M 
14.08
-1.19%
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
$17.0m
FY2016FY2025
Net income
−$23.9m
FY2016FY2025
Free cash flow
−$20.0m
FY2016FY2025
Shareholders' equity
$43.6m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $17.0m | $20.2m | $18.7m | $26.5m | $23.8m | $21.8m | $31.8m | $3.4m | $2.5m | $1.6m |
| Gross profit | $3.3m | $2.6m | $3.6m | $13.2m | $8.8m | $7.5m | $19.9m | $1.3m | $918,000 | −$600,000 |
| Research and development | $14.3m | $8.9m | $7.5m | $10.2m | $10.3m | $7.7m | $5.0m | $4.1m | $5.5m | $7.1m |
| Operating income | −$25.3m | −$29.4m | −$15.5m | −$7.7m | −$12.4m | −$8.7m | $4.5m | −$4.8m | −$13.7m | −$20.2m |
| Net income | −$23.9m | −$30.2m | −$6.7m | −$19.6m | −$13.6m | −$9.2m | $5.0m | −$1.1m | −$22.1m | −$18.9m |
| Diluted earnings per share | -1.86 | -2.80 | -0.73 | -3.09 | -3.48 | -2.37 | 1.28 | -0.27 | -5.73 | -6.04 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | $86.3m | $73.5m | $66.5m | $50.0m | $19.7m | $31.1m | $40.6m | $35.3m | $44.1m | $35.8m |
| Cash and short-term investments | $53.1m | $43.2m | $41.5m | $33.9m | $11.0m | $21.6m | $29.5m | $23.6m | $36.1m | $30.0m |
| Total liabilities | $42.6m | $42.3m | $34.9m | $39.1m | $24.3m | $23.8m | $25.4m | $26.3m | $34.5m | $28.0m |
| Debt | $623,000 | $6.9m | $6.7m | $1.4m | $2.0m | $2.3m | $2.6m | — | — | — |
| Shareholders' equity | $43.6m | $31.2m | $31.6m | $10.9m | −$4.6m | $7.3m | $15.2m | $9.0m | $9.6m | $7.8m |
| Shares outstanding | 13m | 11m | 9m | 6m | 4m | 4m | 4m | 4m | 4m | 3m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −$14.5m | −$13.6m | −$10.5m | −$11.9m | −$8.9m | −$6.9m | $8.3m | −$12.2m | −$16.5m | −$16.4m |
| Capital spending | −$5.5m | −$6.3m | −$6.5m | −$555,000 | −$489,000 | −$923,000 | −$792,000 | −$534,000 | −$1.1m | −$701,000 |
| Free cash flow | −$20.0m | −$19.9m | −$16.9m | −$12.4m | −$9.4m | −$7.8m | $7.5m | −$12.7m | −$17.5m | −$17.1m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $3.1m | $1.5m | $1.9m | $5.4m | $5.7m | $4.0m | $5.8m | $4.4m |
| Gross profit | $337,000 | $323,000 | $278,000 | $896,000 | $1.3m | $738,000 | $903,000 | $677,000 |
| Operating income | −$9.5m | −$8.0m | −$7.8m | −$6.5m | −$5.7m | −$5.2m | −$6.1m | −$5.1m |
| Net income | −$7.4m | −$3.0m | −$7.2m | −$2.7m | −$13.3m | −$726,000 | −$3.9m | −$10.3m |
| Diluted earnings per share | -0.57 | -0.23 | -0.56 | -0.21 | -1.04 | -0.06 | -0.36 | -0.95 |
| Cash from operations | −$8.0m | −$6.0m | −$3.0m | −$3.0m | −$5.0m | −$4.0m | −$1.0m | −$3.0m |
| Capital spending | −$1.0m | −$1.0m | −$2.0m | −$1.0m | −$1.0m | — | — | −$1.0m |
| Free cash flow | −$9.0m | −$7.0m | −$5.0m | −$4.0m | −$6.0m | — | — | −$4.0m |
| Total assets | $71.9m | $80.0m | $86.3m | $94.4m | $67.0m | $69.0m | $73.5m | $74.7m |
| Cash and short-term investments | $35.3m | $44.6m | $53.1m | $59.1m | $32.4m | $38.3m | $9.2m | $45.6m |
| Debt | $932,000 | $929,000 | $623,000 | $1.1m | $822,000 | — | — | — |
| Shareholders' equity | $35.6m | $41.4m | $43.6m | $50.2m | $20.1m | $31.3m | $31.2m | $34.2m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -13.8% | -4.9% | 39.7% |
| Operating income | 48.9% | 23.7% | 1.8% |
| Net income | 6.8% | 21.0% | 0.8% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 15.8% | 27.5% | 30.5% | 34.9% |
| Operating margin | -147.1% | -94.5% | -77.4% | -92.0% |
| Net margin | -145.5% | -97.6% | -80.7% | -96.8% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -9.9 | -6.4 | -14.0 | -4.4 | -4.8 | -10.9 | 17.0 | -104.4 | -5.4 | -5.3 |
| Price to sales | 14.0 | 9.5 | 5.0 | 3.2 | 2.7 | 4.6 | 2.6 | 32.5 | 48.2 | 64.3 |
Share price return
Finished calendar years
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Return | 10% | 62% | 13% | -43% | -40% | 29% | -30% | -4% | -6% | -43% |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years.
- 7-to-1 reverse split · 20 Dec 2022
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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