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 | -$2.83 | -$2.44 | +13.8% | — | $0 | — |
| Q4 25 | -$2.8 | -$4.09 | -46.1% | — | $0 | — |
| Q3 25 | -$2.97 | -$2.44 | +17.8% | — | $0 | — |
| Q2 25 | -$4.15 | -$2.96 | +28.7% | — | — | — |
| Q1 25 | -$4.47 | -$5 | -11.9% | — | — | — |
| Q4 24 | -$4 | -$4 | 0.0% | — | — | — |
| Q3 24 | -$4.67 | -$4.71 | -0.9% | — | — | — |
| Q2 24 | -$6.2 | -$5.2 | +16.1% | — | — | — |
| Q1 24 | -$6.9 | -$6 | +13.0% | — | — | — |
| Q4 23 | -$8 | -$6 | +25.0% | — | — | — |
| Q3 23 | -$0.46 | -$0.49 | -6.5% | — | — | — |
| Q2 23 | -$9.55 | -$8.8 | +7.9% | — | $0 | — |
| Q1 23 | -$10.2 | -$12.6 | -24.1% | — | $0 | — |
| Q4 22 | -$9.8 | -$9.8 | 0.0% | — | $0 | — |
| Q3 22 | -$15.4 | -$9.8 | +36.5% | — | $0 | — |
| Q2 22 | -$15.9 | -$14.6 | +8.3% | — | $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 | — | -$14.3 | — | — | $0 | — |
| FY24 | — | -$21.4 | — | — | $0 | — |
| FY23 | — | -$1.86 | — | — | $0 | — |
| FY22 | — | -$2.5 | — | — | $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 | 9.2M | 29.7M | 81.8M | 117.7M | 86.1M | 61.4M | 40.2M | 23.3M |
| Selling, general & administrative | 928K | 7M | 30.1M | 60.1M | 49.3M | 41.6M | 25M | 19.9M |
| Operating expenses | 13.5M | 37.2M | 111.9M | 177.7M | 135.4M | 103M | 65.2M | 43.2M |
| Operating income | -10.1M | -36.7M | -111.9M | -177.7M | -135.4M | -103M | -65.2M | -43.2M |
| Operating margin | — | — | — | — | — | — | — | — |
| Non-operating income, net | -2.7M | -9.6M | -1M | -8M | -731K | 937K | 400K | -2.4M |
| Pretax income | -12.8M | -45.6M | -112.2M | -185.4M | -136.1M | -102.1M | -64.8M | -45.5M |
| Income tax | — | — | — | — | — | — | — | — |
| Net income | -12.8M | -45.6M | -112.2M | -185.4M | -136.1M | -102.1M | -64.8M | -45.5M |
| Net margin | — | — | — | — | — | — | — | — |
| EBITDA | -7.4M | -26.9M | -110.1M | -168.2M | -128.7M | -93.9M | -56.9M | -36.3M |
| EPS | -0.53 | -1.16 | -2.46 | -3.48 | -2.5 | -1.86 | -21.4 | -14.3 |
| Diluted EPS | -0.53 | -1.16 | -2.46 | -3.48 | -2.5 | -1.86 | -21.4 | -14.3 |
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 |
| Cost of revenue | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — | — | — | — | — | — |
| Research & development | — | — | — | — | — | — | — | — | 4.3M | 5.4M | 4.1M | 3.3M |
| Selling, general & administrative | 8.2M | 6.3M | 6.5M | 6.5M | 7.3M | 4.7M | 6.1M | 4.5M | 4.3M | 4.9M | 4.8M | 6.9M |
| Operating expenses | 8.2M | 6.3M | 6.5M | 6.5M | 7.3M | 4.7M | 6.1M | 4.5M | 8.7M | 10.3M | 8.9M | 10.2M |
| Operating income | — | — | — | — | — | — | — | — | -8.7M | -10.3M | -8.9M | -10.2M |
| Operating margin | — | — | — | — | — | — | — | — | — | — | — | — |
| Non-operating income, net | — | — | — | — | — | — | — | — | 906K | -2.6M | 1M | 2.4M |
| Pretax income | — | — | — | — | — | — | — | — | -7.7M | -13M | -7.6M | -7.8M |
| Income tax | — | — | — | — | — | — | — | — | — | — | — | — |
| Net income | — | — | — | — | — | — | — | — | -7.7M | -13M | -7.6M | -7.8M |
| Net margin | — | — | — | — | — | — | — | — | — | — | — | — |
| EBITDA | — | — | — | — | — | — | — | — | -8.5M | -6.7M | -9.4M | -12.1M |
| EPS | -0.49 | — | -0.3 | -0.26 | -6.2 | — | -5 | -2.96 | -2.44 | — | -2.36 | -2.44 |
| Diluted EPS | -0.49 | — | -0.3 | -0.26 | -6.2 | — | -5 | -2.96 | -2.44 | — | -2.36 | -2.44 |
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 | — | — | — | — | 1.5B | 1.1B | — | 37.4M | 15M |
| Enterprise value | — | — | — | — | 1.3B | 1B | — | 15.1M | -8.7M |
| Shares outstanding | 24M | 39.4M | 45.6M | 53.3M | 54.4M | 54.7M | 3M | 3.2M | 3.2M |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| P/E | — | — | — | — | — | — | — | — | 0.03 |
| P/B | — | — | — | — | 7.46 | 9.94 | — | 2 | 3.32 |
| EV/EBITDA | — | — | — | — | -10.4 | -10.8 | — | -0.42 | 0.23 |
| Earnings yield | — | — | — | — | — | — | — | — | 3.5K% |
| FCF yield | — | — | — | — | -8.22% | -7.09% | — | -84.2% | -98.5% |
| PEG | — | — | — | — | — | — | — | — | -0 |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Operating margin | — | — | — | — | — | — | — | — | 0% |
| Net margin | — | — | — | — | — | — | — | — | 0% |
| ROE | 104.9% | 81.1% | -36.8% | -58.2% | -67.6% | -91.7% | -105.7% | -242.7% | -169.1% |
| ROA | -38.2% | -25.5% | -34.2% | -52.2% | -55.9% | -67.8% | -63.2% | -73.1% | -45.6% |
| Return on tangible assets | -38.2% | -25.5% | -34.2% | -52.2% | -55.9% | -67.8% | -63.2% | -73.1% | -143.4% |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Current ratio | 108.8 | 45 | 15 | 11 | 10.7 | 7.22 | 4.07 | 2.07 | 1.22 |
| Quick ratio | 108.8 | 45 | 15 | 11 | 10.7 | 7.22 | 4.07 | 2.07 | 1.22 |
| Debt / equity | — | — | — | 0 | 0.13 | 0.24 | 0.42 | 1.28 | 0 |
| Debt / assets | — | — | — | 0 | 0.11 | 0.17 | 0.25 | 0.39 | 0 |
| Net debt / EBITDA | — | — | — | 1.88 | 1.26 | 0.94 | 0.9 | 0.61 | 0.66 |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Revenue per share | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (basic) | -0.53 | -1.16 | -2.46 | -3.48 | -2.5 | -1.86 | -21.4 | -14.3 | -14.3 |
| EPS (diluted) | -0.53 | -1.16 | -2.46 | -3.48 | -2.5 | -1.86 | -21.4 | -14.3 | -11.3 |
| Book value per share | -0.51 | -1.43 | 6.68 | 5.97 | 3.7 | 2.03 | 20.3 | 5.91 | 1.39 |
| FCF per share | -0.88 | -1.06 | -1.8 | -2.86 | -2.27 | -1.43 | -15.9 | -9.93 | -10.4 |
| Cash per share | 1.04 | 4.03 | 6.68 | 5.92 | 3.48 | 2.09 | 25.4 | 14.6 | 7.51 |
| Capex per share | 0 | 0.03 | 0.03 | 0.33 | 0.04 | 0 | 0.01 | — | — |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Capex / operating cash flow | -0.31% | -2.82% | -1.26% | -12.7% | -1.97% | -0.16% | -0.07% | — | — |
| Payout ratio | — | — | — | — | — | — | — | — | 0% |
| -$3.48 |
| — |
| — |
| $0 |
| — |
| FY20 | — | -$2.46 | — | — | $0 | — |
| FY19 | — | -$1.16 | — | — | $0 | — |
| FY18 | — | -$0.53 | — | — | $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 |
| YoY change | — | — | — | — | — | — | — | — | — | — | — | — |
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 | 24.9M | 158.9M | 304.8M | 315.8M | 189.6M | 114.3M | 76.8M | 46.3M |
| Receivables | — | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — | — |
| Total current assets | 33.4M | 165.8M | 317.2M | 325.1M | 197M | 118M | 78.8M | 47.8M |
| Property, plant & equipment | 28K | 2.2M | 5.6M | 23.8M | 42.2M | 32.2M | 23.1M | 14.3M |
| Goodwill & intangibles | — | — | — | — | — | — | — | — |
| Total assets | 33.5M | 178.6M | 328M | 355.1M | 243.5M | 150.5M | 102.4M | 62.3M |
| Accounts payable | 212K | 629K | 5.3M | 9.4M | 4.1M | 1.3M | 742K | 1.1M |
| Short-term debt | — | — | — | — | 3.3M | 3.4M | 3.7M | 3.6M |
| Total current liabilities | 307K | 3.7M | 21.2M | 29.5M | 18.4M | 16.3M | 19.4M | 23.1M |
| Long-term debt | — | — | — | 0 | 23.8M | 22.9M | 21.8M | 20.4M |
| Total liabilities | 45.6M | 234.9M | 23.3M | 36.4M | 42.2M | 39.3M | 41.2M | 43.5M |
| Shareholders' equity | -12.2M | -56.3M | 304.7M | 318.7M | 201.4M | 111.3M | 61.3M | 18.8M |
| Total debt | — | — | — | 0 | 27.1M | 26.3M | 25.5M | 24M |
| Net debt | — | — | — | -129M | -7.5M | 4.6M | -12.1M | -22.3M |
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 | 132.8M | 114.3M | 104.5M | 91.8M | 84.8M | 76.8M | 63.4M | 57.6M | 52.8M | 46.3M | 33.3M | 24.2M |
| Receivables | — | — | — | — | — | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current assets | 135.7M | 118M | 108.3M | 95M | 87.2M | 78.8M | 66.7M | 60.3M | 55.7M | 47.8M | 34.7M | 25.2M |
| Property, plant & equipment | 33.1M | 32.2M | 31.6M | 29.9M | 24.1M | 23.1M | 19.1M | 18.6M | 18.2M | 14.3M | 1.5M | 0 |
| Goodwill & intangibles | — | — | — | — | — | — | — | — | — | — | — | — |
| Total assets | 169.3M | 150.5M | 140.5M | 125.4M | 111.8M | 102.4M | 86M | 79.2M | 74.2M | 62.3M | 36.5M | 25.2M |
| Accounts payable | 2.7M | 1.3M | 1.7M | 621K | 1.5M | 742K | 1.5M | 2.4M | 952K | 1.1M | 1.3M | 902K |
| Short-term debt | 3.3M | 3.4M | 3.7M | 3.7M | 3.7M | 3.7M | 3.6M | 3.6M | 3.5M | 3.6M | 1.1M | — |
| Total current liabilities | 19.8M | 16.3M | 12.8M | 12.4M | 17M | 19.4M | 17.8M | 19.8M | 22.2M | 23.1M | 20.1M | 20.7M |
| Long-term debt | 23.2M | 22.9M | 22.8M | 22.4M | 22.1M | 21.8M | 21.5M | 21.1M | 20.8M | 20.4M | 4.6M | 0 |
| Total liabilities | 43M | 39.3M | 35.6M | 34.8M | 39M | 41.2M | 39.3M | 40.9M | 43M | 43.5M | 24.7M | 20.7M |
| Shareholders' equity | 126.3M | 111.3M | 104.9M | 90.6M | 72.7M | 61.3M | 46.7M | 38.3M | 31.1M | 18.8M | 11.8M | 4.5M |
| Total debt | 26.5M | 26.3M | 26.5M | 26.2M | 25.8M | 25.5M | 25.1M | 24.7M | 24.3M | 24M | 5.8M | 0 |
| Net debt | -7.1M | 4.6M | -10.3M | 1.4M | -6.5M | -12.1M | -38.2M | -32.9M | -28.4M | -22.3M | -27.6M | -24.2M |
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 | -12.8M | -45.6M | -112.2M | -185.4M | -136.1M | -102.1M | -64.8M | -45.5M |
| Depreciation & amortization | 0 | 134K | 800K | 1.5M | 3.7M | 3.7M | 3.1M | 728K |
| Stock-based compensation | 0 | 1.5M | 14.6M | 32.7M | 19M | 10.9M | 5.8M | 3M |
| Change in working capital | 424K | 796K | 4.6M | 2.2M | -4.9M | -2.9M | 7.4M | 5.4M |
| Operating cash flow | -8.9M | -42.3M | -91M | -138.9M | -115.4M | -90.3M | -48.5M | -31.5M |
| Capital expenditure | -28K | -1.2M | -1.1M | -17.6M | -2.3M | -146K | -34K | — |
| Investing cash flow | -28K | -1.2M | -171.6M | -37.8M | 28.2M | 65.2M | 54.9M | 39M |
| Dividends paid | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — |
| Financing cash flow | 46M | 175.4M | 228.3M | 165.5M | -1.8M | 135K | 8.7M | 0 |
| Net change in cash | 37M | 131.9M | -34.3M | -11.2M | -89M | -25M | 15.2M | 7.5M |
| Free cash flow | -21.1M | -41.6M | -82.2M | -152.5M | -123.5M | -78.4M | -48M | -31.5M |
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 | -27.1M | -16.8M | -16.7M | -16M | -19.3M | -12.7M | -15.4M | -9.4M | -7.7M | -13M | -7.6M | -7.8M |
| Depreciation & amortization | 958K | 807K | 806K | 797K | 759K | 719K | 201K | 169K | 181K | 177K | 129K | 25K |
| Stock-based compensation | 2.8M | 1.6M | 1.6M | 1.6M | 1.4M | 1.2M | 858K | 923K | 611K | 609K | 556K | 525K |
| Change in working capital | -672K | -1.5M | 344K | -1.1M | 5.8M | 2.4M | 619K | 819K | -56K | 4M | -4.8M | -2.8M |
| Operating cash flow | -24M | -15.9M | -14M | -14.7M | -11.4M | -8.4M | -13.2M | -6.3M | -4.9M | -6.5M | -13M | -9.2M |
| Capital expenditure | -4K | -13K | 0 | 0 | -20K | -14K | 585K | — | — | — | — | — |
| Investing cash flow | 22.5M | 7.6M | 25.3M | 1M | 15M | 13.7M | 39.6M | 0 | 0 | 0 | 0 | 0 |
| Dividends paid | — | — | — | — | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — | — | — | — | — |
| Financing cash flow | 0 | 46K | 8.7M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | — | — |
| Net change in cash | -1.5M | -8.2M | 20M | -13.7M | 3.6M | 5.3M | 26.4M | -6.3M | -4.9M | -6.5M | -13M | -9.2M |
| Free cash flow | -19.2M | -19.5M | -18.9M | -13.1M | -7.5M | -8.5M | -13.8M | -6.3M | -4.9M | -6.5M | -13M | -9.2M |