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 % |
|---|---|---|---|---|---|---|
| Q1 26 | -$0.91 | -$1.37 | -50.5% | — | $0 | — |
| Q4 25 | -$0.9 | -$1.38 | -53.3% | — | $0 | — |
| Q3 25 | -$0.67 | -$0.81 | -20.9% | — | $0 | — |
| Q2 25 | -$0.44 | -$0.58 | -31.8% | — | $0 | — |
| Q1 25 | -$0.31 | -$0.41 | -32.3% | — | $0 | — |
| Q4 24 | -$0.27 | -$0.32 | -18.5% | — | $0 | — |
| Q3 24 | -$0.24 | -$0.22 | +8.3% | — | $0 | — |
| Q2 24 | -$0.27 | -$0.2 | +25.9% | — | $0 | — |
| Q1 24 | -$0.28 | -$0.26 | +7.1% | — | $0 | — |
| Q4 23 | -$0.25 | -$0.25 | 0.0% | — | $0 | — |
| Q3 23 | -$0.22 | -$0.23 | -4.5% | — | $0 | — |
| Q2 23 | -$0.19 | -$0.19 | 0.0% | — | $0 | — |
| Q1 23 | -$0.24 | -$0.25 | -4.2% | — | $0 | — |
| Q4 22 | -$0.23 | -$0.26 | -13.0% | — | $0 | — |
| Q3 22 | -$0.23 | -$0.21 | +8.7% | — | $0 | — |
| Q2 22 | -$0.21 | -$0.23 | -9.5% | — | $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 | — | -$3.19 | — | — | $0 | — |
| FY24 | — | -$1.01 | — | — | $0 | — |
| FY23 | — | -$0.91 | — | — | $0 | — |
| FY22 | — | -$0.9 | — | — | $0 | — |
Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.
| Period | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| YoY change | 0% | 0% | 0% | 0% | 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.
Revenue, gross profit, operating income, and net income per period.
Click a row to chart it; unreported figures show a dash.
| Period | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cost of revenue | — | — | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — | — | — | — |
| Research & development | 9M | 13.7M | 19M | 23.6M | 31.9M | 45M | 54.2M | 63.8M | 101.6M | 345M |
| Selling, general & administrative | 4.8M | 5.3M | 7.1M | 9.1M | 10.7M | 10.7M | 16.1M | 37M | 49.3M | 48.4M |
| Operating expenses | 13.8M | 19.1M | 26.2M | 32.7M | 42.7M | 55.7M | 70.4M | 100.8M | 150.9M | 393.3M |
| Operating income | -13.8M | -19.1M | -26.2M | -32.7M | -42.7M | -55.7M | -70.4M | -100.8M | -150.9M | -393.3M |
| Operating margin | — | — | — | — | — | — | — | — | — | — |
| Non-operating income, net | 1.1M | 345K | 1.4M | 4K | 40K | 7K | -42K | — | 112K | 55K |
| Pretax income | -14.7M | -20.6M | -22.1M | -25.8M | -39.5M | -55M | -68.9M | -85.9M | -110M | -359.6M |
| Income tax | — | — | — | — | — | — | — | — | — | — |
| Net income | -14.7M | -20.6M | -22.1M | -25.8M | -39.5M | -55M | -68.9M | -85.9M | -110M | -359.6M |
| Net margin | — | — | — | — | — | — | — | — | — | — |
| EBITDA | -12.9M | -19.3M | -21.6M | -32.4M | -42.4M | -55.4M | -70M | -100.5M | -150.7M | -393M |
| EPS | -0.9 | -0.79 | -0.38 | -0.36 | -0.54 | -0.71 | -0.9 | -0.91 | -1.01 | -3.19 |
| Diluted EPS | -0.9 | -0.79 | -0.38 | -0.36 | -0.54 | -0.71 | -0.9 | -0.91 | -1.01 | -3.19 |
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 | 18.4M | 20.5M | 24.1M | 23.8M | 22.8M | 31M | 41.4M | 60.2M | 90M | 153.5M | 150.2M | 115.8M |
| Selling, general & administrative | 8.9M | 8.8M | 10M | 10.3M | 13.8M | 15.3M | 14.1M | 14.4M | 8.6M | 11.3M | 14M | 16.8M |
| Operating expenses | 27.3M | 29.3M | 34.1M | 34.1M | 36.6M | 46.2M | 55.5M | 74.6M | 98.6M | 164.7M | 164.1M | 132.6M |
| Operating income | -27.3M | -29.3M | -34.1M | -34.1M | -36.6M | -46.2M | -55.5M | -74.6M | -98.6M | -164.7M | -164.1M | -132.6M |
| Operating margin | — | — | — | — | — | — | — | — | — | — | — | — |
| Non-operating income, net | — | — | — | 2K | 109K | 1K | — | 4K | 10K | 41K | — | 30K |
| Pretax income | -22.5M | -24.6M | -27.4M | -22.3M | -24.9M | -35.4M | -45.6M | -65.6M | -90.8M | -157.7M | -158.3M | -128M |
| Income tax | — | — | — | — | — | — | — | — | — | — | — | — |
| Net income | -22.5M | -24.6M | -27.4M | -22.3M | -24.9M | -35.4M | -45.6M | -65.6M | -90.8M | -157.7M | -158.3M | -128M |
| Net margin | — | — | — | — | — | — | — | — | — | — | — | — |
| EBITDA | -27.2M | -29.2M | -34M | -34M | -36.6M | -46.1M | -55.4M | -74.5M | -98.5M | -164.7M | -164M | -132.5M |
| EPS | -0.23 | — | -0.26 | -0.2 | -0.22 | -0.32 | -0.41 | -0.58 | -0.81 | -1.38 | -1.37 | -1.1 |
| Diluted EPS | -0.23 | — | -0.26 | -0.2 | -0.22 | -0.32 | -0.41 | -0.58 | -0.81 | -1.38 | -1.37 | -1.1 |
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 | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market cap | — | — | — | — | 408.7M | 355.1M | 722.2M | — | — | 4B | 4.1B |
| Enterprise value | — | — | — | — | 160.7M | 153M | 568.3M | — | — | 3.3B | 3.7B |
| Shares outstanding | 16.3M | 26M | 57.6M | 72M | 72.6M | 77.2M | 76.8M | 94.3M | 109M | 112.7M | 112.7M |
| Metric | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E | — | — | — | — | — | — | — | — | — | — | -10.4 |
| P/B | — | — | — | — | 1.67 | 1.76 | 4.97 | — | — | 6.2 | 9.77 |
| EV/EBITDA | — | — | — | — | -3.79 | -2.76 | -8.12 | — | — | -8.29 | -9.29 |
| Earnings yield | — | — | — | — | — | — | — | — | — | — | -9.65% |
| FCF yield | — | — | — | — | -5.33% | -13.4% | -6.7% | — | — | -7.03% | -5.61% |
| PEG | — | — | — | — | — | — | — | — | — | — | -0.12 |
| Metric | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating margin | — | — | — | — | — | — | — | — | — | — | 0% |
| Net margin | — | — | — | — | — | — | — | — | — | — | 0% |
| ROE | -183.2% | -152.8% | -7.41% | -9.3% | -16.2% | -27.2% | -47.4% | -24.7% | -12.5% | -56.3% | -88.9% |
| ROA | -101.3% | -93% | -7.3% | -9.07% | -15.4% | -26.1% | -40.9% | -23.3% | -12.1% | -50.2% | -51.9% |
| Return on tangible assets | -101.3% | -93% | -7.3% | -9.07% | -15.4% | -26.1% | -40.9% | -23.3% | -12.1% | -50.2% | -102.5% |
| Metric | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current ratio | 2.16 | 2.52 | 66.4 | 41.8 | 21.1 | 24 | 7.61 | 19.2 | 33.1 | 9.33 | 4.72 |
| Quick ratio | 2.16 | 2.52 | 66.4 | 41.8 | 21.1 | 24 | 7.61 | 19.2 | 33.1 | 9.33 | 4.72 |
| Debt / equity | 0.41 | 0.26 | 0 | 0 | 0 | 0 | 0.01 | 0 | 0 | 0 | 0.01 |
| Debt / assets | 0.22 | 0.16 | 0 | 0 | 0 | 0 | 0.01 | 0 | 0 | 0 | 0.01 |
| Net debt / EBITDA | 0.76 | 0.89 | 13.9 | 8.48 | 5.85 | 3.65 | 2.2 | 3.59 | 5.98 | 1.8 | 0.89 |
| Interest coverage | -7.14 | -15 | -53.6 | — | — | — | — | — | — | — | — |
| Metric | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue per share | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (basic) | -0.9 | -0.79 | -0.38 | -0.36 | -0.54 | -0.71 | -0.9 | -0.91 | -1.01 | -3.19 | -3.19 |
| EPS (diluted) | -0.9 | -0.79 | -0.38 | -0.36 | -0.54 | -0.71 | -0.9 | -0.91 | -1.01 | -3.19 | -4.67 |
| Book value per share | 0.49 | 0.52 | 5.17 | 3.85 | 3.37 | 2.62 | 1.89 | 3.69 | 8.07 | 5.67 | 3.5 |
| FCF per share | -0.68 | -0.57 | -0.33 | -0.34 | -0.3 | -0.62 | -0.63 | -0.78 | -0.81 | -2.47 | -3.6 |
| Cash per share | 0.81 | 0.79 | 5.24 | 3.83 | 3.42 | 2.62 | 2.02 | 3.84 | 8.28 | 6.26 | 4.3 |
| Metric | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Payout ratio | — | — | — | — | — | — | — | — | — | — | 0% |
| FY21 | — | -$0.71 | — | — | $0 | — |
| FY20 | — | -$0.54 | — | — | $0 | — |
| FY19 | — | -$0.36 | — | — | $0 | — |
| FY18 | — | -$0.38 | — | — | $0 | — |
| FY17 | — | -$0.79 | — | — | $0 | — |
| FY16 | — | -$0.9 | — | — | $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 | $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 | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & short-term investments | 13.2M | 20.6M | 301.5M | 275.6M | 248.4M | 202.1M | 155.5M | 362.1M | 902.6M | 705.7M |
| Receivables | — | — | — | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — | — | — | — |
| Total current assets | 14M | 21.9M | 302.1M | 283.5M | 256.1M | 210.5M | 167M | 367.2M | 907.2M | 715.6M |
| Property, plant & equipment | — | — | 0 | 1.2M | 321K | 0 | 0 | 0 | 0 | 0 |
| Goodwill & intangibles | — | — | — | — | — | — | — | — | — | — |
| Total assets | 14.5M | 22.1M | 302.3M | 284.3M | 256.5M | 210.7M | 168.5M | 368.5M | 908.3M | 715.7M |
| Accounts payable | 1.2M | 1.5M | 959K | 2.4M | 4M | 1.4M | 8.5M | 7.5M | 9.8M | 53.3M |
| Short-term debt | 3.3M | 3.5M | — | 302K | 330K | 29K | 304K | 324K | 489K | 137K |
| Total current liabilities | 6.5M | 8.7M | 4.5M | 6.8M | 12.1M | 8.8M | 21.9M | 19.1M | 27.4M | 76.7M |
| Long-term debt | — | — | 0 | 360K | 29K | 0 | 1.3M | 936K | 630K | 0 |
| Total liabilities | 6.5M | 8.7M | 4.6M | 7.1M | 12.2M | 8.8M | 23.2M | 20.1M | 28M | 76.7M |
| Shareholders' equity | 8M | 13.5M | 297.8M | 277.1M | 244.3M | 201.9M | 145.3M | 348.4M | 880.3M | 639.1M |
| Total debt | 3.3M | 3.5M | 0 | 662K | 359K | 29K | 1.6M | 1.3M | 1.1M | 137K |
| Net debt | 194.1K | -5.5M | -24.8M | -7.7M | -28.8M | -26.3M | -35.1M | -54.3M | -25.6M | -165.7M |
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 | 376.2M | 362.1M | 963M | 942.3M | 930.4M | 902.6M | 851.9M | 807.7M | 714.6M | 705.7M | 603M | 501.7M |
| Receivables | — | — | — | — | — | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current assets | 381.3M | 367.2M | 966.3M | 945.7M | 936.6M | 907.2M | 866M | 827M | 738.7M | 715.6M | 608.2M | 517.6M |
| Property, plant & equipment | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Goodwill & intangibles | — | — | — | — | — | — | — | — | — | — | — | — |
| Total assets | 382.7M | 368.5M | 967.5M | 946.8M | 937.9M | 908.3M | 867M | 827.9M | 739.4M | 715.7M | 608.2M | 521.9M |
| Accounts payable | 5.7M | 7.5M | 5.2M | 11.1M | 254K | 9.8M | 7.7M | 5.5M | 4.4M | 53.3M | 67.2M | 69M |
| Short-term debt | 319K | 324K | 329K | 334K | 480K | 489K | 498K | 468K | 437K | 137K | — | 161K |
| Total current liabilities | 13.4M | 19.1M | 32.8M | 25.1M | 25.7M | 27.4M | 19.6M | 32M | 26.1M | 76.7M | 106.3M | 109.7M |
| Long-term debt | 1M | 936K | 852K | 766K | 755K | 630K | 502K | 410K | 318K | 0 | — | 3.9M |
| Total liabilities | 14.4M | 20.1M | 33.6M | 25.9M | 26.4M | 28M | 20.1M | 32.4M | 26.4M | 76.7M | 106.3M | 113.6M |
| Shareholders' equity | 368.2M | 348.4M | 933.9M | 921M | 911.4M | 880.3M | 846.9M | 795.5M | 713M | 639.1M | 501.9M | 408.3M |
| Total debt | 1.3M | 1.3M | 1.2M | 1.1M | 1.2M | 1.1M | 1M | 878K | 755K | 137K | — | 4.1M |
| Net debt | -35.8M | -54.3M | -194.4M | -42.8M | -49.1M | -25.6M | -36.9M | -33M | -99.6M | -165.7M | — | -121.7M |
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 | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net income | -14.7M | -20.6M | -22.1M | -25.8M | -39.5M | -55M | -68.9M | -85.9M | -110M | -359.6M |
| Depreciation & amortization | — | — | 0 | 260K | 277K | 296K | 291K | 292K | 346K | 431K |
| Stock-based compensation | 1.8M | 1.5M | 2.6M | 3.7M | 5.8M | 6.1M | 8.7M | 16.8M | 29.7M | 40.8M |
| Change in working capital | 717.8K | 264K | -508K | 3.2M | 3.8M | -1.7M | 7.5M | -1M | 3.1M | 48M |
| Operating cash flow | -11.4M | -16.4M | -20.2M | -18.3M | -29.4M | -50.3M | -52.3M | -69.8M | -76.7M | -278.7M |
| Capital expenditure | — | — | — | — | — | — | — | — | — | — |
| Investing cash flow | 3M | -1.7M | -265.7M | 7.5M | 41.6M | 38M | 54.8M | -179.1M | -553.4M | 341.4M |
| Dividends paid | — | — | — | — | — | — | — | — | — | — |
| Share repurchases | -229 | — | — | — | — | 0 | -6.8M | 0 | 0 | — |
| Financing cash flow | 10.3M | 21.8M | 291.9M | -224K | -322K | -753K | 3.3M | 264.6M | 601.7M | 73.9M |
| Net change in cash | 2M | 3.7M | 6M | -11M | 11.8M | -13.1M | 5.8M | 15.8M | -28.4M | 136.7M |
| Free cash flow | -11.1M | -14.8M | -18.8M | -24.8M | -21.8M | -47.6M | -48.4M | -73.4M | -87.8M | -278.7M |
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 | — | — | — | — | — | — | — | — | -90.8M | -157.7M | -158.3M | -128M |
| Depreciation & amortization | — | — | — | — | — | — | — | — | 114K | 94K | 85K | 157K |
| Stock-based compensation | — | — | — | — | — | — | — | — | 7.3M | 8.6M | 10.3M | 11.1M |
| Change in working capital | 246K | -101K | 655K | -157K | 1.3M | -646K | 2.5M | -11K | 993K | 49.1M | 14.7M | 1.8M |
| Operating cash flow | 246K | -101K | 655K | -157K | 1.3M | -646K | 2.5M | -11K | -94M | -85.3M | -114M | -125.2M |
| Capital expenditure | — | — | — | — | — | — | — | — | — | — | — | — |
| Investing cash flow | — | — | — | — | — | — | — | — | 160M | 75.6M | 54.2M | 109.4M |
| Dividends paid | — | — | — | — | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — | — | — | — | — |
| Financing cash flow | — | — | — | — | — | — | — | — | 0 | 0 | 11.6M | — |
| Net change in cash | 246K | -101K | 655K | -157K | 1.3M | -646K | 2.5M | -11K | 66M | -9.7M | -48.2M | -15.7M |
| Free cash flow | — | — | — | — | — | — | — | — | -94M | -85.3M | -114M | -125.2M |