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 | $0.38 | $1.1 | +189.5% | — | $4.9B | — |
| Q1 26 | $1.1 | $2.07 | +88.2% | — | $4.6B | — |
| Q4 25 | -$0.92 | -$1.24 | -34.8% | — | $2.8B | — |
| Q2 25 | -$0.84 | -$0.89 | -6.0% | — | $2.9B | — |
| Q1 25 | $0.81 | $0.92 | +13.6% | — | $3B | — |
| Q4 24 | -$0.58 | -$0.62 | -6.9% | — | $2.4B | — |
| Q3 24 | -$0.18 | -$0.22 | -22.2% | — | $2.4B | — |
| Q2 24 | $0.16 | $0.2 | +25.0% | — | $2.2B | — |
| Q1 24 | $0.27 | $0.62 | +129.6% | — | $2.1B | — |
| Q4 23 | -$0.7 | -$0.66 | +5.7% | — | $1.4B | — |
| Q3 23 | -$0.47 | -$0.29 | +38.3% | — | $1.4B | — |
| Q2 23 | -$0.23 | -$0.07 | +69.6% | — | $1.5B | — |
| Q1 23 | -$0.05 | -$0.18 | -260.0% | — | $1.5B | — |
| Q4 22 | -$1.16 | -$1.05 | +9.5% | — | $1B | — |
| Q3 22 | -$0.73 | -$0.91 | -24.7% | — | $1B | — |
| Q2 22 | -$0.48 | -$0.53 | -10.4% | — | $1.1B | — |
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 | — | -$1.69 | — | — | $11.7B | — |
| FY24 | — | $0.1 | — | — | $9.2B | — |
| FY23 | — | -$1.22 | — | — | $5.9B | — |
| FY22 | — | -$2.85 | — | — | $4.1B | — |
| FY21 | — | -$3.2 |
Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.
| Period | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|
| Revenue | $553.8M | $589.6M | $1.9B | $4.1B | $5.9B | $9.2B | $11.7B |
| YoY change | — | +6.48% | +225.8% | +114.8% | +42.1% | +56.6% | +27.5% |
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 |
|---|
Revenue, gross profit, operating income, and net income per period.
Click a row to chart it; unreported figures show a dash.
| Period | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|
| Revenue | 553.8M | 589.6M | 1.9B | 4.1B | 5.9B | 9.2B | 11.7B |
| Cost of revenue | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — |
| Research & development | — | — | — | — | — | — | — |
| Selling, general & administrative | 110.7M | 166.7M | 265.1M | 309.8M | 339.7M | 1.8B | 2B |
| Operating expenses | 158.9M | 248.1M | 405.4M | 588.9M | 637.5M | 1.8B | 2.1B |
| Operating income | — | — | — | — | — | — | — |
| Operating margin | — | — | — | — | — | — | — |
| Non-operating income, net | 1.1M | 1.1M | 5.3M | 3.9M | — | — | 28.6M |
| Pretax income | -259.4M | -405.8M | -570.6M | -610.1M | -267.3M | 33.4M | -437.3M |
| Income tax | 1.8M | 1M | 846K | -523K | 3.3M | 7.3M | 5.6M |
| Net income | -261.2M | -406.8M | -571.4M | -609.6M | -270.6M | 26.1M | -442.9M |
| Net margin | -47.2% | -69% | -29.7% | -14.8% | -4.62% | 0.28% | -3.79% |
| EBITDA | — | — | — | — | — | — | — |
| EPS | -8.93 | -14.2 | -3.2 | -2.85 | -1.22 | 0.1 | -1.69 |
| Diluted EPS | -8.93 | -14.2 | -3.2 | -2.85 | -1.22 | 0.1 | -1.69 |
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 | 1.4B | 1.4B | 2.1B | 2.2B | 2.4B | 2.4B | 3B | 2.9B | 3B | 2.8B | 4.6B | 4.9B |
| Cost of revenue | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — | — | — | — | — | — |
| Research & development | — | — | — | — | — | — | — | — | — | — | — | — |
| Selling, general & administrative | 325.8M | 85.6M | 394.7M | 435.1M | 459.5M | 466.6M | 482.8M | 534.5M | 521.6M | 511M | 160.1M | 176.9M |
| Operating expenses | 326.2M | 158.9M | 395.9M | 436M | 457.6M | 466.5M | 485.7M | 531.7M | 524.8M | 531.1M | 356.5M | 365.6M |
| Operating income | — | — | — | — | — | — | — | — | — | — | — | — |
| Operating margin | — | — | — | — | — | — | — | — | — | — | — | — |
| Non-operating income, net | — | — | — | — | — | — | — | — | — | — | — | — |
| Pretax income | -64.8M | -150.6M | 178.5M | 60.9M | -52.3M | -153.7M | 288.2M | -233.5M | -139.3M | -352.7M | 698.8M | 383M |
| Income tax | 915K | -806K | 996K | 4.6M | 2.1M | -404K | 12.7M | -5M | -1.8M | -247K | 19.8M | 21.2M |
| Net income | -65.7M | -149.8M | 177.5M | 56.3M | -54.4M | -153.3M | 275.5M | -228.5M | -137.5M | -352.4M | 679M | 361.8M |
| Net margin | -4.56% | -10.5% | 8.28% | 2.54% | -2.24% | -6.41% | 9.04% | -7.98% | -4.6% | -12.6% | 14.6% | 7.41% |
| EBITDA | — | — | — | — | — | — | — | — | — | — | — | — |
| EPS | -0.29 | -0.66 | 0.77 | 0.24 | -0.22 | -0.62 | 1.1 | -0.89 | -0.53 | -1.24 | 2.28 | 1.2 |
| Diluted EPS | -0.29 | -0.66 | 0.62 | 0.2 | -0.22 | -0.62 | 0.92 | -0.89 | -0.53 | -1.24 | 2.07 | 1.1 |
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 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| Market cap | — | — | — | — | 2B | — | 3.8B | 9.2B |
| Enterprise value | — | — | — | — | -233.2M | — | 210M | 1.1B |
| Shares outstanding | 29.3M | 29.3M | 179M | 212.5M | 221.7M | 265.9M | 262.4M | 262.4M |
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| P/E | — | — | — | — | — | — | — | 22.8 |
| P/S | — | — | — | — | 0.35 | — | 0.32 | 0.6 |
| P/B | — | — | — | — | 2.52 | — | 3.84 | 4.45 |
| EV/EBITDA | — | — | — | — | — | — | — | 1.63 |
| EV/Sales | — | — | — | — | -0.04 | — | 0.02 | 0.07 |
| Earnings yield | — | — | — | — | — | — | — | 4.38% |
| FCF yield | — | — | — | — | -14.7% | — | 28.1% | 7.57% |
| PEG | — | — | — | — | — | — | — | -0.1 |
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| Operating margin | — | — | — | — | — | — | — | 7.96% |
| Net margin | -47.2% | -69% | -29.7% | -14.8% | -4.62% | 0.28% | -3.79% | 3.6% |
| ROE | 27.6% | 31.4% | -41% | -68.3% | -33.6% | 2.57% | -45.2% | 34.3% |
| ROA | — | — | — | — | — | 0.54% | -7% | 4.47% |
| Return on tangible assets | — | — | — | — | — | 0.54% | -7% | 4.91% |
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| Current ratio | — | — | — | — | — | — | — | 1.08 |
| Debt / equity | — | -0.11 | — | 0.33 | 0.37 | 0.29 | 0.44 | 0.23 |
| Debt / assets | — | — | — | — | — | 0.06 | 0.07 | 0.04 |
| Net debt / EBITDA | — | — | — | — | — | — | — | -12.3 |
| Interest coverage | — | -114.5 | -119.9 | -26 | -9.86 | 2.41 | -23.8 | 33.6 |
| Effective tax rate | 0% | 0% | 0% | 0% | 0% | 21.9% | 0% | 6.59% |
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| Revenue per share | 18.9 | 20.1 | 10.7 | 19.4 | 26.4 | 34.5 | 44.6 | 53.6 |
| EPS (basic) | -8.93 | -14.2 | -3.2 | -2.85 | -1.22 | 0.1 | -1.69 | -1.69 |
| EPS (diluted) | -8.93 | -14.2 | -3.2 | -2.85 | -1.22 | 0.1 | -1.69 | 1.3 |
| Book value per share | -32.3 | -44.3 | 7.78 | 4.2 | 3.64 | 3.82 | 3.74 | 6.66 |
| FCF per share | -6.54 | 7.13 | -1.16 | 1.65 | -1.34 | 3.57 | 4.03 | 13.1 |
| Cash per share | 22.9 | 40.8 | 9.45 | 13.9 | 11.6 | 8.09 | 15.2 | 27.7 |
| Capex per share | 0.89 | 0.48 | 0.14 | 0.14 | 0.12 | 0.1 | — | — |
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| Capex / revenue | 4.69% | 2.38% | 1.35% | 0.7% | 0.44% | 0.3% | — | — |
| Capex / operating cash flow | -8.55% | -2.93% | -5.82% | -3.79% | 15.1% | 36.1% | — | — |
| Payout ratio | — | — | — | — | — | — | — | 0% |
| — |
| — |
| $1.9B |
| — |
| FY20 | — | -$14.2 | — | — | $589.6M | — |
| FY19 | — | -$8.93 | — | — | $553.8M | — |
| Q1 24 |
|---|
| Q2 24 |
|---|
| Q3 24 |
|---|
| Q4 24 |
|---|
| Q1 25 |
|---|
| Q2 25 |
|---|
| Q3 25 |
|---|
| Q4 25 |
|---|
| Q1 26 |
|---|
| Q2 26 |
|---|
| Revenue | $1.4B | $1.4B | $2.1B | $2.2B | $2.4B | $2.4B | $3B | $2.9B | $3B | $2.8B | $4.6B | $4.9B |
| YoY change | +41.4% | +38% | +45.8% | +45.8% | +68.3% | +67.1% | +42.2% | +29% | +23.2% | +17.2% | +52.6% | +70.4% |
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 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|
| Cash & short-term investments | 670.4M | 1.2B | 1.7B | 3B | 2.6B | 2.2B | 4B |
| Receivables | 30.1M | 65.3M | 570.4M | 1.1B | 442.5M | 607.4M | 542.4M |
| Inventory | — | — | — | — | — | — | — |
| Total current assets | — | — | — | — | — | — | — |
| Property, plant & equipment | — | — | — | — | — | — | — |
| Goodwill & intangibles | — | — | — | — | — | — | — |
| Total assets | — | — | — | — | — | 4.8B | 6.3B |
| Accounts payable | 589.1M | 655.2M | 718.8M | 1.4B | 1B | 1.4B | 1.5B |
| Short-term debt | — | — | — | — | — | — | — |
| Total current liabilities | — | — | — | — | — | — | — |
| Long-term debt | — | 142.5M | — | 298M | 298.8M | 299.6M | 430.1M |
| Total liabilities | — | — | — | — | — | 3.8B | 5.3B |
| Shareholders' equity | -945.1M | -1.3B | 1.4B | 892.4M | 806.1M | 1B | 980.7M |
| Total debt | — | 142.5M | — | 298M | 298.8M | 299.6M | 430.1M |
| Net debt | — | -683.8M | — | -1.3B | -1.6B | -1.2B | -2.3B |
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 | 1.4B | 1.9B | 2.2B | 2.3B | 1.2B | 1.5B | 2.2B | 2.6B | 3B | 4B | 6.8B | 8.6B |
| Receivables | — | — | — | — | — | — | — | — | 604.9M | 542.4M | 951.7M | 757.4M |
| Inventory | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current assets | — | — | — | — | — | — | — | — | — | — | — | — |
| Property, plant & equipment | — | — | — | — | — | — | — | — | — | — | — | — |
| Goodwill & intangibles | — | — | — | — | — | — | — | — | — | — | — | — |
| Total assets | — | — | — | — | — | — | — | — | 5.7B | 6.3B | 9.3B | 11.2B |
| Accounts payable | — | — | — | — | — | — | — | — | 1.6B | 1.5B | 6.5B | 8B |
| Short-term debt | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current liabilities | — | — | — | — | — | — | — | — | — | — | — | — |
| Long-term debt | — | — | — | — | — | — | — | — | 686.3M | 430.1M | 430.9M | 431.6M |
| Total liabilities | — | — | — | — | — | — | — | — | 4.7B | 5.3B | 7.6B | 9.2B |
| Shareholders' equity | — | — | — | — | — | — | — | — | 1B | 980.7M | 1.7B | 2.1B |
| Total debt | — | — | — | — | — | — | — | — | 686.3M | 430.1M | 430.9M | 431.6M |
| Net debt | — | — | — | — | — | — | — | — | -1.5B | -2.3B | -4.4B | -3.6B |
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 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|
| Net income | -261.2M | -406.8M | -571.4M | -609.6M | -270.6M | 26.1M | -442.9M |
| Depreciation & amortization | — | — | — | — | — | — | — |
| Stock-based compensation | 33.6M | 35.9M | 86.3M | 112.3M | 159.7M | 109.8M | 87.7M |
| Change in working capital | -69.2M | -115.8M | 20.2M | -271.2M | 251.7M | -56M | 239.2M |
| Operating cash flow | -303.9M | -479.1M | -444.9M | -765.6M | 169.5M | 77.3M | 1.1B |
| Capital expenditure | -26M | -14M | -25.9M | -29M | -25.6M | -27.9M | — |
| Investing cash flow | 150.5M | -344.7M | -774.5M | -226.5M | 577.2M | -1.4B | -204.7M |
| Dividends paid | — | — | — | — | — | — | — |
| Share repurchases | -3M | 0 | 0 | — | — | — | — |
| Financing cash flow | -3M | 517.8M | 1.2B | 299.8M | 2.5M | 0 | 344.2M |
| Net change in cash | -156.4M | -306M | -39.4M | -692.3M | 749.2M | -1.3B | 1.2B |
| Free cash flow | -191.4M | 208.7M | -207.6M | 351.3M | -297.7M | 950.3M | 1.1B |
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 | — | — | — | — | — | — | — | — | -137.5M | -352.4M | 679M | 361.8M |
| Depreciation & amortization | — | — | — | — | — | — | — | — | — | — | — | — |
| Stock-based compensation | — | — | — | — | — | — | — | — | 20.5M | 18.1M | 16M | 20.7M |
| Change in working capital | — | — | — | — | — | — | — | — | -976.9M | 191.9M | 1.6B | 1.5B |
| Operating cash flow | — | — | — | — | — | — | — | — | -964.7M | 671.9M | 2.6B | 2.1B |
| Capital expenditure | — | — | — | — | — | — | — | — | — | — | — | — |
| Investing cash flow | — | — | — | — | — | — | — | — | 159.1M | -39.6M | -581.5M | -2.8B |
| Dividends paid | — | — | — | — | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — | — | — | — | — |
| Financing cash flow | — | — | — | — | — | — | — | — | -58.9M | -4.7M | -4.7M | -15.5M |
| Net change in cash | — | — | — | — | — | — | — | — | -864.4M | 627.6M | 2B | -746M |
| Free cash flow | — | — | — | — | — | — | — | — | -973.7M | 662.8M | 2.6B | 2.1B |