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 | -$0.18 | -$0.16 | +11.1% | — | $0 | — |
| Q1 26 | -$0.16 | -$0.16 | 0.0% | — | $0 | — |
| Q4 25 | -$0.17 | -$0.17 | 0.0% | — | $0 | — |
| Q3 25 | -$0.2 | -$0.18 | +10.0% | — | $0 | — |
| Q2 25 | -$0.18 | -$0.2 | -11.1% | — | $0 | — |
| Q1 25 | -$0.19 | -$0.21 | -10.5% | — | $0 | — |
| Q4 24 | -$0.21 | -$0.22 | -4.8% | — | $0 | — |
| Q3 24 | -$0.19 | -$0.23 | -21.1% | — | $0 | — |
| Q2 24 | -$0.18 | -$0.25 | -38.9% | — | $0 | — |
| Q1 24 | -$0.19 | -$0.19 | 0.0% | — | $0 | — |
| Q4 23 | -$0.2 | -$0.23 | -15.0% | — | $0 | — |
| Q3 23 | -$0.3 | -$0.23 | +23.3% | — | $0 | — |
| Q2 23 | -$0.2 | -$0.26 | -30.0% | — | $0 | — |
| Q1 23 | -$0.2 | -$0.24 | -20.0% | — | $0 | — |
| Q4 22 | -$0.21 | -$0.25 | -19.0% | — | $0 | — |
| Q3 22 | -$0.21 | -$0.27 | -28.6% | — | $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 | — | -$0.76 | — | — | $0 | — |
| FY24 | — | -$0.94 | — | — | $0 | — |
| FY23 | — | -$0.16 | — | — | $0 | — |
| FY22 | — | -$0.95 | — | — | $0 | — |
| FY21 | — | -$0.11 |
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 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| YoY change | — | 0% | 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 |
|---|
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 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cost of revenue | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — |
| Research & development | 45.9M | 65.1M | 151.5M | 297.4M | 347.9M | 383M | 375.6M |
| Selling, general & administrative | 9.9M | 15.9M | 63.8M | 123.2M | 131.1M | 142.2M | 97M |
| Operating expenses | 55.8M | 81M | 215.3M | 420.6M | 479M | 525.2M | 472.6M |
| Operating income | -55.8M | -81M | -215.3M | -420.6M | -479M | -525.2M | -472.6M |
| Operating margin | — | — | — | — | — | — | — |
| Non-operating income, net | 1M | -1.6B | 168.8M | 216K | -160K | 3.5M | 2.5M |
| Pretax income | -51.3M | -1.7B | -46M | -411.9M | -445.1M | -477.9M | -433.5M |
| Income tax | — | — | — | — | — | — | 1.5M |
| Net income | -51.3M | -1.7B | -46M | -411.9M | -445.1M | -477.9M | -435.1M |
| Net margin | — | — | — | — | — | — | — |
| EBITDA | -45.3M | -1.1B | -198.5M | -373.4M | -393M | -409.9M | -358.2M |
| EPS | -0.21 | -4.36 | -0.11 | -0.95 | -0.16 | -0.94 | -0.76 |
| Diluted EPS | -0.21 | -4.36 | -0.52 | -0.95 | -0.16 | -0.94 | -0.76 |
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 | 88.2M | 96.4M | 83.8M | 97.7M | 97M | 104.4M | 95.6M | 101.2M | 92.1M | 86.8M | 84.6M | 82.5M |
| Selling, general & administrative | 32.7M | 28.2M | 48.1M | 36.7M | 33.2M | 24.3M | 28M | 22.4M | 22.9M | 23.7M | 24.6M | 23.6M |
| Operating expenses | 120.9M | 124.6M | 131.9M | 134.5M | 130.2M | 128.7M | 123.6M | 123.6M | 115M | 110.5M | 109.2M | 106.1M |
| Operating income | -120.9M | -124.6M | -131.9M | -134.5M | -130.2M | -128.7M | -123.6M | -123.6M | -115M | -110.5M | -109.2M | -106.1M |
| Operating margin | — | — | — | — | — | — | — | — | — | — | — | — |
| Non-operating income, net | 382K | -530K | -220K | 50K | -338K | 4M | -89K | 464K | -325K | 2.5M | -25K | 191K |
| Pretax income | -110.6M | -113.3M | -120.6M | -123M | -119.7M | -114.7M | -114.4M | -114.7M | -105.8M | -98.6M | -100.8M | -98M |
| Income tax | — | — | — | — | — | — | — | — | — | — | 7K | 193K |
| Net income | -110.6M | -113.3M | -120.6M | -123M | -119.7M | -114.7M | -114.4M | -114.7M | -105.8M | -100.1M | -100.8M | -98.2M |
| Net margin | — | — | — | — | — | — | — | — | — | — | — | — |
| EBITDA | -96.4M | -100M | -106.1M | -107.5M | -102.2M | -94.1M | -93.5M | -92.6M | -89.4M | -82.7M | -83M | -81.6M |
| EPS | -0.23 | -0.23 | -0.24 | -0.25 | -0.23 | -0.22 | -0.21 | -0.2 | -0.18 | -0.17 | -0.16 | -0.16 |
| Diluted EPS | -0.23 | -0.23 | -0.24 | -0.25 | -0.23 | -0.22 | -0.21 | -0.2 | -0.18 | -0.17 | -0.16 | -0.16 |
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 | — | 21.3B | — | 2.5B | 3B | — | — | 2.8B |
| Enterprise value | — | 20.3B | — | 1.5B | 2B | — | — | 2.2B |
| Shares outstanding | 239.8M | 252.1M | 404.3M | 433M | 424.7M | 508.1M | 576M | 576M |
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| P/E | — | — | — | — | — | — | — | -5.99 |
| P/B | — | 60.2 | — | 1.86 | 2.2 | — | — | 2.73 |
| EV/EBITDA | — | -19 | — | -4.01 | -5.04 | — | — | -5.65 |
| Earnings yield | — | — | — | — | — | — | — | -16.7% |
| FCF yield | — | -0.4% | — | -15.4% | -11% | — | — | -5.03% |
| PEG | — | — | — | — | — | — | — | 0.3 |
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| Operating margin | — | — | — | — | — | — | — | 0% |
| Net margin | — | — | — | — | — | — | — | 0% |
| ROE | -34.1% | -475.8% | -2.86% | -31.2% | -33.2% | -41.3% | -37.2% | -39.1% |
| ROA | -29.7% | -157.7% | -2.68% | -27.9% | -29.6% | -36.1% | -33.3% | -24.3% |
| ROIC | — | — | — | — | — | — | -175.6% | -175.6% |
| Return on tangible assets | -29.7% | -157.7% | -2.68% | -27.9% | -29.6% | -36.1% | -33.3% | -34.6% |
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| Current ratio | 18.2 | 81.7 | 47.8 | 22.9 | 19 | 14.2 | 15.9 | 18.4 |
| Quick ratio | 18.2 | 81.7 | 47.8 | 22.9 | 19 | 14.2 | 15.9 | 18.4 |
| Debt / equity | 0.09 | 0.04 | 0.05 | 0.08 | 0.08 | 0.08 | 0.06 | 0.06 |
| Debt / assets | 0.08 | 0.01 | 0.05 | 0.07 | 0.07 | 0.07 | 0.05 | 0.06 |
| Net debt / EBITDA | 2.57 | 0.92 | 6.9 | 2.56 | 2.47 | 1.99 | 2.51 | 2.35 |
| Interest coverage | -544.4 | -80 | -31.4 | -170.7 | -186.2 | -213.9 | -211.6 | -207 |
| Effective tax rate | — | — | — | — | — | — | 0% | 0% |
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| Revenue per share | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (basic) | -0.21 | -4.36 | -0.11 | -0.95 | -0.16 | -0.94 | -0.76 | -0.76 |
| EPS (diluted) | -0.21 | -4.36 | -0.52 | -0.95 | -0.16 | -0.94 | -0.76 | -0.67 |
| Book value per share | 0.63 | 1.4 | 3.98 | 3.05 | 3.16 | 2.28 | 2.03 | 1.69 |
| FCF per share | -0.22 | -0.34 | -0.63 | -0.87 | -0.76 | -0.66 | -0.48 | -0.44 |
| Cash per share | 0.54 | 3.96 | 3.58 | 2.45 | 2.52 | 1.79 | 1.69 | 1.39 |
| Capex per share | 0.04 | 0.1 | 0.31 | 0.37 | 0.2 | 0.12 | — | — |
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| Capex / operating cash flow | -25% | -3.68% | 314% | -66% | -35.9% | -22.8% | — | — |
| Payout ratio | — | — | — | — | — | — | — | 0% |
| — |
| — |
| $0 |
| — |
| FY20 | — | -$4.36 | — | — | $0 | — |
| FY19 | — | -$0.21 | — | — | $0 | — |
| 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 |
| 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 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|
| Cash & short-term investments | 129.9M | 997.6M | 1.4B | 1.1B | 1.1B | 910.8M | 970.8M |
| Receivables | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — |
| Total current assets | 131.2M | 1B | 1.5B | 1.1B | 1.1B | 922.3M | 981.6M |
| Property, plant & equipment | 38.4M | 55.4M | 234M | 384.7M | 394.2M | 373.7M | 304.9M |
| Goodwill & intangibles | — | — | — | — | — | — | — |
| Total assets | 172.4M | 1.1B | 1.7B | 1.5B | 1.5B | 1.3B | 1.3B |
| Accounts payable | 2.9M | 5.4M | 14.2M | 21.4M | 13M | 6.5M | 11.8M |
| Short-term debt | 1.1M | 1.2M | 1.2M | 4.9M | 7.9M | 8.8M | 8.2M |
| Total current liabilities | 7.2M | 12.3M | 30.6M | 46.8M | 57.1M | 64.9M | 61.5M |
| Long-term debt | 12.5M | 11.2M | 76.1M | 100.6M | 92.7M | 84.8M | 62.8M |
| Total liabilities | 22M | 713.3M | 107.1M | 155.9M | 161.8M | 164.5M | 139.2M |
| Shareholders' equity | 150.4M | 353.5M | 1.6B | 1.3B | 1.3B | 1.2B | 1.2B |
| Total debt | 13.5M | 12.5M | 77.4M | 105.4M | 100.6M | 93.5M | 71M |
| Net debt | -9.3M | -100.8M | -243.3M | -130M | -41.9M | -47.3M | -159.5M |
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 | 1.1B | 1.1B | 1B | 937.9M | 841M | 910.8M | 860.3M | 797.5M | 1B | 970.8M | 904.7M | 859M |
| Receivables | — | — | — | — | — | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current assets | 1.1B | 1.1B | 1B | 973.5M | 853.7M | 922.3M | 871.5M | 806.2M | 1B | 981.6M | 915.9M | 869.1M |
| Property, plant & equipment | 404.9M | 394.2M | 394.7M | 399.2M | 393.2M | 373.7M | 361.2M | 336M | 305.6M | 304.9M | 297.3M | 284M |
| Goodwill & intangibles | — | — | — | — | — | — | — | — | — | — | — | — |
| Total assets | 1.6B | 1.5B | 1.5B | 1.4B | 1.3B | 1.3B | 1.3B | 1.2B | 1.3B | 1.3B | 1.2B | 1.2B |
| Accounts payable | 9.6M | 13M | 11.5M | 15.2M | 9.6M | 6.5M | 7.8M | 6.5M | 6.4M | 11.8M | 7.4M | 6.3M |
| Short-term debt | 7.7M | 7.9M | 8.1M | 8.3M | 8.5M | 8.8M | 9M | 9.3M | 8.1M | 8.2M | 8.5M | 8.7M |
| Total current liabilities | 46.3M | 57.1M | 100.7M | 112.4M | 60.7M | 64.9M | 52.3M | 49.2M | 48M | 61.5M | 43.8M | 47.2M |
| Long-term debt | 94.7M | 92.7M | 90.6M | 89.2M | 87.1M | 84.8M | 82.5M | 80.1M | 64.9M | 62.8M | 60.7M | 58.4M |
| Total liabilities | 152.7M | 161.8M | 204.3M | 214.7M | 161.4M | 164.5M | 150.3M | 143.6M | 127.5M | 139.2M | 119.4M | 120.8M |
| Shareholders' equity | 1.4B | 1.3B | 1.3B | 1.2B | 1.1B | 1.2B | 1.1B | 1B | 1.2B | 1.2B | 1.1B | 1B |
| Total debt | 102.5M | 100.6M | 98.7M | 97.4M | 95.6M | 93.5M | 91.5M | 89.4M | 73M | 71M | 69.2M | 67.1M |
| Net debt | -148.4M | -41.9M | -93.7M | -98.9M | -79.1M | -47.3M | -62.1M | -83.1M | -152.8M | -159.5M | -75.9M | -65.8M |
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 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|
| Net income | -51.3M | -1.7B | -46M | -411.9M | -445.1M | -477.9M | -435.1M |
| Depreciation & amortization | 5.9M | 8.1M | 14.7M | 36.1M | 49.7M | 65.8M | 73.2M |
| Stock-based compensation | 6.8M | 17M | 52.2M | 127.1M | 166.3M | 144.7M | 127.5M |
| Change in working capital | -632K | 2.6M | 18.7M | 7.1M | -6.5M | -5.3M | -6.2M |
| Operating cash flow | -39.3M | -654.2M | 40.5M | -240.8M | -235.1M | -272.7M | -242.5M |
| Capital expenditure | -9.8M | -24.1M | -127.2M | -158.8M | -84.5M | -62.1M | — |
| Investing cash flow | 33.3M | -802.6M | -385.8M | 124.1M | -152.5M | 128.9M | 51.2M |
| Dividends paid | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — |
| Financing cash flow | 0 | 953.1M | 567.3M | -809K | 286.2M | 123.9M | 280.5M |
| Net change in cash | -6M | -503.7M | 222M | -117.4M | -101.5M | -19.9M | 89.2M |
| Free cash flow | -51.6M | -85.4M | -255.1M | -376.9M | -324.5M | -336.7M | -278.8M |
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 | — | — | — | — | — | — | — | — | -105.8M | -100.1M | -100.8M | -98.2M |
| Depreciation & amortization | — | — | — | — | — | — | — | — | 15.9M | 15.4M | 17.3M | 16M |
| Stock-based compensation | — | — | — | — | — | — | — | — | 29.2M | 31.3M | 30.5M | 27.3M |
| Change in working capital | — | — | — | — | — | — | — | — | -1.2M | -1M | -1.2M | -1.2M |
| Operating cash flow | -27K | -5K | 107K | -5K | 84K | -77K | 40K | -319K | -63.7M | -56.1M | -59.5M | -56.7M |
| Capital expenditure | — | — | — | — | — | — | — | — | — | — | — | — |
| Investing cash flow | — | — | — | — | — | — | — | — | -147.6M | 43M | -15.7M | 36.7M |
| Dividends paid | — | — | — | — | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — | — | — | — | — |
| Financing cash flow | — | — | — | — | — | — | — | — | 262.7M | 18.6M | -870K | -882K |
| Net change in cash | -27K | -5K | 107K | -5K | 84K | -77K | 40K | -319K | 51.3M | 5.4M | -76.1M | -20.9M |
| Free cash flow | — | — | — | — | — | — | — | — | -73.3M | -68.4M | -69.5M | -61.4M |