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 | -$0.38 | -5.6% | — | $0 | — |
| Q1 26 | -$0.32 | -$0.34 | -6.3% | — | $0 | — |
| Q4 25 | -$0.37 | -$0.3 | +18.9% | — | $0 | — |
| Q3 25 | -$0.4 | -$0.33 | +17.5% | — | $0 | — |
| Q2 25 | -$0.44 | -$0.47 | -6.8% | — | $0 | — |
| Q1 25 | -$0.5 | -$0.42 | +16.0% | — | $0 | — |
| Q4 24 | -$0.51 | -$0.51 | 0.0% | — | $0 | — |
| Q3 24 | -$0.47 | -$0.49 | -4.3% | — | $0 | — |
| Q2 24 | -$0.41 | -$0.45 | -9.8% | — | $0 | — |
| Q1 24 | -$0.43 | -$0.37 | +14.0% | — | $0 | — |
| Q4 23 | -$0.48 | -$0.49 | -2.1% | — | $0 | — |
| Q3 23 | -$0.46 | -$0.44 | +4.3% | — | $0 | — |
| Q2 23 | -$0.57 | -$0.5 | +12.3% | — | $0 | — |
| Q1 23 | -$0.54 | -$0.53 | +1.9% | — | $0 | — |
| Q4 22 | -$0.54 | -$0.52 | +3.7% | — | $0 | — |
| Q3 22 | -$0.55 | -$0.63 | -14.5% | — | $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 | — | -$1.47 | — | — | $0 | — |
| FY24 | — | -$1.83 | — | — | $0 | — |
| FY23 | — | -$1.96 | — | — | $0 | — |
| FY22 | — | -$2.25 | — | — | $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 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| YoY change | — | 0% | 0% | 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 | Q3 23 |
|---|
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 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cost of revenue | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — | — |
| Research & development | 19M | 22.8M | 35.9M | 56.9M | 61.7M | 85.2M | 114.1M | 109.8M |
| Selling, general & administrative | 3.3M | 5.7M | 13.4M | 22M | 25.1M | 25.6M | 28.8M | 33.2M |
| Operating expenses | 22.4M | 28.6M | 49.3M | 78.9M | 86.8M | 110.8M | 142.9M | 143M |
| Operating income | -22.4M | -28.6M | -49.3M | -78.9M | -86.8M | -110.8M | -142.9M | -143M |
| Operating margin | — | — | — | — | — | — | — | — |
| Non-operating income, net | 233K | 289K | -24.7M | 15K | -2.4M | 10.1M | 15M | 13.5M |
| Pretax income | -21.4M | -26.9M | -73.7M | -78.7M | -89.1M | -100.7M | -127.8M | -129.5M |
| Income tax | — | — | — | — | — | — | — | — |
| Net income | -21.4M | -26.9M | -73.7M | -78.7M | -89.1M | -100.7M | -127.8M | -129.5M |
| Net margin | — | — | — | — | — | — | — | — |
| EBITDA | -21.5M | -27.5M | -23.5M | -78M | -80.8M | -109.7M | -141.8M | -141.8M |
| EPS | -1.12 | -1.4 | -3.36 | -2.07 | -2.25 | -1.96 | -1.83 | -1.47 |
| Diluted EPS | -1.12 | -1.4 | -3.36 | -2.07 | -2.25 | -1.96 | -1.83 | -1.47 |
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 | 22.4M | 24.5M | 22M | 28.9M | 31.2M | 32M | 24.6M | 30.5M | 28.8M | 25.9M | 31.4M | 36.3M |
| Selling, general & administrative | 6.3M | 6.9M | 7M | 7.1M | 7.1M | 7.6M | 8.1M | 8.5M | 7.9M | 8.7M | 8.2M | 9M |
| Operating expenses | 28.7M | 31.4M | 29M | 36M | 38.3M | 39.6M | 32.7M | 39.1M | 36.7M | 34.6M | 39.6M | 45.3M |
| Operating income | -28.7M | -31.4M | -29M | -36M | -38.3M | -39.6M | -32.7M | -39.1M | -36.7M | -34.6M | -39.6M | -45.3M |
| Operating margin | — | — | — | — | — | — | — | — | — | — | — | — |
| Non-operating income, net | 3.2M | 3.1M | 4M | 4.1M | 3.8M | 3.3M | 2.7M | 2.7M | 4.1M | 4M | 3.9M | 3.8M |
| Pretax income | -25.5M | -28.3M | -25M | -32M | -34.6M | -36.3M | -30M | -36.4M | -32.6M | -30.5M | -35.8M | -41.5M |
| Income tax | — | — | — | — | — | — | — | — | — | — | — | — |
| Net income | -25.5M | -28.3M | -25M | -32M | -34.6M | -36.3M | -30M | -36.4M | -32.6M | -30.5M | -35.8M | -41.5M |
| Net margin | — | — | — | — | — | — | — | — | — | — | — | — |
| EBITDA | -28.4M | -31.2M | -28.7M | -35.7M | -38M | -39.3M | -32.4M | -38.8M | -36.4M | -34.2M | -39.3M | -45M |
| EPS | -0.44 | — | -0.37 | -0.45 | -0.49 | -0.51 | -0.42 | -0.47 | -0.33 | -0.3 | -0.34 | -0.38 |
| Diluted EPS | -0.44 | — | -0.37 | -0.45 | -0.49 | -0.51 | -0.42 | -0.47 | -0.33 | -0.3 | -0.34 | -0.38 |
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 | — | — | — | — | 233.6M | — | — | — | 1.4B |
| Enterprise value | — | — | — | — | 30M | — | — | — | 1.1B |
| Shares outstanding | 19.1M | 19.1M | 21.9M | 38M | 39.7M | 51.5M | 69.7M | 87.8M | 87.8M |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| P/E | — | — | — | — | — | — | — | — | -9.03 |
| P/B | — | — | — | — | 1.05 | — | — | — | 3.65 |
| EV/EBITDA | — | — | — | — | -0.37 | — | — | — | -7.13 |
| Earnings yield | — | — | — | — | — | — | — | — | -11.1% |
| FCF yield | — | — | — | — | -33.1% | — | — | — | -5% |
| PEG | — | — | — | — | — | — | — | — | 0.47 |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Operating margin | — | — | — | — | — | — | — | — | 0% |
| Net margin | — | — | — | — | — | — | — | — | 0% |
| ROE | 33.2% | 29.8% | -25.4% | -28.8% | -40.1% | -44.9% | -52.6% | -33.7% | -39.8% |
| ROA | -45.7% | -28.6% | -24.7% | -26.4% | -36.1% | -40% | -46.6% | -31.7% | -26% |
| Return on tangible assets | -45.7% | -28.6% | -24.7% | -26.4% | -36.1% | -40% | -46.6% | -31.7% | -34.7% |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Current ratio | 16.8 | 16.8 | 33 | 15.9 | 13.7 | 10.4 | 10.6 | 14.1 | 13.2 |
| Quick ratio | 16.8 | 16.8 | 33 | 15.9 | 13.7 | 10.4 | 10.6 | 14.1 | 13.2 |
| Debt / equity | — | — | — | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.02 |
| Debt / assets | — | — | — | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 |
| Net debt / EBITDA | — | — | — | 3.01 | 2.52 | 1.87 | 1.78 | 1.96 | 1.69 |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Revenue per share | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (basic) | -1.12 | -1.4 | -3.36 | -2.07 | -2.25 | -1.96 | -1.83 | -1.47 | -1.47 |
| EPS (diluted) | -1.12 | -1.4 | -3.36 | -2.07 | -2.25 | -1.96 | -1.83 | -1.47 | -1.3 |
| Book value per share | -3.37 | -4.71 | 13.2 | 7.19 | 5.61 | 4.36 | 3.49 | 4.38 | 3.68 |
| FCF per share | -1.11 | -1.27 | -2.09 | -1.59 | -1.95 | -1.68 | -1.63 | -1.27 | -1.04 |
| Cash per share | 2.23 | 4.66 | 13.4 | 6.24 | 5.2 | 4.05 | 3.67 | 3.21 | 2.55 |
| Capex per share | 0.03 | 0.04 | 0.03 | 0.02 | 0.05 | 0.02 | 0.02 | — | — |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Capex / operating cash flow | -2.57% | -3.23% | -1.54% | -1.51% | -2.82% | -1.01% | -1.12% | — | — |
| Payout ratio | — | — | — | — | — | — | — | — | 0% |
| -$2.07 |
| — |
| — |
| $0 |
| — |
| FY20 | — | -$3.36 | — | — | $0 | — |
| FY19 | — | -$1.4 | — | — | $0 | — |
| FY18 | — | -$1.12 | — | — | $0 | — |
| 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 | 42.6M | 89.2M | 293.6M | 237M | 206.3M | 208.2M | 256M | 281.5M |
| Receivables | — | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — | — |
| Total current assets | 43.7M | 90M | 296.7M | 240.5M | 210.5M | 212.6M | 262.3M | 288.5M |
| Property, plant & equipment | 2.5M | 2.2M | 2M | 2.4M | 3.3M | 2.9M | 2.9M | 2.4M |
| Goodwill & intangibles | — | — | — | — | — | — | — | — |
| Total assets | 46.7M | 94.1M | 299M | 298.6M | 247.2M | 252M | 274.1M | 408.9M |
| Accounts payable | 446K | 152K | 757K | 1.9M | 1.3M | 944K | 1.5M | 3.8M |
| Short-term debt | — | — | — | 1.9M | 2.7M | 2.8M | 3.2M | 3.3M |
| Total current liabilities | 2.6M | 5.4M | 9M | 15.2M | 15.4M | 20.5M | 24.8M | 20.4M |
| Long-term debt | — | — | — | — | — | — | — | — |
| Total liabilities | 111.2M | 184.2M | 9.2M | 25.7M | 24.8M | 27.9M | 31M | 24.5M |
| Shareholders' equity | -64.4M | -90.1M | 289.8M | 273M | 222.4M | 224.1M | 243.1M | 384.4M |
| Total debt | — | — | — | 1.9M | 2.7M | 2.8M | 3.2M | 3.3M |
| Net debt | — | — | — | -224.1M | -64.2M | -20.6M | -56.2M | -42.3M |
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 | 227.3M | 208.2M | 316.8M | 286.4M | 272.4M | 256M | 203.7M | 282.5M | 287.1M | 281.5M | 281.9M | 264.8M |
| Receivables | — | — | — | — | — | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current assets | 232.2M | 212.6M | 324.1M | 294.6M | 279.4M | 262.3M | 211.4M | 291.1M | 295.6M | 288.5M | 290.2M | 273.7M |
| Property, plant & equipment | 3.1M | 2.9M | 2.8M | 2.9M | 3.1M | 2.9M | 3M | 2.8M | 2.6M | 2.4M | 2.1M | 2.2M |
| Goodwill & intangibles | — | — | — | — | — | — | — | — | — | — | — | — |
| Total assets | 274.3M | 252M | 350.8M | 328.9M | 302.1M | 274.1M | 242.9M | 346.9M | 431.2M | 408.9M | 436.8M | 404.7M |
| Accounts payable | 3.7M | 944K | 3M | 2.3M | 4.2M | 1.5M | 5.2M | 3.1M | 2.9M | 3.8M | 2.9M | 3.9M |
| Short-term debt | 2.7M | 2.8M | 2.8M | 2.8M | 3.1M | 3.2M | 3.2M | 3.3M | 3.3M | 3.3M | 3.3M | 3.3M |
| Total current liabilities | 18.9M | 20.5M | 15.2M | 19.5M | 21.2M | 24.8M | 17.6M | 18.1M | 20.2M | 20.4M | 17.8M | 20.8M |
| Long-term debt | — | — | — | — | — | — | — | — | — | — | — | — |
| Total liabilities | 26.9M | 27.9M | 22.1M | 26.5M | 28.1M | 31M | 23.1M | 22.9M | 24.3M | 24.5M | 21.2M | 23.4M |
| Shareholders' equity | 247.4M | 224.1M | 328.6M | 302.4M | 274M | 243.1M | 219.7M | 324M | 406.9M | 384.4M | 415.6M | 381.3M |
| Total debt | 2.7M | 2.8M | 2.8M | 2.8M | 3.1M | 3.2M | 3.2M | 3.3M | 3.3M | 3.3M | 3.3M | 3.3M |
| Net debt | -23.5M | -20.6M | -53.6M | -47.1M | -41.1M | -56.2M | -46.1M | -72.6M | -46.4M | -42.3M | -53.1M | -34.2M |
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 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|
| Net income | -21.4M | -26.9M | -73.7M | -78.7M | -89.1M | -100.7M | -127.8M | -129.5M |
| Depreciation & amortization | 903K | 1M | 970K | 897K | 966K | 1M | 1.1M | 1.2M |
| Stock-based compensation | 469K | 1.1M | 5.3M | 12.9M | 14.5M | 15.2M | 20.2M | 25M |
| Change in working capital | -410K | 986K | 4.3M | 2.9M | — | — | — | — |
| Operating cash flow | -20.4M | -23.8M | -43.3M | -62M | -73.7M | -84.4M | -106.5M | -111M |
| Capital expenditure | -525K | -768K | -667K | -939K | -2.1M | -849K | -1.2M | — |
| Investing cash flow | -508K | -768K | -216M | 158.4M | -109.2M | -43.4M | 22.1M | -147.3M |
| Dividends paid | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — |
| Financing cash flow | 37.9M | 70.7M | 250.1M | 48.1M | 24.6M | 84.8M | 124.8M | 242M |
| Net change in cash | 17M | 46.1M | -9.2M | 144.5M | -158.3M | -43.1M | 40.4M | -16.3M |
| Free cash flow | -21.2M | -24.3M | -45.9M | -60.5M | -77.2M | -86.5M | -113.8M | -111.7M |
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 | 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 | -25.5M | -28.3M | -25M | -32M | -34.6M | -36.3M | -30M | -36.4M | -32.6M | -30.5M | -35.8M | -41.5M |
| Depreciation & amortization | 257K | 263K | 261K | 272K | 270K | 304K | 302K | 310K | 288K | 320K | 270K | 264K |
| Stock-based compensation | 3.9M | 3.9M | 5M | 5M | 5.1M | 5.2M | 6.6M | 6.6M | 5.6M | 6.3M | 6.9M | 7.1M |
| Change in working capital | — | — | — | — | — | — | — | — | — | — | — | — |
| Operating cash flow | -21.4M | -24.1M | -19.8M | -26.7M | -29.2M | -30.8M | -23.2M | -30.8M | -25.1M | -22.5M | -32.4M | -31.6M |
| Capital expenditure | -77K | -57K | -218K | -333K | -418K | -219K | -387K | — | — | — | — | — |
| Investing cash flow | -57.8M | 21M | -61.9M | 18.3M | 23.1M | 42.7M | 22.4M | -76.9M | -110.5M | 17.2M | -18M | 12.2M |
| Dividends paid | — | — | — | — | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — | — | — | — | — |
| Financing cash flow | 0 | 226K | 124.8M | 0 | 0 | 0 | -242K | 133.5M | 108.7M | 0 | 59.9M | 0 |
| Net change in cash | -79.2M | -3M | 43.2M | -8.4M | -6.2M | 11.9M | -957K | 25.8M | -26.9M | -5.3M | 9.5M | -19.4M |
| Free cash flow | -19.7M | -24.3M | -30.4M | -26M | -29.2M | -28.3M | -32.9M | -30.9M | -25.1M | -22.7M | -32.4M | -32M |