A 
18.95
+3.67%
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
$247.0m
FY2016FY2025
Net income
−$353.0m
FY2016FY2025
Free cash flow
−$484.0m
FY2016FY2025
Shareholders' equity
$631.0m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $247.0m | $258.0m | $117.0m | $112.0m | $383.0m | $78.0m | $15.0m | $8.4m | $1.4m | — |
| Gross profit | $237.0m | $258.0m | $117.0m | $112.0m | $383.0m | $78.0m | $15.0m | $8.4m | $1.4m | −$1.3m |
| Research and development | $523.0m | $448.0m | $340.0m | $288.0m | $257.0m | $159.0m | $78.5m | $49.6m | $47.2m | $14.2m |
| Operating income | −$386.0m | −$330.0m | −$340.0m | −$280.0m | $54.0m | −$124.0m | −$88.7m | −$54.9m | −$53.4m | −$18.2m |
| Net income | −$353.0m | −$283.0m | −$307.0m | −$267.0m | $53.0m | −$123.0m | −$75.9m | −$49.6m | −$53.1m | −$18.0m |
| Diluted earnings per share | -3.29 | -3.09 | -4.09 | -3.68 | 0.70 | -1.94 | -1.72 | -1.15 | -2.16 | -17.97 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | $1.14bn | $1.15bn | $1.09bn | $1.34bn | $1.59bn | $772.3m | $203.1m | $274.9m | $190.5m | $109.7m |
| Cash and short-term investments | $981.0m | $978.0m | $759.0m | $1.01bn | $499.3m | $728.6m | $188.3m | $256.5m | $175.7m | $98.9m |
| Total liabilities | $508.0m | $665.0m | $633.0m | $688.0m | $750.4m | $270.0m | $39.3m | $40.0m | $36.6m | $10.2m |
| Debt | $112.0m | $48.0m | — | — | — | — | — | — | — | — |
| Shareholders' equity | $631.0m | $485.0m | $462.0m | $657.0m | $841.5m | $502.3m | $163.8m | $234.9m | $153.9m | $99.5m |
| Shares outstanding | 107m | 92m | 75m | 73m | 75m | 64m | 44m | 43m | 25m | 1m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −$482.0m | −$170.0m | −$306.0m | $438.0m | −$256.2m | $111.2m | −$73.5m | −$43.0m | −$25.1m | −$12.9m |
| Capital spending | −$2.0m | −$6.0m | −$24.0m | −$6.0m | −$26.1m | −$3.1m | −$1.9m | −$3.7m | −$5.5m | −$4.1m |
| Free cash flow | −$484.0m | −$176.0m | −$330.0m | $432.0m | −$282.2m | $108.1m | −$75.4m | −$46.7m | −$30.6m | −$17.0m |
| Dividends paid | — | — | — | — | −$5.0m | — | — | — | — | — |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $41.0m | $17.0m | $33.0m | $26.0m | $160.0m | $28.0m | $26.0m | $48.0m |
| Gross profit | $41.0m | $15.0m | $30.0m | $24.0m | $160.0m | $28.0m | $26.0m | $48.0m |
| Operating income | −$96.0m | −$134.0m | −$114.0m | −$142.0m | −$8.0m | −$122.0m | −$103.0m | −$105.0m |
| Net income | −$91.0m | −$128.0m | −$98.0m | −$135.0m | −$8.0m | −$112.0m | −$94.0m | −$92.0m |
| Diluted earnings per share | -0.72 | -1.02 | -0.91 | -1.26 | -0.07 | -1.04 | -1.03 | -1.00 |
| Cash from operations | −$119.0m | −$138.0m | −$120.0m | −$97.0m | −$133.0m | −$132.0m | −$100.0m | $26.0m |
| Capital spending | — | — | −$1.0m | — | — | −$1.0m | −$1.0m | −$1.0m |
| Free cash flow | — | — | −$121.0m | — | — | −$133.0m | −$101.0m | $25.0m |
| Total assets | $924.0m | $997.0m | $1.14bn | $974.0m | $1.07bn | $1.16bn | $1.15bn | $1.25bn |
| Cash and short-term investments | $702.0m | $822.0m | $981.0m | $831.0m | $911.0m | $997.0m | $978.0m | $1.09bn |
| Debt | $114.0m | $113.0m | $112.0m | $111.0m | $109.0m | $60.0m | $60.0m | $58.0m |
| Shareholders' equity | $464.0m | $524.0m | $631.0m | $436.0m | $549.0m | $531.0m | $485.0m | $565.0m |
Financial ratios
Data as of 28 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2018 | |
|---|---|---|---|---|---|---|---|
| Gross margin | 96.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | — |
| Operating margin | -139.7% | -108.1% | -255.6% | -235.7% | 14.4% | -157.7% | — |
| Net margin | -142.9% | -109.7% | -262.4% | -238.4% | 13.8% | -157.7% | — |
| Return on equity | -55.9% | -58.4% | -66.5% | -40.6% | 6.3% | -24.5% | — |
| Return on assets | -31.0% | -24.6% | -28.0% | -19.9% | 3.3% | -15.9% | — |
| Free cash flow yield | -24.6% | -9.9% | -20.7% | 33.7% | -16.8% | 9.9% | — |
| Revenue growth | -4.3% | 120.5% | 4.5% | -70.8% | 391.0% | 420.0% | — |
| Earnings growth | 24.7% | -7.8% | 15.0% | -603.8% | -143.1% | 62.0% | — |
| Current ratio | 4.36x | 4.50x | 4.52x | 5.52x | 7.60x | 6.05x | — |
| Debt to equity | 0.18x | 0.12x | 0.02x | 0.00x | 0.01x | 0.01x | — |
| Equity ratio | 55.4% | 42.2% | 42.2% | 48.8% | 52.9% | 65.0% | — |
| Interest coverage | -43.13x | -69.75x | -149.50x | -132.00x | 211.54x | — | -11.15x |
| R&D as a share of sales | 211.7% | 173.6% | 290.6% | 257.1% | 67.1% | 203.8% | — |
| Buybacks as a share of market value | -17.1% | -22.3% | -3.3% | 3.7% | -18.6% | -44.2% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 30.2% | 25.9% | — |
| Operating income | 11.3% | 25.5% | — |
| Net income | 9.8% | 23.5% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 98.0% | 98.6% | 99.2% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Price to earnings | -7.3 | -4.8 | -4.7 | -5.6 | 57.5 | -13.4 | -5.9 | -9.4 |
| Price to sales | 10.4 | 5.3 | 12.2 | 13.4 | 8.0 | 21.1 | 29.7 | 55.6 |
Market value over time
29 Mar 2018 to 27 Oct 2026, in USD
$30.9m$2.29bn
Share price return
Finished calendar years
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|
| Return | 45% | -17% | -40% | -27% | 31% | 237% | -6% | -41% |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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