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 | -$0.78 | -$0.93 | -19.2% | — | $9.3M | — |
| Q1 26 | -$0.82 | -$0.79 | +3.7% | — | $6.2M | — |
| Q4 25 | -$0.74 | -$0.97 | -31.1% | — | $1.4M | — |
| Q3 25 | -$0.57 | -$0.65 | -14.0% | — | $10.6M | — |
| Q2 25 | -$0.54 | -$0.4 | +25.9% | — | $13.8M | — |
| Q1 25 | -$0.09 | $1.9 | +2211.1% | — | $158.6M | — |
| Q4 24 | -$0.53 | -$0.18 | +66.0% | — | $22.6M | — |
| Q3 24 | -$0.54 | -$0.47 | +13.0% | — | $4.9M | — |
| Q2 24 | -$0.56 | -$0.46 | +17.9% | — | $4.8M | — |
| Q1 24 | -$0.61 | -$0.57 | +6.6% | — | $4.2M | — |
| Q4 23 | -$0.63 | -$0.6 | +4.8% | — | $2.8M | — |
| Q3 23 | -$0.64 | -$0.55 | +14.1% | — | $3.3M | — |
| Q2 23 | -$0.66 | -$0.69 | -4.5% | — | -$2.5M | — |
| Q1 23 | -$0.71 | -$0.53 | +25.4% | — | $5.2M | — |
| Q4 22 | -$0.71 | -$0.65 | +8.5% | — | $3.3M | — |
| Q3 22 | -$0.68 | -$0.66 | +2.9% | — | $2.9M | — |
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 | — | -$0.12 | — | — | $184.4M | — |
| FY24 | — | -$1.65 | — | — | $36.6M | — |
| FY23 | — | -$2.38 | — | — | $8.8M | — |
| FY22 | — | -$2.6 | — | — | $12.4M | — |
Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.
| Period | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 | $0 | $12.4M | $8.8M | $36.6M | $184.4M |
| YoY change | — | 0% | 0% | 0% | 0% | +InfinityT% | -29.2% | +316.3% | +404.5% |
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 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | 0 | 0 | 12.4M | 8.8M | 36.6M | 184.4M |
| Cost of revenue | — | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — | — | — |
| Research & development | 3.6M | 8.4M | 23.8M | 32.2M | 54.2M | 77.8M | 82.2M | 89.1M | 137.9M |
| Selling, general & administrative | 2M | 4.4M | 11.9M | 20.8M | 31.9M | 38.9M | 41.3M | 48.8M | 67.1M |
| Operating expenses | 5.6M | 12.8M | 35.7M | 53M | 86.1M | 116.8M | 123.6M | 137.9M | 205M |
| Operating income | -5.6M | -12.8M | -35.7M | -53M | -86.1M | -104.4M | -114.8M | -101.4M | -20.6M |
| Operating margin | — | — | — | — | — | -841.2% | -1.3K% | -277.3% | -11.2% |
| Non-operating income, net | -4K | -10K | 2K | 101K | 140K | 167K | 166K | -247K | -51K |
| Pretax income | -5.6M | -12.5M | -32.3M | -52.2M | -85.8M | -101.1M | -104.7M | -89M | -6.9M |
| Income tax | — | — | — | — | — | — | — | — | — |
| Net income | -5.6M | -12.5M | -32.3M | -52.2M | -85.8M | -101.1M | -104.7M | -89M | -6.9M |
| Net margin | — | — | — | — | — | -814.7% | -1.2K% | -243.4% | -3.73% |
| EBITDA | -5.4M | -12.6M | -35.2M | -52.2M | -85.1M | -102.8M | -112.3M | -99.2M | -18.8M |
| EPS | -0.43 | -0.53 | -1.8 | -1.56 | -2.34 | -2.6 | -2.38 | -1.65 | -0.12 |
| Diluted EPS | -0.43 | -0.53 | -1.8 | -1.56 | -2.34 | -2.6 | -2.38 | -1.65 | -0.12 |
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 | 3.3M | 2.8M | 4.2M | 4.8M | 4.9M | 22.6M | 158.6M | 13.8M | 10.6M | 1.4M | 6.2M | 9.3M |
| Cost of revenue | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — | — | — | — | — | — |
| Research & development | 20.3M | 21.8M | 22.4M | 21.1M | 22.2M | 23.4M | 32.7M | 25.9M | 37.7M | 41.7M | 39.7M | 49.5M |
| Selling, general & administrative | 10.3M | 10.6M | 10.2M | 13M | 12.7M | 12.8M | 14.7M | 15.3M | 16M | 21.1M | 20M | 25.3M |
| Operating expenses | 30.5M | 32.4M | 32.6M | 34.2M | 34.9M | 36.3M | 47.3M | 41.1M | 53.7M | 62.8M | 59.6M | 74.8M |
| Operating income | -27.2M | -29.6M | -28.4M | -29.3M | -30M | -13.7M | 111.2M | -27.3M | -43.1M | -61.4M | -53.4M | -65.4M |
| Operating margin | -823.3% | -1.1K% | -673% | -607.4% | -613.1% | -60.4% | 70.2% | -197.6% | -405.3% | -4.4K% | -857.6% | -701.7% |
| Non-operating income, net | 41K | 41K | -428K | -48K | 28K | 201K | 28K | 28K | 3K | -110K | 18K | 308K |
| Pretax income | -24.5M | -27M | -26.4M | -25.7M | -26.4M | -10.5M | 114.2M | -23.5M | -39.6M | -57.9M | -50M | -61.6M |
| Income tax | — | — | — | — | — | — | 1.3M | 0 | -1.3M | — | 0 | 0 |
| Net income | -24.5M | -27M | -26.4M | -25.7M | -26.4M | -10.5M | 112.9M | -23.5M | -38.3M | -57.9M | -50M | -61.6M |
| Net margin | -741.9% | -962.1% | -625.6% | -531.9% | -540% | -46.4% | 71.2% | -170% | -360.7% | -4.1K% | -802.7% | -660.8% |
| EBITDA | -26.6M | -29M | -27.8M | -28.8M | -29.5M | -13.1M | 111.7M | -26.9M | -42.6M | -61M | -53M | -65M |
| EPS | -0.55 | — | -0.57 | -0.46 | -0.47 | -0.18 | 1.95 | -0.4 | -0.65 | — | -0.79 | -0.93 |
| Diluted EPS | -0.55 | — | -0.57 | -0.46 | -0.47 | -0.18 | 1.9 | -0.4 | -0.65 | — | -0.79 | -0.93 |
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 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|---|
| Market cap | — | — | — | — | 881.4M | 359M | — | — | 1.9B | 1.6B |
| Enterprise value | — | — | — | — | 663.1M | 131.8M | — | — | 1.6B | 1.3B |
| Shares outstanding | 12.8M | 23.5M | 18M | 33.5M | 36.7M | 38.9M | 44M | 54M | 59.2M | 59.2M |
| Metric | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|---|
| P/E | — | — | — | — | — | — | — | — | — | 48.8 |
| P/S | — | — | — | — | — | 28.9 | — | — | 10.2 | 57.8 |
| P/B | — | — | — | — | 4.05 | 1.94 | — | — | 5.33 | 4.47 |
| EV/EBITDA | — | — | — | — | -7.79 | -1.28 | — | — | -84.9 | -5.91 |
| EV/Sales | — | — | — | — | — | 10.6 | — | — | 8.66 | 47.5 |
| Earnings yield | — | — | — | — | — | — | — | — | — | 2.05% |
| FCF yield | — | — | — | — | -7.73% | -9.98% | — | — | 2.39% | -6.45% |
| PEG | — | — | — | — | — | — | — | — | — | 0.37 |
| Metric | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating margin | — | — | — | — | — | -841.2% | -1.3K% | -277.3% | -11.2% | -701.7% |
| Net margin | — | — | — | — | — | -814.7% | -1.2K% | -243.4% | -3.73% | 0% |
| ROE | 430.2% | -11.9% | -14.4% | -18.3% | -39.4% | -54.7% | -65.6% | -38.9% | -1.95% | -61.1% |
| ROA | -227.9% | -11.6% | -14.1% | -17.5% | -35.9% | -39.5% | -45.9% | -32.8% | -1.65% | -35.9% |
| Return on tangible assets | -227.9% | -11.6% | -14.1% | -17.5% | -35.9% | -39.5% | -45.9% | -32.8% | -1.65% | -52.8% |
| Metric | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|---|
| Current ratio | 0.51 | 43 | 55.1 | 25.7 | 13.4 | 7.77 | 6.99 | 5.81 | 5.28 | 7.69 |
| Quick ratio | 0.51 | 43 | 55.1 | 25.7 | 13.4 | 7.77 | 6.99 | 5.81 | 5.28 | 7.69 |
| Debt / equity | — | — | — | 0 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 |
| Debt / assets | — | — | — | 0 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0 |
| Net debt / EBITDA | — | — | — | 5.49 | 2.57 | 2.21 | 1.77 | 2.16 | 15 | 1.31 |
| Metric | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue per share | 0 | 0 | 0 | 0 | 0 | 0.32 | 0.2 | 0.68 | 3.11 | 0.44 |
| EPS (basic) | -0.43 | -0.53 | -1.8 | -1.56 | -2.34 | -2.6 | -2.38 | -1.65 | -0.12 | -0.12 |
| EPS (diluted) | -0.43 | -0.53 | -1.8 | -1.56 | -2.34 | -2.6 | -2.38 | -1.65 | -0.12 | -3.39 |
| Book value per share | -0.1 | 4.47 | 12.5 | 8.54 | 5.93 | 4.75 | 3.63 | 4.24 | 5.95 | 5.54 |
| FCF per share | -0.43 | -0.51 | -1.82 | -1.29 | -1.85 | -0.92 | -1.88 | -1.61 | 0.76 | -2.74 |
| Cash per share | 0.14 | 4.48 | 12.4 | 8.58 | 5.98 | 5.9 | 4.58 | 4.02 | 4.81 | 4.54 |
| Capex per share | 0.01 | 0.04 | 0.09 | 0.03 | 0.03 | 0.1 | 0.04 | 0 | — | — |
| Metric | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|---|
| Capex / revenue | — | — | — | — | — | 31.9% | 18.4% | 0.56% | — | — |
| Capex / operating cash flow | -2.09% | -7.66% | -5.46% | -2.36% | -1.79% | -17.3% | -2.07% | -0.23% | — | — |
| Payout ratio | — | — | — | — | — | — | — | — | — | 0% |
| FY21 | — | -$2.34 | — | — | $0 | — |
| FY20 | — | -$1.56 | — | — | $0 | — |
| FY19 | — | -$1.8 | — | — | $0 | — |
| FY18 | — | -$0.53 | — | — | $0 | — |
| FY17 | — | -$0.43 | — | — | $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 | $3.3M | $2.8M | $4.2M | $4.8M | $4.9M | $22.6M | $158.6M | $13.8M | $10.6M | $1.4M | $6.2M | $9.3M |
| YoY change | +13.9% | -14.3% | -18.2% | +294.7% | +47.9% | +707.1% | +3.7K% | +186% | +117.2% | -93.8% | -96.1% | -32.5% |
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 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|
| Cash & short-term investments | 1.8M | 105.4M | 222.5M | 287.3M | 219.8M | 229.6M | 201.4M | 216.9M | 284.7M |
| Receivables | — | — | — | — | — | — | — | — | 5.9M |
| Inventory | — | — | — | — | — | — | — | — | — |
| Total current assets | 1.9M | 106.1M | 226M | 293.9M | 229.2M | 244.1M | 215.3M | 232.8M | 305.7M |
| Property, plant & equipment | 473K | 1.2M | 2.5M | 3.8M | 9.1M | 11.4M | 12.4M | 8.3M | 6.2M |
| Goodwill & intangibles | — | — | — | — | — | — | — | — | — |
| Total assets | 2.4M | 107.5M | 228.8M | 297.9M | 238.9M | 256.1M | 228.3M | 271.6M | 418.4M |
| Accounts payable | 141K | 1.1M | 751K | 1.5M | 2.4M | 766K | 1.7M | 2.5M | 4.9M |
| Short-term debt | — | — | — | 1.1M | 1.5M | 2.4M | 2.1M | 2.3M | 3M |
| Total current liabilities | 3.7M | 2.5M | 4.1M | 11.4M | 17.1M | 31.4M | 30.8M | 40.1M | 57.9M |
| Long-term debt | — | — | — | — | — | — | — | — | — |
| Total liabilities | 3.7M | 2.5M | 4.3M | 11.8M | 21.1M | 71.2M | 68.8M | 42.5M | 66M |
| Shareholders' equity | -1.3M | 105.1M | 224.4M | 286.1M | 217.8M | 184.8M | 159.6M | 229M | 352.5M |
| Total debt | — | — | — | 1.1M | 1.5M | 2.4M | 2.1M | 2.3M | 3M |
| Net debt | — | — | — | -286.2M | -143.4M | -111.2M | -189.4M | -125.7M | -81.2M |
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 | 214.7M | 201.4M | 178.6M | 282M | 239.2M | 216.9M | 357.3M | 247.7M | 248.3M | 284.7M | 343.5M | 292.8M |
| Receivables | — | — | — | — | — | — | — | — | 9.2M | 5.9M | 4.5M | 7.2M |
| Inventory | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current assets | 230M | 215.3M | 193.3M | 297M | 253.6M | 232.8M | 375.7M | 270M | 272.4M | 305.7M | 366.7M | 322.5M |
| Property, plant & equipment | 9.3M | 12.4M | 11.3M | 10.3M | 9.3M | 8.3M | 7.4M | 6.6M | 6.8M | 6.2M | 5.9M | 6.7M |
| Goodwill & intangibles | — | — | — | — | — | — | — | — | — | — | — | — |
| Total assets | 239.9M | 228.3M | 205.2M | 307.8M | 293.3M | 271.6M | 406.9M | 384.5M | 360.3M | 418.4M | 443.3M | 394M |
| Accounts payable | 3.1M | 1.7M | 2.1M | 3.9M | 2.5M | 2.5M | 2.2M | 4.3M | 5.9M | 4.9M | 6.8M | 4.8M |
| Short-term debt | 2.5M | 2.1M | 2.2M | 2.3M | 2.3M | 2.3M | 2.4M | 2.3M | 2.9M | 3M | 2.4M | 1.8M |
| Total current liabilities | 25.2M | 30.8M | 35.6M | 44.5M | 49.9M | 40.1M | 44.7M | 38.7M | 41.7M | 57.9M | 40.8M | 41.9M |
| Long-term debt | — | — | — | — | — | — | — | — | — | — | — | — |
| Total liabilities | 66.9M | 68.8M | 64.8M | 65M | 61.2M | 42.5M | 56.8M | 49.6M | 52.2M | 66M | 48.4M | 48.4M |
| Shareholders' equity | 173M | 159.6M | 140.3M | 242.7M | 232.1M | 229M | 350.1M | 334.9M | 308.1M | 352.5M | 394.9M | 345.5M |
| Total debt | 2.5M | 2.1M | 2.2M | 2.3M | 2.3M | 2.3M | 2.4M | 2.3M | 2.9M | 3M | 2.4M | 1.8M |
| Net debt | -187.5M | -189.4M | -176.4M | -191.2M | -147.7M | -125.7M | -272.5M | -99.2M | -80.5M | -81.2M | -153.2M | -108.2M |
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 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|
| Net income | -5.6M | -12.5M | -32.3M | -52.2M | -85.8M | -101.1M | -104.7M | -89M | -6.9M |
| Depreciation & amortization | 113K | 214K | 450K | 888K | 974K | 1.5M | 2.5M | 2.2M | 1.8M |
| Stock-based compensation | 26K | 240K | 1.9M | 5.8M | 16.4M | 22.9M | 25.3M | 27.5M | 32.2M |
| Change in working capital | 3K | -10K | 28K | — | — | 51.7M | -3.4M | -29.4M | -4.4M |
| Operating cash flow | -5.4M | -12.1M | -29.9M | -44.5M | -67.1M | -22.9M | -78.1M | -86.5M | 45.6M |
| Capital expenditure | -113K | -925K | -1.6M | -1.1M | -1.2M | -4M | -1.6M | -203K | — |
| Investing cash flow | -113K | -925K | -1.6M | -1.1M | -76.4M | -45.9M | 105.9M | -107.5M | -186.1M |
| Dividends paid | — | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — | — |
| Financing cash flow | 3M | 115.6M | 149.4M | 104.9M | -2K | 45.3M | 52.1M | 128.8M | 87.8M |
| Net change in cash | -2.6M | 102.6M | 117.9M | 59.3M | -143.6M | -23.5M | 80M | -65.1M | -52.8M |
| Free cash flow | -5.5M | -11.9M | -32.7M | -43.3M | -68.1M | -35.8M | -82.7M | -87.1M | 44.9M |
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 | 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 | -24.5M | -27M | -26.4M | -25.7M | -26.4M | -10.5M | 112.9M | -23.5M | -38.3M | -57.9M | -50M | -61.6M |
| Depreciation & amortization | 637K | 624K | 563K | 548K | 540K | 526K | 477K | 446K | 442K | 405K | 439K | 458K |
| Stock-based compensation | 6.6M | 6.1M | 5.4M | 7.4M | 7.5M | 7.1M | 6.8M | 7.6M | 8M | 9.8M | 8.8M | 10.8M |
| Change in working capital | -1.9M | -1.1M | -4.3M | 614K | -3.1M | -20.9M | 14.2M | -7.3M | -15.4M | 7.9M | -16.4M | -2.6M |
| Operating cash flow | -18.6M | -20.8M | -24.2M | -16.5M | -20.9M | -23.1M | 134.9M | -25.4M | -30.4M | -30.5M | -60.6M | -56.6M |
| Capital expenditure | -383K | -229K | -12K | -46K | -103K | -42K | -152K | — | — | — | — | — |
| Investing cash flow | 14.6M | 14.8M | 10M | -88.3M | -30M | 819K | 13.6M | -148.3M | 9.2M | -60.8M | 51M | 11M |
| Dividends paid | — | — | — | — | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — | — | — | — | — |
| Financing cash flow | 0 | 7.3M | 1.3M | 119.9M | 7.7M | 1K | 0 | 0 | 0 | 87.8M | 80.7M | 0 |
| Net change in cash | -4M | 1.3M | -12.9M | 15.1M | -43.3M | -22.3M | 148.5M | -173.7M | -21.1M | -3.5M | 71.1M | -45.6M |
| Free cash flow | -17.6M | -20.9M | -24.6M | -17.5M | -21.7M | -23.2M | 131.7M | -25.6M | -30.5M | -30.7M | -60.9M | -58.6M |