C 
55.14
+2.70%
Close of 9 Nov 2026, in USD
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At a glance
Figures in USD, from our data supplier.
Revenue
$88.0m
FY2016FY2025
Net income
−$785.0m
FY2016FY2025
Free cash flow
−$534.8m
FY2016FY2025
Shareholders' equity
−$659.6m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $88.0m | $18.5m | $7.5m | $94.6m | $70.4m | $55.8m | $26.9m | $31.5m | $13.4m | $106.4m |
| Gross profit | $77.9m | −$320.9m | −$322.6m | −$146.2m | −$89.5m | −$41.1m | −$59.3m | −$57.6m | −$76.9m | $46.5m |
| Research and development | $405.9m | $339.4m | $330.1m | $240.8m | $159.9m | $97.0m | $86.1m | $89.1m | $90.3m | $59.9m |
| Operating income | −$729.5m | −$554.5m | −$495.3m | −$349.1m | −$186.3m | −$93.9m | −$98.9m | −$88.9m | −$113.4m | $18.7m |
| Net income | −$785.0m | −$589.5m | −$526.2m | −$389.0m | −$215.3m | −$127.3m | −$121.7m | −$106.3m | −$127.8m | $16.5m |
| Diluted earnings per share | -6.41 | -4.99 | -5.31 | -4.11 | -2.56 | -1.80 | -2.05 | -1.94 | -2.37 | 0.38 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | $1.42bn | $1.40bn | $824.3m | $1.01bn | $841.3m | $533.8m | $289.8m | $211.2m | $294.8m | $170.1m |
| Cash and short-term investments | $882.2m | $1.08bn | $614.8m | $782.6m | $471.6m | $464.1m | $225.1m | $198.7m | $268.9m | $156.2m |
| Total liabilities | $2.08bn | $1.54bn | $1.21bn | $1.12bn | $597.5m | $420.4m | $300.8m | $185.2m | $185.0m | $75.8m |
| Debt | $1.18bn | $657.1m | $618.6m | $611.6m | $144.1m | $135.7m | $129.3m | $42.4m | $31.8m | $29.9m |
| Shareholders' equity | −$659.6m | −$135.4m | −$386.3m | −$107.9m | $243.9m | $113.4m | −$10.9m | $25.9m | $109.8m | $94.4m |
| Shares outstanding | 122m | 118m | 99m | 95m | 84m | 71m | 59m | 55m | 54m | 44m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −$510.0m | −$395.9m | −$414.3m | −$299.5m | −$142.5m | $8.9m | −$90.9m | −$101.2m | −$101.8m | $37.0m |
| Capital spending | −$24.8m | −$3.9m | −$1.4m | −$11.3m | −$48.9m | −$11.1m | −$2.6m | −$889,000 | −$2.9m | −$1.6m |
| Free cash flow | −$534.8m | −$399.8m | −$415.7m | −$310.9m | −$191.4m | −$2.1m | −$93.5m | −$102.1m | −$104.6m | $35.4m |
| Dividends paid | — | — | −$18.5m | — | — | — | — | — | — | — |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $31.9m | $19.4m | $17.8m | $1.9m | $66.8m | $1.6m | $16.9m | $463,000 |
| Gross profit | $29.2m | $17.0m | $14.9m | −$743,000 | $64.5m | −$98.3m | −$76.7m | −$84.1m |
| Operating income | −$177.9m | −$183.7m | −$183.0m | −$279.9m | −$110.1m | −$152.1m | −$142.4m | −$155.3m |
| Net income | −$198.8m | −$206.0m | −$183.0m | −$306.2m | −$134.4m | −$161.4m | −$150.0m | −$160.5m |
| Diluted earnings per share | -1.50 | -1.56 | -1.49 | -2.50 | -1.10 | -1.32 | -1.27 | -1.36 |
| Cash from operations | −$159.0m | −$145.0m | −$142.0m | −$107.0m | −$128.0m | −$131.0m | −$65.0m | −$101.0m |
| Capital spending | −$4.0m | −$5.0m | −$5.0m | −$9.0m | −$4.0m | −$5.0m | −$1.0m | −$2.0m |
| Free cash flow | −$163.0m | −$150.0m | −$147.0m | −$116.0m | −$132.0m | −$136.0m | −$66.0m | −$103.0m |
| Total assets | $1.92bn | $1.27bn | $1.42bn | $1.44bn | $1.23bn | $1.26bn | $1.40bn | $1.44bn |
| Cash and short-term investments | $1.17bn | $818.5m | $882.2m | $962.5m | $858.1m | $938.2m | $1.08bn | $1.01bn |
| Debt | $1.17bn | $1.18bn | $1.18bn | $1.09bn | $747.0m | $677.7m | $676.1m | $674.9m |
| Shareholders' equity | −$173.5m | −$826.6m | −$659.6m | −$521.1m | −$368.7m | −$266.4m | −$135.4m | −$13.9m |
Financial ratios
Data as of 8 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 88.5% | -1737.2% | -4284.1% | -154.6% | -127.1% | -73.7% |
| Operating margin | -891.6% | -2722.8% | -6222.8% | -357.1% | -264.1% | -158.7% |
| Net margin | -891.6% | -3191.1% | -6988.6% | -411.2% | -305.7% | -228.0% |
| Return on equity | 119.0% | 435.5% | 136.2% | 360.5% | -88.3% | -112.3% |
| Return on assets | -55.1% | -42.1% | -63.8% | -38.3% | -25.6% | -23.8% |
| Free cash flow yield | -6.5% | -5.4% | -6.8% | -5.0% | -1.8% | 0.5% |
| Revenue growth | 376.6% | 145.3% | -92.0% | 34.3% | 26.2% | 107.8% |
| Earnings growth | 33.2% | 12.0% | 35.3% | 80.6% | 69.2% | 4.6% |
| Current ratio | 4.53x | 6.17x | 6.12x | 9.40x | 7.45x | 15.20x |
| Debt to equity | -1.78x | -4.99x | -1.64x | -0.72x | 0.26x | 0.43x |
| Equity ratio | -46.3% | -9.7% | -46.9% | -10.6% | 29.0% | 21.2% |
| Interest coverage | -7.56x | -5.81x | -8.13x | -6.60x | -6.34x | -2.29x |
| R&D as a share of sales | 461.0% | 1837.2% | 4384.1% | 254.6% | 227.1% | 173.7% |
| Buybacks as a share of market value | -3.7% | -19.2% | -4.6% | -12.6% | -18.7% | -19.5% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -2.4% | 9.5% | 11.9% |
| Operating income | 27.8% | 50.7% | 34.6% |
| Net income | 26.4% | 43.9% | 35.5% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | -228.2% | -341.2% | -251.6% | -186.0% |
| Operating margin | -1205.5% | -1020.2% | -719.3% | -503.7% |
| Net margin | -1290.4% | -1097.5% | -786.0% | -555.5% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -9.9 | -9.4 | -15.7 | -11.2 | -17.8 | -11.6 | -3.0 | -1.9 | -2.0 | 18.7 |
| Price to sales | 88.4 | 300.6 | — | 45.9 | 54.4 | 26.4 | 13.5 | 6.3 | 19.0 | 2.9 |
Market value over time
31 Oct 2016 to 7 Oct 2026, in USD
$417.1m$8.07bn
Share price return
Finished calendar years
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Return | 34% | 26% | -16% | 11% | 93% | 237% | 68% | -25% | -31% | 21% |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years.
- 6-to-1 reverse split · 25 Jun 2013
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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