V 
3.25
+0.93%
Close of 6 Nov 2026, in USD
At a glance
Figures in USD, from our data supplier.
Revenue
$3.50bn
FY2020FY2025
Net income
−$3.75bn
FY2020FY2025
Free cash flow
−$2.61bn
FY2020FY2025
Shareholders' equity
−$6.73bn
FY2020FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Revenue | $3.50bn | $1.70bn | $1.08bn | $538.8m | $620.1m | $529.6m |
| Gross profit | −$1.49bn | −$977.9m | −$530.4m | −$504.7m | −$358.1m | −$259.0m |
| Research and development | $383.0m | $387.8m | $561.6m | $771.4m | $358.0m | $152.0m |
| Operating income | −$2.77bn | −$2.14bn | −$1.62bn | −$1.72bn | −$1.05bn | −$512.4m |
| Net income | −$3.75bn | −$2.99bn | −$2.33bn | −$2.05bn | −$1.25bn | −$733.1m |
| Diluted earnings per share | -1.60 | -1.28 | -1.00 | -0.88 | -0.54 | -0.31 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Total assets | $7.06bn | $6.03bn | $5.68bn | $4.39bn | $3.30bn | $3.59bn |
| Cash and short-term investments | $402.5m | $159.6m | $158.6m | $165.4m | $117.0m | $32.1m |
| Total liabilities | $10.64bn | $9.71bn | $8.21bn | $5.81bn | $6.28bn | $3.36bn |
| Debt | $5.03bn | $5.66bn | $4.90bn | $2.65bn | $2.93bn | $2.10bn |
| Shareholders' equity | −$6.73bn | −$6.37bn | −$5.52bn | −$4.41bn | −$2.98bn | $237.9m |
| Shares outstanding | 2,339m | 2,339m | 2,338m | 2,322m | 2,322m | 2,340m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Cash from operations | −$1.72bn | −$1.18bn | −$2.08bn | −$1.85bn | −$1.12bn | −$361.7m |
| Capital spending | −$889.0m | −$645.6m | −$965.3m | −$902.8m | −$232.4m | −$374.2m |
| Free cash flow | −$2.61bn | −$1.82bn | −$3.04bn | −$2.75bn | −$1.35bn | −$735.8m |
| Dividends paid | — | — | — | — | −$19.3m | −$19.3m |
Latest quarters
By quarter end
| Sept 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.17bn | $894.1m | $1.52bn | $700.2m | $642.5m | $630.8m | $638.2m | $476.9m |
| Gross profit | −$737.5m | −$657.8m | −$608.6m | −$393.3m | −$264.0m | −$221.9m | −$505.0m | −$114.4m |
| Operating income | −$1.09bn | −$884.4m | −$1.12bn | −$672.6m | −$507.6m | −$466.5m | −$871.0m | −$314.2m |
| Net income | −$1.48bn | −$1.09bn | −$1.36bn | −$926.6m | −$785.9m | −$683.6m | −$1.18bn | −$511.7m |
| Diluted earnings per share | -0.63 | -0.46 | -0.58 | -0.40 | -0.34 | -0.29 | -0.51 | -0.22 |
| Cash from operations | −$690.0m | −$516.0m | −$254.0m | −$432.0m | −$448.0m | −$583.0m | $39.0m | −$432.0m |
| Capital spending | −$227.0m | −$192.0m | −$288.0m | −$254.0m | −$205.0m | −$140.0m | −$236.0m | −$122.0m |
| Free cash flow | −$917.0m | −$708.0m | −$542.0m | −$686.0m | −$653.0m | −$723.0m | −$197.0m | −$554.0m |
| Total assets | $2.90bn | $7.16bn | $7.06bn | $7.09bn | $7.02bn | $6.12bn | $6.03bn | $5.87bn |
| Cash and short-term investments | $506.0m | $304.2m | $402.5m | $448.4m | $630.0m | $173.9m | — | $73.4m |
| Debt | $1.23bn | $4.29bn | $4.81bn | $3.16bn | $2.95bn | $2.41bn | $1.81bn | $2.77bn |
| Shareholders' equity | −$4.52bn | −$7.41bn | −$6.73bn | −$5.84bn | −$6.96bn | −$6.87bn | −$6.37bn | −$6.67bn |
Financial ratios
Data as of 26 Aug 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | -42.5% | -57.4% | -49.2% | -93.7% | -57.7% | -48.9% |
| Operating margin | -83.1% | -133.8% | -172.8% | -316.1% | -173.8% | -110.7% |
| Net margin | -107.3% | -175.5% | -215.8% | -379.7% | -200.8% | -138.4% |
| Return on equity | 55.8% | 46.9% | 42.1% | 46.3% | 41.8% | -308.1% |
| Return on assets | -53.1% | -49.5% | -41.0% | -46.6% | -37.7% | -20.4% |
| Free cash flow yield | -293877.8% | -188528.7% | -392783.8% | -338020.4% | -316403.9% | — |
| Revenue growth | 105.4% | 57.9% | 100.2% | -13.1% | 17.1% | — |
| Earnings growth | 25.6% | 28.4% | 13.8% | 64.3% | 69.8% | — |
| Current ratio | 0.52x | 0.38x | 0.33x | 0.68x | 0.31x | 1.02x |
| Debt to equity | -0.72x | -0.86x | -0.83x | -0.57x | -0.97x | 8.77x |
| Equity ratio | -95.2% | -105.6% | -97.2% | -100.4% | -90.2% | 6.6% |
| Interest coverage | -3.37x | -3.76x | -3.99x | -6.74x | -8.09x | -4.10x |
| R&D as a share of sales | 10.9% | 22.8% | 52.1% | 143.2% | 57.7% | 28.7% |
| Buybacks as a share of market value | -0.0% | -0.0% | -0.7% | 0.0% | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 125.1% | 49.5% | — |
| Operating income | 17.1% | 40.1% | — |
| Net income | 22.4% | 38.6% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | -47.4% | -51.3% | -51.7% | — |
| Operating margin | -94.5% | -121.1% | -123.2% | — |
| Net margin | -129.6% | -163.0% | -164.3% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Price to earnings | -2.1 | -3.1 | -8.4 | -6.4 | -10.2 |
| Price to sales | 3.0 | 9.8 | 32.0 | 56.5 | 28.6 |
Market value over time
31 Aug 2023 to 25 Aug 2026, in USD
$138.8m$7.32bn
Share price return
Finished calendar years
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Return | -17% | -49% | 42% | 3% | -1% |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
Nothing here is investment advice. Prices can be delayed or wrong, so check with the exchange before relying on them. Data for this page. How we cover markets.