Z 
28.57
+1.10%
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
$10.0m
FY2022FY2025
Net income
−$377.7m
FY2022FY2025
Free cash flow
−$172.4m
FY2022FY2025
Shareholders' equity
$242.1m
FY2022FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|
| Revenue | $10.0m | $5.0m | $50.0m | — |
| Research and development | $168.1m | $139.1m | $60.0m | $62.7m |
| Operating income | −$211.4m | −$163.9m | −$37.1m | −$76.2m |
| Net income | −$377.7m | −$157.0m | −$37.1m | −$119.3m |
| Diluted earnings per share | -8.12 | -3.76 | -0.97 | -3.11 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|
| Total assets | $383.6m | $370.0m | $68.2m | $74.6m |
| Cash and short-term investments | $343.2m | $350.8m | $56.9m | $67.2m |
| Total liabilities | $141.5m | $57.5m | $293.9m | $266.9m |
| Debt | $1.1m | — | $20.3m | — |
| Shareholders' equity | $242.1m | $312.5m | −$225.7m | −$192.3m |
| Shares outstanding | 46m | 42m | 38m | 38m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|
| Cash from operations | −$172.3m | −$119.7m | −$30.5m | −$65.7m |
| Capital spending | −$18,000 | −$131,000 | −$17,000 | −$2.2m |
| Free cash flow | −$172.4m | −$119.8m | −$30.5m | −$67.8m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.0m | — | $10.0m | — | — | $10.0m | $5.0m | — |
| Operating income | −$107.7m | −$77.4m | −$238.0m | −$52.6m | −$55.2m | −$37.3m | −$55.6m | −$41.0m |
| Net income | −$111.5m | −$81.0m | −$240.4m | −$51.5m | −$52.2m | −$33.6m | −$52.6m | −$38.6m |
| Diluted earnings per share | -1.77 | -1.28 | -5.17 | -1.11 | -1.12 | -0.72 | -1.26 | -0.92 |
| Cash from operations | −$57.0m | −$75.0m | −$52.0m | −$41.0m | −$41.0m | −$37.0m | −$38.0m | −$31.0m |
| Capital spending | — | — | −$30.0m | −$5.0m | — | — | — | — |
| Free cash flow | — | — | −$82.0m | −$46.0m | — | — | — | — |
| Total assets | $701.7m | $747.7m | $383.6m | $322.0m | $293.1m | $333.8m | $370.0m | $403.4m |
| Cash and short-term investments | $643.1m | $717.2m | $343.2m | $290.9m | $273.3m | $312.4m | $350.8m | $386.8m |
| Debt | $823,000 | $266.8m | $1.1m | $618,000 | $793,000 | $908,000 | $785,000 | $384,000 |
| Shareholders' equity | $247.1m | $335.8m | $242.1m | $196.4m | $239.6m | $284.3m | $312.5m | $359.4m |
Financial ratios
Data as of 5 Nov 2026
| FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|
| Operating margin | -3704.9% | -3131.2% | -54.3% | — |
| Net margin | -3777.4% | -3139.8% | -74.2% | — |
| Return on equity | -156.0% | -50.2% | 16.4% | 62.0% |
| Return on assets | -98.5% | -42.4% | -54.4% | -159.9% |
| Free cash flow yield | -13.0% | -10.1% | -2.8% | -5.8% |
| Revenue growth | 100.0% | -90.0% | — | — |
| Earnings growth | 140.6% | 322.9% | -68.9% | — |
| Current ratio | 5.61x | 6.21x | 2.57x | 2.64x |
| Debt to equity | 0.00x | 0.00x | -0.09x | -0.00x |
| Equity ratio | 63.1% | 84.5% | -331.1% | -257.8% |
| Interest coverage | -50.56x | — | — | — |
| R&D as a share of sales | 1680.6% | 2782.8% | 120.1% | — |
| Buybacks as a share of market value | -11.3% | -9.1% | 0.0% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Operating income | 40.5% | — | — |
| Net income | 46.8% | — | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | |
|---|---|---|
| Price to earnings | -2.1 | -1.1 |
| Price to sales | 81.3 | 33.0 |
Market value over time
30 Sept 2024 to 4 Nov 2026, in USD
$706.9m$1.80bn
Share price return
Finished calendar years
| 2025 | 2024 | |
|---|---|---|
| Return | 281% | -49% |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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