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 % |
|---|---|---|---|---|---|---|
| Q1 26 | -$1.31 | -$1.39 | -6.1% | — | $0 | — |
| Q4 25 | -$1.44 | -$1.58 | -9.7% | — | $0 | — |
| Q3 25 | -$1.32 | -$1.7 | -28.8% | — | $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 | — | -$5.85 | — | — | $0 | — |
| FY24 | — | -$3.93 | — | — | $0 | — |
| FY23 | — | -$2.17 | — | — | $0 | — |
| FY22 | — | -$1.65 | — | — | $0 | — |
| FY21 | — | -$2.13 | — | — | $0 | — |
| FY20 | — | -$0.64 | — | — | $0 | — |
Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.
| Period | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 | $0 | $0 |
| YoY change | — | 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 | Q4 24 | Q1 25 | Q2 25 | Q3 25 | Q4 25 | Q1 26 |
|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 | $0 | $0 |
| YoY change | — | — | — | — | 0% | 0% |
Revenue, gross profit, operating income, and net income per period.
Click a row to chart it; unreported figures show a dash.
| Period | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | 0 | 0 | 0 |
| Cost of revenue | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — |
| Research & development | 15.4M | 35.6M | 63.7M | 113.2M | 217.8M | 307M |
| Selling, general & administrative | 1.5M | 10.3M | 22.4M | 36.2M | 62.6M | 107.3M |
| Operating expenses | 16.9M | 45.8M | 86.1M | 149.5M | 280.4M | 414.3M |
| Operating income | -16.9M | -45.8M | -86.1M | -149.5M | -280.4M | -414.3M |
| Operating margin | — | — | — | — | — | — |
| Non-operating income, net | 2.3M | -521K | 4.3M | — | -17.9M | -55.2M |
| Pretax income | -14.6M | -46.3M | -81.9M | -126.2M | -260M | -424.8M |
| Income tax | — | — | — | — | 764K | 585K |
| Net income | -14.6M | -46.3M | -81.9M | -126.2M | -260.8M | -425.4M |
| Net margin | — | — | — | — | — | — |
| EBITDA | -16.9M | -45.8M | -86.1M | -149.5M | -280.4M | -414.3M |
| EPS | -0.64 | -2.13 | -1.65 | -2.17 | -3.93 | -5.85 |
| Diluted EPS | -0.64 | -2.13 | -1.65 | -2.17 | -3.93 | -5.85 |
Revenue, gross profit, operating income, and net income per period.
Click a row to chart it; unreported figures show a dash.
| Period | Q4 24 | Q1 25 | Q2 25 | Q3 25 | Q4 25 | Q1 26 |
|---|---|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | 0 | 0 | 0 |
| Cost of revenue | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — |
| Research & development | 69.4M | 74.4M | 80.9M | 83.8M | 67.8M | 83.6M |
| Selling, general & administrative | 16.9M | 20.4M | 23.7M | 28.9M | 34.4M | 35.8M |
| Operating expenses | 86.3M | 94.8M | 104.6M | 112.7M | 102.2M | 119.4M |
| Operating income | -86.3M | -94.8M | -104.6M | -112.7M | -102.2M | -119.4M |
| Operating margin | — | — | — | — | — | — |
| Non-operating income, net | -1.3M | -1.4M | -6M | -19.8M | -27.9M | -2.6M |
| Pretax income | -74.6M | -84.4M | -99.5M | -122.3M | -118.6M | -109.1M |
| Income tax | 171K | 157K | 145K | 132K | 151K | 168K |
| Net income | -74.8M | -84.6M | -99.7M | -122.4M | -118.7M | -109.3M |
| Net margin | — | — | — | — | — | — |
| EBITDA | -86.3M | -94.8M | -104.6M | -112.7M | -102.2M | -119.4M |
| EPS | -1.05 | -1.18 | -1.39 | -1.7 | -1.58 | -1.39 |
| Diluted EPS | -1.05 | -1.18 | -1.39 | -1.7 | -1.58 | -1.39 |
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 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|
| Cash & short-term investments | 10.3M | 288.1M | 472.2M | 719.9M | 1.1B | 1.4B |
| Receivables | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — |
| Total current assets | 10.6M | 290.6M | 478M | 726.5M | 1.1B | 1.4B |
| Property, plant & equipment | — | — | — | — | — | — |
| Goodwill & intangibles | — | — | — | — | — | — |
| Total assets | 10.6M | 293.8M | 482.5M | 732.4M | 1.1B | 1.4B |
| Accounts payable | 1.3M | 2.9M | 7.2M | 9.3M | 5.2M | 30.2M |
| Short-term debt | — | — | — | — | — | — |
| Total current liabilities | 4.4M | 8.8M | 19.5M | 31.8M | 54M | 91.2M |
| Long-term debt | 2.2M | — | — | — | — | — |
| Total liabilities | 42M | 8.8M | 19.5M | 31.8M | 72M | 164.4M |
| Shareholders' equity | -31.3M | 285M | 463M | 700.6M | 1.1B | 1.2B |
| Total debt | 2.2M | — | — | — | — | — |
| Net debt | -8.1M | — | — | — | — | — |
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 | Q4 24 | Q1 25 | Q2 25 | Q3 25 | Q4 25 | Q1 26 |
|---|---|---|---|---|---|---|
| Cash & short-term investments | 1.1B | 1.1B | 1B | 943.1M | 1.4B | 1.3B |
| Receivables | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — |
| Total current assets | 1.1B | 1.1B | 1B | 956.9M | 1.4B | 1.3B |
| Property, plant & equipment | — | — | — | — | — | — |
| Goodwill & intangibles | — | — | — | — | — | — |
| Total assets | 1.1B | 1.1B | 1B | 979.9M | 1.4B | 1.3B |
| Accounts payable | 5.2M | 26.2M | 13.3M | 22M | 30.2M | 22.1M |
| Short-term debt | — | — | — | — | — | — |
| Total current liabilities | 54M | 75M | 75.1M | 89.2M | 91.2M | 81.1M |
| Long-term debt | — | — | — | — | — | — |
| Total liabilities | 72M | 94.7M | 100.8M | 134.5M | 164.4M | 156.8M |
| Shareholders' equity | 1.1B | 1B | 939.7M | 845.4M | 1.2B | 1.2B |
| Total debt | — | — | — | — | — | — |
| Net debt | — | — | — | — | — | — |
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 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|
| Net income | -14.6M | -46.3M | -81.9M | -126.2M | -260.8M | -425.4M |
| Depreciation & amortization | — | — | — | — | — | — |
| Stock-based compensation | 729K | 3.6M | 10.3M | 25.6M | 60.6M | 86.5M |
| Change in working capital | 529K | -1.6M | 2.9M | 741K | -7.5M | 14.1M |
| Operating cash flow | -15.7M | -43.7M | -68.6M | -99.9M | -204.4M | -275.2M |
| Capital expenditure | — | — | — | — | — | — |
| Investing cash flow | 0 | -220M | -10.7M | -143.5M | -573.5M | -124.1M |
| Dividends paid | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — |
| Financing cash flow | 22.3M | 318.2M | 247.1M | 322.7M | 568.9M | 515.3M |
| Net change in cash | 6.6M | 54.5M | 167.8M | 79.2M | -209M | 116.1M |
| Free cash flow | -14.9M | -40M | -65M | -99.7M | -185.1M | -275.2M |
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 | Q4 24 | Q1 25 | Q2 25 | Q3 25 | Q4 25 | Q1 26 |
|---|---|---|---|---|---|---|
| Net income | -74.8M | -84.6M | -99.7M | -122.4M | -118.7M | -109.3M |
| Depreciation & amortization | — | — | — | — | — | — |
| Stock-based compensation | 16.1M | 20.4M | 22.1M | 22.3M | 21.7M | 28.9M |
| Change in working capital | -10.8M | 11.8M | -14.6M | 6.5M | 10.4M | -10.7M |
| Operating cash flow | -82.7M | -51M | -76.6M | -70.5M | -73.3M | -92.4M |
| Capital expenditure | — | — | — | — | — | — |
| Investing cash flow | -170M | 25.4M | 77.5M | 54M | -280.9M | -19.4M |
| Dividends paid | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — |
| Financing cash flow | 8.5M | 4.5M | 5.8M | 4.8M | 500.3M | 9.8M |
| Net change in cash | -244.3M | -21M | 6.6M | -11.7M | 146M | -102M |
| Free cash flow | -62M | -54.8M | -76.6M | -70.5M | -73.3M | -92.4M |
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 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| Market cap | — | 414.8M | — | — | — | 7.3B | 9.8B |
| Enterprise value | — | 126.7M | — | — | — | 5.9B | 8.5B |
| Shares outstanding | 22.9M | 21.8M | 49.7M | 58.2M | 66.4M | 72.7M | 72.7M |
| Metric | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| P/E | — | — | — | — | — | — | -21.2 |
| P/B | — | 1.46 | — | — | — | 5.86 | 8.33 |
| EV/EBITDA | — | -2.76 | — | — | — | -14.3 | -20.5 |
| Earnings yield | — | — | — | — | — | — | -4.72% |
| FCF yield | — | -9.64% | — | — | — | -3.76% | -1.84% |
| PEG | — | — | — | — | — | — | -1.19 |
| Metric | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| Operating margin | — | — | — | — | — | — | 0% |
| Net margin | — | — | — | — | — | — | 0% |
| ROE | 46.5% | -16.3% | -17.7% | -18% | -24.4% | -34.1% | -41.2% |
| ROA | -136.7% | -15.8% | -17% | -17.2% | -22.8% | -30.1% | -22.5% |
| ROIC | — | — | — | — | 578% | 335.2% | 388% |
| Return on tangible assets | -136.7% | -15.8% | -17% | -17.2% | -22.8% | -30.1% | -33.8% |
| Metric | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| Current ratio | 2.43 | 33.1 | 24.5 | 22.8 | 21 | 15.3 | 16.1 |
| Quick ratio | 2.43 | 33.1 | 24.5 | 22.8 | 21 | 15.3 | 16.1 |
| Debt / equity | -0.07 | — | — | — | — | — | 0 |
| Debt / assets | 0.21 | — | — | — | — | — | — |
| Net debt / EBITDA | 0.48 | — | — | — | — | — | — |
| Effective tax rate | — | — | — | — | 0% | 0% | 0% |
| Metric | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| Revenue per share | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (basic) | -0.64 | -2.13 | -1.65 | -2.17 | -3.93 | -5.85 | -5.85 |
| EPS (diluted) | -0.64 | -2.13 | -1.65 | -2.17 | -3.93 | -5.85 | -6.06 |
| Book value per share | -1.37 | 13.1 | 9.32 | 12 | 16.1 | 17.2 | 14.9 |
| FCF per share | -0.65 | -1.84 | -1.31 | -1.71 | -2.79 | -3.79 | -3.98 |
| Cash per share | 0.45 | 13.2 | 9.51 | 12.4 | 16.8 | 18.9 | 16.3 |
| Metric | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| Payout ratio | — | — | — | — | — | — | 0% |