V 
30.61
+2.75%
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
—
FY2019FY2025
Net income
−$299.6m
FY2019FY2025
Free cash flow
−$241.7m
FY2019FY2025
Shareholders' equity
$604.5m
FY2019FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Revenue | — | — | $1.9m | — | — | — | — |
| Gross profit | −$468,000 | −$2.2m | $1.9m | $846,000 | −$176,000 | −$251,000 | −$509,000 |
| Research and development | $215.3m | $126.2m | $78.2m | $69.0m | $22.5m | $43.9m | $7.3m |
| Operating income | −$315.5m | −$167.2m | −$102.0m | −$90.9m | −$34.4m | −$53.2m | −$12.0m |
| Net income | −$299.6m | −$152.1m | −$96.0m | −$89.1m | −$32.6m | −$53.4m | −$11.9m |
| Diluted earnings per share | -4.66 | -2.77 | -2.16 | -3.20 | -1.53 | -2.61 | -3.46 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Total assets | $734.7m | $655.7m | $175.5m | $131.4m | $83.7m | $54.6m | $5.4m |
| Cash and short-term investments | $714.6m | $640.9m | $160.7m | $114.7m | $79.7m | $53.7m | $3.2m |
| Total liabilities | $130.2m | $78.5m | $73.9m | $54.5m | $14.2m | $143.9m | $41.9m |
| Debt | $75.4m | $50.7m | $49.9m | $24.8m | $4.9m | — | $100,000 |
| Shareholders' equity | $604.5m | $577.2m | $101.7m | $76.9m | $69.6m | −$89.3m | −$36.5m |
| Shares outstanding | 64m | 55m | 44m | 28m | 21m | 20m | 3m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Cash from operations | −$241.1m | −$134.7m | −$92.2m | −$67.6m | −$23.7m | −$34.8m | −$10.3m |
| Capital spending | −$630,000 | −$972,000 | −$63,000 | −$62,000 | — | −$99,000 | −$125,000 |
| Free cash flow | −$241.7m | −$135.7m | −$92.2m | −$67.7m | −$23.7m | −$34.9m | −$10.4m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Gross profit | — | −$256,000 | $1.1m | −$564,000 | −$563,000 | — | — | — |
| Operating income | −$112.5m | −$125.1m | −$94.2m | −$83.9m | −$80.1m | −$57.2m | −$48.9m | −$49.8m |
| Net income | −$109.5m | −$121.0m | −$91.1m | −$80.3m | −$76.5m | −$51.7m | −$43.4m | −$46.6m |
| Diluted earnings per share | -1.52 | -1.68 | -1.42 | -1.25 | -1.19 | -0.80 | -0.79 | -0.85 |
| Cash from operations | −$100.0m | −$106.0m | −$69.0m | −$61.0m | −$54.0m | −$54.0m | −$39.0m | −$36.0m |
| Capital spending | — | — | — | — | — | — | — | −$25.0m |
| Free cash flow | — | — | — | — | — | — | — | −$61.0m |
| Total assets | $533.0m | $621.7m | $734.7m | $517.5m | $578.5m | $610.2m | $655.7m | $368.6m |
| Cash and short-term investments | $499.2m | $596.8m | $714.6m | $497.4m | $556.8m | $589.8m | $640.9m | $353.3m |
| Debt | — | $75.0m | $75.4m | $75.1m | $75.3m | $52.1m | $52.2m | $52.3m |
| Shareholders' equity | $407.8m | $499.7m | $604.5m | $398.9m | $468.3m | $535.0m | $577.2m | $289.1m |
Financial ratios
Data as of 24 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | — | — | 100.0% | — | — | — |
| Operating margin | — | — | -4951.8% | — | — | — |
| Net margin | — | — | -5155.2% | — | — | — |
| Return on equity | -49.6% | -26.4% | -94.4% | -115.8% | -46.9% | 59.8% |
| Return on assets | -40.8% | -23.2% | -54.7% | -67.8% | -38.9% | -97.9% |
| Free cash flow yield | -13.4% | -8.7% | -7.4% | -8.7% | — | -6.1% |
| Earnings growth | 96.9% | 58.5% | 7.8% | 173.1% | -38.9% | 350.6% |
| Current ratio | 13.64x | 25.67x | 7.71x | 4.91x | 10.73x | 22.55x |
| Debt to equity | 0.12x | 0.09x | 0.51x | 0.36x | 0.07x | -0.00x |
| Equity ratio | 82.3% | 88.0% | 57.9% | 58.5% | 83.1% | -163.8% |
| Interest coverage | -38.78x | -18.95x | -24.35x | -91.64x | -1720.10x | -320.76x |
| R&D as a share of sales | — | — | 4201.1% | — | — | — |
| Buybacks as a share of market value | -17.0% | -23.5% | -59.9% | -30.7% | -3.9% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Operating income | 51.4% | 42.7% | — |
| Net income | 49.8% | 41.2% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Price to earnings | -10.9 | -15.3 | -7.1 | -2.1 | -6.2 |
| Price to sales | — | — | 367.2 | — | — |
Market value over time
25 Feb 2009 to 23 Oct 2026, in USD
$3.3m$2.01bn
Share price return
Finished calendar years
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Return | 15% | 159% | 142% | -8% | 76% |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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