M 
432.79
+8.30%
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
$958.4m
FY2016FY2025
Net income
−$288.3m
FY2016FY2025
Free cash flow
−$190.0m
FY2016FY2025
Shareholders' equity
$602.7m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $958.4m | $180.1m | — | — | — | — | — | — | $350,000 | — |
| Gross profit | $902.3m | $173.9m | — | — | — | −$471,000 | −$112,000 | −$96,000 | $350,000 | −$156 |
| Research and development | $388.5m | $236.7m | $272.4m | $245.4m | $205.2m | $184.8m | $72.3m | $25.4m | $24.4m | $15.9m |
| Operating income | −$300.1m | −$497.9m | −$380.5m | −$293.6m | −$242.5m | −$206.7m | −$95.0m | −$40.7m | −$32.1m | −$25.2m |
| Net income | −$288.3m | −$465.9m | −$373.6m | −$295.4m | −$241.1m | −$197.4m | −$72.8m | −$32.8m | −$31.2m | −$26.4m |
| Diluted earnings per share | -12.85 | -21.25 | -18.91 | -17.13 | -14.12 | -12.76 | -4.72 | -2.14 | -2.47 | -2.29 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | $1.26bn | $1.04bn | $640.5m | $362.6m | $273.3m | $287.0m | $442.1m | $485.4m | $192.3m | $41.2m |
| Cash and short-term investments | $983.6m | $926.3m | $634.1m | $358.8m | $270.3m | $284.1m | $439.0m | $483.7m | $191.5m | $40.5m |
| Total liabilities | $656.9m | $287.9m | $235.2m | $165.2m | $77.2m | $47.0m | $25.5m | $8.4m | $10.1m | $4.8m |
| Debt | $340.9m | $117.6m | $115.5m | $49.3m | — | — | — | — | — | — |
| Shareholders' equity | $602.7m | $754.4m | $405.3m | $197.4m | $196.1m | $240.0m | $416.6m | $477.0m | $182.3m | $36.4m |
| Shares outstanding | 22m | 22m | 20m | 17m | 17m | 15m | 15m | 15m | 13m | 12m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −$189.6m | −$455.6m | −$324.2m | −$224.9m | −$183.9m | −$157.6m | −$41.6m | −$25.5m | −$22.3m | −$17.6m |
| Capital spending | −$467,000 | −$1.5m | −$1.5m | −$217,000 | −$209,000 | −$334,000 | −$172,000 | −$22,000 | −$125,000 | −$3,080 |
| Free cash flow | −$190.0m | −$457.0m | −$325.7m | −$225.1m | −$184.1m | −$157.9m | −$41.8m | −$25.5m | −$22.4m | −$17.6m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $364.3m | $311.3m | $321.1m | $287.3m | $212.8m | $137.3m | $103.3m | $62.2m |
| Gross profit | $324.2m | $284.5m | $296.6m | $269.1m | $203.7m | $132.7m | $99.9m | $60.0m |
| Operating income | −$57.1m | −$92.7m | −$59.6m | −$114.0m | −$47.2m | −$79.3m | −$67.0m | −$116.3m |
| Net income | −$57.9m | −$94.4m | −$58.6m | −$114.2m | −$42.3m | −$73.2m | −$59.4m | −$107.0m |
| Diluted earnings per share | -1.99 | -3.24 | -2.61 | -5.09 | -1.88 | -3.26 | -2.71 | -4.88 |
| Cash from operations | $23.0m | −$167.0m | −$133.0m | $79.0m | −$47.0m | −$88.0m | −$104.0m | −$66.0m |
| Capital spending | −$4.0m | −$3.0m | — | — | — | — | — | — |
| Free cash flow | $19.0m | −$170.0m | — | — | — | — | — | — |
| Total assets | $1.24bn | $1.23bn | $1.26bn | $1.36bn | $1.02bn | $996.6m | $1.04bn | $1.07bn |
| Cash and short-term investments | $838.8m | $817.9m | $983.6m | $1.11bn | $797.0m | $843.1m | $926.3m | $998.6m |
| Debt | $341.8m | $342.0m | $340.9m | $340.8m | $119.4m | $119.0m | $118.6m | $118.0m |
| Shareholders' equity | $523.7m | $543.5m | $602.7m | $625.7m | $696.0m | $710.6m | $754.4m | $777.2m |
Financial ratios
Data as of 5 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2017 | FY2012 | FY2011 | FY2010 | FY2009 | FY2008 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross margin | 94.1% | 96.5% | — | — | — | — | 100.0% | -502.0% | 80.7% | 100.0% | — | — |
| Operating margin | -31.3% | -276.4% | — | — | — | — | -9160.6% | -41456.5% | -599.1% | -249.3% | — | — |
| Net margin | -30.1% | -258.6% | — | — | — | — | -8901.1% | -42714.3% | -624.7% | -253.1% | — | — |
| Return on equity | -47.8% | -61.8% | -92.2% | -149.6% | -122.9% | -82.3% | — | — | — | — | — | — |
| Return on assets | -22.9% | -44.7% | -58.3% | -81.5% | -88.2% | -68.8% | — | — | — | — | — | — |
| Free cash flow yield | -1.7% | -4.1% | -3.3% | -2.6% | -2.2% | -2.0% | — | — | — | — | — | — |
| Revenue growth | 432.1% | — | — | — | — | — | — | -98.1% | -48.8% | -89.7% | 5416.1% | 252.0% |
| Earnings growth | -38.1% | 24.7% | 26.5% | 22.5% | 22.1% | 171.2% | — | — | — | — | — | — |
| Current ratio | 4.01x | 6.10x | 5.38x | 3.12x | 3.54x | 6.13x | — | — | — | — | — | — |
| Debt to equity | 0.57x | 0.16x | 0.29x | 0.25x | 0.00x | 0.00x | — | — | — | — | — | — |
| Equity ratio | 47.8% | 72.4% | 63.3% | 54.4% | 71.7% | 83.6% | — | — | — | — | — | — |
| Interest coverage | -13.45x | -33.94x | -29.93x | -74.06x | -232.93x | -47.74x | — | — | — | — | — | — |
| R&D as a share of sales | 40.5% | 131.4% | — | — | — | — | 6968.6% | 33613.6% | 546.7% | 271.9% | — | — |
| Buybacks as a share of market value | -2.3% | -11.0% | -14.6% | -1.0% | -10.3% | -0.3% | — | — | — | — | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Operating income | 0.7% | 7.7% | 57.6% |
| Net income | -0.8% | 7.9% | 45.4% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 94.5% | — | — | — |
| Operating margin | -70.1% | — | — | — |
| Net margin | -66.2% | — | — | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -45.3 | -14.5 | -12.2 | -16.9 | -6.0 | -8.7 | -19.3 | -52.7 | -37.1 | -6.5 |
| Price to sales | 13.6 | 37.6 | — | — | — | — | — | — | — | — |
Market value over time
30 Nov 2016 to 2 Oct 2026, in USD
$141.6m$14.56bn
Share price return
Finished calendar years
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Return | 86% | 27% | -2% | 194% | -32% | 32% | -7% | 6% | 475% | 38% |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years.
- 35-to-1 reverse split · 25 Jul 2016
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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