I 
35.34
+8.34%
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
$130.0m
FY2019FY2025
Net income
−$510.4m
FY2019FY2025
Free cash flow
−$299.6m
FY2019FY2025
Shareholders' equity
$3.80bn
FY2019FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Revenue | $130.0m | $43.1m | $22.0m | $11.1m | $2.1m | $143,000 | $200,000 |
| Research and development | $305.7m | $136.8m | $92.3m | $44.0m | $20.2m | $10.2m | $6.9m |
| Operating income | −$633.7m | −$232.5m | −$157.8m | −$85.7m | −$38.7m | −$15.7m | −$9.3m |
| Net income | −$510.4m | −$331.6m | −$157.8m | −$48.5m | −$106.2m | −$15.4m | −$8.9m |
| Diluted earnings per share | -1.38 | -1.52 | -0.77 | -0.24 | -0.54 | -0.08 | -2.24 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Total assets | $6.57bn | $508.4m | $553.6m | $598.0m | $642.0m | $60.5m | $65.3m |
| Cash and short-term investments | $2.39bn | $340.3m | $355.4m | $355.8m | $522.5m | $36.1m | $59.5m |
| Total liabilities | $2.76bn | $124.5m | $68.6m | $29.8m | $50.8m | $6.8m | $1.4m |
| Debt | $8.8m | — | — | — | — | — | $133,000 |
| Shareholders' equity | $3.80bn | $383.9m | $485.0m | $568.2m | $591.2m | $53.7m | $64.0m |
| Shares outstanding | 369m | 218m | 205m | 199m | 196m | 192m | 4m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Cash from operations | −$283.2m | −$105.7m | −$78.8m | −$44.7m | −$26.5m | −$12.0m | −$7.7m |
| Capital spending | −$16.4m | −$23.6m | −$19.5m | −$12.6m | −$10.0m | −$11.7m | −$2.4m |
| Free cash flow | −$299.6m | −$129.3m | −$98.4m | −$57.3m | −$36.6m | −$23.7m | −$10.1m |
| Dividends paid | — | — | — | −$905,000 | — | — | — |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $80.0m | $64.7m | $61.9m | $39.9m | $20.7m | $7.6m | $11.7m | $12.4m |
| Operating income | −$337.2m | −$271.5m | −$242.7m | −$168.8m | −$146.5m | −$75.7m | −$77.5m | −$53.1m |
| Net income | −$1.87bn | $805.4m | $703.5m | −$1.05bn | −$176.8m | −$32.3m | −$202.0m | −$52.5m |
| Diluted earnings per share | -5.08 | 2.19 | 1.91 | -2.86 | -0.48 | -0.09 | -0.93 | -0.24 |
| Cash from operations | −$103.0m | −$151.0m | −$74.0m | −$123.0m | −$52.0m | −$33.0m | −$39.0m | −$19.0m |
| Capital spending | −$10.0m | −$8.0m | −$8.0m | −$4.0m | −$2.0m | −$3.0m | −$4.0m | −$5.0m |
| Free cash flow | −$113.0m | −$159.0m | −$82.0m | −$127.0m | −$54.0m | −$36.0m | −$43.0m | −$24.0m |
| Total assets | $6.78bn | $6.69bn | $6.57bn | $4.32bn | $1.35bn | $850.1m | $508.4m | $497.9m |
| Cash and short-term investments | $2.12bn | $2.03bn | $2.39bn | $1.08bn | $543.4m | $588.3m | $340.3m | $301.8m |
| Debt | $11.7m | $9.2m | $8.8m | $8.6m | $5.5m | $3.6m | $3.4m | $3.1m |
| Shareholders' equity | $3.33bn | $4.98bn | $3.80bn | $2.27bn | $1.16bn | $765.0m | $383.9m | $435.7m |
Financial ratios
Data as of 3 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | -487.4% | -539.7% | -715.7% | -770.3% | -1843.1% | -11002.1% |
| Net margin | -392.6% | -770.0% | -715.8% | -435.8% | -5058.9% | -10786.0% |
| Return on equity | -13.4% | -86.4% | -32.5% | -8.5% | -18.0% | -28.7% |
| Return on assets | -7.8% | -65.2% | -28.5% | -8.1% | -16.5% | -25.5% |
| Free cash flow yield | -1.7% | -0.9% | -0.7% | -0.4% | -0.2% | -0.0% |
| Revenue growth | 201.9% | 95.4% | 98.0% | 430.3% | 1367.8% | -28.5% |
| Earnings growth | 53.9% | 110.2% | 225.2% | -54.3% | 588.4% | 72.6% |
| Current ratio | 15.50x | 10.50x | 10.49x | 18.43x | 54.65x | 20.51x |
| Debt to equity | 0.00x | 0.01x | 0.00x | 0.00x | 0.00x | 0.01x |
| Equity ratio | 57.8% | 75.5% | 87.6% | 95.0% | 92.1% | 88.8% |
| Interest coverage | — | — | — | -2.30x | -9.08x | — |
| R&D as a share of sales | 235.1% | 317.7% | 418.8% | 395.1% | 963.7% | 7102.8% |
| Buybacks as a share of market value | -69.3% | -6.2% | -3.1% | -1.8% | -1.6% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 126.9% | 290.6% | — |
| Operating income | 94.8% | 109.4% | — |
| Net income | 119.1% | 101.3% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -500.4% | -538.0% | -558.3% | — |
| Net margin | -486.5% | -508.2% | -561.1% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Price to earnings | -32.4 | -16.7 | -9.8 | -8.6 | -18.8 |
| Price to sales | 127.3 | 128.9 | 70.4 | 37.6 | — |
Market value over time
29 Jan 2021 to 2 Oct 2026, in USD
$1.31bn$16.09bn
Share price return
Finished calendar years
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Return | 103% | 162% | 287% | -76% | 41% |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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