A 
2.54
-39.09%
Close of 9 Nov 2026, in USD
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At a glance
Figures in USD, from our data supplier.
Revenue
$5.8m
FY2016FY2025
Net income
$71.2m
FY2016FY2025
Free cash flow
−$84.3m
FY2016FY2025
Shareholders' equity
$159.2m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $5.8m | — | $3.5m | $1.4m | $3.0m | $10.0m | — | $3.0m | $837,000 | $889,000 |
| Research and development | $26.8m | $34.4m | $31.1m | $29.0m | $38.7m | $30.1m | $53.8m | $38.7m | $17.0m | $10.7m |
| Operating income | −$89.4m | −$64.2m | −$47.1m | −$50.9m | −$89.8m | −$80.1m | −$77.1m | −$58.2m | −$27.8m | −$23.9m |
| Net income | $71.2m | −$63.7m | −$54.2m | −$39.7m | −$84.9m | −$84.2m | −$76.3m | −$56.7m | −$27.3m | −$21.9m |
| Diluted earnings per share | 1.08 | -1.55 | -2.12 | -5.56 | -20.28 | -22.67 | -20.58 | -29.55 | -14.52 | -13.59 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | $219.6m | $108.9m | $64.0m | $64.2m | $79.6m | $151.2m | $223.4m | $174.4m | $178.8m | $111.1m |
| Cash and short-term investments | $191.4m | $97.7m | $52.2m | $52.1m | $45.0m | $95.0m | $129.3m | $85.0m | $137.8m | $69.1m |
| Total liabilities | $60.4m | $64.9m | $49.2m | $37.5m | $37.2m | $48.6m | $45.0m | $40.4m | $8.7m | $12.0m |
| Debt | $20.9m | $19.0m | — | — | — | $1.8m | — | — | — | — |
| Shareholders' equity | $159.2m | $44.0m | $14.8m | $26.8m | $42.4m | $102.6m | $178.4m | $134.0m | $170.1m | $99.1m |
| Shares outstanding | 66m | 41m | 26m | 7m | 4m | 4m | 4m | 2m | 2m | 2m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −$76.3m | −$56.0m | −$37.0m | −$43.5m | −$65.7m | −$35.0m | −$62.8m | −$39.1m | −$22.9m | −$13.0m |
| Capital spending | −$8.0m | −$2.4m | −$331,000 | −$130,000 | −$4.2m | −$1.3m | −$6.5m | −$19.5m | −$860,000 | −$519,000 |
| Free cash flow | −$84.3m | −$58.5m | −$37.3m | −$43.6m | −$69.8m | −$36.4m | −$69.3m | −$58.6m | −$23.8m | −$13.5m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $11.4m | $8.7m | $5.4m | — | $400,000 | — | $4.8m | — |
| Operating income | −$13.7m | −$23.0m | −$22.9m | −$24.0m | −$22.8m | −$19.7m | −$9.2m | −$15.3m |
| Net income | −$20.2m | −$17.1m | −$20.5m | −$5.2m | $108.8m | −$12.0m | −$9.3m | −$30.3m |
| Diluted earnings per share | -0.35 | -0.30 | -0.31 | -0.08 | 1.65 | -0.18 | -0.23 | -0.74 |
| Cash from operations | −$17.0m | −$19.0m | −$17.0m | −$21.0m | −$18.0m | −$18.0m | −$16.0m | −$12.0m |
| Capital spending | — | — | −$1.0m | −$2.0m | −$2.0m | −$1.0m | — | — |
| Free cash flow | — | — | −$18.0m | −$23.0m | −$20.0m | −$19.0m | — | — |
| Total assets | $179.5m | $198.5m | $219.6m | $231.1m | $246.2m | $99.4m | $108.9m | $120.6m |
| Cash and short-term investments | $146.8m | $168.3m | $191.4m | $207.5m | $225.5m | $84.2m | $97.7m | $109.7m |
| Debt | $14.6m | $19.4m | $20.9m | $19.9m | $20.1m | $19.9m | $19.8m | $19.7m |
| Shareholders' equity | $128.1m | $144.9m | $159.2m | $171.2m | $163.6m | $41.4m | $44.0m | $45.8m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 60.3% | -10.3% | 18.8% |
| Operating income | 20.7% | 2.2% | 17.0% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 4.9 | -3.6 | -1.1 | -0.3 | -0.2 | -0.5 | -0.7 | -0.6 | -2.8 | -0.9 |
| Price to sales | 59.9 | — | 16.9 | 7.2 | 5.5 | 4.1 | — | 11.6 | 90.5 | 22.3 |
Share price return
Finished calendar years
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Return | -13% | 157% | 86% | -67% | -67% | -15% | -25% | -56% | 239% | 30% |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years.
- 25-to-1 reverse split · 5 Jul 2022
- 50-to-1 reverse split · 24 Oct 2014
- 5-to-1 reverse split · 5 Jun 2006
- 20-to-1 reverse split · 18 Jun 1998
- 4-to-1 reverse split · 1 Feb 1996
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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