I 
8.17
+1.62%
Close of 9 Nov 2026, in USD
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At a glance
Figures in USD, from our data supplier.
Revenue
$263.5m
FY2016FY2025
Net income
−$391.0m
FY2016FY2025
Free cash flow
−$336.2m
FY2016FY2025
Shareholders' equity
$698.6m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $263.5m | $164.1m | $1.2m | $238,000 | — | — | — | — | — | — |
| Gross profit | $256.2m | $40.1m | −$9.6m | −$21.1m | −$14.0m | −$8.7m | −$8.1m | −$956,000 | −$952,000 | −$978,000 |
| Research and development | $300.3m | $282.3m | $344.1m | $294.8m | $259.0m | $201.7m | $166.0m | $99.8m | $71.6m | $28.0m |
| Operating income | −$403.4m | −$395.3m | −$460.6m | −$398.9m | −$342.7m | −$261.9m | −$206.9m | −$128.3m | −$92.9m | −$53.6m |
| Net income | −$391.0m | −$372.2m | −$444.0m | −$389.9m | −$327.8m | −$259.6m | −$187.1m | −$123.6m | −$92.1m | −$52.9m |
| Diluted earnings per share | -0.96 | -1.22 | -1.73 | -2.37 | -2.09 | -1.77 | -1.48 | -1.04 | -1.26 | -0.85 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | $913.2m | $910.4m | $780.4m | $664.0m | $777.3m | $768.5m | $344.7m | $480.8m | $155.4m | $171.9m |
| Cash and short-term investments | $297.0m | $323.8m | $279.9m | $471.8m | $504.4m | $629.4m | $307.1m | $468.5m | $145.4m | $166.5m |
| Total liabilities | $214.6m | $200.0m | $195.7m | $164.3m | $155.7m | $112.0m | $45.7m | $14.6m | $9.9m | $5.0m |
| Debt | $1.0m | $1.0m | $1.0m | $1.0m | $1.0m | — | — | — | — | — |
| Shareholders' equity | $698.6m | $710.4m | $584.6m | $499.6m | $621.7m | $656.5m | $299.0m | $466.2m | $145.5m | $166.9m |
| Shares outstanding | 407m | 305m | 256m | 165m | 157m | 146m | 126m | 119m | 73m | 62m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −$302.4m | −$353.0m | −$361.8m | −$292.8m | −$227.9m | −$205.1m | −$158.9m | −$101.2m | −$78.7m | −$32.7m |
| Capital spending | −$33.8m | −$11.1m | −$22.3m | −$20.4m | −$37.6m | −$46.8m | −$6.9m | −$1.2m | −$1.0m | −$1.5m |
| Free cash flow | −$336.2m | −$364.0m | −$384.1m | −$313.2m | −$265.5m | −$251.9m | −$165.8m | −$102.4m | −$79.7m | −$34.2m |
| Dividends paid | — | — | — | — | −$1.0m | — | — | — | — | −$49.5m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $99.3m | $71.4m | $86.8m | $67.5m | $60.0m | $49.3m | $73.7m | $58.6m |
| Gross profit | $54.2m | $70.4m | $187.3m | $66.0m | $3.3m | −$417,000 | $28.2m | $18.7m |
| Operating income | −$51.9m | −$81.0m | −$73.5m | −$94.9m | −$113.8m | −$121.2m | −$86.6m | −$89.1m |
| Net income | −$47.3m | −$79.0m | −$71.9m | −$91.3m | −$111.7m | −$116.2m | −$78.6m | −$83.5m |
| Diluted earnings per share | -0.11 | -0.18 | -0.18 | -0.22 | -0.27 | -0.29 | -0.26 | -0.27 |
| Cash from operations | −$60.0m | −$72.0m | −$52.0m | −$78.0m | −$67.0m | −$103.0m | −$73.0m | −$58.0m |
| Capital spending | −$5.0m | −$6.0m | −$9.0m | −$10.0m | −$7.0m | −$6.0m | −$4.0m | −$2.0m |
| Free cash flow | −$65.0m | −$78.0m | −$61.0m | −$88.0m | −$74.0m | −$109.0m | −$77.0m | −$60.0m |
| Total assets | $915.5m | $925.7m | $913.2m | $904.9m | $907.4m | $966.7m | $910.4m | $991.1m |
| Cash and short-term investments | $297.7m | $313.4m | $297.0m | $300.8m | $301.2m | $359.7m | $323.8m | $397.5m |
| Debt | $2.7m | $3.9m | $4.0m | $7.3m | $8.1m | $9.5m | $13.9m | $12.6m |
| Shareholders' equity | $736.0m | $721.8m | $698.6m | $702.3m | $698.5m | $767.9m | $710.4m | $773.5m |
Financial ratios
Data as of 2 Nov 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2015 | FY2014 | FY2013 | |
|---|---|---|---|---|---|---|---|---|---|
| Gross margin | 34.3% | 24.4% | -804.5% | -8880.3% | — | — | — | — | — |
| Operating margin | -151.1% | -228.6% | -37638.0% | -167595.8% | — | — | — | — | — |
| Net margin | -148.4% | -226.8% | -37345.4% | -163833.2% | — | — | — | — | — |
| Return on equity | -56.0% | -52.4% | -76.0% | -78.0% | -52.7% | -39.5% | — | — | — |
| Return on assets | -42.8% | -40.9% | -56.9% | -58.7% | -42.2% | -33.8% | — | — | — |
| Free cash flow yield | -7.8% | -13.2% | -15.6% | -19.5% | -14.3% | -12.7% | — | — | — |
| Revenue growth | 60.6% | 13699.0% | 399.6% | — | — | — | — | — | — |
| Earnings growth | 5.1% | -16.2% | 13.9% | 18.9% | 26.3% | 38.8% | — | — | — |
| Current ratio | 3.20x | 3.74x | 2.79x | 5.24x | 5.69x | 11.59x | — | — | — |
| Debt to equity | 0.01x | 0.02x | 0.02x | 0.03x | 0.01x | 0.01x | — | — | — |
| Equity ratio | 76.5% | 78.0% | 74.9% | 75.2% | 80.0% | 85.4% | — | — | — |
| Interest coverage | — | — | — | -133.63x | -759.87x | -111.18x | -139.30x | -2126.19x | -56.07x |
| R&D as a share of sales | 114.0% | 172.1% | 28938.4% | 123857.6% | — | — | — | — | — |
| Buybacks as a share of market value | -33.5% | -19.1% | -55.3% | -5.0% | -7.1% | -16.0% | — | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 934.5% | — | — |
| Operating income | 0.4% | 9.0% | 30.6% |
| Net income | 0.1% | 8.5% | 30.3% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 69.3% | 61.9% | — | — |
| Operating margin | -186.8% | -386.5% | — | — |
| Net margin | -178.5% | -372.3% | — | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -1.8 | -2.1 | -1.6 | -0.9 | -1.5 | -2.6 | -1.9 | -0.8 | -0.6 | -0.8 |
| Price to sales | 2.7 | 4.8 | — | — | — | — | — | — | — | — |
Market value over time
30 Nov 2016 to 30 Oct 2026, in USD
$392.4m$3.82bn
Share price return
Finished calendar years
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Return | -39% | -7% | 29% | -33% | -33% | 64% | 262% | -9% | 23% | -1% |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years.
- 100-to-1 reverse split · 26 Sept 2013
- 24-for-1 split · 6 Apr 2010
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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