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 % |
|---|---|---|---|---|---|---|
| Q4 24 | -$0.1 | $0.85 | +950.0% | — | $0 | — |
| Q3 24 | -$0.18 | -$0.01 | +94.4% | — | — | — |
| Q2 24 | -$0.16 | -$0.48 | -200.0% | — | — | — |
| Q1 24 | -$0.66 | -$0.27 | +59.1% | — | — | — |
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 | — | -$0.08 | — | — | $0 | — |
| FY24 | — | -$1.92 | — | — | $8K | — |
| FY23 | — | -$8.81 | — | — | $3.4M | — |
| FY22 | — | -$13.8 | — | — | $1.2M | — |
| FY21 | — | -$16.4 | — | — | $1.8M | — |
| FY20 | — | -$24.8 | — | — | $545K | — |
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 | $545K | $1.8M | $1.2M | $3.4M | $8K | $0 |
| YoY change | — | +221.8% | -32.7% | +185.7% | -99.8% | -100% |
Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.
| Period | Q4 24 | Q1 25 | Q2 25 | Q3 25 | Q4 25 | Q1 26 |
|---|---|---|---|---|---|---|
| Revenue | $0 |
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 | 545K | 1.8M | 1.2M | 3.4M | 8K | 0 |
| Cost of revenue | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — |
| Research & development | 47.5M | 47.1M | 52M | 44M | 9.2M | 43K |
| Selling, general & administrative | 13.5M | 15.4M | 16.6M | 14.6M | 6.6M | 3.5M |
| Operating expenses | 61M | 62.5M | 68.6M | 58.5M | 15.8M | 3.5M |
| Operating income | -60.5M | -60.8M | -67.4M | -55.2M | -15.8M | -3.5M |
| Operating margin | -11.1K% | -3.5K% | -5.7K% | -1.6K% | -197.2K% | — |
| Non-operating income, net | -3K | -4K | 7K | -4.6M | -9M | 1.8M |
| Pretax income | -59.2M | -60.6M | -66.1M | -57.3M | -23.4M | -1M |
| Income tax | — | — | 0 | 14K | 5K | 0 |
| Net income | -59.2M | -60.6M | -66.1M | -57.3M | -23.4M | -1M |
| Net margin | -10.9K% | -3.5K% | -5.6K% | -1.7K% | -292K% | — |
| EBITDA | -56.5M | -58.1M | -63.6M | -51.3M | -14M | -5.4M |
| EPS | -24.8 | -16.4 | -13.8 | -8.81 | -1.92 | -0.08 |
| Diluted EPS | -24.8 | -16.4 | -13.8 | -8.81 | -1.92 | -0.08 |
Revenue, gross profit, operating income, and net income per period.
Click a row to chart it; unreported figures show a dash.
| Period | Q4 24 | Q1 25 | Q2 25 | Q3 25 | Q4 25 | Q1 26 |
|---|---|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | 0 | 0 | 0 |
| Cost of revenue | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — |
| Research & development | -10K | 22K | -14K | 8K | 27K | 49K |
| Selling, general & administrative | 1.4M | 836K | 800K | 818K | 1M | 1.1M |
| Operating expenses | 1.4M | 858K | 786K | 826K | 1.1M | 1.1M |
| Operating income | -1.4M | -858K | -786K | -826K | -1.1M | -1.1M |
| Operating margin | — | — | — | — | — | — |
| Non-operating income, net | 455K | 987K | 76K | -1.6M | 2.4M | 1.7M |
| Pretax income | -714K | 317K | -529K | -2.3M | 1.5M | 681K |
| Income tax | 0 | — | 0 | 0 | 0 | — |
| Net income | -714K | 317K | -529K | -2.3M | 1.5M | 681K |
| Net margin | — | — | — | — | — | — |
| EBITDA | -1.2M | -1.8M | -862K | 824K | -3.5M | -2.8M |
| EPS | — | 0.03 | -0.04 | -0.19 | — | 0.05 |
| Diluted EPS | — | 0.03 | -0.04 | -0.19 | — | 0.05 |
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 | — | — | — | — | — | 13.8M | 8.2M |
| Enterprise value | — | — | — | — | — | -878.7K | -5.9M |
| Shares outstanding | 2.4M | 3.7M | 4.8M | 6.5M | 12.2M | 12.3M | 12.3M |
| Metric | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| P/E | — | — | — | — | — | — | 6.36 |
| P/B | — | — | — | — | — | 1.16 | 0.65 |
| EV/EBITDA | — | — | — | — | — | 0.16 | 1.1 |
| Earnings yield | — | — | — | — | — | — | 15.7% |
| FCF yield | — | — | — | — | — | -31.6% | -59.7% |
| PEG | — | — | — | — | — | — | 0.1 |
| Metric | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| Operating margin | -11.1K% | -3.5K% | -5.7K% | -1.6K% | -197.2K% | — | 0% |
| Net margin | -10.9K% | -3.5K% | -5.6K% | -1.7K% | -292K% | — | 0% |
| ROE | -51.4% | -41.1% | -80.1% | -134.3% | -183.2% | -8.47% | -5% |
| ROA | -41.1% | -34.7% | -59.7% | -75.8% | -117.8% | -6.51% | -14.5% |
| ROIC | — | — | -266.7% | -452.7% | 258.3% | 125.9% | 125.9% |
| Return on tangible assets | -47.5% | -34.7% | -59.7% | -75.8% | -117.8% | -6.51% | -4.39% |
| Metric | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| Current ratio | 12.9 | 13.2 | 6.58 | 2.45 | 2.8 | 4.3 | 7.08 |
| Quick ratio | 12.9 | 13.2 | 6.58 | 2.45 | 2.8 | 4.3 | 7.08 |
| Debt / equity | 0.2 | 0.14 | 0.25 | 0.4 | 0 | — | 0 |
| Debt / assets | 0.16 | 0.12 | 0.18 | 0.23 | 0 | — | — |
| Net debt / EBITDA | 1.37 | 1.86 | 0.9 | 0.59 | 1.35 | — | — |
| Interest coverage | -9.9K | -30.3K | -33.1K | -57.3K | — | — | — |
| Effective tax rate | — | — | 0% | 0% | 0% | 0% | 0% |
| Metric | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| Revenue per share | 0.23 | 0.48 | 0.25 | 0.52 | 0 | 0 | 0 |
| EPS (basic) | -24.8 | -16.4 | -13.8 | -8.81 | -1.92 | -0.08 | -0.08 |
| EPS (diluted) | -24.8 | -16.4 | -13.8 | -8.81 | -1.92 | -0.08 | -0.06 |
| Book value per share | 48.2 | 39.9 | 17.3 | 6.56 | 1.05 | 0.96 | 1.07 |
| FCF per share | -16.7 | -14.3 | -12 | -7.97 | -2.6 | -0.35 | -0.27 |
| Cash per share | 42 | 34.9 | 16.2 | 7.34 | 1.55 | 1.19 | 1.21 |
| Capex per share | 0.17 | 0.18 | 0.15 | 0.03 | 0.11 | 0.01 | 0.01 |
| Metric | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| Capex / revenue | 72.5% | 38.7% | 61.7% | 5.87% | 16.5K% | — | — |
| Capex / operating cash flow | -0.74% | -1.24% | -1.21% | -0.37% | -3.81% | -18.8% | -28.8% |
| Payout ratio | — | — | — | — | — | — | 0% |
| $0 |
| $0 |
| $0 |
| $0 |
| $0 |
| YoY change | — | — | — | — | 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 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|
| Cash & short-term investments | 100.4M | 128.6M | 77.6M | 47.7M | 18.9M | 14.7M |
| Receivables | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — |
| Total current assets | 106.8M | 133.3M | 79.8M | 49.9M | 19.8M | 15.4M |
| Property, plant & equipment | 26.3M | 23M | 21.7M | 17.7M | — | — |
| Goodwill & intangibles | 19.2M | — | — | — | — | — |
| Total assets | 143.8M | 174.7M | 110.9M | 75.5M | 19.8M | 15.4M |
| Accounts payable | 2M | 1.9M | 1.8M | 1.5M | 164K | 103K |
| Short-term debt | 2.5M | 3.2M | 4.2M | 4.8M | — | — |
| Total current liabilities | 8.3M | 10.1M | 12.1M | 20.4M | 7.1M | 3.6M |
| Long-term debt | 20.3M | 17.4M | 16.1M | 12.5M | 0 | — |
| Total liabilities | 28.7M | 27.5M | 28.3M | 32.9M | 7.1M | 3.6M |
| Shareholders' equity | 115.1M | 147.3M | 82.6M | 42.7M | 12.8M | 11.9M |
| Total debt | 22.8M | 20.6M | 20.3M | 17.3M | 0 | — |
| Net debt | -9.7M | 4.2M | 4.4M | -6.7M | -18.9M | — |
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 | Q4 24 | Q1 25 | Q2 25 | Q3 25 | Q4 25 | Q1 26 |
|---|---|---|---|---|---|---|
| Cash & short-term investments | — | — | 17M | 15.6M | 14.7M | 14.1M |
| Receivables | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — |
| Total current assets | — | — | 17.3M | 16.5M | 15.4M | 14.6M |
| Property, plant & equipment | — | — | — | — | — | — |
| Goodwill & intangibles | — | — | — | — | — | — |
| Total assets | — | — | 17.4M | 16.6M | 15.4M | 14.6M |
| Accounts payable | 164K | 80K | 45K | 107K | 103K | 206K |
| Short-term debt | — | — | — | — | — | — |
| Total current liabilities | — | — | 4.8M | 6.2M | 3.6M | 2.1M |
| Long-term debt | — | — | — | — | — | — |
| Total liabilities | 7.1M | 4.9M | 4.8M | 6.2M | 3.6M | 2.1M |
| Shareholders' equity | — | — | 12.6M | 10.3M | 11.9M | 12.6M |
| Total debt | — | — | — | — | — | — |
| Net debt | — | — | — | — | — | — |
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 | -59.2M | -60.6M | -66.1M | -57.3M | -23.4M | -1M |
| Depreciation & amortization | 2.6M | 2.4M | 2.5M | 2M | 347K | 0 |
| Stock-based compensation | 3.9M | 3.4M | 3.6M | 2.8M | 3.2M | 117K |
| Change in working capital | -2.4M | -2.3M | -3.6M | -5M | -12.4M | 0 |
| Operating cash flow | -53.2M | -55M | -60.4M | -53.7M | -34.6M | -888K |
| Capital expenditure | -395K | -679K | -728K | -198K | 1.3M | 167K |
| Investing cash flow | 32.5M | -53.3M | 58.4M | 38.8M | 25.3M | 167K |
| Dividends paid | — | — | — | — | — | — |
| Share repurchases | — | 0 | -2.5M | 0 | — | — |
| Financing cash flow | 13.3M | 89M | -2.2M | 20.8M | 18K | 0 |
| Net change in cash | -7.4M | -19.2M | -4.3M | 5.9M | -9.2M | -721K |
| Free cash flow | -39.9M | -52.9M | -57.6M | -51.8M | -31.7M | -4.4M |
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 | Q4 24 | Q1 25 | Q2 25 | Q3 25 | Q4 25 | Q1 26 |
|---|---|---|---|---|---|---|
| Net income | -714K | 317K | -529K | -2.3M | 1.5M | 681K |
| Depreciation & amortization | 0 | 0 | 0 | 0 | 0 | — |
| Stock-based compensation | 348K | 25K | 29K | 33K | 30K | 10K |
| Change in working capital | 0 | 0 | 0 | 0 | 0 | — |
| Operating cash flow | -366K | 342K | -500K | -2.3M | 1.5M | 691K |
| Capital expenditure | 30K | 12K | 155K | 0 | 0 | 0 |
| Investing cash flow | 30K | 12K | 155K | 0 | 0 | 0 |
| Dividends paid | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — |
| Financing cash flow | 9K | 0 | 0 | 0 | 0 | — |
| Net change in cash | -327K | 354K | -345K | -2.3M | 1.5M | 691K |
| Free cash flow | -568K | -1.6M | -399K | -1.4M | -923K | -563K |