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 | -$0.47 | -$0.38 | +19.1% | — | $0 | — |
| Q4 25 | -$0.52 | -$0.53 | -1.9% | — | $0 | — |
| Q3 25 | -$0.44 | -$0.48 | -9.1% | — | $0 | — |
| Q2 25 | -$0.49 | -$0.42 | +14.3% | — | — | — |
| Q1 25 | -$0.54 | -$0.59 | -9.3% | — | — | — |
| Q4 24 | -$0.78 | -$1 | -28.2% | — | $0 | — |
| Q3 24 | -$0.66 | -$0.79 | -19.7% | — | — | — |
| Q2 24 | -$0.66 | -$0.61 | +7.6% | — | — | — |
| Q1 24 | -$0.6 | -$0.64 | -6.7% | — | — | — |
| Q4 23 | -$1 | -$1 | 0.0% | — | $0 | — |
| Q3 23 | -$1.19 | -$1.05 | +11.8% | — | — | — |
| Q2 23 | -$1.53 | -$1.25 | +18.3% | — | $0 | — |
| Q1 23 | -$1.25 | -$1.54 | -23.2% | — | $0 | — |
| Q4 22 | -$1.25 | -$0.04 | +96.8% | — | $0 | — |
| Q3 22 | -$1.64 | -$2.71 | -65.2% | — | $0 | — |
| Q2 22 | -$2.92 | -$3.13 | -7.2% | — | $6.2M | — |
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 | — | -$1.99 | — | — | $0 | — |
| FY24 | — | -$3.06 | — | — | $0 | — |
| FY23 | — | -$4.83 | — | — | $0 | — |
| FY22 | — | -$10.1 | — | — | $8.1M |
Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.
| Period | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 | $0 | $13.6M | $8.1M | $0 | $0 | $0 |
| YoY change | 0% | 0% | 0% | 0% | 0% | +InfinityT% | -40.6% | -100% | 0% | 0% |
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 | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | 0 | 0 | 13.6M | 8.1M | 0 | 0 | 0 |
| Cost of revenue | — | — | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — | — | — | — |
| Research & development | 20.1M | 39.9M | 58M | 94.7M | 64.9M | 58.7M | 78.4M | 76.6M | 96.4M | 140.3M |
| Selling, general & administrative | 5.5M | 15M | 17.7M | 24.6M | 21.6M | 27.1M | 28.9M | 27.8M | 33.3M | 38.9M |
| Operating expenses | 25.6M | 54.9M | 75.7M | 119.3M | 86.5M | 85.9M | 107.4M | 104.3M | 129.7M | 179.2M |
| Operating income | -25.6M | -54.9M | -75.7M | -119.3M | -86.5M | -72.3M | -99.3M | -104.3M | -129.7M | -179.2M |
| Operating margin | — | — | — | — | — | -530.5% | -1.2K% | — | — | — |
| Non-operating income, net | 1.4M | 1.5M | 270K | 515K | -1.9M | 2K | 10.7M | 1.2M | -4.1M | -5.2M |
| Pretax income | -23.8M | -53.2M | -74.8M | -117.2M | -88.3M | -72.2M | -86M | -96M | -124.7M | -174.3M |
| Income tax | — | — | — | — | — | — | — | — | — | — |
| Net income | -23.8M | -53.2M | -74.8M | -117.2M | -88.3M | -72.2M | -86M | -96M | -124.7M | -174.3M |
| Net margin | — | — | — | — | — | -530% | -1.1K% | — | — | — |
| EBITDA | -25.5M | -54.4M | -74.4M | -116.5M | -80.6M | -69.3M | -107.9M | -101.8M | -117.2M | -171.5M |
| EPS | -13.4 | -18.3 | -33.8 | -43.6 | -25.5 | -10.1 | -10.1 | -4.83 | -3.06 | -1.99 |
| Diluted EPS | -13.4 | -18.3 | -33.8 | -43.6 | -25.5 | -10.1 | -10.1 | -4.83 | -3.06 | -1.99 |
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 | 0 | 0 | 0 |
| Cost of revenue | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — | — | — | — | — | — |
| Research & development | — | 15.5M | — | — | — | 30.8M | — | — | 38.9M | 38.1M | 46.1M | 44.3M |
| Selling, general & administrative | — | 6.8M | — | — | — | 9.1M | — | — | 9.2M | 11.3M | 11.2M | 13.1M |
| Operating expenses | — | 22.3M | — | — | — | 39.9M | — | — | 48.1M | 49.4M | 57.3M | 57.4M |
| Operating income | — | -22.3M | — | — | — | -39.9M | — | — | -48.1M | -49.4M | -57.3M | -57.4M |
| Operating margin | — | — | — | — | — | — | — | — | — | — | — | — |
| Non-operating income, net | — | 270K | — | — | — | -4.6M | — | — | -640K | -2.4M | -1.5M | -636K |
| Pretax income | — | -20.3M | — | — | — | -42.6M | — | — | -45.8M | -49.8M | -56.7M | -54.8M |
| Income tax | — | — | — | — | — | — | — | — | — | — | — | — |
| Net income | — | -20.3M | — | — | — | -42.6M | — | — | -45.8M | -49.8M | -56.7M | -54.8M |
| Net margin | — | — | — | — | — | — | — | — | — | — | — | — |
| EBITDA | — | -22.1M | — | — | — | -37.3M | — | — | -46.8M | -46.3M | -54.7M | -53.6M |
| EPS | -1.05 | — | -0.64 | -0.61 | -0.79 | — | -0.59 | -0.42 | -0.48 | — | -0.52 | -0.38 |
| Diluted EPS | -1.05 | — | -0.64 | -0.61 | -0.79 | — | -0.59 | -0.42 | -0.48 | — | -0.52 | -0.38 |
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 | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market cap | — | — | 891.4M | — | — | — | — | — | — | — | 780.6M |
| Enterprise value | — | — | 770M | — | — | — | — | — | — | — | 423.1M |
| Shares outstanding | 1.3M | 2.1M | 2.2M | 2.7M | 3.5M | 7.1M | 8.5M | 19.9M | 40.8M | 87.5M | 87.5M |
| Metric | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E | — | — | — | — | — | — | — | — | — | — | 0.15 |
| P/B | — | — | 7.12 | — | — | — | — | — | — | — | 2.05 |
| EV/EBITDA | — | — | -10.4 | — | — | — | — | — | — | — | -2.01 |
| Earnings yield | — | — | — | — | — | — | — | — | — | — | 656.4% |
| FCF yield | — | — | -8.75% | — | — | — | — | — | — | — | -15.1% |
| PEG | — | — | — | — | — | — | — | — | — | — | -0.02 |
| Metric | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating margin | — | — | — | — | — | -530.5% | -1.2K% | — | — | — | 0% |
| Net margin | — | — | — | — | — | -530% | -1.1K% | — | — | — | 0% |
| ROE | 62.7% | 89.7% | -59.8% | -146.4% | -66.8% | -34.7% | -40.6% | -75.9% | -90.9% | -96.8% | -65.5% |
| ROA | -58.5% | -69.8% | -53.6% | -113.3% | -51.6% | -31.1% | -33% | -58.2% | -66.1% | -75% | -36.4% |
| Return on tangible assets | -58.5% | -69.8% | -53.6% | -113.3% | -51.6% | -31.1% | -33% | -58.2% | -66.1% | -75% | -49.2% |
| Metric | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current ratio | 5.82 | 6.27 | 10.3 | 4.72 | 6.49 | 9.43 | 9.76 | 8.94 | 5.2 | 6.14 | 13.8 |
| Quick ratio | 5.82 | 6.27 | 10.3 | 4.72 | 6.49 | 9.43 | 9.76 | 8.94 | 5.2 | 6.14 | 13.8 |
| Debt / equity | — | 0 | 0.01 | 0.09 | 0.04 | 0.01 | 0.13 | 0.21 | 0.18 | 0.12 | 0.05 |
| Debt / assets | — | 0 | 0.01 | 0.07 | 0.03 | 0.01 | 0.11 | 0.16 | 0.13 | 0.09 | 0.05 |
| Net debt / EBITDA | — | 1.27 | 1.63 | 0.66 | 1.86 | 2.97 | 1.72 | 0.96 | 1.06 | 0.97 | 1.78 |
| Interest coverage | — | — | — | — | — | — | — | — | -365.8 | — | — |
| Metric | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue per share | 0 | 0 | 0 | 0 | 0 | 1.91 | 0.95 | 0 | 0 | 0 | 0 |
| EPS (basic) | -13.4 | -18.3 | -33.8 | -43.6 | -25.5 | -10.1 | -10.1 | -4.83 | -3.06 | -1.99 | -1.99 |
| EPS (diluted) | -13.4 | -18.3 | -33.8 | -43.6 | -25.5 | -10.1 | -10.1 | -4.83 | -3.06 | -1.99 | -1.89 |
| Book value per share | -29.5 | -27.6 | 56.5 | 29.8 | 38.1 | 29.3 | 24.9 | 6.36 | 3.36 | 2.06 | 3.56 |
| FCF per share | -16 | -21.2 | -35.2 | -36.2 | -16.6 | -11.1 | -11.9 | -4.81 | -2.47 | -1.8 | -1.31 |
| Cash per share | 29.4 | 32.2 | 55.2 | 31.1 | 44.7 | 29.2 | 25.1 | 6.22 | 3.65 | 2.15 | 3.52 |
| Capex per share | 0.31 | 1.06 | 3.51 | 1.63 | 0.26 | 0.18 | 0.28 | 0.08 | 0.02 | — | — |
| Metric | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Capex / revenue | — | — | — | — | — | 9.41% | 29.8% | — | — | — | — |
| Capex / operating cash flow | -1.85% | -4.92% | -11.4% | -4.55% | -2.59% | -1.9% | -2.24% | -1.75% | -0.63% | — | — |
| Payout ratio | — | — | — | — | — | — | — | — | — | — | 0% |
| — |
| FY21 | — | -$10.1 | — | — | $13.6M | — |
| FY20 | — | -$25.5 | — | — | $0 | — |
| FY19 | — | -$43.6 | — | — | $0 | — |
| FY18 | — | -$33.8 | — | — | $0 | — |
| FY17 | — | -$18.3 | — | — | $0 | — |
| FY16 | — | -$13.4 | — | — | $0 | — |
| 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 | $0 | $0 | $0 |
| YoY change | — | 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 | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & short-term investments | 37.7M | 69.1M | 122.5M | 83.5M | 154.7M | 207.8M | 213.7M | 123.6M | 148.9M | 187.8M |
| Receivables | — | — | — | — | 0 | 110K | 0 | — | — | — |
| Inventory | — | — | — | — | — | — | — | — | — | — |
| Total current assets | 40M | 70.7M | 128.6M | 86.3M | 158.9M | 222.6M | 219.6M | 129.7M | 157.3M | 205.5M |
| Property, plant & equipment | 452K | 2.4M | 10.4M | 16.6M | 11.7M | 7.6M | 38.6M | 33.2M | 29M | 26.1M |
| Goodwill & intangibles | — | — | — | — | — | — | — | — | — | — |
| Total assets | 40.6M | 76.2M | 139.6M | 103.5M | 171.2M | 232.4M | 260.3M | 164.9M | 188.7M | 232.5M |
| Accounts payable | 3M | 5.1M | 3.7M | 7.1M | 3.3M | 4.5M | 3.2M | 2M | 4.2M | 3.2M |
| Short-term debt | — | — | 173K | 1.9M | 2.2M | 1.5M | 2.6M | 2.3M | 3M | 2.1M |
| Total current liabilities | 6.9M | 11.3M | 12.5M | 18.3M | 24.5M | 23.6M | 22.5M | 14.5M | 30.3M | 33.5M |
| Long-term debt | — | 0 | 859K | 5.1M | 2.9M | 568K | 26M | 23.9M | 21.2M | 19.1M |
| Total liabilities | 78.5M | 135.4M | 14.4M | 23.4M | 39.1M | 24.2M | 48.6M | 38.5M | 51.4M | 52.5M |
| Shareholders' equity | -37.9M | -59.3M | 125.2M | 80M | 132.1M | 208.2M | 211.7M | 126.5M | 137.2M | 180M |
| Total debt | — | 0 | 1M | 7.1M | 5.2M | 2.1M | 28.5M | 26.3M | 24.2M | 21.2M |
| Net debt | — | -52.1M | -85.3M | -69M | -149.6M | -117.1M | -126.8M | -47.8M | -56.1M | -38.7M |
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 | 142.9M | 123.6M | 206.1M | 190.3M | 171.1M | 148.9M | 306.9M | 268.1M | 236.1M | 187.8M | 380.7M | 377.7M |
| Receivables | — | — | — | — | — | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current assets | 148.3M | 129.7M | 214.2M | 197.6M | 179.5M | 157.3M | 313.4M | 278.6M | 244.9M | 205.5M | 396.8M | 395.1M |
| Property, plant & equipment | 34.2M | 33.2M | 32.5M | 30.9M | 29.9M | 29M | 28.2M | 27.4M | 26.9M | 26.1M | 25.2M | 24.6M |
| Goodwill & intangibles | — | — | — | — | — | — | — | — | — | — | — | — |
| Total assets | 184.7M | 164.9M | 248.7M | 231M | 211.8M | 188.7M | 343.9M | 308.3M | 273.9M | 232.5M | 422.9M | 420.6M |
| Accounts payable | 1.9M | 2M | 1.7M | 2.5M | 3.5M | 4.2M | 6.4M | 4.7M | 8.4M | 3.2M | 5.6M | 4.4M |
| Short-term debt | 2.3M | 2.3M | 2.2M | 2.2M | 2.8M | 3M | 3M | 2.9M | 2.3M | 2.1M | 2.2M | 2.2M |
| Total current liabilities | 15.8M | 14.5M | 14.3M | 14.7M | 22.9M | 30.3M | 28.8M | 29.8M | 36.3M | 33.5M | 30.3M | 28.6M |
| Long-term debt | 24.6M | 23.9M | 23.6M | 23M | 21.9M | 21.2M | 20.7M | 20.2M | 19.6M | 19.1M | 18.5M | 17.9M |
| Total liabilities | 40.4M | 38.5M | 38M | 37.7M | 44.8M | 51.4M | 49.4M | 50M | 56M | 52.5M | 48.8M | 46.5M |
| Shareholders' equity | 144.4M | 126.5M | 210.7M | 193.2M | 167M | 137.2M | 294.5M | 258.3M | 217.9M | 180M | 374.1M | 374.1M |
| Total debt | 26.8M | 26.3M | 25.8M | 25.3M | 24.7M | 24.2M | 23.6M | 23.1M | 21.9M | 21.2M | 20.7M | 20.2M |
| Net debt | -22.2M | -47.8M | -91.8M | -70.6M | -39.7M | -56.1M | -187M | -115.9M | -39.4M | -38.7M | -276.4M | -139.2M |
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 | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net income | -23.8M | -53.2M | -74.8M | -117.2M | -88.3M | -72.2M | -86M | -96M | -124.7M | -174.3M |
| Depreciation & amortization | 56K | 448K | 1.6M | 2.8M | 3.9M | 3M | 2.4M | 2.6M | 2.5M | 1.6M |
| Stock-based compensation | 1.5M | 5.3M | 6M | 14.2M | 11.6M | 13.4M | 7.5M | 7.6M | 10.5M | 16.9M |
| Change in working capital | 2.2M | 1.6M | -787K | 3.8M | 38M | -11.5M | -13.2M | -764K | 529K | -2.9M |
| Operating cash flow | -21.2M | -46.3M | -68.1M | -96.4M | -34.7M | -67.5M | -107.7M | -86.6M | -103.5M | -156.3M |
| Capital expenditure | -392K | -2.3M | -7.8M | -4.4M | -899K | -1.3M | -2.4M | -1.5M | -649K | — |
| Investing cash flow | -4.2M | 10.5M | -26.8M | 24.5M | 6.6M | -91.1M | 59.2M | 9.7M | -16.1M | -57.4M |
| Dividends paid | — | — | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — | -5.1M | -1.7M |
| Financing cash flow | 3.4M | 77.1M | 131.5M | 47.2M | 128.7M | 134.9M | 74.6M | 3M | 121.6M | 194M |
| Net change in cash | -22M | 41.3M | 36.7M | -24.7M | 100.6M | -23.7M | 26M | -73.9M | 2.1M | -19.7M |
| Free cash flow | -20.5M | -45.5M | -78M | -97.1M | -57.5M | -79M | -101M | -95.7M | -100.7M | -157.4M |
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 | -21M | -20.3M | -24.3M | -25.1M | -32.7M | -42.6M | -39.3M | -39.5M | -45.8M | -49.8M | -56.7M | -54.8M |
| Depreciation & amortization | 588K | 213K | 327K | 1.2M | 405K | 488K | 407K | 386K | 376K | 467K | 395K | 391K |
| Stock-based compensation | 1.6M | 1.9M | 1.6M | 2.1M | 3M | 3.8M | 3.3M | 3.1M | 3.9M | 6.5M | 5.2M | 5.6M |
| Change in working capital | -1.4M | 134K | -596K | 677K | 520K | 401K | 45K | -426K | 3.3M | -5.8M | 1.8M | -1.7M |
| Operating cash flow | -19.5M | -18.1M | -23.1M | -20.5M | -24.8M | -35.3M | -34.9M | -37.4M | -33.5M | -53.6M | -47.2M | -52.6M |
| Capital expenditure | -383K | -90K | -149K | -286K | -15K | -199K | -126K | — | — | — | — | — |
| Investing cash flow | -24.6M | 45.3M | -38.5M | -5.2M | -11M | 38.6M | -27.5M | -32.4M | -45.2M | 47.6M | 44.9M | -133.4M |
| Dividends paid | — | — | — | — | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | -5.1M | 0 | -20K | -1.7M | 0 | 0 | -12.9M | -754K |
| Financing cash flow | 0 | 435K | 107.1M | 4.8M | -2.1M | 6.7M | 189.7M | -1.8M | 1.2M | 4.9M | 239M | 48.1M |
| Net change in cash | -44.1M | 27.7M | 45.5M | -20.8M | -37.9M | 10M | 127.3M | -71.7M | -77.5M | -1.1M | 236.7M | -137.9M |
| Free cash flow | -18.3M | -20.9M | -25.3M | -21.8M | -23.7M | -29.8M | -32M | -37.8M | -33.6M | -54.1M | -47.4M | -52.7M |