N 
19.00
+0.53%
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
$22.5m
FY2020FY2025
Net income
−$203.8m
FY2020FY2025
Free cash flow
−$148.0m
FY2020FY2025
Shareholders' equity
$683.4m
FY2020FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Revenue | $22.5m | $45.6m | $16.3m | $118.5m | — | — |
| Gross profit | $22.4m | $45.6m | $16.3m | $118.5m | −$16,801 | — |
| Research and development | $141.8m | $151.4m | $184.0m | $100.1m | $33.4m | $5.7m |
| Operating income | −$225.7m | −$176.3m | −$211.2m | −$4.1m | −$47.7m | −$7.7m |
| Net income | −$203.8m | −$241.6m | −$204.2m | −$26.1m | −$48.2m | −$8.1m |
| Diluted earnings per share | -1.78 | -2.49 | -2.48 | -1.42 | -2.72 | -0.46 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Total assets | $769.3m | $864.6m | $400.6m | $552.2m | $78.5m | $161.4m |
| Cash and short-term investments | $636.2m | $834.2m | $392.9m | $539.8m | $69.7m | $1.6m |
| Total liabilities | $85.9m | $107.1m | $67.8m | $55.9m | $13.1m | $14.3m |
| Debt | $136,000 | $246,000 | $69,246 | $118,000 | — | — |
| Shareholders' equity | $683.4m | $757.5m | $332.8m | $496.3m | $65.4m | $147.1m |
| Shares outstanding | 114m | 97m | 82m | 18m | 18m | 18m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Cash from operations | −$147.8m | −$158.6m | −$163.0m | $12.3m | −$34.1m | −$8.5m |
| Capital spending | −$246,000 | −$672,000 | −$27,698 | −$255,056 | −$27,698 | −$18,453 |
| Free cash flow | −$148.0m | −$159.2m | −$163.0m | $12.1m | −$34.1m | −$8.5m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $3.7m | $3.0m | $32,000 | $348,000 | $19.1m | $3.0m | $12.8m | $33.6m |
| Gross profit | $3.7m | $2.5m | −$27,000 | $348,000 | $19.1m | $3.0m | $12.8m | $33.6m |
| Operating income | −$64.9m | −$58.4m | −$66.0m | −$55.1m | −$35.6m | −$68.9m | −$43.2m | −$28.9m |
| Net income | −$64.1m | −$48.4m | −$74.9m | −$72.0m | −$17.4m | −$39.5m | −$92.2m | −$19.2m |
| Diluted earnings per share | -0.52 | -0.39 | -0.65 | -0.63 | -0.15 | -0.35 | -0.95 | -0.20 |
| Cash from operations | −$39.0m | −$30.0m | −$40.0m | −$32.0m | −$37.0m | −$36.0m | −$37.0m | −$14.0m |
| Total assets | $704.5m | $732.6m | $769.3m | $786.4m | $815.1m | $818.4m | $864.6m | $506.9m |
| Cash and short-term investments | $633.9m | $636.1m | $636.2m | $702.9m | $739.2m | $808.5m | $834.2m | $487.9m |
| Debt | $26,000 | $23,000 | $136,000 | $181,000 | $225,000 | $252,000 | $246,000 | $276,984 |
| Shareholders' equity | $631.4m | $665.2m | $683.4m | $728.1m | $778.5m | $777.4m | $757.5m | $437.2m |
Financial ratios
Data as of 22 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 99.7% | 100.0% | 100.0% | 100.0% | — | — |
| Operating margin | -1077.8% | -530.3% | -1255.6% | -21.8% | — | — |
| Net margin | -905.7% | -530.3% | -1255.8% | -22.0% | — | — |
| Return on equity | -29.8% | -31.9% | -61.4% | -5.3% | -73.8% | -5.5% |
| Return on assets | -26.5% | -27.9% | -51.0% | -4.7% | -61.5% | -5.0% |
| Free cash flow yield | -6.0% | -7.6% | -8.0% | 2.8% | -7.7% | -1.9% |
| Revenue growth | -50.6% | 223.4% | -86.3% | — | — | — |
| Earnings growth | -15.6% | 36.5% | 681.7% | -45.8% | 495.0% | — |
| Current ratio | 7.88x | 8.08x | 6.95x | 13.26x | 5.96x | 7.90x |
| Debt to equity | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.09x |
| Equity ratio | 88.8% | 87.6% | 83.1% | 89.9% | 83.3% | 91.1% |
| Interest coverage | — | — | -26.02x | -77.86x | -100.67x | -19.28x |
| R&D as a share of sales | 630.3% | 332.3% | 1131.5% | 84.5% | — | — |
| Buybacks as a share of market value | -17.9% | -17.6% | -349.3% | -3.4% | 0.0% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -42.5% | — | — |
| Operating income | 280.2% | 96.8% | — |
| Net income | 98.3% | 90.6% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 99.9% | 100.0% | — | — |
| Operating margin | -590.6% | -304.3% | — | — |
| Net margin | -654.4% | -333.1% | — | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Price to earnings | -19.7 | -10.3 | -4.5 | -7.7 | -3.6 |
| Price to sales | 178.3 | 54.7 | 56.6 | 1.7 | — |
Market value over time
26 Feb 2021 to 21 Oct 2026, in USD
$30.7m$2.65bn
Share price return
Finished calendar years
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Return | 31% | 141% | -5% | 16% | -8% |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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