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 | -$0.05 | -$0.04 | +20.0% | — | $1.7M | — |
| Q1 26 | -$0.04 | -$0.04 | 0.0% | — | $1.7M | — |
| Q4 25 | -$0.07 | -$0.07 | 0.0% | — | $1.5M | — |
| Q3 25 | -$0.19 | -$0.18 | +5.3% | — | — | — |
| Q2 25 | -$0.24 | -$0.22 | +8.3% | — | — | — |
| Q1 25 | -$0.23 | -$0.16 | +30.4% | — | $172K | — |
| Q3 24 | -$0.29 | -$0.24 | +17.2% | — | $0 | — |
| Q2 24 | -$0.29 | -$0.26 | +10.3% | — | $0 | — |
| Q1 24 | -$0.23 | -$0.29 | -26.1% | — | $0 | — |
| Q4 23 | -$0.33 | -$0.27 | +18.2% | — | $0 | — |
| Q3 23 | -$0.37 | -$0.36 | +2.7% | — | $0 | — |
| Q2 23 | -$0.4 | -$0.37 | +7.5% | — | $0 | — |
| Q1 23 | -$0.41 | -$0.33 | +19.5% | — | $0 | — |
| Q4 22 | -$0.35 | -$0.35 | 0.0% | — | $0 | — |
| Q3 22 | -$0.47 | -$0.33 | +29.8% | — | $0 | — |
| Q2 22 | -$0.58 | -$0.31 | +46.6% | — | $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 | — | -$0.45 | — | — | $1.6M | — |
| FY24 | — | -$1.05 | — | — | $1M | — |
| FY23 | — | -$1.33 | — | — | $0 | — |
| FY22 | — | -$1.28 | — | — | $0 | — |
| FY21 | — | -$0.43 |
Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.
| Period | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|
| Revenue | $979K | $462K | $2.7M | $0 | $0 | $1M | $1.6M |
| YoY change | — | -52.8% | +488.1% | -100% | 0% | +InfinityT% | +58.9% |
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 |
|---|
Revenue, gross profit, operating income, and net income per period.
Click a row to chart it; unreported figures show a dash.
| Period | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|
| Revenue | 979K | 462K | 2.7M | 0 | 0 | 1M | 1.6M |
| Cost of revenue | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — |
| Research & development | 24.6M | 12M | 26.5M | 36.6M | 39.6M | 26.7M | 20.2M |
| Selling, general & administrative | 3.5M | 5M | 27.8M | 26.8M | 26.5M | 23.9M | 19.7M |
| Operating expenses | 28M | 17M | 54.3M | 63.5M | 66.1M | 50.6M | 39.9M |
| Operating income | -27.1M | -16.5M | -51.6M | -63.5M | -66.1M | -49.6M | -38.3M |
| Operating margin | -2.8K% | -3.6K% | -1.9K% | — | — | -4.8K% | -2.3K% |
| Non-operating income, net | 65K | -63K | -1.1M | — | — | -3.7M | -576K |
| Pretax income | -26.6M | -16.7M | -53M | -63.3M | -67.9M | -56.6M | -41M |
| Income tax | 0 | 35K | 41K | 70K | 0 | — | — |
| Net income | -26.6M | -16.7M | -53.1M | -63.3M | -67.9M | -56.6M | -41M |
| Net margin | -2.7K% | -3.6K% | -2K% | — | — | -5.5K% | -2.5K% |
| EBITDA | -26.1M | -15.9M | -51M | -61.7M | -62M | -46.8M | -36.6M |
| EPS | -1.42 | 0 | -0.43 | -1.28 | -1.33 | -1.05 | -0.45 |
| Diluted EPS | -1.42 | 0 | -0.43 | -1.28 | -1.33 | -1.05 | -0.45 |
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 | 1M | 172K | 0 | 0 | 1.5M | 1.7M | 1.7M |
| Cost of revenue | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — | — | — | — | — | — |
| Research & development | 11.2M | 7.6M | 7.6M | 6.1M | 6.2M | 6.8M | 6.6M | 5.5M | 3.2M | 4.9M | 5.2M | 5M |
| Selling, general & administrative | 6.6M | 5.8M | 6.4M | 6.4M | 5.6M | 5.5M | 5.6M | 5M | 4M | 5.1M | 4.9M | 5.5M |
| Operating expenses | 17.9M | 13.4M | 14M | 12.5M | 11.8M | 12.3M | 12.2M | 10.5M | 7.3M | 10M | 10M | 10.5M |
| Operating income | -17.9M | -13.4M | -14M | -12.5M | -11.8M | -11.2M | -12M | -10.5M | -7.3M | -8.5M | -8.3M | -8.8M |
| Operating margin | — | — | — | — | — | -1.1K% | -7K% | — | — | -584.2% | -488.2% | -516.9% |
| Non-operating income, net | — | — | — | — | — | — | — | — | — | — | — | — |
| Pretax income | -18.3M | -14.1M | -14.8M | -13.4M | -12.7M | -15.7M | -12.7M | -11.2M | -7.9M | -9.1M | -8M | -8.4M |
| Income tax | 0 | 0 | — | — | — | — | — | — | — | — | — | — |
| Net income | -18.3M | -14.1M | -14.8M | -13.4M | -12.7M | -15.7M | -12.7M | -11.2M | -7.9M | -9.1M | -8M | -8.4M |
| Net margin | — | — | — | — | — | -1.5K% | -7.4K% | — | — | -621.1% | -469.3% | -493% |
| EBITDA | -16.8M | -12.5M | -13.2M | -11.8M | -11.1M | -14.3M | -11.5M | -10.1M | -7M | -8.5M | -7.8M | -8.3M |
| EPS | -0.36 | — | -0.29 | -0.26 | -0.24 | -0.27 | -0.22 | -0.18 | -0.12 | -0.07 | -0.04 | -0.04 |
| Diluted EPS | -0.36 | — | -0.29 | -0.26 | -0.24 | -0.27 | -0.22 | -0.18 | -0.12 | -0.07 | -0.04 | -0.04 |
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 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| Market cap | — | — | 319.4M | — | 84.7M | — | — | 109M |
| Enterprise value | — | — | 201.9M | — | 66.2M | — | — | 46.5M |
| Shares outstanding | 18.7M | 18.7M | 19.5M | 23.8M | 25.5M | 28.5M | 66.1M | 66.1M |
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| P/E | — | — | — | — | — | — | — | -1.75 |
| P/S | — | — | 117.5 | — | — | — | — | 21.9 |
| P/B | — | — | 2.63 | — | 3.33 | — | — | 2.18 |
| EV/EBITDA | — | — | -3.96 | — | -1.07 | — | — | -1.44 |
| EV/Sales | — | — | 74.3 | — | — | — | — | 9.54 |
| Earnings yield | — | — | — | — | — | — | — | -57.2% |
| FCF yield | — | — | -10.3% | — | -62% | — | — | -8.14% |
| PEG | — | — | — | — | — | — | — | 0.02 |
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| Operating margin | -2.8K% | -3.6K% | -1.9K% | — | — | -4.8K% | -2.3K% | -516.9% |
| Net margin | -2.7K% | -3.6K% | -2K% | — | — | -5.5K% | -2.5K% | 0% |
| ROE | 27.5% | 14.7% | -43.7% | -85.6% | -266.8% | -1.6K% | -98.6% | -172.1% |
| ROA | -115.5% | -21% | -42.7% | -58.6% | -117.2% | -154.5% | -69.9% | -53% |
| ROIC | 23.9% | 9.06% | -1.3K% | -1.1K% | -943.9% | — | — | — |
| Return on tangible assets | -115.5% | -21% | -42.7% | -58.6% | -117.2% | -154.5% | -69.9% | -54.9% |
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| Current ratio | 4.84 | 14.1 | 45.3 | 21 | 6.36 | 1.5 | 4.21 | 5.31 |
| Quick ratio | 4.84 | 14.1 | 45.3 | 21 | 6.36 | 1.5 | 4.21 | 5.31 |
| Debt / equity | — | -0.03 | 0 | 0.41 | 1.18 | 8.51 | 0.1 | 0.07 |
| Debt / assets | — | 0.05 | 0 | 0.28 | 0.52 | 0.81 | 0.07 | 0.06 |
| Net debt / EBITDA | — | 4.36 | 2.3 | 1.11 | 0.3 | -0.04 | 1.24 | 1.58 |
| Interest coverage | -2.7K | -133.4 | -112.8 | -58.1 | -12.3 | -10.2 | -13.2 | -27.6 |
| Effective tax rate | 0% | 0% | 0% | 0% | 0% | — | — | — |
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| Revenue per share | 0.05 | 0.02 | 0.14 | 0 | 0 | 0.04 | 0.02 | 0.04 |
| EPS (basic) | -1.42 | 0 | -0.43 | -1.28 | -1.33 | -1.05 | -0.45 | -0.45 |
| EPS (diluted) | -1.42 | 0 | -0.43 | -1.28 | -1.33 | -1.05 | -0.45 | -0.13 |
| Book value per share | -5.16 | -6.05 | 6.22 | 3.11 | 1 | 0.12 | 0.63 | 0.35 |
| FCF per share | -1.49 | -0.86 | -1.68 | -2.02 | -2.06 | -1.26 | -0.28 | -0.11 |
| Cash per share | 0.88 | 3.9 | 6.01 | 4.13 | 1.9 | 0.97 | 0.75 | 0.46 |
| Capex per share | 0.08 | 0.06 | 0.03 | 0.07 | 0.05 | 0.01 | — | — |
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| Capex / revenue | 156.5% | 259.7% | 18.6% | — | — | 26.1% | — | — |
| Capex / operating cash flow | -5.78% | -9.53% | -1.58% | -3.46% | -2.53% | -0.69% | — | — |
| Payout ratio | — | — | — | — | — | — | — | 0% |
| — |
| — |
| $2.7M |
| — |
| FY20 | — | $0 | — | — | $462K | — |
| FY19 | — | -$1.42 | — | — | $979K | — |
| 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 | $1M | $172K | $0 | $0 | $1.5M | $1.7M | $1.7M |
| YoY change | 0% | 0% | 0% | 0% | 0% | +InfinityT% | +InfinityT% | 0% | 0% | +42.1% | +893% | +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 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|
| Cash & short-term investments | 16.5M | 73.1M | 117.5M | 98.5M | 48.5M | 27.6M | 49.7M |
| Receivables | — | — | — | — | — | — | 2M |
| Inventory | — | — | — | — | — | — | — |
| Total current assets | 16.9M | 74.9M | 119.6M | 100.9M | 50.8M | 29.7M | 53.3M |
| Property, plant & equipment | 4.5M | 4.5M | 4.6M | 7.1M | 6.8M | 6.6M | 5.1M |
| Goodwill & intangibles | — | — | — | — | — | — | — |
| Total assets | 23M | 79.4M | 124.2M | 108M | 57.9M | 36.6M | 58.6M |
| Accounts payable | 198K | 537K | 1.1M | 1.5M | 648K | 1.4M | 309K |
| Short-term debt | — | 1.4M | — | 1M | 5.6M | 16.5M | 1.6M |
| Total current liabilities | 3.5M | 5.3M | 2.6M | 4.8M | 8M | 19.9M | 12.7M |
| Long-term debt | — | 2.4M | 0 | 29.2M | 24.5M | 13.3M | 2.7M |
| Total liabilities | 119.7M | 192.8M | 2.6M | 34M | 32.5M | 33.1M | 17.1M |
| Shareholders' equity | -96.6M | -113.3M | 121.6M | 74M | 25.4M | 3.5M | 41.5M |
| Total debt | — | 3.8M | 0 | 30.2M | 30.1M | 29.7M | 4.3M |
| Net debt | — | -69.3M | -117.5M | 3.2M | 24.2M | 25.9M | -14.3M |
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 | 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 | 60.5M | 48.5M | 39.6M | 30.9M | 30.4M | 27.6M | 15.9M | 10.2M | 4.1M | 49.7M | 43.4M | 53.4M |
| Receivables | — | — | — | — | — | — | 600K | — | — | 2M | 2M | 2M |
| Inventory | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current assets | 63.2M | 50.8M | 41.4M | 32M | 32.4M | 29.7M | 17.8M | 11.1M | 5M | 53.3M | 47.1M | 56.5M |
| Property, plant & equipment | 7.2M | 6.8M | 11.9M | 11.4M | 10.9M | 6.6M | 6.1M | 5.5M | 4.9M | 5.1M | 4.5M | 4.1M |
| Goodwill & intangibles | — | — | — | — | — | — | — | — | — | — | — | — |
| Total assets | 70.4M | 57.9M | 53.5M | 43.7M | 43.5M | 36.6M | 24.1M | 16.9M | 10.1M | 58.6M | 51.9M | 60.8M |
| Accounts payable | 1.4M | 648K | 806K | 506K | 1.6M | 1.4M | 1.5M | 1.8M | 2.5M | 309K | 858K | 1M |
| Short-term debt | 2M | 5.6M | 9.8M | 13.7M | 16.2M | 16.5M | 16.3M | 16.2M | 14.6M | 1.6M | 1.5M | 1.3M |
| Total current liabilities | 7.3M | 8M | 13.4M | 16.6M | 20.2M | 19.9M | 20.1M | 20.6M | 19.1M | 12.7M | 13.9M | 10.6M |
| Long-term debt | 28.3M | 24.5M | 25.6M | 21.6M | 17.6M | 13.3M | 9.3M | 5.4M | 3M | 2.7M | 2.5M | 2.2M |
| Total liabilities | 35.6M | 32.5M | 39M | 38.2M | 37.8M | 33.1M | 29.5M | 26.1M | 22.1M | 17.1M | 16.3M | 12.9M |
| Shareholders' equity | 34.8M | 25.4M | 14.5M | 5.5M | 5.8M | 3.5M | -5.3M | -9.2M | -12M | 41.5M | 35.5M | 48M |
| Total debt | 30.3M | 30.1M | 35.4M | 35.2M | 33.7M | 29.7M | 25.7M | 21.6M | 17.6M | 4.3M | 3.9M | 3.5M |
| Net debt | 25.3M | 24.2M | 28.5M | 30.7M | 29.5M | 25.9M | 15.6M | 11.4M | 13.4M | -14.3M | -5.7M | -1.3M |
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 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|
| Net income | -26.6M | -16.7M | -53.1M | -63.3M | -67.9M | -56.6M | -41M |
| Depreciation & amortization | 564K | 589K | 497K | 548K | 822K | 1M | 900K |
| Stock-based compensation | — | 0 | 22.6M | 15.8M | 19M | 16M | 11.8M |
| Change in working capital | -450K | 3.5M | -2.2M | -601K | -1.9M | -1.5M | 4M |
| Operating cash flow | -26.5M | -12.6M | -32.1M | -46.8M | -48.7M | -39M | -18.7M |
| Capital expenditure | -1.5M | -1.2M | -506K | -1.6M | -1.2M | -268K | — |
| Investing cash flow | -1.5M | -1.2M | -506K | -72.4M | 29.9M | 19.8M | -6.9M |
| Dividends paid | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — |
| Financing cash flow | 852K | 72.8M | 77.1M | 28.7M | -162K | 13.2M | 31.8M |
| Net change in cash | -27.2M | 59M | 44.6M | -90.5M | -19M | -6M | 6.2M |
| Free cash flow | -27.8M | -16.2M | -32.8M | -48.1M | -52.5M | -35.8M | -18.8M |
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 | -18.3M | -14.1M | -14.8M | -13.4M | -12.7M | -15.7M | -12.7M | -11.2M | -7.9M | -9.1M | -8M | -8.4M |
| Depreciation & amortization | 218K | 227K | 248K | 255K | 259K | 266K | 251K | 240K | 223K | 186K | 161K | 152K |
| Stock-based compensation | 5M | 4.5M | 3.9M | 4.1M | 4M | 4M | 3.9M | 3.3M | 2.3M | 2.2M | 2.1M | 2.4M |
| Change in working capital | 141K | -925K | -220K | -399K | 205K | -683K | -489K | 402K | 197K | -4.7M | -1.6M | -2.4M |
| Operating cash flow | -12.7M | -9.9M | -10.4M | -9.2M | -7.3M | -11.6M | -8.5M | -5.8M | -5.1M | 294K | -6.5M | -9M |
| Capital expenditure | -479K | -167K | -18K | -94K | -125K | -31K | -51K | — | — | — | — | — |
| Investing cash flow | 11.7M | 13.3M | 10.3M | 6.5M | 469K | 2.5M | 18.2M | 5.8M | 0 | -31M | -2.4M | -14.5M |
| Dividends paid | — | — | — | — | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — | — | — | — | — |
| Financing cash flow | -29K | 0 | — | — | -1.3M | 5.6M | -3.8M | -3.8M | -946K | 40.3M | -32K | -9K |
| Net change in cash | -1M | 3.3M | -151K | -2.7M | -8.1M | -3.5M | 5.9M | -3.8M | -6M | 9.6M | -9M | -23.6M |
| Free cash flow | -14.8M | -12.6M | -9.4M | -9.1M | -8.5M | -8.7M | -8.2M | -5.8M | -5.1M | 294K | -6.5M | -9.1M |