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 | -$0.77 | -$0.65 | +15.6% | — | $0 | — |
| Q1 26 | -$0.5 | -$0.8 | -60.0% | — | $0 | — |
| Q4 25 | -$0.51 | -$0.45 | +11.8% | — | $0 | — |
| Q3 25 | -$0.64 | -$0.52 | +18.8% | — | $0 | — |
| Q2 25 | -$0.6 | -$0.65 | -8.3% | — | — | — |
| Q1 25 | -$0.62 | -$0.56 | +9.7% | — | — | — |
| Q4 24 | -$0.65 | -$0.52 | +20.0% | — | $0 | — |
| Q3 24 | -$0.64 | -$0.62 | +3.1% | — | — | — |
| Q2 24 | -$0.67 | -$0.6 | +10.4% | — | — | — |
| Q1 24 | -$0.46 | -$0.76 | -65.2% | — | — | — |
| Q4 23 | -$0.83 | -$6.7 | -707.2% | — | $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 | — | -$2.19 | — | — | $0 | — |
| FY24 | — | -$2.5 | — | — | $0 | — |
| FY23 | — | -$1.42 | — | — | $0 | — |
| FY22 | — | -$2.13 | — | — | $0 | — |
| FY21 | — | -$0.94 | — | — | $210K |
Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.
| Period | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | $210K | $0 | $0 | $0 | $0 |
| YoY change | — | -100% | 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 | Q2 25 | Q3 25 | Q4 25 |
|---|
Revenue, gross profit, operating income, and net income per period.
Click a row to chart it; unreported figures show a dash.
| Period | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | 210K | 0 | 0 | 0 | 0 |
| Cost of revenue | — | — | — | — | — |
| Gross profit | — | — | — | — | — |
| Gross margin | — | — | — | — | — |
| Research & development | 8.4M | 23.7M | 30.3M | 47M | 45.6M |
| Selling, general & administrative | 3.9M | 5.5M | 7.5M | 21.6M | 20.7M |
| Operating expenses | 9.3M | 27.5M | 37.8M | 68.6M | 66.4M |
| Operating income | -9.1M | -27.5M | -37.8M | -68.6M | -66.4M |
| Operating margin | -4.3K% | — | — | — | — |
| Non-operating income, net | -107K | -369K | 525K | -297K | -1M |
| Pretax income | -9.2M | -27.7M | -36.3M | -61.4M | -63.2M |
| Income tax | — | — | — | — | — |
| Net income | -9.2M | -27.7M | -36.3M | -61.4M | -63.2M |
| Net margin | -4.4K% | — | — | — | — |
| EBITDA | -8.8M | -27M | -35.1M | -59.6M | -59.4M |
| EPS | -0.94 | -2.13 | -1.42 | -2.5 | -2.19 |
| Diluted EPS | -0.94 | -2.13 | -1.42 | -2.5 | -2.19 |
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 |
| Cost of revenue | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — | — | — | — | — | — |
| Research & development | — | 9.6M | — | — | — | 10.8M | — | — | 10.5M | 12M | 20.3M | 22.1M |
| Selling, general & administrative | — | 2.1M | — | — | — | 6.2M | — | — | 4.4M | 5.1M | 6.8M | 7M |
| Operating expenses | — | 11.8M | — | — | — | 17M | — | — | 15M | 17.1M | 27.1M | 29.1M |
| Operating income | — | -11.8M | — | — | — | -17M | — | — | -15M | -17.1M | -27.1M | -29.1M |
| Operating margin | — | — | — | — | — | — | — | — | — | — | — | — |
| Non-operating income, net | — | 166K | — | — | — | -6K | — | — | -112K | -113K | -115K | -130K |
| Pretax income | — | -11.2M | — | — | — | -15.2M | — | — | -14.2M | -16.2M | -26.2M | -27.6M |
| Income tax | — | — | — | — | — | — | — | — | — | — | — | — |
| Net income | — | -11.2M | — | — | — | -15.2M | — | — | -14.2M | -16.2M | -26.2M | -27.6M |
| Net margin | — | — | — | — | — | — | — | — | — | — | — | — |
| EBITDA | — | -10.9M | — | — | — | -14.7M | — | — | -13.4M | -15.4M | -25.5M | -27M |
| EPS | -0.36 | — | -0.76 | -0.6 | -0.62 | — | -0.56 | -0.65 | -0.52 | — | -0.8 | -0.65 |
| Diluted EPS | -0.36 | — | -0.76 | -0.6 | -0.62 | — | -0.56 | -0.65 | -0.52 | — | -0.8 | -0.65 |
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 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|
| Market cap | — | — | — | 104.1M | — | 1B |
| Enterprise value | — | — | — | -47.2M | — | 819.1M |
| Shares outstanding | 9.7M | 13M | 25.6M | 24.6M | 28.9M | 28.9M |
| Metric | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|
| P/E | — | — | — | — | — | -12.2 |
| P/B | — | — | — | 0.69 | — | 4.24 |
| EV/EBITDA | — | — | — | 0.79 | — | -9.35 |
| Earnings yield | — | — | — | — | — | -8.21% |
| FCF yield | — | — | — | -47.6% | — | -4.1% |
| PEG | — | — | — | — | — | -8.06 |
| Metric | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|
| Operating margin | -4.3K% | — | — | — | — | 0% |
| Net margin | -4.4K% | — | — | — | — | 0% |
| ROE | 73.6% | 72.2% | 50.7% | -40.6% | -41.8% | -49.2% |
| ROA | -31.9% | -54.5% | -41.9% | -34.6% | -34.2% | -26.8% |
| Return on tangible assets | -31.9% | -54.5% | -41.9% | -34.6% | -34.2% | -33.2% |
| Metric | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|
| Current ratio | 15.3 | 8.85 | 15.2 | 16.9 | 15.7 | 14.9 |
| Quick ratio | 15.3 | 8.85 | 15.2 | 16.9 | 15.7 | 14.9 |
| Debt / equity | — | -0.25 | -0.14 | 0.11 | 0.16 | 0.11 |
| Debt / assets | — | 0.19 | 0.12 | 0.1 | 0.13 | 0.09 |
| Net debt / EBITDA | — | 1.43 | 2.07 | 2.54 | 2.57 | 2.71 |
| Interest coverage | — | — | -25.5 | -43.7 | -24.6 | -36.3 |
| Metric | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|
| Revenue per share | 0.02 | 0 | 0 | 0 | 0 | 0 |
| EPS (basic) | -0.94 | -2.13 | -1.42 | -2.5 | -2.19 | -2.19 |
| EPS (diluted) | -0.94 | -2.13 | -1.42 | -2.5 | -2.19 | -2.32 |
| Book value per share | -1.28 | -2.96 | -2.8 | 6.16 | 5.24 | 6.25 |
| FCF per share | -1.02 | -1.63 | -1.33 | -2.01 | -1.8 | -1.61 |
| Cash per share | 2.64 | 3.72 | 3.23 | 6.84 | 6.12 | 6.21 |
| Capex per share | — | — | — | — | 0 | 0.01 |
| Metric | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|
| Capex / operating cash flow | — | — | — | — | -0.05% | -0.81% |
| Payout ratio | — | — | — | — | — | 0% |
| — |
| Q1 26 |
|---|
| Q2 26 |
|---|
| Revenue | — | $0 | — | — | — | $0 | — | — | $0 | $0 | $0 | $0 |
| YoY change | — | 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 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash & short-term investments | 25.7M | 48.3M | 82.5M | 168.2M | 176.5M |
| Receivables | 1.5M | 333K | — | — | — |
| Inventory | — | — | — | — | — |
| Total current assets | 27.7M | 49.2M | 85.4M | 169.3M | 177.7M |
| Property, plant & equipment | 1.1M | 1.2M | 1.1M | 7.7M | 6.1M |
| Goodwill & intangibles | — | — | — | — | — |
| Total assets | 28.8M | 50.9M | 86.6M | 177.5M | 184.7M |
| Accounts payable | 600K | 1.6M | 1.1M | 1.6M | 1.9M |
| Short-term debt | — | 283K | 125K | 870K | 1.7M |
| Total current liabilities | 1.8M | 5.6M | 5.6M | 10M | 11.3M |
| Long-term debt | — | 9.5M | 9.9M | 16.1M | 22.2M |
| Total liabilities | 41.3M | 89.3M | 158.3M | 26.1M | 33.5M |
| Shareholders' equity | -12.5M | -38.4M | -71.7M | 151.5M | 151.1M |
| Total debt | — | 9.7M | 10M | 16.9M | 24M |
| Net debt | — | -38.6M | -72.6M | -151.3M | -152.5M |
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 | 51.3M | 82.5M | 205.9M | 193.1M | 181.7M | 168.2M | 160.8M | 147.6M | 137.8M | 176.5M | 263.8M | 243.7M |
| Receivables | 8K | — | — | — | — | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current assets | 52M | 85.4M | 208.3M | 195.4M | 183.5M | 169.3M | 163.5M | 149.8M | 139.4M | 177.7M | 269.1M | 247.3M |
| Property, plant & equipment | 987K | 1.1M | 1.6M | 1.4M | 7.6M | 7.7M | 7.3M | 7M | 6.5M | 6.1M | 6.3M | 5.9M |
| Goodwill & intangibles | — | — | — | — | — | — | — | — | — | — | — | — |
| Total assets | 53.2M | 86.6M | 209.9M | 197.4M | 191.6M | 177.5M | 171.9M | 157.9M | 147M | 184.7M | 276.3M | 254.1M |
| Accounts payable | 1.8M | 1.1M | 2.4M | 1.8M | 2.3M | 1.6M | 1.4M | 1.7M | 2.1M | 1.9M | 3.4M | 4M |
| Short-term debt | 198K | 125K | 1.2M | 2.3M | 4.2M | 870K | 876K | 973K | 1.1M | 1.7M | 3.4M | 5.1M |
| Total current liabilities | 6M | 5.6M | 8M | 9.8M | 14M | 10M | 7.3M | 8.1M | 9M | 11.3M | 13.1M | 16.7M |
| Long-term debt | 9.8M | 9.9M | 8.8M | 7.7M | 12.5M | 16.1M | 25.6M | 26.3M | 26.4M | 22.2M | 19.8M | 18.2M |
| Total liabilities | 114.3M | 158.3M | 16.8M | 17.6M | 26.6M | 26.1M | 32.8M | 34.5M | 35.4M | 33.5M | 32.9M | 34.8M |
| Shareholders' equity | -61.1M | -71.7M | 193.1M | 179.8M | 165.1M | 151.5M | 139.1M | 123.4M | 111.6M | 151.1M | 243.4M | 219.2M |
| Total debt | 10M | 10M | 10M | 10.1M | 16.8M | 16.9M | 26.4M | 27.3M | 27.5M | 24M | 23.2M | 23.3M |
| Net debt | -41.3M | -72.6M | -195.9M | -183.1M | -164.9M | -151.3M | -134.3M | -120.3M | -110.3M | -152.5M | -240.5M | -220.4M |
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 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Net income | -9.2M | -27.7M | -36.3M | -61.4M | -63.2M |
| Depreciation & amortization | 145K | 342K | 373K | 502K | 661K |
| Stock-based compensation | 227K | 1.8M | 2.9M | 7.6M | 8.1M |
| Change in working capital | -827K | 2.2M | -307K | 516K | 221K |
| Operating cash flow | -9.6M | -23.2M | -32.7M | -51M | -51.8M |
| Capital expenditure | — | — | — | — | -24K |
| Investing cash flow | — | — | — | — | -24K |
| Dividends paid | — | — | — | — | — |
| Share repurchases | — | — | — | — | -167K |
| Financing cash flow | 31.7M | 43.8M | 68.1M | 135.5M | 59.4M |
| Net change in cash | 22.1M | 20.6M | 35.5M | 84.5M | 7.6M |
| Free cash flow | -9.9M | -21.1M | -33.9M | -49.5M | -51.8M |
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 | -9.1M | -11.2M | -13.4M | -16M | -16.8M | -15.2M | -15.2M | -17.7M | -14.2M | -16.2M | -26.2M | -27.6M |
| Depreciation & amortization | 63K | 92K | 97K | 113K | 122K | 170K | 171K | 169K | 164K | 157K | 184K | 184K |
| Stock-based compensation | 541K | 606K | 2.2M | 1.9M | 2M | 1.6M | 2M | 2M | 2.2M | 1.9M | 2.8M | 3.6M |
| Change in working capital | -346K | -781K | 1.1M | -251K | 409K | -762K | -266K | 323K | 461K | -297K | 1.5M | 652K |
| Operating cash flow | -8.7M | -11.1M | -9.8M | -13.6M | -14.3M | -13.7M | -12.9M | -13.8M | -9.9M | -11.5M | -27.1M | -19.8M |
| Capital expenditure | — | — | — | — | — | — | — | 0 | 0 | 0 | -556K | 0 |
| Investing cash flow | — | — | — | — | — | — | — | 0 | 0 | 0 | -556K | 0 |
| Dividends paid | — | — | — | — | — | — | — | — | — | — | — | — |
| Share repurchases | -60K | — | — | — | 100K | — | — | 0 | — | — | -4.9M | -538K |
| Financing cash flow | -60K | 43.1M | 134.5M | -295K | 1.3M | 0 | 8.9M | 613K | 0 | 50M | 114.9M | -538K |
| Net change in cash | -8.8M | 32M | 124.7M | -13.9M | -13.1M | -13.7M | -4M | -13.2M | -9.9M | 38.5M | 87.3M | -20.3M |
| Free cash flow | -7.8M | -11.9M | -11.2M | -12M | -12.7M | -13.5M | -16.6M | -13.8M | -9.9M | -11.5M | -27.6M | -19.8M |