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 % |
|---|---|---|---|---|---|---|
| Q3 26 | -$1.26 | -$2.1 | -66.7% | — | — | — |
| Q2 26 | -$0.72 | -$4.63 | -543.1% | — | — | — |
| Q1 26 | -$1.24 | -$9.62 | -675.8% | — | — | — |
| Q4 25 | -$1.17 | -$3.6 | -207.7% | — | — | — |
| Q3 25 | -$1.23 | -$1.14 | +7.3% | — | — | — |
| Q2 25 | -$1.09 | $7.92 | +826.6% | — | — | — |
| Q1 25 | -$2.54 | -$9.1 | -258.3% | — | $983K | — |
| Q3 24 | -$2.77 | -$0.44 | +84.1% | — | $10M | — |
| Q2 24 | -$2.79 | -$7.99 | -186.4% | — | $0 | — |
| Q1 24 | -$4.25 | -$4.24 | +0.2% | — | $0 | — |
| Q3 23 | -$0.29 | -$0.34 | -17.2% | — | $0 | — |
| Q2 23 | -$0.41 | -$0.31 | +24.4% | — | $0 | — |
| Q1 23 | -$0.37 | -$0.48 | -29.7% | — | $0 | — |
| Q4 22 | -$0.43 | -$0.03 | +93.0% | — | $12.5M | — |
| Q3 22 | -$0.43 | -$0.38 | +11.6% | — | $0 | — |
| Q2 22 | -$0.46 | -$0.4 | +13.0% | — | $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 | — | -$32.4 | — | — | $3.5M | — |
| FY24 | — | -$21.7 | — | — | $10.7M | — |
| FY23 | — | -$21.3 | — | — | $0 | — |
| FY22 | — | -$15.6 | — | — | $12.5M | — |
| FY21 | — | -$33.1 | — |
Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.
| Period | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $12.5M | $0 | $10.7M | $3.5M |
| YoY change | — | 0% | +InfinityT% | -100% | +InfinityT% | -67.4% |
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 | Q2 24 | Q3 24 |
|---|
Revenue, gross profit, operating income, and net income per period.
Click a row to chart it; unreported figures show a dash.
| Period | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|
| Revenue | 0 | 0 | 12.5M | 0 | 10.7M | 3.5M |
| Cost of revenue | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — |
| Research & development | 25.7M | 40.2M | 37M | 27.2M | 21.1M | 29.4M |
| Selling, general & administrative | 7.1M | 14.2M | 19.8M | 15.8M | 15.1M | 16.2M |
| Operating expenses | 32.8M | 54.4M | 56.8M | 43M | 36.2M | 45.6M |
| Operating income | -32.8M | -54.4M | -44.3M | -43M | -25.5M | -42.1M |
| Operating margin | — | — | -354.7% | — | -239.7% | -1.2K% |
| Non-operating income, net | — | -329K | 7.6M | -2.4M | -39.7M | -203M |
| Pretax income | -32.7M | -54.6M | -36M | -43M | -63.6M | -242M |
| Income tax | — | — | — | — | — | — |
| Net income | -32.7M | -54.6M | -36M | -43M | -63.6M | -242M |
| Net margin | — | — | -288% | — | -596.6% | -7K% |
| EBITDA | -30.9M | -52.3M | -42.4M | -38.4M | -24.1M | 135.1M |
| EPS | -14 | -33.1 | -15.6 | -21.3 | -21.7 | -32.4 |
| Diluted EPS | -14 | -33.1 | -15.6 | -21.3 | -21.7 | -32.4 |
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 | 10M | 655K | 983K | 983K | 983K | 528K | 5M | 5M |
| Cost of revenue | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — | — | — | — | — | — |
| Research & development | 6.1M | 6.1M | 5.2M | 5.3M | 5.2M | 5.3M | 6.6M | 6M | 7.8M | 9M | 9.3M | 8.5M |
| Selling, general & administrative | 3.6M | 3.6M | 3.9M | 3.7M | 3.6M | 3.9M | 4M | 4M | 4.1M | 4.2M | 6.1M | 6.9M |
| Operating expenses | 9.7M | 9.7M | 9.1M | 9M | 8.8M | 9.2M | 10.5M | 10M | 11.9M | 13.2M | 15.5M | 15.4M |
| Operating income | -9.7M | -9.7M | -9.1M | -9M | 1.2M | -8.6M | -9.6M | -9M | -10.9M | -12.6M | -10.5M | -10.4M |
| Operating margin | — | — | — | — | 12.3% | -1.3K% | -971.6% | -917.3% | -1.1K% | -2.4K% | -209.1% | -207.4% |
| Non-operating income, net | -1.4M | 262K | -85K | -16.7M | -3.1M | -19.8M | -17.7M | 47.7M | -61.7M | -171.3M | -118M | 59.6M |
| Pretax income | -10.4M | -8.9M | -8.8M | -25.3M | -1.4M | -28M | -27M | 39.7M | -71.6M | -183.2M | -127.5M | 50.2M |
| Income tax | — | — | — | — | — | — | — | — | — | — | — | — |
| Net income | -10.4M | -8.9M | -8.8M | -25.3M | -1.4M | -28M | -27M | 39.7M | -71.6M | -183.2M | -127.5M | 50.2M |
| Net margin | — | — | — | — | -14.3% | -4.3K% | -2.7K% | 4K% | -7.3K% | -34.7K% | -2.6K% | 1K% |
| EBITDA | -7.7M | -9.2M | -8.7M | -8.7M | 1.6M | -8.3M | 46.4M | -40.4M | 29.9M | 99.1M | -10.4M | -49.6M |
| EPS | -5.14 | — | -4.24 | -7.99 | -0.44 | — | -7.43 | 2.55 | -8.36 | — | -11.7 | 2.75 |
| Diluted EPS | -5.14 | — | -4.24 | -7.99 | -0.44 | — | -7.43 | 2.55 | -8.36 | — | -11.7 | -0.41 |
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 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| Market cap | — | — | — | — | — | — | 348.4M |
| Enterprise value | — | — | — | — | — | — | 251.5M |
| Shares outstanding | 2.3M | 1.6M | 2.3M | 2M | 2.9M | 7.5M | 7.5M |
| Metric | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| P/E | — | — | — | — | — | — | -0.92 |
| P/S | — | — | — | — | — | — | 30.4 |
| P/B | — | — | — | — | — | — | -1.58 |
| EV/EBITDA | — | — | — | — | — | — | -5.7 |
| EV/Sales | — | — | — | — | — | — | 21.8 |
| Earnings yield | — | — | — | — | — | — | -109.1% |
| FCF yield | — | — | — | — | — | — | -6.24% |
| PEG | — | — | — | — | — | — | -0.12 |
| Metric | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| Operating margin | — | — | -354.7% | — | -239.7% | -1.2K% | -207.4% |
| Net margin | — | — | -288% | — | -596.6% | -7K% | 0% |
| ROE | -69.2% | -49.8% | -47.4% | -113.5% | 297.3% | 128.9% | 128.9% |
| ROA | -52.7% | -39.8% | -40.3% | -93.4% | -131.1% | -245.1% | -25.4% |
| Return on tangible assets | -52.7% | -39.8% | -40.3% | -93.4% | -131.1% | -245.1% | -287.3% |
| Metric | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| Current ratio | 6.9 | 7.75 | 8.35 | 5.75 | 5.32 | 9.22 | 12.1 |
| Quick ratio | 6.9 | 7.75 | 8.35 | 5.75 | 5.32 | 9.22 | 12.1 |
| Debt / equity | 0.2 | 0.07 | 0.07 | 0.09 | -0.4 | -0.04 | -0 |
| Debt / assets | 0.15 | 0.06 | 0.06 | 0.07 | 0.17 | 0.07 | 0.05 |
| Net debt / EBITDA | 1.28 | 1.8 | 1.66 | 0.85 | 1.08 | -0.61 | -1.39 |
| Metric | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| Revenue per share | 0 | 0 | 5.4 | 0 | 3.63 | 0.46 | 1.14 |
| EPS (basic) | -14 | -33.1 | -15.6 | -21.3 | -21.7 | -32.4 | -32.4 |
| EPS (diluted) | -14 | -33.1 | -15.6 | -21.3 | -21.7 | -32.4 | -40.1 |
| Book value per share | 20.3 | 66.6 | 32.8 | 18.8 | -7.29 | -25.1 | -18.6 |
| FCF per share | -12.8 | -30.4 | -19.4 | -20.2 | -6.02 | -4.06 | -1.51 |
| Cash per share | 21.1 | 61.9 | 32.8 | 17.9 | 11.8 | 11.9 | 8.68 |
| Capex per share | 0.37 | 0.77 | 0.31 | 0.2 | 0.01 | — | — |
| Metric | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| Capex / revenue | — | — | 5.82% | — | 0.24% | — | — |
| Capex / operating cash flow | -2.89% | -2.5% | -2.11% | -1.05% | -0.04% | — | — |
| Payout ratio | — | — | — | — | — | — | 0% |
| — |
| $0 |
| — |
| FY20 | — | -$14 | — | — | $0 | — |
| Q4 24 |
|---|
| Q1 25 |
|---|
| Q2 25 |
|---|
| Q3 25 |
|---|
| Q4 25 |
|---|
| Q1 26 |
|---|
| Q2 26 |
|---|
| Revenue | $0 | $0 | $0 | $0 | $10M | $655K | $983K | $983K | $983K | $528K | $5M | $5M |
| YoY change | 0% | -100% | 0% | 0% | +InfinityT% | +InfinityT% | +InfinityT% | +InfinityT% | -90.2% | -19.4% | +408.6% | +408.6% |
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 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|
| Cash & short-term investments | 49.2M | 101.9M | 75.8M | 36M | 34.6M | 89.2M |
| Receivables | — | 0 | 2M | 2.2M | 2M | 0 |
| Inventory | — | — | — | — | — | — |
| Total current assets | 50.2M | 105.2M | 81.3M | 41.1M | 38.9M | 91.6M |
| Property, plant & equipment | 11.4M | 9.4M | 6.9M | 3.9M | 8.4M | 6.4M |
| Goodwill & intangibles | — | — | — | — | — | — |
| Total assets | 62.1M | 137.2M | 89.4M | 46.1M | 48.5M | 98.7M |
| Accounts payable | 1.8M | 2.7M | 658K | 525K | 306K | 728K |
| Short-term debt | 2.1M | 2.2M | 2.2M | 2.5M | 1.8M | 1.3M |
| Total current liabilities | 7.3M | 13.6M | 9.7M | 7.1M | 7.3M | 9.9M |
| Long-term debt | 7.5M | 5.6M | 3.4M | 882K | 6.6M | 5.3M |
| Total liabilities | 14.8M | 27.5M | 13.4M | 8.1M | 69.8M | 286.5M |
| Shareholders' equity | 47.3M | 109.7M | 76M | 37.9M | -21.4M | -187.8M |
| Total debt | 9.6M | 7.8M | 5.6M | 3.4M | 8.5M | 6.6M |
| Net debt | -25.4M | -25.3M | -19.1M | -32.7M | -26.1M | -82.6M |
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 | 43.4M | 36M | 27.3M | 37.8M | 31M | 34.6M | 101.6M | 90.4M | 81.3M | 89.2M | 106.9M | 102M |
| Receivables | 2M | 2.2M | 2.1M | 2.1M | 12.2M | 2M | 2.1M | 2.3M | 2.3M | 0 | 5M | 5M |
| Inventory | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current assets | 48.4M | 41.1M | 32M | 41.6M | 45.3M | 38.9M | 106M | 94.2M | 85.9M | 91.6M | 113.9M | 109.4M |
| Property, plant & equipment | 4.8M | 3.9M | 3.1M | 2.4M | 1.7M | 8.4M | 7.6M | 7.1M | 6.6M | 6.4M | 6M | 5.6M |
| Goodwill & intangibles | — | — | — | — | — | — | — | — | — | — | — | — |
| Total assets | 54M | 46.1M | 36.7M | 45.1M | 48M | 48.5M | 114.8M | 102.7M | 94M | 98.7M | 120.7M | 115.6M |
| Accounts payable | 287K | 525K | 131K | 173K | 276K | 306K | 302K | 354K | 538K | 728K | 889K | 1.1M |
| Short-term debt | 2.4M | 2.5M | 2.6M | 2.2M | 1.5M | 1.8M | 1.2M | 1.2M | 1.2M | 1.3M | 1.9M | 2M |
| Total current liabilities | 6.7M | 7.1M | 6.2M | 6M | 6.1M | 7.3M | 10.6M | 5.7M | 6.5M | 9.9M | 9.6M | 9M |
| Long-term debt | 1.5M | 882K | 223K | 0 | 0 | 6.6M | 6.8M | 6.3M | 5.8M | 5.3M | 4.9M | 4.3M |
| Total liabilities | 8.4M | 8.1M | 6.6M | 39M | 42.3M | 69.8M | 109.2M | 55.6M | 117.6M | 286.5M | 398.9M | 334.3M |
| Shareholders' equity | 45.5M | 37.9M | 30.1M | 6.1M | 5.7M | -21.4M | 5.7M | 47.1M | -23.5M | -187.8M | -278.1M | -218.7M |
| Total debt | 4M | 3.4M | 2.8M | 2.2M | 1.5M | 8.5M | 8M | 7.5M | 7.1M | 6.6M | 6.8M | 6.3M |
| Net debt | -30M | -32.7M | -24.5M | -35.6M | -29.5M | -26.1M | -93.7M | -82.9M | -74.3M | -82.6M | -100.1M | -95.7M |
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 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|
| Net income | -32.7M | -54.6M | -36M | -43M | -63.6M | -242M |
| Depreciation & amortization | 1.9M | 2.1M | 2M | 1.9M | 1.4M | 537K |
| Stock-based compensation | 635K | 2.3M | 4.5M | 4.4M | 4.1M | 3.8M |
| Change in working capital | -1.1M | -1.7M | -6.6M | -2.3M | -3M | 717K |
| Operating cash flow | -30.3M | -50.7M | -34.5M | -37.8M | -59.5M | -30.2M |
| Capital expenditure | -874K | -1.3M | -728K | -398K | -26K | — |
| Investing cash flow | -15.1M | -77.7M | 38.3M | 51.7M | -26K | — |
| Dividends paid | — | — | — | — | — | — |
| Share repurchases | — | 0 | -2.6M | -4K | 0 | — |
| Financing cash flow | 49.9M | 124.2M | -2.7M | -4K | 16M | 83.8M |
| Net change in cash | 4.5M | -4.2M | 1.1M | 13.9M | -43.5M | 53.5M |
| Free cash flow | -30M | -50.1M | -44.9M | -40.8M | -17.7M | -30.4M |
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 | -10.4M | -8.9M | -8.8M | -25.3M | -1.4M | -28M | -27M | 39.7M | -71.6M | -183.2M | -127.5M | 50.2M |
| Depreciation & amortization | 483K | 451K | 392K | 386K | 342K | 322K | 294K | 137K | 61K | 45K | 65K | 51K |
| Stock-based compensation | 913K | 1.2M | 1M | 1.1M | 1M | 900K | 834K | 994K | 1M | 1M | 2.1M | 2.9M |
| Change in working capital | -450K | -318K | -982K | -554K | -10.5M | 9M | -488K | -133K | -229K | 1.6M | -4.5M | -259K |
| Operating cash flow | -9.2M | -7.3M | -8M | -3.5M | -29.1M | -18.8M | 45M | -6.1M | -9M | -5.8M | -12.5M | -7.4M |
| Capital expenditure | 0 | 0 | -7K | 0 | 0 | -19K | -27K | — | — | — | — | — |
| Investing cash flow | 7.6M | 9.5M | -7K | 0 | 0 | -19K | -27K | — | — | — | — | — |
| Dividends paid | — | — | — | — | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — | — | — | — | — |
| Financing cash flow | 0 | — | — | 16M | -1K | 0 | 76.4M | -5.2M | 0 | 12.6M | 26.9M | 0 |
| Net change in cash | -1.5M | 2.2M | -8M | 12.5M | -29.1M | -18.8M | 121.3M | -11.3M | -9M | 6.8M | 14.4M | -7.4M |
| Free cash flow | -10.1M | -7.3M | -8.8M | -5.6M | -6.8M | 3.5M | -9.3M | -6.1M | -9.1M | -5.9M | -12.6M | -7.4M |