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 | -$0.27 | -$0.26 | +3.7% | — | $0 | — |
| Q1 26 | -$0.35 | -$0.33 | +5.7% | — | $0 | — |
| Q4 25 | -$0.4 | -$0.29 | +27.5% | — | $0 | — |
| Q3 25 | -$0.39 | -$0.4 | -2.6% | — | $0 | — |
| Q2 25 | -$0.5 | -$0.32 | +36.0% | — | $0 | — |
| Q1 25 | -$0.69 | -$0.56 | +18.8% | — | $0 | — |
| Q4 24 | -$0.59 | -$0.5 | +15.3% | — | $0 | — |
| Q3 24 | -$0.4 | -$0.45 | -12.5% | — | $0 | — |
| Q2 24 | -$0.35 | -$0.25 | +28.6% | — | $0 | — |
| Q1 24 | -$0.38 | -$0.23 | +39.5% | — | $0 | — |
| Q4 23 | -$0.58 | -$0.78 | -34.5% | — | $0 | — |
| Q3 23 | -$0.8 | -$0.35 | +56.3% | — | $2M | — |
| Q2 23 | -$0.5 | -$35.8 | -7060.0% | — | $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 | — | -$1.58 | — | — | $0 | — |
| FY24 | — | -$1.45 | — | — | $0 | — |
| FY23 | — | -$2.66 | — | — | $2M | — |
| FY22 | — | -$1.38 | — | — | $0 | — |
| FY21 | — | -$1.1 |
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 | $2M | $0 | $0 |
| YoY change | — | 0% | 0% | 0% | +InfinityT% | -100% | 0% |
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 | 2M | 0 | 0 |
| Cost of revenue | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — |
| Research & development | 8.4M | 8.2M | 19.3M | 24.9M | 19.8M | 38.4M | 39.1M |
| Selling, general & administrative | 5.9M | 3.2M | 4.4M | 6.1M | 13M | 16M | 17.8M |
| Operating expenses | 14.3M | 11.4M | 23.7M | 31.1M | 32.7M | 54.5M | 56.9M |
| Operating income | -14.3M | -11.4M | -23.7M | -31.1M | -30.7M | -54.5M | -56.9M |
| Operating margin | — | — | — | — | -1.5K% | — | — |
| Non-operating income, net | -73K | — | -749K | 3K | 4K | — | — |
| Pretax income | -14.3M | -11.4M | -24.4M | -30.5M | -27.9M | -45.6M | -51M |
| Income tax | — | — | — | — | — | — | — |
| Net income | -14.3M | -11.4M | -24.4M | -30.5M | -27.9M | -45.6M | -51M |
| Net margin | — | — | — | — | -1.4K% | — | — |
| EBITDA | -14.1M | -11.4M | -23M | -31.1M | -30.7M | -54.5M | -56.9M |
| EPS | -0.64 | -0.51 | -1.1 | -1.38 | -2.66 | -1.45 | -1.58 |
| Diluted EPS | -0.64 | -0.51 | -1.1 | -1.38 | -2.66 | -1.45 | -1.58 |
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 | 2M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cost of revenue | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — | — | — | — | — | — |
| Research & development | 5M | 5.7M | 5.3M | 6.3M | 12.7M | 14.2M | 15.3M | 7.2M | 9.7M | 6.7M | 7M | 11.5M |
| Selling, general & administrative | 4.5M | 3.8M | 3.5M | 4.3M | 4.2M | 4M | 4.5M | 4.7M | 4.6M | 4M | 4.7M | 4.3M |
| Operating expenses | 9.5M | 9.5M | 8.8M | 10.6M | 16.9M | 18.2M | 19.9M | 11.9M | 14.3M | 10.8M | 11.7M | 15.8M |
| Operating income | -7.5M | -9.5M | -8.8M | -10.6M | -16.9M | -18.2M | -19.9M | -11.9M | -14.3M | -10.8M | -11.7M | -15.8M |
| Operating margin | -372.6% | — | — | — | — | — | — | — | — | — | — | — |
| Non-operating income, net | 4K | 1K | — | — | — | — | — | — | — | — | — | — |
| Pretax income | -6.4M | -8.2M | -6.6M | -8.1M | -14.6M | -16.2M | -18.2M | -10.4M | -12.9M | -9.6M | -10.7M | -14M |
| Income tax | — | — | — | — | — | — | — | — | — | — | — | — |
| Net income | -6.4M | -8.2M | -6.6M | -8.1M | -14.6M | -16.2M | -18.2M | -10.4M | -12.9M | -9.6M | -10.7M | -14M |
| Net margin | -317.6% | — | — | — | — | — | — | — | — | — | — | — |
| EBITDA | -7.5M | -9.5M | -8.8M | -10.6M | -16.9M | -18.2M | -19.9M | -11.9M | -14.3M | -10.8M | -11.7M | -15.8M |
| EPS | -0.35 | — | -0.23 | -0.25 | -0.45 | -0.5 | -0.56 | -0.32 | -0.4 | -0.29 | -0.33 | -0.26 |
| Diluted EPS | -0.35 | — | -0.23 | -0.25 | -0.45 | -0.5 | -0.56 | -0.32 | -0.4 | -0.29 | -0.33 | -0.26 |
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 | — | — | — | — | — | — | 191.5M | 617.9M |
| Enterprise value | — | — | — | — | — | — | 78.4M | 336.2M |
| Shares outstanding | 22.2M | 22.2M | 22.2M | 22.2M | 10.5M | 31.4M | 32.3M | 32.3M |
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| P/E | — | — | — | — | — | — | — | -6.29 |
| P/B | — | — | — | — | — | — | 1.72 | 2.4 |
| EV/EBITDA | — | — | — | — | — | — | -1.38 | -5.91 |
| Earnings yield | — | — | — | — | — | — | — | -15.9% |
| FCF yield | — | — | — | — | — | — | -23.8% | -4.5% |
| PEG | — | — | — | — | — | — | — | 0.34 |
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| Operating margin | — | — | — | — | -1.5K% | — | — | 0% |
| Net margin | — | — | — | — | -1.4K% | — | — | 0% |
| ROE | 11.4% | 8.37% | 15.4% | 16.3% | -30.6% | -29.2% | -45.8% | -24.4% |
| ROA | -127.8% | -16.5% | -41.4% | -92.3% | -28.8% | -28.4% | -43.8% | -16.4% |
| Return on tangible assets | -127.8% | -16.5% | -41.4% | -92.3% | -28.8% | -28.4% | -43.8% | -17.9% |
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| Current ratio | 5.21 | 36 | 24 | 6.21 | 17.1 | 34.3 | 22.8 | 45 |
| Quick ratio | 5.21 | 36 | 24 | 6.21 | 17.1 | 34.3 | 22.8 | 45 |
| Debt / equity | -0 | -0 | -0 | -0 | 0 | 0 | 0 | 0.01 |
| Debt / assets | 0.03 | 0 | 0.01 | 0.01 | 0 | 0 | 0 | 0.01 |
| Net debt / EBITDA | 0.7 | 6.02 | 2.45 | 1.03 | 3.08 | 2.78 | 1.99 | 4.53 |
| Interest coverage | -221.8 | — | — | — | — | — | — | — |
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| Revenue per share | 0 | 0 | 0 | 0 | 0.19 | 0 | 0 | 0 |
| EPS (basic) | -0.64 | -0.51 | -1.1 | -1.38 | -2.66 | -1.45 | -1.58 | -1.58 |
| EPS (diluted) | -0.64 | -0.51 | -1.1 | -1.38 | -2.66 | -1.45 | -1.58 | -1.26 |
| Book value per share | -5.65 | -6.13 | -7.14 | -8.43 | 8.71 | 4.97 | 3.44 | 4.15 |
| FCF per share | -0.48 | -0.47 | -0.98 | -1.1 | -2.27 | -1.35 | -1.41 | -0.79 |
| Cash per share | 0.46 | 3.1 | 2.56 | 1.46 | 9.07 | 4.82 | 3.5 | 3.86 |
| Capex per share | 0 | 0 | — | — | — | — | — | — |
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| Capex / operating cash flow | 0% | -0.19% | — | — | — | — | — | — |
| Payout ratio | — | — | — | — | — | — | — | 0% |
| — |
| — |
| $0 |
| — |
| FY20 | — | -$0.51 | — | — | $0 | — |
| FY19 | — | -$0.64 | — | — | $0 | — |
| Q2 24 |
|---|
| Q3 24 |
|---|
| Q4 24 |
|---|
| Q1 25 |
|---|
| Q2 25 |
|---|
| Q3 25 |
|---|
| Q4 25 |
|---|
| Q1 26 |
|---|
| Q2 26 |
|---|
| Revenue | $2M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| YoY change | +InfinityT% | 0% | 0% | 0% | -100% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
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 | 10.2M | 68.7M | 56.7M | 32.3M | 94.9M | 151.3M | 113.1M |
| Receivables | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — |
| Total current assets | 10.8M | 68.7M | 58.7M | 32.8M | 96.6M | 152.8M | 116.4M |
| Property, plant & equipment | 318K | 194K | 342K | 212K | 73K | 77K | 78K |
| Goodwill & intangibles | — | — | — | — | — | — | — |
| Total assets | 11.2M | 69M | 59M | 33M | 96.7M | 160.3M | 116.5M |
| Accounts payable | 1.2M | 513K | 761K | 1.1M | 186K | 1.4M | 1.3M |
| Short-term debt | 130K | 145K | 124K | 133K | 65K | 78K | 78K |
| Total current liabilities | 2.1M | 1.9M | 2.4M | 5.3M | 5.7M | 4.5M | 5.1M |
| Long-term debt | 211K | 65K | 224K | 78K | 0 | — | — |
| Total liabilities | 136.5M | 204.9M | 217.3M | 220M | 5.7M | 4.5M | 5.1M |
| Shareholders' equity | -125.3M | -135.9M | -158.3M | -186.9M | 91.1M | 155.8M | 111.4M |
| Total debt | 341K | 210K | 348K | 211K | 65K | 78K | 78K |
| Net debt | -9.9M | -68.5M | -56.4M | 53K | -75.1M | -75.8M | -34.9M |
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 | 101.8M | 94.9M | 193.7M | 166.4M | 152.5M | 151.3M | 144.6M | 125.4M | 116.7M | 113.1M | 104.5M | 240.1M |
| Receivables | — | — | — | — | — | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current assets | 102.8M | 96.6M | 194.5M | 166.8M | 157.2M | 152.8M | 146.1M | 127.2M | 119.5M | 116.4M | 107.7M | 244M |
| Property, plant & equipment | 109K | 73K | 37K | 151K | 114K | 77K | 38K | 152K | 115K | 78K | 39K | 2M |
| Goodwill & intangibles | — | — | — | — | — | — | — | — | — | — | — | — |
| Total assets | 102.9M | 96.7M | 194.5M | 189M | 174.8M | 160.3M | 146.2M | 137.4M | 128.4M | 116.5M | 107.8M | 263.4M |
| Accounts payable | 1.7M | 186K | 531K | 2M | 1.2M | 1.4M | 3.2M | 1.9M | 4.2M | 1.3M | 2.3M | 1.1M |
| Short-term debt | 103K | 65K | 26K | 153K | 116K | 78K | 39K | 152K | 115K | 78K | 39K | 84K |
| Total current liabilities | 5M | 5.7M | 4.5M | 5.7M | 4.1M | 4.5M | 7.2M | 7.2M | 9.1M | 5.1M | 5.3M | 5.4M |
| Long-term debt | 0 | 0 | — | — | — | — | — | — | — | — | — | 1.9M |
| Total liabilities | 5M | 5.7M | 4.5M | 5.7M | 4.1M | 4.5M | 7.2M | 7.2M | 9.1M | 5.1M | 5.3M | 7.3M |
| Shareholders' equity | 97.9M | 91.1M | 190M | 183.3M | 170.7M | 155.8M | 139M | 130.2M | 119.3M | 111.4M | 102.5M | 256.2M |
| Total debt | 103K | 65K | 26K | 153K | 116K | 78K | 39K | 152K | 115K | 78K | 39K | 1.9M |
| Net debt | -101.7M | -75.1M | -176.8M | -95.8M | -76.9M | -75.8M | -64.7M | -42.2M | -32.4M | -34.9M | -36.6M | -164M |
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 | -14.3M | -11.4M | -24.4M | -30.5M | -27.9M | -45.6M | -51M |
| Depreciation & amortization | 1K | 0 | — | — | — | — | — |
| Stock-based compensation | 3M | 775K | 1.9M | 1.9M | 5M | 5.3M | 6.4M |
| Change in working capital | -64K | -131K | -144K | -137K | -146K | -136K | -152K |
| Operating cash flow | -11.2M | -10.6M | -22.5M | -28.6M | -22.9M | -40.3M | -45.6M |
| Capital expenditure | 0 | 20K | — | — | — | — | — |
| Investing cash flow | -27K | 20K | 0 | -32M | 12.6M | -61.7M | 4.6M |
| Dividends paid | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — |
| Financing cash flow | 18.5M | 68.9M | 9.6M | -85K | 86.2M | 104.7M | 0 |
| Net change in cash | 7.2M | 58.3M | -13M | -60.7M | 75.8M | 2.8M | -41.1M |
| Free cash flow | -10.6M | -10.4M | -21.7M | -24.5M | -23.8M | -42.4M | -45.6M |
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 | 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 | -6.4M | -8.2M | -6.6M | -8.1M | -14.6M | -16.2M | -18.2M | -10.4M | -12.9M | -9.6M | -10.7M | -14M |
| Depreciation & amortization | — | — | — | — | — | — | — | — | — | — | — | — |
| Stock-based compensation | 1.9M | 1.3M | 759K | 1.4M | 1.5M | 1.5M | 1.5M | 1.6M | 1.7M | 1.7M | 1.8M | 3.7M |
| Change in working capital | -37K | -38K | -39K | -22K | -37K | -38K | -39K | -39K | -37K | -37K | -39K | -39K |
| Operating cash flow | -4.5M | -6.8M | -5.9M | -6.7M | -13.1M | -14.7M | -16.7M | -9.1M | -10.2M | -11.8M | -8.6M | -11.1M |
| Capital expenditure | — | — | — | — | — | — | — | — | — | — | — | — |
| Investing cash flow | 0 | -19.6M | 3M | -75.2M | 624K | 9.8M | 3.4M | -13.3M | 75K | 14.4M | 10.2M | -24M |
| Dividends paid | — | — | — | — | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — | — | — | — | — |
| Financing cash flow | 86.2M | 3.5M | 104.7M | -27K | 0 | 0 | 0 | 0 | 0 | 0 | — | — |
| Net change in cash | 81.7M | -22.9M | 101.9M | -81.8M | -12.4M | -4.8M | -13.3M | -22.4M | -10.1M | 2.5M | 1.6M | -35.1M |
| Free cash flow | -3.9M | -7.1M | -6.2M | -5.6M | -19.6M | -11M | -14.5M | -9.1M | -10.2M | -11.8M | -8.6M | -11.1M |