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 | -$0.4 | -$0.34 | +15.0% | — | $0 | — |
| Q3 25 | -$0.4 | -$0.4 | 0.0% | — | $0 | — |
| Q2 25 | -$0.38 | -$0.41 | -7.9% | — | — | — |
| Q1 25 | -$0.38 | -$0.34 | +10.5% | — | — | — |
| Q4 24 | -$0.38 | -$0.45 | -18.4% | — | $0 | — |
| Q3 24 | -$0.36 | -$0.37 | -2.8% | — | — | — |
| Q2 24 | -$0.36 | -$0.02 | +94.4% | — | — | — |
| Q1 24 | -$0.37 | -$0.3 | +18.9% | — | — | — |
| Q4 23 | -$0.38 | -$0.31 | +18.4% | — | $0 | — |
| Q3 23 | -$0.45 | -$0.34 | +24.4% | — | — | — |
| Q2 23 | -$0.47 | -$0.38 | +19.1% | — | $0 | — |
| Q1 23 | -$0.46 | -$0.42 | +8.7% | — | $0 | — |
| Q4 22 | -$0.43 | -$0.43 | 0.0% | — | $0 | — |
| Q3 22 | -$0.41 | -$0.4 | +2.4% | — | $0 | — |
| Q2 22 | -$0.41 | -$0.38 | +7.3% | — | $0 | — |
| Q1 22 | -$0.39 | -$0.41 | -5.1% | — | $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 | — | -$1.48 | — | — | $0 | — |
| FY24 | — | -$1.14 | — | — | $0 | — |
| FY23 | — | -$1.44 | — | — | $0 | — |
| FY22 | — | -$1.61 | — | — | $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 | $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 | 13.9M | 20.8M | 23.9M | 36.5M | 52M | 55.9M | 58.5M | 69.9M |
| Selling, general & administrative | 5M | 5.9M | 11M | 21.8M | 25.1M | 24.2M | 26.9M | 16.3M |
| Operating expenses | 18.9M | 26.6M | 34.9M | 58.3M | 77M | 80.1M | 85.4M | 86.2M |
| Operating income | -18.9M | -26.6M | -34.9M | -58.3M | -77M | -80.1M | -85.4M | -86.2M |
| Operating margin | — | — | — | — | — | — | — | — |
| Non-operating income, net | 16K | -8K | -143K | 21K | 87K | 3K | -16K | -45K |
| Pretax income | -17.5M | -25.3M | -34.4M | -57.8M | -73.3M | -69M | -74.8M | -79.9M |
| Income tax | 3K | 8K | 6K | 23K | -9K | 2K | -16.1M | -2.2M |
| Net income | -17.5M | -25.4M | -34.4M | -57.8M | -73.3M | -69M | -58.7M | -77.7M |
| Net margin | — | — | — | — | — | — | — | — |
| EBITDA | -18.6M | -26.2M | -34.6M | -58M | -76.7M | -78.9M | -84.3M | -86.1M |
| EPS | -0.56 | -0.81 | -2.4 | -1.28 | -1.61 | -1.44 | -1.14 | -1.48 |
| Diluted EPS | -0.56 | -0.81 | -2.4 | -1.28 | -1.61 | -1.44 | -1.14 | -1.48 |
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 |
| Cost of revenue | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — | — | — | — | — | — |
| Research & development | — | 13.4M | — | — | — | 13.8M | — | — | 18.2M | 15.8M | 15.3M | 14.7M |
| Selling, general & administrative | — | 5.5M | — | — | — | 11.4M | — | — | 4.3M | 3.4M | 3.7M | 4.2M |
| Operating expenses | — | 18.9M | — | — | — | 25.2M | — | — | 22.5M | 19.2M | 19M | 18.9M |
| Operating income | — | -18.9M | — | — | — | -25.2M | — | — | -22.5M | -19.2M | -19M | -18.9M |
| Operating margin | — | — | — | — | — | — | — | — | — | — | — | — |
| Non-operating income, net | — | -21K | — | — | — | -119K | — | — | -23K | -1K | 1K | 10K |
| Pretax income | — | -15.8M | — | — | — | -23M | — | — | -21.1M | -18M | -18M | -18.1M |
| Income tax | — | -1K | — | — | — | 0 | — | — | -6K | 26K | 0 | 3K |
| Net income | — | -15.8M | — | — | — | -23M | — | — | -21.1M | -18M | -18M | -18.1M |
| Net margin | — | — | — | — | — | — | — | — | — | — | — | — |
| EBITDA | — | -18.5M | — | — | — | -25.1M | — | — | -22.5M | -19.2M | -19M | -18.9M |
| EPS | -0.34 | — | -0.3 | -0.02 | -0.37 | — | -0.34 | -0.41 | -0.4 | — | -0.34 | -0.34 |
| Diluted EPS | -0.34 | — | -0.3 | -0.02 | -0.37 | — | -0.34 | -0.41 | -0.4 | — | -0.34 | -0.34 |
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 | — | — | — | — | 396.7M | 148.8M | 77.9M | 65.7M | 72.7M |
| Enterprise value | — | — | — | — | 169.6M | -40.9M | -90.4M | -46.4M | -8.1M |
| Shares outstanding | 31.2M | 31.2M | 14.4M | 45.1M | 45.6M | 48M | 51.6M | 52.5M | 52.5M |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| P/E | — | — | — | — | — | — | — | — | -0.93 |
| P/B | — | — | — | — | 1.61 | 0.66 | 0.44 | 0.63 | 0.99 |
| EV/EBITDA | — | — | — | — | -2.21 | 0.52 | 1.07 | 0.54 | 0.1 |
| Earnings yield | — | — | — | — | — | — | — | — | -107.2% |
| FCF yield | — | — | — | — | -18.1% | -38% | -66.7% | -112.1% | -60.3% |
| PEG | — | — | — | — | — | — | — | — | 0.05 |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Operating margin | — | — | — | — | — | — | — | — | 0% |
| Net margin | — | — | — | — | — | — | — | — | 0% |
| ROE | 38% | 36% | -9.59% | -18.7% | -29.8% | -30.6% | -33.3% | -74.2% | -70.9% |
| ROA | -27.6% | -24.6% | -9.42% | -17.4% | -27.1% | -27.3% | -30.7% | -66.7% | -42.4% |
| ROIC | 17.5% | 15.5% | 1.5K% | -258.1% | -406.5% | -223.1% | -1.1K% | 1.2K% | 1K% |
| Return on tangible assets | -27.6% | -24.6% | -9.42% | -17.4% | -27.1% | -27.3% | -30.7% | -66.7% | -91.7% |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Current ratio | 26.7 | 22.6 | 56.9 | 24.7 | 22.8 | 14.8 | 12.2 | 10.1 | 7.7 |
| Quick ratio | 26.7 | 22.6 | 56.9 | 24.7 | 22.8 | 14.8 | 12.2 | 10.1 | 7.7 |
| Debt / equity | — | — | 0 | 0.04 | 0.06 | 0.06 | 0.01 | 0.01 | 0 |
| Debt / assets | — | — | 0 | 0.03 | 0.05 | 0.05 | 0.01 | 0.01 | 0 |
| Net debt / EBITDA | — | — | 10.4 | 4.93 | 2.96 | 2.41 | 2 | 1.3 | 1 |
| 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 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (basic) | -0.56 | -0.81 | -2.4 | -1.28 | -1.61 | -1.44 | -1.14 | -1.48 | -1.48 |
| EPS (diluted) | -0.56 | -0.81 | -2.4 | -1.28 | -1.61 | -1.44 | -1.14 | -1.48 | -1.42 |
| Book value per share | -1.48 | -2.26 | 25 | 6.84 | 5.4 | 4.7 | 3.41 | 1.99 | 1.34 |
| FCF per share | -0.5 | -0.71 | -2.29 | -1.06 | -1.57 | -1.18 | -1.01 | -1.4 | -1.34 |
| Cash per share | 1.98 | 3.25 | 25.2 | 6.58 | 5.29 | 4.23 | 3.29 | 2.15 | 1.49 |
| Capex per share | 0.01 | 0 | 0.01 | 0.03 | 0.18 | 0.02 | 0.01 | — | — |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Capex / operating cash flow | -2.85% | -0.49% | -0.44% | -2.64% | -13.3% | -1.76% | -0.89% | — | — |
| Payout ratio | — | — | — | — | — | — | — | — | 0% |
| -$1.28 |
| — |
| — |
| $0 |
| — |
| FY20 | — | -$2.4 | — | — | $0 | — |
| FY19 | — | -$0.81 | — | — | $0 | — |
| FY18 | — | -$0.56 | — | — | $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 |
| YoY change | — | 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 | 61.9M | 101.5M | 361.4M | 297.2M | 241.1M | 203.1M | 169.5M | 112.9M |
| Receivables | — | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — | — |
| Total current assets | 62.2M | 102.1M | 364.8M | 301.3M | 247M | 207.4M | 175.7M | 115.2M |
| Property, plant & equipment | 1M | 739K | 569K | 13.2M | 20.5M | 19M | 1.6M | 1M |
| Goodwill & intangibles | — | — | — | — | — | — | — | — |
| Total assets | 63.5M | 103M | 365.5M | 331.6M | 270.3M | 252.2M | 191.3M | 116.6M |
| Accounts payable | 1M | 2.8M | 1.6M | 3.2M | 3M | 3.2M | 6.6M | 3.2M |
| Short-term debt | — | — | — | 403K | 528K | 852K | 352K | 403K |
| Total current liabilities | 2.3M | 4.5M | 6.4M | 12.2M | 10.8M | 14M | 14.4M | 11.4M |
| Long-term debt | — | — | 0 | 10.8M | 13.4M | 12.4M | 838K | 435K |
| Total liabilities | 109.6M | 173.5M | 6.4M | 23M | 24.3M | 26.5M | 15.2M | 11.8M |
| Shareholders' equity | -46.1M | -70.5M | 359.1M | 308.6M | 246M | 225.7M | 176.1M | 104.7M |
| Total debt | — | — | 0 | 11.2M | 14M | 13.3M | 1.2M | 838K |
| Net debt | — | — | -361.4M | -161.3M | -94.3M | -24.4M | -39.7M | -37.1M |
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 | 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 | 201.9M | 203.1M | 197.9M | 212.9M | 182.8M | 169.5M | 160.4M | 142.3M | 129.3M | 112.9M | 93.5M | 79.4M |
| Receivables | — | — | — | — | — | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current assets | 205.3M | 207.4M | 202.5M | 218.8M | 189.6M | 175.7M | 163.5M | 145.3M | 132.4M | 115.2M | 95.8M | 81.4M |
| Property, plant & equipment | 19.4M | 19M | 19.1M | 18.6M | 18.5M | 1.6M | 1.4M | 1.3M | 1.1M | 1M | 486K | 363K |
| Goodwill & intangibles | — | — | — | — | — | — | — | — | — | — | — | — |
| Total assets | 261M | 252.2M | 236.9M | 237.5M | 223.5M | 191.3M | 170.6M | 152.9M | 133.8M | 116.6M | 96.6M | 82.1M |
| Accounts payable | 1.7M | 3.2M | 859K | 4.5M | 2.1M | 6.6M | 3.6M | 2.6M | 3.4M | 3.2M | 1.6M | 2M |
| Short-term debt | — | 852K | 880K | 1.2M | 1.2M | 352K | 364K | 377K | 390K | 403K | 293K | 217K |
| Total current liabilities | 10.7M | 14M | 12.1M | 11.4M | 13.6M | 14.4M | 9.8M | 11.6M | 12.3M | 11.4M | 8.6M | 10.6M |
| Long-term debt | 12.7M | 12.4M | 12.1M | 11.8M | 12M | 838K | 742K | 643K | 541K | 435K | 0 | 0 |
| Total liabilities | 23.4M | 26.5M | 24.2M | 23.2M | 25.6M | 15.2M | 10.5M | 12.3M | 12.8M | 11.8M | 8.6M | 10.6M |
| Shareholders' equity | 237.6M | 225.7M | 212.7M | 214.3M | 197.9M | 176.1M | 160.1M | 140.6M | 121M | 104.7M | 88M | 71.5M |
| Total debt | 12.7M | 13.3M | 13M | 13M | 13.3M | 1.2M | 1.1M | 1M | 931K | 838K | 293K | 217K |
| Net debt | -39.4M | -24.4M | -34.6M | -35.5M | -35.5M | -39.7M | -50.2M | -43.1M | -35.4M | -37.1M | -38.8M | -12.3M |
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 | -17.5M | -25.4M | -34.4M | -57.8M | -73.3M | -69M | -58.7M | -77.7M |
| Depreciation & amortization | 338K | 388K | 318K | 307K | 315K | 1.3M | 1.1M | 133K |
| Stock-based compensation | 1.1M | 908K | 1.9M | 5.3M | 10.2M | 12.4M | 8.9M | 5.9M |
| Change in working capital | 267K | 1.8M | -1.2M | 191K | 2.6M | 1.1M | 3.6M | -3.4M |
| Operating cash flow | -15.9M | -22.2M | -33.3M | -51.1M | -60M | -54.6M | -45.4M | -73.6M |
| Capital expenditure | -452K | -109K | -148K | -1.3M | -8M | -962K | -404K | — |
| Investing cash flow | 21.7M | 3.2M | 27.9M | -143.6M | -1.4M | -50.5M | 53.4M | 70.2M |
| Dividends paid | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — |
| Financing cash flow | 0 | 61.5M | 293M | 0 | 0 | 35.1M | 0 | 0 |
| Net change in cash | 5.8M | 42.5M | 287.6M | -194.6M | -61.4M | -70M | 8M | -3.4M |
| Free cash flow | -15.6M | -22.2M | -32.9M | -47.9M | -71.7M | -56.6M | -51.9M | -73.6M |
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 | 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 | -16.6M | -15.8M | -15.3M | -1.2M | -19.2M | -23M | -17.4M | -21.2M | -21.1M | -18M | -18M | -18.1M |
| Depreciation & amortization | 358K | 359K | 362K | 372K | 371K | 39K | 37K | 32K | 31K | 33K | 34K | 24K |
| Stock-based compensation | 3.3M | 3M | 2.6M | 2.8M | 2.2M | 1.3M | 1.5M | 1.7M | 1.4M | 1.4M | 1.4M | 1.5M |
| Change in working capital | -1.8M | 1.6M | -2.4M | 3.7M | -2.5M | 4.5M | -3M | -995K | 801K | -244K | -1.5M | 389K |
| Operating cash flow | -14.9M | -11M | -14.8M | 5.5M | -19.3M | -17.1M | -18.9M | -18.3M | -19.8M | -17.2M | -19.7M | -14.6M |
| Capital expenditure | -44K | -197K | -594K | -4K | 28K | 166K | -4K | — | — | — | — | — |
| Investing cash flow | -33.6M | -2.6M | 26.2M | 2.3M | 17.1M | 7.7M | 28.7M | 11M | 12M | 18.5M | 20.8M | -12.2M |
| Dividends paid | — | — | — | — | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — | — | — | — | — |
| Financing cash flow | 33.1M | 0 | — | — | 0 | 0 | — | — | — | — | — | — |
| Net change in cash | -15.4M | -13.6M | 11.4M | 7.8M | -2.1M | -9.4M | 9.8M | -7.3M | -7.8M | 1.3M | 1.1M | -26.8M |
| Free cash flow | -15.7M | -12.3M | -16.8M | -1.6M | -16.8M | -16.7M | -18.3M | -18.3M | -19.8M | -17.2M | -19.7M | -14.6M |