276.8% | -250.3% | -368.4% | -388.9% | -440.7% | -305.4% | -98.7% | -1.1K% | -576.1% | -1.4K% | -990.1% |
| EBITDA | -36.6M | -41.6M | -41.3M | -44.4M | -50.5M | -60.4M | -58.7M | -43.2M | -86.4M | -78.5M | -88.7M | -90.4M |
| EPS | -0.68 | -0.77 | -0.76 | -0.71 | -0.67 | -0.75 | -0.67 | -0.52 | -1.03 | -0.82 | -0.79 | -0.81 |
| Diluted EPS | -0.68 | -0.77 | -0.76 | -0.71 | -0.67 | -0.75 | -0.67 | -0.52 | -1.03 | -0.82 | -0.79 | -0.81 |
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 | — | — | — | — | — | — | — | — | 2.5B |
| Enterprise value | — | — | — | — | — | — | — | — | 2B |
| Shares outstanding | 16.1M | 20.8M | 15.7M | 42.9M | 48.6M | 54.3M | 67.1M | 86.7M | 86.7M |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| P/E | — | — | — | — | — | — | — | — | -7.76 |
| P/S | — | — | — | — | — | — | — | — | 66.4 |
| P/B | — | — | — | — | — | — | — | — | 6.06 |
| EV/EBITDA | — | — | — | — | — | — | — | — | -5.67 |
| EV/Sales | — | — | — | — | — | — | — | — | 54.5 |
| Earnings yield | — | — | — | — | — | — | — | — | -12.9% |
| FCF yield | — | — | — | — | — | — | — | — | -6.7% |
| PEG | — | — | — | — | — | — | — | — | -0.14 |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Operating margin | -26% | -71.5% | -364.7% | -396.3% | -476% | -201.4% | -390.5% | -340.2% | -1K% |
| Net margin | -25.2% | -69.7% | -242.7% | -393.9% | -466.9% | -187% | -354.9% | -314.9% | 0% |
| ROE | 25.6% | 37.6% | -14.9% | -34.2% | -59.4% | -71.8% | -36.7% | -49.1% | -80.3% |
| ROA | -20.8% | -49.3% | -10.9% | -24.6% | -43.3% | -40.5% | -28.9% | -38.4% | -40.1% |
| ROIC | 12.8% | 23.3% | -712.5% | -197.7% | -2.8K% | 273% | 392.4% | -18.6K% | -18.6K% |
| Return on tangible assets | -20.8% | -49.3% | -10.9% | -24.6% | -43.3% | -40.5% | -28.9% | -38.4% | -63.7% |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Current ratio | 1.24 | 2.44 | 6.7 | 4.7 | 4.51 | 3.4 | 6.46 | 7.02 | 6.34 |
| Quick ratio | 1.24 | 2.44 | 6.7 | 4.7 | 4.51 | 3.4 | 6.46 | 7.02 | 6.34 |
| Debt / equity | — | — | 0 | 0.04 | 0.04 | 0.15 | 0.05 | 0.1 | 0.14 |
| Debt / assets | — | — | 0 | 0.03 | 0.03 | 0.09 | 0.04 | 0.08 | 0.11 |
| Net debt / EBITDA | — | — | 4.48 | 2.53 | 1.72 | 1.82 | 2.96 | 2.01 | 1.12 |
| Effective tax rate | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Revenue per share | 2.33 | 1.5 | 1.14 | 0.69 | 0.79 | 1.42 | 0.81 | 0.97 | 0.37 |
| EPS (basic) | -0.59 | -1.04 | -2.76 | -2.73 | -3.71 | -2.65 | -2.88 | -3.05 | -3.05 |
| EPS (diluted) | -0.59 | -1.04 | -2.76 | -2.73 | -3.71 | -2.65 | -2.88 | -3.05 | -3.46 |
| Book value per share | -2.29 | -2.78 | 18.5 | 7.98 | 6.25 | 3.69 | 7.85 | 6.22 | 3.88 |
| FCF per share | -2.07 | -0.05 | -0.3 | -2.1 | -3.54 | -1.65 | -2.71 | -3.04 | -2.74 |
| Cash per share | 2.42 | 1.82 | 17.9 | 6.89 | 6.36 | 5.3 | 9.08 | 6.84 | 4.27 |
| Capex per share | 0.1 | 0.08 | 0.29 | 0.13 | 0.25 | 0.15 | 0.14 | — | — |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Capex / revenue | 4.24% | 5.31% | 25.5% | 19% | 31.7% | 10.9% | 17% | — | — |
| Capex / operating cash flow | -5.03% | -100.2% | 348.6% | -6.51% | -7.35% | -10.3% | -5.37% | — | — |
| Payout ratio | — | — | — | — | — | — | — | — | 0% |
| — |
| -$2.73 |
| — |
| — |
| $29.8M |
| — |
| FY20 | — | -$2.76 | — | — | $17.8M | — |
| FY19 | — | -$1.04 | — | — | $31.1M | — |
| FY18 | — | -$0.59 | — | — | $37.4M | — |
| 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 | $18.5M | $15.2M | $16.6M | $12.1M | $12.6M | $13.3M | $18.5M | $44.1M | $7.9M | $13.6M | $6.3M | $9M |
| YoY change | +71.1% | +123.5% | +30.7% | -60.6% | -31.8% | -12.4% | +11.3% | +264.3% | -37.3% | +2.21% | -66.1% | -79.5% |
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 | 39M | 37.7M | 281.1M | 295.7M | 309.1M | 287.9M | 609.6M | 592.9M |
| Receivables | — | — | 0 | 6M | 0 | — | — | — |
| Inventory | — | — | — | — | — | — | — | — |
| Total current assets | 40.7M | 39.4M | 298.4M | 311.1M | 318.4M | 295.5M | 619.4M | 606.8M |
| Property, plant & equipment | 4.4M | 3.9M | 6.7M | 25.3M | 29.5M | 48M | 45.9M | 73M |
| Goodwill & intangibles | — | — | — | — | — | — | — | — |
| Total assets | 45.4M | 44M | 396.3M | 476.8M | 416.8M | 355.6M | 669.3M | 688.1M |
| Accounts payable | 1.3M | 1.6M | 3.4M | 6.7M | 5.1M | 6.4M | 11.5M | 11.2M |
| Short-term debt | — | — | — | 3.8M | 5.5M | 7.5M | 8M | 2.8M |
| Total current liabilities | 32.8M | 16.1M | 44.5M | 66.3M | 70.7M | 87M | 95.9M | 86.5M |
| Long-term debt | — | — | 0 | 9.2M | 6.4M | 23.1M | 20.3M | 52.9M |
| Total liabilities | 82.2M | 101.8M | 106.1M | 134.5M | 113.1M | 155.1M | 142.3M | 149.4M |
| Shareholders' equity | -36.8M | -57.7M | 290.3M | 342.3M | 303.7M | 200.5M | 527M | 538.7M |
| Total debt | — | — | 0 | 13M | 12M | 30.6M | 28.3M | 55.7M |
| Net debt | — | — | -119.4M | -67.5M | -52.5M | -24M | -81.7M | -191.2M |
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 | 258.9M | 287.9M | 244M | 443.1M | 448.1M | 609.6M | 549.7M | 485.8M | 428.8M | 592.9M | 540.7M | 443.5M |
| Receivables | 2M | — | — | — | — | — | — | 19M | — | — | — | — |
| Inventory | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current assets | 267.9M | 295.5M | 251M | 450.2M | 456M | 619.4M | 563.7M | 515.3M | 440.6M | 606.8M | 554.4M | 456.5M |
| Property, plant & equipment | 25.6M | 48M | 47.2M | 47.4M | 44.2M | 45.9M | 44.8M | 69M | 73.5M | 73M | 73.4M | 70.1M |
| Goodwill & intangibles | — | — | — | — | — | — | — | — | — | — | — | — |
| Total assets | 308.2M | 355.6M | 312.7M | 511M | 513.6M | 669.3M | 615M | 591.6M | 522.5M | 688.1M | 636.1M | 535.5M |
| Accounts payable | 2.2M | 6.4M | 5.9M | 2.8M | 3.9M | 11.5M | 8.4M | 6M | 8.6M | 11.2M | 10.3M | 12.2M |
| Short-term debt | 5.4M | 7.5M | 7.3M | 7.9M | 6.6M | 8M | 6.6M | 5.2M | 3.8M | 2.8M | 3.2M | 3.2M |
| Total current liabilities | 61.5M | 87M | 87.6M | 80.8M | 86.3M | 95.9M | 90M | 75.6M | 82.3M | 86.5M | 92.2M | 72M |
| Long-term debt | 2.6M | 23.1M | 21.8M | 20.9M | 20.6M | 20.3M | 20M | 46.7M | 52.7M | 52.9M | 55.5M | 54.9M |
| Total liabilities | 74.4M | 155.1M | 143.9M | 140.3M | 136.7M | 142.3M | 134.1M | 144M | 150.2M | 149.4M | 155.2M | 132.9M |
| Shareholders' equity | 233.8M | 200.5M | 168.7M | 370.7M | 376.9M | 527M | 480.9M | 447.6M | 372.3M | 538.7M | 480.9M | 402.6M |
| Total debt | 8M | 30.6M | 29.2M | 28.8M | 27.1M | 28.3M | 26.6M | 51.9M | 56.5M | 55.7M | 58.7M | 58.1M |
| Net debt | -34.3M | -24M | -20.7M | -88M | -71.9M | -81.7M | -49.3M | -32.3M | -22M | -191.2M | -12.5M | -9.5M |
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 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|
| Net income | -9.4M | -21.7M | -43.2M | -117.2M | -180.4M | -143.9M | -193.6M | -264.5M |
| Depreciation & amortization | 3M | 2.4M | 2.2M | 6.1M | 10.8M | 13.7M | 16.4M | 18.9M |
| Stock-based compensation | 431K | 510K | 4.3M | 15.8M | 28.1M | 33.7M | 33.9M | 38M |
| Change in working capital | -25.6M | 17.2M | 38.1M | 8.3M | -25.4M | 14.9M | -29.8M | -42.7M |
| Operating cash flow | -31.6M | -1.6M | 1.3M | -87M | -166.6M | -81.8M | -172.7M | -249.5M |
| Capital expenditure | -1.6M | -1.7M | -4.6M | -5.7M | -12.2M | -8.4M | -9.3M | — |
| Investing cash flow | 40M | 8.5M | -254.4M | -108.3M | 27.2M | 68.3M | -257.7M | 161.9M |
| Dividends paid | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — |
| Financing cash flow | -2K | -16K | 338.1M | 150.2M | 114.2M | 0 | 478.5M | 234.8M |
| Net change in cash | 8.4M | 6.8M | 85M | -45.1M | -25.3M | -13.5M | 48.1M | 147.2M |
| Free cash flow | -33.3M | -1.1M | -4.6M | -90M | -172.1M | -89.8M | -181.9M | -263.5M |
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 | -37M | -42M | -41.5M | -44.5M | -49M | -58.5M | -56.4M | -43.5M | -86.4M | -78.2M | -87.2M | -89.5M |
| Depreciation & amortization | 3.4M | 3.8M | 3.9M | 4.1M | 4.1M | 4.3M | 4.1M | 5.1M | 5M | 4.6M | 3.8M | 3.9M |
| Stock-based compensation | 8.4M | 8M | 7.8M | 8.8M | 8.8M | 8.5M | 8.7M | 10.4M | 9.8M | 9.1M | 9.4M | 11.4M |
| Change in working capital | -21.5M | 56.2M | -15M | 734K | -8.2M | -7.3M | -14.7M | -9.8M | -6.9M | -11.3M | -1.5M | -5.7M |
| Operating cash flow | -46.7M | 26M | -44.8M | -30.9M | -44.2M | -53.1M | -58.2M | -37.7M | -57.4M | -67.8M | -71.9M | -96.6M |
| Capital expenditure | -2.5M | -2.6M | -2.9M | -1.9M | -2.3M | -2.1M | -3.5M | -2.7M | — | — | — | — |
| Investing cash flow | 22.8M | -14.4M | 35.5M | -131.1M | -21.3M | -140.8M | 25.5M | 71.5M | 53.2M | 5.5M | -122.8M | 94.9M |
| Dividends paid | — | — | — | — | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — | — | — | — | — |
| Financing cash flow | 0 | 0 | — | — | 41.9M | 199.1M | — | 0 | 0 | 234.8M | 18M | 0 |
| Net change in cash | -23.9M | 11.6M | -9.3M | -161.9M | -23.7M | 5.2M | -32.7M | 33.8M | -4.2M | 172.4M | -176.7M | -1.6M |
| Free cash flow | -43.6M | 24.1M | -44.8M | -41.6M | -44.5M | -50.9M | -64.6M | -65.8M | -60.1M | -73M | -73M | -98.5M |