W 
3.48
+3.26%
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
$42.7m
FY2016FY2025
Net income
−$204.4m
FY2016FY2025
Free cash flow
−$188.2m
FY2016FY2025
Shareholders' equity
$526.2m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $42.7m | $108.3m | $113.3m | $3.6m | $41.0m | $20.1m | $16.0m | $14.4m | $3.7m | $1.5m |
| Research and development | $182.8m | $159.7m | $130.0m | $115.9m | $121.9m | $130.9m | $175.4m | $134.4m | $79.3m | $40.8m |
| Operating income | −$215.4m | −$110.4m | −$68.0m | −$162.7m | −$127.0m | −$153.4m | −$208.3m | −$159.5m | −$102.6m | −$55.3m |
| Net income | −$204.4m | −$97.0m | −$57.5m | −$161.8m | −$122.2m | −$149.9m | −$193.6m | −$146.7m | −$102.0m | −$55.4m |
| Diluted earnings per share | -1.13 | -0.56 | -0.52 | -1.72 | -2.14 | -3.07 | -5.64 | -4.50 | -3.65 | -2.35 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | $638.5m | $352.2m | $274.9m | $146.4m | $207.0m | $279.2m | $284.3m | $295.9m | $181.8m | $164.8m |
| Cash and short-term investments | $602.1m | $302.1m | $200.4m | $88.5m | $150.6m | $184.5m | $147.2m | $174.8m | $142.5m | $150.3m |
| Total liabilities | $112.3m | $142.7m | $235.3m | $191.5m | $174.5m | $188.6m | $212.6m | $222.6m | $42.0m | $29.9m |
| Debt | — | — | — | — | — | — | — | — | — | $100,000 |
| Shareholders' equity | $526.2m | $209.5m | $39.6m | −$45.1m | $32.5m | $90.7m | $71.6m | $73.3m | $139.8m | $134.9m |
| Shares outstanding | 180m | 172m | 110m | 94m | 57m | 49m | 34m | 33m | 28m | 24m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −$187.5m | −$151.0m | −$19.4m | −$127.8m | −$89.0m | −$116.0m | −$188.2m | −$22.9m | −$83.7m | −$31.9m |
| Capital spending | −$718,000 | −$938,000 | −$1.1m | −$1.4m | −$560,000 | −$1.3m | −$3.9m | −$9.9m | −$18.9m | −$5.6m |
| Free cash flow | −$188.2m | −$152.0m | −$20.5m | −$129.1m | −$89.6m | −$117.3m | −$192.1m | −$32.8m | −$102.6m | −$37.4m |
| Dividends paid | — | — | — | — | — | — | — | — | — | −$30.0m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $2.3m | $38.2m | $17.2m | $7.6m | $8.7m | $9.2m | $83.7m | −$7.7m |
| Operating income | −$73.8m | −$31.3m | −$56.5m | −$56.4m | −$52.8m | −$49.8m | $23.0m | −$63.9m |
| Net income | −$69.4m | −$26.1m | −$53.2m | −$53.9m | −$50.5m | −$46.9m | $29.3m | −$61.8m |
| Diluted earnings per share | -0.34 | -0.13 | -0.30 | -0.30 | -0.28 | -0.26 | 0.17 | -0.36 |
| Cash from operations | −$48.0m | −$59.0m | −$32.0m | −$44.0m | −$46.0m | −$63.0m | −$43.0m | −$46.0m |
| Total assets | $558.3m | $583.5m | $638.5m | $241.4m | $252.4m | $288.3m | $352.2m | $358.5m |
| Cash and short-term investments | $490.6m | $544.6m | $602.1m | $196.2m | $208.5m | $243.1m | $302.1m | $310.9m |
| Debt | $3.5m | $8.3m | $8.4m | $8.4m | $8.1m | $7.9m | $7.6m | $7.4m |
| Shareholders' equity | $453.5m | $511.7m | $526.2m | $124.5m | $139.3m | $171.8m | $209.5m | $149.5m |
Financial ratios
Data as of 27 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|
| Operating margin | -478.3% | -89.6% | -51.4% | -4459.3% | -298.9% | -763.9% | — | — | — |
| Net margin | -478.3% | -89.6% | -50.8% | -4434.7% | -298.4% | -746.7% | — | — | — |
| Return on equity | -38.8% | -46.3% | -145.1% | 358.9% | -376.2% | -165.4% | — | — | — |
| Return on assets | -32.0% | -27.5% | -20.9% | -110.5% | -59.1% | -53.7% | — | — | — |
| Free cash flow yield | -32.3% | -27.1% | -5.2% | -41.9% | -48.2% | -73.2% | — | — | — |
| Revenue growth | -60.5% | -4.4% | 3005.1% | -91.1% | 104.0% | 25.6% | — | — | — |
| Earnings growth | 110.7% | 68.7% | -64.5% | 32.4% | -18.5% | -22.6% | — | — | — |
| Current ratio | 6.47x | 2.89x | 1.26x | 1.38x | 2.53x | 1.90x | — | — | — |
| Debt to equity | 0.02x | 0.04x | 0.17x | -0.12x | 0.15x | 0.04x | — | — | — |
| Equity ratio | 82.4% | 59.5% | 14.4% | -30.8% | 15.7% | 32.5% | — | — | — |
| Interest coverage | — | — | — | -103.12x | -8.48x | -9586.06x | -7251.05x | -17065.17x | -165.34x |
| R&D as a share of sales | 427.8% | 147.4% | 114.7% | 3175.0% | 297.5% | 652.2% | — | — | — |
| Buybacks as a share of market value | -4.6% | -57.2% | -16.6% | -64.4% | -17.2% | -42.2% | — | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 127.1% | 16.3% | 75.7% |
| Operating income | 9.8% | 7.0% | 27.3% |
| Net income | 8.1% | 6.4% | 26.7% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -215.7% | -207.7% | -254.4% | -378.9% |
| Net margin | -199.6% | -194.3% | -241.0% | -359.1% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -7.5 | -11.1 | -4.8 | -2.0 | -0.7 | -1.3 | -0.5 | -0.7 | -0.7 | -0.8 |
| Price to sales | 36.1 | 9.9 | 2.5 | 90.9 | 2.2 | 9.6 | 5.5 | 6.8 | 19.0 | 29.8 |
Market value over time
30 Nov 2016 to 26 Oct 2026, in USD
$834.7m$648.7m
Share price return
Finished calendar years
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Return | 19% | 163% | -5% | 51% | -58% | 70% | -9% | 6% | 25% | 90% |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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