I 
88.73
-1.65%
Close of 9 Nov 2026, in USD
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At a glance
Figures in USD, from our data supplier.
Revenue
$747.1m
FY2016FY2025
Net income
−$44.6m
FY2016FY2025
Free cash flow
$34.5m
FY2016FY2025
Shareholders' equity
$152.7m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $747.1m | $591.8m | $492.7m | $410.9m | $322.8m | $265.2m | $214.6m | $147.3m | $99.1m | $64.1m |
| Gross profit | $527.3m | $407.5m | $331.8m | $281.6m | $213.6m | $194.9m | $162.1m | $108.5m | $70.9m | $43.2m |
| Research and development | $84.6m | $103.8m | $60.2m | $46.6m | $38.7m | $41.3m | $37.3m | $20.9m | $13.3m | $7.2m |
| Operating income | −$36.8m | −$115.5m | −$125.2m | −$111.7m | −$99.9m | −$43.7m | −$54.8m | −$47.2m | −$26.4m | −$17.7m |
| Net income | −$44.6m | −$113.3m | −$123.4m | −$116.2m | −$101.4m | −$43.8m | −$54.6m | −$50.4m | −$29.7m | −$20.9m |
| Diluted earnings per share | -1.34 | -3.61 | -4.02 | -3.85 | -3.44 | -1.51 | -2.05 | -2.08 | -1.28 | -1.25 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | $1.02bn | $931.4m | $433.1m | $448.2m | $463.0m | $511.7m | $306.2m | $119.7m | $133.1m | $138.2m |
| Cash and short-term investments | $583.8m | $535.6m | $133.8m | $213.1m | $239.1m | $335.2m | $140.6m | $78.3m | $102.4m | $106.0m |
| Total liabilities | $867.3m | $840.5m | $223.0m | $208.4m | $183.5m | $170.1m | $170.8m | $65.3m | $53.6m | $45.6m |
| Debt | $666.2m | $646.4m | $35.0m | $34.9m | $21.4m | $33.0m | $34.9m | $34.9m | $34.0m | $32.2m |
| Shareholders' equity | $152.7m | $90.9m | $210.1m | $239.8m | $279.5m | $341.6m | $135.4m | $54.4m | $79.6m | $92.6m |
| Shares outstanding | 33m | 31m | 31m | 30m | 29m | 29m | 27m | 24m | 23m | 17m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | $80.9m | $3.4m | −$50.1m | −$23.0m | −$37.8m | −$13.8m | −$21.9m | −$29.1m | −$14.9m | −$16.7m |
| Capital spending | −$46.3m | −$33.9m | −$40.4m | −$29.8m | −$28.1m | −$13.6m | −$20.5m | −$5.2m | −$3.6m | −$2.8m |
| Free cash flow | $34.5m | −$30.6m | −$90.5m | −$52.8m | −$65.8m | −$27.3m | −$42.3m | −$34.2m | −$18.5m | −$19.4m |
| Dividends paid | — | — | — | — | −$25.9m | −$10.0m | — | — | — | — |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $224.2m | $199.4m | $208.9m | $192.9m | $186.7m | $158.7m | $164.3m | $147.5m |
| Gross profit | $163.2m | $141.4m | $148.1m | $137.1m | $132.9m | $109.2m | $115.1m | $101.5m |
| Operating income | −$2.5m | −$11.9m | $8.8m | −$4.0m | −$14.5m | −$32.3m | −$4.1m | −$50.3m |
| Net income | −$381,000 | −$13.9m | $5.6m | −$5.2m | −$14.2m | −$30.7m | −$1.3m | −$46.2m |
| Diluted earnings per share | -0.01 | -0.42 | 0.17 | -0.16 | -0.43 | -0.92 | -0.04 | -1.47 |
| Cash from operations | $51.0m | −$26.0m | $26.0m | $34.0m | $27.0m | −$7.0m | $19.0m | $24.0m |
| Capital spending | −$13.0m | −$6.0m | −$11.0m | −$14.0m | −$10.0m | −$9.0m | −$6.0m | −$8.0m |
| Free cash flow | $38.0m | −$32.0m | $15.0m | $20.0m | $17.0m | −$16.0m | $13.0m | $16.0m |
| Total assets | $1.09bn | $1.01bn | $1.02bn | $995.2m | $964.0m | $926.1m | $931.4m | $909.7m |
| Cash and short-term investments | $591.3m | $549.6m | $583.8m | $565.2m | $545.5m | $520.6m | $535.6m | $522.0m |
| Debt | $669.5m | $667.1m | $666.2m | $665.3m | $664.4m | $663.4m | $662.3m | $661.3m |
| Shareholders' equity | $186.0m | $161.2m | $152.7m | $121.9m | $103.7m | $86.7m | $90.9m | $71.8m |
Financial ratios
Data as of 17 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 70.6% | 68.9% | 67.3% | 68.5% | 66.2% | 73.5% |
| Operating margin | -4.1% | -16.9% | -24.2% | -27.2% | -30.9% | -15.9% |
| Net margin | -6.0% | -19.1% | -25.0% | -28.3% | -31.4% | -16.5% |
| Return on equity | -29.2% | -124.6% | -58.7% | -48.4% | -36.3% | -12.8% |
| Return on assets | -4.4% | -12.2% | -28.5% | -25.9% | -21.9% | -8.6% |
| Free cash flow yield | 3.5% | 1.5% | -0.3% | 0.2% | -0.3% | -0.0% |
| Revenue growth | 26.2% | 20.1% | 19.9% | 27.3% | 21.7% | 23.6% |
| Earnings growth | -60.7% | -8.2% | 6.2% | 14.6% | 131.3% | -19.7% |
| Current ratio | 4.63x | 5.82x | 2.15x | 3.24x | 3.48x | 5.75x |
| Debt to equity | 4.36x | 7.29x | 0.24x | 0.20x | 0.12x | 0.12x |
| Equity ratio | 15.0% | 9.8% | 48.5% | 53.5% | 60.4% | 66.8% |
| Interest coverage | -2.31x | -7.79x | -32.60x | -27.01x | -85.39x | -27.70x |
| R&D as a share of sales | 11.3% | 17.5% | 12.2% | 11.3% | 12.0% | 15.6% |
| Buybacks as a share of market value | -6.3% | -2.1% | -1.8% | -2.4% | -1.7% | -8.8% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 22.1% | 23.0% | 35.4% |
| Operating income | -30.9% | -3.4% | 5.5% |
| Net income | -27.3% | 0.3% | 6.9% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 69.8% | 69.0% | 69.1% | 69.7% |
| Operating margin | -11.4% | -17.4% | -18.8% | -20.7% |
| Net margin | -11.8% | -17.7% | -19.2% | -21.3% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -132.8 | -24.9 | -26.6 | -24.3 | -34.2 | -94.8 | -20.1 | -20.2 | -26.4 | -14.6 |
| Price to sales | 7.9 | 4.8 | 6.7 | 6.9 | 10.7 | 15.7 | 5.1 | 6.9 | 7.9 | 4.8 |
Market value over time
30 Nov 2016 to 16 Oct 2026, in USD
$615.5m$3.57bn
Share price return
Finished calendar years
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Return | 96% | -18% | 13% | -15% | -22% | 276% | -3% | 22% | 84% | 7% |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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