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 | -$0.15 | -$0.04 | +73.3% | — | $9.9M | — |
| Q1 26 | -$0.13 | -$0.16 | -23.1% | — | $8.7M | — |
| Q4 25 | -$0.13 | $0.08 | +161.5% | — | $8.1M | — |
| Q3 25 | -$0.11 | -$0.06 | +45.5% | — | $7.3M | — |
| Q2 25 | -$0.14 | $0.18 | +228.6% | — | $6.6M | — |
| Q1 25 | -$0.16 | -$0.19 | -18.8% | — | $5.6M | — |
| Q4 24 | -$0.12 | -$0.47 | -291.7% | — | $4.6M | — |
| Q3 24 | -$0.07 | -$0.74 | -957.1% | — | $4.1M | — |
| Q2 24 | -$0.04 | $0.06 | +250.0% | — | $3.6M | — |
| Q1 24 | -$0.08 | -$0.78 | -875.0% | — | $2.4M | — |
| Q4 23 | -$0.08 | -$0.61 | -662.5% | — | $2.2M | — |
| Q3 23 | -$0.06 | -$0.01 | +83.3% | — | $2.5M | — |
| Q4 22 | — | $0.04 | — | — | $609K | — |
| Q3 22 | — | -$0.04 | — | — | $431K | — |
| Q2 22 | — | -$0.09 | — | — | $409K | — |
| Q1 22 | — | -$1.44 | — | — | $397K | — |
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 | — | $0.56 | — | — | $27.5M | — |
| FY24 | — | -$1.76 | — | — | $14.8M | — |
| FY23 | — | -$0.98 | — | — | $7.6M | — |
| FY22 | — | -$0.23 | — | — | $1.8M | — |
| FY21 | — | -$1 |
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 | $685.6K | $1.6M | $1.8M | $7.6M | $14.8M | $27.5M |
| YoY change | — | +InfinityT% | +130.2% | +16.9% | +310.6% | +94.9% | +86.6% |
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 | 0 | 685.6K | 1.6M | 1.8M | 7.6M | 14.8M | 27.5M |
| Cost of revenue | — | — | — | — | — | 9.1M | 3.3M |
| Gross profit | — | — | — | — | — | 5.6M | 24.2M |
| Gross margin | — | — | — | — | — | 38.2% | 88% |
| Research & development | — | — | — | — | — | — | — |
| Selling, general & administrative | 993.5K | 837.3K | 8.7M | 14.7M | 15.1M | 19.4M | 37.3M |
| Operating expenses | 1.6M | 2.8M | 13.2M | 19.8M | 22.3M | 23.4M | 46M |
| Operating income | -1.6M | -2.1M | -12.2M | -18.6M | -17M | -20.4M | -28M |
| Operating margin | — | -312.1% | -773.1% | -1K% | -224.3% | -138.3% | -101.8% |
| Non-operating income, net | — | — | -250K | 4.9M | -7.9M | -32.6M | 36.7M |
| Pretax income | -1.8M | -2.5M | -13.6M | -13.7M | -25.4M | -53.7M | 7.3M |
| Income tax | — | — | — | — | — | — | — |
| Net income | -1.8M | -2.5M | -13.6M | -13.7M | -25.4M | -53.7M | 7.3M |
| Net margin | — | -369.9% | -862.5% | -741.4% | -335.9% | -363.7% | 26.6% |
| EBITDA | -1.6M | -2M | -11.2M | -17.8M | -14M | -15.7M | -21.2M |
| EPS | -0.13 | -0.19 | -1 | -0.23 | -0.98 | -1.76 | 0.56 |
| Diluted EPS | -0.13 | -0.19 | -1 | -0.23 | -0.98 | -1.76 | 0.09 |
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 | 2.5M | 2.2M | 2.4M | 3.6M | 4.1M | 4.6M | 5.6M | 6.6M | 7.3M | 8.1M | 8.7M | 9.9M |
| Cost of revenue | — | — | — | — | — | — | 734K | 923K | 689K | 969K | 1.2M | 1.9M |
| Gross profit | — | — | — | — | — | — | 4.9M | 5.7M | 6.6M | 7.1M | 7.6M | 8M |
| Gross margin | — | — | — | — | — | — | 86.9% | 86% | 90.6% | 88% | 86.8% | 81.1% |
| Research & development | — | — | — | — | — | — | — | — | — | — | — | — |
| Selling, general & administrative | 3.6M | 4.3M | 4.9M | 4.6M | 4.6M | 5.3M | 8.7M | 9.5M | 10.4M | 8.7M | 10M | 10.3M |
| Operating expenses | 5.2M | 6.3M | 7M | 7.9M | 8.3M | 102K | 10.6M | 11.7M | 12.5M | 11.1M | 12.6M | 12.6M |
| Operating income | -3.4M | -4.7M | -5.2M | -5M | -4.9M | -5.4M | -6.8M | -7.5M | -7.7M | -6M | -7M | -6.8M |
| Operating margin | -135.9% | -208.4% | -217.3% | -137% | -118.7% | -115.6% | -122% | -114.3% | -105.2% | -74.4% | -79.9% | -68.7% |
| Non-operating income, net | 1.6M | -8.2M | -15.8M | 9.3M | -15.7M | -10.4M | -2.2M | 22M | 3.3M | 13.5M | -705K | 3.7M |
| Pretax income | -2M | -13M | -21.2M | 4.2M | -20.7M | -15.9M | -9.1M | 14.4M | -4.7M | 6.7M | -9M | -4.4M |
| Income tax | — | — | — | — | — | — | — | — | — | — | — | — |
| Net income | -2M | -13M | -21.2M | 4.2M | -20.7M | -15.9M | -9.1M | 14.4M | -4.7M | 6.7M | -9M | -4.4M |
| Net margin | -79.9% | -583% | -881.8% | 115.1% | -505.2% | -343.6% | -163.2% | 217.9% | -63.7% | 83.7% | -102.8% | -44.3% |
| EBITDA | -2.7M | -3.5M | -4.2M | -3.2M | -3.9M | -4.4M | -5.4M | -5.8M | -5.6M | -4.4M | -5.2M | -4.9M |
| EPS | -0.01 | — | -0.78 | 0.23 | -0.74 | — | -0.19 | 0.52 | -0.06 | — | -0.16 | -0.04 |
| Diluted EPS | -0.01 | — | -0.78 | 0.08 | -0.74 | — | -0.19 | 0.18 | -0.06 | — | -0.16 | -0.04 |
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 | — | — | — | — | — | — | — | 812.2M |
| Enterprise value | — | — | — | — | — | — | — | 970.8M |
| Shares outstanding | 13.6M | 13.6M | 13.6M | 14M | 16.5M | 25.7M | 33.8M | 33.8M |
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| P/E | — | — | — | — | — | — | — | 93.9 |
| P/S | — | — | — | — | — | — | — | 23.9 |
| P/B | — | — | — | — | — | — | — | 2.72 |
| EV/EBITDA | — | — | — | — | — | — | — | -49.6 |
| EV/Sales | — | — | — | — | — | — | — | 28.6 |
| Earnings yield | — | — | — | — | — | — | — | 1.07% |
| FCF yield | — | — | — | — | — | — | — | -29.8% |
| PEG | — | — | — | — | — | — | — | -0.87 |
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| Gross margin | — | — | — | — | — | 38.2% | 88% | 81.1% |
| Operating margin | — | -312.1% | -773.1% | -1K% | -224.3% | -138.3% | -101.8% | -68.7% |
| Net margin | — | -369.9% | -862.5% | -741.4% | -335.9% | -363.7% | 26.6% | 2.73% |
| ROE | 44.2% | -2.16% | -80.4% | -13.9% | -19.2% | -33.6% | 4.26% | -6.8% |
| ROA | -6.2% | -1.81% | -4.48% | -4.13% | -6.33% | -9.65% | 1.23% | -2.46% |
| Return on tangible assets | -6.2% | -1.81% | -4.48% | -4.13% | -6.33% | -9.75% | 1.25% | -1.38% |
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| Current ratio | 0.36 | 28.5 | 20.6 | 13.7 | 12.2 | 5.63 | 1.51 | 3.38 |
| Quick ratio | 0.36 | 28.5 | 20.6 | 13.7 | 12.2 | 5.63 | 1.51 | 5.6 |
| Debt / equity | -7.42 | 0.49 | 13.2 | 2.19 | 1.82 | 2.02 | 2.17 | 3.71 |
| Debt / assets | 1.04 | 0.41 | 0.73 | 0.65 | 0.6 | 0.58 | 0.63 | 0.74 |
| Net debt / EBITDA | -18.3 | -27.5 | -19.3 | -10.6 | -12.1 | -16.6 | -16.7 | -29.3 |
| Interest coverage | -7.85 | -5.41 | -10.7 | — | -46 | -74.1 | 8.31 | -2.91 |
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| Revenue per share | 0 | 0.05 | 0.12 | 0.13 | 0.46 | 0.57 | 0.81 | 1 |
| EPS (basic) | -0.13 | -0.19 | -1 | -0.23 | -0.98 | -1.76 | 0.56 | 0.56 |
| EPS (diluted) | -0.13 | -0.19 | -1 | -0.23 | -0.98 | -1.76 | 0.09 | -0.18 |
| Book value per share | -0.29 | 8.63 | 1.25 | 7.04 | 8.04 | 6.21 | 5.08 | 3.66 |
| FCF per share | -0.4 | -0.95 | -1.66 | -5.26 | -3.88 | -3.4 | -2.56 | -2.99 |
| Cash per share | 0.07 | 0.08 | 0.5 | 1.94 | 4.38 | 2.39 | 0.61 | 0.55 |
| Capex per share | 0.3 | 0.87 | 1.18 | 3.29 | 3.41 | 3.05 | — | — |
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | Current |
|---|---|---|---|---|---|---|---|---|
| Capex / revenue | — | 1.7K% | 1K% | 2.5K% | 741.1% | 532.1% | — | — |
| Capex / operating cash flow | -293.1% | -1.2K% | -244.2% | -222.3% | -352.2% | -181.2% | — | — |
| Payout ratio | — | — | — | — | — | — | — | 0% |
| — |
| — |
| $1.6M |
| — |
| FY20 | — | -$0.19 | — | — | $685.6K | — |
| FY19 | — | -$0.13 | — | — | $0 | — |
| Q1 24 |
|---|
| Q2 24 |
|---|
| Q3 24 |
|---|
| Q4 24 |
|---|
| Q1 25 |
|---|
| Q2 25 |
|---|
| Q3 25 |
|---|
| Q4 25 |
|---|
| Q1 26 |
|---|
| Q2 26 |
|---|
| Revenue | $2.5M | $2.2M | $2.4M | $3.6M | $4.1M | $4.6M | $5.6M | $6.6M | $7.3M | $8.1M | $8.7M | $9.9M |
| YoY change | +480.5% | +267.5% | +117.2% | +109.4% | +63.7% | +107.4% | +132.7% | +82.1% | +78.2% | +73.6% | +56% | +49.6% |
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 | 1M | 1.1M | 6.8M | 27.1M | 72.1M | 61.4M | 20.7M |
| Receivables | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — |
| Total current assets | 1M | 140.2M | 207.1M | 180.9M | 172.3M | 127.2M | 48.5M |
| Property, plant & equipment | 20M | 48.3M | 96.8M | 104.9M | 138.2M | 297.2M | 242.4M |
| Goodwill & intangibles | — | — | — | — | — | 6M | 5.4M |
| Total assets | 28.3M | 140.2M | 303.9M | 331.2M | 402.2M | 556.6M | 593.2M |
| Accounts payable | — | 153.9K | 1.2M | — | — | — | — |
| Short-term debt | — | — | 1M | — | — | — | — |
| Total current liabilities | 2.8M | 4.9M | 10.1M | 13.2M | 14.1M | 22.6M | 32.1M |
| Long-term debt | 29.5M | 57.5M | 222M | 215.7M | 241.2M | 323M | 373.6M |
| Total liabilities | 32.3M | 22.9M | 287M | 232.8M | 270M | 396.7M | 421.2M |
| Shareholders' equity | -4M | 117.3M | 16.9M | 98.4M | 132.2M | 159.8M | 172M |
| Total debt | 29.5M | 57.5M | 223M | 215.7M | 241.2M | 323M | 373.6M |
| Net debt | 28.5M | 56.4M | 216.2M | 213.6M | 180.9M | 280.5M | 352.9M |
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 | 2.5M | 72.1M | 39.5M | 35.1M | 23M | 61.4M | 51.1M | 8.6M | 23.5M | 20.7M | 12.1M | 19M |
| Receivables | — | — | — | — | 6.2M | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current assets | 116.9M | 172.3M | 159.2M | 149.1M | 116.6M | 127.2M | 97.5M | 43.6M | 47.9M | 48.5M | 187.6M | 206.9M |
| Property, plant & equipment | 109.2M | 138.2M | 191.4M | 219.3M | 250.7M | 297.2M | 259.1M | 257.9M | 212.9M | 242.4M | 271M | 266.5M |
| Goodwill & intangibles | — | — | — | — | — | 6M | 5.9M | 5.7M | 5.6M | 5.4M | 5.3M | 5.1M |
| Total assets | 332.8M | 402.2M | 444.4M | 461.6M | 456.8M | 556.6M | 553.7M | 568.1M | 558M | 593.2M | 764.5M | 822.9M |
| Accounts payable | — | — | — | — | — | — | — | — | — | — | — | — |
| Short-term debt | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current liabilities | 11.3M | 14.1M | 11M | 22.5M | 18.4M | 22.6M | 24.2M | 24.6M | 19.9M | 32.1M | 26.8M | 36.9M |
| Long-term debt | 228M | 241.2M | 287.7M | 296.4M | 300.5M | 323M | 325.5M | 344.8M | 345.7M | 373.6M | 555.9M | 608.1M |
| Total liabilities | 244.8M | 270M | 329.3M | 342M | 357.3M | 396.7M | 402.5M | 401.1M | 394.2M | 421.2M | 599.5M | 658.9M |
| Shareholders' equity | 88M | 132.2M | 115.1M | 119.6M | 99.5M | 159.8M | 151.2M | 167M | 163.9M | 172M | 165M | 164M |
| Total debt | 228M | 241.2M | 287.7M | 296.4M | 300.5M | 323M | 325.5M | 344.8M | 345.7M | 373.6M | 555.9M | 608.1M |
| Net debt | 225.5M | 180.9M | 285.1M | 271.4M | 297M | 280.5M | 274.3M | 336.1M | 322.2M | 352.9M | 543.8M | 589.1M |
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 | -1.8M | -2.5M | -13.6M | -13.7M | -25.4M | -53.7M | 7.3M |
| Depreciation & amortization | 0 | 93.5K | 1M | 695K | 2.3M | 2.7M | 6.4M |
| Stock-based compensation | — | — | 217K | 1.2M | 2.3M | 3.9M | 5.8M |
| Change in working capital | -88K | 92.9K | 3.3M | -1.3M | 3.1M | -799K | 7.4M |
| Operating cash flow | -1.4M | -1M | -6.5M | -20.7M | -15.9M | -43.3M | -2.3M |
| Capital expenditure | -4.1M | -11.9M | -16M | -46M | -56.1M | -78.5M | — |
| Investing cash flow | -4.1M | -11.9M | -16M | -187.8M | -16.3M | -43.9M | 21.3M |
| Dividends paid | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — |
| Financing cash flow | 5.7M | 12M | 226.5M | 52.8M | 54.4M | 72.1M | 7.3M |
| Net change in cash | 216.8K | -920.2K | 203.9M | -155.7M | 22.2M | -15.2M | 26.3M |
| Free cash flow | -5.5M | -12.9M | -22.6M | -73.5M | -63.9M | -87.6M | -86.5M |
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 | -2M | -13M | -21.2M | 4.2M | -20.7M | -15.9M | -9.1M | 14.4M | -4.7M | 6.7M | -9M | -4.4M |
| Depreciation & amortization | 670K | 628K | 629K | 642K | 646K | 789K | 1.1M | 1.5M | 1.8M | 2M | 2M | 2.1M |
| Stock-based compensation | 572K | 629K | 1M | 1.1M | 905K | 905K | 1.2M | 1.3M | 2M | 1.2M | 1.6M | 1.8M |
| Change in working capital | -1M | 2.1M | -1.2M | 76K | 765K | 33K | -1.4M | 1.6M | 1.3M | 6.1M | -1.2M | 1.6M |
| Operating cash flow | -1.4M | -9M | -19.9M | 7.1M | -17.1M | -12.9M | -7M | -944K | -906K | 4.6M | -3.9M | 485K |
| Capital expenditure | -15.9M | -15.5M | -9.4M | -9.2M | -36.8M | -23.2M | -23.4M | — | — | — | — | — |
| Investing cash flow | 18.6M | -18.4M | 33.9M | 20.7M | -46.2M | -51.3M | -4.5M | -28.6M | 31M | -53K | -94.8M | 63.5M |
| Dividends paid | — | — | — | — | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — | — | — | — | — |
| Financing cash flow | -465K | 56.1M | -1.2M | -810K | -806K | 74.9M | -1.2M | -295K | -5.2M | -7.1M | 174.9M | 51.5M |
| Net change in cash | 16.8M | 28.7M | 12.8M | 27M | -64.1M | 10.7M | -12.7M | -29.8M | 24.9M | -2.5M | 76.2M | 115.5M |
| Free cash flow | -16.4M | -17M | -13.8M | -10.3M | -37.9M | -25.6M | -28.8M | -22.9M | -21.4M | -13.4M | -36M | -32.1M |