S 
7.02
+6.53%
Close of 9 Nov 2026, in USD
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At a glance
Figures in USD, from our data supplier.
Revenue
—
FY2016FY2025
Net income
−$174.3m
FY2016FY2025
Free cash flow
−$157.4m
FY2016FY2025
Shareholders' equity
$180.0m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | — | — | — | $8.1m | $13.6m | $3.3m | — | — | — | — |
| Gross profit | −$1.6m | −$2.5m | −$2.6m | $8.1m | $13.6m | −$3.9m | −$2.8m | −$1.6m | −$448,000 | −$56,000 |
| Research and development | $140.3m | $96.4m | $76.6m | $78.4m | $58.7m | $64.9m | $94.7m | $58.0m | $39.9m | $20.1m |
| Operating income | −$179.2m | −$129.7m | −$104.3m | −$106.5m | −$72.3m | −$86.5m | −$119.3m | −$75.7m | −$54.9m | −$25.6m |
| Net income | −$174.3m | −$124.7m | −$96.0m | −$86.0m | −$72.2m | −$88.3m | −$117.2m | −$74.8m | −$52.1m | −$21.5m |
| Diluted earnings per share | -1.84 | -2.33 | -3.31 | -10.72 | -9.64 | -18.76 | -36.59 | -32.27 | -40.65 | -12.29 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | $232.5m | $188.7m | $164.9m | $260.3m | $232.4m | $171.2m | $103.5m | $139.6m | $76.2m | $40.6m |
| Cash and short-term investments | $187.8m | $148.9m | $123.6m | $213.7m | $207.8m | $154.7m | $83.5m | $122.5m | $69.1m | $37.7m |
| Total liabilities | $52.5m | $51.4m | $38.5m | $48.6m | $24.2m | $39.1m | $23.4m | $14.4m | $135.4m | $78.5m |
| Debt | $2.1m | $1.2m | $1.7m | $2.4m | $500,000 | $700,000 | $900,000 | $1.0m | — | — |
| Shareholders' equity | $180.0m | $137.2m | $126.5m | $211.7m | $208.2m | $132.1m | $80.0m | $125.2m | −$59.3m | −$84.4m |
| Shares outstanding | 95m | 54m | 29m | 8m | 7m | 5m | 3m | 2m | 1m | 2m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −$156.3m | −$100.0m | −$94.2m | −$98.0m | −$77.8m | −$56.6m | −$92.7m | −$70.2m | −$43.2m | −$20.1m |
| Capital spending | −$1.2m | −$654,000 | −$1.5m | −$3.0m | −$1.3m | −$899,000 | −$4.4m | −$7.8m | −$2.3m | −$392,000 |
| Free cash flow | −$157.4m | −$100.7m | −$95.7m | −$101.0m | −$79.0m | −$57.5m | −$97.1m | −$78.0m | −$45.5m | −$20.5m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | — | — | — | — | — | — | $3.1m | — |
| Gross profit | — | −$395,000 | −$467,000 | −$376,000 | −$386,000 | −$407,000 | −$488,000 | −$405,000 |
| Operating income | −$57.4m | −$57.3m | −$49.4m | −$48.1m | −$41.7m | −$40.1m | −$39.9m | −$35.2m |
| Net income | −$54.8m | −$56.7m | −$49.8m | −$45.8m | −$39.5m | −$39.3m | −$42.6m | −$32.7m |
| Diluted earnings per share | -0.38 | -0.39 | -0.53 | -0.48 | -0.42 | -0.41 | -0.80 | -0.61 |
| Cash from operations | −$52.0m | −$47.0m | −$53.0m | −$33.0m | −$37.0m | −$31.0m | −$29.0m | −$23.0m |
| Total assets | $420.6m | $422.9m | $232.5m | $273.9m | $308.3m | $343.9m | $188.7m | $211.8m |
| Cash and short-term investments | $377.7m | $381.3m | $187.8m | $236.1m | $268.1m | $306.9m | $148.9m | $171.1m |
| Debt | $2.2m | $2.2m | $2.1m | $2.3m | $2.9m | $3.0m | $3.0m | $2.8m |
| Shareholders' equity | $374.1m | $374.1m | $180.0m | $217.9m | $258.3m | $294.5m | $137.2m | $167.0m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Operating income | 19.0% | 15.7% | 39.2% |
| Net income | 26.6% | 14.6% | 39.2% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Price to earnings | -3.1 | -1.7 | -1.9 | -0.5 | -2.7 | -6.1 | -1.8 | -1.0 |
| Price to sales | — | — | — | 5.3 | 14.4 | 160.5 | — | — |
Share price return
Finished calendar years
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|
| Return | 31% | -25% | -11% | -80% | -73% | 78% | 116% | 187% |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years.
- 15-to-1 reverse split · 28 Oct 2022
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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