S 
27.71
+4.41%
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
$184.4m
FY2017FY2025
Net income
−$6.9m
FY2017FY2025
Free cash flow
$44.9m
FY2017FY2025
Shareholders' equity
$352.5m
FY2017FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $184.4m | $36.6m | $8.8m | $12.4m | $3.0m | — | — | — | — |
| Gross profit | $184.4m | $36.6m | $8.8m | $12.4m | −$2.2m | −$1.9m | −$450,000 | −$214,000 | −$113,000 |
| Research and development | $137.9m | $89.1m | $82.2m | $77.8m | $54.2m | $32.2m | $23.8m | $8.4m | $3.6m |
| Operating income | −$20.6m | −$101.4m | −$114.8m | −$104.4m | −$86.1m | −$53.0m | −$35.7m | −$12.8m | −$5.6m |
| Net income | −$6.9m | −$89.0m | −$104.7m | −$93.1m | −$84.7m | −$50.6m | −$28.5m | −$12.5m | −$5.6m |
| Diluted earnings per share | -0.12 | -1.56 | -2.33 | -2.36 | -2.30 | -1.44 | -1.13 | -0.53 | -0.24 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Total assets | $418.4m | $271.6m | $228.3m | $256.1m | $238.9m | $297.9m | $228.8m | $107.5m | $2.4m |
| Cash and short-term investments | $284.7m | $216.9m | $201.4m | $229.6m | $219.8m | $287.3m | $222.5m | $105.4m | $1.8m |
| Total liabilities | $66.0m | $42.5m | $68.8m | $71.2m | $21.1m | $11.8m | $4.3m | $2.5m | $3.7m |
| Debt | $3.0m | — | — | — | — | — | — | — | — |
| Shareholders' equity | $352.5m | $229.0m | $159.6m | $184.8m | $217.8m | $286.1m | $224.4m | $105.1m | −$1.3m |
| Shares outstanding | 58m | 57m | 45m | 39m | 37m | 35m | 25m | 24m | 24m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | $45.6m | −$86.9m | −$81.1m | −$31.9m | −$66.9m | −$42.2m | −$31.1m | −$11.0m | −$5.4m |
| Capital spending | −$670,000 | −$203,000 | −$1.6m | −$4.0m | −$1.2m | −$1.1m | −$1.6m | −$935,000 | −$113,000 |
| Free cash flow | $44.9m | −$87.1m | −$82.7m | −$35.8m | −$68.1m | −$43.3m | −$32.7m | −$11.9m | −$5.5m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $9.3m | $6.2m | $1.4m | $10.6m | $13.8m | $158.6m | $22.6m | $4.9m |
| Gross profit | $8.2m | $5.2m | $347,000 | $9.6m | $13.8m | $158.6m | $22.6m | $4.9m |
| Operating income | −$65.4m | −$53.4m | −$61.4m | −$43.1m | −$27.3m | $111.2m | −$13.7m | −$30.0m |
| Net income | −$61.6m | −$50.0m | −$57.9m | −$38.3m | −$23.5m | $112.9m | −$10.5m | −$26.4m |
| Diluted earnings per share | -0.93 | -0.76 | -0.99 | -0.66 | -0.40 | 1.93 | -0.18 | -0.46 |
| Cash from operations | −$56.0m | −$60.0m | −$30.0m | −$30.0m | −$25.0m | $131.0m | −$23.0m | −$21.0m |
| Capital spending | −$1.0m | — | — | — | — | — | — | — |
| Free cash flow | −$57.0m | — | — | — | — | — | — | — |
| Total assets | $394.0m | $443.3m | $418.4m | $360.3m | $384.5m | $406.9m | $271.6m | $293.3m |
| Cash and short-term investments | $292.8m | $343.5m | $284.7m | $248.3m | $247.7m | $357.3m | $216.9m | $239.2m |
| Debt | $1.8m | $2.4m | $3.0m | $2.9m | $2.3m | $2.4m | $2.3m | $2.3m |
| Shareholders' equity | $345.5m | $394.9m | $352.5m | $308.1m | $334.9m | $350.1m | $229.0m | $232.1m |
Financial ratios
Data as of 31 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 100.0% | 100.0% | 100.0% | 100.0% | -74.3% | — |
| Operating margin | -3.7% | -243.4% | -1192.5% | -841.2% | -2868.8% | — |
| Net margin | -3.7% | -243.4% | -1192.5% | -750.6% | -2823.7% | — |
| Return on equity | -2.0% | -38.9% | -65.6% | -50.4% | -38.9% | -17.7% |
| Return on assets | -1.6% | -32.8% | -45.9% | -36.4% | -35.5% | -17.0% |
| Free cash flow yield | 3.0% | -5.8% | -6.7% | -2.7% | -6.8% | -4.5% |
| Revenue growth | 404.5% | 316.3% | -29.2% | 313.5% | — | — |
| Earnings growth | -92.3% | -15.0% | 12.4% | 9.9% | 67.4% | 77.4% |
| Current ratio | 5.28x | 5.81x | 6.99x | 7.77x | 13.37x | 25.73x |
| Debt to equity | 0.01x | 0.01x | 0.01x | 0.01x | 0.01x | 0.00x |
| Equity ratio | 84.2% | 84.3% | 69.9% | 72.2% | 91.2% | 96.0% |
| Interest coverage | -765.00x | -7.04x | -10.57x | -33.43x | -717.21x | — |
| R&D as a share of sales | 74.8% | 243.8% | 936.6% | 627.5% | 1805.6% | — |
| Buybacks as a share of market value | -2.4% | -26.8% | -14.0% | -7.1% | -5.0% | -38.4% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 145.9% | — | — |
| Operating income | -41.8% | -17.2% | — |
| Net income | -58.0% | -32.9% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 100.0% | 100.0% | — | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Price to earnings | -269.2 | -7.1 | -2.3 | -3.9 | -10.4 | -42.9 | -25.2 |
| Price to sales | 10.1 | 17.2 | 26.9 | 29.3 | 294.6 | — | — |
Market value over time
28 Jun 2019 to 30 Oct 2026, in USD
$29.2m$1.74bn
Share price return
Finished calendar years
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|
| Return | 187% | 113% | -36% | -58% | -68% | 108% | 15% |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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