A 
4.65
+5.44%
Close of 9 Nov 2026, in USD
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At a glance
Figures in USD, from our data supplier.
Revenue
$3.0m
FY2019FY2025
Net income
−$816.0m
FY2019FY2025
Free cash flow
−$612.0m
FY2019FY2025
Shareholders' equity
$2.14bn
FY2019FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Revenue | $3.0m | — | — | $68.0m | $82.0m | — | $19.6m |
| Research and development | $745.0m | $676.0m | $716.0m | $677.0m | $697.0m | $179.0m | $107.4m |
| Operating income | −$901.0m | −$786.0m | −$835.0m | −$1.85bn | −$731.0m | −$218.0m | −$113.5m |
| Net income | −$816.0m | −$748.0m | −$796.0m | −$1.72bn | −$755.0m | −$214.0m | −$94.1m |
| Diluted earnings per share | -0.42 | -0.43 | -0.52 | -1.48 | -0.67 | -0.30 | -0.37 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Total assets | $2.34bn | $2.14bn | $2.23bn | $2.00bn | $3.69bn | $618.9m | $711.6m |
| Cash and short-term investments | $1.28bn | $1.22bn | $1.20bn | $1.10bn | $1.61bn | $387.3m | $596.4m |
| Total liabilities | $203.0m | $263.0m | $250.0m | $217.0m | $348.0m | $132.2m | $30.0m |
| Shareholders' equity | $2.14bn | $1.88bn | $1.99bn | $1.78bn | $3.34bn | $486.7m | $681.6m |
| Shares outstanding | 1,935m | 1,722m | 1,521m | 1,162m | 1,123m | 712m | 254m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Cash from operations | −$581.0m | −$611.0m | −$598.0m | −$508.0m | −$563.3m | −$191.9m | −$94.7m |
| Capital spending | −$31.0m | −$34.0m | −$15.0m | −$15.0m | −$48.1m | −$6.7m | −$3.8m |
| Free cash flow | −$612.0m | −$645.0m | −$613.0m | −$523.0m | −$611.3m | −$198.6m | −$98.6m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $2.0m | $1.0m | $1.0m | $1.0m | $1.0m | — | — | — |
| Operating income | −$266.0m | −$244.0m | −$238.0m | −$222.0m | −$230.0m | −$211.0m | −$199.0m | −$196.0m |
| Net income | −$270.0m | −$223.0m | −$206.0m | −$201.0m | −$201.0m | −$208.0m | −$193.0m | −$208.0m |
| Diluted earnings per share | -0.14 | -0.11 | -0.11 | -0.10 | -0.10 | -0.11 | -0.11 | -0.12 |
| Cash from operations | −$225.0m | −$159.0m | −$146.0m | −$149.0m | −$144.0m | −$142.0m | −$142.0m | −$143.0m |
| Capital spending | −$31.0m | −$25.0m | −$8.0m | −$8.0m | −$7.0m | −$8.0m | −$8.0m | −$7.0m |
| Free cash flow | −$256.0m | −$184.0m | −$154.0m | −$157.0m | −$151.0m | −$150.0m | −$150.0m | −$150.0m |
| Total assets | $2.17bn | $2.19bn | $2.34bn | $2.51bn | $2.21bn | $2.07bn | $2.14bn | $2.27bn |
| Cash and short-term investments | $1.22bn | $1.23bn | $1.28bn | $1.25bn | $1.31bn | $1.16bn | $1.22bn | $1.25bn |
| Debt | $12.0m | $12.0m | $11.0m | $12.0m | $13.0m | $16.0m | $16.0m | $15.0m |
| Shareholders' equity | $1.95bn | $1.96bn | $2.14bn | $2.29bn | $1.99bn | $1.78bn | $1.88bn | $2.02bn |
Financial ratios
Data as of 7 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Operating margin | -27200.0% | — | — | -1085.3% | -926.8% | — | -579.1% |
| Net margin | -27200.0% | — | — | -2533.8% | -920.7% | — | -480.0% |
| Return on equity | -38.1% | -39.9% | -40.1% | -96.6% | -22.6% | -44.0% | — |
| Return on assets | -34.8% | -35.0% | -35.6% | -86.1% | -20.5% | -34.6% | — |
| Free cash flow yield | -4.9% | -5.8% | -6.7% | -7.4% | -8.0% | -4.5% | — |
| Revenue growth | — | — | — | -17.1% | — | — | — |
| Earnings growth | 9.1% | -6.0% | -53.8% | 128.2% | 252.8% | 127.5% | — |
| Current ratio | 11.86x | 11.94x | 10.96x | 13.47x | 18.43x | 12.72x | — |
| Debt to equity | 0.01x | 0.01x | 0.01x | 0.01x | 0.00x | 0.01x | — |
| Equity ratio | 91.3% | 87.7% | 88.8% | 89.2% | 90.6% | 78.6% | — |
| Interest coverage | — | — | — | -0.74x | -14.09x | -59.37x | -9.73x |
| R&D as a share of sales | 24833.3% | — | — | 995.6% | 850.0% | — | 547.8% |
| Buybacks as a share of market value | -12.4% | -13.2% | -30.9% | -3.4% | -57.8% | -180.3% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -64.7% | — | — |
| Operating income | -21.4% | 32.8% | — |
| Net income | -22.1% | 30.7% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Price to earnings | -9.1 | -14.5 | -8.3 | -0.8 | -16.8 |
| Price to sales | — | — | — | 20.7 | 154.3 |
Market value over time
28 May 2021 to 6 Oct 2026, in USD
$11.00bn$11.36bn
Share price return
Finished calendar years
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Return | -42% | 65% | 255% | -90% | 24% |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years.
- 1-to-1 reverse split · 4 Nov 2021
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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