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 | -$1.59 | -$1.52 | +4.4% | — | $0 | — |
| Q1 26 | -$1.37 | -$1.69 | -23.4% | — | $0 | — |
| Q4 25 | -$1.27 | -$1.39 | -9.4% | — | $0 | — |
| Q2 25 | -$0.62 | -$1.2 | -93.5% | — | $0 | — |
| Q1 25 | -$0.78 | -$0.81 | -3.8% | — | $0 | — |
| Q4 24 | -$0.73 | -$0.72 | +1.4% | — | $0 | — |
| Q3 24 | -$0.62 | -$0.85 | -37.1% | — | $0 | — |
| Q2 24 | -$0.54 | -$0.62 | -14.8% | — | $0 | — |
| Q1 24 | -$0.56 | -$0.56 | 0.0% | — | $0 | — |
| Q4 23 | -$0.51 | -$0.58 | -13.7% | — | $0 | — |
| Q3 23 | -$0.54 | -$0.45 | +16.7% | — | $0 | — |
| Q2 23 | -$0.74 | -$0.46 | +37.8% | — | $0 | — |
| Q1 23 | -$0.6 | -$0.8 | -33.3% | — | $0 | — |
| Q4 22 | -$0.9 | -$1.18 | -31.1% | — | $0 | — |
| Q3 22 | -$0.9 | -$0.91 | -1.1% | — | $0 | — |
| Q2 22 | -$0.72 | -$0.55 | +23.6% | — | $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 | — | -$4.66 | — | — | $0 | — |
| FY24 | — | -$2.75 | — | — | $0 | — |
| FY23 | — | -$2.25 | — | — | $0 | — |
| FY22 | — | -$3.35 | — | — | $0 | — |
| FY21 | — | -$2.43 |
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 | $0 | $0 | $0 | $0 | $0 | $0 |
| YoY change | — | 0% | 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 |
|---|
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 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cost of revenue | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — |
| Research & development | 7.3M | 45.2M | 22.5M | 69M | 78.2M | 126.2M | 215.3M |
| Selling, general & administrative | 4.4M | 4M | 11.9M | 21.9M | 23.8M | 41M | 100.2M |
| Operating expenses | 11.7M | 49.2M | 34.4M | 90.9M | 102M | 167.2M | 315.5M |
| Operating income | -11.7M | -49.2M | -34.4M | -90.9M | -102M | -167.2M | -315.5M |
| Operating margin | — | — | — | — | — | — | — |
| Non-operating income, net | -261K | -4.1M | 1.8M | 1.1M | 1.8M | 1.9M | -1.1M |
| Pretax income | -11.9M | -53.4M | -32.6M | -89.1M | -96M | -152.1M | -299.6M |
| Income tax | 1K | 1K | 1K | 1K | 1K | 1K | 1K |
| Net income | -11.9M | -53.4M | -32.6M | -89.1M | -96M | -152.1M | -299.6M |
| Net margin | — | — | — | — | — | — | — |
| EBITDA | -11M | -50M | -34.2M | -87.3M | -92.2M | -144.4M | -291.6M |
| EPS | -2.91 | -13.1 | -2.43 | -3.35 | -2.25 | -2.75 | -4.66 |
| Diluted EPS | -2.91 | -13.1 | -2.43 | -3.35 | -2.25 | -2.75 | -4.66 |
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 | 16.1M | 20.8M | 23.2M | 29.3M | 40.3M | 33.3M | 41.3M | 58.2M | 56.5M | 59.3M | 86M | 60.1M |
| Selling, general & administrative | 5.7M | 6.2M | 7.9M | 8M | 9.5M | 15.6M | 15.9M | 21.9M | 27.5M | 34.9M | 39.1M | 52.4M |
| Operating expenses | 21.8M | 27M | 31.1M | 37.3M | 49.8M | 48.9M | 57.2M | 80.1M | 83.9M | 94.2M | 125.1M | 112.5M |
| Operating income | -21.8M | -27M | -31.1M | -37.3M | -49.8M | -48.9M | -57.2M | -80.1M | -83.9M | -94.2M | -125.1M | -112.5M |
| Operating margin | — | — | — | — | — | — | — | — | — | — | — | — |
| Non-operating income, net | 437K | 470K | 449K | 443K | 344K | 698K | 386K | -836K | -137K | -503K | -432K | -483K |
| Pretax income | -20.1M | -25.7M | -28.4M | -33.7M | -46.6M | -43.4M | -51.7M | -76.5M | -80.3M | -91.1M | -121M | -109.5M |
| Income tax | — | — | — | — | — | — | — | — | — | — | — | — |
| Net income | -20.1M | -25.7M | -28.4M | -33.7M | -46.6M | -43.4M | -51.7M | -76.5M | -80.3M | -91.1M | -121M | -109.5M |
| Net margin | — | — | — | — | — | — | — | — | — | — | — | — |
| EBITDA | -19.2M | -24.6M | -26.5M | -31.8M | -44.7M | -41.5M | -49.8M | -74.5M | -78.2M | -89.1M | -119.1M | -107.5M |
| EPS | -0.45 | — | -0.56 | -0.62 | -0.85 | — | -0.81 | -1.2 | -1.26 | — | -1.69 | -1.52 |
| Diluted EPS | -0.45 | — | -0.56 | -0.62 | -0.85 | — | -0.81 | -1.2 | -1.26 | — | -1.69 | -1.52 |
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 | — | — | — | — | — | — | — | 2.3B |
| Enterprise value | — | — | — | — | — | — | — | 1.9B |
| Shares outstanding | 4.1M | 4.1M | 13.4M | 26.6M | 42.7M | 55.3M | 64.2M | 64.2M |
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| P/E | — | — | — | — | — | — | — | -6.97 |
| P/B | — | — | — | — | — | — | — | 5.73 |
| EV/EBITDA | — | — | — | — | — | — | — | -4.62 |
| Earnings yield | — | — | — | — | — | — | — | -14.3% |
| FCF yield | — | — | — | — | — | — | — | -9.09% |
| PEG | — | — | — | — | — | — | — | -0.26 |
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| Operating margin | — | — | — | — | — | — | — | 0% |
| Net margin | — | — | — | — | — | — | — | 0% |
| ROE | 32.4% | 59.8% | -46.9% | -115.8% | -94.4% | -26.4% | -49.6% | -91.8% |
| ROA | -220.3% | -97.9% | -38.9% | -67.8% | -54.7% | -23.2% | -40.8% | -46.8% |
| ROIC | 29.5% | 34.4% | 666.8% | 1.4K% | 1.9K% | 1.8K% | 962.9% | 962.9% |
| Return on tangible assets | -220.3% | -97.9% | -38.9% | -67.8% | -54.7% | -23.2% | -40.8% | -75.4% |
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| Current ratio | 3.36 | 22.6 | 10.7 | 4.91 | 7.71 | 25.7 | 13.6 | 10.9 |
| Quick ratio | 3.36 | 22.6 | 10.7 | 4.91 | 7.71 | 25.7 | 13.6 | 10.9 |
| Debt / equity | -0 | -0 | 0.07 | 0.41 | 0.53 | 0.09 | 0.13 | 0.19 |
| Debt / assets | 0.02 | 0 | 0.06 | 0.24 | 0.31 | 0.08 | 0.11 | 0.14 |
| Net debt / EBITDA | 0.28 | 1.07 | 2.18 | 0.96 | 1.16 | 4.06 | 2.19 | 1.07 |
| Interest coverage | -231.4 | -320.8 | -1.6K | -88.8 | -24.4 | -19 | -38.8 | -52.3 |
| Effective tax rate | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| Revenue per share | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (basic) | -2.91 | -13.1 | -2.43 | -3.35 | -2.25 | -2.75 | -4.66 | -4.66 |
| EPS (diluted) | -2.91 | -13.1 | -2.43 | -3.35 | -2.25 | -2.75 | -4.66 | -5.87 |
| Book value per share | -8.97 | -21.9 | 5.18 | 2.89 | 2.38 | 10.4 | 9.41 | 5.67 |
| FCF per share | -2.55 | -8.56 | -1.76 | -2.55 | -2.16 | -2.45 | -3.76 | -4.72 |
| Cash per share | 0.78 | 13.2 | 5.93 | 4.32 | 3.76 | 11.6 | 11.1 | 6.93 |
| Capex per share | 0.03 | 0.01 | 0 | 0 | 0 | 0.02 | — | — |
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| Capex / operating cash flow | -1.16% | -0.12% | 0% | -0.09% | -0.07% | -0.73% | — | — |
| Payout ratio | — | — | — | — | — | — | — | 0% |
| — |
| — |
| $0 |
| — |
| FY20 | — | -$13.1 | — | — | $0 | — |
| FY19 | — | -$2.91 | — | — | $0 | — |
| 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 |
| 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 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|
| Cash & short-term investments | 3.2M | 53.7M | 79.7M | 114.7M | 160.7M | 640.9M | 714.6M |
| Receivables | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — |
| Total current assets | 3.6M | 54.3M | 82.5M | 125.7M | 172M | 651.2M | 728.9M |
| Property, plant & equipment | 1.4M | 0 | 0 | 51K | 92K | 960K | 1.4M |
| Goodwill & intangibles | — | — | — | — | — | — | — |
| Total assets | 5.4M | 54.6M | 83.7M | 131.4M | 175.5M | 655.7M | 734.7M |
| Accounts payable | 342K | 909K | 1.4M | 12M | 11.1M | 7.7M | 21.9M |
| Short-term debt | 122K | 2K | — | 2.6M | 2.4M | 1.5M | 549K |
| Total current liabilities | 1.1M | 2.4M | 7.7M | 25.6M | 22.3M | 25.4M | 53.5M |
| Long-term debt | 10K | 0 | 4.9M | 28.6M | 51.3M | 53.2M | 76.8M |
| Total liabilities | 41.9M | 143.9M | 14.2M | 54.5M | 73.9M | 78.5M | 130.2M |
| Shareholders' equity | -36.5M | -89.3M | 69.6M | 76.9M | 101.7M | 577.2M | 604.5M |
| Total debt | 132K | 2K | 4.9M | 31.3M | 53.7M | 54.6M | 77.3M |
| Net debt | -3.1M | -53.7M | -74.8M | -12.2M | 8M | -38M | -277.4M |
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 | 159.9M | 160.7M | 403.7M | 384.4M | 353.3M | 640.9M | 589.8M | 556.8M | 497.4M | 714.6M | 596.8M | 499.2M |
| Receivables | — | — | — | — | — | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current assets | 171.6M | 172M | 416.4M | 394.7M | 364.1M | 651.2M | 606.1M | 571.4M | 511.3M | 728.9M | 615.8M | 527.5M |
| Property, plant & equipment | 34K | 92K | 81K | 155K | 368K | 960K | 1.1M | 1.2M | 1.2M | 1.4M | — | — |
| Goodwill & intangibles | — | — | — | — | — | — | — | — | — | — | — | — |
| Total assets | 175.6M | 175.5M | 419.4M | 397.3M | 368.6M | 655.7M | 610.2M | 578.5M | 517.5M | 734.7M | 621.7M | 533M |
| Accounts payable | 12.3M | 11.1M | 5.2M | 4.7M | 4.6M | 7.7M | 9.3M | 13.2M | 17.9M | 21.9M | 13.9M | 14.6M |
| Short-term debt | 2.5M | 2.4M | 2.3M | 2.1M | 1.9M | 1.5M | 1.2M | 855K | 473K | 549K | — | — |
| Total current liabilities | 24.6M | 22.3M | 14.5M | 18.4M | 26.5M | 25.4M | 21.9M | 33.6M | 41.9M | 53.5M | 45.1M | 48.3M |
| Long-term debt | 27M | 51.3M | 51M | 50.7M | 53M | 53.2M | 53.3M | 76.7M | 76.7M | 76.8M | 76.9M | 76.9M |
| Total liabilities | 51.9M | 73.9M | 65.8M | 69.4M | 79.5M | 78.5M | 75.2M | 110.3M | 118.6M | 130.2M | 122M | 125.2M |
| Shareholders' equity | 123.7M | 101.7M | 353.5M | 327.9M | 289.1M | 577.2M | 535M | 468.3M | 398.9M | 604.5M | 499.7M | 407.8M |
| Total debt | 29.5M | 53.7M | 53.3M | 52.8M | 54.9M | 54.6M | 54.5M | 77.6M | 77.2M | 77.3M | 76.9M | 76.9M |
| Net debt | 2.1M | 8M | -15.8M | 27.7M | 27.7M | -38M | -625K | 28.4M | 19.4M | -277.4M | -37.5M | 28M |
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 | -11.9M | -53.4M | -32.6M | -89.1M | -96M | -152.1M | -299.6M |
| Depreciation & amortization | 509K | 251K | 176K | -846K | -4.1M | 105K | 468K |
| Stock-based compensation | 263K | 331K | 3M | 8.9M | 11.5M | 20.8M | 37.9M |
| Change in working capital | 136K | 148K | 424K | 7.9M | -3.8M | -5.5M | 12.5M |
| Operating cash flow | -10.8M | -36M | -25M | -67.3M | -90.2M | -133.9M | -241.1M |
| Capital expenditure | -125K | -42K | 0 | -62K | -63K | -972K | — |
| Investing cash flow | -125K | -42K | -5M | -70.6M | -39.4M | -425M | 194.9M |
| Dividends paid | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | -13K | 0 |
| Financing cash flow | -188K | 85.1M | 53.3M | 99.8M | 132.5M | 593.3M | 301.9M |
| Net change in cash | -11.1M | 49M | 23.3M | -38M | 2.9M | 34.4M | 255.7M |
| Free cash flow | -10.4M | -34.9M | -23.7M | -67.7M | -92.2M | -135.7M | -241.7M |
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 | -20.1M | -25.7M | -28.4M | -33.7M | -46.6M | -43.4M | -51.7M | -76.5M | -80.3M | -91.1M | -121M | -109.5M |
| Depreciation & amortization | 6K | -1.2M | -1.5M | 15K | 24K | 55K | 85K | 119K | 129K | 135K | 140K | 132K |
| Stock-based compensation | 2.9M | 3.2M | 4.1M | 4.9M | 5.6M | 6.2M | 7.7M | 9.5M | 9.7M | 11M | 13.2M | 15.9M |
| Change in working capital | -1.6M | -1.8M | -6.5M | -1.2M | -360K | 2.5M | 1.2M | 3.6M | 4.2M | 3.5M | -8.1M | 477K |
| Operating cash flow | -18.2M | -24.9M | -31.7M | -29.3M | -40.7M | -33.8M | -41.2M | -54.8M | -61.9M | -70M | -106.5M | -100.3M |
| Capital expenditure | 0 | -63K | — | -89K | -238K | -645K | -187K | — | — | — | — | — |
| Investing cash flow | 16.2M | 18.6M | -219.3M | -22.7M | 38.3M | -221.4M | 15.3M | 28.8M | 69.9M | 80.8M | -137.6M | 33M |
| Dividends paid | — | — | — | — | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | 0 | — | — | — | 0 | — | — |
| Financing cash flow | 0 | 0 | 269.6M | 0 | 0 | 323.6M | 0 | 0 | 0 | 282.1M | — | — |
| Net change in cash | -1.9M | -6.3M | 18.6M | -52M | -2.4M | 68.4M | -25.9M | -26M | 8M | 292.9M | -244.1M | -67.3M |
| Free cash flow | -23M | -25.2M | -33.8M | -24.9M | -37.1M | -39.8M | -54.6M | -55M | -62M | -70.1M | -106.7M | -100.4M |