I 
1.51
+4.86%
Close of 9 Nov 2026, in USD
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At a glance
Figures in USD, from our data supplier.
Revenue
$3.2m
FY2016FY2025
Net income
−$56.1m
FY2016FY2025
Free cash flow
−$39.8m
FY2016FY2025
Shareholders' equity
−$24.7m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.2m | $14.4m | $59.2m | $65.7m | $13.8m | $79.5m | $78.6m | $91.1m | $37.2m | $64.0m |
| Research and development | $49.7m | $59.2m | $63.9m | $58.9m | $53.6m | $56.7m | $1.8m | $79.3m | $76.4m | $55.4m |
| Operating income | −$60.9m | −$58.8m | −$14.4m | −$65.7m | −$54.5m | $1.2m | −$30.8m | $5.9m | −$54.5m | $8.6m |
| Net income | −$56.1m | −$56.4m | −$8.6m | −$66.2m | −$60.2m | −$72.9m | −$23.7m | $3.5m | −$55.1m | $14.4m |
| Diluted earnings per share | -0.61 | -0.67 | -0.11 | -0.83 | -0.76 | -0.92 | -0.36 | 0.06 | -1.01 | 0.26 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | $71.5m | $126.6m | $199.7m | $236.9m | $304.9m | $350.4m | $457.5m | $514.3m | $290.7m | $320.9m |
| Cash and short-term investments | $39.1m | $92.1m | $105.4m | $115.7m | $136.6m | $172.8m | $249.5m | $190.9m | $132.3m | $225.3m |
| Total liabilities | $96.2m | $116.5m | $150.8m | $175.2m | $182.4m | $172.6m | $209.7m | $323.7m | $192.7m | $222.7m |
| Debt | $25.7m | $35.3m | $45.5m | $48.2m | $50.4m | $21.8m | $21.3m | $5.2m | $6.7m | $6.1m |
| Shareholders' equity | −$24.7m | $10.1m | $59.2m | $61.7m | $122.5m | $177.8m | $247.8m | $190.6m | $98.0m | $98.2m |
| Shares outstanding | 91m | 84m | 81m | 80m | 80m | 79m | 66m | 60m | 55m | 55m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −$37.1m | −$7.9m | −$37.1m | −$21.8m | −$66.6m | −$59.0m | $39.8m | −$37.1m | −$54.8m | −$42.0m |
| Capital spending | −$2.7m | −$445,650 | −$2.7m | −$1.3m | −$1.5m | −$12.9m | −$74.5m | −$1.6m | −$6.9m | −$10.7m |
| Free cash flow | −$39.8m | −$8.3m | −$39.8m | −$23.1m | −$68.1m | −$71.9m | −$34.7m | −$38.7m | −$61.6m | −$52.7m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Jun 2025 | Mar 2025 | Jun 2024 | Mar 2024 | Dec 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $3.6m | −$2.4m | −$2.4m | $5.5m | $314,577 | $14.1m | $18.9m | $24.4m |
| Operating income | −$24.9m | −$31.9m | −$31.9m | −$29.0m | −$28.8m | −$30.0m | −$8.5m | −$14.0m |
| Net income | −$22.7m | −$31.5m | −$31.5m | −$24.3m | −$28.2m | −$28.2m | −$10.6m | −$10.6m |
| Diluted earnings per share | -0.24 | -0.34 | -0.34 | -0.27 | -0.31 | -0.34 | -0.13 | -0.13 |
| Cash from operations | −$24.0m | −$26.0m | −$26.0m | −$38.0m | −$11.0m | $3.0m | −$24.0m | −$24.0m |
| Total assets | $39.6m | $71.5m | $71.5m | $105.9m | $126.6m | $172.7m | $199.7m | $209.9m |
| Cash and short-term investments | $12.4m | $39.1m | $39.1m | $68.4m | $92.1m | $104.6m | $105.4m | $105.4m |
| Debt | $23.0m | $10.0m | $25.6m | $30.6m | $9.9m | $10.2m | $10.2m | $45.1m |
| Shareholders' equity | −$46.2m | −$24.7m | −$24.7m | $5.9m | $10.1m | $32.8m | $59.2m | $59.2m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -63.6% | -47.5% | -17.0% |
| Operating income | -2.5% | — | 17.4% |
| Net income | -5.4% | -5.1% | 22.0% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -681.5% | -140.3% | -107.4% | -63.8% |
| Net margin | -640.2% | -131.5% | -135.9% | -73.8% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Price to earnings | -2.9 | -2.7 | -26.1 | -4.5 | -6.0 | -4.4 | -17.9 |
| Price to sales | 50.4 | 10.7 | 3.8 | 4.5 | 26.3 | 4.1 | 5.4 |
Share price return
Finished calendar years
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|
| Return | -19% | -20% | 2% | -47% | 18% | -34% | 6% |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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