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 | -$2.31 | -$1.13 | +51.1% | — | $591K | — |
| Q1 26 | -$2.86 | -$1.31 | +54.2% | — | $108K | — |
| Q3 25 | -$2.09 | -$2.13 | -1.9% | — | $400K | — |
| Q2 25 | -$0.7 | $4.17 | +695.7% | — | $17.3M | — |
| Q3 24 | -$0.5 | -$0.1 | +80.0% | — | $5.4M | — |
| Q2 24 | -$1.9 | $0.7 | +136.8% | — | $5.4M | — |
| Q1 24 | -$0.15 | -$0.23 | -53.3% | — | $466K | — |
| Q4 23 | -$1.75 | -$1.7 | +2.9% | — | $447K | — |
| Q3 23 | -$2.3 | -$2.1 | +8.7% | — | $213K | — |
| Q2 23 | -$2.55 | -$2.2 | +13.7% | — | $594K | — |
| Q1 23 | -$2.15 | -$4.1 | -90.7% | — | $300K | — |
| Q4 22 | -$1.25 | -$2.5 | -100.0% | — | $100K | — |
| Q3 22 | -$0.65 | -$1.5 | -130.8% | — | $261K | — |
| Q2 22 | -$0.97 | -$0.1 | +89.7% | — | $3.5M | — |
| Q1 22 | -$2.9 | -$2.4 | +17.2% | — | $3K | — |
| Q4 21 | $4.45 | $6.1 | +37.1% | — | $20.8M | — |
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 | — | -$2.19 | — | — | $19.4M | — |
| FY24 | — | -$3.8 | — | — | $11.5M | — |
| FY23 | — | -$1.01 | — | — | $1.6M | — |
| FY22 | — | -$0.65 | — | — | $3.9M |
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 | $174K | $129K | $22.9M | $8.8M | $31.3M | $3.9M | $1.6M | $11.5M | $19.4M |
| YoY change | 0% | +InfinityT% | -25.9% | +17.7K% | -61.7% | +256.5% | -87.6% | -60% | +642.5% | +68% |
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 | 174K | 129K | 22.9M | 8.8M | 31.3M | 3.9M | 1.6M | 11.5M | 19.4M |
| Cost of revenue | — | — | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — | — | — | — |
| Research & development | 17M | 25.8M | 28.1M | 40.6M | 27.9M | 20.4M | 12.7M | 23.5M | 17.8M | 22.8M |
| Selling, general & administrative | 3.7M | 6M | 5.5M | 8.3M | 11.1M | 8.5M | 7.4M | 7.4M | 5.7M | 4.2M |
| Operating expenses | 20.8M | 31.8M | 33.6M | 48.9M | 39M | 28.3M | 20.1M | 30.9M | 23.6M | 26.9M |
| Operating income | -20.8M | -31.6M | -33.5M | -25.9M | -30.2M | 3M | -16.2M | -29.3M | -12M | -7.5M |
| Operating margin | — | -18.2K% | -26K% | -113.3% | -344.7% | 9.48% | -418.3% | -1.9K% | -104.1% | -38.9% |
| Non-operating income, net | — | — | — | — | — | — | — | — | — | — |
| Pretax income | -20.8M | -31.6M | -32.2M | -24.6M | -29.3M | 3.2M | -14.9M | -27.2M | -10.6M | -6.1M |
| Income tax | — | — | 0 | 33K | 0 | 0 | — | — | — | — |
| Net income | -20.8M | -31.6M | -32.2M | -24.6M | -29.3M | 3.2M | -14.9M | -27.2M | -10.6M | -6.1M |
| Net margin | — | -18.1K% | -25K% | -107.4% | -333.9% | 10.3% | -384.3% | -1.8K% | -91.7% | -31.6% |
| EBITDA | -20.4M | -31.2M | -32.8M | -25.1M | -29.3M | 3.8M | -15.7M | -29M | -11.8M | -7.4M |
| EPS | -1.15 | -1.76 | -1.8 | -1.26 | -1.3 | 0.14 | -0.65 | -1.01 | -3.8 | -2.19 |
| Diluted EPS | -1.15 | -1.76 | -1.8 | -1.26 | -1.3 | 0.14 | -0.65 | -1.01 | -3.8 | -2.19 |
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 | 213K | 447K | 466K | 5.4M | 5.4M | 278K | 1M | 17.3M | 400K | 696K | 108K | 591K |
| Cost of revenue | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — | — | — | — | — | — |
| Research & development | 4.7M | 4.2M | 5.3M | 2.4M | 4.8M | 5.2M | 8.8M | 4.6M | 5.7M | 3.6M | 2.8M | 3.7M |
| Selling, general & administrative | 1.9M | 1.7M | 1.8M | 1.4M | 1.4M | 1.2M | — | 1.4M | 957K | 577K | 1.2M | 1M |
| Operating expenses | 6.5M | 5.9M | 7.2M | 3.8M | 6.2M | 6.4M | 8.8M | 6M | 6.7M | 4.2M | 4M | 4.8M |
| Operating income | -6.3M | -5.4M | -6.7M | 1.6M | -828K | -6.1M | 9.1M | 11.2M | -6.3M | -3.4M | -3.9M | -4.2M |
| Operating margin | -3K% | -1.2K% | -1.4K% | 29.9% | -15.4% | -2.2K% | 879.6% | 65.1% | -1.6K% | -490.1% | -3.6K% | -704.2% |
| Non-operating income, net | — | — | — | — | — | — | — | — | — | — | — | — |
| Pretax income | -5.7M | -4.8M | -6.3M | 2M | -366K | -5.8M | -8.8M | 11.6M | -5.9M | -3M | -3.7M | -3.7M |
| Income tax | — | — | — | — | — | — | — | — | — | — | — | — |
| Net income | -5.7M | -4.8M | -6.3M | 2M | -366K | -5.8M | -8.8M | 11.6M | -5.9M | -3M | -3.7M | -3.7M |
| Net margin | -2.7K% | -1.1K% | -1.4K% | 36.4% | -6.83% | -2.1K% | -854.3% | 67.3% | -1.5K% | -429.2% | -3.5K% | -622.8% |
| EBITDA | -6.3M | -5.4M | -6.7M | 1.6M | -828K | -6.1M | 9.1M | 11.2M | -6.3M | -3.4M | -3.9M | -4.2M |
| EPS | -0.21 | — | -2.3 | 0.7 | -0.1 | — | -3.2 | 4.17 | -2.13 | — | -1.31 | -1.13 |
| Diluted EPS | -0.21 | — | -2.3 | 0.7 | -0.1 | — | -3.2 | 4.17 | -2.13 | — | -1.31 | -1.13 |
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 | — | — | 1.1B | 3.4B | — | 1.7B | 1.1B | — | — | 117.4M | 117.4M |
| Enterprise value | — | — | 1B | 3.3B | — | 1.7B | 1B | — | — | 94.4M | 94.4M |
| Shares outstanding | 18M | 18M | 17.9M | 19.5M | 22.6M | 23.1M | 23.1M | 27.1M | 2.8M | 2.8M | 2.8M |
| Metric | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E | — | — | — | — | — | 529.9 | — | — | — | — | — |
| P/S | — | — | 8.3K | 146.3 | — | 54.6 | 271.6 | — | — | 6.06 | 6.06 |
| P/B | — | — | 16.8 | 63.9 | — | 30.7 | 25 | — | — | 5.15 | 5.15 |
| EV/EBITDA | — | — | -30.9 | -131.7 | — | 433.2 | -65.2 | — | — | -12.7 | -12.7 |
| EV/Sales | — | — | 7.8K | 144.2 | — | 53.2 | 263.2 | — | — | 4.87 | 4.87 |
| Earnings yield | — | — | — | — | — | 0.19% | — | — | — | — | — |
| FCF yield | — | — | -2.28% | -0.69% | — | -0.46% | -0.92% | — | — | 0.23% | 0.23% |
| Metric | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating margin | — | -18.2K% | -26K% | -113.3% | -344.7% | 9.48% | -418.3% | -1.9K% | -104.1% | -38.9% | -38.9% |
| Net margin | — | -18.1K% | -25K% | -107.4% | -333.9% | 10.3% | -384.3% | -1.8K% | -91.7% | -31.6% | -31.6% |
| ROE | 66.3% | 59.9% | -50.4% | -46.9% | -57.6% | 5.79% | -35.4% | -70.5% | -36.7% | -26.9% | -26.9% |
| ROA | -189.1% | -206.1% | -46.2% | -40.1% | -49.5% | 4.66% | -32% | -60.1% | -29.5% | -20.5% | -20.5% |
| ROIC | — | — | -3.6K% | -628% | -1.1K% | 21.3% | — | — | — | — | — |
| Return on tangible assets | -189.1% | -206.1% | -46.2% | -40.1% | -49.5% | 4.66% | -32% | -60.1% | -29.5% | -20.5% | -20.5% |
| Metric | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current ratio | 0.2 | 0.16 | 13.5 | 8.58 | 8.95 | 4.88 | 12.9 | 9.1 | 5.92 | 4.37 | 4.37 |
| Quick ratio | 0.2 | 0.16 | 13.5 | 8.58 | 8.95 | 4.88 | 12.9 | 9.1 | 5.92 | 4.37 | 4.37 |
| Debt / equity | -1.19 | -1.24 | 0 | 0.04 | 0.04 | 0.03 | 0.02 | 0.04 | 0.05 | 0.04 | 0.04 |
| Debt / assets | 3.4 | 4.27 | 0 | 0.03 | 0.03 | 0.02 | 0.02 | 0.04 | 0.04 | 0.03 | 0.03 |
| Net debt / EBITDA | -1.49 | -1.81 | 1.92 | 1.93 | 1.65 | -10.8 | 2.1 | 1.25 | 1.92 | 3.1 | 3.1 |
| Effective tax rate | — | — | 0% | 0% | 0% | 0% | — | — | — | — | — |
| Metric | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue per share | 0 | 0.01 | 0.01 | 1.17 | 0.39 | 1.36 | 0.17 | 0.06 | 4.14 | 6.96 | 6.96 |
| EPS (basic) | -1.15 | -1.76 | -1.8 | -1.26 | -1.3 | 0.14 | -0.65 | -1.01 | -3.8 | -2.19 | -2.19 |
| EPS (diluted) | -1.15 | -1.76 | -1.8 | -1.26 | -1.3 | 0.14 | -0.65 | -1.01 | -3.8 | -2.19 | -2.19 |
| Book value per share | -1.74 | -2.93 | 3.58 | 2.69 | 2.25 | 2.41 | 1.83 | 1.43 | 10.4 | 8.19 | 8.19 |
| FCF per share | -1.05 | -1.45 | -1.37 | -1.18 | -1.14 | -0.34 | -0.42 | -0.66 | -4.99 | 0.1 | 0.1 |
| Cash per share | 0.39 | 0.5 | 3.53 | 2.58 | 2.22 | 1.87 | 1.45 | 1.4 | 8.59 | 8.61 | 8.61 |
| Capex per share | 0.02 | 0.11 | 0.06 | 0.03 | 0.02 | 0.01 | 0.01 | 0 | 0 | — | — |
| Metric | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Capex / revenue | — | 1.1K% | 815.5% | 2.61% | 5.12% | 0.46% | 4.4% | 3.86% | 0.03% | — | — |
| Capex / operating cash flow | -2.13% | -8.07% | -4.77% | -2.46% | -1.75% | -1.82% | -1.88% | -0.38% | -0.03% | — | — |
| — |
| FY21 | — | $0.14 | — | — | $31.3M | — |
| FY20 | — | -$1.3 | — | — | $8.8M | — |
| FY19 | — | -$1.26 | — | — | $22.9M | — |
| FY18 | — | -$1.8 | — | — | $129K | — |
| FY17 | — | -$1.76 | — | — | $174K | — |
| FY16 | — | -$1.15 | — | — | $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 | $213K | $447K | $466K | $5.4M | $5.4M | $278K | $1M | $17.3M | $400K | $696K | $108K | $591K |
| YoY change | -18.4% | +347% | +55.3% | +814.6% | +2.4K% | -37.8% | +121.2% | +217.7% | -92.5% | +150.4% | -89.5% | -96.6% |
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 | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & short-term investments | 7M | 9M | 63M | 50.4M | 50.2M | 43.2M | 33.6M | 38M | 23.9M | 24M |
| Receivables | — | — | 0 | 4.1M | 2.2M | 13.1M | 62K | 377K | 3.6M | 2M |
| Inventory | — | — | — | — | — | — | — | — | — | — |
| Total current assets | 8.3M | 10.5M | 66M | 55.8M | 53.4M | 57.1M | 43.1M | 41.2M | 31.3M | 27M |
| Property, plant & equipment | 798K | 2.3M | 2.6M | 4.4M | 3.7M | 2.6M | 1.5M | 2.2M | 1.6M | 1.2M |
| Goodwill & intangibles | — | — | — | — | — | — | — | — | — | — |
| Total assets | 11M | 15.3M | 69.7M | 61.3M | 59.2M | 69.2M | 46.6M | 45.3M | 35.8M | 29.9M |
| Accounts payable | 667K | 534K | 2.9M | 1.7M | 1.2M | 766K | 251K | 154K | 1.3M | 735K |
| Short-term debt | 37.3M | 65.3M | — | 672K | 673K | 781K | 718K | 447K | 430K | 495K |
| Total current liabilities | 41.6M | 67.2M | 4.9M | 6.5M | 6M | 11.7M | 3.3M | 4.5M | 5.3M | 6.2M |
| Long-term debt | — | — | 0 | 1.4M | 1.3M | 810K | 54K | 1.2M | 878K | 496K |
| Total liabilities | 42.3M | 68M | 5.8M | 8.8M | 8.3M | 13.6M | 4.4M | 6.6M | 7M | 7.1M |
| Shareholders' equity | -31.3M | -52.7M | 63.9M | 52.5M | 50.8M | 55.6M | 42.2M | 38.6M | 28.9M | 22.8M |
| Total debt | 37.3M | 65.3M | 0 | 2M | 2M | 1.6M | 772K | 1.7M | 1.3M | 991K |
| Net debt | 30.3M | 60.3M | -5.3M | -7.4M | -5.2M | -18.5M | -11.7M | -5.9M | -18.2M | -10M |
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 | 43.3M | 38M | 33M | 30.5M | 28.1M | 23.9M | 16.9M | 24.3M | 20.8M | 24M | 52.8M | 47.9M |
| Receivables | 0 | 377K | 869K | 6.1M | 7M | 3.6M | 3.9M | 10M | 9.8M | 2M | 1.1M | 713K |
| Inventory | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current assets | 45.5M | 41.2M | 36M | 38.3M | 38M | 31.3M | 23.4M | 36.3M | 31.7M | 27M | 55.8M | 51.1M |
| Property, plant & equipment | 2.4M | 2.2M | 2M | 1.8M | 1.6M | 1.6M | 1.5M | 1.4M | 1.3M | 1.2M | 1M | 915K |
| Goodwill & intangibles | — | — | — | — | — | — | — | — | — | — | — | — |
| Total assets | 49.9M | 45.3M | 39.9M | 42M | 43M | 35.8M | 27.1M | 39.3M | 34.6M | 29.9M | 58.5M | 53.8M |
| Accounts payable | 234K | 154K | 582K | 679K | 1.5M | 1.3M | 438K | 1.2M | 828K | 735K | 782K | 906K |
| Short-term debt | 467K | 447K | 386K | 376K | 384K | 430K | 433K | 482K | 491K | 495K | 485K | 519K |
| Total current liabilities | 4.5M | 4.5M | 5.2M | 5.2M | 6.5M | 5.3M | 4.6M | 5M | 6.1M | 6.2M | 6.3M | 4.9M |
| Long-term debt | 1.2M | 1.2M | 1.1M | 1M | 922K | 878K | 746K | 700K | 592K | 496K | 377K | 251K |
| Total liabilities | 6.7M | 6.6M | 7.3M | 7.1M | 8.3M | 7M | 6.9M | 7.4M | 8.6M | 7.1M | 7.1M | 5.7M |
| Shareholders' equity | 43.1M | 38.6M | 32.7M | 34.9M | 34.7M | 28.9M | 20.2M | 31.9M | 26M | 22.8M | 51.4M | 48.1M |
| Total debt | 1.7M | 1.7M | 1.5M | 1.4M | 1.3M | 1.3M | 1.2M | 1.2M | 1.1M | 991K | 862K | 770K |
| Net debt | -12.4M | -5.9M | -9.7M | -10.2M | -12.1M | -18.2M | -15.7M | -9M | -5.6M | -10M | -9.3M | -15.9M |
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 | -20.8M | -31.6M | -32.2M | -24.6M | -29.3M | 3.2M | -14.9M | -27.2M | -10.6M | -6.1M |
| Depreciation & amortization | 359K | 471K | 762K | 887K | 946K | 880K | 562K | 342K | 233K | 109K |
| Stock-based compensation | 952K | 4M | 4.7M | 2.6M | 1.2M | 687K | 1.5M | 1.9M | 786K | 82K |
| Change in working capital | 1.4M | -2.9M | 4.8M | -3.1M | 1.5M | -12.7M | 4.1M | 9M | -3.4M | 3.4M |
| Operating cash flow | -18.1M | -23.9M | -22M | -24.3M | -25.6M | -7.9M | -9.1M | -15.9M | -13M | 322K |
| Capital expenditure | -385K | -1.9M | -1.1M | -597K | -449K | -143K | -171K | -60K | 4K | — |
| Investing cash flow | -391K | -5.9M | -54.7M | 16M | -2.7M | 19.9M | 1.7M | -9.7M | 26.7M | -8.6M |
| Dividends paid | — | — | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — | — | — |
| Financing cash flow | 40M | 56M | 78.8M | 10.6M | 26.3M | 505K | 0 | 21.5M | 0 | 0 |
| Net change in cash | 21.5M | 26.2M | 2M | 2.4M | -2M | 12.5M | -7.4M | -4.1M | 13.7M | -8.3M |
| Free cash flow | -18.9M | -26M | -24.5M | -23.1M | -25.7M | -7.8M | -9.7M | -17.9M | -13.9M | 275K |
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 16 | Q4 16 | Q3 17 | Q4 17 |
|---|---|---|---|---|
| Net income | -7.4M | -4.9M | -14.3M | -5.5M |
| Depreciation & amortization | 102K | 93K | 124K | 164K |
| Stock-based compensation | 601K | 166K | 1.9M | 1.7M |
| Change in working capital | 719K | -194K | 174K | -3.1M |
| Operating cash flow | -6M | -4.7M | -5.9M | -6.7M |
| Capital expenditure | -178K | -80K | -893K | -430K |
| Investing cash flow | -184K | -43K | -8.9M | -456K |
| Dividends paid | — | — | — | — |
| Share repurchases | — | — | — | — |
| Financing cash flow | 10M | 20M | 0 | 0 |
| Net change in cash | 3.8M | 15.2M | -14.8M | -7.2M |
| Free cash flow | -6.1M | -5.2M | -6.8M | -7.5M |