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 | -$0.64 | -$1.18 | -84.4% | — | $3M | — |
| Q1 26 | -$1.05 | -$0.97 | +7.6% | — | $19.6M | — |
| Q4 25 | -$1.26 | -$1.59 | -26.2% | — | $859K | — |
| Q3 25 | -$1.1 | -$1.27 | -15.5% | — | $12.3M | — |
| Q2 25 | -$0.96 | -$1.21 | -26.0% | — | — | — |
| Q1 25 | -$0.88 | -$0.9 | -2.3% | — | $1.6M | — |
| Q4 24 | -$0.78 | -$0.8 | -2.6% | — | $3M | — |
| Q3 24 | -$0.72 | -$0.65 | +9.7% | — | $2.3M | — |
| Q2 24 | -$0.78 | -$0.65 | +16.7% | — | $2M | — |
| Q1 24 | -$0.88 | -$0.79 | +10.2% | — | $3.5M | — |
| Q4 23 | -$0.63 | -$0.79 | -25.4% | — | $2.2M | — |
| Q3 23 | -$0.77 | -$0.71 | +7.8% | — | $2.8M | — |
| Q2 23 | -$0.8 | -$0.66 | +17.5% | — | $2.3M | — |
| Q1 23 | -$0.85 | -$0.74 | +12.9% | — | $2.2M | — |
| Q4 22 | -$0.89 | -$0.88 | +1.1% | — | $2.8M | — |
| Q3 22 | -$0.93 | -$0.82 | +11.8% | — | $2.5M | — |
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 | — | -$2.89 | — | — | $18.6M | — |
| FY24 | — | -$1.47 | — | — | $10.9M | — |
| FY23 | — | -$0.37 | — | — | $9.8M | — |
| FY22 | — | -$3.34 | — | — | $9.2M | — |
| 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 | $379K | $2.3M | $6.8M | $9.3M | $9.2M | $9.8M | $10.9M | $18.6M |
| YoY change | — | +511.9% | +192.7% | +37.4% | -1.09% | +5.85% | +11.6% | +70.9% |
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 | 379K | 2.3M | 6.8M | 9.3M | 9.2M | 9.8M | 10.9M | 18.6M |
| Cost of revenue | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — | — |
| Research & development | 8.4M | 14.5M | 37.6M | 101.2M | 150.4M | 12.7M | 19.2M | 53.8M |
| Selling, general & administrative | 2.4M | 5.1M | 13.5M | 26.2M | 37.7M | 3.5M | 4.9M | 41.7M |
| Operating expenses | 10.9M | 19.7M | 51.1M | 127.4M | 188.1M | 16.1M | 24.1M | 95.4M |
| Operating income | -10.5M | -17.3M | -44.3M | -118.1M | -178.9M | -6.4M | -13.2M | -76.8M |
| Operating margin | -2.8K% | -747.4% | -652.4% | -1.3K% | -1.9K% | -65.4% | -121.3% | -412.6% |
| Non-operating income, net | — | -15K | -75K | -62K | -57K | 1K | 2K | -12K |
| Pretax income | -11.2M | -24.7M | -44.4M | -118M | -174M | -6.4M | -13.2M | -76.8M |
| Income tax | — | — | — | — | — | 0 | 11.9M | -142K |
| Net income | -11.2M | -24.7M | -44.4M | -118M | -174M | -6.4M | -25.1M | -76.7M |
| Net margin | -3K% | -1.1K% | -653.5% | -1.3K% | -1.9K% | -65.4% | -230.5% | -411.9% |
| EBITDA | -10.1M | -17M | -43.8M | -117.4M | -177.5M | -6.2M | -13M | -76.5M |
| EPS | -0.54 | -1.2 | -2.05 | -5.7 | -3.34 | -0.37 | -1.47 | -2.89 |
| Diluted EPS | -0.54 | -1.2 | -2.05 | -5.7 | -3.34 | -0.37 | -1.47 | -2.89 |
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 | 2.8M | 2.2M | 3.5M | 2M | 2.3M | 3M | 1.6M | — | 12.3M | 859K | 19.6M | 3M |
| Cost of revenue | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — | — | — | — | — | — |
| Research & development | 47.7M | 52.8M | 66.8M | 63.9M | 77.2M | 21.4M | 6.9M | — | 15M | 18.5M | 16.7M | 15.3M |
| Selling, general & administrative | 13.7M | 16.1M | 13.9M | 20.7M | 23.3M | 25.8M | 2.1M | — | 5.8M | 30.4M | 20.3M | 10.3M |
| Operating expenses | 61.4M | 68.9M | 80.7M | 84.7M | 100.5M | 47.2M | 9M | — | 20.8M | 48.9M | 36.9M | 25.6M |
| Operating income | -58.6M | -66.7M | -77.2M | -82.6M | -98.1M | -44.2M | -7.5M | — | -8.5M | -48M | -17.3M | -22.6M |
| Operating margin | -2.1K% | -3K% | -2.2K% | -4K% | -4.2K% | -1.5K% | -473.7% | — | -68.6% | -5.6K% | -88% | -752.9% |
| Non-operating income, net | -13K | -105K | -101K | -116K | -232K | 4K | 3K | — | 0 | 0 | 647K | 328K |
| Pretax income | -52.4M | -60.4M | -68.9M | -70.8M | -80.4M | -44.2M | -7.4M | — | -8.5M | -48M | -16.6M | -20.2M |
| Income tax | — | — | — | — | — | 1.9M | — | — | — | 34K | — | — |
| Net income | -52.4M | -60.4M | -68.9M | -70.8M | -80.4M | -46.2M | -7.4M | — | -8.3M | -48.1M | -16.6M | -20.2M |
| Net margin | -1.9K% | -2.8K% | -1.9K% | -3.5K% | -3.4K% | -1.6K% | -473.6% | — | -67.2% | -5.6K% | -84.7% | -672% |
| EBITDA | -58.1M | -66.1M | -76.5M | -81.9M | -97.4M | -44.2M | -7.4M | — | -8.4M | -47.9M | -17.1M | -22.3M |
| EPS | -0.71 | — | -0.79 | -0.65 | -0.65 | -0.8 | -0.44 | — | — | — | -0.97 | -1.18 |
| Diluted EPS | -0.71 | — | -0.79 | -0.65 | -0.65 | -0.8 | -0.44 | — | — | — | -0.97 | -1.18 |
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 | — | — | 552.8M | 492.4M | — | — | 497.7M | 1.2B | 144M |
| Enterprise value | — | — | 225.6M | 98.6M | — | — | 504.5M | 967.5M | -120.4M |
| Shares outstanding | 20.7M | 20.7M | 21.7M | 20.7M | 52.2M | 17.1M | 17.1M | 17.1M | 17.1M |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| P/E | — | — | — | — | — | — | — | — | -2.92 |
| P/S | — | — | 81.5 | 52.8 | — | — | 45.7 | 66.3 | 3.96 |
| P/B | — | — | 1.81 | 1.29 | — | — | -8.14 | 5.95 | 0.66 |
| EV/EBITDA | — | — | -5.15 | -0.84 | — | — | -38.7 | -12.6 | 1.76 |
| EV/Sales | — | — | 33.2 | 10.6 | — | — | 46.3 | 52 | -3.36 |
| Earnings yield | — | — | — | — | — | — | — | — | -34.3% |
| FCF yield | — | — | -6.91% | -20% | — | — | -4.59% | -3.45% | -53.2% |
| PEG | — | — | — | — | — | — | — | — | -1.03 |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Operating margin | -2.8K% | -747.4% | -652.4% | -1.3K% | -1.9K% | -65.4% | -121.3% | -412.6% | -752.9% |
| Net margin | -3K% | -1.1K% | -653.5% | -1.3K% | -1.9K% | -65.4% | -230.5% | -411.9% | -184.1% |
| ROE | 27.3% | 37.8% | -14.5% | -30.9% | -30.1% | 9.04% | 41.1% | -37% | -37% |
| ROA | -281.7% | -25.5% | -13.3% | -27.6% | -27.2% | -62% | -349.6% | -27.5% | -27.5% |
| ROIC | — | — | — | — | — | 10.5% | 24.3% | 130.1% | 130.1% |
| Return on tangible assets | -281.7% | -25.5% | -13.3% | -27.6% | -27.2% | -62% | -349.6% | -27.5% | -33.2% |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Current ratio | 0.7 | 9.35 | 22.7 | 13.9 | 12 | 0.03 | 0.02 | 6.53 | 8.73 |
| Quick ratio | 0.7 | 9.35 | 22.7 | 13.9 | 12 | 0.03 | 0.02 | 6.53 | 8.73 |
| Debt / equity | -0.25 | -0.08 | 0 | 0.03 | 0.02 | -0.14 | -0.11 | 0.02 | 0.01 |
| Debt / assets | 2.59 | 0.05 | 0 | 0.03 | 0.02 | 0.96 | 0.95 | 0.01 | 0.01 |
| Net debt / EBITDA | -0.72 | 5.28 | 7.47 | 3.35 | 3.38 | — | — | 3.48 | 2.74 |
| Interest coverage | -14.6 | -2.35 | -211.2 | — | — | — | — | — | — |
| Effective tax rate | — | — | — | — | — | 0% | 0% | 0% | 0% |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Revenue per share | 0.02 | 0.11 | 0.31 | 0.45 | 0.18 | 0.57 | 0.64 | 1.09 | 2.1 |
| EPS (basic) | -0.54 | -1.2 | -2.05 | -5.7 | -3.34 | -0.37 | -1.47 | -2.89 | -2.89 |
| EPS (diluted) | -0.54 | -1.2 | -2.05 | -5.7 | -3.34 | -0.37 | -1.47 | -2.89 | -5.44 |
| Book value per share | -1.99 | -3.16 | 14.1 | 18.4 | 11.1 | -4.13 | -3.57 | 12.1 | 12.5 |
| FCF per share | -0.47 | 0.11 | -1.76 | -4.76 | -2.67 | 3.28 | -1.33 | -2.49 | -3.3 |
| Cash per share | 0.15 | 4.57 | 15.1 | 19.6 | 11.7 | — | — | 15.8 | 15.4 |
| Capex per share | 0 | 0.01 | 0.05 | 0.18 | 0.05 | 0.02 | 0.02 | — | — |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Capex / revenue | 12.9% | 10.1% | 16.1% | 40.1% | 30.6% | 3.28% | 2.44% | — | — |
| Capex / operating cash flow | -0.5% | 11.3% | -3.01% | -3.81% | -2.15% | 0.56% | -1.2% | — | — |
| Payout ratio | 0% | -0.43% | 0% | 0% | — | — | — | — | 0% |
| Dividend yield | — | — | 0% | 0% | — | — | — | — | — |
| — |
| -$5.7 |
| — |
| — |
| $9.3M |
| — |
| FY20 | — | -$2.05 | — | — | $6.8M | — |
| FY19 | — | -$1.2 | — | — | $2.3M | — |
| FY18 | — | -$0.54 | — | — | $379K | — |
| 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 | $2.8M | $2.2M | $3.5M | $2M | $2.3M | $3M | $1.6M | — | $12.3M | $859K | $19.6M | $3M |
| YoY change | +13.5% | -20.8% | +58.7% | -11.7% | -17.1% | +35.6% | -55.6% | — | +428.2% | -71.1% | +1.1K% | — |
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 | 3.1M | 94.6M | 328.1M | 405.5M | 610.7M | — | — | 270M |
| Receivables | — | — | — | — | 2.4M | 751K | 0 | — |
| Inventory | — | — | — | — | — | — | — | — |
| Total current assets | 3.2M | 95.7M | 331.7M | 411.1M | 622.9M | 856K | 483K | 272.8M |
| Property, plant & equipment | 702K | 631K | 1.9M | 15.6M | 15M | 9.4M | 6.7M | 5.5M |
| Goodwill & intangibles | — | — | — | — | — | — | — | — |
| Total assets | 4M | 96.9M | 333.9M | 427.6M | 638.8M | 10.3M | 7.2M | 278.4M |
| Accounts payable | 1.6M | 2.3M | — | 2.8M | 4.6M | 498K | 532K | 4.4M |
| Short-term debt | 2.7M | 2.8M | — | 1.8M | 3.1M | 3.6M | 3.8M | 3.7M |
| Total current liabilities | 4.6M | 10.2M | 14.6M | 29.7M | 51.9M | 33.8M | 26.8M | 41.8M |
| Long-term debt | 7.6M | 2.2M | 938K | 10M | 7.6M | 6.2M | 3M | — |
| Total liabilities | 45.1M | 162.3M | 27.7M | 46.1M | 60.7M | 80.9M | 68.3M | 71.1M |
| Shareholders' equity | -41.1M | -65.4M | 306.2M | 381.4M | 578.1M | -70.6M | -61.1M | 207.3M |
| Total debt | 10.3M | 4.9M | 938K | 11.7M | 10.7M | 9.9M | 6.8M | 3.7M |
| Net debt | 7.2M | -89.6M | -320.5M | -308.7M | -329.7M | — | — | -266.3M |
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 23 | Q2 23 | Q3 23 | Q4 23 | Q1 24 | Q2 24 | Q3 24 | Q4 24 | Q3 25 | Q4 25 | Q1 26 | Q2 26 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & short-term investments | 586.3M | 576.5M | 542.6M | 595.4M | 915.9M | 1.3B | 1.6B | — | 270M | 270M | 267.8M | 263.9M |
| Receivables | — | — | — | 1.1M | 1.6M | 0 | 0 | 0 | — | — | 15M | — |
| Inventory | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current assets | 597.1M | 594.5M | 555.5M | 611.3M | 934.5M | 1.3B | 1.6B | 483K | 271.3M | 272.8M | 285.6M | 275.1M |
| Property, plant & equipment | 16.1M | 15.5M | 17M | 16.7M | 16.3M | 15.5M | 15.8M | 6.7M | 6.3M | 5.5M | 6.4M | 5.4M |
| Goodwill & intangibles | — | — | — | — | — | — | — | — | — | — | — | — |
| Total assets | 614M | 610.8M | 573.2M | 628.6M | 951.5M | 1.3B | 1.6B | 7.2M | 277.5M | 278.4M | 292.4M | 280.5M |
| Accounts payable | 3.9M | 5.7M | 5.5M | 8.8M | 2.3M | 8.9M | 7.7M | 532K | 451K | 4.4M | 807K | 3.5M |
| Short-term debt | 3.1M | 3.2M | 3.6M | 3.6M | 3.7M | 3.8M | 3.8M | 3.8M | 4M | 3.7M | 2.7M | 1.7M |
| Total current liabilities | 48.1M | 45.2M | 48.7M | 80.7M | 75M | 84.2M | 91.3M | 26.8M | 31.7M | 41.8M | 21.9M | 31.5M |
| Long-term debt | 7M | 6.4M | 7M | 6.2M | 5.4M | 4.6M | 3.8M | 3M | 312K | — | — | — |
| Total liabilities | 55.1M | 51.6M | 55.7M | 127.8M | 120.6M | 126.4M | 137.4M | 68.3M | 64.7M | 71.1M | 58.3M | 65.9M |
| Shareholders' equity | 558.9M | 559.2M | 517.5M | 500.8M | 830.9M | 1.2B | 1.5B | -61.1M | 212.9M | 207.3M | 234.1M | 214.6M |
| Total debt | 10.1M | 9.5M | 10.6M | 9.9M | 9.1M | 8.4M | 7.6M | 6.8M | 4.3M | 3.7M | 2.7M | 1.7M |
| Net debt | -108.6M | -144.4M | -75.1M | -175.2M | -462.3M | -567.4M | -362.6M | — | -265.7M | -266.3M | -265.2M | -70.7M |
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 | -11.2M | -24.7M | -44.4M | -118M | -174M | -6.4M | -25.1M | -49.5M |
| Depreciation & amortization | 383K | 348K | 373K | 639K | 1.4M | 138K | 172K | 323K |
| Stock-based compensation | 60K | 406K | 4.3M | 17.1M | 27.1M | 2.5M | 3.2M | 7.7M |
| Change in working capital | 532K | 19M | 3.2M | 1.4M | 11.4M | 60.8M | -12.4M | -9.6M |
| Operating cash flow | -9.8M | 2.1M | -36.2M | -98.3M | -131.3M | 57.1M | -22.1M | -41.1M |
| Capital expenditure | -49K | -235K | -1.1M | -3.7M | -2.8M | -320K | -266K | — |
| Investing cash flow | -49K | -235K | -7.8M | -82.5M | -190M | -320K | -266K | — |
| Dividends paid | 0 | -106K | 0 | 0 | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — |
| Financing cash flow | 5M | 89.2M | 247.5M | 163.4M | 344.8M | -56.1M | 22.8M | 42.6M |
| Net change in cash | -4.9M | 91M | 203.5M | -17.4M | 23.5M | 664K | 442K | 1.4M |
| Free cash flow | -9.7M | 2.3M | -38.2M | -98.6M | -139.1M | 56.1M | -22.8M | -42.6M |
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 | Q2 23 | Q3 23 | Q4 23 | Q1 24 | Q2 24 | Q3 24 | Q4 24 | Q1 25 | Q3 25 | Q4 25 | Q1 26 | Q2 26 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net income | -47M | -52.4M | -60.4M | -68.9M | -70.8M | -80.4M | -11.5M | -7.4M | -37K | -29.1M | -16.6M | -20.2M |
| Depreciation & amortization | 529K | 566K | 615K | 641K | 687K | 710K | 58K | 53K | 69K | 122K | 151K | 343K |
| Stock-based compensation | 9.5M | 9.8M | 9.8M | 10.3M | 12.8M | 14.1M | 1.1M | 1.2M | 1.2M | 3.6M | 12.2M | 893K |
| Change in working capital | -4M | -2.4M | 68.7M | -1.3M | 495K | 11.4M | -3.5M | -5.3M | -925K | 763K | -23.6M | -6.8M |
| Operating cash flow | -40.4M | -43.7M | 19.6M | -58.4M | -56M | -53.4M | -8.6M | -11.1M | 1.1M | -19.3M | -31.1M | -3.9M |
| Capital expenditure | -622K | -923K | -863K | -915K | -531K | -1.7M | -218K | — | — | — | — | — |
| Investing cash flow | 46M | -31.5M | 51M | -32.7M | -274.9M | -482.4M | -218K | — | — | — | — | — |
| Dividends paid | — | — | — | — | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — | — | — | — | — |
| Financing cash flow | 38.1M | 0 | 31.2M | 244.2M | 574.4M | 465.2M | 8.5M | 11.1M | -833K | 20.1M | 301.5M | 0 |
| Net change in cash | 43.8M | -75.1M | 101.8M | 153.1M | 243.6M | -70.7M | -289K | 0 | 300K | 879K | 270.4M | -3.9M |
| Free cash flow | -50.4M | -37.7M | 15.6M | -71.3M | -65.5M | -67.3M | -8.5M | -11.1M | 833K | -20.1M | -33.2M | -4M |