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 | -$0.39 | -$0.41 | -5.1% | — | $350K | — |
| Q1 26 | -$0.36 | -$0.41 | -13.9% | — | $3M | — |
| Q4 25 | -$0.4 | -$0.31 | +22.5% | — | $7M | — |
| Q3 25 | -$0.42 | -$0.43 | -2.4% | — | $0 | — |
| Q2 25 | -$0.47 | -$0.41 | +12.8% | — | $677K | — |
| Q1 25 | -$0.48 | -$0.46 | +4.2% | — | $7.7M | — |
| Q4 24 | -$0.55 | -$0.45 | +18.2% | — | $0 | — |
| Q3 24 | -$0.78 | -$0.63 | +19.2% | — | $0 | — |
| Q2 24 | -$0.73 | -$0.69 | +5.5% | — | $0 | — |
| Q1 24 | -$0.69 | -$0.62 | +10.1% | — | $10M | — |
| Q4 23 | -$0.77 | -$0.67 | +13.0% | — | -$1K | — |
| Q3 23 | -$0.83 | -$0.54 | +34.9% | — | $25.2M | — |
| Q2 23 | -$0.82 | -$0.81 | +1.2% | — | $119K | — |
| Q1 23 | -$0.69 | -$0.78 | -13.0% | — | $226K | — |
| Q4 22 | -$0.7 | -$0.56 | +20.0% | — | $253K | — |
| Q3 22 | -$0.71 | -$0.76 | -7.0% | — | $344K | — |
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 | — | -$1.61 | — | — | $15.4M | — |
| FY24 | — | -$2.36 | — | — | $10M | — |
| FY23 | — | -$2.79 | — | — | $25.5M | — |
| FY22 | — | -$2.59 | — | — | $1.4M | — |
| 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 | $82.7M | $3M | $1.4M | $25.5M | $10M | $15.4M |
| YoY change | — | 0% | +InfinityT% | -96.3% | -54.4% | +1.7K% | -60.8% | +53.4% |
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 | 82.7M | 3M | 1.4M | 25.5M | 10M | 15.4M |
| Cost of revenue | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — | — |
| Research & development | 41M | 70.3M | 99.9M | 172.7M | 246.4M | 330M | 319.1M | 261.4M |
| Selling, general & administrative | 8.9M | 13.7M | 38.6M | 57.4M | 66M | 75M | 76.6M | 56.7M |
| Operating expenses | 49.9M | 84M | 138.4M | 230M | 312.3M | 405M | 395.7M | 318.1M |
| Operating income | -49.9M | -84M | -55.8M | -227M | -311M | -379.4M | -385.7M | -302.7M |
| Operating margin | — | — | -67.5% | -7.5K% | -22.5K% | -1.5K% | -3.9K% | -2K% |
| Non-operating income, net | -9K | -58K | -16K | -137.7M | 11.7M | 6.4M | 13.2M | -776K |
| Pretax income | -48.8M | -75.3M | -52.4M | -363.9M | -290.5M | -342M | -337.7M | -276.5M |
| Income tax | — | — | — | — | — | — | — | — |
| Net income | -48.8M | -75.3M | -52.4M | -363.9M | -290.5M | -342M | -337.7M | -276.5M |
| Net margin | — | — | -63.4% | -12K% | -21K% | -1.3K% | -3.4K% | -1.8K% |
| EBITDA | -47.7M | -81.2M | -52.2M | -85.4M | -318.5M | -380.6M | -393.4M | -299.2M |
| EPS | -0.75 | -17.6 | -5.4 | -3.82 | -2.59 | -2.79 | -2.36 | -1.61 |
| Diluted EPS | -0.75 | -17.6 | -5.4 | -3.82 | -2.59 | -2.79 | -2.36 | -1.61 |
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 | 25.2M | -1K | 10M | 0 | 0 | 0 | 7.7M | 677K | 0 | 7M | 3M | 350K |
| Cost of revenue | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — | — | — | — | — | — |
| Research & development | 81.5M | 77.5M | 82.4M | 92M | 76.6M | 68.1M | 73.8M | 63.9M | 68.3M | 55.4M | 70.6M | 76.5M |
| Selling, general & administrative | 18.5M | 16.8M | 19.8M | 20.1M | 19.8M | 16.9M | 18.7M | 13.6M | 12.1M | 12.2M | 11M | 14.7M |
| Operating expenses | 100M | 94.3M | 102.2M | 112.1M | 96.4M | 85M | 92.5M | 77.5M | 80.4M | 67.6M | 81.6M | 91.2M |
| Operating income | -74.8M | -94.3M | -92.2M | -112.1M | -96.4M | -85M | -84.9M | -76.8M | -80.4M | -60.6M | -78.6M | -90.8M |
| Operating margin | -296.7% | 9.4M% | -921.3% | — | — | — | -1.1K% | -11.4K% | — | -866.1% | -2.6K% | -25.9K% |
| Non-operating income, net | 1.2M | 2.1M | 1.9M | 11.4M | -10K | 1K | -9K | -633K | -165K | 30K | -53K | 2K |
| Pretax income | -65.7M | -83.5M | -81.4M | -92.2M | -88.1M | -76M | -77.1M | -70.4M | -74.1M | -54.9M | -73.3M | -83.7M |
| Income tax | — | — | — | — | — | — | — | — | — | — | — | — |
| Net income | -65.7M | -83.5M | -81.4M | -92.2M | -88.1M | -76M | -77.1M | -70.4M | -74.1M | -54.9M | -73.3M | -83.7M |
| Net margin | -260.8% | 8.3M% | -813.3% | — | — | — | -1K% | -10.4K% | — | -784.1% | -2.4K% | -23.9K% |
| EBITDA | -74.6M | -95M | -92.6M | -122.1M | -95M | -83.6M | -83.7M | -75.8M | -79.6M | -60M | -78.1M | -90.5M |
| EPS | -0.54 | — | -0.62 | -0.69 | -0.63 | -0.45 | -0.46 | -0.41 | -0.43 | -0.32 | -0.41 | -0.41 |
| Diluted EPS | -0.54 | — | -0.62 | -0.69 | -0.63 | -0.45 | -0.46 | -0.41 | -0.43 | -0.32 | -0.41 | -0.41 |
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 | — | — | — | — | — | 1.3B | — | — | 3.9B |
| Enterprise value | — | — | — | — | — | 652.9M | — | — | 2.9B |
| Shares outstanding | 65.4M | 4.3M | 42.6M | 95.1M | 112.2M | 122.6M | 142.9M | 171.6M | 171.6M |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| P/E | — | — | — | — | — | — | — | — | -11 |
| P/S | — | — | — | — | — | 52.8 | — | — | 369.9 |
| P/B | — | — | — | — | — | 1.79 | — | — | 4.29 |
| EV/EBITDA | — | — | — | — | — | -1.72 | — | — | -9.56 |
| EV/Sales | — | — | — | — | — | 25.6 | — | — | 284.8 |
| Earnings yield | — | — | — | — | — | — | — | — | -9.1% |
| FCF yield | — | — | — | — | — | -22.6% | — | — | -3.08% |
| PEG | — | — | — | — | — | — | — | — | -10.7 |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Operating margin | — | — | -67.5% | -7.5K% | -22.5K% | -1.5K% | -3.9K% | -2K% | -25.9K% |
| Net margin | — | — | -63.4% | -12K% | -21K% | -1.3K% | -3.4K% | -1.8K% | 0% |
| ROE | 44% | 41.7% | -6.87% | -40.5% | -30.6% | -45.5% | -43.4% | -48.8% | -36.8% |
| ROA | -11.4% | -19.2% | -6.55% | -36.1% | -26.4% | -40.5% | -38.8% | -44.5% | -22.9% |
| Return on tangible assets | -11.4% | -19.2% | -6.55% | -36.2% | -26.5% | -40.6% | -38.9% | -44.5% | -29.6% |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Current ratio | 61.8 | 30.1 | 56.5 | 40.1 | 16 | 25.4 | 16 | 22.6 | 18.3 |
| Quick ratio | 61.8 | 30.1 | 56.5 | 40.1 | 16 | 25.4 | 16 | 22.6 | 18.3 |
| Debt / equity | -0 | -0.14 | 0.03 | 0.03 | 0.06 | 0.07 | 0.06 | 0.06 | 0.03 |
| Debt / assets | 0 | 0.06 | 0.03 | 0.02 | 0.05 | 0.06 | 0.06 | 0.05 | 0.03 |
| Net debt / EBITDA | 8.83 | 4.08 | 12.5 | 11 | 2.96 | 1.83 | 1.86 | 1.74 | 2.86 |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Revenue per share | 0 | 0 | 1.94 | 0.03 | 0.01 | 0.21 | 0.07 | 0.09 | 0.06 |
| EPS (basic) | -0.75 | -17.6 | -5.4 | -3.82 | -2.59 | -2.79 | -2.36 | -1.61 | -1.61 |
| EPS (diluted) | -0.75 | -17.6 | -5.4 | -3.82 | -2.59 | -2.79 | -2.36 | -1.61 | -1.56 |
| Book value per share | -1.7 | -42.1 | 17.9 | 9.44 | 8.47 | 6.13 | 5.44 | 3.3 | 4.07 |
| FCF per share | -0.7 | -17.3 | -2.45 | -0.82 | -2.13 | -2.48 | -1.76 | -1.37 | -1.05 |
| Cash per share | 6.44 | 83.1 | 15.9 | 10.1 | 8.9 | 6.12 | 5.47 | 3.23 | 4.16 |
| Capex per share | 0.03 | 1.86 | 0.05 | 0.04 | 0.08 | 0.03 | 0.01 | — | — |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Capex / revenue | — | — | 2.34% | 114.6% | 656.2% | 16.2% | 20.2% | — | — |
| Capex / operating cash flow | -3.91% | -12.5% | -1.94% | -4.35% | -3.65% | -1.63% | -0.84% | — | — |
| Payout ratio | — | — | — | — | — | — | — | — | 0% |
| — |
| -$3.82 |
| — |
| — |
| $3M |
| — |
| FY20 | — | -$5.4 | — | — | $82.7M | — |
| FY19 | — | -$17.6 | — | — | $0 | — |
| FY18 | — | -$0.75 | — | — | $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 | $25.2M | -$1K | $10M | $0 | $0 | $0 | $7.7M | $677K | $0 | $7M | $3M | $350K |
| YoY change | +7.2K% | -100.4% | +4.3K% | -100% | -100% | +100% | -23.3% | +InfinityT% | 0% | +InfinityT% | -60.9% | -48.3% |
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 | 421.5M | 355.8M | 678.1M | 958.1M | 998.9M | 750.1M | 781.3M | 554.5M |
| Receivables | — | 0 | 75M | 403K | 306K | 0 | — | — |
| Inventory | — | — | — | — | — | — | — | — |
| Total current assets | 424.1M | 360.5M | 770.1M | 976.2M | 1B | 770.1M | 809.2M | 578.3M |
| Property, plant & equipment | 3.6M | 31.7M | 28.8M | 27.3M | 75.4M | 68.9M | 57.7M | 41.7M |
| Goodwill & intangibles | — | — | 0 | 2.3M | 2.3M | 2.3M | 2.3M | 0 |
| Total assets | 428.6M | 393.1M | 799.8M | 1B | 1.1B | 844M | 871.3M | 621.3M |
| Accounts payable | 4.7M | 7M | 6.4M | 8.3M | 10.6M | 9.2M | 14.1M | 7.7M |
| Short-term debt | 178K | 1.2M | 1.5M | 1.8M | 4.3M | 5M | 5.7M | 3.8M |
| Total current liabilities | 6.9M | 12M | 13.6M | 24.3M | 63.7M | 30.3M | 50.7M | 25.6M |
| Long-term debt | 0 | 23.6M | 22.9M | 21.1M | 53.5M | 48.5M | 42.8M | 28.7M |
| Total liabilities | 539.5M | 573.5M | 36.5M | 110.6M | 149.6M | 92M | 93.5M | 54.3M |
| Shareholders' equity | -110.9M | -180.4M | 763.3M | 897.8M | 950.2M | 752M | 777.8M | 567.1M |
| Total debt | 178K | 24.8M | 24.4M | 22.9M | 57.7M | 53.5M | 48.5M | 32.5M |
| Net debt | -421.3M | -17.1M | -423.2M | -257.2M | -94.1M | -90.3M | -75.8M | -51.6M |
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 | 810.6M | 750.1M | 749.6M | 688.4M | 839.6M | 781.3M | 710.4M | 656.8M | 596.4M | 554.5M | 642.1M | 910.9M |
| Receivables | 211K | 0 | — | — | — | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current assets | 831.8M | 770.1M | 770.1M | 704.3M | 865.1M | 809.2M | 739.7M | 680.4M | 624M | 578.3M | 658.5M | 928.1M |
| Property, plant & equipment | 70.2M | 68.9M | 66.3M | 63.3M | 60.6M | 57.7M | 55.3M | 46.2M | 43.7M | 41.7M | 39.8M | 38M |
| Goodwill & intangibles | 2.3M | 2.3M | 2.3M | 2.3M | 2.3M | 2.3M | 2.3M | 0 | 0 | 0 | — | — |
| Total assets | 907M | 844M | 841.4M | 772.5M | 930.1M | 871.3M | 799.4M | 728.8M | 670M | 621.3M | 699.6M | 967.5M |
| Accounts payable | 13.4M | 9.2M | 8M | 11.2M | 6.9M | 14.1M | 8.4M | 5.2M | 2.8M | 7.7M | 4.1M | 11.5M |
| Short-term debt | 4.8M | 5M | 5.1M | 5.3M | 5.5M | 5.7M | 5.9M | 3.5M | 3.6M | 3.8M | 3.9M | 4M |
| Total current liabilities | 50.7M | 30.3M | 37.1M | 45M | 47M | 50.7M | 37.1M | 32.5M | 32.6M | 25.6M | 29.8M | 50.8M |
| Long-term debt | 49.8M | 48.5M | 47.2M | 45.8M | 44.3M | 42.8M | 41.2M | 30.7M | 29.7M | 28.7M | 27.7M | 26.6M |
| Total liabilities | 128.6M | 92M | 95.7M | 90.8M | 91.3M | 93.5M | 78.3M | 63.2M | 62.3M | 54.3M | 57.4M | 77.4M |
| Shareholders' equity | 778.4M | 752M | 745.8M | 681.7M | 838.9M | 777.8M | 721.1M | 665.7M | 607.7M | 567.1M | 642.2M | 890M |
| Total debt | 54.6M | 53.5M | 52.3M | 51.1M | 49.8M | 48.5M | 47.2M | 34.2M | 33.3M | 32.5M | 31.6M | 30.7M |
| Net debt | -96.7M | -90.3M | -100.6M | -83M | -102.5M | -75.8M | -46.4M | -79.8M | -58.2M | -51.6M | -173M | -90.5M |
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 | -48.8M | -75.3M | -52.4M | -363.9M | -290.5M | -342M | -337.7M | -276.5M |
| Depreciation & amortization | 2.2M | 2.8M | 3.5M | 3.9M | 4.1M | 5.3M | 5.5M | 3.6M |
| Stock-based compensation | 2.9M | 4.5M | 32M | 48.5M | 56.1M | 86M | 94.1M | 62.4M |
| Change in working capital | 766K | 4.2M | -82.5M | 94M | -6.7M | 4.3M | 9.7M | -13.5M |
| Operating cash flow | -43M | -63.8M | -99.4M | -79.8M | -248.6M | -252.8M | -241.6M | -235.5M |
| Capital expenditure | -1.7M | -8M | -1.9M | -3.5M | -9.1M | -4.1M | -2M | — |
| Investing cash flow | -1.7M | -319M | 81.7M | -479.5M | -188.7M | 257.6M | -41.1M | 193.2M |
| Dividends paid | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — |
| Financing cash flow | 395M | 5M | 422.8M | 382.2M | 284.7M | 30.3M | 265.9M | 0 |
| Net change in cash | 350.3M | -377.8M | 405M | -177.1M | -152.6M | 35.2M | -16.8M | -42.2M |
| Free cash flow | -45.8M | -74.1M | -104.4M | -77.9M | -238.6M | -304.4M | -251.1M | -235.9M |
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 | -65.7M | -83.5M | -81.4M | -92.2M | -88.1M | -76M | -77.1M | -70.4M | -74.1M | -54.9M | -73.3M | -83.7M |
| Depreciation & amortization | 1.4M | 1.4M | 1.4M | 1.4M | 1.4M | 1.3M | 1.2M | 1M | 748K | 599K | 504K | 360K |
| Stock-based compensation | 21.8M | 19.3M | 27.2M | 26.8M | 22.5M | 17.6M | 19.3M | 14.5M | 15.5M | 13.1M | 10.5M | 9.2M |
| Change in working capital | -996K | -4.8M | 452K | -4M | -4M | 8M | -11.2M | -6.6M | 976K | -107K | 4.6M | 912K |
| Operating cash flow | -44.7M | -69.8M | -54.2M | -79.4M | -68.3M | -49.1M | -67.7M | -55.3M | -62.1M | -44.9M | -51.1M | -54.1M |
| Capital expenditure | -590K | -118K | -1.8M | -11K | -227K | 0 | -384K | — | — | — | — | — |
| Investing cash flow | 71.4M | 59.7M | 10.5M | 45.5M | -126.2M | 29M | 42.5M | 75.2M | 39.7M | 35.5M | 32.9M | -353M |
| Dividends paid | — | — | — | — | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — | — | — | — | — |
| Financing cash flow | 9.4M | 20.9M | 47.7M | 0 | 218.2M | 0 | 0 | 0 | 0 | 0 | 137.1M | 318.9M |
| Net change in cash | 36M | 10.8M | 4.1M | -33.8M | 23.7M | -20.1M | -25.2M | 19.9M | -22.4M | -9.4M | 118.9M | -88.2M |
| Free cash flow | -76M | -89.3M | -52.1M | -65.8M | -75.3M | -57.9M | -73.6M | -55.3M | -62.1M | -44.9M | -51.1M | -54.1M |