N 
4.35
+4.57%
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
$62.9m
FY2018FY2025
Net income
−$204.6m
FY2018FY2025
Free cash flow
−$173.8m
FY2018FY2025
Shareholders' equity
$305.7m
FY2018FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $62.9m | $7.9m | — | — | — | — | — | — |
| Gross profit | $54.5m | $795,000 | −$222,000 | −$484,000 | −$368,000 | −$103,000 | — | — |
| Research and development | $115.1m | $524.2m | $71.3m | $87.8m | $69.0m | $32.6m | $25.1m | $482,667 |
| Operating income | −$213.1m | −$592.6m | −$99.8m | −$119.7m | −$93.3m | −$43.6m | −$32.1m | −$992,000 |
| Net income | −$204.6m | −$567.9m | −$75.8m | −$104.2m | −$86.8m | −$41.7m | −$33.6m | −$992,000 |
| Diluted earnings per share | -0.59 | -1.69 | -0.35 | -0.48 | -0.43 | -0.31 | -0.14 | -0.01 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Total assets | $594.8m | $540.6m | $621.5m | $672.1m | $776.2m | $221.8m | $121.0m | $158,000 |
| Cash and short-term investments | $529.2m | $502.7m | $611.2m | $661.0m | $765.4m | $215.8m | $118.9m | $138,000 |
| Total liabilities | $289.1m | $76.8m | $16.4m | $17.1m | $30.2m | $6.7m | $3.2m | $902,000 |
| Debt | $54.8m | $6.3m | — | — | — | — | — | $600,000 |
| Shareholders' equity | $305.7m | $463.8m | $605.1m | $655.1m | $746.0m | $215.1m | $117.7m | −$744,000 |
| Shares outstanding | 344m | 337m | 219m | 218m | 202m | 134m | 237m | 184m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | −$173.4m | −$130.4m | −$68.0m | −$96.1m | −$68.2m | −$36.5m | −$24.4m | −$616,000 |
| Capital spending | −$354,000 | −$162,000 | −$69,000 | −$370,000 | −$282,000 | −$145,000 | −$659,000 | −$659,000 |
| Free cash flow | −$173.8m | −$130.6m | −$68.1m | −$96.5m | −$68.5m | −$36.7m | −$25.1m | −$1.3m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $31.7m | $83.2m | $41.9m | $13.1m | $4.8m | $3.1m | $5.7m | $727,000 |
| Gross profit | $30.8m | $77.6m | $41.4m | $9.8m | $2.3m | $990,000 | $1.5m | −$788,000 |
| Operating income | −$56.1m | $5.5m | −$35.2m | −$56.4m | −$63.6m | −$59.0m | −$53.9m | −$48.1m |
| Net income | −$62.8m | $5.4m | −$36.6m | −$55.8m | −$59.0m | −$53.2m | −$49.4m | −$41.2m |
| Diluted earnings per share | -0.18 | 0.02 | -0.11 | -0.16 | -0.17 | -0.15 | -0.15 | -0.12 |
| Cash from operations | −$5.0m | $5.0m | −$29.0m | −$52.0m | −$48.0m | −$42.0m | −$46.0m | −$31.0m |
| Total assets | $744.5m | $610.2m | $594.8m | $601.6m | $647.2m | $492.5m | $540.6m | $571.6m |
| Cash and short-term investments | $661.0m | $533.7m | $529.2m | $549.0m | $607.7m | $461.7m | $502.7m | $549.1m |
| Debt | $250.2m | $55.0m | $54.8m | $54.6m | $54.4m | $7.6m | $7.9m | $10.2m |
| Shareholders' equity | $253.9m | $319.6m | $305.7m | $325.9m | $372.9m | $419.5m | $463.8m | $502.7m |
Financial ratios
Data as of 30 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2018 | |
|---|---|---|---|---|---|---|---|
| Gross margin | 86.6% | 10.1% | — | — | — | — | — |
| Operating margin | -303.6% | -7209.4% | — | — | — | — | — |
| Net margin | -325.3% | -7213.8% | — | — | — | — | — |
| Return on equity | -66.9% | -122.5% | -12.5% | -15.9% | -11.6% | -19.4% | — |
| Return on assets | -34.4% | -105.1% | -12.2% | -15.5% | -11.2% | -18.8% | — |
| Free cash flow yield | -10.5% | -8.1% | -6.5% | -9.2% | -7.0% | -5.7% | — |
| Revenue growth | 699.0% | — | — | — | — | — | — |
| Earnings growth | -64.0% | 649.2% | -27.3% | 20.0% | 108.5% | 24.2% | — |
| Current ratio | 6.95x | 9.04x | 44.11x | 50.70x | 45.62x | 33.69x | — |
| Debt to equity | 0.18x | 0.02x | 0.00x | 0.00x | 0.00x | — | -0.81x |
| Equity ratio | 51.4% | 85.8% | 97.4% | 97.5% | 96.1% | 97.0% | — |
| Interest coverage | -13.96x | -1664.51x | — | -11.38x | -134.86x | — | — |
| R&D as a share of sales | 183.0% | 6658.1% | — | — | — | — | — |
| Buybacks as a share of market value | -2.2% | -53.9% | -0.2% | -7.9% | -51.6% | 43.7% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Operating income | 21.2% | 37.4% | — |
| Net income | 25.2% | 37.5% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 78.1% | — | — | — |
| Operating margin | -1138.4% | — | — | — |
| Net margin | -1091.6% | — | — | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Price to earnings | -15.1 | -1.6 | -4.4 | -4.0 | -19.8 | -37.5 |
| Price to sales | 49.0 | 113.8 | — | — | — | — |
Market value over time
31 Aug 2020 to 29 Oct 2026, in USD
$890.0m$1.66bn
Share price return
Finished calendar years
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|
| Return | 244% | 80% | -14% | -79% | -21% | 6% |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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