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 % |
|---|---|---|---|---|---|---|
| Q1 26 | -$1.1 | -$0.97 | +11.8% | — | $0 | — |
| Q3 25 | -$1.72 | -$0.53 | +69.2% | — | $0 | — |
| Q2 25 | -$0.91 | -$2.86 | -214.3% | — | $0 | — |
| Q1 25 | -$1.33 | -$0.76 | +42.9% | — | $0 | — |
| Q4 24 | -$1.52 | -$0.76 | +50.0% | — | $0 | — |
| Q3 24 | -$1.37 | -$3.42 | -149.6% | — | $0 | — |
| Q2 24 | -$1.77 | -$1.9 | -7.3% | — | $0 | — |
| Q1 24 | -$2.13 | -$2.66 | -24.9% | — | $0 | — |
| Q4 23 | -$0.06 | -$0.07 | -16.7% | — | $0 | — |
| Q3 23 | -$2.66 | -$2.28 | +14.3% | — | $0 | — |
| Q2 23 | -$0.07 | -$0.06 | +14.3% | — | $0 | — |
| Q1 23 | -$0.09 | -$0.07 | +22.2% | — | $0 | — |
| Q4 22 | -$3.04 | -$3.65 | -20.1% | — | $0 | — |
| Q3 22 | -$3.32 | -$3.65 | -9.9% | — | $0 | — |
| Q2 22 | -$3.17 | -$3.89 | -22.7% | — | $0 | — |
| Q1 22 | -$0.05 | -$0.09 | -80.0% | — | $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 | — | -$5.59 | — | — | $0 | — |
| FY24 | — | -$9.5 | — | — | $0 | — |
| FY23 | — | -$9.88 | — | — | $0 | — |
| FY22 | — | -$15.2 | — | — | $0 | — |
| FY21 | — | -$12.2 | — | — | $864K | — |
Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.
| Period | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | $864K | $0 | $0 | $0 | $0 |
| YoY change | — | -100% | 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 | Q4 23 | Q1 24 | Q2 24 | Q3 24 | Q4 24 | Q1 25 | Q2 25 | Q3 25 | Q4 25 | Q1 26 |
|---|
Revenue, gross profit, operating income, and net income per period.
Click a row to chart it; unreported figures show a dash.
| Period | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | 864K | 0 | 0 | 0 | 0 |
| Cost of revenue | 664K | 0 | — | — | — |
| Gross profit | 200K | 0 | — | — | — |
| Gross margin | 23.1% | — | — | — | — |
| Research & development | 4.2M | 19.8M | 26.1M | 33.3M | 54.9M |
| Selling, general & administrative | 26.5M | 44M | 25.4M | 45.6M | 88.2M |
| Operating expenses | 30.7M | 63.8M | 51.5M | 78.8M | 143.1M |
| Operating income | -30.5M | -63.8M | -51.5M | -78.8M | -143.1M |
| Operating margin | -3.5K% | — | — | — | — |
| Non-operating income, net | -1.7M | -4M | 3.4M | 137K | 21.7M |
| Pretax income | -32.2M | -67.6M | -47.5M | -78.1M | -113.1M |
| Income tax | — | — | — | — | — |
| Net income | -32.2M | -67.6M | -47.5M | -78.1M | -113.1M |
| Net margin | -3.7K% | — | — | — | — |
| EBITDA | -30.4M | -59.6M | -54.7M | -78.5M | -164.4M |
| EPS | -12.2 | -15.2 | -9.88 | -9.5 | -5.59 |
| Diluted EPS | -12.2 | -15.2 | -9.88 | -9.5 | -5.59 |
Revenue, gross profit, operating income, and net income per period.
Click a row to chart it; unreported figures show a dash.
| Period | Q4 23 | Q1 24 | Q2 24 | Q3 24 | Q4 24 | Q1 25 | Q2 25 | Q3 25 | Q4 25 | Q1 26 | Q2 26 | Q3 26 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cost of revenue | — | — | — | — | — | — | — | — | — | — | — | — |
| Gross profit | — | 0 | 0 | — | — | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — | — | — | — | — | — |
| Research & development | 8.1M | 6.6M | 7M | 7.6M | 12M | 8M | 6.5M | 13.8M | 19M | 15M | 25.6M | 32.4M |
| Selling, general & administrative | 5.6M | 6.1M | 6.9M | 19.4M | 13.1M | 12.3M | 35M | 9.2M | 14.3M | 9.6M | 13.6M | 23.5M |
| Operating expenses | 13.7M | 12.7M | 13.9M | 27M | 25.2M | 20.3M | 41.5M | 23M | 33.3M | 24.6M | 39.2M | 55.9M |
| Operating income | -13.7M | -12.7M | -13.9M | -27M | -25.2M | -20.3M | -41.5M | -23M | -33.3M | -24.6M | -39.2M | -55.9M |
| Operating margin | — | — | — | — | — | — | — | — | — | — | — | — |
| Non-operating income, net | -165K | -1.9M | 2M | -3.4M | 3.5M | 3.4M | -1.4M | 14M | 1.3M | 2M | -8M | -4M |
| Pretax income | -13.7M | -14.5M | -11.9M | -30.3M | -21.3M | -14.8M | -40.7M | -7.7M | -30.6M | -24.6M | -45.7M | -57.9M |
| Income tax | — | — | — | — | — | — | — | — | — | — | — | — |
| Net income | -13.7M | -14.5M | -11.9M | -30.3M | -21.3M | -14.8M | -40.7M | -7.7M | -30.6M | -24.6M | -45.7M | -57.9M |
| Net margin | — | — | — | — | — | — | — | — | — | — | — | — |
| EBITDA | -13.5M | -10.7M | -15.8M | -23.4M | -28.6M | -23.5M | -39.9M | -35.1M | -34.4M | -26.5M | -31.2M | -55.4M |
| EPS | — | -2.66 | -1.93 | -3.45 | — | -0.76 | -2.86 | -0.53 | — | -1.1 | -1.39 | -1 |
| Diluted EPS | — | -2.66 | -1.93 | -3.45 | — | -0.76 | -2.86 | -0.53 | — | -1.1 | -1.39 | -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 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| Market cap | — | 148M | — | — | — | — | 629.2M |
| Enterprise value | — | 83.9M | — | — | — | — | 330.8M |
| Shares outstanding | — | 3.7M | 6.2M | 6.9M | 8.3M | 20.2M | 20.2M |
| Metric | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| P/E | — | — | — | — | — | — | -2.26 |
| P/S | — | 171.3 | — | — | — | — | — |
| P/B | — | 1.72 | — | — | — | — | 1.55 |
| EV/EBITDA | — | -2.76 | — | — | — | — | -3.35 |
| EV/Sales | — | 97.2 | — | — | — | — | — |
| Earnings yield | — | — | — | — | — | — | -44.3% |
| FCF yield | — | -13% | — | — | — | — | -10.4% |
| PEG | — | — | — | — | — | — | -0.03 |
| Metric | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| Gross margin | — | 23.1% | — | — | — | — | — |
| Operating margin | — | -3.5K% | — | — | — | — | 0% |
| Net margin | — | -3.7K% | — | — | — | — | 0% |
| ROE | — | -37.4% | -88.8% | -98.5% | -26.7% | -47.7% | -53% |
| ROA | — | -35% | -80.5% | -88.1% | -25.9% | -43.7% | -32.9% |
| Return on tangible assets | — | -76.8% | -198.3% | 716.6% | -57.4% | -153.7% | -75% |
| Metric | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| Current ratio | — | 13.6 | 7.38 | 4.09 | 21.6 | 7.75 | 8.57 |
| Quick ratio | — | 13.6 | 7.38 | 4.09 | 21.6 | 7.75 | 13.8 |
| Debt / equity | — | — | — | — | — | — | 0.21 |
| Net debt / EBITDA | — | — | — | — | — | — | 0.56 |
| Interest coverage | — | -3.2K | — | — | — | — | — |
| Metric | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| Revenue per share | — | 0.23 | 0 | 0 | 0 | 0 | 0 |
| EPS (basic) | — | -12.2 | -15.2 | -9.88 | -9.5 | -5.59 | -5.59 |
| EPS (diluted) | — | -12.2 | -15.2 | -9.88 | -9.5 | -5.59 | -3.77 |
| Book value per share | — | 23.1 | 12.2 | 6.97 | 35.2 | 11.7 | 5.33 |
| FCF per share | — | -5.16 | -7.32 | -7.33 | -8.39 | -5.11 | -2.48 |
| Cash per share | — | 17.1 | 8.59 | 2.4 | 25.2 | 6.68 | 1.68 |
| Capex per share | — | 0.04 | 0.02 | 0.02 | 0 | 0.1 | 0.04 |
| Metric | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|
| Capex / revenue | — | 15.6% | — | — | — | — | — |
| Capex / operating cash flow | — | -0.65% | -0.22% | -0.33% | -0.03% | -2.73% | -1.61% |
| Payout ratio | — | — | — | — | — | — | 0% |
| Q2 26 |
|---|
| Q3 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 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|
| Cash & short-term investments | 1.5M | 64M | 53.6M | 16.6M | 209M | 135M |
| Receivables | 74K | 1.3M | 2.1M | 3M | 4.5M | 5.9M |
| Inventory | — | — | — | — | — | — |
| Total current assets | 1.6M | 66.5M | 58.4M | 23.2M | 218.5M | 166M |
| Property, plant & equipment | — | 557K | 491K | 450K | 547K | 141K |
| Goodwill & intangibles | 0 | 50.1M | 50M | 60.5M | 165.9M | 185M |
| Total assets | 1.7M | 92.1M | 84.1M | 53.9M | 302M | 258.6M |
| Accounts payable | — | 2.8M | 5.3M | 5.7M | 9.8M | 21.4M |
| Short-term debt | — | — | — | — | — | — |
| Total current liabilities | 263K | 4.9M | 7.9M | 5.7M | 10.1M | 21.4M |
| Long-term debt | — | — | — | — | — | — |
| Total liabilities | 263K | 6M | 7.9M | 5.7M | 10.1M | 21.4M |
| Shareholders' equity | 1.4M | 86.1M | 76.2M | 48.2M | 291.9M | 237.2M |
| Total debt | — | — | — | — | — | — |
| Net debt | — | — | — | — | — | — |
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 | Q4 23 | Q1 24 | Q2 24 | Q3 24 | Q4 24 | Q1 25 | Q2 25 | Q3 25 | Q4 25 | Q1 26 | Q2 26 | Q3 26 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & short-term investments | 16.6M | 9.3M | 18.1M | 39M | 209M | 183.3M | 109.9M | 100.1M | 135M | 118.7M | 113.6M | 264.7M |
| Receivables | 3M | 3.2M | 3.7M | 4.3M | 4.5M | 4.6M | 3.9M | 4.1M | 5.9M | 4.1M | 6.4M | 6.5M |
| Inventory | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current assets | 23.2M | 15.6M | 26.7M | 48.7M | 218.5M | 200.8M | 127.3M | 123.1M | 166M | 143.7M | 155.4M | 302.4M |
| Property, plant & equipment | 450K | 388K | 340K | 656K | 547K | 430K | 244.2K | 135.8K | 141K | 82K | 169.6K | 252.3K |
| Goodwill & intangibles | 60.5M | 59.3M | 61.1M | 160.7M | 165.9M | 166.9M | 118.7M | 125.8M | 185M | 134.2M | 180.5M | 181.9M |
| Total assets | 53.9M | 45.7M | 57.6M | 129.7M | 302M | 284.6M | 186.8M | 186.2M | 258.6M | 210.8M | 245.9M | 393.6M |
| Accounts payable | 5.7M | — | — | — | 9.8M | — | — | — | 21.4M | — | — | — |
| Short-term debt | — | — | — | 324K | — | 212K | 94.7K | — | — | — | — | — |
| Total current liabilities | 5.7M | 6M | 9.2M | 8.5M | 10.1M | 4.8M | 5.3M | 9.8M | 21.4M | 14.6M | 18.1M | 21.9M |
| Long-term debt | — | — | — | 42K | — | — | — | — | — | 44.5M | 39.2M | — |
| Total liabilities | 5.7M | 6M | 9.2M | 8.5M | 10.1M | 4.8M | 5.3M | 9.8M | 21.4M | 59.1M | 57.3M | 21.9M |
| Shareholders' equity | 48.2M | 39.7M | 48.4M | 121.2M | 291.9M | 279.8M | 181.6M | 176.4M | 237.2M | 151.8M | 188.6M | 371.6M |
| Total debt | — | — | — | 366K | — | 212K | 94.7K | — | — | 44.5M | 39.2M | — |
| Net debt | — | — | — | -38.6M | — | -183.1M | -109.8M | — | — | -74.2M | -74.4M | — |
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 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Net income | -32.2M | -67.6M | -47.5M | -78.1M | -113.1M |
| Depreciation & amortization | 49K | 168K | 251K | 424K | 475K |
| Stock-based compensation | 11.6M | 18M | 4.7M | 13.9M | 42.9M |
| Change in working capital | -2M | -2.1M | -1.4M | -1.5M | -2.1M |
| Operating cash flow | -20.7M | -47.9M | -43.6M | -65.3M | -71.9M |
| Capital expenditure | -135K | -105K | -142K | -21K | -2M |
| Investing cash flow | -1.1M | -355K | -142K | 7.6M | -2M |
| Dividends paid | — | — | — | — | — |
| Share repurchases | — | — | — | — | — |
| Financing cash flow | 76.2M | 31.5M | 13.2M | 254.5M | 20.2M |
| Net change in cash | 54.5M | -16.7M | -30.5M | 196.8M | -53.7M |
| Free cash flow | -19.3M | -45.7M | -50.7M | -69.6M | -103.3M |
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 | Q4 23 | Q1 24 | Q2 24 | Q3 24 | Q4 24 | Q1 25 | Q2 25 | Q3 25 | Q4 25 | Q1 26 | Q2 26 | Q3 26 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net income | -13.7M | -14.5M | -11.9M | -30.3M | -21.3M | -14.8M | -43.6M | -4.8M | -30.6M | -24.6M | -45.7M | -57.9M |
| Depreciation & amortization | 68K | 69K | 71K | 142K | 142K | 138K | 128.2K | 81.8K | 62K | 38K | 39.3K | 29.8K |
| Stock-based compensation | 481K | 1.3M | 1.4M | 9.9M | 1.3M | 4M | 24.6M | 977.6K | 2.1M | 753K | 511.4K | 6.1M |
| Change in working capital | -240K | -179K | -558K | -515K | -245K | 15K | -368.2K | -936.9K | -284K | 324K | -831.6K | 294.4K |
| Operating cash flow | -13.4M | -13.3M | -11M | -20.8M | -20.2M | -10.7M | -19.2M | -4.6M | -28.7M | -23.5M | -46M | -51.5M |
| Capital expenditure | 0 | 0 | 0 | -172K | -8K | — | -289.1K | -190.6K | -1.1M | -221K | -591.5K | -519.6K |
| Investing cash flow | 0 | 0 | 0 | -172K | -8K | — | -289.1K | -190.6K | -1.1M | -221K | -591.5K | -519.6K |
| Dividends paid | — | — | — | — | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — | — | — | — | — |
| Financing cash flow | 5.1M | 3.5M | 20.4M | 39.7M | 190.9M | -235K | -308.3K | -103.3K | 20.5M | 54.6M | 0 | 157.2M |
| Net change in cash | -8.3M | -9.8M | 9.4M | 18.7M | 170.7M | -10.9M | -19.8M | -4.9M | -9.3M | 30.9M | -46.6M | 105.2M |
| Free cash flow | -11.1M | -10.8M | -11.7M | -26.2M | -20.9M | -27.5M | -23.9M | -17.1M | -22.2M | -29.8M | -47.4M | -43.9M |