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 | -$0.15 | -$0.16 | -6.7% | — | $0 | — |
| Q4 25 | -$0.12 | -$0.13 | -8.3% | — | $0 | — |
| Q2 25 | -$0.12 | -$0.14 | -16.7% | — | $0 | — |
| Q1 25 | -$0.13 | -$0.12 | +7.7% | — | $0 | — |
| Q4 24 | -$0.11 | -$0.13 | -18.2% | — | $0 | — |
| Q3 24 | -$0.11 | -$0.11 | 0.0% | — | $0 | — |
| Q2 24 | -$0.11 | -$0.12 | -9.1% | — | $0 | — |
| Q1 24 | -$0.1 | -$0.11 | -10.0% | — | $0 | — |
| Q4 23 | -$0.1 | -$0.09 | +10.0% | — | $0 | — |
| Q3 23 | -$0.07 | -$0.1 | -42.9% | — | $0 | — |
| Q2 23 | -$0.08 | -$0.07 | +12.5% | — | $0 | — |
| Q1 23 | -$0.07 | -$0.07 | 0.0% | — | $0 | — |
| Q4 22 | -$0.07 | -$0.07 | 0.0% | — | $0 | — |
| Q3 22 | -$0.07 | -$0.07 | 0.0% | — | $0 | — |
| Q2 22 | -$0.06 | -$0.06 | 0.0% | — | $0 | — |
| Q1 22 | -$0.07 | -$0.05 | +28.6% | — | $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 | — | -$0.53 | — | — | $0 | — |
| FY24 | — | -$0.48 | — | — | $0 | — |
| FY23 | — | -$0.33 | — | — | $0 | — |
| FY22 | — | -$0.25 | — | — | $0 | — |
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 | $400K | $0 | $0 | $0 | $257K | $0 | $0 | $0 | $0 | $0 |
| YoY change | +640.7% | -100% | 0% | 0% | +InfinityT% | -100% | 0% | 0% | 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 | 400K | 0 | 0 | 0 | 257K | 0 | 0 | 0 | 0 | 0 |
| Cost of revenue | — | — | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — | — | — | — |
| Research & development | 8.2M | 18.5M | 37.2M | 38.8M | 35M | 29M | 27.9M | 44.3M | 78M | 81.4M |
| Selling, general & administrative | 2.8M | 11.1M | 10.7M | 13.1M | 14.3M | 12.3M | 10.9M | 15.7M | 25M | 42.1M |
| Operating expenses | 11M | 29.6M | 47.8M | 51.9M | 49.3M | 41.3M | 38.8M | 59.9M | 103.1M | 123.5M |
| Operating income | -10.9M | -30M | -46.9M | -51M | -48.4M | -40.6M | -38M | -59.2M | -102.4M | -122.8M |
| Operating margin | -2.7K% | — | — | — | -18.8K% | — | — | — | — | — |
| Non-operating income, net | 120K | -2.3M | -21.7M | -27.1M | 274K | -99K | -19K | 76K | 51K | -236K |
| Pretax income | -11.3M | -33.4M | -68.6M | -78.2M | -49.6M | -43M | -38.1M | -54.7M | -95.9M | -118.8M |
| Income tax | -357K | -3.6M | -7.1M | 0 | — | — | — | — | — | — |
| Net income | -10.9M | -29.8M | -61.5M | -78.2M | -49.6M | -43M | -38.1M | -54.7M | -95.9M | -118.8M |
| Net margin | -2.7K% | — | — | — | -19.3K% | — | — | — | — | — |
| EBITDA | -10.6M | -27.3M | -24.7M | -50M | -47.7M | -40.3M | -37.9M | -59.1M | -102.3M | -122.4M |
| EPS | -3.29 | -1.76 | -1.85 | -1.95 | -0.84 | -0.32 | -0.25 | -0.33 | -0.48 | -0.53 |
| Diluted EPS | -3.29 | -1.76 | -1.85 | -1.95 | -0.84 | -0.32 | -0.25 | -0.33 | -0.48 | -0.53 |
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 | 13.9M | 12.7M | 16.8M | 17.6M | 20.3M | 23.3M | 19.2M | 20.8M | 20.6M | 20.9M | 23.4M | 22M |
| Selling, general & administrative | 4.1M | 4.9M | 5.6M | 5.5M | 6M | 7.8M | 9.2M | 10.7M | 9.6M | 12.5M | 15.6M | 19M |
| Operating expenses | 18M | 17.6M | 22.4M | 23.2M | 26.3M | 31.1M | 28.4M | 31.4M | 30.2M | 33.4M | 39M | 40.9M |
| Operating income | -18M | -17.6M | -21.7M | -23.2M | -26.4M | -31.2M | -27.7M | -31.4M | -30.3M | -33.4M | -38.1M | -41M |
| Operating margin | — | — | — | — | — | — | — | — | — | — | — | — |
| Non-operating income, net | 1K | 12K | -21K | -125K | -20K | 217K | -486K | 118K | 146K | -12K | -204K | -92K |
| Pretax income | -16.6M | -16.1M | -20.3M | -22.2M | -24.2M | -29M | -26.6M | -30.4M | -29.6M | -32.2M | -37.3M | -40.2M |
| Income tax | — | — | — | — | — | — | 0 | — | — | — | — | — |
| Net income | -16.6M | -16.1M | -20.3M | -22.2M | -24.2M | -29M | -26.6M | -30.4M | -29.6M | -32.2M | -37.3M | -40.2M |
| Net margin | — | — | — | — | — | — | — | — | — | — | — | — |
| EBITDA | -18M | -17.6M | -21.6M | -23M | -26.3M | -31.4M | -27.1M | -31.5M | -30.3M | -33.4M | -37.9M | -40.8M |
| EPS | -0.1 | — | -0.11 | -0.12 | -0.11 | — | -0.12 | -0.14 | -0.14 | — | -0.15 | -0.16 |
| Diluted EPS | -0.1 | — | -0.11 | -0.12 | -0.11 | — | -0.12 | -0.14 | -0.14 | — | -0.15 | -0.16 |
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 | — | — | — | — | — | — | — | 776.5M | — | — | 1B |
| Enterprise value | — | — | — | — | — | — | — | 640.6M | — | — | 1.1B |
| Shares outstanding | 3.3M | 17.5M | 33.3M | 40M | 59.3M | 133.9M | 152.8M | 165.2M | 198.2M | 222.4M | 222.4M |
| Metric | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E | — | — | — | — | — | — | — | — | — | — | -9.58 |
| P/B | — | — | — | — | — | — | — | 5.53 | — | — | 8.85 |
| EV/EBITDA | — | — | — | — | — | — | — | -10.8 | — | — | -7.89 |
| Earnings yield | — | — | — | — | — | — | — | — | — | — | -10.4% |
| FCF yield | — | — | — | — | — | — | — | -6.61% | — | — | -5.5% |
| PEG | — | — | — | — | — | — | — | — | — | — | -0.67 |
| Metric | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating margin | -2.7K% | — | — | — | -18.8K% | — | — | — | — | — | 0% |
| Net margin | -2.7K% | — | — | — | -19.3K% | — | — | — | — | — | 0% |
| ROE | 30.4% | -25% | -56.8% | -76.9% | -77.1% | -29.8% | -35.4% | -39% | -55.9% | -58.5% | -105.5% |
| ROA | -37.8% | -18.7% | -40.4% | -57.4% | -50.8% | -24.4% | -27.3% | -30.8% | -45% | -46.9% | -50.1% |
| ROIC | 24.4% | -74.3% | -213.6% | -928.4% | — | — | — | — | — | — | — |
| Return on tangible assets | -581.6% | -78% | -81.3% | -68.6% | -67.7% | -27.9% | -32.2% | -35.1% | -49.9% | -49.1% | -82.2% |
| Metric | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current ratio | 4.23 | 16.3 | 15.6 | 11.4 | 10.4 | 11.3 | 22 | 15.7 | 13.7 | 11.8 | 10.1 |
| Quick ratio | 4.23 | 16.3 | 15.6 | 11.4 | 10.4 | 11.3 | 22 | 15.7 | 13.7 | 11.8 | 10.1 |
| Debt / equity | -0.12 | 0.13 | 0.23 | 0.25 | 0.39 | 0.18 | 0.24 | 0.19 | 0.16 | 0.15 | 0.21 |
| Debt / assets | 0.15 | 0.1 | 0.16 | 0.19 | 0.26 | 0.15 | 0.19 | 0.15 | 0.13 | 0.12 | 0.16 |
| Net debt / EBITDA | 0.84 | 2.9 | 3.49 | 1.93 | 1.19 | 3.36 | 2.63 | 2.3 | 1.66 | 1.68 | 1 |
| Interest coverage | -24 | -25.8 | — | -1.1K | -32.5 | -17.8 | -432.3 | — | — | — | — |
| Effective tax rate | 0% | 0% | 0% | 0% | — | — | — | — | — | — | — |
| Metric | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue per share | 0.12 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (basic) | -3.29 | -1.76 | -1.85 | -1.95 | -0.84 | -0.32 | -0.25 | -0.33 | -0.48 | -0.53 | -0.53 |
| EPS (diluted) | -3.29 | -1.76 | -1.85 | -1.95 | -0.84 | -0.32 | -0.25 | -0.33 | -0.48 | -0.53 | -0.58 |
| Book value per share | -10.7 | 6.81 | 3.25 | 2.54 | 1.09 | 1.08 | 0.71 | 0.85 | 0.87 | 0.91 | 0.56 |
| FCF per share | -2.5 | -1.64 | -1.18 | -1.13 | -0.73 | -0.3 | -0.23 | -0.31 | -0.45 | -0.45 | -0.44 |
| Cash per share | 4 | 5.38 | 3.33 | 3.04 | 1.39 | 1.2 | 0.82 | 0.98 | 0.99 | 1.06 | 0.69 |
| Capex per share | 0 | 0.03 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | — | — |
| Metric | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Capex / revenue | 2% | — | — | — | 18.3% | — | — | — | — | — | — |
| Capex / operating cash flow | -0.07% | -1.74% | -0.23% | -0.21% | -0.12% | -0.14% | -0.03% | -0.65% | -0.03% | — | — |
| Payout ratio | — | — | — | — | — | — | — | — | — | — | 0% |
| FY21 | — | -$0.32 | — | — | $0 | — |
| FY20 | — | -$0.84 | — | — | $257K | — |
| FY19 | — | -$1.95 | — | — | $0 | — |
| FY18 | — | -$1.85 | — | — | $0 | — |
| FY17 | — | -$1.76 | — | — | $0 | — |
| FY16 | — | -$3.29 | — | — | $400K | — |
| 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 | 13.4M | 94.3M | 110.8M | 121.8M | 82.2M | 161.2M | 125.9M | 162.3M | 196.3M | 235.7M |
| Receivables | 400K | 834K | — | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — | — | — | — |
| Total current assets | 14.6M | 97.9M | 113.3M | 124.1M | 85.1M | 165M | 129M | 165.9M | 202.1M | 241.6M |
| Property, plant & equipment | 837K | 2M | 522K | 352K | 156K | 73K | 51K | 270K | 165K | 100K |
| Goodwill & intangibles | 27.1M | 121.4M | 76.6M | 22.2M | 24.4M | 22.5M | 21.3M | 21.9M | 20.7M | 11.6M |
| Total assets | 28.9M | 159.6M | 152.3M | 136.2M | 97.7M | 176.6M | 139.8M | 177.6M | 212.9M | 253.4M |
| Accounts payable | 536K | 2.8M | 3.9M | 3.4M | 2.6M | 1.4M | 1.3M | 3.5M | 4.5M | 5.8M |
| Short-term debt | 442K | 265K | 41K | 2.4M | 179K | 8.5M | 64K | 143K | 116K | 7K |
| Total current liabilities | 3.5M | 6M | 7.3M | 10.9M | 8.2M | 14.7M | 5.9M | 10.6M | 14.7M | 20.4M |
| Long-term debt | 4M | 15.1M | 24.5M | 23.1M | 25.1M | 17.3M | 26.1M | 26.3M | 26.6M | 29.9M |
| Total liabilities | 64.8M | 40.3M | 44.1M | 34.5M | 33.4M | 32.1M | 32M | 37.2M | 41.4M | 50.3M |
| Shareholders' equity | -35.9M | 119.3M | 108.2M | 101.7M | 64.4M | 144.5M | 107.8M | 140.4M | 171.4M | 203.1M |
| Total debt | 4.5M | 15.3M | 24.6M | 25.6M | 25.3M | 25.8M | 26.1M | 26.5M | 26.7M | 29.9M |
| Net debt | -8.9M | -6.8M | 270K | -24.3M | 2.4M | -8.2M | -26M | -94K | 11.6M | -3.3M |
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 | — | — | — | — | — | — | — | — | 124.4M | 235.7M | 202.8M | 173M |
| Receivables | — | — | — | — | — | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current assets | — | — | — | — | — | — | — | — | 128.2M | 241.6M | 209.3M | 178.3M |
| Property, plant & equipment | — | — | — | — | — | — | — | — | — | 100K | — | — |
| Goodwill & intangibles | — | — | — | — | — | — | — | — | 23.3M | 23.3M | 22.7M | 22.6M |
| Total assets | — | — | — | — | — | — | — | — | 140.9M | 253.4M | 221.6M | 192.1M |
| Accounts payable | 3.2M | 3.5M | 2.9M | 3.4M | 4.6M | 4.5M | 5.6M | 4.7M | 4.1M | 5.8M | 4.5M | 7M |
| Short-term debt | — | — | — | — | — | — | — | — | 49K | 7K | 44K | 298K |
| Total current liabilities | — | — | — | — | — | — | — | — | 16.8M | 20.4M | 15.5M | 17.6M |
| Long-term debt | — | — | — | — | — | — | — | — | 29.8M | 29.9M | 30.1M | 30.1M |
| Total liabilities | — | 37.2M | 36.4M | 37.9M | 39.5M | 41.4M | 41.5M | 43.3M | 46.5M | 50.3M | 45.6M | 48.5M |
| Shareholders' equity | — | — | — | — | — | — | — | — | 94.4M | 203.1M | 176M | 143.7M |
| Total debt | — | — | — | — | — | — | — | — | 29.8M | 29.9M | 30.1M | 30.4M |
| Net debt | — | — | — | — | — | — | — | — | 13.6M | -3.3M | -8.7M | -11.4M |
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 | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net income | -10.9M | -29.8M | -61.5M | -78.2M | -49.6M | -43M | -38.1M | -54.7M | -95.9M | -118.8M |
| Depreciation & amortization | 346K | 363K | 526K | 1M | 693K | 367K | 167K | 175K | 130K | 87K |
| Stock-based compensation | 209K | 552K | 3.7M | 4.4M | 5.1M | 3.3M | 2M | 4.2M | 9.9M | 14.4M |
| Change in working capital | -2M | 374K | 1.5M | 830K | -2M | -1.8M | -376K | 4.5M | 4.2M | 4.9M |
| Operating cash flow | -11.7M | -28.5M | -62M | -71.1M | -39.9M | -40.7M | -36M | -45.5M | -81.4M | -101M |
| Capital expenditure | -8K | -495K | -141K | -148K | -47K | -57K | -9K | -296K | -25K | — |
| Investing cash flow | 15.2M | -69.1M | -13.6M | 15.7M | 12.3M | -69.5M | 52.6M | -57.1M | -39.9M | -18.4M |
| Dividends paid | — | — | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | 0 | -78K | -3K | -1.2M | -995K | -5.1M |
| Financing cash flow | 3.9M | 105.7M | 55.1M | 54.8M | 1.8M | 122.2M | 85K | 82.5M | 117.2M | 137.5M |
| Net change in cash | 7.4M | 8.1M | -20.5M | -580K | -25.8M | 12M | 16.7M | -20.2M | -4.1M | 18M |
| Free cash flow | -8.4M | -28.7M | -39.4M | -45.3M | -43.1M | -40.1M | -34.6M | -51.4M | -89.1M | -101.1M |
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 | -16.6M | -16.1M | -20.3M | -22.2M | -24.2M | -29M | -26.6M | -30.4M | -29.6M | -32.2M | -37.3M | -40.2M |
| Depreciation & amortization | 62K | 66K | 67K | 69K | 69K | -75K | 68K | 73K | 75K | -129K | 66K | 99K |
| Stock-based compensation | 995K | 1.4M | 2.3M | 2.2M | 2.4M | 3M | 3M | 2.7M | 3.4M | 5.4M | 10.7M | 7.8M |
| Change in working capital | 0 | 780K | -1.6M | 1.3M | 0 | 825K | -3.9M | 1.2M | 3.1M | 4.5M | -5.5M | 1.5M |
| Operating cash flow | -15.5M | -13.8M | -19.5M | -18.6M | -21.7M | -25.2M | -27.4M | -26.3M | -22.5M | -25.1M | -33M | -29.7M |
| Capital expenditure | -43K | -24K | -10K | -21K | -3K | 9K | -3K | — | — | — | — | — |
| Investing cash flow | -56.6M | 6.6M | 10.8M | 29.5M | -98.2M | 17.9M | 29.3M | 24.3M | 21.5M | -93.6M | 38.8M | 32.8M |
| Dividends paid | — | — | — | — | — | — | — | — | — | — | — | — |
| Share repurchases | -182K | -1M | -2K | -2K | -94K | -897K | -215K | -114K | -24K | -4.8M | -240K | -5K |
| Financing cash flow | -182K | 7.8M | -2K | -2K | -94K | -898K | 2.2M | -114K | -23K | 135.4M | -240K | -5K |
| Net change in cash | -72.2M | 553K | -8.7M | 11M | -120M | -8.2M | 4M | -2M | -1.1M | 16.8M | 5.5M | 3.1M |
| Free cash flow | -13.2M | -15.6M | -20.7M | -22.5M | -22.7M | -23.3M | -27.2M | -26.3M | -22.5M | -25.1M | -33.1M | -30M |