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 | -$0.23 | -$0.25 | -8.7% | — | $7.3M | — |
| Q1 26 | -$0.26 | -$0.22 | +15.4% | — | $6.3M | — |
| Q4 25 | -$0.32 | -$0.21 | +34.4% | — | $35.4M | — |
| Q3 25 | -$0.38 | -$0.36 | +5.3% | — | $5M | — |
| Q2 25 | -$0.35 | -$0.41 | -17.1% | — | $19.1M | — |
| Q1 25 | -$0.52 | -$0.5 | +3.8% | — | $14.8M | — |
| Q4 24 | -$0.42 | -$0.53 | -26.2% | — | $4.5M | — |
| Q3 24 | -$0.33 | -$0.34 | -3.0% | — | $26.1M | — |
| Q2 24 | -$0.38 | -$0.4 | -5.3% | — | $14.4M | — |
| Q1 24 | -$0.43 | -$0.39 | +9.3% | — | $13.5M | — |
| Q4 23 | -$0.45 | -$0.42 | +6.7% | — | $10.6M | — |
| Q3 23 | -$0.39 | -$0.43 | -10.3% | — | $10.1M | — |
| Q2 23 | -$0.37 | -$0.38 | -2.7% | — | $11M | — |
| Q1 23 | -$0.35 | -$0.34 | +2.9% | — | $12.1M | — |
| Q4 22 | -$0.29 | -$0.31 | -6.9% | — | $13.7M | — |
| Q3 22 | -$0.38 | -$0.35 | +7.9% | — | $13.1M | — |
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 | — | -$1.44 | — | — | $74.3M | — |
| FY24 | — | -$1.69 | — | — | $58.5M | — |
| FY23 | — | -$1.58 | — | — | $43.9M | — |
| FY22 | — | -$1.36 | — | — | $39.7M | — |
| FY21 | — | -$1.49 |
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 | $1.7M | $3.4M | $10M | $39.7M | $43.9M | $58.5M | $74.3M |
| YoY change | — | +99.5% | +193% | +296.8% | +10.6% | +33.3% | +27% |
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 | 1.7M | 3.4M | 10M | 39.7M | 43.9M | 58.5M | 74.3M |
| Cost of revenue | — | 0 | 0 | 48.3M | 42.6M | 45.2M | 71M |
| Gross profit | — | 3.4M | 10M | -8.6M | 1.3M | 13.3M | 3.3M |
| Gross margin | — | 100% | 100% | -21.7% | 2.94% | 22.7% | 4.45% |
| Research & development | 45.8M | 63.3M | 135.3M | 155.7M | 241.2M | 314.4M | 475.3M |
| Selling, general & administrative | 19M | 25.3M | 57.7M | 81.6M | 110.8M | 178.2M | 176.6M |
| Operating expenses | 64.2M | 88M | 192.8M | 237.1M | 351.3M | 492.3M | 651.4M |
| Operating income | -62.4M | -84.6M | -182.8M | -245.7M | -350.1M | -479M | -648.1M |
| Operating margin | -3.6K% | -2.5K% | -1.8K% | -619.3% | -797.8% | -819% | -872.8% |
| Non-operating income, net | -544K | -1.4M | -825K | 52K | -1.1M | 30K | -17.7M |
| Pretax income | -61.9M | -87M | -186.5M | -239.5M | -332.1M | -464.8M | -644.9M |
| Income tax | — | — | 0 | 0 | -4.1M | -1.1M | -136K |
| Net income | -61.9M | -87M | -186.5M | -239.5M | -328.1M | -463.7M | -644.8M |
| Net margin | -3.6K% | -2.5K% | -1.9K% | -603.5% | -747.7% | -792.7% | -868.3% |
| EBITDA | -58.2M | -80.3M | -174.3M | -227.7M | -307.6M | -426.7M | -559.4M |
| EPS | -0.55 | -0.77 | -1.49 | -1.36 | -1.58 | -1.69 | -1.44 |
| Diluted EPS | -0.55 | -0.77 | -1.49 | -1.36 | -1.58 | -1.69 | -1.44 |
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 | 10.1M | 10.6M | 13.5M | 14.4M | 26.1M | 4.5M | 14.8M | 19.1M | 5M | 35.4M | 6.3M | 7.3M |
| Cost of revenue | 10.9M | 9.9M | 11.2M | 9.2M | 12.1M | 12.8M | 21.8M | 20.2M | 14.7M | 14.3M | 12.5M | 11.5M |
| Gross profit | -775K | 743K | 2.3M | 5.2M | 14M | -8.3M | -7M | -1.1M | -9.7M | 21.1M | -6.2M | -4.2M |
| Gross margin | -7.67% | 6.99% | 17.2% | 36.1% | 53.7% | -183.6% | -47.3% | -5.54% | -194.7% | 59.6% | -98.2% | -57.3% |
| Research & development | 70M | 69.5M | 67.6M | 73.9M | 74.6M | 98.3M | 129.6M | 128.6M | 121.1M | 95.9M | 87.9M | 89.6M |
| Selling, general & administrative | 29.2M | 30.5M | 31.4M | 31.8M | 37.8M | 77.2M | 54.6M | 46.7M | 41.6M | 33.7M | 34.6M | 41.5M |
| Operating expenses | 98.8M | 99.7M | 98.7M | 105.7M | 112.4M | 175.5M | 184.4M | 175.2M | 162.5M | 129.4M | 122.3M | 130.8M |
| Operating income | -99.5M | -98.9M | -96.3M | -100.5M | -98.4M | -183.8M | -191.4M | -176.2M | -172.2M | -108.3M | -128.5M | -135M |
| Operating margin | -985.4% | -931.2% | -714.1% | -698% | -377.1% | -4.1K% | -1.3K% | -922.5% | -3.5K% | -306.5% | -2K% | -1.8K% |
| Non-operating income, net | 1.6M | -2.6M | 160K | -392K | -594K | 854K | -16.3M | -633K | 5.2M | -6M | 784K | -1M |
| Pretax income | -93M | -97.1M | -92.2M | -98.1M | -95.7M | -178.9M | -202.6M | -171.9M | -162.3M | -108.1M | -122.1M | -131M |
| Income tax | 0 | — | -779K | -523K | 167K | 7K | -158K | 0 | 3K | 20K | -4.6M | -1K |
| Net income | -93M | -93M | -91.4M | -97.5M | -95.8M | -178.9M | -202.5M | -171.9M | -162.3M | -108.1M | -117.5M | -131M |
| Net margin | -920.8% | -875.3% | -677.3% | -677.2% | -367.5% | -4K% | -1.4K% | -899.8% | -3.3K% | -305.8% | -1.9K% | -1.8K% |
| EBITDA | -85.4M | -89.5M | -84.8M | -88.7M | -87.9M | -165.3M | -182.8M | -147.6M | -140.4M | -88.6M | -102.1M | -112.5M |
| EPS | -0.43 | -0.42 | -0.39 | -0.4 | -0.34 | -0.53 | -0.5 | -0.41 | -0.36 | -0.21 | -0.22 | -0.25 |
| Diluted EPS | -0.43 | -0.42 | -0.39 | -0.4 | -0.34 | -0.53 | -0.5 | -0.41 | -0.36 | -0.21 | -0.22 | -0.25 |
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 | — | — | — | — | — | — | — | 2B |
| Enterprise value | — | — | — | — | — | — | — | 1.5B |
| Shares outstanding | 112.5M | 112.5M | 125.3M | 175.5M | 207.9M | 274.2M | 447.4M | 447.4M |
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| P/E | — | — | — | — | — | — | — | -2.57 |
| P/S | — | — | — | — | — | — | — | 36.6 |
| P/B | — | — | — | — | — | — | — | 2.19 |
| EV/EBITDA | — | — | — | — | — | — | — | -3.23 |
| EV/Sales | — | — | — | — | — | — | — | 27.8 |
| Earnings yield | — | — | — | — | — | — | — | -39% |
| FCF yield | — | — | — | — | — | — | — | -11.1% |
| PEG | — | — | — | — | — | — | — | 0.07 |
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| Gross margin | — | 100% | 100% | -21.7% | 2.94% | 22.7% | 4.45% | -57.3% |
| Operating margin | -3.6K% | -2.5K% | -1.8K% | -619.3% | -797.8% | -819% | -872.8% | -1.8K% |
| Net margin | -3.6K% | -2.5K% | -1.9K% | -603.5% | -747.7% | -792.7% | -868.3% | 4.45% |
| ROE | 49.8% | 42.2% | -34.3% | -49.3% | -70.8% | -44.8% | -57% | -56.6% |
| ROA | -61% | -29.1% | -30.6% | -34.1% | -50.2% | -32% | -43.7% | -27.3% |
| ROIC | — | — | -482.8% | 1.9K% | -285.7% | -87.3% | -139.2% | -124.8% |
| Return on tangible assets | -61% | -29.6% | -30.8% | -34.4% | -68.8% | -96.8% | -121.7% | -159.1% |
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| Current ratio | 11.4 | 11.5 | 11.5 | 5.68 | 4.7 | 3.81 | 5.5 | 5.03 |
| Quick ratio | 11.4 | 11.5 | 11.5 | 5.68 | 4.7 | 3.81 | 5.5 | 5.03 |
| Debt / equity | -0.13 | -0.08 | 0.02 | 0.1 | 0.11 | 0.1 | 0.07 | 0.07 |
| Debt / assets | 0.16 | 0.05 | 0.02 | 0.07 | 0.08 | 0.07 | 0.05 | 0.05 |
| Net debt / EBITDA | 0.92 | 3.07 | 2.9 | 2.19 | 1.11 | 1.14 | 1.19 | 1.08 |
| Interest coverage | -96.4 | -63 | -62.2 | -4.4K | -3.4K | -294.7 | -355.3 | -347.3 |
| Effective tax rate | — | — | 0% | 0% | 0% | 0% | 0% | 0% |
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| Revenue per share | 0.02 | 0.03 | 0.08 | 0.23 | 0.21 | 0.21 | 0.17 | 0.11 |
| EPS (basic) | -0.55 | -0.77 | -1.49 | -1.36 | -1.58 | -1.69 | -1.44 | -1.44 |
| EPS (diluted) | -0.55 | -0.77 | -1.49 | -1.36 | -1.58 | -1.69 | -1.44 | -1 |
| Book value per share | -1.1 | -1.83 | 4.33 | 2.77 | 2.23 | 3.77 | 2.53 | 1.71 |
| FCF per share | -0.54 | -0.46 | -1.58 | -0.69 | -1.44 | -1.37 | -0.85 | -0.67 |
| Cash per share | 0.62 | 2.33 | 4.12 | 3.13 | 1.88 | 2.17 | 1.66 | 1.02 |
| Capex per share | 0.03 | 0.05 | 0.32 | 0.21 | 0.06 | 0.05 | — | — |
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| Capex / revenue | 228.5% | 170.8% | 398% | 93.4% | 27.2% | 23.4% | — | — |
| Capex / operating cash flow | -6.79% | -10.9% | -23% | -43% | -4.01% | -3.76% | — | — |
| Payout ratio | — | — | — | — | — | — | — | 0% |
| — |
| — |
| $10M |
| — |
| FY20 | — | -$0.77 | — | — | $3.4M | — |
| FY19 | — | -$0.55 | — | — | $1.7M | — |
| Q1 24 |
|---|
| Q2 24 |
|---|
| Q3 24 |
|---|
| Q4 24 |
|---|
| Q1 25 |
|---|
| Q2 25 |
|---|
| Q3 25 |
|---|
| Q4 25 |
|---|
| Q1 26 |
|---|
| Q2 26 |
|---|
| Revenue | $10.1M | $10.6M | $13.5M | $14.4M | $26.1M | $4.5M | $14.8M | $19.1M | $5M | $35.4M | $6.3M | $7.3M |
| YoY change | -22.6% | -22.3% | +11.2% | +30.8% | +158.2% | -57.5% | +9.84% | +32.6% | -80.9% | +683.7% | -57.5% | -61.8% |
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 | 69.9M | 262.1M | 516.6M | 549.9M | 391.6M | 594.4M | 743.3M |
| Receivables | 151K | 156K | 34K | 0 | — | — | — |
| Inventory | — | — | — | — | — | — | — |
| Total current assets | 76.4M | 266.4M | 534.7M | 569.8M | 438.1M | 714.3M | 812.8M |
| Property, plant & equipment | 24.4M | 26M | 64.7M | 121.4M | 120.2M | 233.2M | 169.5M |
| Goodwill & intangibles | 0 | 5M | 4.4M | 4.2M | 177M | 969.5M | 944.1M |
| Total assets | 101.4M | 298.6M | 610.3M | 701.3M | 653.7M | 1.4B | 1.5B |
| Accounts payable | 1.3M | 1.1M | 2.8M | 4.6M | 4M | 21.6M | 18.1M |
| Short-term debt | 544K | 1.5M | 1.5M | 6M | 6.2M | 22.2M | 21.8M |
| Total current liabilities | 6.7M | 23.1M | 46.7M | 100.3M | 93.2M | 187.5M | 147.7M |
| Long-term debt | 15.6M | 14.1M | 10M | 45M | 44.5M | 86.3M | 56.2M |
| Total liabilities | 225.7M | 504.9M | 67.4M | 215.5M | 190.3M | 413.8M | 343.3M |
| Shareholders' equity | -124.3M | -206.3M | 542.9M | 485.8M | 463.4M | 1B | 1.1B |
| Total debt | 16.2M | 15.7M | 11.5M | 51M | 50.7M | 108.5M | 78M |
| Net debt | -53.7M | -246.5M | -273.6M | -498.9M | -340.9M | -485.9M | -665.3M |
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 | 387.3M | 391.6M | 296.3M | 474.3M | 427.6M | 594.4M | 500.5M | 525.1M | 659.8M | 743.3M | 654.5M | 545.7M |
| Receivables | — | — | — | — | — | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current assets | 410.5M | 438.1M | 343.6M | 522.4M | 474.2M | 714.3M | 584.1M | 587.2M | 714.1M | 812.8M | 709.6M | 603.5M |
| Property, plant & equipment | 120.3M | 120.2M | 122.2M | 156.3M | 159.2M | 233.2M | 204.8M | 193.6M | 181.2M | 169.5M | 157.3M | 147.1M |
| Goodwill & intangibles | 184.4M | 177M | 170.3M | 180.5M | 172.3M | 969.5M | 987.8M | 1B | 968.8M | 944.1M | 908.5M | 886.5M |
| Total assets | 630.8M | 653.7M | 557.8M | 775.9M | 726.5M | 1.4B | 1.3B | 1.3B | 1.4B | 1.5B | 1.3B | 1.2B |
| Accounts payable | 4.3M | 4M | 5.1M | 3.8M | 2.3M | 21.6M | 25.1M | 19.3M | 13.9M | 18.1M | 20.3M | 12.7M |
| Short-term debt | 6M | 6.2M | 6.1M | 16.7M | 16.5M | 22.2M | 20.4M | 20.5M | 20.4M | 21.8M | 22.4M | 22.7M |
| Total current liabilities | 94.1M | 93.2M | 73.9M | 86.1M | 108.9M | 187.5M | 142M | 164M | 155.1M | 147.7M | 129.7M | 119.9M |
| Long-term debt | 45.4M | 44.5M | 44.9M | 73.2M | 74.2M | 86.3M | 72.5M | 67.6M | 61.9M | 56.2M | 50M | 43.9M |
| Total liabilities | 192.9M | 190.3M | 156.7M | 191.4M | 201.9M | 413.8M | 371.3M | 383.2M | 352.6M | 343.3M | 314.8M | 297.7M |
| Shareholders' equity | 438M | 463.4M | 401.2M | 584.4M | 524.6M | 1B | 933.9M | 919.1M | 1B | 1.1B | 1B | 915M |
| Total debt | 51.5M | 50.7M | 51M | 89.9M | 90.6M | 108.5M | 92.9M | 88.1M | 82.4M | 78M | 72.4M | 66.6M |
| Net debt | -335.8M | -340.9M | -245.4M | -384.5M | -337M | -485.9M | -407.5M | -437M | -577.5M | -665.3M | -582.1M | -479M |
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 | -61.9M | -87M | -186.5M | -239.5M | -328.1M | -463.7M | -644.8M |
| Depreciation & amortization | 2.5M | 3.9M | 8.4M | 11.8M | 24.4M | 36.5M | 83.7M |
| Stock-based compensation | 1.4M | 4.3M | 14.8M | 27.9M | 53.5M | 81.7M | 111.2M |
| Change in working capital | 897K | 24.2M | -13.6M | 105M | -59.7M | -43.3M | -26.4M |
| Operating cash flow | -57.6M | -53.7M | -172.8M | -86.3M | -298.4M | -364.5M | -371.8M |
| Capital expenditure | -3.9M | -5.8M | -39.8M | -37.1M | -12M | -13.7M | — |
| Investing cash flow | -3.9M | -7.8M | -271.7M | 193.5M | -9.6M | 263.4M | -8.2M |
| Dividends paid | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — |
| Financing cash flow | 120.3M | 251.9M | 450.1M | 143.6M | 127.3M | 296M | 517.4M |
| Net change in cash | 58.8M | 190.3M | 5.6M | 250.9M | -180.7M | 194.8M | 137.4M |
| Free cash flow | -61M | -52.1M | -198.4M | -120.9M | -300.3M | -376.2M | -380.4M |
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 | -93M | -93M | -91.4M | -97.5M | -95.8M | -178.9M | -202.5M | -171.9M | -162.3M | -108.1M | -117.5M | -131M |
| Depreciation & amortization | 7.6M | 7.6M | 7.4M | 9M | 7.2M | 13M | 19.3M | 23.8M | 21M | 19.5M | 19.7M | 18.2M |
| Stock-based compensation | 16.8M | 16.1M | 16.1M | 16.5M | 18.3M | 30.8M | 36.1M | 26.2M | 25.2M | 23.8M | 22.2M | 19.5M |
| Change in working capital | -10.7M | -16.4M | -17.3M | -15.9M | -3.2M | -6.8M | -7M | 1.8M | -14.2M | -7M | 9.9M | -25.9M |
| Operating cash flow | -79.2M | -79.2M | -83.3M | -87.8M | -62.2M | -128.3M | -143.6M | -76.4M | -117.4M | -46.1M | -81.1M | -105.9M |
| Capital expenditure | -745K | -2.1M | -6.7M | -1.2M | -4.6M | -1.3M | -1.8M | — | — | — | — | — |
| Investing cash flow | -265K | -2.1M | -6.7M | -1.2M | -4.6M | 275.8M | -7.3M | -500K | -2.3M | 0 | 0 | 0 |
| Dividends paid | — | — | — | — | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — | — | — | — | — |
| Financing cash flow | 50M | 77.4M | 10.8M | 261.5M | 14.7M | 8.9M | 39M | 97.9M | 252.3M | 131.2M | -2.2M | -2.3M |
| Net change in cash | -29.5M | -3.9M | -79.1M | 172.5M | -52.1M | 156.4M | -111.8M | 21M | 132.7M | 85.1M | -83.3M | -108.2M |
| Free cash flow | -73.7M | -76.5M | -109M | -86.4M | -63.8M | -117.1M | -133.8M | -81.7M | -117.6M | -47.3M | -81.4M | -107.9M |