M 
1.28
-23.35%
Close of 5 Nov 2026, in USD
At a glance
Figures in USD, from our data supplier.
Net income
−$28.2m
FY2017FY2026
Free cash flow
−$27.7m
FY2017FY2026
Shareholders' equity
$13.0m
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Gross profit | −$1.7m | −$1.4m | −$768,000 | −$355,446 | −$196,921 | −$181,841 | −$35,431 | −$14,468 | −$1,861 | — |
| Research and development | $20.0m | $14.7m | $12.9m | $9.1m | $7.7m | $4.1m | $3.0m | $1.9m | $332,642 | — |
| Operating income | −$27.6m | −$19.0m | −$17.5m | −$13.9m | −$15.9m | −$7.3m | −$5.3m | −$2.6m | −$91,051 | −$91,051 |
| Net income | −$28.2m | −$18.8m | −$17.5m | −$13.9m | −$18.6m | −$7.4m | −$5.3m | −$2.5m | −$106,559 | −$106,559 |
| Diluted earnings per share | -5.18 | -8.57 | -13.86 | -18.47 | -51.16 | -34.83 | -25.54 | -12.79 | -0.57 | -0.60 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | $14.8m | $18.7m | $13.8m | $7.2m | $9.8m | $2.2m | $3.9m | $6.7m | $4.3m | $1.4m |
| Cash and short-term investments | $6.9m | $13.1m | $9.2m | $3.8m | $9.1m | $1.5m | $3.1m | $6.6m | $4.3m | — |
| Total liabilities | $1.9m | $1.7m | $2.3m | $2.2m | $1.0m | $3.5m | $980,129 | $178,929 | $15,471 | $74,420 |
| Debt | $393,000 | $816,000 | $1.2m | $1.5m | $184,814 | $2.8m | $270,950 | — | $516 | — |
| Shareholders' equity | $13.0m | $17.1m | $11.5m | $5.1m | $8.8m | −$1.3m | $2.9m | $6.5m | $4.3m | $1.3m |
| Shares outstanding | 5m | 2m | 1m | 1m | 0m | 0m | 0m | 0m | 0m | 0m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −$23.8m | −$15.7m | −$14.0m | −$11.0m | −$10.26bn | −$5.9m | −$4.1m | −$1.8m | −$791,131 | −$94,810 |
| Capital spending | −$3.9m | −$2.5m | −$1.7m | −$1.6m | −$54.8m | −$109,669 | −$260,789 | −$77,124 | −$15,332 | −$15,119 |
| Free cash flow | −$27.7m | −$18.2m | −$15.7m | −$12.6m | −$10.31bn | −$6.0m | −$4.4m | −$1.9m | −$806,463 | −$109,929 |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Gross profit | — | −$441,000 | −$430,000 | −$391,000 | −$410,000 | −$326,000 | −$281,000 | −$260,000 |
| Operating income | −$6.5m | −$5.7m | −$7.2m | −$7.8m | −$6.8m | −$5.0m | −$4.9m | −$5.0m |
| Net income | −$6.5m | −$6.4m | −$7.4m | −$7.8m | −$6.7m | −$4.9m | −$4.8m | −$5.0m |
| Diluted earnings per share | -1.19 | -1.17 | -3.35 | -3.54 | -3.05 | -2.24 | -3.81 | -3.93 |
| Cash from operations | −$5.0m | −$5.0m | −$7.0m | −$5.0m | −$5.0m | −$4.0m | −$4.0m | −$3.0m |
| Capital spending | — | −$1.0m | −$1.0m | — | — | — | — | — |
| Free cash flow | — | −$6.0m | −$8.0m | — | — | — | — | — |
| Total assets | $12.3m | $14.8m | $10.3m | $13.0m | $14.2m | $18.7m | $12.1m | $8.8m |
| Cash and short-term investments | $3.9m | $6.9m | $2.9m | $5.3m | $7.5m | $13.1m | $7.0m | $3.9m |
| Debt | $278,000 | $393,000 | $464,000 | $450,000 | $437,000 | $423,000 | $410,000 | $398,000 |
| Shareholders' equity | $10.8m | $13.0m | $5.9m | $8.8m | $11.8m | $17.1m | $10.3m | $6.9m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Operating income | 25.7% | 30.3% | 114.8% |
| Net income | 26.7% | 30.8% | 97.6% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2012 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -0.3 | -0.8 | -1.9 | -1.9 | -0.8 | -0.1 | -0.2 | -0.0 | -0.4 | -0.3 |
Share price return
Finished calendar years
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|
| Return | -76% | -11% | -31% | 1277% | -1% | -28% | 1483% | 20% |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years.
- 30-to-1 reverse split · 31 Mar 2026
- 3-to-1 reverse split · 29 Nov 2021
- 3.5-to-1 reverse split · 23 Oct 2006
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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