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At a glance
Figures in USD, from our data supplier.
Revenue
$96.2m
FY2016FY2025
Net income
−$12.1m
FY2016FY2025
Free cash flow
$416,000
FY2016FY2025
Shareholders' equity
$371.9m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $96.2m | $82.3m | $68.0m | $76.2m | $119.2m | $48.1m | $27.4m | $19.7m | $11.0m | $8.2m |
| Research and development | $7.6m | $7.9m | $18.8m | $14.8m | $11.8m | $6.7m | $4.1m | $1.3m | $1.2m | $2.0m |
| Operating income | −$1.1m | −$7.1m | −$70.8m | −$5.9m | −$35.2m | −$3.3m | −$781,000 | $3.7m | −$1.1m | −$7.6m |
| Net income | −$12.1m | −$20.2m | −$66.4m | −$139.8m | −$8.9m | $2.7m | −$1.7m | $3.3m | −$2.5m | −$6.9m |
| Diluted earnings per share | -0.25 | -0.42 | -1.48 | -3.27 | -0.21 | 0.08 | -0.07 | 0.14 | -0.18 | -0.54 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | $405.9m | $399.5m | $412.7m | $450.2m | $552.6m | $234.8m | $93.0m | $45.5m | $12.1m | $7.9m |
| Cash and short-term investments | $88.9m | $104.6m | $44.2m | $62.7m | $69.9m | $90.5m | $6.4m | $30.7m | $6.7m | $1.4m |
| Total liabilities | $34.0m | $50.6m | $75.1m | $86.0m | $76.2m | $29.6m | $10.0m | $2.3m | $2.1m | $4.8m |
| Debt | $5.0m | $15.9m | $26.7m | $25.9m | $7.7m | $1.3m | — | — | — | $2.8m |
| Shareholders' equity | $371.9m | $348.9m | $337.7m | $364.2m | $480.8m | $205.2m | $83.0m | $43.1m | $10.1m | $3.2m |
| Shares outstanding | 49m | 48m | 45m | 43m | 42m | 33m | 23m | 24m | 14m | 13m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | $20.1m | $8.4m | −$12.5m | −$8.5m | −$4.8m | $6.5m | $1.2m | $2.3m | $605,000 | −$4.3m |
| Capital spending | −$19.7m | −$3.2m | −$6.4m | −$10.4m | −$8.4m | −$4.6m | −$675,000 | −$500,000 | −$143,767 | −$1.3m |
| Free cash flow | $416,000 | $5.2m | −$18.9m | −$18.9m | −$13.2m | $1.9m | $538,000 | $1.8m | $461,233 | −$5.6m |
| Dividends paid | — | — | — | — | — | — | — | −$436,000 | −$106,250 | −$106,000 |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $28.5m | $27.5m | $18.8m | $28.1m | $25.4m | $23.9m | −$3.4m | $30.6m |
| Operating income | $1.7m | $27,000 | $5.8m | −$89,000 | −$16.6m | −$1.2m | $1.4m | −$1.5m |
| Net income | $45.1m | $1.2m | $3.5m | $621,000 | −$15.8m | −$448,000 | $12.5m | −$1.7m |
| Diluted earnings per share | 0.91 | 0.02 | 0.07 | 0.01 | -0.33 | -0.01 | 0.26 | -0.04 |
| Cash from operations | $6.0m | — | $4.0m | $6.0m | $7.0m | $1.0m | $1.0m | $4.0m |
| Capital spending | — | — | −$14.0m | −$3.0m | −$1.0m | — | −$1.0m | −$1.0m |
| Free cash flow | — | — | −$10.0m | $3.0m | $6.0m | — | $0 | $3.0m |
| Total assets | $447.5m | $400.9m | $405.9m | $392.1m | $387.2m | $395.1m | $399.5m | $381.7m |
| Cash and short-term investments | $82.4m | $81.0m | $88.9m | $79.0m | $81.8m | $88.6m | $104.6m | $34.2m |
| Debt | $2.6m | $4.8m | $7.2m | $9.7m | $12.2m | $14.8m | $17.5m | $23.2m |
| Shareholders' equity | $420.0m | $372.2m | $371.9m | $353.7m | $347.2m | $352.6m | $348.9m | $325.5m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 8.1% | 14.9% | 31.0% |
| Operating income | -43.3% | -20.2% | -14.2% |
| Net income | -55.7% | — | 11.2% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -4.6% | -26.3% | -25.2% | -23.9% |
| Net margin | -18.1% | -73.9% | -50.0% | -45.6% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -97.0 | -61.8 | -11.0 | -5.6 | -174.4 | 493.0 | -223.6 | 87.4 | -32.8 | -3.0 |
| Price to sales | 12.2 | 15.2 | 10.7 | 10.2 | 13.0 | 27.3 | 13.5 | 14.5 | 7.5 | 2.5 |
Share price return
Finished calendar years
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Return | 1% | 58% | -10% | -52% | -18% | 190% | 58% | 67% | 259% | -20% |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years.
- 14-to-1 reverse split · 29 Jan 2014
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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