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 | -$1.28 | -$0.85 | +33.6% | — | $0 | — |
| Q1 26 | -$1.2 | -$1.46 | -21.7% | — | $212K | — |
| Q4 25 | -$1.17 | -$1.52 | -29.9% | — | $222K | — |
| Q3 25 | -$1.56 | $2.88 | +284.6% | — | $212K | — |
| Q2 25 | -$1.96 | -$1.76 | +10.2% | — | $212K | — |
| Q1 25 | -$2.28 | -$1.68 | +26.3% | — | $212K | — |
| Q4 24 | -$2.37 | -$2 | +15.6% | — | $38K | — |
| Q3 24 | -$2.7 | -$2.08 | +23.0% | — | $299K | — |
| Q2 24 | -$2.86 | -$2.96 | -3.5% | — | $299K | — |
| Q1 24 | -$3.68 | -$3.76 | -2.2% | — | $0 | — |
| Q4 23 | -$3.44 | -$4 | -16.3% | — | $0 | — |
| Q3 23 | -$3.98 | -$3.6 | +9.5% | — | $0 | — |
| Q2 23 | -$3.77 | -$3.68 | +2.4% | — | $0 | — |
| Q1 23 | -$3.72 | -$3.44 | +7.5% | — | $0 | — |
| Q4 22 | -$4.92 | -$3.68 | +25.2% | — | $0 | — |
| Q3 22 | -$4.32 | -$4.8 | -11.1% | — | $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 | — | -$1.59 | — | — | $858K | — |
| FY24 | — | -$10.6 | — | — | $636K | — |
| FY23 | — | -$1.84 | — | — | $0 | — |
| FY22 | — | -$2.09 | — | — | $0 | — |
| FY21 | — | -$1.84 |
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 | $0 | $0 | $0 | $0 | $0 | $636K | $858K |
| YoY change | — | 0% | 0% | 0% | 0% | +InfinityT% | +34.9% |
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 | Q1 24 |
|---|
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 | 0 | 0 | 0 | 0 | 0 | 636K | 858K |
| Cost of revenue | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — |
| Research & development | 11.4M | 17.6M | 26.9M | 40.7M | 53.5M | 41.5M | 19.6M |
| Selling, general & administrative | 6.3M | 7.7M | 18.7M | 27.2M | 25.4M | 19.6M | 14.3M |
| Operating expenses | 17.6M | 25.3M | 45.6M | 67.9M | 78.9M | 61.1M | 33.9M |
| Operating income | -17.6M | -25.3M | -45.6M | -67.9M | -78.9M | -60.5M | -33.1M |
| Operating margin | — | — | — | — | — | -9.5K% | -3.9K% |
| Non-operating income, net | 24K | 241K | 96K | -733K | -1.8M | -1.5M | 21.9M |
| Pretax income | -17.5M | -24.9M | -45.5M | -66.7M | -74.6M | -57.8M | -9M |
| Income tax | 0 | -15K | 0 | — | — | — | — |
| Net income | -17.6M | -26.4M | -47M | -66.7M | -74.6M | -57.8M | -9M |
| Net margin | — | — | — | — | — | -9.1K% | -1K% |
| EBITDA | -17.4M | -24.8M | -45.4M | -67.7M | -78.8M | -60.4M | -33M |
| EPS | -1.01 | -1.19 | -1.84 | -2.09 | -1.84 | -10.6 | -1.59 |
| Diluted EPS | -1.01 | -1.19 | -1.84 | -2.09 | -1.84 | -10.6 | -1.59 |
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 | 299K | 299K | 38K | 212K | 212K | 212K | 222K | 212K | 0 |
| Cost of revenue | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — | — | — | — | — | — |
| Research & development | 13.3M | 15.9M | 12.9M | 12.9M | 8.2M | 7.4M | 5.7M | 6.1M | 4.1M | 3.7M | 2.9M | 758K |
| Selling, general & administrative | 6.1M | 5.2M | 6.9M | 4.4M | 4.1M | 4.3M | 4.2M | 4.2M | 3M | 3M | 6.1M | 4.9M |
| Operating expenses | 19.4M | 21.1M | 19.8M | 17.3M | 12.4M | 11.6M | 9.9M | 10.3M | 7.1M | 6.6M | 8.9M | 5.7M |
| Operating income | -19.4M | -21.1M | -19.8M | -17M | -12.1M | -11.6M | -9.7M | -10.1M | -6.9M | -6.4M | -8.7M | -5.7M |
| Operating margin | — | — | — | -5.7K% | -4K% | -30.5K% | -4.6K% | -4.7K% | -3.3K% | -2.9K% | -4.1K% | — |
| Non-operating income, net | -556K | -578K | -518K | -344K | -386K | -247K | -413K | 118K | 22.5M | 0 | 254K | 50.4M |
| Pretax income | -18.4M | -20.2M | -19M | -16.2M | -11.5M | -11M | -9.4M | -9.4M | 16M | -5.9M | -8.3M | 45M |
| Income tax | — | — | — | — | — | — | — | — | — | — | — | 1.3M |
| Net income | -18.4M | -20.2M | -19M | -16.2M | -11.5M | -11M | -9.4M | -9.7M | 16M | -5.9M | -8.3M | 43.7M |
| Net margin | — | — | — | -5.4K% | -3.8K% | -29.1K% | -4.5K% | -4.6K% | 7.6K% | -2.6K% | -3.9K% | — |
| EBITDA | -19.3M | -21.1M | -19.8M | -17M | -12M | -11.6M | -9.6M | -10M | -6.9M | -6.4M | -8.7M | -55.7M |
| EPS | -0.45 | — | -0.47 | -0.37 | -0.26 | -2 | -1.68 | -1.76 | 2.88 | — | -1.46 | 7.66 |
| Diluted EPS | -0.45 | — | -0.47 | -0.37 | -0.26 | -2 | -1.68 | -1.76 | 2.88 | — | -1.46 | 7.53 |
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 | — | — | — | — | — | — | 30.9M | 90.6M |
| Enterprise value | — | — | — | — | — | — | -23.7M | -4.6M |
| Shares outstanding | 17.4M | 22.2M | 25.5M | 31.8M | 40.4M | 5.4M | 5.6M | 5.6M |
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| P/E | — | — | — | — | — | — | — | 2.08 |
| P/S | — | — | — | — | — | — | 36 | 136.5 |
| P/B | — | — | — | — | — | — | 0.53 | 0.93 |
| EV/EBITDA | — | — | — | — | — | — | 0.72 | 0.18 |
| EV/Sales | — | — | — | — | — | — | -27.6 | -7.1 |
| Earnings yield | — | — | — | — | — | — | — | 48.1% |
| FCF yield | — | — | — | — | — | — | -96.5% | -15.8% |
| PEG | — | — | — | — | — | — | — | -0 |
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| Operating margin | — | — | — | — | — | -9.5K% | -3.9K% | -3.9K% |
| Net margin | — | — | — | — | — | -9.1K% | -1K% | 7.1K% |
| ROE | 86.6% | -19.4% | -26.8% | -39.4% | -70.2% | -93.7% | -15.5% | 64.9% |
| ROA | -81.3% | -18.6% | -25.8% | -36.9% | -64.5% | -84.8% | -14.4% | -21.3% |
| ROIC | 44.4% | 598.2% | -17K% | — | — | — | — | — |
| Return on tangible assets | -81.3% | -18.6% | -25.8% | -36.9% | -64.5% | -84.8% | -14.4% | 46.5% |
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| Current ratio | 5.5 | 24.2 | 27.6 | 16.7 | 12.4 | 10.9 | 14.5 | 27.3 |
| Quick ratio | 5.5 | 24.2 | 27.6 | 16.7 | 12.4 | 10.9 | 14.5 | 27.3 |
| Debt / equity | — | — | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt / assets | — | — | 0 | 0 | 0 | 0 | 0 | 0 |
| Net debt / EBITDA | — | — | 3.86 | 2.49 | 1.39 | 1.08 | 1.65 | 1.2 |
| Interest coverage | -446.7 | -508 | -4.5K | — | — | — | — | — |
| Effective tax rate | 0% | 0% | 0% | — | — | — | — | — |
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| Revenue per share | 0 | 0 | 0 | 0 | 0 | 0.12 | 0.15 | 0.11 |
| EPS (basic) | -1.01 | -1.19 | -1.84 | -2.09 | -1.84 | -10.6 | -1.59 | -1.59 |
| EPS (diluted) | -1.01 | -1.19 | -1.84 | -2.09 | -1.84 | -10.6 | -1.59 | 7.99 |
| Book value per share | -1.17 | 6.11 | 6.88 | 5.32 | 2.63 | 11.3 | 10.3 | 17.8 |
| FCF per share | -0.87 | -1 | -1.8 | -1.8 | -1.49 | -9.05 | -5.3 | 4.61 |
| Cash per share | 1.12 | 6.3 | 6.87 | 5.31 | 2.72 | 12 | 9.72 | 17.5 |
| Capex per share | 0.01 | 0.01 | 0.01 | 0 | 0 | 0 | — | — |
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| Capex / revenue | — | — | — | — | — | 0% | — | — |
| Capex / operating cash flow | -1.14% | -0.55% | -0.75% | -0.09% | -0.02% | 0% | — | — |
| Payout ratio | — | — | — | — | — | — | — | 0% |
| — |
| — |
| $0 |
| — |
| FY20 | — | -$1.19 | — | — | $0 | — |
| FY19 | — | -$1.01 | — | — | $0 | — |
| Q2 24 |
|---|
| Q3 24 |
|---|
| Q4 24 |
|---|
| Q1 25 |
|---|
| Q2 25 |
|---|
| Q3 25 |
|---|
| Q4 25 |
|---|
| Q1 26 |
|---|
| Q2 26 |
|---|
| Revenue | $0 | $0 | $0 | $299K | $299K | $38K | $212K | $212K | $212K | $222K | $212K | $0 |
| YoY change | 0% | 0% | 0% | +InfinityT% | +InfinityT% | +InfinityT% | +InfinityT% | -29.1% | -29.1% | +484.2% | 0% | -100% |
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 | 19.5M | 140.2M | 175.3M | 169M | 109.9M | 65.5M | 54.7M |
| Receivables | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — |
| Total current assets | 20.9M | 141.3M | 180.9M | 179.5M | 114.8M | 67.8M | 61.3M |
| Property, plant & equipment | 199K | 287K | 511K | 909K | 246K | 115K | 23K |
| Goodwill & intangibles | — | — | — | — | — | — | — |
| Total assets | 21.6M | 141.9M | 182.2M | 180.4M | 115.6M | 68.1M | 62.3M |
| Accounts payable | 857K | 1.6M | 603K | 1.1M | 976K | 278K | 126K |
| Short-term debt | — | — | — | 181K | 219K | 154K | 94K |
| Total current liabilities | 3.8M | 5.8M | 6.6M | 10.7M | 9.3M | 6.2M | 4.2M |
| Long-term debt | — | — | 0 | 374K | 173K | 0 | 82K |
| Total liabilities | 41.9M | 5.9M | 6.6M | 11.1M | 9.4M | 6.5M | 4.3M |
| Shareholders' equity | -20.3M | 136M | 175.6M | 169.3M | 106.2M | 61.7M | 58M |
| Total debt | — | — | 0 | 555K | 392K | 154K | 176K |
| Net debt | — | — | -175.3M | -56.4M | -24.1M | -13.7M | -31.2M |
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 | 121.4M | 109.9M | 94.2M | 88.6M | 75.1M | 65.5M | 54.5M | 45.7M | 59.3M | 54.7M | 46.8M | 92.8M |
| Receivables | — | — | — | — | — | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current assets | 132.4M | 114.8M | 98.5M | 91.4M | 78.2M | 67.8M | 57.4M | 50.3M | 66.6M | 61.3M | 53.5M | 97.3M |
| Property, plant & equipment | 670K | 246K | 510K | 427K | 346K | 115K | 189K | 112K | 224K | 23K | 172K | — |
| Goodwill & intangibles | — | — | — | — | — | — | — | — | — | — | — | — |
| Total assets | 133.2M | 115.6M | 99.4M | 92.4M | 79M | 68.1M | 58M | 51M | 67.7M | 62.3M | 54.5M | 98.1M |
| Accounts payable | 464K | 976K | 470K | 1.2M | 583K | 278K | 400K | 119K | 269K | 126K | 940K | 833K |
| Short-term debt | 217K | 219K | 223K | 226K | 230K | 154K | 116K | 58K | 90K | 94K | 99K | — |
| Total current liabilities | 9.4M | 9.3M | 10.1M | 12.2M | 8.2M | 6.2M | 3.9M | 5M | 4.5M | 4.2M | 4.1M | 3.6M |
| Long-term debt | 211K | 173K | 116K | 58K | 0 | 0 | — | — | 108K | 82K | 55K | 0 |
| Total liabilities | 9.6M | 9.4M | 10.2M | 12.4M | 8.2M | 6.5M | 3.9M | 5M | 4.6M | 4.3M | 4.2M | 3.6M |
| Shareholders' equity | 123.6M | 106.2M | 89.2M | 80M | 70.8M | 61.7M | 54.1M | 46M | 63M | 58M | 50.3M | 94.5M |
| Total debt | 428K | 392K | 339K | 284K | 230K | 154K | 116K | 58K | 198K | 176K | 154K | 0 |
| Net debt | -18.7M | -24.1M | -19M | -16.4M | -25.1M | -13.7M | -14.7M | -9.4M | -31.9M | -31.2M | -41.1M | -92.8M |
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 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|
| Net income | -17.6M | -26.4M | -47M | -66.7M | -74.6M | -57.8M | -9M |
| Depreciation & amortization | 26K | 62K | 109K | 167K | 150K | 131K | 92K |
| Stock-based compensation | 194K | 704K | 3.6M | 9.5M | 10.9M | 8M | 5.3M |
| Change in working capital | 728K | 723K | -976K | 487K | -99K | 362K | -1M |
| Operating cash flow | -16.5M | -25M | -44.2M | -56.9M | -66.7M | -50.9M | -29.8M |
| Capital expenditure | -188K | -137K | -333K | -54K | -12K | 0 | — |
| Investing cash flow | -188K | -2.1M | -2.3M | -112.2M | 27.7M | 33.5M | 47.3M |
| Dividends paid | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — |
| Financing cash flow | 31.6M | 144.9M | 83M | 50.8M | -139K | 5.1M | 0 |
| Net change in cash | 14.9M | 117.9M | 36.4M | -118.3M | -39.2M | -12.3M | 17.5M |
| Free cash flow | -15.2M | -22.2M | -45.9M | -57.3M | -60.3M | -49.3M | -29.8M |
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 | -18.4M | -20.2M | -19M | -16.2M | -11.5M | -11M | -9.4M | -9.7M | 16M | -5.9M | -8.3M | 43.7M |
| Depreciation & amortization | 37K | 36K | 35K | 34K | 32K | 30K | 28K | 26K | 35K | 3K | 3K | 2K |
| Stock-based compensation | 2.6M | 2.5M | 2.1M | 1.9M | 2M | 2M | 1.9M | 1.6M | 1M | 774K | 613K | 424K |
| Change in working capital | -236K | 524K | -506K | 748K | -935K | -342K | -90K | -493K | -62K | -355K | 602K | -107K |
| Operating cash flow | -16.6M | -17.8M | -18M | -14M | -10.7M | -9.7M | -7.8M | -8.4M | -6.5M | -4.7M | -8M | 45.9M |
| Capital expenditure | 0 | -12K | — | — | — | — | — | — | — | — | — | — |
| Investing cash flow | 3.1M | 16.9M | 10.3M | 2.6M | 22.2M | -1.6M | 11.1M | 3M | 29.2M | 3.9M | 17.9M | 5.5M |
| Dividends paid | — | — | — | — | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — | — | — | — | — |
| Financing cash flow | 0 | -1K | — | — | -11K | 0 | — | — | 0 | 0 | — | — |
| Net change in cash | -13.6M | -882K | -7.7M | -11.4M | 11.5M | -11.3M | 3.2M | -5.3M | 22.7M | -754K | 9.9M | 51.4M |
| Free cash flow | -16.5M | -11.7M | -15.5M | -10.4M | -13.5M | -9.9M | -10.2M | -8.4M | -6.5M | -4.7M | -8M | 45.9M |