C 
0.84
+10.29%
Close of 9 Nov 2026, in USD
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Reference data, closing prices and charts across 45,000 companies, plus crypto, commodities and currencies.
At a glance
Figures in USD, from our data supplier.
Revenue
—
FY2018FY2025
Net income
−$66.5m
FY2018FY2025
Free cash flow
−$49.2m
FY2018FY2025
Shareholders' equity
$196.8m
FY2018FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | — | $850,000 | — | — | — | — | — | — |
| Gross profit | −$1.5m | $850,000 | −$1.9m | −$1.9m | −$1.6m | −$2.4m | −$2.1m | −$1.9m |
| Research and development | $56.0m | $42.3m | $38.1m | $30.0m | $20.3m | $14.9m | $22.4m | $27.1m |
| Operating income | −$72.8m | −$56.6m | −$50.4m | −$41.7m | −$81.8m | −$28.6m | −$34.2m | −$38.3m |
| Net income | −$66.5m | −$49.4m | −$42.5m | −$39.2m | −$82.2m | −$29.5m | −$34.7m | −$38.3m |
| Diluted earnings per share | -0.36 | -0.36 | -0.33 | -0.37 | -1.58 | -0.48 | -0.57 | -7.66 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Total assets | $219.6m | $140.4m | $156.9m | $199.6m | $153.8m | $51.9m | $30.4m | $64.6m |
| Cash and short-term investments | $208.9m | $126.7m | $152.5m | $186.6m | $144.5m | $47.1m | $25.3m | $57.5m |
| Total liabilities | $22.8m | $15.2m | $8.3m | $18.0m | $13.7m | $12.0m | $149.0m | $149.4m |
| Debt | $1.0m | — | — | — | — | $9.3m | $14.9m | $14.8m |
| Shareholders' equity | $196.8m | $125.2m | $148.5m | $181.6m | $140.1m | $39.9m | −$118.6m | −$84.8m |
| Shares outstanding | 185m | 137m | 128m | 105m | 52m | 61m | 61m | 5m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | −$49.1m | −$44.9m | −$40.6m | −$34.1m | −$19.7m | −$26.8m | −$31.7m | −$33.7m |
| Capital spending | −$25,000 | −$44,000 | −$30,000 | −$212,000 | −$1.6m | −$106,000 | −$466,000 | −$2.0m |
| Free cash flow | −$49.2m | −$44.9m | −$40.6m | −$34.3m | −$21.2m | −$26.9m | −$32.2m | −$35.7m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Gross profit | — | −$368,000 | −$370,000 | — | −$367,000 | — | — | — |
| Operating income | −$27.0m | −$20.3m | −$18.0m | −$15.8m | −$21.1m | −$18.0m | −$16.6m | −$12.2m |
| Net income | −$25.2m | −$18.3m | −$15.7m | −$14.3m | −$19.9m | −$16.6m | −$15.0m | −$10.5m |
| Diluted earnings per share | -0.13 | -0.10 | -0.09 | -0.08 | -0.11 | -0.09 | -0.11 | -0.08 |
| Cash from operations | −$13.0m | −$17.0m | −$13.0m | −$10.0m | −$11.0m | −$13.0m | −$9.0m | −$11.0m |
| Total assets | $190.2m | $205.2m | $219.6m | $231.3m | $116.7m | $131.5m | $140.4m | $149.2m |
| Cash and short-term investments | $179.9m | $194.7m | $208.9m | $219.9m | $100.9m | $112.6m | $126.7m | $135.4m |
| Debt | $1.6m | $1.4m | $1.0m | $633,000 | $271,000 | $109,000 | $338,000 | $557,000 |
| Shareholders' equity | $166.0m | $186.5m | $196.8m | $209.6m | $93.2m | $110.3m | $125.2m | $138.4m |
Financial ratios
Data as of 5 Nov 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Gross margin | — | 100.0% | — | — | — | — | — | — |
| Operating margin | — | -5808.8% | — | — | — | — | — | — |
| Net margin | — | -5808.8% | — | — | — | — | — | — |
| Return on equity | -33.8% | -39.4% | -28.6% | -21.6% | -58.7% | -73.9% | — | — |
| Return on assets | -30.3% | -35.2% | -27.1% | -19.6% | -53.4% | -56.8% | — | — |
| Free cash flow yield | -34.8% | -43.0% | -41.7% | -42.3% | -45.7% | -57.3% | — | — |
| Earnings growth | 34.7% | 16.2% | 8.3% | -52.3% | 178.6% | -15.1% | — | — |
| Current ratio | 15.02x | 14.96x | 19.73x | 12.05x | 13.84x | 4.97x | — | — |
| Debt to equity | 0.01x | 0.00x | 0.01x | 0.01x | 0.01x | 0.23x | — | — |
| Equity ratio | 89.6% | 89.2% | 94.7% | 91.0% | 91.1% | 76.9% | — | — |
| Interest coverage | — | — | — | -15.62x | -221.11x | -30.63x | -27.73x | -49.09x |
| R&D as a share of sales | — | 4981.4% | — | — | — | — | — | — |
| Buybacks as a share of market value | -35.3% | -7.0% | -21.4% | -102.6% | 15.1% | 0.0% | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Operating income | 20.5% | 20.5% | — |
| Net income | 19.2% | 17.6% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Price to earnings | -5.3 | -1.4 | -1.7 | -4.8 | -0.7 |
| Price to sales | — | 82.9 | — | — | — |
Market value over time
30 Nov 2001 to 4 Nov 2026, in USD
$17.0m$142.5m
Share price return
Finished calendar years
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Return | 255% | -11% | -66% | 53% | -64% |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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