J 
6.18
+4.22%
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
$53.4m
FY2019FY2025
Net income
−$929.8m
FY2019FY2025
Free cash flow
−$563.8m
FY2019FY2025
Shareholders' equity
$1.41bn
FY2019FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Revenue | $53.4m | $136,000 | $1.0m | — | — | — | — |
| Research and development | $581.1m | $477.2m | $367.0m | $296.3m | $202.6m | $108.7m | $70.2m |
| Operating income | −$719.6m | −$596.8m | −$472.1m | −$392.2m | −$259.1m | −$132.2m | −$84.1m |
| Net income | −$929.8m | −$608.0m | −$513.0m | −$258.0m | −$180.3m | −$114.2m | −$110.3m |
| Diluted earnings per share | -1.04 | -0.83 | -0.73 | -0.44 | -0.30 | -0.19 | -0.18 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Total assets | $1.80bn | $1.20bn | $1.27bn | $1.29bn | $1.49bn | $497.3m | $534.8m |
| Cash and short-term investments | $1.41bn | $932.9m | $1.03bn | $1.06bn | $1.30bn | $445.9m | $507.2m |
| Total liabilities | $385.4m | $291.1m | $235.1m | $128.2m | $171.6m | $780.4m | $13.5m |
| Debt | $8.4m | — | — | — | $2.4m | $2.6m | $3.7m |
| Shareholders' equity | $1.41bn | $912.4m | $1.03bn | $1.16bn | $1.32bn | −$283.2m | $521.3m |
| Shares outstanding | 895m | 733m | 698m | 586m | 591m | 604m | 604m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Cash from operations | −$509.9m | −$436.3m | −$313.8m | −$235.9m | −$195.7m | −$105.9m | −$76.2m |
| Capital spending | −$53.9m | −$40.6m | −$30.6m | −$54.9m | −$32.3m | −$23.3m | −$9.2m |
| Free cash flow | −$563.8m | −$476.9m | −$344.4m | −$290.8m | −$228.1m | −$129.2m | −$85.5m |
| Dividends paid | — | — | −$9.0m | — | — | — | — |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $38.6m | $24.2m | $30.8m | $22.6m | $15,000 | — | $55,000 | $28,000 |
| Operating income | −$260.9m | −$233.6m | −$206.8m | −$181.7m | −$167.9m | −$163.3m | −$149.9m | −$156.7m |
| Net income | −$245.4m | −$110.0m | −$121.5m | −$401.2m | −$324.7m | −$82.4m | −$246.3m | −$143.9m |
| Diluted earnings per share | -0.25 | -0.11 | -0.14 | -0.45 | -0.36 | -0.09 | -0.34 | -0.20 |
| Cash from operations | −$317.0m | −$144.0m | −$153.0m | −$140.0m | −$106.0m | −$110.0m | −$120.0m | −$110.0m |
| Capital spending | −$106.0m | −$77.0m | −$13.0m | −$13.0m | −$12.0m | −$14.0m | −$15.0m | −$9.0m |
| Free cash flow | −$423.0m | −$221.0m | −$166.0m | −$153.0m | −$118.0m | −$124.0m | −$135.0m | −$119.0m |
| Total assets | $2.75bn | $2.93bn | $1.80bn | $1.37bn | $1.26bn | $1.08bn | $1.20bn | $964.3m |
| Cash and short-term investments | $2.26bn | $2.47bn | $1.41bn | $978.1m | $991.0m | $812.5m | $932.9m | $710.0m |
| Debt | $710.9m | $710.1m | $8.4m | $10.6m | $5.6m | $5.4m | $5.0m | $4.8m |
| Shareholders' equity | $1.77bn | $1.96bn | $1.41bn | $896.5m | $898.3m | $859.4m | $912.4m | $781.0m |
Financial ratios
Data as of 6 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | -1738.0% | -446989.0% | -49700.7% | — | — | — |
| Net margin | -1740.5% | -447083.8% | -49714.1% | — | — | — |
| Return on equity | -66.0% | -66.6% | -49.6% | -22.2% | -13.7% | 40.3% |
| Return on assets | -51.8% | -50.5% | -40.4% | -20.0% | -12.1% | -23.0% |
| Free cash flow yield | -8.8% | -9.3% | -7.0% | -5.3% | -4.8% | -2.4% |
| Revenue growth | 39183.1% | -86.8% | — | — | — | — |
| Earnings growth | 52.9% | 18.5% | 98.8% | 43.1% | 58.0% | — |
| Current ratio | 24.09x | 20.14x | 23.39x | 35.90x | 95.22x | 56.36x |
| Debt to equity | 0.01x | 0.01x | 0.00x | 0.00x | 0.00x | -0.01x |
| Equity ratio | 78.5% | 75.8% | 81.5% | 90.1% | 88.5% | -56.9% |
| Interest coverage | — | — | — | -2185.03x | -77.67x | -531.07x |
| R&D as a share of sales | 1087.7% | 350850.0% | 35566.8% | — | — | — |
| Buybacks as a share of market value | -22.1% | -4.9% | -19.3% | 1.0% | 2.1% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Operating income | 22.4% | 40.3% | — |
| Net income | 53.3% | 52.1% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -2457.7% | — | — | — |
| Net margin | -2871.3% | — | — | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Price to earnings | -12.7 | -9.8 | -9.1 | -7.6 | -23.9 | -61.1 |
| Price to sales | 221.1 | — | — | — | — | — |
Market value over time
30 Nov 2020 to 5 Oct 2026, in USD
$1.18bn$5.61bn
Share price return
Finished calendar years
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|
| Return | 74% | 14% | 101% | -49% | -40% | 8% |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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