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 | -$3.69 | -$2.87 | +22.2% | — | $0 | — |
| Q1 26 | -$3.68 | -$3.2 | +13.0% | — | $0 | — |
| Q4 25 | -$3.13 | -$3.5 | -11.8% | — | $0 | — |
| Q3 25 | -$3.49 | -$3.36 | +3.7% | — | $0 | — |
| Q2 25 | -$3.36 | -$3.31 | +1.5% | — | $0 | — |
| Q1 25 | -$3.21 | -$3.29 | -2.5% | — | $0 | — |
| Q4 24 | -$2.82 | -$2.94 | -4.3% | — | $7.5M | — |
| Q3 24 | -$1.95 | -$2.75 | -41.0% | — | $302K | — |
| Q2 24 | -$2.32 | -$1.74 | +25.0% | — | $357K | — |
| Q1 24 | -$2.16 | -$2.84 | -31.5% | — | $431K | — |
| Q4 23 | -$3.17 | -$2.97 | +6.3% | — | $515K | — |
| Q3 23 | -$4.89 | -$2.7 | +44.8% | — | $468K | — |
| Q2 23 | -$10.6 | -$7.35 | +30.7% | — | $781K | — |
| Q1 23 | -$12.8 | -$10.7 | +16.8% | — | $683K | — |
| Q4 22 | -$12 | -$13.1 | -8.5% | — | $0 | — |
| Q3 22 | -$0.89 | -$0.96 | -7.9% | — | $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 | — | -$13.5 | — | — | $0 | — |
| FY24 | — | -$10.2 | — | — | $8.6M | — |
| FY23 | — | -$18.7 | — | — | $2.4M | — |
| FY22 | — | -$69.6 | — | — | $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 | $2.4M | $8.6M | $0 |
| YoY change | — | 0% | 0% | 0% | 0% | +InfinityT% | +249.5% | -100% |
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 | 0 | 0 | 0 | 0 | 0 | 2.4M | 8.6M | 0 |
| Cost of revenue | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — | — |
| Research & development | 18.8M | 29.6M | 45M | 120.3M | 155M | 86.8M | 152.4M | 267.1M |
| Selling, general & administrative | 3.9M | 6.2M | 17M | 47.1M | 59.9M | 42.1M | 56.3M | 59.1M |
| Operating expenses | 22.7M | 35.8M | 62M | 167.3M | 215M | 128.8M | 208.7M | 326.2M |
| Operating income | -22.7M | -35.8M | -62M | -167.3M | -215M | -126.4M | -200.2M | -326.2M |
| Operating margin | — | — | — | — | — | -5.2K% | -2.3K% | — |
| Non-operating income, net | -3.6M | — | 140K | 271K | 957K | 3.1M | 17.3M | 22.9M |
| Pretax income | -26.4M | -35.6M | -61.8M | -167.1M | -214M | -123.3M | -182.8M | -303.3M |
| Income tax | 133K | -84K | -8K | 0 | — | — | — | — |
| Net income | -26.5M | -35.5M | -61.8M | -167.1M | -214M | -123.3M | -182.8M | -303.3M |
| Net margin | — | — | — | — | — | -5K% | -2.1K% | — |
| EBITDA | -26.3M | -35.8M | -61.9M | -167.2M | -214.6M | -125.9M | -199.8M | -326.1M |
| EPS | -33 | -35.5 | -27.6 | -59.1 | -69.6 | -18.7 | -10.2 | -13.5 |
| Diluted EPS | -33 | -35.5 | -27.6 | -59.1 | -69.6 | -18.7 | -10.2 | -13.5 |
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 | 468K | 515K | 431K | 357K | 302K | 7.5M | 0 | 0 | 0 | 0 | 0 | 0 |
| Cost of revenue | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — | — | — | — | — | — |
| Research & development | 17.3M | 18.4M | 27M | 27.3M | 41.9M | 56.3M | 60.8M | 63M | 65.8M | 77.5M | 78M | 69.4M |
| Selling, general & administrative | 8.7M | 9.9M | 15.3M | 10.6M | 15.3M | 15.1M | 13.9M | 13.1M | 12.6M | 19.5M | 27.9M | 27.5M |
| Operating expenses | 26M | 28.3M | 42.3M | 37.8M | 57.1M | 71.4M | 74.7M | 76.1M | 78.4M | 97M | 105.9M | 96.9M |
| Operating income | -25.5M | -27.8M | -41.9M | -37.5M | -56.8M | -64M | -74.7M | -76.1M | -78.4M | -97M | -105.9M | -96.9M |
| Operating margin | -5.5K% | -5.4K% | -9.7K% | -10.5K% | -18.8K% | -857% | — | — | — | — | — | — |
| Non-operating income, net | 884K | 928K | 2.3M | 4.8M | 4.9M | 5.3M | 5.4M | 4.9M | 4.4M | 8.1M | 13.3M | 13.2M |
| Pretax income | -24.6M | -26.9M | -39.6M | -32.7M | -51.9M | -58.7M | -69.3M | -71.1M | -73.9M | -88.9M | -92.6M | -83.7M |
| Income tax | — | — | — | — | — | — | — | — | — | — | — | — |
| Net income | -24.6M | -26.9M | -39.6M | -32.7M | -51.9M | -58.7M | -69.3M | -71.1M | -73.9M | -88.9M | -92.6M | -83.7M |
| Net margin | -5.3K% | -5.2K% | -9.2K% | -9.2K% | -17.2K% | -786.3% | — | — | — | — | — | — |
| EBITDA | -25.4M | -27.7M | -41.8M | -37.4M | -56.7M | -63.9M | -74.7M | -76M | -78.3M | -97M | -105.8M | -96.9M |
| EPS | -2.72 | — | -2.84 | -1.74 | -2.75 | -2.94 | -3.29 | -3.31 | -3.36 | -3.5 | -3.2 | -2.87 |
| Diluted EPS | -2.72 | — | -2.84 | -1.74 | -2.75 | -2.94 | -3.29 | -3.31 | -3.36 | -3.5 | -3.2 | -2.87 |
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 | — | — | — | — | 109.7M | — | — | — | 8B |
| Enterprise value | — | — | — | — | 12.7M | — | — | — | 7.1B |
| Shares outstanding | 884.7K | 1.1M | 2.6M | 2.8M | 3.1M | 6.6M | 17.9M | 22.5M | 22.5M |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| P/E | — | — | — | — | — | — | — | — | -21.2 |
| P/B | — | — | — | — | 1.44 | — | — | — | 6.06 |
| EV/EBITDA | — | — | — | — | -0.06 | — | — | — | -18.7 |
| Earnings yield | — | — | — | — | — | — | — | — | -4.72% |
| FCF yield | — | — | — | — | -169.1% | — | — | — | -2.5% |
| PEG | — | — | — | — | — | — | — | — | 1.59 |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Operating margin | — | — | — | — | — | -5.2K% | -2.3K% | — | 0% |
| Net margin | — | — | — | — | — | -5K% | -2.1K% | — | 0% |
| ROE | -180.7% | -88.5% | -21.5% | -66.6% | -281.2% | -176.9% | -41% | -34.5% | -38.9% |
| ROA | -133.8% | -74.5% | -20.4% | -57.1% | -185.9% | -140.2% | -37.8% | -32.3% | -25.7% |
| ROIC | 695.2% | 1.1K% | 738.8% | 804.9% | — | — | — | — | — |
| Return on tangible assets | -133.8% | -74.5% | -20.4% | -57.1% | -185.9% | -140.2% | -37.8% | -32.3% | -24.4% |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Current ratio | 3.72 | 6.67 | 19.2 | 7.48 | 3.23 | 5.39 | 10.8 | 10.2 | 15.7 |
| Quick ratio | 3.72 | 6.67 | 19.2 | 7.48 | 3.23 | 5.39 | 10.8 | 10.2 | 15.7 |
| Debt / equity | 0 | 0.04 | 0 | 0.02 | 0.05 | 0.04 | 0 | 0 | 0 |
| Debt / assets | 0 | 0.03 | 0 | 0.01 | 0.03 | 0.03 | 0 | 0 | 0 |
| Net debt / EBITDA | 0.68 | 1.21 | 4.78 | 1.62 | 0.45 | 0.63 | 1.96 | 1.84 | 2 |
| Interest coverage | -206.9 | — | — | — | — | — | — | — | — |
| Effective tax rate | 0% | 0% | 0% | 0% | — | — | — | — | — |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Revenue per share | 0 | 0 | 0 | 0 | 0 | 0.37 | 0.48 | 0 | 0 |
| EPS (basic) | -33 | -35.5 | -27.6 | -59.1 | -69.6 | -18.7 | -10.2 | -13.5 | -13.5 |
| EPS (diluted) | -33 | -35.5 | -27.6 | -59.1 | -69.6 | -18.7 | -10.2 | -13.5 | -13 |
| Book value per share | 16.6 | 35 | 112.7 | 88.6 | 24.8 | 10.6 | 24.9 | 39 | 48 |
| FCF per share | -23.5 | -29.3 | -20.6 | -44.4 | -60.4 | -16.9 | -7.36 | -11.1 | -10.5 |
| Cash per share | 20.3 | 39.1 | 116.3 | 97.5 | 32.7 | 12.3 | 21.9 | 26.6 | 27.2 |
| Capex per share | 0.07 | 0.09 | 0 | 0.37 | 0.14 | 0.01 | 0 | — | — |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Capex / revenue | — | — | — | — | — | 2.04% | 0% | — | — |
| Capex / operating cash flow | -0.26% | -0.29% | 0% | -0.77% | -0.25% | -0.05% | 0% | — | — |
| Payout ratio | — | — | — | — | — | — | — | — | 0% |
| — |
| -$59.1 |
| — |
| — |
| $0 |
| — |
| FY20 | — | -$27.6 | — | — | $0 | — |
| FY19 | — | -$35.5 | — | — | $0 | — |
| FY18 | — | -$33 | — | — | $0 | — |
| 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 | $468K | $515K | $431K | $357K | $302K | $7.5M | $0 | $0 | $0 | $0 | $0 | $0 |
| YoY change | +InfinityT% | +InfinityT% | -36.9% | -54.3% | -35.5% | +1.3K% | -100% | -100% | -100% | -100% | 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 | 17.9M | 44.8M | 296.6M | 275.9M | 100.5M | 81.3M | 392.6M | 599.3M |
| Receivables | — | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — | — |
| Total current assets | 19.1M | 45.5M | 302.3M | 287.4M | 110.8M | 84.9M | 404.4M | 610.9M |
| Property, plant & equipment | 103K | 128K | 82K | 1.2M | 971K | 588K | 230K | 147K |
| Goodwill & intangibles | — | — | — | — | — | — | — | — |
| Total assets | 19.8M | 47.7M | 303.2M | 292.7M | 115.1M | 87.9M | 483.1M | 937.9M |
| Accounts payable | 3.4M | 2.7M | 4.1M | 10.8M | 14.7M | 5.8M | 12.5M | 24.6M |
| Short-term debt | — | 696K | 763K | 810K | 1M | 1.1M | 1.3M | 110K |
| Total current liabilities | 5.1M | 6.8M | 15.7M | 38.4M | 34.3M | 15.7M | 37.5M | 59.8M |
| Long-term debt | 0 | 763K | 0 | 3.5M | 2.5M | 1.4M | 110K | 0 |
| Total liabilities | 5.1M | 7.6M | 15.7M | 41.9M | 39M | 18.3M | 37.7M | 59.8M |
| Shareholders' equity | 14.7M | 40.1M | 287.5M | 250.8M | 76.1M | 69.7M | 445.4M | 878.1M |
| Total debt | 0 | 1.5M | 763K | 4.3M | 3.5M | 2.5M | 1.4M | 110K |
| Net debt | -17.9M | -43.4M | -295.8M | -134.4M | -58.1M | -78.8M | -214M | -357.2M |
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 | 101.1M | 81.3M | 207.4M | 351.9M | 357M | 392.6M | 328M | 301.3M | 267.2M | 599.3M | 786.9M | 758.6M |
| Receivables | — | — | — | — | — | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current assets | 103.3M | 84.9M | 211.8M | 356.7M | 360M | 404.4M | 333.6M | 306.6M | 273.8M | 610.9M | 797.8M | 771.9M |
| Property, plant & equipment | 3M | 588K | 2.3M | 2M | 277K | 230K | 247K | 258K | 174K | 147K | 170K | 492K |
| Goodwill & intangibles | — | — | — | — | — | — | — | — | — | — | — | 1.5M |
| Total assets | 106.7M | 87.9M | 250.4M | 441.1M | 416.3M | 483.1M | 478.7M | 452.8M | 396.4M | 937.9M | 1.5B | 1.4B |
| Accounts payable | 7.2M | 5.8M | 9.4M | 8.2M | 15M | 12.5M | 22.9M | 28.8M | 30.8M | 24.6M | 31.2M | 23.4M |
| Short-term debt | 1.1M | 1.1M | 1.2M | 1.2M | 1.2M | 1.3M | 1.1M | 755K | 436K | 110K | 1.4M | 1.1M |
| Total current liabilities | 16.8M | 15.7M | 18.8M | 20.6M | 32.9M | 37.5M | 39.5M | 48.6M | 52.9M | 59.8M | 50.2M | 49.1M |
| Long-term debt | 1.7M | 1.4M | 1.1M | 755K | 436K | 110K | 0 | 0 | 0 | 0 | — | — |
| Total liabilities | 20M | 18.3M | 20.7M | 22M | 33.6M | 37.7M | 39.5M | 48.6M | 52.9M | 59.8M | 50.2M | 49.1M |
| Shareholders' equity | 86.8M | 69.7M | 229.7M | 419.1M | 382.7M | 445.4M | 439.2M | 404.2M | 343.5M | 878.1M | 1.4B | 1.3B |
| Total debt | 2.8M | 2.5M | 2.2M | 1.9M | 1.7M | 1.4M | 1.1M | 755K | 436K | 110K | 1.4M | 1.1M |
| Net debt | -98.3M | -78.8M | -149.8M | -143.2M | -167M | -214M | -164.5M | -156.7M | -149.1M | -357.2M | -534.9M | -473.7M |
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 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|
| Net income | -26.5M | -35.5M | -61.8M | -167.1M | -214M | -123.3M | -182.8M | -303.3M |
| Depreciation & amortization | 1K | 37K | 50K | 182K | 419K | 432K | 358K | 140K |
| Stock-based compensation | 579K | 668K | 5.2M | 22.7M | 28.6M | 24.9M | 41.4M | 33.9M |
| Change in working capital | 1.7M | -1.5M | 269K | 6.5M | 8.1M | -12.3M | 3M | 10.8M |
| Operating cash flow | -24.2M | -35.7M | -55.6M | -136.3M | -176.1M | -109.5M | -134.6M | -249.1M |
| Capital expenditure | -63K | -103K | 0 | -1.1M | -444K | -50K | 0 | — |
| Investing cash flow | -63K | -103K | 0 | -140.5M | 96.9M | 39M | -248.5M | -311.1M |
| Dividends paid | — | — | — | — | — | — | — | — |
| Share repurchases | — | 0 | -30M | 0 | — | — | — | — |
| Financing cash flow | 37.8M | 60.4M | 304.3M | 105.1M | 9M | 91.5M | 511.7M | 688.9M |
| Net change in cash | 13.6M | 24.6M | 248.7M | -171.7M | -70.2M | 20.9M | 128.6M | 128.7M |
| Free cash flow | -20.8M | -33.5M | -52.6M | -125.6M | -185.5M | -111.2M | -131.8M | -249.1M |
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 | -24.6M | -26.9M | -39.6M | -32.7M | -51.9M | -58.7M | -69.3M | -71.1M | -73.9M | -88.9M | -92.6M | -83.7M |
| Depreciation & amortization | 109K | 111K | 112K | 107K | 92K | 47K | 47K | 46K | 19K | 28K | 39K | 33K |
| Stock-based compensation | 5.8M | 5.7M | 14.5M | 5.9M | 12.4M | 8.6M | 8.8M | 7.8M | 7.4M | 9.9M | 17.1M | 11.3M |
| Change in working capital | -1.6M | -2.1M | 2.9M | -2M | 6.4M | -4.2M | 10.1M | 5.6M | 1.7M | -6.5M | 6.4M | -8.2M |
| Operating cash flow | -20.2M | -22.9M | -19.4M | -28.5M | -32.7M | -54M | -50.1M | -54.7M | -65.1M | -76.3M | -86.2M | -77.5M |
| Capital expenditure | 0 | -50K | — | — | — | — | — | — | — | — | — | — |
| Investing cash flow | 0 | -50K | -91.2M | -195.9M | 49.6M | -10.9M | -51.1M | 17.9M | 50.4M | -328.4M | -344.2M | 12M |
| Dividends paid | — | — | — | — | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — | — | — | — | — |
| Financing cash flow | -1K | 4M | 182.6M | 216M | 1.2M | 111.8M | 53.7M | 28.3M | 5.9M | 600.9M | 608.3M | -310K |
| Net change in cash | -20.2M | -18.9M | 72M | -8.4M | 18.1M | 46.8M | -47.5M | -8.4M | -8.7M | 196.2M | 177.9M | -65.9M |
| Free cash flow | -23.2M | -23.9M | -20.9M | -27.3M | -27.5M | -56.1M | -53M | -54.7M | -65.1M | -76.3M | -86.2M | -78.6M |