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 | -$0.23 | -$0.25 | -8.7% | — | $38.6M | — |
| Q1 26 | -$0.21 | -$0.12 | +42.9% | — | $24.2M | — |
| Q4 25 | -$0.2 | -$0.22 | -10.0% | — | $30.8M | — |
| Q3 25 | -$0.19 | -$0.2 | -5.3% | — | $22.6M | — |
| Q2 25 | -$0.2 | -$0.2 | 0.0% | — | $15K | — |
| Q1 25 | -$0.19 | -$0.2 | -5.3% | — | $0 | — |
| Q4 24 | -$0.19 | -$0.19 | 0.0% | — | $55K | — |
| Q3 24 | -$0.19 | -$0.21 | -10.5% | — | $28K | — |
| Q2 24 | -$0.18 | -$0.18 | 0.0% | — | $28K | — |
| Q1 24 | -$0.17 | -$0.14 | +17.6% | — | $25K | — |
| Q4 23 | -$0.18 | -$0.17 | +5.6% | — | $1M | — |
| Q3 23 | -$0.17 | -$0.17 | 0.0% | — | $0 | — |
| Q2 23 | -$0.15 | -$0.45 | -200.0% | — | $0 | — |
| Q1 23 | -$0.14 | -$0.19 | -35.7% | — | $0 | — |
| Q4 22 | -$0.16 | -$0.11 | +31.3% | — | $0 | — |
| Q3 22 | -$0.15 | -$0.14 | +6.7% | — | $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 | — | -$1.13 | — | — | $53.4M | — |
| FY24 | — | -$0.87 | — | — | $136K | — |
| FY23 | — | -$0.79 | — | — | $1M | — |
| FY22 | — | -$0.44 | — | — | $0 | — |
| FY21 | — | -$0.61 | — |
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 | $1M | $136K | $53.4M |
| YoY change | — | 0% | 0% | +InfinityT% | -86.8% | +39.2K% |
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 |
|---|
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 | 1M | 136K | 53.4M |
| Cost of revenue | — | 0 | 0 | 200K | 67K | 29.3M |
| Gross profit | — | 0 | 0 | 832K | 69K | 24.1M |
| Gross margin | — | — | — | 80.6% | 50.7% | 45.1% |
| Research & development | 108.7M | 197.6M | 296.3M | 367M | 477.2M | 581.1M |
| Selling, general & administrative | 23.5M | 61.5M | 95.9M | 105.9M | 119.7M | 162.6M |
| Operating expenses | 132.2M | 259.1M | 392.2M | 472.9M | 596.8M | 743.7M |
| Operating income | -132.2M | -259.1M | -392.2M | -472.1M | -596.8M | -719.6M |
| Operating margin | — | — | — | -45.7K% | -438.8K% | -1.3K% |
| Non-operating income, net | 12.7M | 69.5M | 117.5M | -86.4M | -54M | -252.1M |
| Pretax income | -114.1M | -190.9M | -258M | -512.9M | -607.9M | -928.5M |
| Income tax | 31K | -10.5M | 92K | 139K | 129K | 1.3M |
| Net income | -114.2M | -180.3M | -258M | -513M | -608M | -929.8M |
| Net margin | — | — | — | -49.7K% | -447.1K% | -1.7K% |
| EBITDA | -113.4M | -213.7M | -466.2M | -355.2M | -507.2M | -427.3M |
| EPS | -0.19 | -0.61 | -0.44 | -0.79 | -0.87 | -1.13 |
| Diluted EPS | -0.19 | -0.61 | -0.44 | -0.79 | -0.87 | -1.13 |
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 | 1M | 25K | 28K | 28K | 55K | 0 | 15K | 22.6M | 30.8M | 24.2M | 38.6M |
| Cost of revenue | 0 | — | 15K | 15K | 15K | 22K | 0 | 10K | 10.1M | 19.3M | 18.8M | 28.3M |
| Gross profit | 0 | — | 10K | 13K | 13K | 33K | 0 | 5K | 12.5M | 11.6M | 5.4M | 10.3M |
| Gross margin | — | — | 40% | 46.4% | 46.4% | 60% | — | 33.3% | 55.4% | 37.5% | 22.4% | 26.8% |
| Research & development | 100.6M | 102.1M | 115.6M | 113M | 126.1M | 122.4M | 134.3M | 136.4M | 149.2M | 161.3M | 177.5M | 194.7M |
| Selling, general & administrative | 27.6M | 27M | 30.3M | 31.3M | 30.6M | 27.5M | 29M | 31.5M | 45M | 57.1M | 61.6M | 76.6M |
| Operating expenses | 128.2M | 129.1M | 145.9M | 144.3M | 156.7M | 149.9M | 163.3M | 167.9M | 194.2M | 218.4M | 239M | 271.2M |
| Operating income | -128.2M | -128.2M | -145.9M | -144.3M | -156.7M | -149.9M | -163.3M | -167.9M | -181.7M | -206.8M | -233.6M | -260.9M |
| Operating margin | — | -12.4K% | -583.6K% | -515.3K% | -559.6K% | -272.5K% | — | -1.1M% | -804.8% | -670.6% | -963.4% | -675.2% |
| Non-operating income, net | 116.1M | 293K | 39M | 9.8M | 3.8M | -106.7M | 71M | -166.6M | -229.1M | 72.6M | 106M | -3.3M |
| Pretax income | 1.6M | -115.1M | -94.6M | -123.3M | -143.3M | -246.7M | -82.4M | -324.6M | -401.1M | -120.5M | -109.8M | -245.3M |
| Income tax | 28K | 21K | 36K | 10K | 553K | -470K | 40K | 106K | 83K | 1.1M | 168K | 142K |
| Net income | 1.5M | -115.1M | -94.6M | -123.3M | -143.9M | -246.3M | -82.4M | -324.7M | -401.2M | -121.5M | -110M | -245.4M |
| Net margin | — | -11.2K% | -378.3K% | -440.3K% | -513.9K% | -447.8K% | — | -2.2M% | -1.8K% | -394.1% | -453.5% | -635.2% |
| EBITDA | -236.4M | -120.4M | -176.4M | -145.4M | -151.6M | -33.7M | -225.2M | 8.4M | 57.7M | -268.3M | -328.6M | -245.7M |
| EPS | 0 | — | -0.14 | -0.18 | -0.21 | — | -0.11 | -0.41 | -0.48 | -0.14 | -0.12 | -0.25 |
| Diluted EPS | 0 | — | -0.14 | -0.18 | -0.21 | — | -0.11 | -0.41 | -0.48 | -0.14 | -0.12 | -0.25 |
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 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| Market cap | 7B | — | — | — | 5.7B | — | 6.1B |
| Enterprise value | 6.5B | — | — | — | 4.8B | — | 4.7B |
| Shares outstanding | 603.9M | 294.9M | 585.5M | 647.9M | 699.8M | 826.2M | 826.2M |
| Metric | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| P/E | — | — | — | — | — | — | -5.4 |
| P/S | — | — | — | — | 41.8K | — | 54.1 |
| P/B | -24.7 | — | — | — | 6.24 | — | 3.53 |
| EV/EBITDA | -57.7 | — | — | — | -9.44 | — | -5.64 |
| EV/Sales | — | — | — | — | 35.2K | — | 40.7 |
| Earnings yield | — | — | — | — | — | — | -18.5% |
| FCF yield | -1.86% | — | — | — | -8.38% | — | -7.17% |
| PEG | — | — | — | — | — | — | 0.14 |
| Metric | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| Gross margin | — | — | — | 80.6% | 50.7% | 45.1% | 26.8% |
| Operating margin | — | — | — | -45.7K% | -438.8K% | -1.3K% | -675.2% |
| Net margin | — | — | — | -49.7K% | -447.1K% | -1.7K% | 45.1% |
| ROE | 40.3% | -13.7% | -22.2% | -49.6% | -66.6% | -66% | -65.9% |
| ROA | -23% | -12.1% | -20% | -40.4% | -50.5% | -51.8% | -27.5% |
| ROIC | 18.2% | -1.3K% | -289.9% | -1.4K% | -5.6K% | -1.9K% | -352.3% |
| Return on tangible assets | -23% | -12.5% | -20.8% | -41.8% | -52.5% | -58.9% | -34.6% |
| Metric | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| Current ratio | 56.4 | 95.2 | 35.9 | 23.4 | 20.1 | 24.1 | 18 |
| Quick ratio | 56.4 | 95.2 | 35.9 | 23.4 | 20.1 | 24.1 | 18 |
| Debt / equity | -0.01 | 0 | 0.02 | 0.03 | 0.03 | 0.03 | 0.42 |
| Debt / assets | 0.01 | 0 | 0.02 | 0.02 | 0.03 | 0.02 | 0.27 |
| Net debt / EBITDA | 3.91 | 6.07 | 2.21 | 2.82 | 1.78 | 3.21 | 1.93 |
| Interest coverage | -457.4 | -148.3 | -3.3K | — | — | — | — |
| Effective tax rate | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Metric | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| Revenue per share | 0 | 0 | 0 | 0 | 0 | 0.06 | 0.13 |
| EPS (basic) | -0.19 | -0.61 | -0.44 | -0.79 | -0.87 | -1.13 | -1.13 |
| EPS (diluted) | -0.19 | -0.61 | -0.44 | -0.79 | -0.87 | -1.13 | -0.98 |
| Book value per share | -0.47 | 4.47 | 1.99 | 1.6 | 1.3 | 1.71 | 1.79 |
| FCF per share | -0.21 | -0.77 | -0.5 | -0.53 | -0.68 | -0.68 | -0.77 |
| Cash per share | 0.74 | 4.4 | 1.8 | 1.59 | 1.33 | 1.7 | 2.29 |
| Capex per share | 0.04 | 0.11 | 0.09 | 0.05 | 0.06 | — | — |
| Metric | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| Capex / revenue | — | — | — | 3K% | 29.9K% | — | — |
| Capex / operating cash flow | -25.1% | -26.8% | -48.5% | -8.05% | -8.56% | — | — |
| Payout ratio | — | — | — | — | — | — | 0% |
| — |
| $0 |
| — |
| FY20 | — | -$0.19 | — | — | $0 | — |
| Q1 25 |
|---|
| Q2 25 |
|---|
| Q3 25 |
|---|
| Q4 25 |
|---|
| Q1 26 |
|---|
| Q2 26 |
|---|
| Revenue | $0 | $1M | $25K | $28K | $28K | $55K | $0 | $15K | $22.6M | $30.8M | $24.2M | $38.6M |
| YoY change | 0% | +InfinityT% | +InfinityT% | +InfinityT% | +InfinityT% | -94.7% | -100% | -46.4% | +80.5K% | +56K% | +InfinityT% | +257.5K% |
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 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|
| Cash & short-term investments | 445.9M | 1.3B | 1.1B | 1B | 932.9M | 1.4B |
| Receivables | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — |
| Total current assets | 451.2M | 1.3B | 1.1B | 1.1B | 969.6M | 1.4B |
| Property, plant & equipment | 33.9M | 52M | 94.3M | 108.7M | 125M | 151.1M |
| Goodwill & intangibles | 0 | 50.5M | 53.2M | 41.2M | 44.9M | 216.6M |
| Total assets | 497.3M | 1.5B | 1.3B | 1.3B | 1.2B | 1.8B |
| Accounts payable | 4.9M | 3.6M | 7.7M | 3M | 4.3M | 3.6M |
| Short-term debt | 1M | 1M | 3.7M | 4.3M | 5M | 10.7M |
| Total current liabilities | 8M | 13.8M | 30.2M | 45.1M | 48.1M | 60M |
| Long-term debt | 1.6M | 1.4M | 23.6M | 26.3M | 26.2M | 26.2M |
| Total liabilities | 780.4M | 171.6M | 128.2M | 235.1M | 291.1M | 385.4M |
| Shareholders' equity | -283.2M | 1.3B | 1.2B | 1B | 912.4M | 1.4B |
| Total debt | 2.6M | 2.4M | 27.3M | 30.7M | 31.2M | 36.8M |
| Net debt | -74.7M | -953.2M | -118.8M | -173.4M | -168.4M | -204M |
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 | 1.1B | 1B | 923.9M | 825M | 710M | 932.9M | 812.5M | 991M | 978.1M | 1.4B | 2.5B | 2.3B |
| Receivables | — | — | — | — | — | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current assets | 1.1B | 1.1B | 951.7M | 857.7M | 737.8M | 969.6M | 841.5M | 1B | 1B | 1.4B | 2.5B | 2.3B |
| Property, plant & equipment | 105.1M | 108.7M | 108.2M | 108.8M | 116.5M | 125M | 134.1M | 138M | 148.2M | 151.1M | 164.9M | 151.3M |
| Goodwill & intangibles | 44M | 41.2M | 38M | 50.6M | 47.8M | 44.9M | 42.5M | 40M | 222.8M | 216.6M | 219.5M | 215.1M |
| Total assets | 1.3B | 1.3B | 1.2B | 1.1B | 964.3M | 1.2B | 1.1B | 1.3B | 1.4B | 1.8B | 2.9B | 2.8B |
| Accounts payable | 4.8M | 3M | 3.7M | 5.3M | 4.9M | 4.3M | 4.9M | 4.5M | 13.4M | 3.6M | 7.9M | 8.3M |
| Short-term debt | 4M | 4.3M | 4.5M | 4.7M | 4.8M | 5M | 5.4M | 5.6M | 10.6M | 10.7M | 12.4M | 12.3M |
| Total current liabilities | 50M | 45.1M | 38.2M | 43.2M | 45.8M | 48.1M | 47.5M | 58.9M | 74.9M | 60M | 113.9M | 128.9M |
| Long-term debt | 26M | 26.3M | 26.5M | 25.4M | 26.9M | 26.2M | 26.2M | 25.3M | 35M | 26.2M | 735.4M | 735.4M |
| Total liabilities | 240.3M | 235.1M | 189.2M | 183.2M | 183.2M | 291.1M | 224.6M | 361.6M | 469.9M | 385.4M | 969.9M | 985.5M |
| Shareholders' equity | 1.1B | 1B | 975.1M | 894.6M | 781M | 912.4M | 859.4M | 898.3M | 896.5M | 1.4B | 2B | 1.8B |
| Total debt | 30M | 30.7M | 31M | 30.1M | 31.7M | 31.2M | 31.6M | 30.9M | 45.6M | 36.8M | 747.7M | 747.7M |
| Net debt | -450.4M | -173.4M | -79.5M | -145M | -120.6M | -168.4M | -90.7M | -305.4M | -162.8M | -204M | -126.8M | 117.9M |
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 | -114.2M | -180.3M | -258M | -513M | -608M | -929.8M |
| Depreciation & amortization | 7.4M | 15.9M | 24M | 30.5M | 35.6M | 40.2M |
| Stock-based compensation | 7.2M | 26.9M | 69.1M | 93.6M | 104.4M | 127.9M |
| Change in working capital | 5.2M | 5.1M | 51.8M | 8.9M | -6.4M | 7.6M |
| Operating cash flow | -94.4M | -120.8M | -113.2M | -380M | -474.4M | -509.9M |
| Capital expenditure | -23.7M | -32.3M | -54.9M | -30.6M | -40.6M | — |
| Investing cash flow | -393.2M | -18.7M | -630.8M | 80.3M | 70.8M | -421.5M |
| Dividends paid | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — |
| Financing cash flow | 68.9M | 1.1B | 59M | 279.3M | 359.5M | 989.9M |
| Net change in cash | -418.7M | 951.8M | -685M | -20.4M | -44.2M | 58.5M |
| Free cash flow | -129.6M | -228.1M | -290.8M | -344.4M | -476.9M | -563.8M |
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 | 1.5M | -115.1M | -94.6M | -123.3M | -143.9M | -246.3M | -82.4M | -324.7M | -401.2M | -121.5M | -110M | -245.4M |
| Depreciation & amortization | 7.8M | 8.1M | 8.5M | 8.7M | 8.9M | 9.5M | 9.1M | 9.8M | 10.2M | 11.1M | 11M | 11.9M |
| Stock-based compensation | 27.3M | 23.9M | 27M | 28.4M | 27.4M | 21.7M | 27M | 26.6M | 73.1M | 1.2M | 44M | 52M |
| Change in working capital | 4.1M | 5.8M | -4.3M | -3.4M | 4.9M | -9.7M | 8.5M | 6.1M | -5M | 4.9M | -32.9M | -5.3M |
| Operating cash flow | 40.7M | -77.3M | -63.4M | -89.7M | -102.7M | -224.8M | -37.7M | -106.6M | -139.2M | -153.2M | -144.4M | -173.1M |
| Capital expenditure | -8.6M | -7.9M | -6.9M | -8.5M | -9.9M | -15.4M | -15M | — | — | — | — | — |
| Investing cash flow | 177.9M | -196.4M | 12.6M | 158.6M | 88.1M | -188.6M | 31.6M | 36.7M | -110M | -398.2M | -427.6M | -45.2M |
| Dividends paid | — | — | — | — | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — | — | — | — | — |
| Financing cash flow | -403K | -67K | -472K | -478K | -834K | 375.9M | 1.5M | 290.5M | 100.6M | 597.3M | 1.2B | -677K |
| Net change in cash | 218.2M | -273.8M | -51.2M | 68.5M | -15.4M | -37.6M | -4.6M | 220.6M | -148.7M | 45.9M | 641M | -219M |
| Free cash flow | -88.8M | -91.2M | -113.5M | -107.3M | -120.2M | -135.9M | -125.9M | -118.7M | -152.2M | -167M | -222.4M | -201.8M |