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 | -$1.15 | -$1.52 | -32.2% | — | $0 | — |
| Q1 26 | -$0.93 | -$1.2 | -29.0% | — | $0 | — |
| Q3 25 | -$0.77 | -$0.86 | -11.7% | — | — | — |
| Q2 25 | -$1.32 | -$0.74 | +43.9% | — | — | — |
| Q1 25 | -$0.6 | -$5.37 | -795.0% | — | — | — |
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 | — | -$3.71 | — | — | $0 | — |
| FY24 | — | -$7.83 | — | — | $0 | — |
| FY23 | — | $1.6 | — | — | $0 | — |
| FY22 | — | -$2.46 | — | — | $0 | — |
Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.
| Period | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 |
| YoY change | — | 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 | Q1 23 | Q1 24 | Q2 24 | Q3 24 | Q4 24 | Q1 25 | Q2 25 | Q3 25 | Q4 25 | Q1 26 | Q2 26 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0 |
Revenue, gross profit, operating income, and net income per period.
Click a row to chart it; unreported figures show a dash.
| Period | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | 0 |
| Cost of revenue | — | — | — | — |
| Gross profit | — | — | — | — |
| Gross margin | — | — | — | — |
| Research & development | 13.9M | 8.8M | 8.2M | 22.8M |
| Selling, general & administrative | 4.2M | 3.1M | 5.9M | 15.8M |
| Operating expenses | 18M | 11.9M | 14.1M | 38.6M |
| Operating income | -18M | -11.9M | -14.1M | -38.6M |
| Operating margin | — | — | — | — |
| Non-operating income, net | -174K | 24.3M | 978K | 115K |
| Pretax income | -28.6M | 18.7M | -17.4M | -41.7M |
| Income tax | -1M | 0 | 0 | 0 |
| Net income | -27.6M | 18.7M | -17.4M | -41.7M |
| Net margin | — | — | — | — |
| EBITDA | -17.7M | -4.9M | -10.5M | -35.3M |
| EPS | -2.46 | 1.6 | -7.83 | -3.71 |
| Diluted EPS | -2.46 | 1.6 | -7.83 | -3.71 |
Revenue, gross profit, operating income, and net income per period.
Click a row to chart it; unreported figures show a dash.
| Period | Q1 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 |
| Cost of revenue | — | — | — | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — | — | — | — | — |
| Research & development | 3.6M | — | — | — | — | — | — | 6.5M | 7.1M | 9.3M | 12.5M |
| Selling, general & administrative | 924K | — | — | — | — | — | — | 3.6M | 4.2M | 5.5M | 8.9M |
| Operating expenses | 4.5M | — | — | — | — | — | — | 10.2M | 11.3M | 14.9M | 21.4M |
| Operating income | -4.5M | — | — | — | — | — | — | -10.2M | -11.3M | -14.9M | -21.4M |
| Operating margin | — | — | — | — | — | — | — | — | — | — | — |
| Non-operating income, net | 407K | — | — | — | — | — | — | -286K | -191K | 54K | -122K |
| Pretax income | -6.7M | — | — | — | — | — | — | -11.3M | -12.7M | -15.8M | -21.9M |
| Income tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net income | -6.7M | — | — | — | — | — | — | -11.3M | -12.7M | -15.8M | -21.9M |
| Net margin | — | — | — | — | — | — | — | — | — | — | — |
| EBITDA | -4M | — | — | — | — | — | — | -9.5M | -10.9M | -13.8M | -19.4M |
| EPS | -0.62 | -0.24 | -0.39 | — | — | -0.74 | -0.86 | -1.03 | — | -1.2 | -1.52 |
| Diluted EPS | -0.62 | -0.24 | -0.39 | — | — | -0.74 | -0.86 | -1.03 | — | -1.2 | -1.52 |
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 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|
| Market cap | 933.6M | 163.4M | — | — | 2B |
| Enterprise value | 917.6M | 156M | — | — | 1.8B |
| Shares outstanding | 11.2M | 11.2M | 2.2M | 11.3M | 11.3M |
| Metric | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|
| P/E | — | 8.74 | — | — | 13.7 |
| P/B | -40.3 | -42.1 | — | — | 9.35 |
| EV/EBITDA | -51.7 | -31.9 | — | — | -50 |
| Earnings yield | — | 11.4% | — | — | 7.3% |
| FCF yield | -1.59% | -8.39% | — | — | -1.26% |
| PEG | — | — | — | — | 0.18 |
| Metric | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|
| Operating margin | — | — | — | — | 0% |
| Net margin | — | — | — | — | 0% |
| ROE | 118.9% | -481.7% | -27.8% | -149.1% | -46.6% |
| ROA | -166.7% | 247.6% | -19.8% | -70% | -22.1% |
| ROIC | 46% | 105.7% | 67.1% | 131.5% | 174% |
| Return on tangible assets | -166.7% | 247.6% | -19.8% | -70% | -24.3% |
| Metric | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|
| Current ratio | 2.86 | 3.2 | 7.33 | 5.2 | 21.2 |
| Quick ratio | 2.86 | 3.2 | 7.33 | 5.2 | 21.2 |
| Debt / equity | — | — | — | 0.02 | 0.1 |
| Debt / assets | — | — | — | 0.01 | 0 |
| Net debt / EBITDA | — | — | — | 1.63 | 4.66 |
| Interest coverage | — | — | -3.04 | -6.17 | -7.12 |
| Effective tax rate | 0% | 0% | 0% | 0% | 0% |
| Metric | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|
| Revenue per share | 0 | 0 | 0 | 0 | 0 |
| EPS (basic) | -2.46 | 1.6 | -7.83 | -3.71 | -3.71 |
| EPS (diluted) | -2.46 | 1.6 | -7.83 | -3.71 | -4.85 |
| Book value per share | -2.07 | -0.35 | 28.1 | 2.49 | 15.1 |
| FCF per share | -1.32 | -1.22 | -4.87 | -2.22 | -2.54 |
| Cash per share | 1.43 | 0.66 | 37.6 | 5.15 | 17.4 |
| Metric | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|
| Payout ratio | — | — | — | — | 0% |
| — |
| — |
| — |
| — |
| — |
| — |
| $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 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|
| Cash & short-term investments | 16.1M | 7.3M | 83.6M | 58M |
| Receivables | — | 0 | 358K | 0 |
| Inventory | — | — | — | — |
| Total current assets | 16.5M | 7.5M | 88.2M | 59M |
| Property, plant & equipment | — | — | — | 572K |
| Goodwill & intangibles | — | — | — | — |
| Total assets | 16.5M | 7.5M | 88.2M | 59.6M |
| Accounts payable | 3.2M | 936K | 4.6M | 4.6M |
| Short-term debt | — | — | — | 202K |
| Total current liabilities | 5.8M | 2.4M | 12M | 11.3M |
| Long-term debt | — | — | — | 431K |
| Total liabilities | 39.7M | 11.4M | 25.6M | 31.6M |
| Shareholders' equity | -23.2M | -3.9M | 62.6M | 28M |
| Total debt | — | — | — | 633K |
| Net debt | — | — | — | -57.3M |
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 | Q1 24 | Q4 24 | Q1 25 | Q2 25 | Q3 25 | Q4 25 | Q1 26 | Q2 26 |
|---|---|---|---|---|---|---|---|---|
| Cash & short-term investments | 6.2M | 83.6M | 75.6M | 70.4M | 63.6M | 58M | 261.9M | 250.6M |
| Receivables | — | 358K | 0 | 0 | 0 | 0 | — | — |
| Inventory | — | — | — | — | — | — | — | — |
| Total current assets | 6.4M | 88.2M | 79.4M | 73.7M | 66.9M | 59M | 263.2M | 253M |
| Property, plant & equipment | — | — | — | — | — | 572K | 528K | 482K |
| Goodwill & intangibles | — | — | — | — | — | — | — | — |
| Total assets | 6.4M | 88.2M | 79.4M | 73.7M | 66.9M | 59.6M | 263.8M | 253.5M |
| Accounts payable | 1M | 4.6M | 4.4M | 4.6M | 3.5M | 4.6M | 5.4M | 6.8M |
| Short-term debt | — | — | — | — | — | 202K | 209K | 217K |
| Total current liabilities | 2.7M | 12M | 9M | 9.6M | 10.3M | 11.3M | 9.1M | 11.9M |
| Long-term debt | — | — | — | — | — | 431K | 375K | 318K |
| Total liabilities | 12.7M | 25.6M | 23.9M | 26M | 28.3M | 31.6M | 31.4M | 36.6M |
| Shareholders' equity | -6.3M | 62.6M | 55.6M | 47.8M | 38.7M | 28M | 232.3M | 216.9M |
| Total debt | — | — | — | — | — | 633K | 584K | 535K |
| Net debt | — | — | — | — | — | -57.3M | -205.8M | -187.3M |
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 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|
| Net income | -27.6M | 18.7M | -17.4M | -41.7M |
| Depreciation & amortization | — | — | — | — |
| Stock-based compensation | 427K | 603K | 830K | 6.4M |
| Change in working capital | 2M | -2.2M | 260K | 3.8M |
| Operating cash flow | -14.8M | -12.3M | -13M | -25M |
| Capital expenditure | — | — | — | — |
| Investing cash flow | — | — | — | — |
| Dividends paid | — | — | — | — |
| Share repurchases | — | — | — | — |
| Financing cash flow | 9.5M | 5M | 87.1M | -1.4M |
| Net change in cash | -5.2M | -7.3M | 74.1M | -26.4M |
| Free cash flow | -14.8M | -13.7M | -10.8M | -25M |
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 | Q1 23 | Q1 24 | Q2 24 | Q4 24 | Q1 25 | Q2 25 | Q3 25 | Q4 25 | Q1 26 | Q2 26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net income | -6.7M | -2.5M | -4.2M | -4M | -8.2M | -9.5M | -11.3M | -12.7M | -15.8M | -21.9M |
| Depreciation & amortization | — | — | — | — | — | — | — | — | — | — |
| Stock-based compensation | 141K | 146K | 217K | 268K | 1.1M | 1.4M | 1.8M | 2.1M | 3.4M | 5.2M |
| Change in working capital | 503K | 85K | 425K | -1.9M | 1.5M | 116K | -1.1M | 3.3M | 851K | 1.4M |
| Operating cash flow | -3.5M | -1.5M | -2.5M | -6M | -4.4M | -5.4M | -7.9M | -4.9M | -10.9M | -12.8M |
| Capital expenditure | — | — | — | — | — | — | — | — | — | — |
| Investing cash flow | — | — | — | — | — | — | — | — | -55.4M | -15M |
| Dividends paid | — | — | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — | — | — |
| Financing cash flow | — | — | — | 74.8M | -1.3M | 0 | 0 | -154K | 213.8M | 0 |
| Net change in cash | -3.5M | -1.5M | -2.5M | 68.8M | -5.7M | -5.4M | -7.9M | -5.1M | 147.5M | -27.9M |
| Free cash flow | -4M | -1.1M | -1.6M | -5.4M | -6.8M | -5.4M | -7.9M | -4.9M | -10.9M | -12.8M |