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 | -$0.14 | -$0.15 | -7.1% | — | $150K | — |
| Q1 26 | -$0.14 | -$0.14 | 0.0% | — | $226K | — |
| Q4 25 | -$0.15 | -$0.14 | +6.7% | — | $225K | — |
| Q3 25 | -$0.14 | -$0.12 | +14.3% | — | $217K | — |
| Q2 25 | -$0.14 | -$0.13 | +7.1% | — | $221K | — |
| Q1 25 | -$0.15 | -$0.13 | +13.3% | — | $230K | — |
| Q4 24 | -$0.15 | -$0.17 | -13.3% | — | $76K | — |
| Q3 24 | -$0.22 | -$0.14 | +36.4% | — | $0 | — |
| Q2 24 | -$0.18 | -$0.16 | +11.1% | — | $0 | — |
| Q1 24 | -$0.18 | -$0.16 | +11.1% | — | $0 | — |
| Q4 23 | -$0.18 | -$0.09 | +50.0% | — | $0 | — |
| Q3 23 | -$0.16 | -$0.18 | -12.5% | — | $0 | — |
| Q2 23 | -$0.39 | -$0.14 | +64.1% | — | $0 | — |
| Q1 23 | -$0.39 | -$0.16 | +59.0% | — | $0 | — |
| Q4 22 | -$0.24 | -$0.11 | +54.2% | — | $0 | — |
| Q3 22 | -$0.31 | -$0.13 | +58.1% | — | $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 | — | -$0.52 | — | — | $893K | — |
| FY24 | — | -$0.62 | — | — | $76K | — |
| FY23 | — | -$0.57 | — | — | $0 | — |
| FY22 | — | -$0.23 | — | — | $0 | — |
| FY21 | — | -$0.3 | — |
Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.
| Period | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 | $76K | $893K |
| YoY change | — | 0% | 0% | 0% | +InfinityT% | +1.1K% |
Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.
| Period | Q3 23 | Q4 23 | Q1 24 | Q2 24 | Q3 24 | Q4 24 |
|---|
Revenue, gross profit, operating income, and net income per period.
Click a row to chart it; unreported figures show a dash.
| Period | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | 0 | 76K | 893K |
| Cost of revenue | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — |
| Research & development | 21M | 46.3M | 82.1M | 106.7M | 127.7M | 114.1M |
| Selling, general & administrative | 6M | 8.9M | 70.9M | 44.8M | 56.1M | 51.8M |
| Operating expenses | 27M | 55.1M | 153M | 151.5M | 183.8M | 165.9M |
| Operating income | -27M | -55.1M | -153M | -151.5M | -183.7M | -165M |
| Operating margin | — | — | — | — | -241.7K% | -18.5K% |
| Non-operating income, net | — | — | — | — | — | — |
| Pretax income | -27M | -55.1M | -147.2M | -129.5M | -163.9M | -151.2M |
| Income tax | -232K | 38K | 896K | 6M | -598K | 414K |
| Net income | -26.7M | -55.1M | -148.1M | -135.4M | -163.3M | -151.6M |
| Net margin | — | — | — | — | -214.9K% | -17K% |
| EBITDA | -26M | -53.1M | -144M | -125.6M | -158.5M | -144.6M |
| EPS | -0.14 | -0.3 | -0.23 | -0.57 | -0.62 | -0.52 |
| Diluted EPS | -0.14 | -0.3 | -0.23 | -0.57 | -0.62 | -0.52 |
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 | 76K | 230K | 221K | 217K | 225K | 226K | 150K |
| Cost of revenue | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — | — | — | — | — | — |
| Research & development | 32.2M | 22.5M | 27.2M | 29.4M | 31.3M | 39.8M | 27.3M | 25.9M | 26.8M | 34.2M | 33.8M | 36.1M |
| Selling, general & administrative | 14.4M | 1.7M | 12.8M | 13.7M | 17.7M | 11.9M | 14.4M | 14M | 11.9M | 11.4M | 11.3M | 12.4M |
| Operating expenses | 46.6M | 24.2M | 40.1M | 43.1M | 49M | 51.6M | 41.6M | 39.9M | 38.8M | 45.6M | 45.2M | 48.5M |
| Operating income | -46.6M | -24.2M | -40.1M | -43.1M | -49M | -51.6M | -41.4M | -39.7M | -38.5M | -45.4M | -44.9M | -48.4M |
| Operating margin | — | — | — | — | — | -67.9K% | -18K% | -18K% | -17.8K% | -20.2K% | -19.9K% | -32.2K% |
| Non-operating income, net | — | — | — | — | — | — | — | — | — | — | — | — |
| Pretax income | -41.1M | -18.9M | -35.2M | -38.5M | -43.4M | -46.8M | -37.4M | -36.1M | -35.3M | -42.4M | -42.6M | -46.4M |
| Income tax | 913K | 2.8M | 98K | -56K | -2.3M | 1.7M | 591K | 848K | 560K | -1.6M | 0 | 0 |
| Net income | -42M | -21.7M | -35.3M | -38.5M | -41.1M | -48.5M | -38M | -37M | -35.8M | -40.9M | -42.6M | -46.4M |
| Net margin | — | — | — | — | — | -63.8K% | -16.5K% | -16.7K% | -16.5K% | -18.2K% | -18.9K% | -31K% |
| EBITDA | -40.1M | -17.8M | -34.1M | -37.2M | -41.9M | -45.2M | -35.8M | -34.7M | -33.6M | -40.6M | -40.9M | -44.8M |
| EPS | -0.18 | — | -0.16 | -0.16 | -0.14 | — | -0.13 | -0.13 | -0.12 | — | -0.14 | -0.15 |
| Diluted EPS | -0.18 | — | -0.16 | -0.16 | -0.14 | — | -0.13 | -0.13 | -0.12 | — | -0.14 | -0.15 |
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 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| Market cap | — | 1.8B | — | 109.9M | — | — | 642.7M |
| Enterprise value | — | 1.8B | — | -248.7M | — | — | 1.3B |
| Shares outstanding | 186.5M | 186.5M | 61.5M | 61.7M | 97.9M | 133.9M | 133.9M |
| Metric | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| P/E | — | — | — | — | — | — | -3.08 |
| P/S | — | — | — | — | — | — | 780.8 |
| P/B | — | 68.6 | — | 0.28 | — | — | 1.34 |
| EV/EBITDA | — | -34.4 | — | 1.98 | — | — | -7.41 |
| EV/Sales | — | — | — | — | — | — | 1.5K |
| Earnings yield | — | — | — | — | — | — | -32.5% |
| FCF yield | — | -3.01% | — | -113.1% | — | — | -13% |
| PEG | — | — | — | — | — | — | -0.2 |
| Metric | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| Operating margin | — | — | — | — | -241.7K% | -18.5K% | -32.2K% |
| Net margin | — | — | — | — | -214.9K% | -17K% | 0% |
| ROE | -271.2% | -204.9% | -29.3% | -34.6% | -40.7% | -50.4% | -59% |
| ROA | -160.2% | -136.8% | -28.6% | -32.2% | -37% | -45.2% | -35.7% |
| ROIC | -394.8% | -716.4% | -895.5% | -462% | -394.3% | -474% | -395.6% |
| Return on tangible assets | -166.6% | -138.3% | -28.6% | -32.2% | -37% | -45.2% | -66.6% |
| Metric | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| Current ratio | 1.02 | 2.21 | 46.4 | 14.9 | 10.9 | 9.13 | 8.36 |
| Quick ratio | 1.02 | 2.21 | 46.4 | 14.9 | 10.9 | 9.13 | 8.36 |
| Debt / equity | 0.16 | 0.05 | 0 | 0.01 | 0.01 | 0.01 | 0.02 |
| Debt / assets | 0.09 | 0.03 | 0 | 0.01 | 0.01 | 0.01 | 0.01 |
| Net debt / EBITDA | 0.12 | 0.36 | 3.39 | 2.85 | 2.24 | 1.84 | 1.11 |
| Interest coverage | — | — | -683.8 | -10.8K | -18.2K | -37.8K | -8.8K |
| Effective tax rate | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Metric | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| Revenue per share | 0 | 0 | 0 | 0 | 0 | 0.01 | 0.01 |
| EPS (basic) | -0.14 | -0.3 | -0.23 | -0.57 | -0.62 | -0.52 | -0.52 |
| EPS (diluted) | -0.14 | -0.3 | -0.23 | -0.57 | -0.62 | -0.52 | -0.55 |
| Book value per share | 0.05 | 0.14 | 8.21 | 6.34 | 4.1 | 2.25 | -4.29 |
| FCF per share | -0.16 | -0.3 | -1.28 | -2.01 | -1.59 | -1.01 | -0.86 |
| Cash per share | 0.02 | 0.11 | 7.97 | 5.88 | 3.66 | 2.02 | 0.87 |
| Capex per share | 0.03 | 0.03 | 0.03 | 0.55 | 0.3 | — | — |
| Metric | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| Capex / revenue | — | — | — | — | 38.8K% | — | — |
| Capex / operating cash flow | -21.7% | -10.3% | -2.63% | -37.8% | -25% | — | — |
| Payout ratio | — | — | — | — | — | — | 0% |
| Dividend yield | — | — | — | — | — | — | 267.5% |
Split-adjusted payout per share by ex-dividend date.
| Ex-dividend | Amount |
|---|---|
| Feb 14, 2025 | $1.07 |
| Nov 15, 2024 | $0.50 |
| Aug 16, 2024 | $1.06 |
| — |
| $0 |
| — |
| FY20 | — | -$0.14 | — | — | $0 | — |
| Q1 25 |
|---|
| Q2 25 |
|---|
| Q3 25 |
|---|
| Q4 25 |
|---|
| Q1 26 |
|---|
| Q2 26 |
|---|
| Revenue | $0 | $0 | $0 | $0 | $0 | $76K | $230K | $221K | $217K | $225K | $226K | $150K |
| YoY change | 0% | 0% | 0% | 0% | 0% | +InfinityT% | +InfinityT% | +InfinityT% | +InfinityT% | +196.1% | -1.74% | -32.1% |
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 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|
| Cash & short-term investments | 4.6M | 20.6M | 490.3M | 362.9M | 358.3M | 270M |
| Receivables | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — |
| Total current assets | 5.6M | 27.3M | 504.7M | 374.1M | 395.9M | 280.7M |
| Property, plant & equipment | 10.5M | 12.6M | 13.1M | 23.9M | 24.1M | 33.8M |
| Goodwill & intangibles | 642K | 428K | 213K | 0 | — | — |
| Total assets | 16.7M | 40.3M | 518M | 420.6M | 441.1M | 335.6M |
| Accounts payable | 781K | 2.8M | 3M | 5.1M | 3.6M | 940K |
| Short-term debt | 225K | 267K | 493K | 803K | 765K | 1.1M |
| Total current liabilities | 5.5M | 12.3M | 10.9M | 25M | 36.2M | 30.7M |
| Long-term debt | 1.3M | 1.1M | 1.9M | 3.6M | 2.5M | 3M |
| Total liabilities | 6.8M | 13.4M | 13.1M | 29.2M | 39.4M | 34.8M |
| Shareholders' equity | 9.9M | 26.9M | 504.9M | 391.3M | 401.6M | 300.8M |
| Total debt | 1.6M | 1.3M | 2.4M | 4.4M | 3.2M | 4M |
| Net debt | -3M | -19.2M | -487.9M | -56.2M | -95.9M | -104.5M |
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 | 396.3M | 362.9M | 329M | 431.5M | 406.8M | 358.3M | 328.5M | 294.7M | 271.7M | 270M | 224.9M | 181.6M |
| Receivables | — | — | — | — | — | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current assets | 406.4M | 374.1M | 340.2M | 450.3M | 430.2M | 395.9M | 359.7M | 324.4M | 300M | 280.7M | 234.9M | 189.8M |
| Property, plant & equipment | 22.8M | 23.9M | 25.1M | 26.4M | 27.4M | 24.1M | 25.3M | 26.6M | 30.5M | 33.8M | 36.8M | 38.2M |
| Goodwill & intangibles | 52K | 0 | — | — | — | — | — | — | — | — | — | — |
| Total assets | 451.8M | 420.6M | 387.8M | 499.2M | 474.8M | 441.1M | 406.1M | 372.1M | 351.6M | 335.6M | 292.8M | 249M |
| Accounts payable | 4.5M | 5.1M | 3.4M | 2.9M | 2.9M | 3.6M | 3.1M | 2.4M | 1.9M | 940K | 2.6M | 1.6M |
| Short-term debt | 676K | 803K | 1.1M | 1M | 1.1M | 765K | 857K | 903K | 991K | 1.1M | 1.1M | 1.1M |
| Total current liabilities | 21M | 25M | 19.3M | 20.6M | 25.2M | 36.2M | 32.8M | 28.3M | 29.1M | 30.7M | 25.9M | 22.7M |
| Long-term debt | 2.1M | 3.6M | 4.9M | 5.6M | 5.4M | 2.5M | 2.5M | 3.5M | 3.2M | 3M | 2.7M | 2.4M |
| Total liabilities | 23.6M | 29.2M | 24.7M | 26.8M | 31.3M | 39.4M | 36.1M | 32.7M | 33.3M | 34.8M | 29.7M | 26.2M |
| Shareholders' equity | 428.2M | 391.3M | 363M | 472.4M | 443.5M | 401.6M | 370M | 339.5M | 318.3M | 300.8M | 263.1M | 222.8M |
| Total debt | 2.8M | 4.4M | 6M | 6.7M | 6.4M | 3.2M | 3.4M | 4.4M | 4.2M | 4M | 3.8M | 3.5M |
| Net debt | -188.6M | -56.2M | -78.4M | -207.8M | -101.6M | -95.9M | -94.4M | -80.5M | -91.1M | -104.5M | -98.1M | -71.3M |
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 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|
| Net income | -26.7M | -55.1M | -148.1M | -135.4M | -163.3M | -151.6M |
| Depreciation & amortization | 964K | 2M | 3M | 3.9M | 5.4M | 6.6M |
| Stock-based compensation | 730K | 699K | 74.5M | 30.8M | 29.4M | 25.3M |
| Change in working capital | -126K | 2.2M | 494K | 10.3M | 10.5M | -4.6M |
| Operating cash flow | -25.2M | -50.3M | -70.1M | -90.5M | -118.2M | -120.1M |
| Capital expenditure | -5.5M | -5.2M | -1.8M | -34.2M | -29.5M | — |
| Investing cash flow | -5.5M | -5.2M | -1.7M | -330M | 20.4M | 119.2M |
| Dividends paid | — | — | — | — | — | — |
| Share repurchases | — | 0 | 0 | -9.5M | 0 | 0 |
| Financing cash flow | 20M | 71.5M | 513.5M | -9.6M | 144.3M | 24.2M |
| Net change in cash | -10.6M | 16M | 441.6M | -430M | 46.5M | 23.3M |
| Free cash flow | -30.6M | -55.5M | -78.9M | -124.3M | -155.9M | -135.3M |
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 | 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 | -42M | -21.7M | -35.3M | -38.5M | -41.1M | -48.5M | — | — | -35.8M | -40.9M | -42.6M | -46.4M |
| Depreciation & amortization | 1M | 1.1M | 1.1M | 1.3M | 1.5M | 1.6M | — | — | 1.7M | 1.8M | 1.7M | 1.7M |
| Stock-based compensation | 13M | -6.4M | 7.7M | 7.8M | 6.9M | 6.9M | — | — | 6.7M | 5.7M | 4.9M | 5.6M |
| Change in working capital | 2.7M | 3.2M | -6.5M | -740K | 3.4M | 14.4M | — | — | 589K | 2.3M | -5.9M | -2.6M |
| Operating cash flow | -25.3M | -23.7M | -33M | -30.1M | -29.3M | -25.6M | -29.6M | -31.4M | -26.6M | -32.5M | -41.7M | -40.4M |
| Capital expenditure | -27.9M | -1.6M | -960K | -636K | -2.4M | -25.5M | — | — | — | — | — | — |
| Investing cash flow | -28.4M | -95.8M | 58.4M | 28.6M | -81.6M | 15.1M | — | — | 34.2M | 15.6M | 38.6M | 16.6M |
| Dividends paid | — | — | — | — | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — | — | — | — | — |
| Financing cash flow | -13K | -13K | -13K | -13K | 4.5M | -17K | — | — | 7.1M | 17.1M | 4K | -5K |
| Net change in cash | -53.7M | -119.6M | 25.4M | -1.6M | -106.4M | -10.5M | -29.6M | -31.4M | 14.7M | 257K | -3.1M | -23.7M |
| Free cash flow | -51.7M | -27M | -35.6M | -38.9M | -31.6M | -49.7M | — | — | -31.8M | -38.3M | -45.5M | -44.2M |
| May 16, 2024 |
| $1.06 |
| Feb 15, 2024 | $1.06 |
| Nov 16, 2023 | $1.05 |
| May 18, 2023 | $1.05 |
| Feb 16, 2023 | $1.05 |