M 
15.81
+3.13%
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.
Net income
−$154.7m
FY2020FY2025
Free cash flow
−$142.4m
FY2020FY2025
Shareholders' equity
$646.7m
FY2020FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross profit | −$59,000 | −$43,000 | — | — | — | — |
| Research and development | $132.0m | $168.6m | $70.4m | $26.3m | $16.3m | $2.4m |
| Operating income | −$170.6m | −$192.4m | −$84.7m | −$31.5m | −$18.7m | −$2.9m |
| Net income | −$154.7m | −$177.8m | −$71.9m | −$29.8m | −$19.4m | −$3.4m |
| Diluted earnings per share | -1.92 | -3.56 | -1.79 | -5.72 | -3.84 | -0.69 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Total assets | $661.8m | $205.9m | $251.6m | $114.4m | $11.1m | $1.5m |
| Cash and short-term investments | $656.6m | $198.2m | $236.6m | $110.1m | $10.6m | $1.4m |
| Total liabilities | $15.1m | $14.6m | $10.5m | $166.7m | $34.0m | $5.1m |
| Debt | — | — | — | — | — | $4.5m |
| Shareholders' equity | $646.7m | $191.3m | $241.2m | −$52.3m | −$22.9m | −$3.6m |
| Shares outstanding | 81m | 50m | 40m | 5m | 5m | 5m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Cash from operations | −$142.4m | −$166.3m | −$81.2m | −$29.2m | −$14.6m | −$2.5m |
| Capital spending | −$15,000 | −$96,000 | — | — | — | — |
| Free cash flow | −$142.4m | −$166.4m | −$81.2m | −$29.2m | −$14.6m | −$2.5m |
| Dividends paid | — | — | — | — | — | −$3.8m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | — | — | — | — | — | — | $34,000 | — |
| Gross profit | — | −$6,000 | −$13,000 | −$15,000 | −$16,000 | −$15,000 | $17,000 | −$11,000 |
| Operating income | −$246.0m | −$45.3m | −$38.3m | −$41.1m | −$46.7m | −$44.4m | −$51.8m | −$60.1m |
| Net income | −$241.1m | −$39.3m | −$32.2m | −$36.9m | −$43.3m | −$42.2m | −$48.9m | −$56.3m |
| Diluted earnings per share | -2.85 | -0.46 | -0.40 | -0.46 | -0.54 | -0.52 | -0.98 | -1.13 |
| Cash from operations | −$32.0m | −$39.0m | −$37.0m | −$28.0m | −$30.0m | −$45.0m | −$66.0m | −$50.0m |
| Total assets | $667.9m | $652.9m | $661.8m | $599.9m | $335.7m | $354.9m | $205.9m | $268.3m |
| Cash and short-term investments | $138.3m | $646.1m | $656.6m | $217.6m | $324.9m | $343.0m | $198.2m | $263.6m |
| Shareholders' equity | $550.9m | $638.1m | $646.7m | $576.4m | $313.6m | $341.6m | $191.3m | $236.9m |
Financial ratios
Data as of 29 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Return on equity | -23.9% | -93.0% | -29.8% | 57.0% | 84.7% | 95.2% |
| Return on assets | -23.4% | -86.4% | -28.6% | -26.0% | -174.5% | -230.6% |
| Free cash flow yield | -8.3% | -15.6% | — | — | — | — |
| Earnings growth | -13.0% | 147.3% | 141.3% | 53.5% | 466.5% | — |
| Current ratio | 43.76x | 14.02x | 23.76x | 13.98x | 2.20x | 0.29x |
| Debt to equity | — | — | — | — | — | -1.25x |
| Equity ratio | 97.7% | 92.9% | 95.8% | -45.7% | -206.1% | -242.1% |
| Interest coverage | — | — | — | -18.78x | -1387.00x | -51.19x |
| Buybacks as a share of market value | -61.2% | -24.6% | -669.5% | -3.0% | -1.2% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Operating income | 75.7% | 125.2% | — |
| Net income | 73.1% | 114.2% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | |
|---|---|---|---|
| Price to earnings | -18.9 | -3.5 | -4.8 |
Market value over time
28 Feb 2023 to 28 Oct 2026, in USD
$88.9m$1.81bn
Share price return
Finished calendar years
| 2025 | 2024 | 2023 | |
|---|---|---|---|
| Return | 218% | 46% | -57% |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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