A 
49.24
-15.34%
Close of 9 Nov 2026, in USD
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At a glance
Figures in USD, from our data supplier.
Revenue
$829.4m
FY2016FY2025
Net income
−$1.6m
FY2016FY2025
Free cash flow
$156.9m
FY2016FY2025
Shareholders' equity
$466.1m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $829.4m | $3.6m | $240.7m | $243.2m | $138.3m | $88.0m | $168.8m | $16.1m | $31.4m | $158,333 |
| Gross profit | $829.4m | −$15.0m | $228.2m | $243.2m | $138.3m | $88.0m | $168.8m | $16.1m | $31.4m | $158,333 |
| Research and development | $607.2m | $489.2m | $342.3m | $297.3m | $199.0m | $123.5m | $76.6m | $48.3m | $46.3m | $41.5m |
| Operating income | $98.3m | −$602.8m | −$203.5m | −$178.5m | −$149.0m | −$93.2m | $61.2m | −$55.9m | −$37.0m | −$81.7m |
| Net income | −$1.6m | −$599.5m | −$205.3m | −$176.5m | −$140.8m | −$84.6m | $68.0m | −$54.5m | −$34.4m | −$81.7m |
| Diluted earnings per share | -0.01 | -4.80 | -1.91 | -1.66 | -1.35 | -0.82 | 0.70 | -0.57 | -0.46 | -1.14 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | $1.39bn | $1.14bn | $765.6m | $691.9m | $710.1m | $522.5m | $349.8m | $111.6m | $104.0m | $128.2m |
| Cash and short-term investments | $919.4m | $681.0m | $403.6m | $376.4m | $367.8m | $315.5m | $258.7m | $76.5m | $65.6m | $85.4m |
| Total liabilities | $881.9m | $948.7m | $478.4m | $273.6m | $301.3m | $60.7m | $105.8m | $16.4m | $23.2m | $33.2m |
| Debt | $622.3m | $734.5m | — | — | — | — | — | $2.3m | $2.5m | $2.7m |
| Shareholders' equity | $466.1m | $185.4m | $271.3m | $398.5m | $408.8m | $461.8m | $244.6m | $95.8m | $81.4m | $95.6m |
| Shares outstanding | 141m | 125m | 107m | 106m | 105m | 103m | 97m | 96m | 75m | 71m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | $179.6m | −$462.9m | −$153.9m | −$136.1m | $171.3m | −$95.8m | $173.0m | −$47.2m | −$23.9m | −$64.4m |
| Capital spending | −$22.7m | −$141.5m | −$176.7m | −$52.8m | −$23.6m | −$12.0m | −$12.0m | −$1.4m | −$7.9m | −$3.9m |
| Free cash flow | $156.9m | −$604.3m | −$330.6m | −$188.9m | $147.7m | −$107.8m | $161.0m | −$48.6m | −$31.9m | −$68.3m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $75.3m | $73.7m | $264.0m | $256.5m | $27.8m | $542.7m | $2.5m | $23.6m |
| Gross profit | $75.3m | $73.7m | $264.0m | $256.5m | $27.8m | $542.7m | $2.5m | −$5.0m |
| Operating income | −$171.3m | −$141.3m | $40.8m | $44.1m | −$165.7m | $381.2m | −$161.1m | −$165.3m |
| Net income | −$194.3m | −$132.7m | $30.8m | −$23.8m | −$175.2m | $370.4m | −$173.1m | −$170.5m |
| Diluted earnings per share | -1.36 | -0.93 | 0.22 | -0.17 | -1.25 | 2.63 | -1.39 | -1.37 |
| Cash from operations | −$177.0m | $84.0m | $13.0m | $20.0m | −$154.0m | $460.0m | −$146.0m | −$137.0m |
| Capital spending | −$3.0m | −$2.0m | −$2.0m | −$7.0m | −$2.0m | −$5.0m | −$7.0m | −$24.0m |
| Free cash flow | −$180.0m | $82.0m | $11.0m | $13.0m | −$156.0m | $455.0m | −$153.0m | −$161.0m |
| Total assets | $2.11bn | $2.27bn | $1.60bn | $1.39bn | $1.38bn | $1.57bn | $1.01bn | $1.14bn |
| Cash and short-term investments | $1.60bn | $1.78bn | $916.6m | $919.4m | $900.4m | $1.10bn | $552.9m | $681.0m |
| Debt | $864.1m | $889.4m | $210.6m | $262.2m | $247.3m | $280.7m | $416.0m | $399.5m |
| Shareholders' equity | $465.5m | $614.0m | $568.4m | $466.1m | $522.3m | $683.3m | $52.6m | $185.4m |
Financial ratios
Data as of 7 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 100.0% | -423.7% | 94.8% | 100.0% | 100.0% | 100.0% |
| Operating margin | 17.0% | -16336.5% | -78.2% | -73.4% | -101.9% | -105.9% |
| Net margin | -0.2% | -16882.4% | -85.3% | -72.6% | -101.9% | -96.1% |
| Return on equity | -0.3% | -323.3% | -75.7% | -44.3% | -34.5% | -18.3% |
| Return on assets | -0.1% | -52.6% | -26.8% | -25.5% | -19.8% | -16.2% |
| Free cash flow yield | 2.3% | -4.2% | 0.3% | -1.3% | 3.0% | -1.3% |
| Revenue growth | 23258.2% | -98.5% | -1.0% | 75.9% | 57.2% | -47.9% |
| Earnings growth | -99.7% | 192.0% | 16.3% | 25.3% | 66.6% | -224.4% |
| Current ratio | 4.86x | 6.74x | 3.98x | 2.92x | 2.62x | 7.92x |
| Debt to equity | 0.56x | 2.15x | 0.04x | 0.01x | 0.01x | 0.00x |
| Equity ratio | 33.6% | 16.3% | 35.4% | 57.6% | 57.6% | 88.4% |
| Interest coverage | 1.58x | -17.93x | -10.27x | -35.47x | -23.01x | -0.01x |
| R&D as a share of sales | 73.2% | 13776.9% | 142.2% | 122.2% | 149.2% | 140.4% |
| Buybacks as a share of market value | -12.7% | -16.2% | -1.3% | -1.4% | -1.7% | -5.8% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 50.5% | 56.6% | 115.6% |
| Net income | -79.0% | -54.6% | -33.2% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 97.8% | 97.6% | 98.0% | 98.2% |
| Operating margin | -60.6% | -67.3% | -73.1% | -76.0% |
| Net margin | -72.2% | -74.6% | -78.3% | -79.7% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -5727.4 | -3.9 | -16.0 | -24.4 | -49.2 | -93.3 | 90.6 | -21.8 | -8.0 | -1.4 |
| Price to sales | 11.3 | — | 13.7 | 17.7 | 50.1 | 89.6 | 36.5 | 73.5 | 8.8 | — |
Market value over time
31 Aug 2016 to 6 Oct 2026, in USD
$415.8m$8.82bn
Share price return
Finished calendar years
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Return | 226% | -32% | -3% | -56% | -14% | 29% | 393% | 275% | 177% | -37% |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years.
- 10-to-1 reverse split · 17 Nov 2011
- 65-to-1 reverse split · 15 Jan 2004
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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