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 | -$6.12 | -$6.68 | -9.2% | — | $0 | — |
| Q1 26 | -$6.11 | -$8.94 | -46.3% | — | $0 | — |
| Q3 25 | -$12.3 | -$14.6 | -18.4% | — | $0 | — |
| Q2 25 | -$18 | -$3.5 | +80.6% | — | $0 | — |
| Q1 25 | -$19.5 | -$24 | -23.1% | — | — | — |
| Q3 24 | -$0.24 | -$0.21 | +12.5% | — | — | — |
| Q2 24 | -$23.8 | -$16.5 | +30.5% | — | — | — |
| Q1 24 | -$21 | -$21 | 0.0% | — | — | — |
| Q4 23 | -$28.8 | -$17.3 | +40.0% | — | — | — |
| Q3 23 | -$0.35 | -$0.3 | +14.3% | — | — | — |
| Q2 23 | -$0.39 | -$0.32 | +17.9% | — | $2.2M | — |
| Q1 23 | -$19.9 | -$30 | -50.9% | — | $2M | — |
| Q4 22 | -$0.53 | -$0.47 | +11.3% | — | $0 | — |
| Q3 22 | -$0.53 | -$0.48 | +9.4% | — | $0 | — |
| Q2 22 | -$0.52 | -$0.51 | +1.9% | — | $0 | — |
| Q1 22 | -$0.46 | -$0.5 | -8.7% | — | $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 | — | -$50.8 | — | — | $0 | — |
| FY24 | — | -$96.8 | — | — | $4.9M | — |
| FY23 | — | -$1.24 | — | — | $10.1M | — |
| FY22 | — | -$1.96 | — | — | $0 | — |
| FY21 |
Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.
| Period | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 | $0 | $10.1M | $4.9M | $0 |
| YoY change | — | 0% | 0% | 0% | 0% | +InfinityT% | -51.3% | -100% |
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 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | 0 | 0 | 10.1M | 4.9M | 0 |
| Cost of revenue | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — | — |
| Research & development | 8.4M | 10.8M | 23.9M | 30.7M | 35.2M | 49.4M | 46.4M | 19.5M |
| Selling, general & administrative | 1.6M | 2.3M | 5.6M | 11.4M | 12.1M | 12.7M | 14.6M | 17M |
| Operating expenses | 10M | 13.1M | 29.4M | 42.1M | 47.3M | 62.1M | 61.1M | 36.5M |
| Operating income | -10M | -13.1M | -29.4M | -42.1M | -47.3M | -52M | -56.2M | -36.5M |
| Operating margin | — | — | — | — | — | -515.3% | -1.1K% | — |
| Non-operating income, net | 114K | 84K | 200K | 119K | — | — | — | -3.5M |
| Pretax income | -9.9M | -13.1M | -29.5M | -42.3M | -46.2M | -47.9M | -53M | -39M |
| Income tax | — | — | — | — | — | — | — | — |
| Net income | -9.9M | -13.1M | -29.5M | -42.3M | -46.2M | -47.9M | -53M | -39M |
| Net margin | — | — | — | — | — | -475% | -1.1K% | — |
| EBITDA | -9.9M | -13M | -29.2M | -41.9M | -45.7M | -47.4M | -52.7M | -35.4M |
| EPS | -2.01 | -1.43 | -4.93 | -1.81 | -1.96 | -1.24 | -96.8 | -50.8 |
| Diluted EPS | -2.01 | -1.43 | -4.93 | -1.81 | -1.96 | -1.24 | -96.8 | -50.8 |
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 |
| Cost of revenue | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — | — | — | — | — | — |
| Research & development | 13.5M | 11.1M | 10.3M | 8.1M | 6.6M | 21.5M | 10.8M | — | 5M | 4.1M | 7.6M | 12.2M |
| Selling, general & administrative | — | — | — | — | — | — | — | 3.1M | 3.2M | 7M | 4.4M | 4.3M |
| Operating expenses | 13.5M | 11.1M | 10.3M | 8.1M | 6.6M | 21.5M | 10.8M | 2.7M | 8.2M | 11.1M | 12M | 16.5M |
| Operating income | — | — | — | — | — | — | — | -2.7M | -8.2M | -11.1M | -12M | -16.5M |
| Operating margin | — | — | — | — | — | — | — | — | — | — | — | — |
| Non-operating income, net | — | — | — | — | — | — | — | — | — | — | -91K | 615K |
| Pretax income | — | — | — | — | — | — | — | -2.1M | -8.2M | -14.6M | -12.3M | -16.2M |
| Income tax | — | — | — | — | — | — | — | — | — | — | — | — |
| Net income | — | — | — | — | — | — | — | -2.1M | -8.2M | -14.6M | -12.3M | -16.2M |
| Net margin | — | — | — | — | — | — | — | — | — | — | — | — |
| EBITDA | — | — | — | — | — | — | — | -2M | -8.2M | -14.6M | -11.2M | -15.1M |
| EPS | -0.3 | — | -0.28 | -0.22 | -15.8 | — | -24 | -3.49 | -14.6 | — | -8.94 | -6.68 |
| Diluted EPS | -0.3 | — | -0.28 | -0.22 | -15.8 | — | -24 | -3.49 | -14.6 | — | -8.94 | -6.68 |
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 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Market cap | — | — | — | — | 1.9B | — | — | — | 136.5M |
| Enterprise value | — | — | — | — | 1.9B | — | — | — | 51.4M |
| Shares outstanding | 4.9M | 9.1M | 6M | 23.4M | 23.5M | 38.5M | 550.2K | 766.6K | 766.6K |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| P/E | — | — | — | — | — | — | — | — | -0.94 |
| P/B | — | — | — | — | 28.3 | — | — | — | 1.58 |
| EV/EBITDA | — | — | — | — | -40.8 | — | — | — | -1.32 |
| Earnings yield | — | — | — | — | — | — | — | — | -106.6% |
| FCF yield | — | — | — | — | -2.15% | — | — | — | -15.1% |
| PEG | — | — | — | — | — | — | — | — | -0.01 |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Operating margin | — | — | — | — | — | -515.3% | -1.1K% | — | 0% |
| Net margin | — | — | — | — | — | -475% | -1.1K% | — | 0% |
| ROE | 55.4% | 42.7% | -19.8% | -38% | -67.4% | -62.6% | -184% | -91.7% | -106% |
| ROA | -206.5% | -278.9% | -18.1% | -33.4% | -53.9% | -46.1% | -117.3% | -73.5% | -40% |
| Return on tangible assets | -206.5% | -278.9% | -18.1% | -33.4% | -53.9% | -46.1% | -117.3% | -73.5% | -49.9% |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Current ratio | 1.76 | 1.08 | 16.4 | 10.4 | 6.72 | 4.18 | 2.9 | 5.17 | 9.23 |
| Quick ratio | 1.76 | 1.08 | 16.4 | 10.4 | 6.72 | 4.18 | 2.9 | 5.17 | 9.23 |
| Debt / equity | — | -0.15 | 0.04 | 0.06 | 0.09 | 0.06 | 0.1 | 0.02 | 0.09 |
| Debt / assets | — | 0.95 | 0.04 | 0.05 | 0.07 | 0.04 | 0.06 | 0.01 | 0.07 |
| Net debt / EBITDA | — | -0.04 | 5.17 | 1.97 | 1.59 | 1.94 | 0.68 | 1.36 | 1.8 |
| Interest coverage | — | -200.4 | -90.5 | -121.6 | -109 | -98.2 | -171.8 | -432 | -27.6 |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Revenue per share | 0 | 0 | 0 | 0 | 0 | 0.26 | 8.93 | 0 | 0 |
| EPS (basic) | -2.01 | -1.43 | -4.93 | -1.81 | -1.96 | -1.24 | -96.8 | -50.8 | -50.8 |
| EPS (diluted) | -2.01 | -1.43 | -4.93 | -1.81 | -1.96 | -1.24 | -96.8 | -50.8 | -38.4 |
| Book value per share | -3.64 | -3.35 | 24.9 | 4.77 | 2.91 | 1.99 | 52.4 | 55.5 | 30.4 |
| FCF per share | -1.75 | -1.38 | -4.61 | -1.54 | -1.77 | -0.86 | -101.7 | -43.5 | -17.6 |
| Cash per share | 0.84 | 0.43 | 26.2 | 3.81 | 3.36 | 2.5 | 70.4 | 63.8 | 33.5 |
| Capex per share | 0 | 0 | 0.01 | 0 | 0 | 0 | 0 | — | — |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Capex / revenue | — | — | — | — | — | 0.07% | 0% | — | — |
| Capex / operating cash flow | 0% | -0.03% | -0.26% | -0.24% | -0.02% | -0.02% | 0% | — | — |
| Payout ratio | — | — | — | — | — | — | — | — | 0% |
| — |
| -$1.81 |
| — |
| — |
| $0 |
| — |
| FY20 | — | -$4.93 | — | — | $0 | — |
| FY19 | — | -$1.43 | — | — | $0 | — |
| FY18 | — | -$2.01 | — | — | $0 | — |
| Period |
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| Q3 23 |
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| Q4 23 |
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| Q1 24 |
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| Q2 24 |
|---|
| Q3 24 |
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| Q4 24 |
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| Q1 25 |
|---|
| Q2 25 |
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| Q3 25 |
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| Q4 25 |
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| Q1 26 |
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| Q2 26 |
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| Revenue | — | — | — | — | — | — | — | $0 | $0 | $0 | $0 | $0 |
| YoY change | — | — | — | — | — | — | — | — | — | — | — | 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 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|
| Cash & short-term investments | 4.1M | 3.9M | 157.2M | 89M | 79.1M | 96.3M | 38.8M | 48.9M |
| Receivables | — | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — | — |
| Total current assets | 4.8M | 4.7M | 160.4M | 91.9M | 83.6M | 102.2M | 44.2M | 52.1M |
| Property, plant & equipment | — | — | 1.8M | 1.5M | 1.4M | 1.2M | 934K | 666K |
| Goodwill & intangibles | — | — | — | — | — | — | — | — |
| Total assets | 4.8M | 4.7M | 162.9M | 126.5M | 85.6M | 103.9M | 45.2M | 53M |
| Accounts payable | 2.3M | 1.9M | 3.6M | 2.8M | 1.4M | 3.3M | 1.3M | 943K |
| Short-term debt | — | 1.3M | 2.8M | 360K | 1.8M | 1.9M | 1.9M | 317K |
| Total current liabilities | 2.7M | 4.3M | 9.8M | 8.9M | 12.4M | 24.5M | 15.2M | 10.1M |
| Long-term debt | — | 3.2M | 3.6M | 6.2M | 4.6M | 2.7M | 860K | 419K |
| Total liabilities | 22.6M | 35.3M | 13.5M | 15.1M | 17.2M | 27.4M | 16.4M | 10.5M |
| Shareholders' equity | -17.8M | -30.6M | 149.4M | 111.4M | 68.5M | 76.5M | 28.8M | 42.5M |
| Total debt | — | 4.4M | 6.4M | 6.5M | 6.3M | 4.6M | 2.8M | 736K |
| Net debt | — | 521K | -150.8M | -36.2M | -18.2M | -91.7M | -36M | -48.2M |
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 | 108M | 96.3M | 81.2M | 69.7M | 60.1M | 38.8M | 25.6M | 16.4M | 10.7M | 48.9M | 54.1M | 96.3M |
| Receivables | — | — | — | — | — | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current assets | 111.1M | 102.2M | 85.9M | 73.9M | 63.6M | 44.2M | 30.6M | 21M | 14.5M | 52.1M | 55M | 101.2M |
| Property, plant & equipment | 1.2M | 1.2M | 1.1M | 1.1M | 998K | 934K | 869K | 803K | 735K | 666K | 595K | 523K |
| Goodwill & intangibles | — | — | — | — | — | — | — | — | — | — | — | — |
| Total assets | 113M | 103.9M | 87.5M | 75.5M | 65.1M | 45.2M | 31.6M | 21.8M | 15.3M | 53M | 56.2M | 102.9M |
| Accounts payable | 3.2M | 3.3M | 1.9M | 682K | 1.8M | 1.3M | 1.9M | 807K | 1.4M | 943K | 2.7M | 1.2M |
| Short-term debt | 1.9M | 1.9M | 1.9M | 1.9M | 1.9M | 1.9M | 1.6M | 1.2M | 848K | 317K | 1.3M | 2.8M |
| Total current liabilities | 24.2M | 24.5M | 18.4M | 14.3M | 11.9M | 15.2M | 15.7M | 8.1M | 9.4M | 10.1M | 11.8M | 11M |
| Long-term debt | 3.2M | 2.7M | 2.3M | 1.8M | 1.3M | 860K | 659K | 580K | 500K | 419K | 5.8M | 4.8M |
| Total liabilities | 27.6M | 27.4M | 20.9M | 16.4M | 13.5M | 16.4M | 16.3M | 8.6M | 9.9M | 10.5M | 21.5M | 19.1M |
| Shareholders' equity | 85.4M | 76.5M | 66.6M | 59.2M | 51.6M | 28.8M | 15.3M | 13.2M | 5.4M | 42.5M | 34.6M | 83.7M |
| Total debt | 5.1M | 4.6M | 4.2M | 3.7M | 3.2M | 2.8M | 2.3M | 1.8M | 1.3M | 736K | 7.1M | 7.7M |
| Net debt | -93.7M | -91.7M | -77M | -66M | -56.8M | -36M | -23.3M | -14.6M | -9.3M | -48.2M | -47M | -88.6M |
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 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|
| Net income | -9.9M | -13.1M | -29.5M | -42.3M | -46.2M | -47.9M | -53M | -39M |
| Depreciation & amortization | 1K | 12K | 36K | 68K | 74K | 70K | 46K | 21K |
| Stock-based compensation | 101K | 196K | 755K | 4M | 3.6M | 4.6M | 5.3M | 2.6M |
| Change in working capital | 1.8M | 330K | 313K | -414K | -1.6M | 6.7M | -6.7M | -669K |
| Operating cash flow | -7.9M | -12.6M | -28.4M | -38.4M | -44.5M | -36.3M | -54.1M | -33.3M |
| Capital expenditure | 0 | -4K | -74K | -93K | -8K | -7K | 0 | — |
| Investing cash flow | 0 | -4K | -74K | -79.2M | 23.7M | 55.8M | 0 | — |
| Dividends paid | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — |
| Financing cash flow | 0 | 12.4M | 178.1M | 181K | -319K | 49M | -1.9M | 43.4M |
| Net change in cash | -7.9M | -121K | 149.6M | -117.4M | -21.1M | 68.5M | -56M | 10.1M |
| Free cash flow | -8.6M | -12.6M | -27.6M | -36M | -41.7M | -33.3M | -56M | -33.3M |
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 | 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 | -12.4M | -9.9M | -11.6M | -9.2M | -8.7M | -23.6M | -14M | -2.1M | -8.2M | -14.6M | -12.3M | -16.2M |
| Depreciation & amortization | 17K | 16K | 15K | 12K | 10K | 9K | 6K | 7K | 3K | 5K | 252K | 631K |
| Stock-based compensation | 1.1M | 1.2M | 1.6M | 1.7M | 1.1M | 961K | 544K | -77K | 415K | 1.7M | 689K | 871K |
| Change in working capital | -947K | -2.8M | -3.4M | -2.9M | 468K | -856K | 225K | -1.2M | 499K | -242K | 1.7M | -2.4M |
| Operating cash flow | -12.7M | -11.4M | -13.4M | -10.3M | -7M | -23.4M | -13.2M | -8.8M | -5.3M | -6.5M | -8.7M | -22.1M |
| Capital expenditure | -7K | 0 | — | — | — | 0 | — | — | — | — | — | — |
| Investing cash flow | 14M | 9.3M | 0 | 0 | 0 | 0 | — | — | — | — | — | — |
| Dividends paid | — | — | — | — | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — | — | — | — | — |
| Financing cash flow | -405K | -623K | -407K | -417K | -405K | -639K | -411K | -406K | -405K | -841K | 13.9M | -4.5M |
| Net change in cash | 913K | -2.7M | -13.8M | -10.7M | -7.4M | -24M | -13.6M | -9.2M | -5.7M | -7.3M | 5.2M | -26.7M |
| Free cash flow | -12.3M | -11.2M | -15M | -11.1M | -9.2M | -20.7M | -12.7M | -8.8M | -5.3M | -6.5M | -8.7M | -22.3M |