P 
22.37
+8.49%
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
$308.1m
FY2019FY2025
Net income
−$95.6m
FY2019FY2025
Free cash flow
−$58.3m
FY2019FY2025
Shareholders' equity
$365.9m
FY2019FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Revenue | $308.1m | $224.5m | $136.2m | $75.0m | $34.5m | $7.7m | $6.2m |
| Gross profit | $196.2m | $137.1m | $71.0m | $37.1m | $15.9m | −$1.3m | −$1.9m |
| Research and development | $71.3m | $62.3m | $48.4m | $29.0m | $19.0m | $16.3m | $13.1m |
| Operating income | −$103.9m | −$96.6m | −$109.2m | −$84.5m | −$54.2m | −$47.9m | −$43.5m |
| Net income | −$95.6m | −$91.4m | −$105.9m | −$87.2m | −$59.9m | −$53.0m | −$42.0m |
| Diluted earnings per share | -1.70 | -1.70 | -2.09 | -1.95 | -1.37 | -1.51 | -1.25 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Total assets | $508.1m | $534.0m | $404.7m | $309.3m | $337.0m | $126.0m | $62.0m |
| Cash and short-term investments | $286.5m | $333.7m | $257.2m | $222.6m | $304.3m | $100.1m | $42.0m |
| Total liabilities | $142.2m | $131.8m | $124.0m | $112.3m | $69.9m | $65.0m | $32.8m |
| Debt | $51.6m | $51.5m | $51.3m | $51.2m | $50.0m | $49.0m | $23.2m |
| Shareholders' equity | $365.9m | $402.2m | $280.8m | $197.1m | $267.1m | $61.0m | $29.2m |
| Shares outstanding | 56m | 54m | 51m | 45m | 44m | 35m | 34m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Cash from operations | −$49.0m | −$99.2m | −$108.0m | −$80.4m | −$57.3m | −$48.3m | −$43.8m |
| Capital spending | −$9.4m | −$4.4m | −$25.2m | −$2.7m | −$592,000 | −$233,000 | −$7.6m |
| Free cash flow | −$58.3m | −$103.6m | −$133.2m | −$83.0m | −$57.9m | −$48.6m | −$51.4m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $94.5m | $83.1m | $76.4m | $83.3m | $79.2m | $69.2m | $68.2m | $58.4m |
| Gross profit | $62.4m | $53.9m | $46.3m | $52.4m | $50.2m | $44.2m | $43.7m | $36.9m |
| Operating income | −$27.4m | −$32.6m | −$31.0m | −$23.2m | −$22.2m | −$27.4m | −$19.7m | −$22.4m |
| Net income | −$26.9m | −$31.6m | −$29.8m | −$21.4m | −$19.6m | −$24.7m | −$18.9m | −$21.0m |
| Diluted earnings per share | -0.48 | -0.56 | -0.53 | -0.38 | -0.35 | -0.44 | -0.35 | -0.39 |
| Cash from operations | −$57.0m | −$38.0m | −$10.0m | −$6.0m | −$15.0m | −$16.0m | −$32.0m | −$18.0m |
| Capital spending | −$5.0m | −$2.0m | −$1.0m | −$2.0m | −$2.0m | −$1.0m | −$1.0m | — |
| Free cash flow | −$62.0m | −$40.0m | −$11.0m | −$8.0m | −$17.0m | −$17.0m | −$33.0m | — |
| Total assets | $479.4m | $487.1m | $508.1m | $511.5m | $513.1m | $519.4m | $534.0m | $374.1m |
| Cash and short-term investments | $227.9m | $245.6m | $286.5m | $294.3m | $302.7m | $316.2m | $333.7m | $196.8m |
| Debt | $54.2m | $54.0m | $53.8m | $53.7m | $53.6m | $53.5m | $53.4m | $53.3m |
| Shareholders' equity | $340.1m | $347.7m | $365.9m | $380.3m | $385.8m | $389.2m | $402.2m | $241.2m |
Financial ratios
Data as of 3 Nov 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 63.7% | 61.1% | 52.2% | 49.4% | 46.0% | -16.3% |
| Operating margin | -29.8% | -38.9% | -74.8% | -109.3% | -156.8% | -618.9% |
| Net margin | -31.0% | -40.7% | -77.8% | -116.2% | -173.6% | -687.0% |
| Return on equity | -26.1% | -22.7% | -37.7% | -44.2% | -22.4% | -87.0% |
| Return on assets | -18.8% | -17.1% | -26.2% | -28.2% | -17.8% | -42.1% |
| Free cash flow yield | -3.6% | -9.1% | -8.4% | -8.9% | -6.7% | -7.0% |
| Revenue growth | 37.2% | 64.8% | 81.6% | 117.6% | 346.7% | 25.1% |
| Earnings growth | 4.5% | -13.7% | 21.5% | 45.6% | 12.9% | 26.3% |
| Current ratio | 6.85x | 9.07x | 7.63x | 7.73x | 20.08x | 7.57x |
| Debt to equity | 0.15x | 0.13x | 0.19x | 0.27x | 0.20x | 0.83x |
| Equity ratio | 72.0% | 75.3% | 69.4% | 63.7% | 79.2% | 48.4% |
| Interest coverage | -25.60x | -20.85x | -25.51x | -15.82x | -9.30x | -9.08x |
| R&D as a share of sales | 23.1% | 27.7% | 35.6% | 38.6% | 55.1% | 210.9% |
| Buybacks as a share of market value | -4.1% | -6.4% | -13.0% | -2.8% | -23.9% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 63.4% | 162.2% | — |
| Operating income | 7.1% | 16.7% | — |
| Net income | 3.1% | 12.5% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 62.6% | 59.4% | 58.0% | — |
| Operating margin | -37.6% | -53.0% | -63.1% | — |
| Net margin | -35.1% | -51.1% | -62.7% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Price to earnings | -18.5 | -47.4 | -20.0 | -21.3 | -18.2 |
| Price to sales | 5.8 | 19.7 | 16.0 | 26.6 | 38.0 |
Market value over time
30 Sept 2021 to 2 Nov 2026, in USD
$457.8m$1.10bn
Share price return
Finished calendar years
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Return | -60% | 95% | -3% | 72% | -40% |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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