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 % |
|---|---|---|---|---|---|---|
| Q1 26 | -$0.07 | -$0.08 | -14.3% | — | $1.4M | — |
| Q4 25 | -$0.05 | -$0.07 | -40.0% | — | $14.2M | — |
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 | — | -$0.44 | — | — | $39.6M | — |
| FY24 | — | -$0.49 | — | — | $57.8M | — |
| FY23 | — | -$1.48 | — | — | $176.2M | — |
| FY22 | — | -$1.25 | — | — | $111.3M | — |
| FY21 | — | -$1.23 | — | — | $110.7M | — |
| FY20 | — | -$0.9 | — | — | $118.2M | — |
Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.
| Period | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|
| Revenue | $118.2M | $110.7M | $111.3M | $176.2M | $57.8M | $39.6M |
| YoY change | — | -6.34% | +0.54% | +58.3% | -67.2% | -31.6% |
Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.
| Period | Q4 24 | Q1 25 | Q2 25 | Q3 25 | Q4 25 | Q1 26 |
|---|---|---|---|---|---|---|
| Revenue |
Revenue, gross profit, operating income, and net income per period.
Click a row to chart it; unreported figures show a dash.
| Period | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|
| Revenue | 118.2M | 110.7M | 111.3M | 176.2M | 57.8M | 39.6M |
| Cost of revenue | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — |
| Research & development | 180.6M | 230.8M | 249.9M | 234.1M | 111.5M | 112.7M |
| Selling, general & administrative | 67.1M | 63.2M | 62.7M | 61.2M | 44.7M | 34.9M |
| Operating expenses | 247.7M | 294M | 312.6M | 295.2M | 156.2M | 147.6M |
| Operating income | -129.6M | -183.3M | -201.3M | -119M | -98.4M | -108M |
| Operating margin | -109.6% | -165.6% | -180.8% | -67.5% | -170.3% | -273.1% |
| Non-operating income, net | — | — | — | -155M | -5.5M | -16.8M |
| Pretax income | -120.8M | -178M | -191.8M | -262.9M | -98.1M | -123.5M |
| Income tax | 345K | 306K | 429K | -5.1M | -167K | -568K |
| Net income | -121.1M | -178.3M | -192.3M | -257.8M | -97.9M | -122.9M |
| Net margin | -102.5% | -161.1% | -172.8% | -146.3% | -169.4% | -310.8% |
| EBITDA | -116.2M | -165.7M | -180.7M | 58.2M | -83.6M | -87.2M |
| EPS | -0.9 | -1.23 | -1.25 | -1.48 | -0.49 | -0.44 |
| Diluted EPS | -0.9 | -1.23 | -1.25 | -1.48 | -0.49 | -0.44 |
Revenue, gross profit, operating income, and net income per period.
Click a row to chart it; unreported figures show a dash.
| Period | Q4 24 | Q1 25 | Q2 25 | Q3 25 | Q4 25 | Q1 26 |
|---|---|---|---|---|---|---|
| Revenue | 7.6M | 6.4M | 18.3M | 581K | 14.2M | 1.4M |
| Cost of revenue | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — |
| Research & development | 23.7M | 26M | 27.1M | 28.1M | 31.4M | 26.6M |
| Selling, general & administrative | 9.9M | 10.1M | 9.1M | 8M | 7.8M | 6.8M |
| Operating expenses | 33.5M | 36.1M | 36.2M | 36.1M | 39.2M | 33.4M |
| Operating income | -26M | -29.6M | -17.9M | -35.6M | -25M | -31.9M |
| Operating margin | -344.2% | -460.3% | -97.5% | -6.1K% | -175.5% | -2.2K% |
| Non-operating income, net | 0 | -1.2M | -2.5M | 107K | -13.3M | 651K |
| Pretax income | -23.8M | -30.5M | -20M | -35.1M | -38M | -31M |
| Income tax | -427K | 119K | 27K | -161K | -553K | 0 |
| Net income | -23.4M | -30.6M | -20M | -34.9M | -37.4M | -31M |
| Net margin | -309.8% | -475.3% | -109.2% | -6K% | -263% | -2.1K% |
| EBITDA | -23.9M | -27.7M | -16M | -33.7M | -9.8M | -31.1M |
| EPS | -0.11 | -0.14 | -0.08 | -0.11 | -0.11 | -0.08 |
| Diluted EPS | -0.11 | -0.14 | -0.08 | -0.11 | -0.11 | -0.08 |
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 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| Market cap | — | — | — | — | — | — | 30.7M |
| Enterprise value | — | — | — | — | — | — | 10.4M |
| Shares outstanding | 134.4M | 144.6M | 154.3M | 174.4M | 201.7M | 280.2M | 280.2M |
| Metric | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| P/E | — | — | — | — | — | — | -0.17 |
| P/S | — | — | — | — | — | — | 0.89 |
| P/B | — | — | — | — | — | — | -1.52 |
| EV/EBITDA | — | — | — | — | — | — | -0.1 |
| EV/Sales | — | — | — | — | — | — | 0.3 |
| Earnings yield | — | — | — | — | — | — | -594.6% |
| FCF yield | — | — | — | — | — | — | -158.4% |
| PEG | — | — | — | — | — | — | 0 |
| Metric | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| Operating margin | -109.6% | -165.6% | -180.8% | -67.5% | -170.3% | -273.1% | -2.2K% |
| Net margin | -102.5% | -161.1% | -172.8% | -146.3% | -169.4% | -310.8% | 0% |
| ROE | -24.4% | -47.5% | -65.2% | -311.1% | -430.1% | 861.6% | 861.6% |
| ROA | -12.9% | -24.7% | -34.2% | -156% | -96.4% | -205.8% | -94.4% |
| ROIC | 127% | -391.1% | -333.1% | -297.6% | -862.2% | 1.3K% | 405.5% |
| Return on tangible assets | -16.4% | -33.3% | -49.8% | -156% | -96.4% | -205.8% | -205.7% |
| Metric | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| Current ratio | 4.6 | 3.12 | 2.69 | 1.98 | 1.13 | 0.84 | 0.7 |
| Quick ratio | 4.6 | 3.12 | 2.69 | 1.98 | 1.13 | 0.84 | 0.7 |
| Debt / equity | 0.08 | 0.13 | 0.15 | 0.46 | 1.34 | -1.88 | -0.01 |
| Debt / assets | 0.04 | 0.07 | 0.08 | 0.23 | 0.3 | 0.45 | 0.32 |
| Net debt / EBITDA | 5.16 | 1.98 | 1.3 | -0.74 | 0.14 | -0.07 | 0.09 |
| Effective tax rate | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Metric | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| Revenue per share | 0.88 | 0.77 | 0.72 | 1.01 | 0.29 | 0.14 | 0.11 |
| EPS (basic) | -0.9 | -1.23 | -1.25 | -1.48 | -0.49 | -0.44 | -0.44 |
| EPS (diluted) | -0.9 | -1.23 | -1.25 | -1.48 | -0.49 | -0.44 | -0.38 |
| Book value per share | 3.7 | 2.6 | 1.91 | 0.48 | 0.11 | -0.05 | -0.05 |
| FCF per share | 1.15 | -1.77 | -1.58 | -1.41 | -0.33 | -0.35 | -0.23 |
| Cash per share | 4.77 | 2.6 | 1.8 | 0.46 | 0.21 | 0.07 | 0.07 |
| Capex per share | 0.11 | 0.16 | 0.13 | 0.12 | 0 | 0 | 0 |
| Metric | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| Capex / revenue | 12.4% | 21% | 18.1% | 12% | 0.46% | 0.26% | 0.33% |
| Capex / operating cash flow | 8.64% | -10.5% | -8.74% | -5.43% | -0.33% | -0.09% | -0.11% |
| Payout ratio | — | — | — | — | — | — | 0% |
| $7.6M |
| $6.4M |
| $18.3M |
| $581K |
| $14.2M |
| $1.4M |
| YoY change | — | — | — | — | +88.4% | -77.6% |
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 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|
| Cash & short-term investments | 641.4M | 376.5M | 277.6M | 81M | 41.9M | 20.9M |
| Receivables | 5.2M | 6M | 3.7M | 923K | 526K | 371K |
| Inventory | — | — | — | — | — | — |
| Total current assets | 659.7M | 398.8M | 300.3M | 94.3M | 51.7M | 35.8M |
| Property, plant & equipment | 112.4M | 124.7M | 125.5M | 52.9M | 34.8M | 10.6M |
| Goodwill & intangibles | 201.9M | 186.9M | 176.6M | 0 | — | — |
| Total assets | 938.5M | 721.9M | 562.5M | 165.3M | 101.6M | 59.7M |
| Accounts payable | 12.6M | 9.8M | 22.4M | 15.3M | 15.5M | 14.4M |
| Short-term debt | 3.7M | 4M | 4.1M | 4.6M | 4.3M | 1.7M |
| Total current liabilities | 143.5M | 127.9M | 111.7M | 47.7M | 45.8M | 42.5M |
| Long-term debt | 38.4M | 44.1M | 39M | 33.5M | 26.3M | 25.1M |
| Total liabilities | 441.2M | 346.6M | 267.6M | 82.4M | 78.9M | 74M |
| Shareholders' equity | 497.4M | 375.3M | 295M | 82.9M | 22.8M | -14.3M |
| Total debt | 42.1M | 48.1M | 43.1M | 38.1M | 30.6M | 26.8M |
| Net debt | -89.2M | -130.8M | -57.3M | -7.1M | -11.4M | 5.8M |
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 | Q4 24 | Q1 25 | Q2 25 | Q3 25 | Q4 25 | Q1 26 |
|---|---|---|---|---|---|---|
| Cash & short-term investments | 41.9M | 25.2M | 38.3M | 29.6M | 20.9M | 27.6M |
| Receivables | 526K | 366K | 372K | 523K | 371K | 873K |
| Inventory | — | — | — | — | — | — |
| Total current assets | 51.7M | 37.6M | 49.9M | 44.1M | 35.8M | 37.1M |
| Property, plant & equipment | 34.8M | 32.8M | 30.8M | 29.2M | 14.1M | 13.2M |
| Goodwill & intangibles | — | — | — | — | — | — |
| Total assets | 101.6M | 86.2M | 97.6M | 88.6M | 59.7M | 60M |
| Accounts payable | 15.5M | 18.2M | 10.7M | 15.6M | 14.4M | 19.3M |
| Short-term debt | 4.3M | — | — | — | 1.7M | — |
| Total current liabilities | 45.8M | 49.6M | 47.7M | 50.1M | 42.5M | 53.1M |
| Long-term debt | 26.3M | 24.9M | 23.5M | 25.4M | 25.1M | 19.3M |
| Total liabilities | 78.9M | 81.3M | 78M | 82.4M | 74M | 78.9M |
| Shareholders' equity | 22.8M | 4.9M | 19.6M | 6.2M | -14.3M | -19M |
| Total debt | 30.6M | 24.9M | 23.5M | 25.4M | 26.8M | 19.3M |
| Net debt | -11.4M | -304K | -14.9M | -4.2M | 5.8M | -8.3M |
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 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|
| Net income | -121.1M | -178.3M | -192.3M | -257.8M | -97.9M | -122.9M |
| Depreciation & amortization | 13.4M | 17.6M | 20.6M | 22.2M | 9.4M | 7.6M |
| Stock-based compensation | 25.7M | 33M | 31.6M | 27.4M | 12.4M | 9.1M |
| Change in working capital | 252.3M | -87.1M | -90.8M | -175.8M | -5.6M | -8.1M |
| Operating cash flow | 170.2M | -221.3M | -230.8M | -389.2M | -81.5M | -114.3M |
| Capital expenditure | -14.7M | -23.3M | -20.2M | -21.2M | -267K | -102K |
| Investing cash flow | -271.6M | 248.2M | 59.3M | 153.5M | 37.5M | -102K |
| Dividends paid | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — |
| Financing cash flow | 141.8M | 23.8M | 82.8M | 13.7M | 28.1M | 70.4M |
| Net change in cash | 40.4M | 50.8M | -88.8M | -222.1M | -15.9M | -44M |
| Free cash flow | 155.2M | -256.5M | -243.8M | -246M | -67.4M | -97.3M |
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 | Q4 24 | Q1 25 | Q2 25 | Q3 25 | Q4 25 | Q1 26 |
|---|---|---|---|---|---|---|
| Net income | -23.4M | -30.6M | -20M | -34.9M | -37.4M | -31M |
| Depreciation & amortization | 2.1M | 1.9M | 1.9M | 1.9M | 1.9M | 877K |
| Stock-based compensation | 3.3M | 2.6M | 2.2M | 2.1M | 2.1M | 992K |
| Change in working capital | 13.7M | 3.1M | -1M | -1.5M | -2.2M | 8M |
| Operating cash flow | -4M | -22.9M | -16.8M | -32.4M | -35.6M | -21.1M |
| Capital expenditure | -152K | — | -24K | -64K | -14K | -13K |
| Investing cash flow | 1.3M | 0 | -24K | -64K | -14K | -13K |
| Dividends paid | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — |
| Financing cash flow | 6.8M | 8.1M | 28.4M | 19.2M | 14.6M | 26.7M |
| Net change in cash | 4.2M | -14.8M | 11.6M | -13.2M | -21M | 5.6M |
| Free cash flow | -3.5M | -26.1M | -18.2M | -28.6M | -24.4M | -19.3M |