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 | -$0.23 | -15.0% | — | $1.1M | — |
| Q1 26 | -$0.16 | -$0.22 | -37.5% | — | $982K | — |
| Q4 25 | -$0.28 | -$0.18 | +35.7% | — | $2.6M | — |
| Q3 25 | -$0.33 | -$0.28 | +15.2% | — | $2.5M | — |
| Q2 25 | -$0.32 | -$0.28 | +12.5% | — | $3.1M | — |
| Q1 25 | -$0.28 | -$0.26 | +7.1% | — | $2.2M | — |
| Q4 24 | -$0.28 | -$0.29 | -3.6% | — | $665K | — |
| Q3 24 | -$0.29 | -$0.25 | +13.8% | — | $1M | — |
| Q2 24 | -$0.28 | -$0.28 | 0.0% | — | $536K | — |
| Q1 24 | -$0.24 | -$0.32 | -33.3% | — | $566K | — |
| Q4 23 | -$0.25 | -$0.11 | +56.0% | — | $7.2M | — |
| Q3 23 | -$0.44 | -$0.24 | +45.5% | — | $3.9M | — |
| Q2 23 | -$0.78 | -$0.51 | +34.6% | — | $3.1M | — |
| Q1 23 | -$0.75 | -$0.93 | -24.0% | — | $6.8M | — |
| Q4 22 | -$0.72 | -$0.78 | -8.3% | — | $3.1M | — |
| Q3 22 | -$0.71 | -$0.67 | +5.6% | — | $3.4M | — |
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 | — | — | $10.3M | — |
| FY24 | — | -$1.14 | — | — | $2.8M | — |
| FY23 | — | -$1.36 | — | — | $21M | — |
| FY22 | — | -$2.75 | — | — | $13.5M | — |
| FY21 | — | -$4.17 |
Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.
| Period | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|
| Revenue | $0 | $1.1M | $10.1M | $13.5M | $21M | $2.8M | $10.3M |
| YoY change | — | +InfinityT% | +834.7% | +33.5% | +55.5% | -86.6% | +266.7% |
Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.
| Period | Q3 23 | Q4 23 |
|---|
Revenue, gross profit, operating income, and net income per period.
Click a row to chart it; unreported figures show a dash.
| Period | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|
| Revenue | 0 | 1.1M | 10.1M | 13.5M | 21M | 2.8M | 10.3M |
| Cost of revenue | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — |
| Research & development | 9.4M | 20.6M | 45M | 59.8M | 88.2M | 107.3M | 114.2M |
| Selling, general & administrative | 4.8M | 6.7M | 13.8M | 20.4M | 26.4M | 29.6M | 31.3M |
| Operating expenses | 14.2M | 27.3M | 58.8M | 80.2M | 114.5M | 136.9M | 145.5M |
| Operating income | -14.2M | -26.2M | -48.6M | -66.6M | -93.5M | -134.8M | -135.8M |
| Operating margin | — | -2.4K% | -479.6% | -492.3% | -444% | -4.8K% | -1.3K% |
| Non-operating income, net | — | — | — | — | — | -1.1M | — |
| Pretax income | -13.7M | -26.1M | -48.6M | -66.2M | -89.2M | -127.5M | -129.8M |
| Income tax | — | — | — | — | — | — | — |
| Net income | -13.7M | -26.1M | -48.6M | -66.2M | -89.2M | -127.5M | -129.8M |
| Net margin | — | -2.4K% | -479.5% | -489.3% | -423.9% | -4.5K% | -1.3K% |
| EBITDA | -13.7M | -25M | -45.3M | -59.9M | -80.1M | -118.6M | -124.1M |
| EPS | -0.57 | -1.09 | -4.17 | -2.75 | -1.36 | -1.14 | -1 |
| Diluted EPS | -0.57 | -1.09 | -4.17 | -2.75 | -1.36 | -1.14 | -1 |
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 | 3.9M | 7.2M | 566K | 536K | 1M | 665K | 2.2M | 3.1M | 2.5M | 2.6M | 982K | 1.1M |
| Cost of revenue | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — | — | — | — | — | — |
| Research & development | 22.7M | 22.4M | 24.9M | 26.9M | 26.3M | 29.4M | 29.8M | 32.6M | 31.7M | 20M | 21.9M | 23.4M |
| Selling, general & administrative | 5.9M | 6.2M | 7.1M | 7.8M | 7.4M | 7.3M | 8.5M | 8.9M | 7.7M | 5.7M | 8.1M | 8.1M |
| Operating expenses | 28.6M | 28.6M | 31.9M | 34.6M | 33.7M | 36.6M | 38.2M | 41.6M | 39.4M | 25.8M | 30M | 31.5M |
| Operating income | -24.7M | -21.4M | -31.4M | -34.1M | -32.6M | -36.7M | -36.3M | -38.7M | -37.1M | -23.9M | -29.1M | -30.5M |
| Operating margin | -636.7% | -296.2% | -5.5K% | -6.4K% | -3.1K% | -5.5K% | -1.7K% | -1.3K% | -1.5K% | -929.4% | -3K% | -2.9K% |
| Non-operating income, net | — | — | — | — | — | — | — | — | — | — | — | — |
| Pretax income | -23M | -19.6M | -30.1M | -31.7M | -29.9M | -35.8M | -34.1M | -37M | -35.7M | -23M | -28.7M | -30.4M |
| Income tax | — | — | — | — | — | — | — | — | — | — | — | — |
| Net income | -23M | -19.6M | -30.1M | -31.7M | -29.9M | -35.8M | -34.1M | -37M | -35.7M | -23M | -28.7M | -30.4M |
| Net margin | -591.6% | -272% | -5.3K% | -5.9K% | -2.8K% | -5.4K% | -1.6K% | -1.2K% | -1.4K% | -895.1% | -2.9K% | -2.9K% |
| EBITDA | -20.7M | -17.5M | -27.9M | -29.6M | -27.9M | -34.3M | -32.8M | -35.6M | -34.2M | -21.6M | -27.3M | -29M |
| EPS | -0.24 | — | -0.32 | -0.28 | -0.25 | -0.3 | -0.26 | -0.28 | -0.28 | -0.18 | -0.22 | -0.23 |
| Diluted EPS | -0.24 | — | -0.32 | -0.28 | -0.25 | -0.3 | -0.26 | -0.28 | -0.28 | -0.18 | -0.22 | -0.23 |
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 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| Market cap | — | — | — | — | — | — | — | 22.2M |
| Enterprise value | — | — | — | — | — | — | — | 13.8M |
| Shares outstanding | 23.9M | 23.9M | 11.7M | 24M | 65.6M | 112M | 129.8M | 129.8M |
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| P/E | — | — | — | — | — | — | — | -0.34 |
| P/S | — | — | — | — | — | — | — | 3.12 |
| P/B | — | — | — | — | — | — | — | 0.33 |
| EV/EBITDA | — | — | — | — | — | — | — | -0.12 |
| EV/Sales | — | — | — | — | — | — | — | 1.94 |
| Earnings yield | — | — | — | — | — | — | — | -297% |
| FCF yield | — | — | — | — | — | — | — | -359.7% |
| PEG | — | — | — | — | — | — | — | 0.02 |
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| Operating margin | — | -2.4K% | -479.6% | -492.3% | -444% | -4.8K% | -1.3K% | -2.9K% |
| Net margin | — | -2.4K% | -479.5% | -489.3% | -423.9% | -4.5K% | -1.3K% | 0% |
| ROE | 79.7% | 61.5% | -30.2% | -66.6% | -59.1% | -52.9% | -105.4% | -95.8% |
| ROA | -27.7% | -52.5% | -25.8% | -33.3% | -32.8% | -34.4% | -56.7% | -31.5% |
| Return on tangible assets | -27.7% | -52.5% | -25.8% | -33.3% | -32.8% | -34.4% | -56.7% | -68.7% |
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| Current ratio | 17.7 | 2.09 | 7.76 | 7.17 | 6.51 | 8.14 | 8.41 | 3.37 |
| Quick ratio | 17.7 | 2.09 | 7.76 | 7.17 | 6.51 | 8.14 | 8.41 | 3.37 |
| Debt / equity | -0.29 | -0.18 | 0.04 | 0.86 | 0.61 | 0.4 | 0.76 | 1.32 |
| Debt / assets | 0.1 | 0.15 | 0.03 | 0.43 | 0.34 | 0.26 | 0.41 | 0.53 |
| Net debt / EBITDA | 2.69 | 1.09 | 3.43 | 0.57 | 1.24 | 1.62 | 0.47 | 0.08 |
| Interest coverage | — | — | — | -55.3 | -22.7 | -33.9 | -45.9 | -41.2 |
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| Revenue per share | 0 | 0.05 | 0.87 | 0.56 | 0.32 | 0.03 | 0.08 | 0.1 |
| EPS (basic) | -0.57 | -1.09 | -4.17 | -2.75 | -1.36 | -1.14 | -1 | -1 |
| EPS (diluted) | -0.57 | -1.09 | -4.17 | -2.75 | -1.36 | -1.14 | -1 | -0.9 |
| Book value per share | -0.72 | -1.77 | 13.8 | 4.13 | 2.3 | 2.15 | 0.95 | 1.02 |
| FCF per share | -0.58 | -0.3 | -5.03 | -2.94 | -0.98 | -1.02 | -1.08 | -0.91 |
| Cash per share | 1.74 | 1.45 | 13.8 | 4.99 | 2.93 | 2.59 | 1.17 | 1.48 |
| Capex per share | 0.05 | 0.18 | 0.85 | 0.18 | 0.05 | 0.03 | — | — |
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| Capex / revenue | — | 390.6% | 98% | 31.2% | 14.9% | 135.8% | — | — |
| Capex / operating cash flow | -9.88% | -125.8% | -20.2% | -6.32% | -4.83% | -3.41% | — | — |
| Payout ratio | — | — | — | — | — | — | 0% | 0% |
| — |
| — |
| $10.1M |
| — |
| FY20 | — | -$1.09 | — | — | $1.1M | — |
| FY19 | — | -$0.57 | — | — | $0 | — |
| Q1 24 |
|---|
| Q2 24 |
|---|
| Q3 24 |
|---|
| Q4 24 |
|---|
| Q1 25 |
|---|
| Q2 25 |
|---|
| Q3 25 |
|---|
| Q4 25 |
|---|
| Q1 26 |
|---|
| Q2 26 |
|---|
| Revenue | $3.9M | $7.2M | $566K | $536K | $1M | $665K | $2.2M | $3.1M | $2.5M | $2.6M | $982K | $1.1M |
| YoY change | +15.6% | +133% | -91.7% | -83% | -73% | -90.8% | +283.6% | +473.9% | +139.4% | +286% | -54.8% | -65.8% |
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 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|
| Cash & short-term investments | 41.8M | 34.8M | 161.4M | 120M | 192M | 290.1M | 152.4M |
| Receivables | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — |
| Total current assets | 42.4M | 36.4M | 165.7M | 124.1M | 194.2M | 292.7M | 157.2M |
| Property, plant & equipment | 6.4M | 12.5M | 17.3M | 69.2M | 71.2M | 71.6M | 66.4M |
| Goodwill & intangibles | — | — | — | — | — | — | — |
| Total assets | 49.4M | 49.7M | 188.1M | 199.1M | 272.1M | 371.1M | 228.8M |
| Accounts payable | 1M | 2.9M | 1.8M | 2.9M | 2.4M | 4.3M | 1.2M |
| Short-term debt | 443K | 1.4M | 1.7M | 3.7M | 6.6M | 4.6M | 7.2M |
| Total current liabilities | 2.4M | 17.4M | 21.3M | 17.3M | 29.8M | 36M | 18.7M |
| Long-term debt | 4.4M | 6M | 4.4M | 82.3M | 85.8M | 92.8M | 87M |
| Total liabilities | 66.5M | 92.2M | 27.3M | 99.7M | 121.3M | 130.1M | 105.7M |
| Shareholders' equity | -17.1M | -42.5M | 160.8M | 99.4M | 150.9M | 241M | 123.1M |
| Total debt | 4.9M | 7.4M | 6M | 86M | 92.4M | 97.4M | 94.1M |
| Net debt | -36.9M | -27.4M | -155.4M | -34M | -40.9M | -81.3M | -58.3M |
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 | 215.4M | 192M | 162.8M | 297.7M | 271.1M | 290.1M | 251.7M | 218M | 184.5M | 152.4M | 128.1M | 100.2M |
| Receivables | — | — | — | — | — | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current assets | 217.6M | 194.2M | 164.7M | 299.5M | 274.1M | 292.7M | 254.8M | 221.1M | 188.2M | 157.2M | 132.8M | 104.4M |
| Property, plant & equipment | 67.1M | 71.2M | 69.4M | 68.6M | 67.1M | 71.6M | 71.1M | 70.6M | 68.7M | 66.4M | 64.1M | 62M |
| Goodwill & intangibles | — | — | — | — | — | — | — | — | — | — | — | — |
| Total assets | 291.4M | 272.1M | 240.8M | 374.9M | 348M | 371.1M | 332.7M | 298.6M | 262.2M | 228.8M | 202M | 171.5M |
| Accounts payable | 3.2M | 2.4M | 2.1M | 3.1M | 3.6M | 4.3M | 5M | 4.5M | 6.4M | 1.2M | 2.3M | 3.1M |
| Short-term debt | 5.5M | 6.6M | 10.1M | 13.9M | 3.9M | 4.6M | 5M | 6.3M | 6.9M | 7.2M | 7.4M | 19.4M |
| Total current liabilities | 33.2M | 29.8M | 31.5M | 38.6M | 28.7M | 36M | 29.8M | 31.3M | 29.2M | 18.7M | 20M | 31M |
| Long-term debt | 81.5M | 85.8M | 81.6M | 77.1M | 86.5M | 92.8M | 92.1M | 90.4M | 88.7M | 87M | 85.1M | 71.5M |
| Total liabilities | 122.4M | 121.3M | 117.9M | 119.7M | 118.9M | 130.1M | 122.5M | 121.8M | 118.2M | 105.7M | 105.1M | 102.4M |
| Shareholders' equity | 169M | 150.9M | 123M | 255.2M | 229.1M | 241M | 210.2M | 176.7M | 144M | 123.1M | 96.9M | 69M |
| Total debt | 87M | 92.4M | 91.8M | 91.1M | 90.4M | 97.4M | 97M | 96.7M | 95.6M | 94.1M | 92.5M | 90.9M |
| Net debt | -68.2M | -40.9M | -48.8M | -151.1M | -42.8M | -81.3M | -57.1M | -72.7M | -73.9M | -58.3M | -35.5M | -9.3M |
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 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|
| Net income | -13.7M | -26.1M | -48.6M | -66.2M | -89.2M | -127.5M | -129.8M |
| Depreciation & amortization | 519K | 1.2M | 3.3M | 5.1M | 5.4M | 4.1M | 2.9M |
| Stock-based compensation | 240K | 515K | 2.5M | 4.6M | 5.2M | 9.5M | 11.7M |
| Change in working capital | 276K | 21M | -6.5M | -10.6M | 12.8M | 1.1M | -10.4M |
| Operating cash flow | -12.6M | -3.4M | -49.3M | -66.8M | -65.1M | -112M | -135.3M |
| Capital expenditure | -1.2M | -4.2M | -9.9M | -4.2M | -3.1M | -3.8M | — |
| Investing cash flow | -1.2M | -4.2M | -9.9M | -4.2M | -60.8M | -52.6M | 113.8M |
| Dividends paid | — | — | — | — | — | — | 0 |
| Share repurchases | — | — | — | — | — | — | — |
| Financing cash flow | 34.8M | 0 | 189.4M | 29.2M | 42.4M | 48.4M | -400K |
| Net change in cash | 20.9M | -7.6M | 130.1M | -41.8M | -83.5M | -116.2M | -21.9M |
| Free cash flow | -13.8M | -7.3M | -58.6M | -70.7M | -64.5M | -114.6M | -139.7M |
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 | -23M | -19.6M | -30.1M | -31.7M | -29.9M | -35.8M | -34.1M | -37M | -35.7M | -23M | -28.7M | -30.4M |
| Depreciation & amortization | 1.3M | 1.3M | 1.3M | 1.1M | 1M | 711K | 678K | 698K | 767K | 723K | 693K | 699K |
| Stock-based compensation | 1.3M | 1.5M | 2M | 2.3M | 2.5M | 2.7M | 3.4M | 3.3M | 3M | 2M | 2.5M | 2.4M |
| Change in working capital | -3.9M | -7.5M | -762K | 253K | 366K | 1.2M | -446K | -2.3M | -116K | -7.5M | 79K | -199K |
| Operating cash flow | -24M | -24.2M | -27.5M | -27.8M | -25.8M | -31M | -30.4M | -33.3M | -32.5M | -32M | -24.3M | -27.5M |
| Capital expenditure | -1.4M | -469K | -705K | -862K | -1.4M | -888K | -1.5M | — | — | — | — | — |
| Investing cash flow | -61.4M | -18.1M | 36.2M | -33.7M | -82.4M | 27.3M | 13.5M | 49.7M | 34M | 15M | 0 | 0 |
| Dividends paid | — | — | — | — | — | — | 0 | 0 | 0 | 0 | 0 | 0 |
| Share repurchases | — | — | — | — | — | — | — | — | — | — | — | — |
| Financing cash flow | -186K | 0 | — | — | 0 | 0 | -400K | 0 | 0 | 0 | 0 | 0 |
| Net change in cash | -85.6M | -42.3M | 8.7M | -61.5M | -108.1M | -3.7M | -17.2M | 16.4M | 1.5M | -17M | -24.3M | -27.5M |
| Free cash flow | 6.6M | -24.2M | -30M | -27.1M | -29.3M | -28.3M | -39.1M | -34.5M | -33.9M | -32.2M | -24.3M | -28M |