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 | -$0.12 | -$0.12 | 0.0% | — | $0 | — |
| Q1 26 | -$0.13 | -$0.13 | 0.0% | — | $0 | — |
| Q4 25 | -$0.13 | -$0.12 | +7.7% | — | $0 | — |
| Q3 25 | -$0.15 | -$0.14 | +6.7% | — | $1M | — |
| Q2 25 | -$0.24 | -$0.24 | 0.0% | — | $0 | — |
| Q1 25 | -$0.28 | -$0.27 | +3.6% | — | $0 | — |
| Q4 24 | -$0.32 | -$0.37 | -15.6% | — | $0 | — |
| Q3 24 | -$0.42 | -$0.33 | +21.4% | — | $3M | — |
| Q2 24 | -$0.41 | -$0.42 | -2.4% | — | $1.6M | — |
| Q1 24 | -$0.45 | -$0.37 | +17.8% | — | $1.1M | — |
| Q4 23 | -$0.57 | -$0.41 | +28.1% | — | $714K | — |
| Q3 23 | -$0.52 | -$0.65 | -25.0% | — | $686K | — |
| Q2 23 | -$0.52 | -$0.5 | +3.8% | — | $200K | — |
| Q1 23 | -$0.63 | -$0.49 | +22.2% | — | $57K | — |
| Q4 22 | -$0.63 | -$0.6 | +4.8% | — | $390K | — |
| Q3 22 | -$0.67 | -$0.58 | +13.4% | — | $212K | — |
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 | — | -$0.7 | — | — | $1M | — |
| FY24 | — | -$1.49 | — | — | $5.7M | — |
| FY23 | — | -$2.05 | — | — | $1.7M | — |
| FY22 | — | -$2.41 | — | — | $652K | — |
| 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 | $22.4M | $9.9M | $9.9M | $30M | $652K | $1.7M | $5.7M | $1M |
| YoY change | — | -55.9% | +0.48% | +202.2% | -97.8% | +154.1% | +245.3% | -82.5% |
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 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 22.4M | 9.9M | 9.9M | 30M | 652K | 1.7M | 5.7M | 1M |
| Cost of revenue | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — | — |
| Research & development | 24.8M | 29.2M | 37.5M | 56.6M | 82.9M | 74.3M | 67.2M | 35.3M |
| Selling, general & administrative | 3.8M | 5.7M | 9.4M | 18.7M | 21.1M | 19.3M | 19.1M | 17.2M |
| Operating expenses | 28.6M | 35M | 46.9M | 75.3M | 104M | 93.6M | 86.3M | 52.5M |
| Operating income | -6.1M | -25.1M | -36.9M | -45.3M | -103.3M | -92M | -80.6M | -51.5M |
| Operating margin | -27.4% | -253.5% | -371.8% | -150.8% | -15.8K% | -5.5K% | -1.4K% | -5.2K% |
| Non-operating income, net | 425K | -99K | -221K | -330K | -208K | -10K | -17K | -4K |
| Pretax income | -7.4M | -24M | -36.6M | -45M | -101.9M | -87.3M | -75.4M | -48.8M |
| Income tax | — | — | — | — | — | — | — | — |
| Net income | -7.4M | -24M | -36.6M | -45M | -101.9M | -87.3M | -75.4M | -48.8M |
| Net margin | -32.9% | -242.6% | -368.5% | -149.8% | -15.6K% | -5.3K% | -1.3K% | -4.9K% |
| EBITDA | -5.3M | -24.5M | -36.3M | -43.9M | -100.3M | -87.9M | -76.7M | -47.8M |
| EPS | -0.49 | -1.26 | -2.36 | -1.07 | -2.41 | -2.05 | -1.49 | -0.7 |
| Diluted EPS | -0.49 | -1.26 | -2.36 | -1.07 | -2.41 | -2.05 | -1.49 | -0.7 |
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 | 686K | 714K | 1.1M | 1.6M | 3M | 0 | 0 | 0 | 1M | 0 | 0 | 0 |
| Cost of revenue | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — | — | — | — | — | — |
| Research & development | 24.2M | 15.2M | 16.3M | 19.2M | 16.3M | 15.4M | 9.9M | 8.7M | 7.6M | 9.1M | 10.9M | 11.7M |
| Selling, general & administrative | 5.1M | 4.4M | 4.9M | 5.3M | 4.6M | 4.2M | 4.5M | 4.4M | 4.1M | 4.3M | 4.6M | 4.5M |
| Operating expenses | 29.3M | 19.7M | 21.2M | 24.6M | 20.9M | 19.6M | 14.4M | 13M | 11.7M | 13.4M | 15.5M | 16.2M |
| Operating income | -28.6M | -19M | -20M | -23M | -17.9M | -19.6M | -14.4M | -13M | -10.7M | -13.4M | -15.5M | -16.2M |
| Operating margin | -4.2K% | -2.7K% | -1.8K% | -1.4K% | -597.9% | — | — | — | -1.1K% | — | — | — |
| Non-operating income, net | 1.1M | -3.4M | 1.5M | 1.4M | 1.2M | -4.2M | 687K | 574K | 660K | -1.9M | -1K | -26K |
| Pretax income | -27.5M | -17.7M | -18.5M | -21.6M | -16.7M | -18.7M | -13.7M | -12.5M | -10.1M | -12.6M | -14.8M | -15.2M |
| Income tax | — | — | — | — | — | — | — | — | — | — | — | — |
| Net income | -27.5M | -17.7M | -18.5M | -21.6M | -16.7M | -18.7M | -13.7M | -12.5M | -10.1M | -12.6M | -14.8M | -15.2M |
| Net margin | -4K% | -2.5K% | -1.7K% | -1.3K% | -556.4% | — | — | — | -1K% | — | — | — |
| EBITDA | -27.6M | -18M | -19.1M | -22M | -17M | -18.7M | -13.5M | -12.1M | -9.8M | -12.5M | -14.7M | -15.3M |
| EPS | -0.65 | — | -0.37 | -0.42 | -0.33 | -0.37 | -0.27 | -0.24 | -0.14 | -0.12 | -0.13 | -0.12 |
| Diluted EPS | -0.65 | — | -0.37 | -0.42 | -0.33 | -0.37 | -0.27 | -0.24 | -0.14 | -0.12 | -0.13 | -0.12 |
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 | — | — | — | — | 97.5M | 303.7M | — | — | 645.3M |
| Enterprise value | — | — | — | — | -58.9M | 177.3M | — | — | 403.6M |
| Shares outstanding | 15M | 19.1M | 15.5M | 42M | 42.4M | 42.6M | 50.8M | 69.6M | 69.6M |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| P/E | — | — | — | — | — | — | — | — | -9.22 |
| P/S | — | — | — | — | 149.5 | 183.3 | — | — | 636 |
| P/B | — | — | — | — | 0.55 | 2.1 | — | — | 3.02 |
| EV/EBITDA | — | — | — | — | 0.59 | -2.02 | — | — | -7.74 |
| EV/Sales | — | — | — | — | -90.3 | 107 | — | — | 403.6 |
| Earnings yield | — | — | — | — | — | — | — | — | -10.8% |
| FCF yield | — | — | — | — | -108.9% | -26.9% | — | — | -3.29% |
| PEG | — | — | — | — | — | — | — | — | 0.18 |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Operating margin | -27.4% | -253.5% | -371.8% | -150.8% | -15.8K% | -5.5K% | -1.4K% | -5.2K% | -5.6K% |
| Net margin | -32.9% | -242.6% | -368.5% | -149.8% | -15.6K% | -5.3K% | -1.3K% | -4.9K% | 0% |
| ROE | 66.7% | 69.4% | -11.8% | -16.5% | -57.9% | -60.3% | -94.7% | -59.2% | -39.2% |
| ROA | -10.8% | -53.3% | -10.5% | -15.1% | -49.7% | -54.7% | -82.8% | -53.6% | -24.4% |
| Return on tangible assets | -10.8% | -53.3% | -10.5% | -15.1% | -49.7% | -54.7% | -82.8% | -53.6% | -23.8% |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Current ratio | 3.15 | 2.12 | 20.5 | 11.7 | 7.39 | 12.5 | 8.88 | 11.7 | 27.6 |
| Quick ratio | 3.15 | 2.12 | 20.5 | 11.7 | 7.39 | 12.5 | 8.88 | 11.7 | 27.6 |
| Debt / equity | — | — | — | 0 | 0.03 | 0.03 | 0.04 | 0.03 | 0.01 |
| Debt / assets | — | — | — | 0 | 0.02 | 0.03 | 0.04 | 0.03 | 0.01 |
| Net debt / EBITDA | — | — | — | 6.12 | 1.56 | 1.44 | 0.91 | 1.58 | 3.94 |
| Interest coverage | -1.81 | — | — | — | — | — | — | — | — |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Revenue per share | 1.49 | 0.52 | 0.64 | 0.71 | 0.02 | 0.04 | 0.11 | 0.01 | 0.01 |
| EPS (basic) | -0.49 | -1.26 | -2.36 | -1.07 | -2.41 | -2.05 | -1.49 | -0.7 | -0.7 |
| EPS (diluted) | -0.49 | -1.26 | -2.36 | -1.07 | -2.41 | -2.05 | -1.49 | -0.7 | -0.44 |
| Book value per share | -0.74 | -1.81 | 20 | 6.47 | 4.16 | 3.4 | 1.57 | 1.18 | 2.1 |
| FCF per share | -0.54 | -1.12 | -2.22 | -1.55 | -2.5 | -1.92 | -1.19 | -0.57 | -0.32 |
| Cash per share | 4.01 | 2.05 | 21.6 | 6.4 | 3.81 | 3.07 | 1.44 | 1.12 | 2.08 |
| Capex per share | 0.08 | 0.02 | 0.05 | 0.19 | 0.27 | 0.01 | 0 | — | — |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Capex / revenue | 5.25% | 4.75% | 7.32% | 26.4% | 1.8K% | 24.6% | 1.03% | — | — |
| Capex / operating cash flow | -34.7% | -1.88% | -2.41% | -14.1% | -12% | -0.5% | -0.1% | — | — |
| Payout ratio | — | — | — | — | — | — | — | — | 0% |
| — |
| -$1.07 |
| — |
| — |
| $30M |
| — |
| FY20 | — | -$2.36 | — | — | $9.9M | — |
| FY19 | — | -$1.26 | — | — | $9.9M | — |
| FY18 | — | -$0.49 | — | — | $22.4M | — |
| 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 | $686K | $714K | $1.1M | $1.6M | $3M | $0 | $0 | $0 | $1M | $0 | $0 | $0 |
| YoY change | +223.6% | +83.1% | +1.9K% | +704.5% | +336.9% | -100% | -100% | -100% | -66.6% | 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 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|
| Cash & short-term investments | 60.4M | 39.1M | 335.4M | 268.8M | 161.3M | 130.6M | 73M | 78.1M |
| Receivables | — | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — | — |
| Total current assets | 65.6M | 42.4M | 345.6M | 288.3M | 184.6M | 143.2M | 79.2M | 82.5M |
| Property, plant & equipment | 2.5M | 2.4M | 3M | 9.9M | 17.7M | 13.8M | 9.8M | 6.1M |
| Goodwill & intangibles | — | — | — | — | — | — | — | — |
| Total assets | 68.2M | 45M | 349M | 298.6M | 205.3M | 159.6M | 91M | 91M |
| Accounts payable | 2M | 3.1M | 1.8M | 10M | 7.2M | 1.6M | 2.4M | 2.1M |
| Short-term debt | — | — | — | — | 701K | 796K | 900K | 837K |
| Total current liabilities | 20.9M | 20M | 16.8M | 24.6M | 25M | 11.5M | 8.9M | 7.1M |
| Long-term debt | — | — | — | 0 | 4.2M | 3.4M | 2.5M | 1.6M |
| Total liabilities | 79.2M | 79.5M | 39.1M | 26.8M | 29.2M | 14.9M | 11.4M | 8.6M |
| Shareholders' equity | -11.1M | -34.5M | 309.9M | 271.8M | 176.2M | 144.7M | 79.6M | 82.4M |
| Total debt | — | — | — | 0 | 4.9M | 4.2M | 3.4M | 2.4M |
| Net debt | — | — | — | -92.3M | -42.5M | -121.4M | -54M | -51.8M |
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 | — | 130.6M | 114.6M | 105.3M | 90.1M | 73M | 60.9M | 50.5M | 86.1M | 78.1M | 90.4M | 208.3M |
| Receivables | — | — | — | — | — | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current assets | — | 143.2M | 131.1M | 114.4M | 98.7M | 79.2M | 66.4M | 54.7M | 90.7M | 82.5M | 93.8M | 213.3M |
| Property, plant & equipment | — | 13.8M | — | — | — | 9.8M | — | — | — | 6.1M | — | — |
| Goodwill & intangibles | — | — | — | — | — | — | — | — | — | — | — | — |
| Total assets | — | 159.6M | 146.3M | 128.6M | 111.7M | 91M | 77.2M | 64.4M | 100.3M | 91M | 102.1M | 220.7M |
| Accounts payable | 2M | 1.6M | 2.2M | 2.8M | 2.9M | 2.4M | 1.5M | 475K | 1.2M | 2.1M | 1.3M | 3.9M |
| Short-term debt | — | 796K | 821K | 847K | 873K | 900K | 927K | 956K | 873K | 837K | 852K | 874K |
| Total current liabilities | — | 11.5M | 14.3M | 15M | 12.4M | 8.9M | 7.3M | 5.3M | 5.3M | 7.1M | 4.2M | 7.7M |
| Long-term debt | — | 3.4M | 3.2M | 3M | 2.7M | 2.5M | 2.3M | 2M | 1.8M | 1.6M | 2M | 1.8M |
| Total liabilities | — | 14.9M | 17.5M | 18M | 15.1M | 11.4M | 9.6M | 7.4M | 7.1M | 8.6M | 6.3M | 9.5M |
| Shareholders' equity | — | 144.7M | 128.8M | 110.6M | 96.6M | 79.6M | 67.6M | 57M | 93.2M | 82.4M | 95.8M | 211.1M |
| Total debt | — | 4.2M | 4M | 3.8M | 3.6M | 3.4M | 3.2M | 3M | 2.6M | 2.4M | 2.9M | 2.7M |
| Net debt | — | -121.4M | -72M | -56.9M | -40.2M | -54M | -57.7M | -47.5M | -39.9M | -51.8M | -87.5M | -60.6M |
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 | -7.4M | -24M | -36.6M | -45M | -101.9M | -87.3M | -75.4M | -48.8M |
| Depreciation & amortization | 255K | 537K | 618K | 1.4M | 3.1M | 4M | 3.8M | 3.7M |
| Stock-based compensation | 425K | 461K | 1.3M | 5.5M | 6.5M | 6.9M | 9.5M | 7M |
| Change in working capital | 608K | -2M | 4.5M | -19.7M | -3.6M | -5.9M | 22K | -1.2M |
| Operating cash flow | -3.4M | -25M | -30.1M | -56.3M | -95.7M | -81.9M | -61.6M | -39.9M |
| Capital expenditure | -1.2M | -470K | -727K | -7.9M | -11.5M | -407K | -59K | — |
| Investing cash flow | -29.9M | -3.6M | -146.3M | -10.4M | 49.4M | 110.9M | -8.5M | -7.8M |
| Dividends paid | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | -17K | — |
| Financing cash flow | 35.1M | -64K | 330.6M | 0 | 0 | 48.1M | -468K | 44.4M |
| Net change in cash | 1.8M | -28.6M | 154.2M | -66.7M | -46.3M | 77.1M | -70.6M | -3.3M |
| Free cash flow | -8.1M | -21.4M | -34.4M | -65M | -106.1M | -81.6M | -60.6M | -40M |
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 | -27.5M | -17.7M | -18.5M | -21.6M | -16.7M | -18.7M | -13.7M | -12.5M | -10.1M | -12.6M | -14.8M | -15.2M |
| Depreciation & amortization | 1M | 981K | 974K | 962K | 953K | 940K | 936K | 929K | 917K | 906K | 891K | 851K |
| Stock-based compensation | 1.8M | 1.6M | 2.5M | 2.7M | 2.6M | 1.9M | 1.7M | 1.9M | 1.8M | 1.6M | 2.4M | 2.7M |
| Change in working capital | -829K | -362K | -412K | 3.9M | -83K | -726K | -1.1M | -1.3M | 592K | 649K | -1.2M | 3M |
| Operating cash flow | -25.5M | -15.3M | -15.4M | -13.9M | -13.1M | -16.5M | -12M | -10.4M | -8.9M | -8.5M | -13.4M | -10.2M |
| Capital expenditure | -19K | -17K | 0 | -17K | -42K | 0 | — | — | — | — | — | — |
| Investing cash flow | -14.6M | -17K | -33.3M | -5.4M | -821K | 31M | 15.6M | 0 | -43.4M | 20M | 23.8M | -144.8M |
| Dividends paid | — | — | — | — | — | — | — | — | — | — | — | — |
| Share repurchases | 0 | — | — | — | 0 | 0 | — | — | — | — | — | — |
| Financing cash flow | 0 | -14K | -793K | 346K | -4K | 0 | -65K | 0 | 44.5M | -5K | 20.3M | 80.4M |
| Net change in cash | -40M | -15.4M | -49.4M | -19M | -14M | 14.5M | 3.5M | -10.4M | -7.9M | 11.5M | 30.7M | -74.6M |
| Free cash flow | -16.8M | -19.4M | -16.2M | -10.9M | -16.1M | -17.4M | -12M | -10.4M | -9M | -8.5M | -13.4M | -10.3M |