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 | -$0.84 | -$0.84 | 0.0% | — | $0 | — |
| Q1 26 | -$0.78 | -$0.83 | -6.4% | — | $0 | — |
| Q4 25 | -$0.88 | -$0.88 | 0.0% | — | $0 | — |
| Q3 25 | -$0.84 | -$0.9 | -7.1% | — | $0 | — |
| Q2 25 | -$0.67 | -$0.98 | -46.3% | — | $0 | — |
| Q1 25 | -$0.71 | -$0.67 | +5.6% | — | $0 | — |
| Q4 24 | -$0.63 | -$0.61 | +3.2% | — | $0 | — |
| Q3 24 | -$0.59 | -$0.66 | -11.9% | — | $0 | — |
| Q2 24 | -$0.59 | -$0.6 | -1.7% | — | $0 | — |
| Q1 24 | -$0.51 | -$0.59 | -15.7% | — | $0 | — |
| Q4 23 | -$0.48 | -$0.5 | -4.2% | — | $0 | — |
| Q3 23 | -$0.51 | -$0.53 | -3.9% | — | $0 | — |
| Q2 23 | -$0.56 | -$0.47 | +16.1% | — | $0 | — |
| Q1 23 | -$0.52 | -$0.49 | +5.8% | — | $0 | — |
| Q4 22 | -$0.53 | -$0.46 | +13.2% | — | $0 | — |
| Q3 22 | -$0.64 | -$0.55 | +14.1% | — | $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 | — | -$3.29 | — | — | $0 | — |
| FY24 | — | -$2.47 | — | — | $0 | — |
| FY23 | — | -$1.99 | — | — | $0 | — |
| FY22 | — | -$2.26 | — | — | $33.2M |
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 | $379K | $0 | $0 | $20.5M | $15.4M | $18.8M | $33.2M | $0 | $0 | $0 |
| YoY change | — | -100% | 0% | +InfinityT% | -24.8% | +22.2% | +76.4% | -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 | 379K | 0 | 0 | 20.5M | 15.4M | 18.8M | 33.2M | 0 | 0 | 0 |
| Cost of revenue | — | — | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — | — | — | — |
| Research & development | 12.5M | 19.9M | 36.3M | 54.2M | 74.1M | 108.5M | 124.4M | 121.9M | 184.6M | 208.4M |
| Selling, general & administrative | 4.1M | 5.1M | 14.4M | 20.8M | 28.2M | 40.3M | 43.1M | 49.4M | 67.5M | 176.2M |
| Operating expenses | 16.6M | 25M | 50.7M | 75M | 102.3M | 148.7M | 167.6M | 171.3M | 252.1M | 384.6M |
| Operating income | -16.2M | -25M | -50.7M | -54.5M | -86.9M | -129.9M | -134.4M | -171.3M | -252.1M | -384.6M |
| Operating margin | -4.3K% | — | — | -266.2% | -564% | -690.5% | -404.8% | — | — | — |
| Non-operating income, net | 22K | -10K | 1.4M | 3.5M | 395K | -1.9M | -132K | 5.5M | 5.8M | -301K |
| Pretax income | -16.2M | -25M | -49.3M | -51M | -86.5M | -131.8M | -134.5M | -165.8M | -246.3M | -377.9M |
| Income tax | — | — | — | — | — | — | — | — | — | — |
| Net income | -16.2M | -25M | -49.3M | -51M | -86.5M | -131.8M | -134.5M | -165.8M | -246.3M | -377.9M |
| Net margin | -4.3K% | — | — | -248.9% | -561.5% | -700.5% | -405.2% | — | — | — |
| EBITDA | -15.6M | -24.4M | -49.9M | -53.2M | -85.4M | -127.3M | -131.4M | -168.5M | -250.1M | -369.4M |
| EPS | -0.91 | -1.4 | -3.15 | -1.85 | -2.81 | -3.59 | -2.26 | -1.99 | -2.47 | -3.29 |
| Diluted EPS | -0.91 | -1.4 | -3.15 | -1.85 | -2.81 | -3.59 | -2.26 | -1.99 | -2.47 | -3.29 |
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 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cost of revenue | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — | — | — | — | — | — |
| Research & development | 30.3M | 35M | 43.1M | 42.4M | 48.7M | 50.4M | 48.7M | 62.4M | 50.5M | 46.9M | 51.8M | 58.2M |
| Selling, general & administrative | 13.3M | 13.1M | 15.3M | 17.1M | 16.1M | 19M | 28.4M | 49.7M | 53.1M | 45M | 50.2M | 50.7M |
| Operating expenses | 43.7M | 48M | 58.4M | 59.5M | 64.8M | 69.4M | 77.1M | 112.1M | 103.5M | 91.9M | 102M | 108.9M |
| Operating income | -43.7M | -48M | -58.4M | -59.5M | -64.8M | -69.4M | -77.1M | -112.1M | -103.5M | -91.9M | -102M | -108.9M |
| Operating margin | — | — | — | — | — | — | — | — | — | — | — | — |
| Non-operating income, net | 1.3M | 1.9M | 1.6M | 990K | 301K | 2.9M | 2.4M | -127K | -69K | -61K | -4.1M | -570K |
| Pretax income | -42.4M | -46.1M | -56.9M | -58.5M | -64.5M | -66.5M | -74.7M | -110M | -102.2M | -91M | -105.5M | -109.9M |
| Income tax | — | — | — | — | — | — | — | — | — | — | — | — |
| Net income | -42.4M | -46.1M | -56.9M | -58.5M | -64.5M | -66.5M | -74.7M | -110M | -102.2M | -91M | -105.5M | -109.9M |
| Net margin | — | — | — | — | — | — | — | — | — | — | — | — |
| EBITDA | -43M | -47.4M | -57.8M | -59M | -64.3M | -69M | -76.7M | -108.4M | -100.5M | -88M | -99.5M | -105.1M |
| EPS | -0.53 | — | -0.59 | -0.6 | -0.66 | — | -0.67 | -0.98 | -0.9 | -0.88 | -0.83 | -0.84 |
| Diluted EPS | -0.53 | — | -0.59 | -0.6 | -0.66 | — | -0.67 | -0.98 | -0.9 | -0.88 | -0.83 | -0.84 |
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 | — | — | — | — | — | — | — | — | — | — | 6B |
| Enterprise value | — | — | — | — | — | — | — | — | — | — | 5.6B |
| Shares outstanding | 17.9M | 17.9M | 15.7M | 27.5M | 30.7M | 36.7M | 59.6M | 83.3M | 99.8M | 114.7M | 114.7M |
| Metric | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E | — | — | — | — | — | — | — | — | — | — | -14.9 |
| P/B | — | — | — | — | — | — | — | — | — | — | 23.3 |
| EV/EBITDA | — | — | — | — | — | — | — | — | — | — | -13.9 |
| Earnings yield | — | — | — | — | — | — | — | — | — | — | -6.7% |
| FCF yield | — | — | — | — | — | — | — | — | — | — | -2.57% |
| PEG | — | — | — | — | — | — | — | — | — | — | 1.05 |
| Metric | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating margin | -4.3K% | — | — | -266.2% | -564% | -690.5% | -404.8% | — | — | — | 0% |
| Net margin | -4.3K% | — | — | -248.9% | -561.5% | -700.5% | -405.2% | — | — | — | 0% |
| ROE | 54% | 46.7% | -46.3% | -45.2% | -33.2% | -76.6% | -51.7% | -73.6% | -66.8% | -154% | -167.8% |
| ROA | -49.4% | -40.6% | -27.2% | -26% | -22.3% | -43.3% | -37.6% | -53.3% | -51.9% | -93.5% | -58.8% |
| Return on tangible assets | -49.4% | -40.6% | -27.2% | -26% | -22.3% | -43.3% | -37.6% | -53.3% | -52.4% | -93.5% | -78% |
| Metric | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current ratio | 9.48 | 11.8 | 5.72 | 5.64 | 8.09 | 4.13 | 9.01 | 8.8 | 9.61 | 6.95 | 7.02 |
| Quick ratio | 9.48 | 11.8 | 5.72 | 5.64 | 8.09 | 4.13 | 9.01 | 8.8 | 9.61 | 6.95 | 7.02 |
| Debt / equity | -0.06 | -0.02 | 0 | 0.05 | 0.22 | 0.45 | 0.27 | 0.27 | 0.18 | 0.44 | 0.8 |
| Debt / assets | 0.05 | 0.02 | 0 | 0.03 | 0.15 | 0.25 | 0.19 | 0.2 | 0.14 | 0.27 | 0.39 |
| Net debt / EBITDA | 1.69 | 2.34 | 3.51 | 2.86 | 3.32 | 1.38 | 1.87 | 1.29 | 1.49 | 0.7 | 0.73 |
| Interest coverage | — | — | — | — | — | — | — | — | — | -53.8 | -37.2 |
| Metric | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue per share | 0.02 | 0 | 0 | 0.74 | 0.5 | 0.51 | 0.56 | 0 | 0 | 0 | 0 |
| EPS (basic) | -0.91 | -1.4 | -3.15 | -1.85 | -2.81 | -3.59 | -2.26 | -1.99 | -2.47 | -3.29 | -3.29 |
| EPS (diluted) | -0.91 | -1.4 | -3.15 | -1.85 | -2.81 | -3.59 | -2.26 | -1.99 | -2.47 | -3.29 | -3.31 |
| Book value per share | -1.68 | -2.99 | 6.81 | 4.1 | 8.48 | 4.69 | 4.37 | 2.7 | 3.69 | 2.14 | 2.09 |
| FCF per share | -0.89 | -1.23 | 1.47 | -2.41 | -2.09 | -3.6 | -2.24 | -1.74 | -2.01 | -2.62 | -2.27 |
| Cash per share | 1.57 | 3.24 | 11.2 | 5.72 | 11.1 | 6.89 | 5.29 | 3.36 | 4.38 | 3.2 | 4.04 |
| Capex per share | 0.04 | 0.02 | 0.1 | 0.11 | 0.13 | 0.14 | 0.02 | 0 | 0 | — | — |
| Metric | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Capex / revenue | 209.5% | — | — | 15.2% | 26.5% | 27.9% | 3.21% | — | — | — | — |
| Capex / operating cash flow | -5.35% | -1.6% | 6.83% | -4.9% | -6.61% | -4.27% | -0.78% | -0.04% | -0.05% | — | — |
| Payout ratio | — | — | — | — | — | — | — | — | — | — | 0% |
| — |
| FY21 | — | -$3.59 | — | — | $18.8M | — |
| FY20 | — | -$2.81 | — | — | $15.4M | — |
| FY19 | — | -$1.85 | — | — | $20.5M | — |
| FY18 | — | -$3.15 | — | — | $0 | — |
| FY17 | — | -$1.4 | — | — | $0 | — |
| FY16 | — | -$0.91 | — | — | $379K | — |
| 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 | $0 | $0 | $0 | $0 | $0 | $0 |
| YoY change | 0% | 0% | 0% | 0% | 0% | 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 | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & short-term investments | 28M | 58M | 175.6M | 157.4M | 341M | 253M | 315.4M | 279.9M | 437.3M | 367.6M |
| Receivables | — | — | 0 | 25M | 0 | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — | — | — | — |
| Total current assets | 28.5M | 59.2M | 177.9M | 185.2M | 344.4M | 265.3M | 328M | 288.2M | 451.2M | 385.1M |
| Property, plant & equipment | 2.4M | 2.2M | 3.2M | 8.6M | 40.4M | 35M | 25.9M | 16M | 18.4M | 12.1M |
| Goodwill & intangibles | — | — | — | — | — | — | — | — | 4.8M | — |
| Total assets | 32.8M | 61.6M | 181.3M | 196.4M | 388.3M | 304.4M | 358.2M | 311M | 474.9M | 404.3M |
| Accounts payable | 663K | 1.4M | 3.3M | 1.1M | 3.4M | 4.4M | 4M | 3.5M | 10.1M | 10.3M |
| Short-term debt | 647K | 641K | 424K | 1.1M | 5.4M | 9M | 7.9M | 8.7M | 5.8M | 5.5M |
| Total current liabilities | 3M | 5M | 31.1M | 32.8M | 42.6M | 64.3M | 36.4M | 32.7M | 46.9M | 55.4M |
| Long-term debt | 1M | 398K | 0 | 4.2M | 51.8M | 68.1M | 61.5M | 53.1M | 59.4M | 103.4M |
| Total liabilities | 62.8M | 115.2M | 74.7M | 83.5M | 127.5M | 132.4M | 97.9M | 85.8M | 106.3M | 158.8M |
| Shareholders' equity | -30M | -53.5M | 106.6M | 112.9M | 260.8M | 172.1M | 260.2M | 225.2M | 368.6M | 245.5M |
| Total debt | 1.7M | 1M | 424K | 5.3M | 57.1M | 77.1M | 69.4M | 61.8M | 65.1M | 108.9M |
| Net debt | -8.4M | -55.4M | -114.6M | -31M | -103.2M | -135.8M | -33.9M | -40M | -112.8M | -214.6M |
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 | 151M | 178.1M | 146.5M | 97.1M | 62.7M | 259.4M | 226.4M | 142.1M | 369.6M | 367.6M | 479.9M | 492.1M |
| Receivables | — | — | — | — | — | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current assets | — | — | — | — | — | — | — | — | 390.7M | 385.1M | 515.3M | 507.2M |
| Property, plant & equipment | — | — | — | — | — | — | — | — | 13.9M | 12.1M | 11.6M | 9.8M |
| Goodwill & intangibles | — | — | — | — | — | — | — | — | — | — | — | — |
| Total assets | — | — | — | — | — | — | — | — | 411.7M | 404.3M | 535.3M | 523.5M |
| Accounts payable | — | — | — | — | — | — | — | — | 6.8M | 10.3M | 9.2M | 11M |
| Short-term debt | — | — | — | — | — | — | — | — | 5.3M | 5.5M | 6.1M | 6.3M |
| Total current liabilities | — | — | — | — | — | — | — | — | 62M | 55.4M | 59.6M | 72.2M |
| Long-term debt | — | — | — | — | — | — | — | — | 104.8M | 103.4M | 199.6M | 197.5M |
| Total liabilities | — | — | — | — | — | — | — | — | 166.7M | 158.8M | 259.2M | 269.8M |
| Shareholders' equity | — | — | — | — | — | — | — | — | 245M | 245.5M | 276M | 253.8M |
| Total debt | — | — | — | — | — | — | — | — | 110.1M | 108.9M | 205.7M | 203.8M |
| Net debt | — | — | — | — | — | — | — | — | -176.7M | -214.6M | -224.9M | -233.3M |
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 | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net income | -16.2M | -25M | -49.3M | -51M | -86.5M | -131.8M | -134.5M | -165.8M | -246.3M | -377.9M |
| Depreciation & amortization | 575K | 669K | 807K | 1.3M | 1.5M | 2.6M | 3M | 2.8M | 1.9M | 1.7M |
| Stock-based compensation | 556K | 1.5M | 5.2M | 8M | 11.2M | 23.1M | 27.7M | 27.1M | 36.6M | 75.6M |
| Change in working capital | 471K | 473K | 64.9M | -22.9M | 9.5M | -23.6M | -41M | -11.2M | 1.7M | -5.9M |
| Operating cash flow | -14.8M | -22.5M | 21.8M | -63.4M | -61.9M | -122.9M | -137.2M | -139.6M | -200.5M | -300M |
| Capital expenditure | -794K | -361K | -1.5M | -3.1M | -4.1M | -5.2M | -1.1M | -58K | -98K | — |
| Investing cash flow | -20.3M | 17.7M | -60.2M | -62.2M | -63.5M | 134.3M | -171.7M | 41.1M | -76.1M | 219.3M |
| Dividends paid | — | — | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — | — | — |
| Financing cash flow | 1M | 50.5M | 94.3M | 48M | 240.5M | 38.1M | 193.4M | 97.7M | 324.3M | 140.8M |
| Net change in cash | -34.1M | 45.6M | 55.9M | -77.7M | 115.2M | 49.5M | -115.5M | -767K | 47.7M | 60.1M |
| Free cash flow | -15.9M | -22.1M | 23.1M | -66.2M | -64.4M | -132M | -133.8M | -145.3M | -201M | -300.6M |
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 | -42.4M | -46.1M | -56.9M | -58.5M | -64.5M | -66.5M | -74.7M | -110M | -102.2M | -91M | -105.5M | -109.9M |
| Depreciation & amortization | 708K | 672K | 598K | 498K | 446K | 395K | 393K | 417K | 423K | 425K | 335K | 297K |
| Stock-based compensation | 7.2M | 7M | 8.2M | 9.3M | 9.7M | 9.5M | 13.4M | 24.4M | 18.3M | 19.4M | 18.2M | 19.7M |
| Change in working capital | -2.8M | -3.4M | -2M | -871K | -732K | 5.4M | -7.1M | -5M | 4M | 2.4M | -2.6M | 2.1M |
| Operating cash flow | -35.3M | -40.3M | -48.4M | -48.2M | -53.9M | -50M | -66.4M | -76.9M | -68.9M | -75.5M | -82.1M | -70.3M |
| Capital expenditure | 0 | 0 | -23K | -22K | -31K | -22K | -271K | — | — | — | — | — |
| Investing cash flow | -8.5M | -25.1M | 33.4M | 50.6M | 35.3M | -195.4M | 34.6M | 85.7M | 59.8M | 39M | -5.3M | -5.5M |
| Dividends paid | — | — | — | — | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — | — | — | — | — |
| Financing cash flow | 0 | 92.5M | 0 | 0 | -45K | 324.4M | -851K | 1K | 141.7M | 2K | 190.3M | 62.6M |
| Net change in cash | -43.7M | 27.1M | -15.1M | 2.4M | -18.6M | 79.1M | -32.7M | 8.7M | 132.5M | -36.5M | 102.9M | -13.2M |
| Free cash flow | -32.3M | -37.3M | -49.8M | -49.2M | -52.5M | -49.5M | -78.9M | -77.2M | -69M | -75.5M | -82.2M | -70.3M |