A 
16.72
+7.52%
Close of 9 Nov 2026, in USD
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At a glance
Figures in USD, from our data supplier.
Revenue
$611.3m
FY2020FY2026
Net income
−$244.0m
FY2020FY2026
Free cash flow
−$2.78bn
FY2020FY2026
Shareholders' equity
$1.78bn
FY2020FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|---|
| Revenue | $611.3m | $215.5m | $136.6m | $55.4m | $8.5m | — | — |
| Research and development | — | — | $169,000 | — | — | — | — |
| Operating income | −$236.4m | −$72.3m | −$15.1m | −$44.1m | −$20.9m | −$332,000 | −$263,000 |
| Net income | −$244.0m | −$231.1m | −$149.3m | −$45.6m | −$23.5m | −$568,000 | −$263,000 |
| Diluted earnings per share | -0.84 | -0.83 | -0.71 | -0.42 | -0.25 | -0.01 | -0.17 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|---|
| Total assets | $9.93bn | $1.87bn | $762.9m | $264.0m | $120.0m | $15.1m | $6.4m |
| Cash and short-term investments | $1.59bn | $113.9m | $3.3m | $29.0m | $38.8m | $11.8m | $996,570 |
| Total liabilities | $6.19bn | $1.24bn | $638.0m | $194.3m | $40.7m | $17.6m | $2.0m |
| Debt | $5.10bn | $702.9m | $135.7m | $91.8m | $13.5m | $2.1m | $1.9m |
| Shareholders' equity | $1.78bn | $633.7m | $124.8m | $59.5m | $72.3m | −$2.6m | $4.4m |
| Shares outstanding | 292m | 277m | 210m | 110m | 93m | 53m | 2m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|---|
| Cash from operations | $89.7m | −$115.4m | $13.8m | $58.7m | −$872,000 | −$83,000 | −$83,000 |
| Capital spending | −$2.87bn | −$681.6m | −$141.8m | −$131.3m | −$58.3m | −$3.3m | −$3.3m |
| Free cash flow | −$2.78bn | −$797.0m | −$128.0m | −$72.5m | −$59.1m | −$3.4m | −$3.4m |
| Dividends paid | −$6.3m | −$2.6m | — | — | −$11.0m | — | — |
Latest quarters
By quarter end
| Aug 2026 | May 2026 | Feb 2026 | Nov 2025 | Aug 2025 | May 2025 | Feb 2025 | Nov 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $341.9m | $258.7m | $126.6m | $126.6m | $64.2m | $38.0m | $52.9m | $63.9m |
| Operating income | −$62.4m | −$117.0m | −$25.9m | −$31.0m | −$20.5m | −$20.3m | −$18.9m | −$18.3m |
| Net income | −$235.5m | −$110.0m | −$99.3m | −$17.5m | −$16.9m | −$52.5m | −$35.6m | −$138.7m |
| Diluted earnings per share | -0.81 | -0.38 | -0.34 | -0.06 | -0.06 | -0.19 | -0.13 | -0.66 |
| Cash from operations | $63.0m | $132.0m | $55.0m | −$15.0m | −$82.0m | $6.0m | $5.0m | −$52.0m |
| Capital spending | −$2.07bn | −$1.29bn | −$775.0m | −$552.0m | −$249.0m | −$198.0m | −$257.0m | −$171.0m |
| Free cash flow | −$2.01bn | −$1.16bn | −$720.0m | −$567.0m | −$331.0m | −$192.0m | −$252.0m | −$223.0m |
| Total assets | $11.71bn | $9.93bn | $6.25bn | $5.23bn | $2.40bn | $1.87bn | $1.71bn | $1.54bn |
| Cash and short-term investments | $2.95bn | $1.59bn | $1.73bn | $1.91bn | $73.9m | $41.6m | $68.7m | $286.2m |
| Debt | $175.3m | $5.04bn | $2.76bn | $2.61bn | $700.0m | $702.5m | $856.8m | $639.2m |
| Shareholders' equity | $1.78bn | $1.78bn | $1.58bn | $1.45bn | $1.04bn | $633.7m | $497.9m | $434.6m |
Financial ratios
Data as of 6 Oct 2026
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2008 | FY2007 | FY2006 | FY2005 | FY2004 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating margin | -24.9% | -81.4% | -40.7% | -79.5% | -255.4% | — | -973.1% | — | — | — | — |
| Net margin | -39.9% | -107.2% | -109.3% | -82.3% | -275.1% | — | -975.2% | — | — | — | — |
| Return on equity | -13.7% | -36.5% | -119.6% | -76.6% | -32.5% | 22.0% | — | — | — | — | — |
| Return on assets | -2.5% | -12.4% | -19.6% | -17.3% | -19.6% | -3.8% | — | — | — | — | — |
| Free cash flow yield | 41.9% | 8.3% | 3.0% | 7.0% | 2.5% | 0.2% | — | — | — | — | — |
| Revenue growth | 183.7% | 57.7% | 146.6% | 547.9% | — | — | -78.2% | -60.0% | — | — | — |
| Earnings growth | 5.6% | 54.8% | 227.3% | 93.9% | 4040.8% | 116.0% | — | — | — | — | — |
| Current ratio | 4.01x | 0.77x | 0.73x | 0.40x | 1.39x | 4.70x | — | — | — | — | — |
| Debt to equity | 2.83x | 1.11x | 1.05x | 1.39x | 0.11x | -0.83x | — | — | — | — | — |
| Equity ratio | 17.9% | 33.9% | 16.4% | 22.5% | 60.2% | -17.2% | — | — | — | — | — |
| Interest coverage | -5.15x | -9.82x | -2.99x | -22.25x | -194.95x | -1.41x | — | — | — | — | — |
| R&D as a share of sales | — | — | 0.1% | — | — | — | 84.5% | 8.4% | 27.2% | 16.8% | 4.8% |
| Buybacks as a share of market value | -3.0% | -32.4% | -91.1% | -17.4% | -75.0% | -3433.6% | — | — | — | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 122.6% | — | 68.5% |
| Operating income | 75.1% | 272.0% | 64.7% |
| Net income | 74.9% | 236.2% | 67.4% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -37.3% | -36.1% | — | — |
| Net margin | -57.5% | -65.8% | — | — |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Price to earnings | -19.9 | -29.4 | -6.9 | -10.4 | -4.7 |
| Price to sales | 7.9 | 31.6 | 7.5 | 8.6 | 12.9 |
Market value over time
28 Nov 2016 to 5 Oct 2026, in USD
$116,282$7.06bn
Share price return
Finished calendar years
| 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|
| Return | 326% | 30% | 348% | -34% |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years.
- 6-to-1 reverse split · 13 Apr 2022
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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