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 | $0.96 | $1.25 | +30.2% | — | $804.9M | — |
| Q1 26 | $0.56 | $1.01 | +80.4% | — | $663.4M | — |
| Q3 25 | $0.52 | $0.8 | +53.8% | — | $584.9M | — |
| Q2 25 | $0.19 | $0.45 | +136.8% | — | $499.6M | — |
| Q1 25 | $0.01 | $0.13 | +1200.0% | — | $392.4M | — |
| Q4 24 | $0.25 | $0.36 | +44.0% | — | $427.7M | — |
| Q3 24 | -$0.07 | $0.16 | +328.6% | — | $348.4M | — |
| Q2 24 | -$0.3 | -$0.06 | +80.0% | — | $281.2M | — |
| Q1 24 | -$8.72 | -$8.19 | +6.1% | — | $243M | — |
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 | — | $2.84 | — | — | $2.2B | — |
| FY24 | — | -$3.33 | — | — | $1.3B | — |
| FY23 | — | -$0.57 | — | — | $804M | — |
| FY22 | — | -$1.07 | — | — | $666.7M | — |
| FY21 | — | -$0.87 | — |
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 | $228.9M | $484.9M | $666.7M | $804M | $1.3B | $2.2B |
| YoY change | — | +111.8% | +37.5% | +20.6% | +61.7% | +69.4% |
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 |
|---|
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 | 228.9M | 484.9M | 666.7M | 804M | 1.3B | 2.2B |
| Cost of revenue | 55M | 72.6M | 104.8M | 111M | 123.6M | 194.2M |
| Gross profit | 173.9M | 412.4M | 561.9M | 693M | 1.2B | 2B |
| Gross margin | 76% | 85% | 84.3% | 86.2% | 90.5% | 91.2% |
| Research & development | 117.5M | 257M | 365.2M | 438.3M | 935.2M | 783.1M |
| Selling, general & administrative | 118.9M | 282.6M | 368.9M | 394.8M | 802M | 783.2M |
| Operating expenses | 236.4M | 539.6M | 734.1M | 833.2M | 1.7B | 1.6B |
| Operating income | -62.6M | -127.2M | -172.2M | -140.2M | -560.6M | 442M |
| Operating margin | -27.3% | -26.2% | -25.8% | -17.4% | -43.1% | 20.1% |
| Non-operating income, net | 3.5M | -343K | 14.2M | 53.1M | 75.4M | 86.7M |
| Pretax income | -59.1M | -127.6M | -157.9M | -87M | -485.2M | 528.7M |
| Income tax | 102K | 340K | 622K | 3.8M | -931K | -1M |
| Net income | -59.2M | -127.9M | -158.6M | -90.8M | -484.3M | 529.7M |
| Net margin | -25.9% | -26.4% | -23.8% | -11.3% | -37.2% | 24.1% |
| EBITDA | -60.6M | -124.4M | -164.2M | -126.5M | -544.9M | 457.9M |
| EPS | -0.4 | -0.87 | -1.07 | -0.57 | -3.33 | 2.84 |
| Diluted EPS | -0.4 | -0.87 | -1.07 | -0.57 | -3.33 | 2.62 |
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 | 207.5M | 249.8M | 243M | 281.2M | 348.4M | 427.7M | 392.4M | 499.6M | 584.9M | 725.6M | 663.4M | 804.9M |
| Cost of revenue | 26.4M | 28.9M | 27.6M | 29.5M | 34.6M | 31.8M | 37.1M | 45.9M | 52.5M | 58.7M | 56.3M | 70.3M |
| Gross profit | 181.1M | 220.8M | 215.3M | 251.7M | 313.7M | 395.9M | 355.3M | 453.7M | 532.4M | 666.9M | 607.1M | 734.6M |
| Gross margin | 87.3% | 88.4% | 88.6% | 89.5% | 90.1% | 92.6% | 90.5% | 90.8% | 91% | 91.9% | 91.5% | 91.3% |
| Research & development | 108.3M | 111.6M | 437M | 142.8M | 166.7M | 188.6M | 191.3M | 196.6M | 196.4M | 198.9M | 207.2M | 231.3M |
| Selling, general & administrative | 92.4M | 106.3M | 367.6M | 139.9M | 140.2M | 154.3M | 160.1M | 189.4M | 197.5M | 236.2M | 217M | 271.6M |
| Operating expenses | 200.7M | 217.8M | 804.6M | 282.7M | 306.9M | 343M | 351.4M | 386M | 393.9M | 435.1M | 424.2M | 502.9M |
| Operating income | -19.6M | 3M | -589.3M | -31M | 6.9M | 52.9M | 3.9M | 67.7M | 138.5M | 231.8M | 182.9M | 231.7M |
| Operating margin | -9.44% | 1.21% | -242.5% | -11% | 1.97% | 12.4% | 0.99% | 13.6% | 23.7% | 31.9% | 27.6% | 28.8% |
| Non-operating income, net | 12.6M | 16.5M | 14.6M | 20.7M | 23M | 17.1M | 20.5M | 21.1M | 22M | 23M | 22.8M | 25.1M |
| Pretax income | -6.9M | 19.5M | -574.7M | -10.3M | 29.8M | 70M | 24.4M | 88.9M | 160.6M | 254.8M | 205.7M | 256.8M |
| Income tax | 445K | 942K | 365K | -216K | -31K | -1M | -1.7M | -439K | -2.1M | 3.2M | 1.7M | 4M |
| Net income | -7.4M | 18.5M | -575.1M | -10.1M | 29.9M | 71M | 26.2M | 89.3M | 162.7M | 251.6M | 204M | 252.8M |
| Net margin | -3.56% | 7.42% | -236.7% | -3.59% | 8.57% | 16.6% | 6.67% | 17.9% | 27.8% | 34.7% | 30.7% | 31.4% |
| EBITDA | -16.3M | 6.8M | -585.5M | -27.3M | 10.8M | 57M | 7.9M | 71.6M | 142.4M | 236M | 187.1M | 236M |
| EPS | -0.05 | — | -8.19 | -0.06 | 0.18 | 0.4 | 0.14 | 0.48 | 0.87 | 1.32 | 1.07 | 1.31 |
| Diluted EPS | -0.05 | — | -8.19 | -0.06 | 0.16 | 0.36 | 0.13 | 0.45 | 0.8 | 1.24 | 1.01 | 1.25 |
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 | — | — | — | — | 23.8B | — | 27.5B |
| Enterprise value | — | — | — | — | 22B | — | 26.1B |
| Shares outstanding | 147.8M | 147.8M | 147.8M | 159M | 145.5M | 186.4M | 186.4M |
| Metric | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| P/E | — | — | — | — | — | — | 34.8 |
| P/S | — | — | — | — | 18.3 | — | 10.4 |
| P/B | — | — | — | — | 11.2 | — | 8.77 |
| EV/EBITDA | — | — | — | — | -40.3 | — | 32.5 |
| EV/Sales | — | — | — | — | 16.9 | — | 9.38 |
| Earnings yield | — | — | — | — | — | — | 2.87% |
| FCF yield | — | — | — | — | 0.91% | — | 2.46% |
| PEG | — | — | — | — | — | — | 0.2 |
| Metric | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| Gross margin | 76% | 85% | 84.3% | 86.2% | 90.5% | 91.2% | 91.3% |
| Operating margin | -27.3% | -26.2% | -25.8% | -17.4% | -43.1% | 20.1% | 28.8% |
| Net margin | -25.9% | -26.4% | -23.8% | -11.3% | -37.2% | 24.1% | 31.3% |
| ROE | 39% | 44.7% | 41.8% | 22% | -22.7% | 18.1% | 30.7% |
| ROA | -11.3% | -7.77% | -9.91% | -5.69% | -20.7% | 16.4% | 15.7% |
| ROIC | 12.7% | 7.55% | 10.6% | 8.76% | -177% | 93% | 149.7% |
| Return on tangible assets | -11.6% | -7.89% | -10.8% | -6.14% | -22% | 17% | 24.7% |
| Metric | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| Current ratio | 9.52 | 22.7 | 13.9 | 11.1 | 12.6 | 11.6 | 10.5 |
| Quick ratio | 9.52 | 22.7 | 13.9 | 11.1 | 12.6 | 11.6 | 10.5 |
| Debt / equity | -0.13 | -0.05 | -0.05 | -0.06 | 0.01 | 0.01 | 0.01 |
| Debt / assets | 0.04 | 0.01 | 0.01 | 0.02 | 0.01 | 0.01 | 0.01 |
| Net debt / EBITDA | 5.65 | 11.3 | 7.6 | 9.39 | 3.33 | -5.36 | -3.45 |
| Effective tax rate | 0% | 0% | 0% | 0% | 0% | 0% | 0.78% |
| Metric | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| Revenue per share | 1.55 | 3.28 | 4.51 | 5.06 | 8.94 | 11.8 | 14.6 |
| EPS (basic) | -0.4 | -0.87 | -1.07 | -0.57 | -3.33 | 2.84 | 2.84 |
| EPS (diluted) | -0.4 | -0.87 | -1.07 | -0.57 | -3.33 | 2.62 | 4.3 |
| Book value per share | -1.03 | -1.94 | -2.56 | -2.6 | 14.6 | 15.7 | 17.1 |
| FCF per share | -0.44 | -0.93 | -0.68 | -0.53 | 1.48 | 3.67 | 5.04 |
| Cash per share | 2.45 | 9.56 | 8.57 | 7.63 | 12.7 | 13.3 | 14.5 |
| Capex per share | 0.02 | 0.02 | 0.04 | 0.06 | 0.04 | — | — |
| Metric | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| Capex / revenue | 1.33% | 0.47% | 0.93% | 1.21% | 0.48% | — | — |
| Capex / operating cash flow | -3.73% | -1.63% | -5.65% | -15.1% | 2.77% | — | — |
| Payout ratio | — | — | — | — | — | — | 0% |
| — |
| $484.9M |
| — |
| FY20 | — | -$0.4 | — | — | $228.9M | — |
| Q4 24 |
|---|
| Q1 25 |
|---|
| Q2 25 |
|---|
| Q3 25 |
|---|
| Q4 25 |
|---|
| Q1 26 |
|---|
| Q2 26 |
|---|
| Revenue | $207.5M | $249.8M | $243M | $281.2M | $348.4M | $427.7M | $392.4M | $499.6M | $584.9M | $725.6M | $663.4M | $804.9M |
| YoY change | +21% | +24.6% | +48.4% | +53.6% | +67.9% | +71.3% | +61.5% | +77.7% | +67.9% | +69.7% | +69.1% | +61.1% |
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 | 362.6M | 1.4B | 1.3B | 1.2B | 1.8B | 2.5B |
| Receivables | 86.5M | 161.7M | 192M | 245.3M | 349.5M | 590.2M |
| Inventory | — | — | — | — | — | — |
| Total current assets | 473.7M | 1.6B | 1.5B | 1.5B | 2.2B | 3.1B |
| Property, plant & equipment | 29.4M | 22.8M | 30.5M | 39M | 35.9M | 33.5M |
| Goodwill & intangibles | 14.5M | 24.3M | 135.1M | 116.9M | 135.2M | 115.3M |
| Total assets | 524.1M | 1.6B | 1.6B | 1.6B | 2.3B | 3.2B |
| Accounts payable | 9.3M | 22.9M | 32.9M | 46.5M | 45.4M | 62.9M |
| Short-term debt | 6.5M | 6.9M | 7.8M | 3.7M | 6.1M | 7M |
| Total current liabilities | 49.7M | 70.5M | 106.5M | 133.6M | 176M | 271.3M |
| Long-term debt | 13.5M | 6.6M | 11.7M | 22M | 20.6M | 16.2M |
| Total liabilities | 675.8M | 1.9B | 2B | 2B | 205.8M | 310.1M |
| Shareholders' equity | -151.6M | -286M | -379.1M | -412.9M | 2.1B | 2.9B |
| Total debt | 19.9M | 13.5M | 19.5M | 25.7M | 26.7M | 23.2M |
| Net debt | -92M | -1.3B | -416.3M | -375.4M | -535.4M | -930.4M |
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 | 1.2B | 1.2B | 1.7B | 1.7B | 1.7B | 1.8B | 2B | 2.1B | 2.2B | 2.5B | 2.8B | 2.8B |
| Receivables | 192.7M | 245.3M | 215.3M | 240.1M | 283.9M | 349.5M | 326.1M | 407.2M | 487.6M | 590.2M | 522.9M | 650.1M |
| Inventory | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current assets | 1.4B | 1.5B | 1.9B | 2B | 2.1B | 2.2B | 2.3B | 2.5B | 2.8B | 3.1B | 3.4B | 3.5B |
| Property, plant & equipment | 39M | 39M | 37.1M | 39.3M | 37.6M | 35.9M | 35M | 33.5M | 35.4M | 33.5M | 30.9M | 30.4M |
| Goodwill & intangibles | 121.4M | 116.9M | 108.8M | 108.1M | 140.2M | 135.2M | 130.2M | 125.3M | 120.3M | 115.3M | 110.4M | 105.5M |
| Total assets | 1.6B | 1.6B | 2B | 2.1B | 2.2B | 2.3B | 2.4B | 2.6B | 2.9B | 3.2B | 3.5B | 3.6B |
| Accounts payable | 35.3M | 46.5M | 45.4M | 64.3M | 62M | 45.4M | 43.9M | 63.9M | 73.1M | 62.9M | 51.7M | 89.1M |
| Short-term debt | 3.1M | 3.7M | 4.4M | 5.4M | 5.4M | 6.1M | 6.4M | 6.6M | 6.9M | 7M | 7.2M | 7.8M |
| Total current liabilities | 133.8M | 133.6M | 156.5M | 159.5M | 172.3M | 176M | 186.8M | 210.8M | 228.3M | 271.3M | 265.9M | 337.7M |
| Long-term debt | 23.2M | 22M | 20.8M | 22.8M | 21.6M | 20.6M | 20.2M | 18.6M | 18.2M | 16.2M | 14.1M | 13.1M |
| Total liabilities | 2B | 2B | 177.6M | 182.5M | 194.1M | 205.8M | 219.9M | 245.2M | 265.7M | 310.1M | 304.6M | 350.9M |
| Shareholders' equity | -455.2M | -412.9M | 1.8B | 1.9B | 2B | 2.1B | 2.2B | 2.4B | 2.6B | 2.9B | 3.2B | 3.3B |
| Total debt | 26.3M | 25.7M | 25.2M | 28.1M | 27M | 26.7M | 26.6M | 25.2M | 25M | 23.2M | 21.3M | 20.9M |
| Net debt | -408.1M | -375.4M | -943.3M | -439.8M | -488.9M | -535.4M | -609.2M | -708.9M | -886.6M | -930.4M | -1.4B | -1.5B |
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 | -59.2M | -127.9M | -158.6M | -90.8M | -484.3M | 529.7M |
| Depreciation & amortization | 1.9M | 2.8M | 8M | 13.7M | 15.6M | 15.9M |
| Stock-based compensation | 21.2M | 48.7M | 55.3M | 47.6M | 801.6M | 343.2M |
| Change in working capital | -54.9M | -72M | -29.6M | -46.6M | -107.2M | -230.4M |
| Operating cash flow | -81.8M | -140.7M | -110.3M | -64.3M | 225.7M | 690.9M |
| Capital expenditure | -3M | -2.3M | -6.2M | -9.7M | -6.2M | — |
| Investing cash flow | 81.2M | 175.7M | -804.2M | 41.3M | -447.6M | -212.2M |
| Dividends paid | — | — | — | — | — | — |
| Share repurchases | 0 | -95.2M | 0 | — | — | — |
| Financing cash flow | 0 | 1.1B | -10.8M | -9.2M | 290.6M | -105.6M |
| Net change in cash | -631K | 1.2B | -925.3M | -32.2M | 68.7M | 373.1M |
| Free cash flow | -64.9M | -137.5M | -100.3M | -84.8M | 215.8M | 684.2M |
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 | -7.4M | 18.5M | -575.1M | -10.1M | 29.9M | 71M | 26.2M | 89.3M | 162.7M | 251.6M | 204M | 252.8M |
| Depreciation & amortization | 3.3M | 3.8M | 3.7M | 3.8M | 4M | 4.2M | 4M | 3.9M | 3.9M | 4.2M | 4.2M | 4.3M |
| Stock-based compensation | 9.4M | 15.6M | 577.5M | 64.3M | 74.8M | 85.1M | 85.4M | 89.1M | 83.5M | 85.2M | 68.3M | 101M |
| Change in working capital | -25.8M | -43M | 27.3M | -7.4M | -45M | -82.1M | 20.5M | -62.7M | -75M | -113.2M | 55.2M | -91.8M |
| Operating cash flow | -16.9M | -3.8M | 35.2M | 52.1M | 60.3M | 78.1M | 137.4M | 121.2M | 185.2M | 266.8M | 312.3M | 261.9M |
| Capital expenditure | -3.9M | -4.6M | -2.9M | -1.2M | -1.4M | -842K | -979K | -505K | — | — | — | — |
| Investing cash flow | 2.6M | -18.4M | 114.1M | -519.6M | 1.1M | -43.1M | -27.5M | -2.1M | 18.6M | -202.7M | 125.9M | 95.8M |
| Dividends paid | — | — | — | — | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — | — | — | -5M | -234.6M |
| Financing cash flow | -1M | -3.1M | 398.1M | -11.2M | -69.6M | -26.7M | -36.7M | -15.2M | -30.1M | -23.6M | -21.2M | -249.1M |
| Net change in cash | -15.3M | -25.3M | 547.4M | -478.7M | -8.2M | 8.3M | 73.2M | 103.9M | 173.6M | 40.5M | 417M | 108.6M |
| Free cash flow | -11.6M | -22M | 29.2M | 27.2M | 70.3M | 89.2M | 126.6M | 110.8M | 183.1M | 263.6M | 311.2M | 260.7M |