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 | -$0.32 | -$0.37 | -15.6% | — | $0 | — |
| Q1 26 | -$0.31 | -$0.32 | -3.2% | — | $0 | — |
| Q4 25 | -$0.33 | -$0.29 | +12.1% | — | $0 | — |
| Q3 25 | -$0.07 | $0.13 | +285.7% | — | $53.8M | — |
| Q2 25 | -$0.34 | -$0.35 | -2.9% | — | $3.2M | — |
| Q1 25 | -$0.35 | -$0.36 | -2.9% | — | $5.4M | — |
| Q4 24 | -$0.34 | -$0.34 | 0.0% | — | $4.1M | — |
| Q3 24 | -$0.37 | -$0.27 | +27.0% | — | $11.6M | — |
| Q2 24 | -$0.35 | -$0.24 | +31.4% | — | $19.9M | — |
| Q1 24 | -$0.31 | -$0.35 | -12.9% | — | $6.5M | — |
| Q4 23 | -$0.27 | -$0.3 | -11.1% | — | $5.4M | — |
| Q3 23 | -$0.34 | -$0.23 | +32.4% | — | $10.7M | — |
| Q2 23 | -$0.34 | -$0.23 | +32.4% | — | $14.6M | — |
| Q1 23 | -$0.35 | -$0.32 | +8.6% | — | $5.8M | — |
| Q4 22 | -$0.35 | -$0.33 | +5.7% | — | $6.4M | — |
| Q3 22 | -$0.32 | -$0.33 | -3.1% | — | $6.9M | — |
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 | — | -$0.87 | — | — | $62.4M | — |
| FY24 | — | -$1.19 | — | — | $42.1M | — |
| FY23 | — | -$1.08 | — | — | $36.5M | — |
| FY22 | — | -$1.23 | — | — | $24.9M | — |
| FY21 | — | -$0.94 | — |
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 | $7.7M | $37M | $24.9M | $36.5M | $42.1M | $62.4M |
| YoY change | — | +383.8% | -32.9% | +46.9% | +15.2% | +48.3% |
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 | Q1 24 | Q2 24 | Q3 24 |
|---|
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 | 7.7M | 37M | 24.9M | 36.5M | 42.1M | 62.4M |
| Cost of revenue | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — |
| Research & development | 50M | 77.6M | 105.9M | 115.2M | 143.9M | 132.2M |
| Selling, general & administrative | 9.9M | 17.6M | 30M | 35.5M | 43.7M | 41.5M |
| Operating expenses | 59.9M | 95.2M | 135.9M | 150.7M | 187.7M | 173.7M |
| Operating income | -52.2M | -58.2M | -111.1M | -114.2M | -145.6M | -111.3M |
| Operating margin | -681.8% | -157.1% | -446.8% | -312.6% | -346.1% | -178.4% |
| Non-operating income, net | 120K | -248K | 1.5M | 5.9M | 7.6M | 4.1M |
| Pretax income | -52M | -57.9M | -108.1M | -101.6M | -130.1M | -101.6M |
| Income tax | 0 | 292K | 54K | 134K | 208K | 4K |
| Net income | -52M | -58.2M | -108.2M | -101.7M | -130.3M | -101.6M |
| Net margin | -678.8% | -157.2% | -435.1% | -278.5% | -309.7% | -162.9% |
| EBITDA | -51.5M | -57.3M | -109.5M | -111.8M | -143.1M | -109M |
| EPS | -0.59 | -0.94 | -1.23 | -1.08 | -1.19 | -0.87 |
| Diluted EPS | -0.59 | -0.94 | -1.23 | -1.08 | -1.19 | -0.87 |
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 | 10.7M | 5.4M | 6.5M | 19.9M | 11.6M | 4.1M | 5.4M | 3.2M | 53.8M | 0 | 0 | 0 |
| Cost of revenue | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — | — | — | — | — | — |
| Research & development | 27.1M | 31.3M | 38.1M | 38.7M | 33.3M | 33.9M | 36.4M | 32.8M | 30.8M | 32.1M | 33.5M | 37.2M |
| Selling, general & administrative | 9.2M | 9.1M | 10.7M | 10.8M | 11.2M | 11.1M | 11.5M | 11.3M | 8.9M | 9.8M | 15.2M | 22.6M |
| Operating expenses | 36.4M | 40.4M | 48.7M | 49.4M | 44.5M | 45M | 47.9M | 44.1M | 39.7M | 41.9M | 48.8M | 59.8M |
| Operating income | -25.6M | -35M | -42.3M | -29.6M | -32.9M | -40.9M | -42.5M | -41M | 14.1M | -41.9M | -48.8M | -59.8M |
| Operating margin | -238.8% | -644.7% | -653% | -148.7% | -283.3% | -993.7% | -788.8% | -1.3K% | 26.2% | — | — | — |
| Non-operating income, net | 1.5M | 2.1M | 2.2M | 2M | 2M | 1.5M | 1.1M | 910K | 705K | 1.4M | 1.1M | 722K |
| Pretax income | -22.2M | -30.7M | -37.9M | -25.5M | -29.1M | -37.6M | -39.8M | -38.8M | 15.9M | -38.8M | -45.5M | -55.3M |
| Income tax | 23K | 47K | 40K | 65K | 54K | 49K | 34K | 35K | -10K | -55K | 1K | 1K |
| Net income | -22.3M | -30.8M | -37.9M | -25.6M | -29.2M | -37.7M | -39.9M | -38.9M | 15.9M | -38.7M | -45.5M | -55.3M |
| Net margin | -207.4% | -566.4% | -585.9% | -128.6% | -251.3% | -915% | -739.5% | -1.2K% | 29.5% | — | — | — |
| EBITDA | -25M | -34.4M | -41.6M | -28.9M | -32.3M | -40.3M | -41.9M | -40.3M | 14.6M | -41.4M | -48.3M | -59.4M |
| EPS | -0.23 | — | -0.35 | -0.24 | -0.27 | -0.35 | -0.36 | -0.35 | 0.14 | -0.29 | -0.32 | -0.37 |
| Diluted EPS | -0.23 | — | -0.35 | -0.24 | -0.27 | -0.35 | -0.36 | -0.35 | 0.13 | -0.29 | -0.32 | -0.37 |
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 | 1B | — | — | 936.3M | — | 1B | 4.1B |
| Enterprise value | 818.3M | — | — | 638.3M | — | 719.7M | 3.1B |
| Shares outstanding | 87.5M | 62.1M | 87.8M | 94.6M | 109.2M | 116.2M | 116.2M |
| Metric | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| P/E | — | — | — | — | — | — | -28 |
| P/S | 130.7 | — | — | 25.6 | — | 16.5 | 76.1 |
| P/B | 25.9 | — | — | 3.7 | — | 2.97 | 8.95 |
| EV/EBITDA | -15.9 | — | — | -5.71 | — | -6.6 | -23.2 |
| EV/Sales | 106.9 | — | — | 17.5 | — | 11.5 | 57.9 |
| Earnings yield | — | — | — | — | — | — | -3.58% |
| FCF yield | 6.89% | — | — | -12.8% | — | -13.6% | -1.75% |
| PEG | — | — | — | — | — | — | -4.89 |
| Metric | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| Operating margin | -681.8% | -157.1% | -446.8% | -312.6% | -346.1% | -178.4% | -253.4% |
| Net margin | -678.8% | -157.2% | -435.1% | -278.5% | -309.7% | -162.9% | -229.9% |
| ROE | -134.6% | -16.9% | -43.4% | -40.2% | -65.3% | -29.3% | -21.3% |
| ROA | -25.1% | -11.6% | -24.8% | -25.3% | -41.2% | -25.5% | -13% |
| ROIC | 36.3% | 41.9% | 147.1% | 254.5% | 664.6% | -304% | -320.6% |
| Return on tangible assets | -25.1% | -11.6% | -24.8% | -25.3% | -41.2% | -25.5% | -11.5% |
| Metric | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| Current ratio | 4.73 | 12.1 | 6.76 | 7.54 | 6.98 | 16.3 | 50.8 |
| Quick ratio | 4.73 | 12.1 | 6.76 | 7.54 | 6.98 | 16.3 | 50.8 |
| Debt / equity | 0.2 | 0 | 0.16 | 0.15 | 0.18 | 0.1 | 0.03 |
| Debt / assets | 0.04 | 0 | 0.09 | 0.1 | 0.12 | 0.08 | 0.03 |
| Net debt / EBITDA | 3.54 | 8.44 | 2.97 | 2.67 | 1.55 | 2.84 | 7.31 |
| Effective tax rate | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Metric | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| Revenue per share | 0.09 | 0.6 | 0.28 | 0.39 | 0.39 | 0.54 | 0.4 |
| EPS (basic) | -0.59 | -0.94 | -1.23 | -1.08 | -1.19 | -0.87 | -0.87 |
| EPS (diluted) | -0.59 | -0.94 | -1.23 | -1.08 | -1.19 | -0.87 | -0.82 |
| Book value per share | 0.44 | 5.55 | 2.84 | 2.68 | 1.83 | 2.98 | 2.72 |
| FCF per share | 0.79 | -0.99 | -1.33 | -1.26 | -1.21 | -1.2 | -0.96 |
| Cash per share | 2.18 | 7.81 | 4.17 | 3.56 | 2.36 | 2.95 | 6.01 |
| Capex per share | 0.01 | 0.03 | 0.09 | 0.02 | 0.01 | — | — |
| Metric | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| Capex / revenue | 14.4% | 4.96% | 30.9% | 4.18% | 1.79% | — | — |
| Capex / operating cash flow | 1.6% | -3.05% | -6.71% | -1.38% | -0.59% | — | — |
| Payout ratio | — | — | — | — | — | — | 0% |
| — |
| $37M |
| — |
| FY20 | — | -$0.59 | — | — | $7.7M | — |
| Q4 24 |
|---|
| Q1 25 |
|---|
| Q2 25 |
|---|
| Q3 25 |
|---|
| Q4 25 |
|---|
| Q1 26 |
|---|
| Q2 26 |
|---|
| Revenue | $10.7M | $5.4M | $6.5M | $19.9M | $11.6M | $4.1M | $5.4M | $3.2M | $53.8M | $0 | $0 | $0 |
| YoY change | +55.1% | -15.3% | +12.2% | +36.1% | +8.15% | -24.2% | -16.7% | -84% | +363.6% | -100% | -100% | -100% |
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 | 190.3M | 485.3M | 366.1M | 336.9M | 257.9M | 343.1M |
| Receivables | 2M | 2M | 2M | 0 | — | — |
| Inventory | — | — | — | — | — | — |
| Total current assets | 193.6M | 492.3M | 375.3M | 346.5M | 266.3M | 353.8M |
| Property, plant & equipment | 11.3M | 6.1M | 57.8M | 53.4M | 47.6M | 42.5M |
| Goodwill & intangibles | — | — | — | — | — | — |
| Total assets | 207.3M | 500.2M | 436.5M | 402.6M | 316.5M | 398.7M |
| Accounts payable | 1.8M | 3.2M | 4.5M | 2.8M | 1.6M | 1.2M |
| Short-term debt | 959K | 1.5M | 1.8M | 2.1M | 2.5M | 2.7M |
| Total current liabilities | 40.9M | 40.7M | 55.5M | 45.9M | 38.2M | 21.7M |
| Long-term debt | 6.9M | 0 | 39.4M | 36.8M | 34M | 30.8M |
| Total liabilities | 168.7M | 155.4M | 187M | 149.5M | 117M | 52.5M |
| Shareholders' equity | 38.6M | 344.7M | 249.5M | 253.1M | 199.5M | 346.2M |
| Total debt | 7.9M | 1.5M | 41.1M | 38.9M | 36.5M | 33.6M |
| Net debt | -20.5M | -141.2M | -18.8M | -27.5M | -33M | -78.7M |
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 | 359.9M | 336.9M | 343.6M | 322.1M | 293.3M | 257.9M | 216.7M | 180.8M | 152.8M | 343.1M | 379.8M | 1B |
| Receivables | 0 | 0 | — | — | — | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current assets | 370.9M | 346.5M | 352M | 328.4M | 300.8M | 266.3M | 224.9M | 190.1M | 163.8M | 353.8M | 392.3M | 1B |
| Property, plant & equipment | 54.7M | 53.4M | 51.6M | 50.5M | 49M | 47.6M | 47.2M | 45.3M | 43.9M | 42.5M | 41M | 39.8M |
| Goodwill & intangibles | — | — | — | — | — | — | — | — | — | — | — | — |
| Total assets | 428.2M | 402.6M | 406.2M | 381.5M | 352.4M | 316.5M | 274.3M | 237.9M | 210.1M | 398.7M | 435.8M | 1.1B |
| Accounts payable | 2.8M | 2.8M | 3.9M | 1.1M | 4.1M | 1.6M | 3.2M | 2.6M | 2.2M | 1.2M | 2.4M | 1.8M |
| Short-term debt | 2M | 2.1M | 2.1M | 2.4M | 2.9M | 2.5M | 2.8M | 2.5M | 3.1M | 2.7M | 2.8M | 2.9M |
| Total current liabilities | 43.4M | 45.9M | 42.8M | 43.9M | 37.6M | 38.2M | 35.9M | 40M | 18.4M | 21.7M | 14.3M | 20.3M |
| Long-term debt | 37.5M | 36.8M | 36.2M | 35.5M | 34.8M | 34M | 34.1M | 32.5M | 31.7M | 30.8M | 30M | 29M |
| Total liabilities | 151.6M | 149.5M | 141.8M | 133.8M | 123.2M | 117M | 107.5M | 102.9M | 50.1M | 52.5M | 44.3M | 49.3M |
| Shareholders' equity | 276.6M | 253.1M | 264.5M | 247.7M | 229.2M | 199.5M | 166.8M | 135M | 160M | 346.2M | 391.5M | 1B |
| Total debt | 39.5M | 38.9M | 38.2M | 37.8M | 37.6M | 36.5M | 36.9M | 35M | 34.8M | 33.6M | 32.8M | 32M |
| Net debt | -19M | -27.5M | -22.9M | -13.7M | -15.5M | -33M | -21.5M | -4.3M | -23.6M | -78.7M | -125M | -313.6M |
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 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|
| Net income | -52M | -58.2M | -108.2M | -101.7M | -130.3M | -101.6M |
| Depreciation & amortization | 718K | 897K | 1.6M | 2.4M | 2.5M | 2.3M |
| Stock-based compensation | 1.8M | 7.8M | 14.2M | 19.1M | 28.9M | 26.4M |
| Change in working capital | 117.6M | -12M | -24.1M | -33.7M | -33.3M | -66.5M |
| Operating cash flow | 69M | -60.2M | -114.7M | -110.3M | -128.4M | -138.9M |
| Capital expenditure | -1.1M | -1.8M | -7.7M | -1.5M | -754K | — |
| Investing cash flow | -145.5M | -183.4M | 26.4M | 41.4M | 86.1M | -39.8M |
| Dividends paid | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — |
| Financing cash flow | 80.8M | 356.3M | -8K | 80.5M | 41.7M | 212.4M |
| Net change in cash | 4.3M | 112.6M | -88.3M | 11.6M | -539K | 33.7M |
| Free cash flow | 69M | -61.4M | -116.8M | -119.5M | -132.3M | -139.9M |
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 | -22.3M | -30.8M | -37.9M | -25.6M | -29.2M | -37.7M | -39.9M | -38.9M | 15.9M | -38.7M | -45.5M | -55.3M |
| Depreciation & amortization | 613K | 617K | 625K | 632K | 622K | 620K | 622K | 625K | 555K | 479K | 463K | 425K |
| Stock-based compensation | 4.9M | 4.9M | 6.7M | 7.5M | 7.2M | 7.5M | 7.3M | 6.6M | 6.6M | 6M | 10.8M | 16.9M |
| Change in working capital | -13.1M | -6.1M | -5.6M | -11.1M | -8.8M | -7.7M | -4.5M | -5.2M | -54.4M | -2.4M | 1M | -1.6M |
| Operating cash flow | -29M | -30.5M | -35.2M | -27.6M | -29.2M | -36.4M | -35.6M | -36.5M | -31M | -29.7M | -44.4M | -38.9M |
| Capital expenditure | -16K | -226K | -195K | -320K | -115K | -124K | -51K | — | — | — | — | — |
| Investing cash flow | -56.7M | 33.9M | -11.2M | 12.7M | 32.6M | 52.1M | 30.6M | 17.4M | 47.6M | -135.5M | 9.6M | -446M |
| Dividends paid | — | — | — | — | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — | — | — | — | — |
| Financing cash flow | 79.8M | 626K | 41.7M | 0 | 0 | 0 | 0 | 0 | 0 | 212.4M | 62.2M | 651.9M |
| Net change in cash | -5.8M | 4M | -4.7M | -14.9M | 3.4M | 15.7M | -5M | -19.1M | 16.7M | 47.2M | 27.5M | 167.1M |
| Free cash flow | -31.2M | -27.7M | -38.1M | -23.9M | -33.5M | -36.8M | -41.7M | -37.1M | -31.1M | -29.9M | -44.4M | -38.9M |