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At a glance
Figures in USD, from our data supplier.
Net income
−$84.0m
FY2017FY2025
Free cash flow
−$41.8m
FY2017FY2025
Shareholders' equity
−$35.7m
FY2017FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Gross profit | −$142,000 | −$186,000 | −$322,000 | −$175,000 | −$344,000 | −$332,000 | −$188,000 | −$51,000 | −$45,000 |
| Research and development | $35.4m | $18.6m | $9.4m | $25.2m | $60.8m | $61.3m | $30.2m | $10.1m | $9.1m |
| Operating income | −$50.4m | −$57.3m | −$34.6m | −$52.0m | −$90.3m | −$78.9m | −$39.2m | −$12.1m | −$10.4m |
| Net income | −$84.0m | −$56.8m | −$31.4m | −$51.7m | −$89.9m | −$76.8m | −$37.0m | −$12.5m | −$12.2m |
| Diluted earnings per share | -301.43 | -262.73 | -0.73 | -285.89 | -604.47 | -521.36 | -274.74 | -115.73 | -2.00 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Total assets | $93.5m | $114.5m | $180.2m | $103.9m | $133.2m | $189.5m | $124.4m | $72.9m | $7.7m |
| Cash and short-term investments | $17.8m | $40.8m | $75.1m | $90.2m | $106.8m | $133.8m | $99.9m | $71.7m | $7.3m |
| Total liabilities | $129.2m | $84.3m | $95.1m | $3.3m | $14.6m | $17.2m | $8.9m | $1.5m | $28.0m |
| Debt | $18.5m | $14.8m | $13.8m | $453,000 | $1.2m | $446,000 | — | — | $7.2m |
| Shareholders' equity | −$35.7m | $30.1m | $85.1m | $100.6m | $118.6m | $172.3m | $115.5m | $71.4m | −$20.3m |
| Shares outstanding | 0m | 0m | 43m | 0m | 0m | 0m | 0m | 0m | 6m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −$41.4m | −$31.9m | −$18.3m | −$44.0m | −$62.9m | −$50.8m | −$33.3m | −$11.7m | −$9.8m |
| Capital spending | −$352,000 | −$257,000 | −$160,000 | −$133,000 | −$180,000 | −$52,000 | −$55,000 | −$212,000 | −$77,000 |
| Free cash flow | −$41.8m | −$32.2m | −$18.5m | −$44.2m | −$63.1m | −$50.9m | −$33.3m | −$11.9m | −$9.9m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | — | — | — | — | — | — | $168,000 | — |
| Gross profit | −$59.0m | −$36,000 | — | −$36,000 | −$35,000 | −$32,000 | −$16,000 | −$86,000 |
| Operating income | −$79.8m | −$11.1m | −$16.2m | −$13.4m | −$9.9m | −$14.9m | −$10.1m | −$5.9m |
| Net income | −$75.5m | $35.9m | −$39.5m | −$13.4m | −$16.0m | −$15.0m | −$12.5m | −$5.5m |
| Diluted earnings per share | -12.31 | 5.86 | -141.63 | -48.25 | -57.61 | -53.95 | -57.60 | -25.39 |
| Cash from operations | −$18.0m | −$7.0m | −$10.0m | −$9.0m | −$11.0m | −$9.0m | −$7.0m | −$7.0m |
| Total assets | $124.0m | $26.6m | $93.5m | $109.9m | $117.2m | $107.1m | $114.5m | $126.5m |
| Cash and short-term investments | $116.0m | $18.2m | — | $26.3m | $34.7m | $31.6m | $40.8m | $47.8m |
| Debt | — | $113,000 | — | $17.6m | $17.1m | $15.4m | $14.4m | $15.0m |
| Shareholders' equity | $108.5m | $15.7m | −$35.7m | $1.1m | $11.7m | $18.6m | $30.1m | $44.9m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Operating income | -1.0% | -8.6% | — |
| Net income | 17.6% | 1.8% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Price to earnings | -0.5 | -0.3 | -67.1 | -0.1 | -1.0 | -0.4 | -1.4 |
Share price return
Finished calendar years
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|
| Return | 88% | 69% | 71% | -95% | 167% | -53% | 101% |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years.
- 20-to-1 reverse split · 30 Jun 2026
- 10-to-1 reverse split · 13 Apr 2026
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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