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 | -$0.61 | -$0.78 | -27.9% | — | $0 | — |
| Q1 26 | -$0.76 | -$0.69 | +9.2% | — | $0 | — |
| Q4 25 | -$0.96 | -$0.9 | +6.2% | — | $0 | — |
| Q3 25 | -$1.54 | -$1.47 | +4.5% | — | $0 | — |
| Q2 25 | -$1.57 | -$1.63 | -3.8% | — | $0 | — |
| Q1 25 | -$1.47 | -$1.64 | -11.6% | — | $0 | — |
| Q4 24 | -$1.47 | -$1.71 | -16.3% | — | $0 | — |
| Q3 24 | -$1.55 | -$1.74 | -12.3% | — | $0 | — |
| Q2 24 | -$1.7 | -$3.5 | -105.9% | — | $0 | — |
| Q1 24 | -$1.62 | -$1.77 | -9.3% | — | $0 | — |
| Q4 23 | -$1.34 | -$1.61 | -20.1% | — | $0 | — |
| Q3 23 | -$1.34 | -$1.5 | -11.9% | — | $0 | — |
| Q2 23 | -$1.19 | -$1.32 | -10.9% | — | $0 | — |
| Q1 23 | -$1.41 | -$1.03 | +27.0% | — | $0 | — |
| Q4 22 | -$1.22 | -$3.32 | -172.1% | — | $0 | — |
| Q3 22 | -$2.41 | -$1.75 | +27.4% | — | $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 | — | -$6.86 | — | — | $0 | — |
| FY24 | — | -$9.28 | — | — | $0 | — |
| FY23 | — | -$5.73 | — | — | $0 | — |
| FY22 | — | -$12.8 | — | — | $0 | — |
| FY21 | — | -$5.97 | — |
Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.
| Period | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 | $0 | $0 |
| YoY change | — | 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 | Q3 24 | Q4 24 | Q1 25 |
|---|
Revenue, gross profit, operating income, and net income per period.
Click a row to chart it; unreported figures show a dash.
| Period | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | 0 | 0 | 0 |
| Cost of revenue | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — |
| Research & development | 98.5M | 181.5M | 437.1M | 373.3M | 795.9M | 635.1M |
| Selling, general & administrative | 16M | 37.4M | 130.9M | 62.8M | 89.2M | 110.3M |
| Operating expenses | 114.5M | 218.9M | 567.9M | 436.1M | 885.1M | 745.4M |
| Operating income | -114.5M | -218.9M | -567.9M | -436.1M | -885.1M | -745.4M |
| Operating margin | — | — | — | — | — | — |
| Non-operating income, net | -4.2M | 6.5M | -1.9M | 26.5M | 39.4M | 8M |
| Pretax income | -118.7M | -212.4M | -569.8M | -409.6M | -845.7M | -737.4M |
| Income tax | 0 | 1.4M | 438K | -1.4M | 735K | 1.4M |
| Net income | -118.7M | -213.8M | -570.3M | -408.2M | -846.4M | -738.8M |
| Net margin | — | — | — | — | — | — |
| EBITDA | -114.4M | -217.5M | -566.5M | -429.1M | -877.3M | -735.5M |
| EPS | -3.31 | -5.97 | -12.8 | -5.73 | -9.28 | -6.86 |
| Diluted EPS | -3.31 | -5.97 | -12.8 | -5.73 | -9.28 | -6.86 |
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 | 95.5M | 134.8M | 156M | 314.8M | 157.6M | 167.5M | 187.6M | 184.4M | 141.2M | 121.9M | 103.8M | 100.8M |
| Selling, general & administrative | 15M | 18.9M | 27.3M | 19M | 20.6M | 22.5M | 34M | 27.3M | 28.2M | 20.8M | 26.6M | 24.1M |
| Operating expenses | 110.5M | 153.7M | 183.2M | 333.8M | 178.2M | 189.9M | 221.6M | 211.7M | 169.4M | 142.7M | 130.4M | 124.9M |
| Operating income | -110.5M | -153.7M | -183.2M | -333.8M | -178.2M | -189.9M | -221.6M | -211.7M | -169.4M | -142.7M | -130.4M | -124.9M |
| Operating margin | — | — | — | — | — | — | — | — | — | — | — | — |
| Non-operating income, net | 4.7M | 7.7M | 4.3M | 14.2M | 17.8M | 3.1M | 493K | 13.8M | -3.8M | -2.5M | 168K | -12M |
| Pretax income | -105.9M | -146M | -178.9M | -319.6M | -160.4M | -186.8M | -221.1M | -197.9M | -173.2M | -145.2M | -130.3M | -136.9M |
| Income tax | -3.3M | -1.2M | 569K | 177K | -59K | 48K | 609K | 261K | 221K | 351K | 272K | 391K |
| Net income | -102.6M | -144.8M | -179.5M | -319.8M | -160.3M | -186.8M | -221.7M | -198.1M | -173.4M | -145.6M | -130.5M | -137.3M |
| Net margin | — | — | — | — | — | — | — | — | — | — | — | — |
| EBITDA | -109M | -151.8M | -181.8M | -331.8M | -176.2M | -187.5M | -219.3M | -209.7M | -166.3M | -140.2M | -128.1M | -122.6M |
| EPS | -1.5 | — | -2.2 | -3.64 | -1.7 | -1.85 | -2.17 | -1.94 | -1.64 | -1.21 | -0.88 | -0.91 |
| Diluted EPS | -1.5 | — | -2.2 | -3.64 | -1.7 | -1.85 | -2.17 | -1.94 | -1.64 | -1.21 | -0.88 | -0.91 |
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 | — | — | — | — | — | — | — | — | 2B |
| Enterprise value | — | — | — | — | — | — | — | — | 2B |
| Shares outstanding | — | — | 35.8M | 35.8M | 44.7M | 71.2M | 91.2M | 107.6M | 107.6M |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| P/E | — | — | — | — | — | — | — | — | -1.93 |
| P/B | — | — | — | — | — | — | — | — | 161.2 |
| EV/EBITDA | — | — | — | — | — | — | — | — | -3.83 |
| Earnings yield | — | — | — | — | — | — | — | — | -51.7% |
| FCF yield | — | — | — | — | — | — | — | — | -12.8% |
| PEG | — | — | — | — | — | — | — | — | 0.04 |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Operating margin | — | — | — | — | — | — | — | — | 0% |
| Net margin | — | — | — | — | — | — | — | — | 0% |
| ROE | — | — | -154.6% | -225.8% | -105.8% | -95.4% | -199.9% | -1.4K% | -799.5% |
| ROA | — | — | -106.4% | -150.5% | -86.2% | -79.5% | -137.6% | -163.7% | -72% |
| ROIC | — | — | 2K% | -1K% | -530.6% | -566.1% | 3.4K% | -4.2K% | -1.4K% |
| Return on tangible assets | — | — | -106.4% | -208.6% | -91.7% | -86.2% | -147.1% | -179.4% | -177.4% |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Current ratio | — | — | 3 | 2.26 | 6.52 | 7.98 | 3.49 | 3.18 | 4.73 |
| Quick ratio | — | — | 3 | 2.26 | 6.52 | 7.98 | 3.49 | 3.18 | 4.73 |
| Debt / equity | — | — | — | 0.03 | 0.06 | 0.07 | 0.09 | 5.47 | 24.3 |
| Debt / assets | — | — | — | 0.02 | 0.05 | 0.06 | 0.06 | 0.63 | 0.8 |
| Net debt / EBITDA | — | — | — | 0.34 | 0.76 | 0.82 | 0.51 | 0.05 | -0.05 |
| Effective tax rate | — | — | 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 |
| EPS (basic) | — | — | -3.31 | -5.97 | -12.8 | -5.73 | -9.28 | -6.86 | -6.86 |
| EPS (diluted) | — | — | -3.31 | -5.97 | -12.8 | -5.73 | -9.28 | -6.86 | -4.55 |
| Book value per share | — | — | 2.14 | 2.64 | 12 | 6.01 | 4.64 | 0.48 | 0.08 |
| FCF per share | — | — | -2.2 | -4.1 | -7.57 | -4.7 | -6.43 | -5.67 | -3.4 |
| Cash per share | — | — | 2.3 | 2.12 | 10.4 | 5.36 | 5.33 | 2.97 | 1.77 |
| Capex per share | — | — | 0.08 | 0.03 | 0.14 | 0.04 | 0.04 | — | — |
| Metric | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|---|
| Capex / operating cash flow | — | — | -2.91% | -0.67% | -2.22% | -0.87% | -0.58% | — | — |
| Payout ratio | — | — | — | — | — | — | — | — | 0% |
| — |
| $0 |
| — |
| FY20 | — | -$3.31 | — | — | $0 | — |
| 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 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|
| Cash & short-term investments | 264.2M | 316.7M | 82.5M | 76.1M | 465.3M | 381.8M | 486M | 319.1M |
| Receivables | — | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — | — |
| Total current assets | 272.3M | 328.3M | 89.8M | 94.8M | 587M | 442.4M | 538.5M | 368.3M |
| Property, plant & equipment | 838K | 1.3M | 13.6M | 18.2M | 52.4M | 36.8M | 39.6M | 46.9M |
| Goodwill & intangibles | — | — | 0 | 39.6M | 39.6M | 39.6M | 39.6M | 39.6M |
| Total assets | 290M | 344.3M | 111.5M | 142.1M | 661.8M | 513.2M | 615.1M | 451.4M |
| Accounts payable | 10.8M | 14.1M | 2.8M | 4.8M | 10.7M | 15.6M | 18M | 11.6M |
| Short-term debt | — | — | — | — | 3M | 3.3M | 3.8M | 5.8M |
| Total current liabilities | 10.8M | 14.1M | 29.9M | 41.9M | 90M | 55.4M | 154.2M | 115.9M |
| Long-term debt | 117.5M | — | — | 2.8M | 30.6M | 27.6M | 32.8M | 278.9M |
| Total liabilities | 130.3M | 158.3M | 34.7M | 47.4M | 123M | 85.2M | 191.7M | 399.4M |
| Shareholders' equity | 110.8M | -90.9M | 76.8M | 94.7M | 538.8M | 428M | 423.4M | 52.1M |
| Total debt | 117.5M | — | — | 2.8M | 33.6M | 30.9M | 36.6M | 284.6M |
| Net debt | -146.7M | — | — | -73.3M | -171.3M | -217.5M | -62.5M | 54.7M |
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 | 240.6M | 381.8M | 283.4M | 436.9M | 378.8M | 486M | 322.7M | 405M | 260.2M | 319.1M | 347.8M | 267.9M |
| Receivables | — | — | — | — | — | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current assets | 310.6M | 442.4M | 348.7M | 511.3M | 440.5M | 538.5M | 382.8M | 474.8M | 323.6M | 368.3M | 385.6M | 296.6M |
| Property, plant & equipment | 50.7M | 36.8M | 35.8M | 34.5M | 33.1M | 39.6M | 39.1M | 38.8M | 48.6M | 46.9M | 44.6M | 37.5M |
| Goodwill & intangibles | 39.6M | 39.6M | 39.6M | 39.6M | 39.6M | 39.6M | 39.6M | 39.6M | 39.6M | 39.6M | 39.6M | 39.6M |
| Total assets | 382.7M | 513.2M | 418.5M | 582.6M | 510.5M | 615.1M | 458.9M | 550.4M | 409.1M | 451.4M | 466.4M | 370.4M |
| Accounts payable | 9.5M | 15.6M | 36.4M | 17.3M | 19.7M | 18M | 19.1M | 19.6M | 17.5M | 11.6M | 10.4M | 12.1M |
| Short-term debt | 3.3M | 3.3M | 3.4M | 3.5M | 3.7M | 3.8M | 4.7M | 4.7M | 5.5M | 5.8M | 5.9M | 4.7M |
| Total current liabilities | 62.2M | 55.4M | 86.6M | 156.2M | 152.3M | 154.2M | 164M | 124.3M | 113M | 115.9M | 52.1M | 62.7M |
| Long-term debt | 28.3M | 27.6M | 27.1M | 26.2M | 25.3M | 32.8M | 30.8M | 286.9M | 308.7M | 278.9M | 280.3M | 292.4M |
| Total liabilities | 92.7M | 85.2M | 117.1M | 198.9M | 194.5M | 191.7M | 199.5M | 415.8M | 426.3M | 399.4M | 336.9M | 358.5M |
| Shareholders' equity | 290M | 428M | 301.4M | 383.7M | 316M | 423.4M | 259.5M | 134.6M | -17.2M | 52.1M | 129.5M | 12.2M |
| Total debt | 31.6M | 30.9M | 30.5M | 29.7M | 29M | 36.6M | 35.5M | 291.6M | 314.2M | 284.6M | 286.2M | 297M |
| Net debt | -80.1M | -217.5M | -152.2M | -209.4M | -55.4M | -62.5M | -62.9M | 125.8M | 129.3M | 54.7M | 13.1M | 59M |
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 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|
| Net income | -118.7M | -213.8M | -570.3M | -408.2M | -846.4M | -738.8M |
| Depreciation & amortization | 72K | 1.4M | 1.4M | 6.9M | 7.9M | 9.9M |
| Stock-based compensation | 29.5M | 65.6M | 193.6M | 28.8M | 72M | 112.4M |
| Change in working capital | -3.5M | 2.9M | 5.9M | 4.9M | 710K | -6.4M |
| Operating cash flow | -92.6M | -139.4M | -273.2M | -351.5M | -697.4M | -609.4M |
| Capital expenditure | -2.7M | -938K | -6.1M | -3M | -4M | — |
| Investing cash flow | -2.7M | 944K | -269.8M | 129.8M | -245.4M | 301.3M |
| Dividends paid | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — |
| Financing cash flow | 152.2M | 138.4M | 767.6M | 211.9M | 666.3M | 437.3M |
| Net change in cash | 57M | 3K | 224.7M | -9.7M | -276.5M | 129.1M |
| Free cash flow | -78.7M | -146.8M | -338.8M | -334.8M | -586.5M | -610.2M |
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 | -102.6M | -144.8M | -179.5M | -319.8M | -160.3M | -186.8M | -221.7M | -198.1M | -173.4M | -145.6M | -130.5M | -137.3M |
| Depreciation & amortization | 1.5M | 1.9M | 1.4M | 2M | 2M | 2.5M | 2.2M | 2M | 3.1M | 2.6M | 2.4M | 2.3M |
| Stock-based compensation | 4.5M | 15.9M | 34.9M | 12.2M | 12.2M | 12.7M | 53.1M | 20.8M | 21.5M | 17M | 28.3M | 19.2M |
| Change in working capital | -2.5M | 6.1M | 19.1M | -19.1M | 2.5M | -1.7M | 91K | 1.5M | -2.1M | -5.8M | -1.2M | 1.7M |
| Operating cash flow | -100.1M | -100.1M | -109.2M | -257M | -147.3M | -180.6M | -164.3M | -167.9M | -145.7M | -130.7M | -149.9M | -85.1M |
| Capital expenditure | -1.2M | -470K | -440K | -2.9M | -611K | -49K | -461K | — | — | — | — | — |
| Investing cash flow | 58.5M | -3.9M | 33.6M | -97.9M | -93.4M | -87.7M | 164.9M | -13.5M | 165M | -13.7M | 15.2M | 45.3M |
| Dividends paid | — | — | — | — | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — | — | — | — | — |
| Financing cash flow | -38.5M | 2M | 1.2M | 238K | 76.4M | 269.9M | — | 0 | 0 | 188.5M | 178.9M | 0 |
| Net change in cash | -80.1M | -102M | -74.3M | -354.7M | -164.3M | 1.6M | 601K | -181.4M | 19.3M | 44.1M | 44.2M | -39.8M |
| Free cash flow | -96.1M | -115.4M | -103.1M | -170.7M | -141.9M | -170.8M | -165.6M | -168.2M | -145.7M | -130.7M | -149.9M | -85.6M |