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 | -$0.2 | -$0.43 | -115.0% | — | $173.9M | — |
| Q1 26 | -$0.42 | -$0.16 | +61.9% | — | $162.1M | — |
| Q4 25 | $0.01 | -$0.2 | -2100.0% | — | $151.7M | — |
| Q3 25 | -$0.33 | -$0.3 | +9.1% | — | $118.7M | — |
| Q2 25 | -$0.36 | -$0.48 | -33.3% | — | $102.7M | — |
| Q1 25 | -$0.63 | -$0.64 | -1.6% | — | $78.3M | — |
| Q4 24 | -$0.78 | -$0.6 | +23.1% | — | $66.4M | — |
| Q3 24 | -$1 | -$0.61 | +39.0% | — | $48.1M | — |
| Q2 24 | -$0.8 | -$0.83 | -3.7% | — | $40.8M | — |
| Q1 24 | -$1.25 | -$0.99 | +20.8% | — | $27.6M | — |
| Q4 23 | -$1.49 | -$1.31 | +12.1% | — | $13.1M | — |
| Q3 23 | -$1.37 | -$1.28 | +6.6% | — | $1.9M | — |
| Q2 23 | -$1.08 | -$1.17 | -8.3% | — | $0 | — |
| Q1 23 | -$0.94 | -$0.88 | +6.4% | — | $2.5M | — |
| Q4 22 | -$0.69 | -$0.49 | +29.0% | — | $10M | — |
| Q3 22 | -$1.07 | -$0.84 | +21.5% | — | $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 | — | -$1.59 | — | — | $451.4M | — |
| FY24 | — | -$3.07 | — | — | $183M | — |
| FY23 | — | -$4.62 | — | — | $17.4M | — |
| FY22 | — | -$2.52 | — | — | $25.8M | — |
| 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 | $0 | $0 | $0 | $57M | $25.8M | $17.4M | $183M | $451.4M |
| YoY change | — | 0% | 0% | +InfinityT% | -54.7% | -32.4% | +948.6% | +146.7% |
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 | 0 | 0 | 0 | 57M | 25.8M | 17.4M | 183M | 451.4M |
| Cost of revenue | — | — | 0 | 2.1M | 955K | 1.6M | 12.8M | 30.7M |
| Gross profit | — | — | 0 | 55M | 24.9M | 15.9M | 170.1M | 420.7M |
| Gross margin | — | — | — | 96.4% | 96.3% | 90.9% | 93% | 93.2% |
| Research & development | 901K | 3.2M | 18.8M | 41.7M | 42.6M | 50.3M | 53.4M | 64.3M |
| Selling, general & administrative | 449K | 1.1M | 8.2M | 25.4M | 44.9M | 108.7M | 237.3M | 427.3M |
| Operating expenses | 1.4M | 4.3M | 27M | 67.1M | 87.6M | 159M | 290.7M | 491.6M |
| Operating income | -1.4M | -4.3M | -27M | -12.2M | -62.7M | -143.2M | -120.6M | -71M |
| Operating margin | — | — | — | -21.3% | -242.9% | -820.5% | -65.9% | -15.7% |
| Non-operating income, net | — | -331K | — | -1.7M | -683K | 274K | -2.1M | -202K |
| Pretax income | -1.3M | -4.7M | -26.8M | -13.8M | -62.1M | -135.9M | -115.6M | -64.4M |
| Income tax | 1K | 1K | 1K | 55K | -4K | 0 | 0 | 2.1M |
| Net income | -1.3M | -4.7M | -26.8M | -13.8M | -62.1M | -135.9M | -115.6M | -66.4M |
| Net margin | — | — | — | -24.2% | -240.5% | -778.9% | -63.2% | -14.7% |
| EBITDA | -1.3M | -3.9M | -26.9M | -11.9M | -58.9M | -132.2M | -104.1M | -54.2M |
| EPS | -0.31 | -1.98 | -4.32 | -0.67 | -2.52 | -4.62 | -3.07 | -1.59 |
| Diluted EPS | -0.31 | -1.98 | -4.32 | -0.67 | -2.52 | -4.62 | -3.07 | -1.59 |
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 | 1.9M | 13.1M | 27.6M | 40.8M | 48.1M | 66.4M | 78.3M | 102.7M | 118.7M | 151.7M | 162.1M | 173.9M |
| Cost of revenue | 377K | 1.2M | 1.7M | 3M | 3.2M | 4.9M | 5.2M | 6.2M | 8.3M | 10.9M | 9.4M | 12.1M |
| Gross profit | 1.5M | 11.9M | 26M | 37.8M | 44.9M | 61.5M | 73.1M | 96.4M | 110.4M | 140.7M | 152.7M | 161.8M |
| Gross margin | 79.9% | 90.7% | 94% | 92.6% | 93.3% | 92.6% | 93.3% | 93.9% | 93% | 92.8% | 94.2% | 93% |
| Research & development | 12.1M | 13.3M | 12.1M | 12.3M | 12.1M | 16.9M | 14.4M | 15.6M | 16.3M | 18M | 22.4M | 31M |
| Selling, general & administrative | 30.3M | 43M | 51.6M | 58.8M | 57.9M | 69M | 85M | 103M | 108.6M | 130.7M | 136.4M | 150.7M |
| Operating expenses | 42.4M | 56.3M | 63.6M | 71.1M | 70M | 85.9M | 99.4M | 118.6M | 124.9M | 148.7M | 158.8M | 181.7M |
| Operating income | -40.9M | -44.5M | -37.7M | -33.3M | -25.2M | -24.4M | -26.3M | -22.2M | -14.5M | -8M | -6.1M | -19.9M |
| Operating margin | -2.2K% | -339.9% | -136.5% | -81.6% | -52.3% | -36.8% | -33.5% | -21.6% | -12.2% | -5.26% | -3.78% | -11.4% |
| Non-operating income, net | -195K | 559K | -181K | -2M | 67K | -27K | -81K | -145K | 98K | -74K | -87K | 2.5M |
| Pretax income | -39.1M | -41.9M | -35.7M | -33.3M | -23.4M | -23.1M | -25.1M | -20.3M | -12.6M | -6.3M | -4.6M | -15.8M |
| Income tax | 0 | 0 | — | — | — | — | — | — | — | — | 2.4M | 2.7M |
| Net income | -39.1M | -41.9M | -35.7M | -33.3M | -23.4M | -23.1M | -25.1M | -20.3M | -12.6M | -8.4M | -7M | -18.6M |
| Net margin | -2.1K% | -320.4% | -129.4% | -81.6% | -48.7% | -34.8% | -32.1% | -19.8% | -10.6% | -5.52% | -4.3% | -10.7% |
| EBITDA | -37.9M | -41.2M | -33.7M | -29.1M | -20.8M | -20.5M | -22.6M | -17.8M | -10M | -3.8M | -2.2M | -15.7M |
| EPS | -1.28 | -1.31 | -1.01 | -0.88 | -0.61 | -0.6 | -0.64 | -0.48 | -0.3 | -0.2 | -0.16 | -0.43 |
| Diluted EPS | -1.28 | -1.31 | -1.01 | -0.88 | -0.61 | -0.6 | -0.64 | -0.48 | -0.3 | -0.2 | -0.16 | -0.43 |
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 | — | — | — | — | — | — | — | — | 3.6B |
| Enterprise value | — | — | — | — | — | — | — | — | 3B |
| Shares outstanding | 4.3M | 2.4M | 6.2M | 20.6M | 24.6M | 29.4M | 37.6M | 41.8M | 41.8M |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| P/E | — | — | — | — | — | — | — | — | -48.3 |
| P/S | — | — | — | — | — | — | — | — | 5.83 |
| P/B | — | — | — | — | — | — | — | — | 9.43 |
| EV/EBITDA | — | — | — | — | — | — | — | — | -64.1 |
| EV/Sales | — | — | — | — | — | — | — | — | 4.88 |
| Earnings yield | — | — | — | — | — | — | — | — | -2.07% |
| FCF yield | — | — | — | — | — | — | — | — | 1.88% |
| PEG | — | — | — | — | — | — | — | — | 4.64 |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Gross margin | — | — | — | 96.4% | 96.3% | 90.9% | 93% | 93.2% | 93% |
| Operating margin | — | — | — | -21.3% | -242.9% | -820.5% | -65.9% | -15.7% | -11.4% |
| Net margin | — | — | — | -24.2% | -240.5% | -778.9% | -63.2% | -14.7% | -7.66% |
| ROE | 97.4% | 77.8% | -16.2% | -8.29% | -32.2% | -69% | -51.5% | -19.3% | -13.7% |
| ROA | -55.2% | -8.01% | -15.6% | -7.73% | -27.2% | -51.2% | -30.7% | -11.8% | -5.49% |
| ROIC | 36.4% | 6.74% | 2K% | 380.6% | 1.6K% | 60.4K% | -2.1K% | 5.1K% | 5.1K% |
| Return on tangible assets | -55.2% | -8.01% | -15.6% | -7.73% | -27.2% | -51.9% | -31.3% | -12% | -7.69% |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Current ratio | 13.3 | 70.9 | 31.7 | 15.3 | 14.6 | 6.93 | 4.42 | 3.85 | 3.2 |
| Quick ratio | 13.3 | 70.9 | 31.7 | 15.3 | 14.6 | 6.85 | 4.39 | 3.82 | 3.17 |
| Debt / equity | 0 | -0.03 | 0.01 | 0.01 | 0.1 | 0.15 | 0.32 | 0.21 | 0.26 |
| Debt / assets | 0 | 0 | 0 | 0.01 | 0.09 | 0.11 | 0.19 | 0.13 | 0.12 |
| Net debt / EBITDA | 1.75 | 14.7 | 6.22 | 14.3 | 3.34 | 1.49 | 2.1 | 6.36 | 11.9 |
| Interest coverage | — | — | — | — | -29.1 | -41.1 | -14.5 | -6.72 | -3.84 |
| Effective tax rate | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Revenue per share | 0 | 0 | 0 | 2.77 | 1.05 | 0.59 | 4.87 | 10.8 | 14.1 |
| EPS (basic) | -0.31 | -1.98 | -4.32 | -0.67 | -2.52 | -4.62 | -3.07 | -1.59 | -1.59 |
| EPS (diluted) | -0.31 | -1.98 | -4.32 | -0.67 | -2.52 | -4.62 | -3.07 | -1.59 | -1.07 |
| Book value per share | -0.32 | -2.54 | 26.7 | 8.11 | 7.84 | 6.7 | 5.97 | 8.22 | 8.01 |
| FCF per share | -0.28 | -1.63 | -3.48 | 0.15 | -2.01 | -4.19 | -2.38 | -0.53 | 1.29 |
| Cash per share | 0.55 | 24.5 | 27.1 | 8.36 | 8.82 | 7.74 | 7.75 | 9.99 | 10.2 |
| Capex per share | 0 | 0.07 | 0.07 | 0.03 | 0.02 | 0.05 | 0.04 | — | — |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Capex / revenue | — | — | — | 1.03% | 1.96% | 8.61% | 0.86% | — | — |
| Capex / operating cash flow | -0.59% | -4.39% | -2.44% | 24.5% | -1% | -1.26% | -2.03% | — | — |
| Payout ratio | — | — | — | — | — | — | — | — | 0% |
| — |
| -$0.67 |
| — |
| — |
| $57M |
| — |
| FY20 | — | -$4.32 | — | — | $0 | — |
| FY19 | — | -$1.98 | — | — | $0 | — |
| FY18 | — | -$0.31 | — | — | $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 | $1.9M | $13.1M | $27.6M | $40.8M | $48.1M | $66.4M | $78.3M | $102.7M | $118.7M | $151.7M | $162.1M | $173.9M |
| YoY change | +InfinityT% | +30.8% | +1K% | +InfinityT% | +2.5K% | +407.9% | +183.7% | +151.5% | +146.7% | +128.4% | +106.9% | +69.4% |
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 | 2.4M | 58M | 168.1M | 171.8M | 217M | 227.4M | 291.4M | 417.3M |
| Receivables | — | — | — | — | 0 | 16.6M | 46.8M | 85.1M |
| Inventory | — | — | — | — | 0 | 3.1M | 2.6M | 4.4M |
| Total current assets | 2.4M | 58M | 170.7M | 176M | 225.4M | 256.1M | 356.7M | 522.8M |
| Property, plant & equipment | 6K | 280K | 1.2M | 1.8M | 1.5M | 3.3M | 2.9M | 21.7M |
| Goodwill & intangibles | — | — | — | — | 0 | 3.9M | 8.3M | 7.4M |
| Total assets | 2.4M | 58.3M | 172M | 178.9M | 227.9M | 265.5M | 377M | 562.2M |
| Accounts payable | 175K | 456K | 2.2M | 2.9M | 5.5M | 18.1M | 27.7M | 16.4M |
| Short-term debt | — | 64K | 282K | 1.3M | 721K | 398K | 608K | — |
| Total current liabilities | 179K | 819K | 5.4M | 11.5M | 15.4M | 36.9M | 80.6M | 135.7M |
| Long-term debt | 0 | 100K | 549K | 585K | 19.4M | 29.8M | 71.8M | 72.4M |
| Total liabilities | 3.7M | 64.3M | 6M | 12.2M | 35M | 68.5M | 152.5M | 218.7M |
| Shareholders' equity | -1.4M | -6M | 166M | 166.7M | 192.9M | 197M | 224.5M | 343.4M |
| Total debt | 0 | 164K | 831K | 1.9M | 20.2M | 30.2M | 72.5M | 72.4M |
| Net debt | -2.4M | -57.8M | -167.3M | -169.4M | -51.5M | -194.7M | -22.4M | -111.2M |
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 | 246.9M | 227.4M | 298.5M | 323.6M | 317M | 291.4M | 407.9M | 381.1M | 401.8M | 417.3M | 388.7M | 449.7M |
| Receivables | 5.4M | 16.6M | 29.9M | 29.5M | 29.2M | 46.8M | 62.4M | 58.3M | 72.6M | 85.1M | 100.3M | 96M |
| Inventory | 15K | 3.1M | 4M | 2.2M | 2.8M | 2.6M | 2.7M | 3.9M | 3.8M | 4.4M | 4.6M | 4.4M |
| Total current assets | 259.3M | 256.1M | 340.7M | 362.6M | 357.1M | 356.7M | 480.8M | 474.4M | 501.7M | 522.8M | 537.2M | 562M |
| Property, plant & equipment | 3.6M | 3.3M | 3.5M | 4.2M | 4.2M | 2.9M | 3.2M | 3.4M | 16M | 21.7M | 27.7M | 30.4M |
| Goodwill & intangibles | 4M | 3.9M | 3.8M | 3.7M | 8.6M | 8.3M | 8.1M | 7.8M | 7.6M | 7.4M | 7.1M | 6.9M |
| Total assets | 268.3M | 265.5M | 349.3M | 376.8M | 376.3M | 377M | 500.8M | 495M | 534.6M | 562.2M | 581.1M | 611.1M |
| Accounts payable | 10.4M | 18.1M | 19.1M | 26.7M | 26.8M | 27.7M | 28.4M | 28.1M | 40.6M | 16.4M | 24.1M | 40.1M |
| Short-term debt | 423K | 398K | 585K | 605K | 631K | 608K | 384K | 317K | 80K | — | — | — |
| Total current liabilities | 23.2M | 36.9M | 42.5M | 51.6M | 65.9M | 80.6M | 86.3M | 90.3M | 117M | 135.7M | 143.5M | 175.8M |
| Long-term debt | 29.7M | 29.8M | 29.9M | 71.6M | 71.7M | 71.8M | 72M | 72.1M | 72.3M | 72.4M | 72.6M | 72.8M |
| Total liabilities | 54.7M | 68.5M | 74.1M | 124.6M | 138.8M | 152.5M | 158.3M | 162.4M | 199.5M | 218.7M | 232.2M | 264.4M |
| Shareholders' equity | 213.7M | 197M | 275.2M | 252.2M | 237.5M | 224.5M | 342.5M | 332.6M | 335.1M | 343.4M | 349M | 346.7M |
| Total debt | 30.1M | 30.2M | 30.5M | 72.2M | 72.3M | 72.5M | 72.4M | 72.4M | 72.4M | 72.4M | 72.6M | 72.8M |
| Net debt | -196.5M | -194.7M | -163.2M | -108.9M | -103.9M | -22.4M | -103.4M | -24.2M | -40.4M | -111.2M | -29.6M | -131.8M |
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 | -1.3M | -4.7M | -26.8M | -13.8M | -62.1M | -135.9M | -115.6M | -66.4M |
| Depreciation & amortization | 1K | 37K | 96K | 312K | 325K | 877K | 1.2M | 1.8M |
| Stock-based compensation | 9K | 18K | 839K | 8.5M | 13.5M | 19.8M | 27.8M | 41.7M |
| Change in working capital | 130K | 503K | 3.9M | 1.7M | -3M | -4.5M | 8.3M | 11M |
| Operating cash flow | -1.2M | -4M | -18.7M | 2.4M | -50.5M | -118.8M | -77.1M | -12.5M |
| Capital expenditure | -7K | -175K | -456K | -586K | -506K | -1.5M | -1.6M | — |
| Investing cash flow | -7K | -175K | -456K | -586K | -144.6M | 144.6M | -194.2M | -32.3M |
| Dividends paid | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | -28K | — | — | — | — | — |
| Financing cash flow | 3.6M | 59.4M | 223.1M | -303K | 93.4M | 128.6M | 137.9M | 134.8M |
| Net change in cash | 2.4M | 55.3M | 203.9M | 1.5M | -101.7M | 154.4M | -133.4M | 90.1M |
| Free cash flow | -1.2M | -3.8M | -21.6M | 3.2M | -49.5M | -123M | -89.6M | -22.3M |
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 | -39.1M | -41.9M | -35.7M | -33.3M | -23.4M | -23.1M | -25.1M | -20.3M | -12.6M | -8.4M | -7M | -18.6M |
| Depreciation & amortization | 244K | 347K | 270K | 239K | 284K | 432K | 460K | 453K | 460K | 443K | 437K | 1M |
| Stock-based compensation | 5.3M | 5.5M | 5.5M | 7.5M | 7.4M | 7.4M | 6.9M | 8.2M | 12.2M | 14.3M | 12M | 13.3M |
| Change in working capital | -394K | -6.3M | -2.4M | 7.4M | 5.8M | -2.5M | -4.7M | 5.1M | 9.4M | 1.2M | -7M | 48.2M |
| Operating cash flow | -33.8M | -42.1M | -32.1M | -17.9M | -9.6M | -17.5M | -22.2M | -29.4M | 18.3M | 19.3M | -24.7M | 61.2M |
| Capital expenditure | -375K | 0 | -174K | -1M | -282K | -72K | -590K | — | — | — | — | — |
| Investing cash flow | 51.4M | 17.9M | -102.2M | -40.5M | 3.1M | -54.6M | -34.9M | -50.7M | -2.8M | 55.6M | -52.7M | 41.9M |
| Dividends paid | — | — | — | — | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — | — | — | — | — |
| Financing cash flow | 104.4M | 19.2M | 108M | 74.7M | -9.4M | 0 | 135.1M | -354K | 0 | 0 | 0 | 0 |
| Net change in cash | 121.9M | -5.1M | -26.3M | 16.3M | -16M | -72.1M | 78M | -80.4M | 15.4M | 75M | -77.4M | 103.2M |
| Free cash flow | -36.7M | -39.3M | -38M | -15.4M | -8.9M | -27.3M | -21.2M | -30.4M | 16.3M | 13M | -30.5M | 57.2M |