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 | -$1.08 | -$1.05 | +2.8% | — | $0 | — |
| Q1 26 | $0.21 | $1.65 | +685.7% | — | $36.8M | — |
| Q4 25 | -$1.09 | -$0.58 | +46.8% | — | $0 | — |
| Q3 25 | -$0.98 | -$1.08 | -10.2% | — | $0 | — |
| Q2 25 | -$0.85 | -$0.92 | -8.2% | — | $0 | — |
| Q1 25 | -$0.81 | -$0.77 | +4.9% | — | $0 | — |
| Q4 24 | -$0.87 | -$0.55 | +36.8% | — | $17K | — |
| Q3 24 | -$3.6 | -$0.88 | +75.6% | — | $0 | — |
| Q4 23 | — | -$1.67 | — | — | $0 | — |
| Q3 23 | — | -$3.2 | — | — | $0 | — |
| Q2 23 | — | -$0.07 | — | — | $0 | — |
| Q1 23 | -$0.09 | -$0.06 | +33.3% | — | $0 | — |
| Q4 22 | -$0.06 | -$0.06 | 0.0% | — | $9K | — |
| Q3 22 | -$0.04 | -$0.05 | -25.0% | — | $0 | — |
| Q2 22 | -$0.09 | -$0.04 | +55.6% | — | $9K | — |
| Q1 22 | -$3.2 | -$4 | -25.0% | — | $2M | — |
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 | — | -$3.2 | — | — | $0 | — |
| FY24 | — | -$3.2 | — | — | $1M | — |
| FY23 | — | -$9.71 | — | — | $0 | — |
| FY22 | — | -$10.4 | — | — | $2M | — |
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 | $634K | $291K | $12.4M | $2.8M | $6.4M | $4M | $2M | $0 | $1M | $0 |
| YoY change | +22.2% | -54.1% | +4.2K% | -77.8% | +132.1% | -37.6% | -49.6% | -100% | +InfinityT% | -100% |
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 | 634K | 291K | 12.4M | 2.8M | 6.4M | 4M | 2M | 0 | 1M | 0 |
| Cost of revenue | — | — | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — | — | — | — |
| Research & development | 45.7M | 39.6M | 23M | 15.1M | 11M | 13.3M | 12.4M | 13.6M | 11.5M | 17.9M |
| Selling, general & administrative | 9.9M | 11.3M | 9.2M | 8.5M | 7.3M | 12.3M | 12.2M | 11.9M | 13.7M | 14.9M |
| Operating expenses | 55.7M | 51M | 32.3M | 23.7M | 18.3M | 25.7M | 24.6M | 25.5M | 25.2M | 32.8M |
| Operating income | -55M | -50.7M | -19.8M | -20.9M | -11.9M | -21.7M | -22.5M | -25.5M | -24.2M | -32.8M |
| Operating margin | -8.7K% | -17.4K% | -159.4% | -755.9% | -184.8% | -540.9% | -1.1K% | — | -2.4K% | — |
| Non-operating income, net | -22K | -190K | -592K | 828K | -270K | 4.1M | -2.7M | -923K | 10K | -136K |
| Pretax income | -55.4M | -53.8M | -23.6M | -21.8M | -12.8M | -17.6M | -24.9M | -26M | -22.6M | -31.1M |
| Income tax | 0 | 800K | 200K | 100K | 0 | 115K | 200K | 0 | 100K | 0 |
| Net income | -55.4M | -54.6M | -23.8M | -21.9M | -12.8M | -17.7M | -25.1M | -26M | -22.7M | -31.1M |
| Net margin | -8.7K% | -18.8K% | -191.8% | -793.7% | -199.6% | -442.7% | -1.2K% | — | -2.2K% | — |
| EBITDA | -54.7M | -50.6M | -20.1M | -20M | -12M | -17.5M | -24.8M | -25.9M | -22.5M | -31.1M |
| EPS | -68.4 | -66.8 | -27.6 | -23.6 | -7.2 | -8.4 | -10.4 | -9.71 | -3.2 | -3.2 |
| Diluted EPS | -68.4 | -66.8 | -27.6 | -23.6 | -7.2 | -8.4 | -10.4 | -9.71 | -3.2 | -3.2 |
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 | 1M | 0 | 0 | 17K | 0 | 0 | 0 | 0 | 36.8M | 0 |
| Cost of revenue | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — | — | — | — | — | — |
| Research & development | 2.8M | 2.1M | 2.6M | 3.4M | 3.2M | 2.2M | 2.8M | 4.1M | 7M | 3.9M | 9M | 8.8M |
| Selling, general & administrative | 2.5M | 2.6M | 4M | 3.7M | 3.3M | 2.7M | 3.7M | 3.6M | 3.7M | 4M | 4.6M | 5.2M |
| Operating expenses | 5.4M | 4.7M | 6.6M | 7.2M | 6.5M | 4.9M | 6.5M | 7.7M | 10.7M | 7.9M | 13.6M | 13.9M |
| Operating income | -5.4M | -4.7M | -5.6M | -7.2M | -6.5M | -4.9M | -6.5M | -7.7M | -10.7M | -7.9M | 23.3M | -13.9M |
| Operating margin | — | — | -562.7% | — | — | -28.8K% | — | — | — | — | 63.1% | — |
| Non-operating income, net | -3.3M | 185K | -371K | 193K | 162K | 26K | -45K | 66K | -40K | -117K | 33K | 64K |
| Pretax income | -8.5M | -4.4M | -5.9M | -6.4M | -5.8M | -4.4M | -6.2M | -7.4M | -10.3M | -7.1M | 24.1M | -13.1M |
| Income tax | 0 | 0 | 100K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net income | -8.5M | -4.4M | -6M | -6.4M | -5.8M | -4.4M | -6.2M | -7.4M | -10.3M | -7.1M | 24.1M | -13.1M |
| Net margin | — | — | -601.9% | — | — | -26.1K% | — | — | — | — | 65.5% | — |
| EBITDA | -8.5M | -4.4M | -5.6M | -6.4M | -5.8M | -4.4M | -6.5M | -7.7M | -10.3M | -7.1M | 23.3M | -13.9M |
| EPS | -3.19 | — | -1.17 | -0.81 | -0.88 | -0.55 | -0.77 | -0.92 | -1.08 | -0.58 | 1.94 | -1.05 |
| Diluted EPS | -3.19 | — | -1.17 | -0.81 | -0.88 | -0.55 | -0.77 | -0.92 | -1.08 | -0.58 | 1.65 | -1.05 |
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 | — | — | — | — | — | — | — | — | — | — | 120.7M |
| Enterprise value | — | — | — | — | — | — | — | — | — | — | 288.7M |
| Shares outstanding | 238.6K | 242.3K | 311.2K | 757.3K | 1.2M | 1.5M | 1.9M | 2.1M | 5.8M | 8.4M | 8.4M |
| Metric | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E | — | — | — | — | — | — | — | — | — | — | -9.55 |
| P/S | — | — | — | — | — | — | — | — | — | — | 3.28 |
| P/B | — | — | — | — | — | — | — | — | — | — | 4.82 |
| EV/EBITDA | — | — | — | — | — | — | — | — | — | — | -31.2 |
| EV/Sales | — | — | — | — | — | — | — | — | — | — | 7.84 |
| Earnings yield | — | — | — | — | — | — | — | — | — | — | -10.5% |
| FCF yield | — | — | — | — | — | — | — | — | — | — | 0.56% |
| PEG | — | — | — | — | — | — | — | — | — | — | -0.68 |
| Metric | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating margin | -8.7K% | -17.4K% | -159.4% | -755.9% | -184.8% | -540.9% | -1.1K% | — | -2.4K% | — | -25.1% |
| Net margin | -8.7K% | -18.8K% | -191.8% | -793.7% | -199.6% | -442.7% | -1.2K% | — | -2.2K% | — | -12.9% |
| ROE | -175.3% | 278.7% | 117.1% | 248.2% | -337.5% | -116.5% | -429.4% | 140% | -158.8% | -48.2% | -15.8% |
| ROA | -101.6% | -195.7% | -278.6% | -236.8% | -86.6% | -69.6% | -75.4% | -235.7% | -59.3% | -34.6% | -10.1% |
| ROIC | 619.8% | 430.3% | 312.6% | 596.2% | 1.1K% | -790.9% | 404.6% | 92.8% | 108.5% | 133.9% | 115.5% |
| Return on tangible assets | -101.6% | -195.7% | -278.6% | -236.8% | -86.6% | -69.6% | -75.4% | -235.7% | -59.3% | -34.6% | -7.31% |
| Metric | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current ratio | 4.56 | 0.76 | 0.18 | 0.21 | 1.13 | 1.84 | 3.52 | 1 | 7.34 | 13.5 | 12.5 |
| Quick ratio | 4.56 | 0.76 | 0.18 | 0.21 | 1.13 | 1.84 | 3.52 | 1 | 7.34 | 13.5 | 12.5 |
| Debt / equity | 0.35 | -1 | -0.77 | -0.8 | 0.24 | 0.06 | 0.12 | -0.03 | 0.01 | — | 0 |
| Debt / assets | 0.2 | 0.7 | 1.84 | 0.77 | 0.06 | 0.04 | 0.02 | 0.05 | 0 | — | — |
| Net debt / EBITDA | 0.74 | -0.15 | -0.7 | -0.27 | 0.4 | 0.71 | 0.46 | 0.34 | 1.62 | — | 9.37 |
| Interest coverage | -138.1 | -16.4 | -6.19 | -11 | -17.5 | -1.5K | -1.7K | -2K | — | -5.2K | -5.2K |
| Effective tax rate | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Metric | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue per share | 2.66 | 1.2 | 40 | 3.65 | 5.44 | 2.64 | 1.08 | 0 | 0.18 | 0 | 3.25 |
| EPS (basic) | -68.4 | -66.8 | -27.6 | -23.6 | -7.2 | -8.4 | -10.4 | -9.71 | -3.2 | -3.2 | -3.2 |
| EPS (diluted) | -68.4 | -66.8 | -27.6 | -23.6 | -7.2 | -8.4 | -10.4 | -9.71 | -3.2 | -3.2 | -0.75 |
| Book value per share | 132.3 | -80.9 | -65.5 | -11.7 | 3.22 | 10 | 3.12 | -8.9 | 2.48 | 7.65 | 6.34 |
| FCF per share | -202.4 | -184.1 | -86.3 | -30.5 | -15.3 | -12.7 | -8.57 | -9.15 | -4.39 | -3 | -1.35 |
| Cash per share | 215.8 | 48.5 | 5.41 | 2.35 | 4.88 | 8.84 | 6.48 | 4.53 | 6.37 | 10.6 | 6.97 |
| Capex per share | 0.36 | 0.24 | 0.02 | 0.09 | 0 | 0 | 0.01 | 0 | 0 | — | — |
| Metric | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Capex / revenue | 13.7% | 19.6% | 0.04% | 2.53% | 0% | 0% | 1.04% | — | 0% | — | — |
| Capex / operating cash flow | -0.17% | -0.12% | -0.02% | -0.31% | 0% | 0% | -0.12% | 0% | 0% | — | — |
| Payout ratio | — | — | — | — | — | — | — | — | — | — | 0% |
| FY21 | — | -$8.4 | — | — | $4M | — |
| FY20 | — | -$7.2 | — | — | $6.4M | — |
| FY19 | — | -$23.6 | — | — | $2.8M | — |
| FY18 | — | -$27.6 | — | — | $12.4M | — |
| FY17 | — | -$66.8 | — | — | $291K | — |
| FY16 | — | -$68.4 | — | — | $634K | — |
| 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 | $1M | $0 | $0 | $17K | $0 | $0 | $0 | $0 | $36.8M | $0 |
| YoY change | 0% | -100% | +InfinityT% | 0% | 0% | +InfinityT% | -100% | 0% | 0% | -100% | +InfinityT% | 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 | 51.5M | 11.8M | 1.7M | 1.8M | 5.7M | 13.4M | 12.1M | 9.4M | 36.7M | 88.9M |
| Receivables | 0 | 8M | 0 | 5K | 158K | 57K | 173K | 102K | 62K | — |
| Inventory | — | — | — | — | — | — | — | — | — | — |
| Total current assets | 52.1M | 20.4M | 3.5M | 2.8M | 7.2M | 15.6M | 27.1M | 10.7M | 38.1M | 89.9M |
| Property, plant & equipment | 444K | 283K | 70K | 1M | 849K | 680K | 556K | 117K | 153K | — |
| Goodwill & intangibles | — | — | — | — | — | — | — | — | — | — |
| Total assets | 54.5M | 27.9M | 8.6M | 9.3M | 14.8M | 25.5M | 33.2M | 11M | 38.3M | 89.9M |
| Accounts payable | 3.1M | 2.3M | 2.9M | 2.2M | 1.9M | 1.9M | 2.5M | 4.1M | 939K | 1.1M |
| Short-term debt | — | 4.3M | 9.4M | 6.3M | 239K | 440K | 378K | 360K | 169K | — |
| Total current liabilities | 11.4M | 26.9M | 18.8M | 13.4M | 6.4M | 8.5M | 7.7M | 10.6M | 5.2M | 6.6M |
| Long-term debt | 11.1M | 15.3M | 6.3M | 831K | 676K | 492K | 338K | 169K | 0 | — |
| Total liabilities | 22.9M | 47.5M | 28.9M | 18.1M | 11M | 10.3M | 27.4M | 29.6M | 24M | 25.5M |
| Shareholders' equity | 31.6M | -19.6M | -20.4M | -8.8M | 3.8M | 15.2M | 5.8M | -18.5M | 14.3M | 64.4M |
| Total debt | 11.1M | 19.6M | 15.7M | 7.1M | 915K | 932K | 716K | 529K | 169K | — |
| Net debt | -40.4M | 7.8M | 14M | 5.3M | -4.8M | -12.5M | -11.4M | -8.9M | -36.6M | — |
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 | — | — | — | — | — | — | — | — | 98.5M | 88.9M | 98.1M | 86.6M |
| Receivables | — | — | — | — | — | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current assets | — | — | — | — | — | — | — | — | 99.5M | 89.9M | 98.8M | 87.6M |
| Property, plant & equipment | — | — | — | — | — | — | — | — | 38K | — | — | — |
| Goodwill & intangibles | — | — | — | — | — | — | — | — | — | — | — | — |
| Total assets | — | — | — | — | — | — | — | — | 99.5M | 89.9M | 98.8M | 87.6M |
| Accounts payable | — | — | — | — | — | — | — | — | 9.8M | 1.1M | 6.8M | 7M |
| Short-term debt | 638K | 360K | 173K | 177K | 181K | 169K | 125K | 79K | 360K | — | — | — |
| Total current liabilities | — | — | — | — | — | — | — | — | 10.2M | 6.6M | 6.9M | 7M |
| Long-term debt | — | — | — | — | — | — | — | — | — | — | — | — |
| Total liabilities | — | — | — | — | — | — | — | — | 29M | 25.5M | 8.9M | 9M |
| Shareholders' equity | — | — | — | — | — | — | — | — | 70.5M | 64.4M | 90M | 78.6M |
| Total debt | 638K | 360K | 173K | 177K | 181K | 169K | 125K | 79K | 360K | — | — | — |
| Net debt | — | — | — | — | — | — | — | — | -98.1M | — | — | — |
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 | -55.4M | -54.6M | -23.8M | -21.9M | -12.8M | -17.7M | -25.1M | -26M | -22.7M | -31.1M |
| Depreciation & amortization | 265K | 197K | 218K | 39K | 94K | 89K | 92K | 90K | 89K | 16K |
| Stock-based compensation | 2.6M | 3.6M | 2.7M | 1.5M | 1M | 2.4M | 1.3M | 1.6M | 2.8M | 3.8M |
| Change in working capital | -322K | 2.4M | -6.4M | -2.8M | -940K | 874K | 5.8M | 22K | -27K | -87K |
| Operating cash flow | -52.6M | -47.4M | -26.3M | -22.6M | -12.3M | -14.4M | -18.3M | -24.1M | -19.9M | -25.3M |
| Capital expenditure | -87K | -57K | -5K | -70K | 0 | 0 | -21K | 0 | 0 | — |
| Investing cash flow | -83K | -25K | 7K | 242K | 0 | 0 | -21K | 4.4M | 0 | 0 |
| Dividends paid | — | — | — | — | — | — | — | — | — | — |
| Share repurchases | 0 | — | — | — | — | — | — | — | — | — |
| Financing cash flow | 11.8M | 7.5M | 11.2M | 12.3M | 14M | 26.2M | 13.9M | 11.4M | 52.4M | 77M |
| Net change in cash | -40.9M | -39.9M | -15.1M | -10.1M | 1.8M | 11.8M | -4.3M | -8.3M | 32.5M | 51.8M |
| Free cash flow | -48.3M | -44.6M | -26.9M | -23.1M | -18M | -19.3M | -16M | -19.1M | -25.3M | -25.3M |
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 | 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 | — | — | — | — | — | — | -6.2M | -7.4M | -10.3M | -7.1M | 24.1M | -13.1M |
| Depreciation & amortization | — | — | — | — | — | — | 9K | 3K | 2K | 2K | 1K | 1K |
| Stock-based compensation | — | — | — | — | — | — | 813K | 930K | 1M | 1M | 1.4M | 1.7M |
| Change in working capital | — | — | — | — | — | — | 49K | 10K | -32K | -114K | -16.8M | -329K |
| Operating cash flow | — | — | — | — | — | — | -5.3M | -5.1M | -5.2M | -9.3M | 9.2M | -11.4M |
| Capital expenditure | — | — | — | — | — | — | — | — | — | — | — | — |
| Investing cash flow | — | — | — | — | — | — | — | — | — | — | — | — |
| Dividends paid | — | — | — | — | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — | — | — | — | — |
| Financing cash flow | -11.5M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 77.3M | -656K | — | — |
| Net change in cash | -11.5M | 0 | 0 | 0 | 0 | 0 | -5.3M | -5.1M | 72.1M | -9.9M | 9.2M | -11.4M |
| Free cash flow | — | — | — | — | — | — | -5.7M | -5.1M | -5.2M | -9.3M | 9.2M | -11.4M |