M 
1.40
+15.70%
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
$40.9m
FY2016FY2025
Net income
−$15.6m
FY2016FY2025
Free cash flow
−$16.3m
FY2016FY2025
Shareholders' equity
$11.4m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $40.9m | $32.6m | $19.2m | $15.6m | $13.9m | $7.6m | $3.8m | $2.4m | $1.6m | $1.1m |
| Research and development | $6.9m | $4.8m | $2.6m | $2.5m | $2.6m | $1.7m | $2.2m | $1.8m | $1.8m | $1.1m |
| Operating income | −$14.6m | −$6.2m | −$8.2m | −$10.7m | −$10.3m | −$11.1m | −$10.8m | −$10.5m | −$6.5m | −$3.3m |
| Net income | −$15.6m | −$6.2m | −$8.1m | −$10.7m | −$10.4m | −$11.6m | −$10.7m | −$10.3m | −$12.1m | −$3.6m |
| Diluted earnings per share | -0.37 | -0.16 | -0.23 | -1.46 | -1.58 | -2.49 | -6.02 | -24.89 | -48.01 | -16.93 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | $38.6m | $42.2m | $14.6m | $10.2m | $20.1m | $14.7m | $6.6m | $8.3m | $14.0m | $1.7m |
| Cash and short-term investments | $18.4m | $24.9m | $8.9m | $5.3m | $15.5m | $12.2m | $4.5m | $6.5m | $13.0m | $797,174 |
| Total liabilities | $27.2m | $17.5m | $5.6m | $3.8m | $4.7m | $3.1m | $4.8m | $1.9m | $1.5m | $19.2m |
| Debt | $19.4m | $8.1m | $601,303 | $553,908 | $735,002 | $173,437 | $2.7m | $1.3m | $39,930 | $5.5m |
| Shareholders' equity | $11.4m | $24.7m | $9.0m | $6.4m | $15.4m | $11.6m | $1.8m | $6.4m | $12.4m | −$17.5m |
| Shares outstanding | 42m | 39m | 35m | 7m | 7m | 5m | 2m | 0m | 0m | 0m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −$14.5m | −$3.3m | −$6.2m | −$10.2m | −$9.5m | −$9.0m | −$10.3m | −$9.6m | −$6.2m | −$3.2m |
| Capital spending | −$1.7m | −$1.4m | −$145,816 | −$111,793 | −$326,462 | −$45,752 | −$51,991 | −$126,867 | −$67,002 | −$1,865 |
| Free cash flow | −$16.3m | −$4.7m | −$6.3m | −$10.3m | −$9.9m | −$9.1m | −$10.4m | −$9.7m | −$6.2m | −$3.2m |
| Dividends paid | — | — | — | — | — | −$1,855 | −$2.7m | — | — | — |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $11.7m | $10.1m | $11.4m | $10.1m | $9.7m | $9.8m | $12.1m | $9.2m |
| Operating income | −$3.5m | −$3.2m | −$3.0m | −$3.5m | −$4.6m | −$3.5m | −$245,314 | −$957,553 |
| Net income | −$4.0m | −$3.0m | −$3.8m | −$3.7m | −$4.6m | −$3.5m | −$260,081 | −$966,409 |
| Diluted earnings per share | -0.09 | -0.07 | -0.09 | -0.09 | -0.11 | -0.08 | -0.01 | -0.02 |
| Cash from operations | −$1.0m | −$2.0m | −$1.0m | −$1.0m | −$8.0m | −$2.0m | $3.0m | −$1.0m |
| Capital spending | — | — | — | −$1.0m | −$1.0m | — | — | — |
| Free cash flow | — | — | — | −$2.0m | −$9.0m | — | — | — |
| Total assets | $35.3m | $36.8m | $38.6m | $34.1m | $38.7m | $40.9m | $42.2m | $16.3m |
| Cash and short-term investments | $13.5m | $15.7m | $18.4m | $12.6m | $15.5m | $21.5m | $24.9m | $6.6m |
| Debt | $12.7m | $11.5m | $11.7m | $4.5m | $4.5m | $765,616 | $748,021 | $205,464 |
| Shareholders' equity | $5.8m | $9.0m | $11.4m | $14.6m | $17.6m | $21.7m | $24.7m | $9.3m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 38.1% | 40.1% | 50.4% |
| Operating income | 11.1% | 5.7% | 15.3% |
| Net income | 13.3% | 6.1% | 13.3% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -28.3% | -36.7% | -47.1% | -68.7% |
| Net margin | -29.6% | -37.5% | -48.2% | -74.5% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -2.5 | -24.9 | -13.3 | -0.2 | -1.6 | -1.0 | -0.3 | -0.3 | -0.5 |
| Price to sales | 0.9 | 4.7 | 5.6 | 0.1 | 1.2 | 1.5 | 0.8 | 1.4 | 3.6 |
Share price return
Finished calendar years
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Return | -74% | 11% | 954% | -89% | 10% | 35% | -81% | -54% | -52% |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years.
- 30-to-1 reverse split · 31 Jan 2020
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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