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 | -$0.48 | -$0.59 | -22.9% | — | $0 | — |
| Q4 25 | -$0.61 | -$0.49 | +19.7% | — | $0 | — |
| Q3 25 | -$0.48 | -$0.37 | +22.9% | — | $0 | — |
| Q2 25 | -$0.52 | -$0.37 | +28.8% | — | $0 | — |
| Q1 25 | -$0.61 | -$0.67 | -9.8% | — | $0 | — |
| Q4 24 | -$0.68 | -$0.61 | +10.3% | — | $26.9M | — |
| Q3 24 | -$0.87 | -$0.56 | +35.6% | — | $0 | — |
| Q2 24 | -$0.83 | -$1.24 | -49.4% | — | $0 | — |
| Q1 24 | -$0.74 | $0.14 | +118.9% | — | $40.6M | — |
| Q4 23 | -$0.84 | -$0.83 | +1.2% | — | $0 | — |
| Q3 23 | -$0.94 | -$0.79 | +16.0% | — | $0 | — |
| Q2 23 | -$1.02 | -$1.85 | -81.4% | — | $0 | — |
| Q1 23 | -$1.03 | -$1.07 | -3.9% | — | $0 | — |
| Q4 22 | -$0.97 | -$0.92 | +5.2% | — | $0 | — |
| Q3 22 | -$1.19 | -$0.96 | +19.3% | — | $0 | — |
| Q2 22 | -$1.19 | -$1.34 | -12.6% | — | $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 | — | -$1.91 | — | — | $0 | — |
| FY24 | — | -$2.33 | — | — | $67.4M | — |
| FY23 | — | -$4.47 | — | — | $0 | — |
| FY22 | — | -$4.48 | — | — | $0 | — |
| FY21 | — |
Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.
| Period | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $14K | $0 | $0 | $0 | $0 | $0 | $67.4M | $0 |
| YoY change | — | -100% | 0% | 0% | 0% | 0% | +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 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 14K | 0 | 0 | 0 | 0 | 0 | 67.4M | 0 |
| Cost of revenue | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — | — |
| Research & development | 18.9M | 38.4M | 84.9M | 175.6M | 172.7M | 189.6M | 167.8M | 107.3M |
| Selling, general & administrative | 4.9M | 8.5M | 33.9M | 40.9M | 54.6M | 64.4M | 87.1M | 37.7M |
| Operating expenses | 23.8M | 46.8M | 118.8M | 216.5M | 227.3M | 253.9M | 254.9M | 145M |
| Operating income | -23.8M | -46.8M | -118.8M | -216.5M | -227.3M | -253.9M | -187.5M | -145M |
| Operating margin | -169.9K% | — | — | — | — | — | -278% | — |
| Non-operating income, net | — | 482K | 683K | 52M | 6M | -23M | 21.8M | 8.4M |
| Pretax income | -23.4M | -46.4M | -118.1M | -164.6M | -221.3M | -276.9M | -165.7M | -136.6M |
| Income tax | 4K | 15K | 444K | -297K | -469K | -601K | 177K | 442K |
| Net income | -23.4M | -46.4M | -118.5M | -166.1M | -237.1M | -292.3M | -165.9M | -137.1M |
| Net margin | -167.4K% | — | — | — | — | — | -246% | — |
| EBITDA | -23.7M | -47.2M | -119.3M | -268M | -231.8M | -229.6M | -207.9M | -152.7M |
| EPS | -1.17 | -1.39 | -4.19 | -3.72 | -4.48 | -4.47 | -2.33 | -1.91 |
| Diluted EPS | -1.17 | -1.39 | -4.19 | -3.72 | -4.48 | -4.47 | -2.33 | -1.91 |
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 | 40.6M | 0 | 0 | 26.9M | 0 | 0 | 0 | 0 | 0 | 0 |
| Cost of revenue | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — | — | — | — | — | — |
| Research & development | 46.8M | 51.6M | 49.6M | 48.4M | 36.8M | 33M | 27.2M | 27.6M | 22.9M | 29.5M | 28.7M | 35.2M |
| Selling, general & administrative | 16M | 16.4M | 15.7M | 16.8M | 14.6M | 40M | 10.6M | 8.4M | 10.8M | 7.9M | 9.1M | 9.2M |
| Operating expenses | 62.7M | 67.9M | 65.3M | 65.1M | 51.4M | 73M | 37.8M | 36.1M | 33.7M | 37.4M | 37.9M | 44.4M |
| Operating income | -62.7M | -67.9M | -24.8M | -65.1M | -51.4M | -46.1M | -37.8M | -36.1M | -33.7M | -37.4M | -37.9M | -44.4M |
| Operating margin | — | — | -61.1% | — | — | -171.6% | — | — | — | — | — | — |
| Non-operating income, net | 7.2M | 6.8M | 34.9M | -22.9M | 11.2M | -1.6M | -10.5M | 9.2M | 7M | 2.6M | 2.6M | 2.2M |
| Pretax income | -55.5M | -61.1M | 10.2M | -88M | -40.2M | -47.7M | -48.3M | -26.9M | -26.7M | -34.8M | -35.2M | -42.1M |
| Income tax | 31K | -135K | 143K | 266K | -27K | -205K | 0 | 0 | 0 | 442K | 120K | 138K |
| Net income | -55.5M | -60.9M | 10M | -88.3M | -40.2M | -47.5M | -48.3M | -26.9M | -26.7M | -35.2M | -35.4M | -42.3M |
| Net margin | — | — | 24.8% | — | — | -176.7% | — | — | — | — | — | — |
| EBITDA | -69.6M | -74.4M | -59.4M | -42M | -62.4M | -44.2M | -27.1M | -45.1M | -40.6M | -39.9M | -40.3M | -46.5M |
| EPS | -0.79 | — | 0.14 | -1.24 | -0.56 | — | -0.67 | -0.37 | -0.37 | — | -0.5 | -0.59 |
| Diluted EPS | -0.79 | — | 0.14 | -1.24 | -0.56 | — | -0.67 | -0.37 | -0.37 | — | -0.5 | -0.59 |
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 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Market cap | — | — | — | — | — | — | 215.4M | 97M | 246.1M |
| Enterprise value | — | — | — | — | — | — | -116.1M | -113.2M | 56.6M |
| Shares outstanding | 18.1M | 32.9M | 28.1M | 42.7M | 52.9M | 65.4M | 71.1M | 71.9M | 71.9M |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| P/E | — | — | — | — | — | — | — | — | -1.36 |
| P/S | — | — | — | — | — | — | 3.19 | — | — |
| P/B | — | — | — | — | — | — | 0.64 | 0.45 | 1.3 |
| EV/EBITDA | — | — | — | — | — | — | 0.56 | 0.74 | -0.38 |
| EV/Sales | — | — | — | — | — | — | -1.72 | — | — |
| Earnings yield | — | — | — | — | — | — | — | — | -73.6% |
| FCF yield | — | — | — | — | — | — | -79.4% | -129.1% | -32.3% |
| PEG | — | — | — | — | — | — | — | — | -0.02 |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Operating margin | -169.9K% | — | — | — | — | — | -278% | — | 0% |
| Net margin | -167.4K% | — | — | — | — | — | -246% | — | 0% |
| ROE | -72.5% | 63.3% | -35.6% | -45.6% | -54.6% | -66.8% | -49.2% | -63.4% | -66.7% |
| ROA | -57.2% | -53% | -32.4% | -36.5% | -44% | -53% | -38.5% | -47.4% | -33.2% |
| ROIC | -332.5% | 33.5% | 3.8K% | -307.1% | -543.5% | 10.7K% | -3.3K% | -2.4K% | -5.9K% |
| Return on tangible assets | -147.1% | -74.3% | -34.8% | -37.2% | -44.6% | -53.7% | -38.5% | -47.4% | -64.8% |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Current ratio | 4.3 | 4.62 | 12.1 | 7.98 | 7.98 | 7.16 | 7.32 | 6.93 | 4.82 |
| Quick ratio | 4.3 | 4.62 | 12.1 | 7.98 | 7.98 | 7.16 | 7.32 | 6.93 | 4.82 |
| Debt / equity | — | -0.01 | 0.01 | 0.13 | 0.1 | 0.1 | 0.12 | 0.17 | 0.26 |
| Debt / assets | — | 0.01 | 0.01 | 0.1 | 0.08 | 0.08 | 0.09 | 0.12 | 0.16 |
| Net debt / EBITDA | — | 1.41 | 2.82 | 1.1 | 1.69 | 1.92 | 1.59 | 1.38 | 0.84 |
| Effective tax rate | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Revenue per share | 0 | 0 | 0 | 0 | 0 | 0 | 0.95 | 0 | 0 |
| EPS (basic) | -1.17 | -1.39 | -4.19 | -3.72 | -4.48 | -4.47 | -2.33 | -1.91 | -1.91 |
| EPS (diluted) | -1.17 | -1.39 | -4.19 | -3.72 | -4.48 | -4.47 | -2.33 | -1.91 | -1.96 |
| Book value per share | 1.79 | -2.23 | 11.9 | 8.54 | 8.21 | 6.69 | 4.74 | 3.01 | 2 |
| FCF per share | -1.36 | -1.2 | -3.12 | -3.75 | -3.15 | -3.19 | -2.41 | -1.74 | -1.8 |
| Cash per share | 1.39 | 2.05 | 12 | 7.96 | 8.27 | 7.38 | 5.22 | 3.42 | 2.44 |
| Capex per share | 0.01 | 0.01 | 0.03 | 0.14 | 0.05 | 0.01 | 0 | — | — |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Capex / revenue | 1.6K% | — | — | — | — | — | 0.23% | — | — |
| Capex / operating cash flow | -1.01% | -0.94% | -0.93% | -5.24% | -1.5% | -0.28% | -0.09% | — | — |
| Payout ratio | — | — | — | — | — | — | — | — | 0% |
| -$3.72 |
| — |
| — |
| $0 |
| — |
| FY20 | — | -$4.19 | — | — | $0 | — |
| FY19 | — | -$1.39 | — | — | $0 | — |
| FY18 | — | -$1.17 | — | — | $14K | — |
| 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 | $40.6M | $0 | $0 | $26.9M | $0 | $0 | $0 | $0 | $0 | $0 |
| YoY change | 0% | 0% | +InfinityT% | 0% | 0% | +InfinityT% | -100% | 0% | 0% | -100% | 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 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|
| Cash & short-term investments | 25.2M | 67.2M | 338.5M | 339.9M | 437.4M | 482.9M | 371.1M | 245.9M |
| Receivables | 917K | 140K | 417K | 4K | — | — | — | — |
| Inventory | — | — | — | — | — | — | — | — |
| Total current assets | 26.7M | 68.9M | 345.1M | 350.8M | 451.9M | 496.7M | 386.1M | 253.2M |
| Property, plant & equipment | 260K | 2.8M | 3.6M | 52.8M | 50.1M | 41.7M | 37.2M | 29M |
| Goodwill & intangibles | 25.1M | 25.1M | 25.1M | 7.5M | 7.5M | 7.5M | 0 | — |
| Total assets | 41M | 87.5M | 365.6M | 454.5M | 539.3M | 551.7M | 430.3M | 289M |
| Accounts payable | 3.4M | 4.3M | 8.7M | 11.6M | 11.2M | 14.9M | 7.4M | 7.2M |
| Short-term debt | — | 781K | 902K | 1.5M | — | — | — | — |
| Total current liabilities | 6.2M | 14.9M | 28.6M | 43.9M | 56.6M | 69.4M | 52.7M | 36.6M |
| Long-term debt | — | — | 1.1M | 44.5M | 45.2M | 43.1M | 39.6M | 35.7M |
| Total liabilities | 8.7M | 160.8M | 32.2M | 90M | 105.3M | 114.3M | 93.2M | 72.8M |
| Shareholders' equity | 32.3M | -73.3M | 333.4M | 364.5M | 434M | 437.4M | 337.2M | 216.2M |
| Total debt | — | 781K | 2M | 45.9M | 45.2M | 43.1M | 39.6M | 35.7M |
| Net debt | — | -66.5M | -53M | -13.8M | 2.1M | 15.1M | 5.7M | -291K |
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 | 516.6M | 482.9M | 489M | 426.4M | 391.3M | 371.1M | 332.5M | 303.4M | 280.7M | 245.9M | 211.8M | 174.6M |
| Receivables | — | — | — | — | — | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current assets | 528.3M | 496.7M | 503.8M | 439.6M | 400.3M | 386.1M | 342.9M | 311.6M | 288.3M | 253.2M | 218.1M | 181.3M |
| Property, plant & equipment | 42.6M | 41.7M | 40.4M | 38.8M | 38.4M | 37.2M | 35.2M | 34.3M | 33.1M | 29M | 28.2M | 27.3M |
| Goodwill & intangibles | 7.5M | 7.5M | 7.5M | 7.5M | 7.5M | 0 | — | — | — | — | — | — |
| Total assets | 585.7M | 551.7M | 557.5M | 491.7M | 450.7M | 430.3M | 384M | 351.7M | 327.3M | 289M | 253.1M | 215.3M |
| Accounts payable | 14.3M | 14.9M | 10.5M | 20.4M | 8.2M | 7.4M | 7.8M | 3.7M | 7M | 7.2M | 7.4M | 8.1M |
| Short-term debt | 2.4M | — | — | — | — | — | — | — | — | — | — | — |
| Total current liabilities | 58.9M | 69.4M | 54.8M | 66.7M | 54.9M | 52.7M | 49.4M | 39M | 37.2M | 36.6M | 35.2M | 37.6M |
| Long-term debt | 43.3M | 43.1M | 42.6M | 41.3M | 40.5M | 39.6M | 38.7M | 37.7M | 36.7M | 35.7M | 34.6M | 33.6M |
| Total liabilities | 103.8M | 114.3M | 98.7M | 109.1M | 96.3M | 93.2M | 88.6M | 77.2M | 74.4M | 72.8M | 70.4M | 71.7M |
| Shareholders' equity | 481.9M | 437.4M | 458.8M | 382.6M | 354.3M | 337.2M | 295.4M | 274.5M | 252.9M | 216.2M | 182.7M | 143.6M |
| Total debt | 45.7M | 43.1M | 42.6M | 41.3M | 40.5M | 39.6M | 38.7M | 37.7M | 36.7M | 35.7M | 34.6M | 33.6M |
| Net debt | -65.1M | 15.1M | 5M | 4.3M | -863K | 5.7M | -3.3M | 91K | -2.4M | -291K | 2.7M | 8.8M |
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 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|
| Net income | -23.4M | -46.4M | -118.5M | -166.1M | -237.1M | -292.3M | -165.9M | -137.1M |
| Depreciation & amortization | 51K | 111K | 160K | 544K | 1.4M | 1.4M | 1.3M | 739K |
| Stock-based compensation | 308K | 617K | 23.1M | 35.7M | 46.8M | 54.8M | 67.3M | 20.7M |
| Change in working capital | 683K | 8M | 13.4M | 15.7M | 19.9M | 11.5M | -22.8M | -12.1M |
| Operating cash flow | -22.4M | -37.6M | -81.9M | -116.6M | -169.8M | -210.4M | -167.5M | -125.2M |
| Capital expenditure | -227K | -352K | -758K | -6.1M | -2.5M | -583K | -156K | — |
| Investing cash flow | -227K | -352K | -284.8M | -18.1M | -114.2M | -44.5M | 176.6M | 130.9M |
| Dividends paid | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | -10M |
| Financing cash flow | 9.5M | 81.8M | 360.4M | 178.5M | 261M | 237.3M | 108K | -4.3M |
| Net change in cash | -13.1M | 43.8M | -6.3M | 43.8M | -22.9M | -17.5M | 9.2M | 1.4M |
| Free cash flow | -24.5M | -39.5M | -87.6M | -160.2M | -166.3M | -208.4M | -171.1M | -125.2M |
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 | -55.5M | -60.9M | 10M | -88.3M | -40.2M | -47.5M | -48.3M | -26.9M | -26.7M | -35.2M | -35.4M | -42.3M |
| Depreciation & amortization | 348K | 337K | 324K | 327K | 321K | 317K | 262K | 160K | 160K | 157K | 151K | 153K |
| Stock-based compensation | 13.9M | 13.9M | 12.8M | 12.7M | 10.4M | 31.4M | 6.5M | 6.3M | 4.8M | 3.1M | 3.2M | 3.2M |
| Change in working capital | -271K | 350K | — | -76K | -690K | 258K | 5.1M | -93K | 127K | 53K | -250K | -161K |
| Operating cash flow | -41.6M | -46.4M | -2.4M | -75.3M | -30.2M | -37.4M | -36.4M | -34.7M | -27M | -30.9M | -33M | -37.2M |
| Capital expenditure | -91K | -173K | -40K | -116K | 0 | 0 | 5K | — | — | — | — | — |
| Investing cash flow | -117.5M | -42.1M | 61.5M | 34.5M | 48.2M | 32.3M | 40.5M | 29.8M | 28.3M | 32.3M | 30M | 30M |
| Dividends paid | — | — | — | — | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — | — | — | — | — |
| Financing cash flow | 309K | 0 | 7K | 9K | 92K | 0 | 189K | 0 | 115K | 5.4M | -1.1M | 65K |
| Net change in cash | -158.7M | -88.4M | 59.2M | -40.8M | 18.2M | -5.1M | 4.2M | -4.9M | 1.5M | 6.8M | -4M | -7.1M |
| Free cash flow | -38.8M | -40.8M | -52M | -35.3M | -44M | -39.7M | -32.6M | -34.7M | -27M | -30.9M | -33M | -37.2M |