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 | -$0.3 | -$0.34 | -13.3% | — | $0 | — |
| Q1 26 | -$0.28 | -$0.5 | -78.6% | — | $0 | — |
| Q4 25 | -$0.62 | -$0.62 | 0.0% | — | $0 | — |
| Q3 25 | -$3.27 | -$0.79 | +75.8% | — | $0 | — |
| Q2 25 | -$3.23 | -$2.07 | +35.9% | — | $0 | — |
| Q1 25 | -$3.29 | -$3.16 | +4.0% | — | $0 | — |
| Q4 24 | -$3.18 | -$4.03 | -26.7% | — | $0 | — |
| Q3 24 | -$4.58 | -$5.33 | -16.4% | — | $0 | — |
| Q2 24 | -$5.33 | -$5.46 | -2.4% | — | $0 | — |
| Q1 24 | -$4.94 | -$4.68 | +5.3% | — | $0 | — |
| Q4 23 | -$5.03 | -$4.42 | +12.1% | — | $0 | — |
| Q3 23 | -$0.57 | -$0.48 | +15.8% | — | $0 | — |
| Q2 23 | -$0.52 | -$0.54 | -3.8% | — | $0 | — |
| Q1 23 | -$0.64 | -$0.55 | +14.1% | — | $0 | — |
| Q4 22 | -$0.76 | -$0.63 | +17.1% | — | $0 | — |
| Q3 22 | -$9.88 | -$8.58 | +13.2% | — | $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 | — | -$6.33 | — | — | $0 | — |
| FY24 | — | -$19.5 | — | — | $0 | — |
| FY23 | — | -$1.91 | — | — | $0 | — |
| FY22 | — | -$3.09 | — | — | $0 | — |
| FY21 | — | -$7.47 | — |
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 | $0 | $0 | $0 | $0 | $0 | $0 |
| YoY change | — | 0% | 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.
| Period | Q3 23 | Q4 23 | Q1 24 | Q2 24 | Q3 24 | Q4 24 | Q1 25 |
|---|
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 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cost of revenue | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — |
| Research & development | 14.4M | 17.2M | 22.5M | 17.5M | 28.5M | 12.6M |
| Selling, general & administrative | 4.9M | 9.8M | 12.1M | 11.7M | 13.6M | 14M |
| Operating expenses | 19.3M | 27M | 34.6M | 29.2M | 42M | 26.6M |
| Operating income | -19.3M | -27M | -34.6M | -29.2M | -42M | -26.6M |
| Operating margin | — | — | — | — | — | — |
| Non-operating income, net | — | -41K | -51K | 15K | — | — |
| Pretax income | -19.2M | -28.3M | -35.7M | -29.5M | -41.8M | -26.3M |
| Income tax | 0 | 0 | 0 | 0 | 0 | 0 |
| Net income | -19.2M | -28.3M | -35.7M | -29.5M | -41.8M | -26.3M |
| Net margin | — | — | — | — | — | — |
| EBITDA | -18.9M | -26.6M | -33.5M | -27.7M | -40.1M | -25.8M |
| EPS | -2.89 | -7.47 | -3.09 | -1.91 | -19.5 | -6.33 |
| Diluted EPS | -2.89 | -7.47 | -3.09 | -1.91 | -19.5 | -6.33 |
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 | 4.2M | 4.2M | 4.3M | 5.8M | 7.6M | 10.7M | 7.6M | 3.9M | 570K | 539K | 114K | 1.8M |
| Selling, general & administrative | 2.4M | 3.3M | 3.6M | 3.7M | 3M | 3.2M | 3.3M | 4.1M | 3M | 3.5M | 5.4M | 3.4M |
| Operating expenses | 6.6M | 7.5M | 8M | 9.6M | 10.6M | 13.9M | 10.9M | 8M | 3.6M | 4.1M | 5.5M | 5.3M |
| Operating income | -6.6M | -7.5M | -8M | -9.6M | -10.6M | -13.9M | -10.9M | -8M | -3.6M | -4.1M | -5.5M | -5.3M |
| Operating margin | — | — | — | — | — | — | — | — | — | — | — | — |
| Non-operating income, net | 179K | -697K | — | — | — | — | — | — | — | — | -22.2M | — |
| Pretax income | -6.8M | -7.5M | -7.9M | -9.6M | -10.6M | -13.8M | -10.9M | -7.9M | -3.5M | -4M | -27.7M | -5.2M |
| Income tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net income | -6.8M | -7.5M | -7.9M | -9.6M | -10.6M | -13.8M | -10.9M | -7.9M | -3.5M | -4M | -27.7M | -5.2M |
| Net margin | — | — | — | — | — | — | — | — | — | — | — | — |
| EBITDA | -6.3M | -7M | -7.4M | -9M | -10.1M | -13.5M | -10.6M | -7.8M | -3.4M | -4M | -5.5M | -5.2M |
| EPS | -0.48 | — | -0.36 | -5.46 | -5.33 | — | -41.1 | -2.07 | -0.79 | — | -2.53 | -0.34 |
| Diluted EPS | -0.48 | — | -0.36 | -5.46 | -5.33 | — | -41.1 | -2.07 | -0.79 | — | -2.53 | -0.34 |
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 | 2.8B | — | — | — | — | — | 13.8M |
| Enterprise value | 2.8B | — | — | — | — | — | 20M |
| Shares outstanding | 6.6M | 3.8M | 11.6M | 15.4M | 3.4M | 4.1M | 4.1M |
| Metric | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| P/E | — | — | — | — | — | — | -0.13 |
| P/B | -40.2 | — | — | — | — | — | 14.5 |
| EV/EBITDA | -145.9 | — | — | — | — | — | -0.94 |
| Earnings yield | — | — | — | — | — | — | -752% |
| FCF yield | -0.69% | — | — | — | — | — | -112.7% |
| PEG | — | — | — | — | — | — | 0 |
| Metric | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| Operating margin | — | — | — | — | — | — | 0% |
| Net margin | — | — | — | — | — | — | 0% |
| ROE | 27.9% | -78.4% | -197.2% | -110.2% | -218.8% | -393.9% | -931.1% |
| ROA | -84% | -38.6% | -77.5% | -57.1% | -100.9% | -155.1% | -79.4% |
| ROIC | 22.7% | -955.3% | -385.1% | -355.6% | -995.2% | -374.2% | -324.4% |
| Return on tangible assets | -84% | -38.6% | -77.5% | -57.1% | -100.9% | -155.1% | -420.1% |
| Metric | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| Current ratio | 6.15 | 3.44 | 4.53 | 4.29 | 2.21 | 2.5 | 0.38 |
| Quick ratio | 6.15 | 3.44 | 4.53 | 4.29 | 2.21 | 2.5 | 0.38 |
| Debt / equity | -0.04 | 0.51 | 1.22 | 0.77 | 0.8 | 1.22 | -0.07 |
| Debt / assets | 0.11 | 0.25 | 0.48 | 0.4 | 0.37 | 0.48 | 0.78 |
| Net debt / EBITDA | 0.87 | 1.25 | 0.27 | 0.67 | 0.37 | -0.02 | -0.38 |
| Interest coverage | — | -21.1 | -21.1 | -19.4 | -30.8 | -125.9 | -125.9 |
| Effective tax rate | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Metric | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| Revenue per share | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (basic) | -2.89 | -7.47 | -3.09 | -1.91 | -19.5 | -6.33 | -6.33 |
| EPS (diluted) | -2.89 | -7.47 | -3.09 | -1.91 | -19.5 | -6.33 | -3.68 |
| Book value per share | -10.4 | 9.53 | 1.57 | 1.74 | 5.65 | 1.61 | 0.06 |
| FCF per share | -2.87 | -6.88 | -2.74 | -1.79 | -9.89 | -6.46 | -1.36 |
| Cash per share | 2.84 | 13.7 | 2.7 | 2.54 | 8.95 | 1.86 | 0.05 |
| Capex per share | 0.01 | 0.04 | 0.05 | 0.01 | 0.13 | — | — |
| Metric | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| Capex / operating cash flow | -0.27% | -0.51% | -1.68% | -0.64% | -1.27% | — | — |
| Payout ratio | — | — | — | — | — | — | 0% |
| — |
| $0 |
| — |
| FY20 | — | -$2.89 | — | — | $0 | — |
| 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 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|
| Cash & short-term investments | 18.8M | 51.8M | 31.2M | 39.2M | 30.3M | 7.7M |
| Receivables | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — |
| Total current assets | 19.8M | 69M | 33M | 40.4M | 31.5M | 8.3M |
| Property, plant & equipment | 1.1M | 1.1M | 1.1M | 840K | 9.5M | 8.1M |
| Goodwill & intangibles | — | — | — | — | — | — |
| Total assets | 22.9M | 73.2M | 46.1M | 51.6M | 41.5M | 16.9M |
| Accounts payable | 1.1M | 991K | 1.1M | 845K | 2.5M | 1M |
| Short-term debt | 712K | 1.4M | 1.4M | 5.2M | 7.2M | 1.2M |
| Total current liabilities | 3.2M | 20M | 7.3M | 9.4M | 14.2M | 3.3M |
| Long-term debt | 1.7M | 17.1M | 20.7M | 15.4M | 8.1M | 6.9M |
| Total liabilities | 91.7M | 37.1M | 28M | 24.8M | 22.4M | 10.3M |
| Shareholders' equity | -68.8M | 36.1M | 18.1M | 26.8M | 19.1M | 6.7M |
| Total debt | 2.4M | 18.5M | 22.1M | 20.7M | 15.4M | 8.1M |
| Net debt | -16.4M | -33.3M | -9.1M | -18.6M | -14.9M | 434K |
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 | 11.1M | 39.2M | 32.3M | 31.1M | 22.1M | 30.3M | 21.5M | 14.3M | 7.5M | 7.7M | 1.8M | 779K |
| Receivables | — | — | — | — | — | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current assets | 12.3M | 40.4M | 33.5M | 31.5M | 23.6M | 31.5M | 22.4M | 15.1M | 8.1M | 8.3M | 2.4M | 1.7M |
| Property, plant & equipment | 921K | 840K | 920K | 10.2M | 932K | 9.5M | 9.2M | 8.9M | 8.5M | 8.1M | 7.8M | 7.4M |
| Goodwill & intangibles | — | — | — | — | — | — | — | — | — | — | — | — |
| Total assets | 24M | 51.6M | 44.4M | 42.2M | 33.8M | 41.5M | 32.2M | 24.5M | 17.1M | 16.9M | 10.7M | 9.6M |
| Accounts payable | 1.1M | 845K | 1.1M | 1.4M | 1.7M | 2.5M | 2.2M | 4.7M | 922K | 1M | 585K | 2M |
| Short-term debt | 3.3M | 5.2M | 7.3M | 9.6M | 9.3M | 7.2M | 5.3M | 1.1M | 1.1M | 1.2M | 1.2M | 1.3M |
| Total current liabilities | 7.4M | 9.4M | 10.7M | 14.6M | 14M | 14.2M | 13.2M | 7.1M | 3.5M | 3.3M | 3.3M | 4.5M |
| Long-term debt | 17.8M | 15.4M | 13.1M | 10.7M | 8.4M | 8.1M | 7.9M | 7.6M | 7.3M | 6.9M | 6.6M | 6.3M |
| Total liabilities | 25.2M | 24.8M | 23.7M | 25.2M | 22.4M | 22.4M | 21M | 14.7M | 10.8M | 10.3M | 9.9M | 10.7M |
| Shareholders' equity | -1.2M | 26.8M | 20.6M | 16.9M | 11.5M | 19.1M | 11.1M | 9.8M | 6.3M | 6.7M | 822K | -1.1M |
| Total debt | 21M | 20.7M | 20.4M | 20.3M | 17.7M | 15.4M | 13.1M | 8.7M | 8.4M | 8.1M | 7.9M | 7.6M |
| Net debt | 9.9M | -18.6M | -12M | -10.9M | -4.4M | -14.9M | -8.4M | -5.6M | 891K | 434K | 6M | 6.8M |
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 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|
| Net income | -19.2M | -28.3M | -35.7M | -29.5M | -41.8M | -26.3M |
| Depreciation & amortization | 339K | 374K | 638K | 381K | 389K | 266K |
| Stock-based compensation | 453K | 1.1M | 1.6M | 2.5M | 5.3M | 3.1M |
| Change in working capital | -499K | -1.2M | -1.5M | -1.9M | 504K | -2.3M |
| Operating cash flow | -18.4M | -26.6M | -33.4M | -26.6M | -34.1M | -26.8M |
| Capital expenditure | -50K | -135K | -562K | -170K | -435K | — |
| Investing cash flow | -6K | -97K | -562K | -170K | -435K | — |
| Dividends paid | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — |
| Financing cash flow | 34.5M | 59M | 4.1M | 35.6M | 24.2M | 903K |
| Net change in cash | 16.1M | 32.3M | -29.9M | 8.9M | -10.4M | -25.9M |
| Free cash flow | -19.1M | -26.1M | -31.6M | -27.5M | -33.5M | -26.8M |
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 | 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 | — | — | — | — | — | — | — | -7.9M | -3.5M | -4M | -27.7M | -5.2M |
| Depreciation & amortization | — | — | — | — | — | — | — | 67K | 66K | 65K | 60K | 60K |
| Stock-based compensation | — | — | — | — | — | — | — | 1.1M | 61K | 576K | 226K | -117K |
| Change in working capital | — | — | — | — | — | — | — | 2.3M | -4.1M | -148K | -741K | 1.1M |
| Operating cash flow | — | — | — | — | — | — | — | -8.4M | -6.8M | -3.6M | -7.6M | -2.8M |
| Capital expenditure | 0 | -7K | -168K | -249K | -15K | -3K | 0 | — | — | — | — | — |
| Investing cash flow | 0 | -7K | -168K | -249K | -15K | -3K | 0 | — | — | — | — | — |
| Dividends paid | — | — | — | — | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — | — | — | — | — |
| Financing cash flow | — | — | — | — | — | — | — | 1.2M | -1.9M | 2.3M | 1.7M | 1.8M |
| Net change in cash | 0 | -7K | -168K | -249K | -15K | -3K | 0 | -7.2M | -8.6M | -1.3M | -5.9M | -1M |
| Free cash flow | — | — | — | — | — | — | — | -8.4M | -6.8M | -3.6M | -7.6M | -2.8M |