M 
93.18
-0.58%
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
$521.3m
FY2018FY2025
Net income
−$23.4m
FY2018FY2025
Free cash flow
$54.9m
FY2018FY2025
Shareholders' equity
$314.7m
FY2018FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $521.3m | $336.9m | $186.4m | $77.1m | $19.1m | $11.0m | — | — |
| Gross profit | $420.7m | $255.2m | $139.3m | $64.7m | $17.2m | −$623,000 | −$324,000 | — |
| Research and development | $186.2m | $140.6m | $102.6m | $106.8m | $131.4m | $81.6m | $43.0m | $2.3m |
| Operating income | −$22.1m | −$87.6m | −$147.3m | −$129.9m | −$66.7m | −$104.3m | −$54.7m | −$2.9m |
| Net income | −$23.4m | −$87.9m | −$163.4m | −$135.7m | −$84.0m | −$103.3m | −$52.6m | −$17.3m |
| Diluted earnings per share | -0.47 | -1.82 | -3.50 | -3.62 | -2.75 | -3.96 | -2.33 | -6.36 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Total assets | $842.8m | $670.8m | $646.6m | $352.9m | $294.7m | $240.9m | $146.7m | $52.0m |
| Cash and short-term investments | $383.3m | $280.3m | $286.3m | $151.7m | $156.5m | $231.8m | $116.7m | $52.0m |
| Total liabilities | $528.1m | $445.1m | $398.0m | $210.9m | $174.4m | $68.8m | $16.4m | $62.3m |
| Debt | $311.9m | $308.1m | $306.4m | — | — | — | — | — |
| Shareholders' equity | $314.7m | $225.6m | $248.7m | $142.0m | $120.2m | $172.1m | $130.3m | −$10.3m |
| Shares outstanding | 50m | 48m | 47m | 38m | 31m | 26m | 23m | 3m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | $55.8m | $10.3m | −$70.9m | −$120.1m | −$132.8m | −$89.1m | −$39.4m | −$373,000 |
| Capital spending | −$954,000 | −$993,000 | −$20.1m | −$278,000 | −$19.0m | −$225,000 | −$281,000 | −$7.5m |
| Free cash flow | $54.9m | $9.3m | −$91.1m | −$120.4m | −$151.8m | −$89.3m | −$39.6m | −$7.9m |
| Dividends paid | — | — | — | −$5.6m | — | — | — | — |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $176.2m | $159.9m | $148.9m | $133.0m | $127.8m | $111.6m | $99.4m | $90.4m |
| Gross profit | $145.9m | $131.0m | $120.6m | $107.5m | $104.4m | $88.6m | $76.6m | $69.6m |
| Operating income | −$42.5m | −$786.1m | −$4.8m | $3.0m | −$4.9m | −$15.2m | −$24.0m | −$13.8m |
| Net income | −$67.2m | −$790.2m | −$5.7m | $2.9m | −$5.9m | −$14.7m | −$23.8m | −$14.2m |
| Diluted earnings per share | -1.06 | -12.47 | -0.11 | 0.06 | -0.12 | -0.29 | -0.49 | -0.29 |
| Cash from operations | −$273.0m | −$228.0m | $6.0m | $39.0m | $12.0m | −$1.0m | −$5.0m | $3.0m |
| Capital spending | — | — | — | — | — | — | — | −$10.0m |
| Free cash flow | — | — | — | — | — | — | — | −$7.0m |
| Total assets | $1.04bn | $890.9m | $842.8m | $785.1m | $725.8m | $690.2m | $670.8m | $667.9m |
| Cash and short-term investments | $438.3m | $386.3m | $383.3m | $375.5m | $304.6m | $277.7m | $280.3m | $284.4m |
| Debt | $750.1m | $312.6m | $311.9m | $311.4m | $311.0m | $310.2m | $309.8m | $309.2m |
| Shareholders' equity | −$10.4m | $242.5m | $314.7m | $292.0m | $255.2m | $233.3m | $225.6m | $232.0m |
Financial ratios
Data as of 15 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 80.7% | 75.8% | 74.8% | 83.9% | 90.1% | -5.7% |
| Operating margin | -1.4% | -21.6% | -79.0% | -163.6% | -346.7% | -935.7% |
| Net margin | -4.5% | -26.1% | -87.7% | -176.0% | -438.9% | -938.8% |
| Return on equity | -7.4% | -39.0% | -65.7% | -95.5% | -69.9% | -60.0% |
| Return on assets | -2.8% | -13.1% | -25.3% | -38.4% | -28.5% | -42.9% |
| Free cash flow yield | 1.4% | 0.3% | -1.4% | -4.0% | -4.7% | -4.3% |
| Revenue growth | 54.7% | 80.8% | 141.8% | 302.7% | 74.0% | — |
| Earnings growth | -73.4% | -46.2% | 20.5% | 61.5% | -18.7% | 96.5% |
| Current ratio | 2.67x | 3.10x | 4.45x | 2.94x | 3.91x | 12.80x |
| Debt to equity | 0.99x | 1.37x | 1.24x | 0.01x | 0.01x | 0.00x |
| Equity ratio | 37.3% | 33.6% | 38.5% | 40.2% | 40.8% | 71.4% |
| Interest coverage | -0.49x | -5.07x | -9.75x | -7.89x | -3.77x | -307.25x |
| R&D as a share of sales | 35.7% | 41.7% | 55.1% | 138.6% | 686.7% | 741.9% |
| Buybacks as a share of market value | -3.8% | -3.5% | -24.5% | -22.7% | -17.1% | -15.6% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 89.1% | 116.3% | — |
| Operating income | -44.6% | -26.7% | — |
| Net income | -44.4% | -25.7% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 78.8% | 78.5% | 77.8% | — |
| Operating margin | -12.8% | -34.5% | -48.4% | — |
| Net margin | -13.0% | -36.6% | -51.9% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Price to earnings | -169.7 | -22.7 | -8.4 | -5.4 | -5.8 | -4.4 | -10.5 |
| Price to sales | 7.6 | 5.9 | 7.4 | 9.5 | 25.5 | 41.4 | — |
Market value over time
31 Jul 2019 to 14 Oct 2026, in USD
$40.5m$5.07bn
Share price return
Finished calendar years
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|
| Return | 73% | 29% | 75% | 14% | -15% | -22% | 78% |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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