D 
11.47
+7.40%
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
$24.6m
FY2020FY2025
Net income
−$355.1m
FY2020FY2025
Free cash flow
−$75.8m
FY2020FY2025
Shareholders' equity
$852.2m
FY2020FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Revenue | $24.6m | $8.8m | $8.8m | $7.2m | $6.3m | $5.2m |
| Gross profit | $20.3m | $5.6m | $4.6m | $4.3m | $4.5m | $4.2m |
| Research and development | $50.7m | $35.3m | $37.9m | $32.1m | $25.4m | $20.4m |
| Operating income | −$100.4m | −$77.2m | −$80.5m | −$59.5m | −$39.2m | −$31.5m |
| Net income | −$355.1m | −$143.9m | −$82.7m | −$53.7m | −$41.0m | −$22.0m |
| Diluted earnings per share | -1.01 | -0.62 | -0.52 | -0.47 | -0.33 | -0.17 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Total assets | $915.8m | $199.9m | $59.4m | $26.9m | $29.5m | $47.5m |
| Cash and short-term investments | $884.5m | $178.0m | $41.3m | $7.1m | $9.5m | $21.3m |
| Total liabilities | $63.6m | $137.2m | $83.8m | $56.4m | $47.8m | $14.7m |
| Debt | $37.4m | $30.5m | $64.2m | $33.5m | $30.7m | $1.7m |
| Shareholders' equity | $852.2m | $62.6m | −$24.5m | −$29.5m | −$18.4m | $32.7m |
| Shares outstanding | 353m | 233m | 159m | 113m | 125m | 127m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Cash from operations | −$72.0m | −$42.6m | −$60.6m | −$45.2m | −$34.8m | −$29.3m |
| Capital spending | −$3.9m | −$2.1m | −$630,000 | −$498,000 | −$2.0m | −$789,000 |
| Free cash flow | −$75.8m | −$44.7m | −$61.3m | −$45.7m | −$36.8m | −$30.1m |
| Dividends paid | — | — | −$491,000 | — | — | — |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $3.1m | $2.9m | $2.8m | $3.7m | $3.1m | $15.0m | $2.3m | $1.9m |
| Gross profit | $1.7m | $1.8m | $1.8m | $2.7m | $2.0m | $13.9m | $1.5m | $1.0m |
| Operating income | −$53.3m | −$54.7m | −$34.8m | −$27.7m | −$26.5m | −$5.2m | −$85.7m | −$21.5m |
| Net income | −$48.0m | −$18.4m | −$42.3m | −$140.0m | −$167.3m | −$5.4m | −$86.1m | −$22.7m |
| Diluted earnings per share | -0.13 | -0.05 | -0.12 | -0.40 | -0.47 | -0.02 | -0.37 | -0.10 |
| Cash from operations | −$28.0m | −$44.0m | −$18.0m | −$19.0m | −$15.0m | −$19.0m | $2.0m | −$18.0m |
| Capital spending | −$4.0m | −$1.0m | −$1.0m | −$1.0m | — | — | — | — |
| Free cash flow | −$32.0m | −$45.0m | −$19.0m | −$20.0m | — | — | — | — |
| Total assets | $1.16bn | $1.20bn | $915.8m | $865.8m | $843.6m | $325.6m | $199.9m | $49.6m |
| Cash and short-term investments | $546.2m | $588.4m | $884.5m | $836.2m | $819.3m | $304.3m | $178.0m | $29.3m |
| Debt | $36.3m | $37.1m | $37.4m | $33.7m | $33.7m | $32.2m | $32.0m | $47.7m |
| Shareholders' equity | $1.08bn | $1.12bn | $852.2m | $670.6m | $694.3m | $207.4m | $62.6m | −$16.9m |
Financial ratios
Data as of 10 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 82.6% | 63.0% | 52.8% | 59.2% | 72.1% | 82.3% |
| Operating margin | -1427.8% | -1585.8% | -944.0% | -716.1% | -588.6% | -325.4% |
| Net margin | -1444.1% | -1630.0% | -944.5% | -748.7% | -652.5% | -425.7% |
| Return on equity | -41.7% | -229.7% | 337.9% | 182.3% | 223.2% | -67.1% |
| Return on assets | -38.8% | -72.0% | -139.4% | -199.3% | -139.0% | -46.3% |
| Free cash flow yield | -1.4% | -1.3% | -2.6% | -2.7% | -1.9% | -1.6% |
| Revenue growth | 178.5% | 0.8% | 22.1% | 14.2% | 21.7% | — |
| Earnings growth | 146.8% | 73.9% | 54.0% | 31.1% | 86.5% | — |
| Current ratio | 42.38x | 6.14x | 4.18x | 0.87x | 1.53x | 3.45x |
| Debt to equity | 0.04x | 0.51x | -2.68x | -0.40x | -0.78x | 0.10x |
| Equity ratio | 93.1% | 31.3% | -41.2% | -109.3% | -62.3% | 69.0% |
| Interest coverage | -87.48x | -35.92x | -38.37x | -22.00x | -9.21x | -3.24x |
| R&D as a share of sales | 206.3% | 399.9% | 432.5% | 447.5% | 404.5% | 395.6% |
| Buybacks as a share of market value | -51.5% | -46.7% | -40.2% | 9.6% | 1.3% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 50.8% | 36.7% | — |
| Operating income | 19.1% | 26.1% | — |
| Net income | 87.7% | 74.5% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 77.4% | 70.4% | 71.6% | — |
| Operating margin | -531.5% | -643.6% | -638.8% | — |
| Net margin | -1493.2% | -1287.6% | -1148.8% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Price to earnings | -26.0 | -8.7 | -1.1 | -1.9 | -19.2 | -38.4 |
| Price to sales | 375.4 | 141.6 | 10.2 | 14.5 | 125.3 | 163.7 |
Market value over time
31 Dec 2020 to 9 Oct 2026, in USD
$83.3m$5.40bn
Share price return
Finished calendar years
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|
| Return | 335% | 778% | -50% | -79% | -5% | 1% |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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