D 
90.00
+4.61%
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
$2.0m
FY2016FY2025
Net income
−$162.3m
FY2016FY2025
Free cash flow
−$129.3m
FY2016FY2025
Shareholders' equity
$493.4m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.0m | $6.2m | $2.8m | $6.4m | $1.5m | — | — | — | — | — |
| Gross profit | $2.0m | $6.2m | $2.8m | $6.4m | $1.5m | −$2.0m | −$1.8m | −$875,000 | −$376,000 | −$6,000 |
| Research and development | $145.6m | $83.1m | $32.8m | $29.4m | $12.6m | $48.6m | $57.4m | $41.3m | $27.9m | $5.8m |
| Operating income | −$177.9m | −$101.9m | −$48.2m | −$29.7m | −$13.1m | −$78.7m | −$83.0m | −$60.0m | −$35.7m | −$9.3m |
| Net income | −$162.3m | −$85.0m | −$43.6m | −$28.5m | −$13.1m | −$74.9m | −$76.8m | −$57.5m | −$35.5m | −$9.4m |
| Diluted earnings per share | -4.30 | -2.43 | -9.61 | -7.51 | -3.57 | -24.70 | -31.44 | -27.71 | -16.51 | -4.27 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | $530.9m | $374.0m | $179.4m | $83.1m | $189.9m | $161.6m | $161.5m | $157.3m | $54.5m | $11.3m |
| Cash and short-term investments | $404.3m | $275.2m | $173.7m | $75.5m | $176.9m | $148.8m | $145.7m | $142.6m | $51.6m | $4.5m |
| Total liabilities | $37.5m | $21.5m | $10.5m | $9.5m | $17.3m | $17.7m | $20.3m | $11.7m | $4.1m | $2.3m |
| Shareholders' equity | $493.4m | $352.5m | $168.9m | $73.7m | $172.7m | $143.9m | $141.2m | $145.6m | $50.3m | $9.0m |
| Shares outstanding | 38m | 35m | 5m | 4m | 4m | 3m | 2m | 2m | 2m | 2m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −$129.1m | −$78.2m | −$36.9m | −$29.1m | −$59.5m | −$64.0m | −$57.1m | −$41.9m | −$22.3m | −$6.5m |
| Capital spending | −$213,000 | −$105,000 | −$110,000 | −$139,000 | −$1.3m | −$400,000 | −$3.1m | −$7.7m | −$2.2m | −$139,000 |
| Free cash flow | −$129.3m | −$78.3m | −$37.0m | −$29.2m | −$60.8m | −$64.4m | −$60.2m | −$49.6m | −$24.5m | −$6.7m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $761,000 | $463,000 | $284,000 | $396,000 | $193,000 | $1.2m | $1.3m | $2.2m |
| Gross profit | $761,000 | $387,000 | $284,000 | $396,000 | $193,000 | $1.2m | $1.3m | $2.2m |
| Operating income | −$61.5m | −$46.5m | −$69.5m | −$40.3m | −$34.9m | −$33.2m | −$31.9m | −$29.9m |
| Net income | −$50.2m | −$40.8m | $97.9m | −$36.8m | −$31.6m | −$29.5m | −$28.4m | −$25.2m |
| Diluted earnings per share | -0.90 | -0.73 | 2.59 | -0.97 | -0.84 | -0.78 | -0.81 | -0.72 |
| Cash from operations | −$48.0m | −$28.0m | −$46.0m | −$30.0m | −$23.0m | −$27.0m | −$27.0m | −$21.0m |
| Total assets | $1.21bn | $1.25bn | $530.9m | $577.4m | $326.1m | $348.6m | $374.0m | $354.2m |
| Cash and short-term investments | $886.8m | $1.11bn | $404.3m | $402.6m | $257.4m | $263.2m | $275.2m | $281.1m |
| Debt | $374,000 | $399,000 | $367,000 | $217,000 | $211,000 | $226,000 | $320,000 | $311,000 |
| Shareholders' equity | $1.17bn | $1.20bn | $493.4m | $546.5m | $303.1m | $328.6m | $352.5m | $337.9m |
Financial ratios
Data as of 22 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2016 | |
|---|---|---|---|---|---|---|---|
| Gross margin | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | — | — |
| Operating margin | -7973.3% | -1362.8% | -1541.2% | -443.8% | -888.1% | — | — |
| Net margin | -7973.3% | -1362.8% | -1541.2% | -443.8% | -888.1% | — | — |
| Return on equity | -32.9% | -24.1% | -25.8% | -38.7% | -7.6% | -52.1% | — |
| Return on assets | -30.6% | -22.7% | -24.3% | -34.3% | -6.9% | -46.4% | — |
| Free cash flow yield | -4.4% | -2.9% | -10.4% | -9.8% | -20.3% | -26.9% | — |
| Revenue growth | -67.3% | 120.6% | -56.0% | 334.8% | — | — | — |
| Earnings growth | 91.1% | 95.1% | 53.0% | 117.2% | -82.5% | -2.4% | — |
| Current ratio | 13.32x | 15.22x | 18.42x | 9.97x | 16.63x | 13.26x | — |
| Debt to equity | 0.00x | 0.00x | 0.00x | 0.00x | — | — | — |
| Equity ratio | 92.9% | 94.2% | 94.1% | 88.6% | 90.9% | 89.0% | — |
| Interest coverage | — | — | — | — | -3.69x | -19.90x | -56.86x |
| R&D as a share of sales | 7153.1% | 1332.9% | 1162.1% | 457.8% | 854.1% | — | — |
| Buybacks as a share of market value | -7.9% | -673.3% | -19.5% | -3.2% | -21.1% | -24.2% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -31.8% | — | — |
| Operating income | 81.6% | 17.7% | — |
| Net income | 78.6% | 16.7% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 100.0% | 100.0% | — | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Price to earnings | -9.6 | -9.0 | -1.1 | -0.8 | -9.3 | -2.4 | -3.6 | -1.6 |
| Price to sales | — | 122.5 | 16.7 | 3.8 | 82.9 | — | — | — |
Market value over time
29 Jun 2018 to 21 Oct 2026, in USD
$27.0m$4.38bn
Share price return
Finished calendar years
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|
| Return | 79% | 236% | 11% | -84% | -36% | -46% | 147% | -60% |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years.
- 16-to-1 reverse split · 12 Sept 2023
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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