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 | -$0.18 | -$0.14 | +22.2% | — | $5.7M | — |
| Q1 26 | -$0.27 | -$0.13 | +51.9% | — | $4.6M | — |
| Q4 25 | -$0.18 | -$0.2 | -11.1% | — | $5.6M | — |
| Q3 25 | -$0.35 | -$0.26 | +25.7% | — | $6.5M | — |
| Q2 25 | -$0.43 | -$0.41 | +4.7% | — | $0 | — |
| Q1 25 | -$0.46 | -$0.42 | +8.7% | — | $0 | — |
| Q4 24 | -$0.47 | -$0.37 | +21.3% | — | $4M | — |
| Q3 24 | -$0.46 | -$0.43 | +6.5% | — | $3M | — |
| Q2 24 | -$0.43 | -$0.46 | -7.0% | — | $0 | — |
| Q1 24 | -$0.48 | -$0.42 | +12.5% | — | $0 | — |
| Q4 23 | -$0.49 | -$0.45 | +8.2% | — | $0 | — |
| Q3 23 | -$0.58 | -$0.45 | +22.4% | — | $0 | — |
| Q2 23 | -$0.63 | -$0.54 | +14.3% | — | $0 | — |
| Q1 23 | -$0.7 | -$0.58 | +17.1% | — | $0 | — |
| Q4 22 | -$0.62 | -$0.6 | +3.2% | — | $0 | — |
| Q3 22 | -$0.64 | -$0.63 | +1.6% | — | $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 | — | -$1.29 | — | — | $12.1M | — |
| FY24 | — | -$1.68 | — | — | $7M | — |
| FY23 | — | -$2.02 | — | — | $0 | — |
| FY22 | — | -$2.44 | — | — | $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 | $7M | $12.1M |
| YoY change | — | 0% | 0% | 0% | 0% | 0% | +InfinityT% | +73.4% |
Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.
| Period |
|---|
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 | 7M | 12.1M |
| Cost of revenue | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — | — |
| Research & development | 12.6M | 24.3M | 48.2M | 86.8M | 92.9M | 103.4M | 118M | 94.3M |
| Selling, general & administrative | 2.4M | 3.8M | 10.6M | 27M | 30.7M | 28.9M | 28.7M | 22.4M |
| Operating expenses | 15M | 28.1M | 58.8M | 113.7M | 123.5M | 132.3M | 146.7M | 116.7M |
| Operating income | -15M | -28.1M | -58.8M | -113.7M | -123.5M | -132.3M | -139.7M | -104.6M |
| Operating margin | — | — | — | — | — | — | -2K% | -861.3% |
| Non-operating income, net | 295K | 539K | 1.8M | 2M | 8.1M | 10.4M | 12.5M | 5.1M |
| Pretax income | -14.7M | -27.6M | -56.9M | -111.7M | -115.4M | -121.8M | -127.2M | -99.5M |
| Income tax | — | — | — | — | — | — | — | — |
| Net income | -14.7M | -27.6M | -56.9M | -111.7M | -115.4M | -121.8M | -127.2M | -99.5M |
| Net margin | — | — | — | — | — | — | -1.8K% | -819.6% |
| EBITDA | -14.8M | -27.7M | -58.2M | -112.8M | -122.2M | -131.1M | -137.9M | -102.9M |
| EPS | -0.46 | -0.85 | -4.56 | -2.43 | -2.44 | -2.02 | -1.68 | -1.29 |
| Diluted EPS | -0.46 | -0.85 | -4.56 | -2.43 | -2.44 | -2.02 | -1.68 | -1.29 |
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 | 3M | 4M | 0 | 0 | 6.5M | 5.6M | 4.6M | 5.7M |
| Cost of revenue | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — | — | — | — | — | — |
| Research & development | 26.3M | 30.3M | 27.4M | 29.5M | 29.5M | 31.6M | 28.8M | 25.8M | 21.7M | 18M | 13.6M | 16.1M |
| Selling, general & administrative | 7.1M | 7M | 6.9M | 7.7M | 7.9M | 6.2M | 5.8M | 6.4M | 5.2M | 5M | 5.2M | 5M |
| Operating expenses | 33.4M | 37.4M | 34.3M | 37.2M | 37.4M | 37.8M | 34.6M | 32.2M | 26.9M | 23M | 18.8M | 21.2M |
| Operating income | -33.4M | -37.4M | -34.3M | -37.2M | -34.4M | -33.8M | -34.6M | -32.2M | -20.4M | -17.3M | -14.2M | -15.5M |
| Operating margin | — | — | — | — | -1.1K% | -845.8% | — | — | -314.1% | -307.6% | -309.5% | -270.9% |
| Non-operating income, net | 2.8M | 4.3M | 2.9M | 2.4M | 2.1M | 5.1M | 2.5M | 963K | 693K | 891K | 3.8M | 1.5M |
| Pretax income | -30.6M | -33.1M | -31.4M | -34.7M | -32.3M | -28.7M | -32.1M | -31.2M | -19.7M | -16.5M | -10.4M | -13.9M |
| Income tax | — | — | — | — | — | — | — | — | — | — | — | — |
| Net income | -30.6M | -33.1M | -31.4M | -34.7M | -32.3M | -28.7M | -32.1M | -31.2M | -19.7M | -16.5M | -10.4M | -13.9M |
| Net margin | — | — | — | — | -1.1K% | -718.3% | — | — | -303.5% | -291.8% | -226.7% | -244.1% |
| EBITDA | -33.1M | -37M | -33.9M | -36.7M | -34M | -33.3M | -34.2M | -31.8M | -20M | -16.9M | -13.8M | -15.1M |
| EPS | -0.45 | — | -0.42 | -0.46 | -0.43 | — | -0.42 | -0.41 | -0.26 | — | -0.13 | -0.14 |
| Diluted EPS | -0.45 | — | -0.42 | -0.46 | -0.43 | — | -0.42 | -0.41 | -0.26 | — | -0.13 | -0.14 |
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 | — | — | — | — | 286.1M | — | — | 223.2M | 312M |
| Enterprise value | — | — | — | — | 86.2M | — | — | 137.7M | 265M |
| Shares outstanding | 32.1M | 32.4M | 12.5M | 46M | 47.4M | 60.4M | 75.8M | 77M | 77M |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| P/E | — | — | — | — | — | — | — | — | -3.02 |
| P/S | — | — | — | — | — | — | — | 18.4 | 13.9 |
| P/B | — | — | — | — | 1.46 | — | — | 3.25 | 3.01 |
| EV/EBITDA | — | — | — | — | -0.71 | — | — | -1.34 | -4.11 |
| EV/Sales | — | — | — | — | — | — | — | 11.3 | 11.8 |
| Earnings yield | — | — | — | — | — | — | — | — | -33.2% |
| FCF yield | — | — | — | — | -30.3% | — | — | -25.3% | -4.44% |
| PEG | — | — | — | — | — | — | — | — | 0.05 |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Operating margin | — | — | — | — | — | — | -2K% | -861.3% | -270.9% |
| Net margin | — | — | — | — | — | — | -1.8K% | -819.6% | -269.7% |
| ROE | 64.7% | 55.8% | -26.8% | -39.1% | -59.1% | -51.4% | -96.7% | -145% | -57.7% |
| ROA | -89.5% | -126.1% | -25.5% | -36.6% | -52.4% | -43.9% | -72.5% | -70.4% | -27.2% |
| Return on tangible assets | -89.5% | -126.1% | -25.5% | -36.6% | -52.4% | -43.9% | -72.5% | -70.4% | -31.9% |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Current ratio | 6.37 | 4.18 | 19.4 | 15.4 | 9.42 | 10.8 | 5.3 | 1.99 | 4.07 |
| Quick ratio | 6.37 | 4.18 | 19.4 | 15.4 | 9.42 | 10.8 | 5.3 | 1.99 | 4.07 |
| Debt / equity | — | -0.01 | — | 0.01 | 0.01 | 0.07 | 0.14 | 0.26 | 0.13 |
| Debt / assets | — | 0.01 | — | 0.01 | 0.01 | 0.06 | 0.1 | 0.13 | 0.09 |
| Net debt / EBITDA | — | 0.67 | — | 2.57 | 1.64 | 1.65 | 0.84 | 0.83 | 2.04 |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Revenue per share | 0 | 0 | 0 | 0 | 0 | 0 | 0.09 | 0.16 | 0.27 |
| EPS (basic) | -0.46 | -0.85 | -4.56 | -2.43 | -2.44 | -2.02 | -1.68 | -1.29 | -1.29 |
| EPS (diluted) | -0.46 | -0.85 | -4.56 | -2.43 | -2.44 | -2.02 | -1.68 | -1.29 | -0.73 |
| Book value per share | -0.71 | -1.52 | 17 | 6.21 | 4.13 | 3.93 | 1.73 | 0.89 | 1.3 |
| FCF per share | -0.42 | -0.82 | -3.75 | -1.86 | -1.83 | -1.83 | -1.37 | -0.73 | -0.34 |
| Cash per share | 0.49 | 0.58 | 17.5 | 6.32 | 4.26 | 3.86 | 1.76 | 1.34 | 1.47 |
| Capex per share | 0.02 | 0.02 | 0.05 | 0.05 | 0.06 | 0.06 | 0.01 | — | — |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Capex / revenue | — | — | — | — | — | — | 10.9% | — | — |
| Capex / operating cash flow | -3.88% | -3.02% | -1.25% | -2.7% | -3.38% | -3.62% | -0.78% | — | — |
| Payout ratio | — | — | — | — | — | — | — | — | 0% |
| — |
| -$2.43 |
| — |
| — |
| $0 |
| — |
| FY20 | — | -$4.56 | — | — | $0 | — |
| FY19 | — | -$0.85 | — | — | $0 | — |
| FY18 | — | -$0.46 | — | — | $0 | — |
| 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 | $3M | $4M | $0 | $0 | $6.5M | $5.6M | $4.6M | $5.7M |
| YoY change | 0% | 0% | 0% | 0% | +InfinityT% | +InfinityT% | 0% | 0% | +116.7% | +41% | +InfinityT% | +InfinityT% |
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 | 15.6M | 18.9M | 218.3M | 291.2M | 201.7M | 232.9M | 133.6M | 103.2M |
| Receivables | — | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — | — |
| Total current assets | 15.6M | 20.2M | 220.8M | 295.1M | 204.4M | 235.6M | 135.9M | 105.7M |
| Property, plant & equipment | 811K | 1.6M | 2.5M | 5.6M | 6.7M | 37.7M | 35.5M | 32.3M |
| Goodwill & intangibles | — | — | — | — | — | — | — | — |
| Total assets | 16.4M | 21.9M | 223.6M | 305.1M | 220.5M | 277.7M | 175.5M | 141.3M |
| Accounts payable | 1.4M | 2M | 3.9M | 7.8M | 6.8M | 4.6M | 7.7M | 4M |
| Short-term debt | — | 258K | — | 1.7M | 1.8M | 1.5M | 2.7M | 2.7M |
| Total current liabilities | 2.4M | 4.8M | 11.4M | 19.2M | 21.7M | 21.8M | 25.6M | 53M |
| Long-term debt | — | — | — | — | 0 | 15.4M | 15.3M | 15M |
| Total liabilities | 39.1M | 71.3M | 11.4M | 19.2M | 25.1M | 40.6M | 44.1M | 72.7M |
| Shareholders' equity | -22.7M | -49.4M | 212.2M | 285.9M | 195.4M | 237.1M | 131.5M | 68.6M |
| Total debt | — | 258K | — | 1.7M | 1.8M | 16.9M | 18M | 17.8M |
| Net debt | — | -18.6M | — | -30.1M | -28.8M | -8.4M | 5.6M | -17.5M |
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 | 230.5M | 232.9M | 201.9M | 179.8M | 153.6M | 133.6M | 99.1M | 73.2M | 55M | 103.2M | 81.6M | 151.8M |
| Receivables | — | — | — | — | — | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current assets | 234.9M | 235.6M | 205.4M | 182.7M | 156.4M | 135.9M | 102.4M | 76.9M | 58.3M | 105.7M | 84.6M | 154.9M |
| Property, plant & equipment | 7.1M | 37.7M | 37.4M | 37.1M | 36.4M | 35.5M | 34.7M | 33.9M | 33.1M | 32.3M | 31.5M | 30.8M |
| Goodwill & intangibles | — | — | — | — | — | — | — | — | — | — | — | — |
| Total assets | 258.5M | 277.7M | 247.1M | 224.3M | 197.2M | 175.5M | 141.3M | 114.9M | 94.8M | 141.3M | 119.6M | 189.4M |
| Accounts payable | 5.2M | 4.6M | 5.3M | 6.2M | 5.9M | 7.7M | 5.8M | 5M | 2.5M | 4M | 2.1M | 2M |
| Short-term debt | 475K | 1.5M | 2.2M | 2.7M | 2.7M | 2.7M | 2.7M | 2.7M | 2.7M | 2.7M | 2.8M | 2.8M |
| Total current liabilities | 16.9M | 21.8M | 17.6M | 23.3M | 22.2M | 25.6M | 19.8M | 20.9M | 18.2M | 53M | 41.7M | 38M |
| Long-term debt | — | 15.4M | 15.5M | 15.5M | 15.4M | 15.3M | 15.3M | 15.2M | 15.1M | 15M | 15M | 14.9M |
| Total liabilities | 20.3M | 40.6M | 36.4M | 42M | 40.8M | 44.1M | 38.1M | 39.1M | 36.2M | 72.7M | 59.5M | 55.6M |
| Shareholders' equity | 238.3M | 237.1M | 210.7M | 182.3M | 156.4M | 131.5M | 103.2M | 75.8M | 58.5M | 68.6M | 60.2M | 133.7M |
| Total debt | 475K | 16.9M | 17.6M | 18.2M | 18.1M | 18M | 17.9M | 17.9M | 17.9M | 17.8M | 17.7M | 17.6M |
| Net debt | -15.4M | -8.4M | -7.1M | -9.6M | 7M | 5.6M | -22.3M | -7.8M | -29.7M | -17.5M | -4M | -8.7M |
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 | -14.7M | -27.6M | -56.9M | -111.7M | -115.4M | -121.8M | -127.2M | -99.5M |
| Depreciation & amortization | 149K | 382K | 542K | 915K | 1.3M | 1.2M | 1.8M | 1.7M |
| Stock-based compensation | 180K | 846K | 5.6M | 20.9M | 25.1M | 25.6M | 21.3M | 11.9M |
| Change in working capital | 721K | 546K | 1.2M | 2.5M | -2.1M | -3.9M | 4.4M | 31.6M |
| Operating cash flow | -13.6M | -25.8M | -49.6M | -86M | -89.3M | -97M | -98.1M | -56.3M |
| Capital expenditure | -529K | -780K | -621K | -2.3M | -3M | -3.5M | -764K | — |
| Investing cash flow | -529K | -780K | -621K | -263.8M | 81.7M | -34.6M | 90.2M | 53.5M |
| Dividends paid | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — |
| Financing cash flow | 17.9M | 29.7M | 246.1M | 161.1M | 0 | 135.7M | -559K | 24.6M |
| Net change in cash | 3.8M | 3.1M | 195.9M | -188.7M | -7.6M | 4.1M | -8.5M | 21.9M |
| Free cash flow | -13.5M | -26.4M | -46.8M | -85.9M | -86.7M | -110.6M | -103.7M | -56.4M |
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 | -30.6M | — | — | — | — | — | — | — | -19.7M | -16.5M | -10.4M | -13.9M |
| Depreciation & amortization | 279K | — | — | — | — | — | — | — | 425K | 418K | 391K | 353K |
| Stock-based compensation | 6.7M | — | — | — | — | — | — | — | 2.4M | 1.8M | 2M | 2M |
| Change in working capital | -4M | — | — | — | — | — | — | — | -2.5M | 1.2M | -6.5M | -5.9M |
| Operating cash flow | -27.2M | — | — | — | — | — | — | — | -19.1M | 23.1M | -21.7M | -15.6M |
| Capital expenditure | -591K | — | — | — | — | — | — | — | — | — | — | — |
| Investing cash flow | 15M | — | — | — | — | — | — | — | 40.1M | -60.3M | 8.5M | -65.5M |
| Dividends paid | — | — | — | — | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — | — | — | — | — |
| Financing cash flow | 104K | -1K | -16K | -102K | -39K | -7K | -5K | -2K | -5K | -5K | -345K | -4.4M |
| Net change in cash | -12M | -1K | -16K | -102K | -39K | -7K | -5K | -2K | 21M | -37.2M | -13.5M | -85.5M |
| Free cash flow | -26.3M | — | — | — | — | — | — | — | -19.1M | 23.1M | -21.7M | -15.6M |